Platts Energy Week is an independent energy news and information program that airs weekly. The program provides a forum where prominent decision makers in government, industry and markets gather to provide information that their peers can use to help gauge opportunities and risks associated with energy investments and trading.
Back in late May, it was obvious that OPEC's June 11 meeting in Vienna was going to result in yet another rollover of the 30 million b/d crude production ceiling...Read More »
Algeria's state-owned Sonatrach plans to invest $100 billion by 2018 to
reverse the country's recent decline in oil and gas production and lay the
ground for the start of shale gas production, according to the official
Algerian news service APS.
The premium that Western sweet crude benchmark cash Brent commands over
the Middle Eastern sour crude benchmark cash Dubai has fallen below $2/barrel
for the first time since November last year following a continued easing in
pressure on the Brent contract on a raft of unsold sweet crude with the
contango structure in ICE Brent also widening Tuesday.
A combination of poor refining margins and autumn refinery turnarounds
scheduled at several North Asian refiners has put pressure on the Middle
Eastern sour crude market, with almost all grades trading at discounts to
their respective official selling prices for September-loading barrels,
traders said Tuesday.
Russia's President Vladimir Putin has asked his government to consider
allowing independent producers to export gas from new fields in East Siberia
and the Far East by September 1 in a move that would effectively spell an end
to Gazprom's export monopoly.
* Energy woes force rethink of South Africa's energy mix
US Commodity Futures Trading Commission member Scott O'Malia abruptly
resigned Monday in a letter to President Barack Obama after serving at the
commission as a Republican appointee for over four years.
UK prompt power prices moved sideways Tuesday as a forecast for slightly
higher demand was offset by expectations for rising wind power generation and
falling gas prices.
More generator availability and less congestion caused Midcontinent
Independent System Operator day-ahead and real-time power prices to fall in
June, but they stayed above June 2013 levels, a report to be reviewed with
stakeholders Tuesday shows.
French nuclear power output Monday morning was almost 4 GW below
availability forecasts published late last week after EDF notified the grid of
new reactor limitations and delayed restarts, the latest data from grid
operator RTE showed.
Imported 4,700 kcal/kg NAR thermal coal delivered to south China (CCI 7)
came under pressure again on Tuesday on a fresh price cut by Chinese coal
producer Shenhua, down 20 cents to $56.50/mt in an oversupplied market and
with weak buying interest, sources said.
Kentucky's Owensboro Municipal Utilities planned to restart Unit 1 at its
425-MW Elmer Smith coal-fired power plant Monday afternoon after the unit was
idled on Friday to remove a "clinker" that had formed in the boiler, a utility
Indonesian thermal coal suppliers were seeing some room for low-CV coal
to be imported into the Chinese market, due to low domestic prices that had
priced out seaborne cargoes of mid- to high-cv coal, sources said on Monday.
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