05262018Sat
Last updateThu, 24 May 2018 2pm

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Energy's Growth Mantra Fuels Risks

The oil-and-gas sector needs a dose of tough love. Without it, any share-price rallies are likely to be short-lived.

A maxim of the industry is that the cure for low energy prices is low energy prices. When oil and natural-gas prices collapse, this should cause producers to rein in investment, thereby balancing the market and raising prices.

Source: Wall Street Journal

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High Growth Reported for the Nuclear Energy Technologies Worldwide

Manufacturers of nuclear reactor components are entering a pivotal period as the new global landscape of global nuclear energy production takes shape. Nations committed to constructing next-generation nuclear facilities that leverage the latest technology will depend on manufacturers to provide high quality products that foster a safe, secure, and enduring environment for nuclear energy production.

Source: SBI

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Sun Sets on BP’s Solar Hopes

Solar power will not be able to compete with conventional energy until there is a breakthrough in the technology, BP’s chief executive has said, in a further sign of the company’s move away from renewables towards oil and gas.

BP has invested hundreds of millions of dollars in making solar cells and components, but in the past six months it has been closing factories around the world, and announced a sharp cut in its investment in alternative energies, such as solar, from $1.4bn last year to $1bn (£658m) this year.

Source: Financial Times

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Renewable Industry Cheers Obama Budget While Coal and Nuclear Jeer

For many environmentalists and the renewable power sector, President Obama's $3.6 trillion blueprint released yesterday would provide a flush of new cash to spur the development of energy-efficient buildings and carbon-free wind and solar farms. It also would add new money to ready U.S. EPA for the global warming challenges to come.

But for some in the nuclear and coal industries, which produce 70 percent of America's electricity, the plan would hamper the progress of the very fuels that switch on most of the nation's lights.

Source: New York Times

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Sinopec, Kuwait Petroleum Reportedly To Partner on China Refinery

Kuwait Petroleum Corp. and China Petroleum & Chemical Corp., or Sinopec, along with an overseas oil producer, have agreed to construct a $9 billion petrochemical and refining plant in Guangdong province, China's energy authority chief said, according to Bloomberg.

The third party is Royal Dutch Shell PLC, Zhang Guobao, China's National Energy Administration head, said.

Source: MarketWatch

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