Sunday, June 24, 2018

Thomson Reuters News

Cryptocurrency May Light Up Renewable Energy in Moldova

© Dmitry Volochek / Adobe Stock

Moldova, a small, landlocked country in eastern Europe, imports three-quarters of its energy and has seen its energy prices rise by more than half in the past five years.But that could soon change, according to the United Nations Development Programme (UNDP), which this year will launch an innovative effort to power a Moldovan university with cryptocurrency-funded solar energy.The initiative with Sun Exchange…

Enterprise Expects to Load First Supertanker at Texas Port This Month

© John Regan/ MarineTraffic.com

Seaway Crude Pipeline Company LLC, a joint venture between Enterprise Products Partners LP and Enbridge Inc, plans to load its first supertanker this month at its Texas City marine terminal:* VLCC FPMC C Melody will be loaded with about 1.1 million bbls (2-million-bbl capacity); remaining crude to be transferred in a lightering zone* The VLCC was anchored near Houston as of Wednesday - Thomson Reuters vessel tracking data/shipping source* Enterprise said Midland-Sealy pipeline reached full service ca

China to Cut US Oil Imports Amid Trade Spat

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Chinese oil buyers will keep taking crude from the United States through September, but plan to reduce future purchases to avoid a likely import tariff amid a trade spat between the world's two largest economies, multiple industry sources said.Beijing has put U.S. energy products, including crude oil and refined products, on lists of goods that it will hit with import taxes in retaliation for similar moves by Washington.Beijing did not specify when it will impose a 25 percent tax on oil…

EU Agrees Final Energy Saving, Renewables Targets

(Photo: Eric Haun)

The European Union on Wednesday finalized new climate rules after months of talks, targeting a total energy saving of 32.5 percent and an uplift in the share of renewable energy to 32 percent by 2030.National governments must now draft their own plans for implementing the bloc's overall climate goal of lowering greenhouse gas emissions by at least 40 percent below 1990 levels by 2030 in line with the Paris…

Sembcorp Marine Swings to Q4 Profit

Annual revenue lowest since 2006. Singapore's Sembcorp Marine Ltd (SembMarine) swung to profit in the fourth quarter of 2016 after provisions pulled the rig builder into a loss the year earlier, but a downturn in oil prices pushed annual revenue to its lowest in a decade. SembMarine and compatriot Keppel Corp Ltd have been suffering from an oversupply of offshore oil drilling rigs, with customers delaying contracts and refraining from placing orders while oil hovers at about half its 2014 peak.

Halliburton Gains from North American Drilling Surge

File Image (CREDIT: AdobeStock / (c) Edelweiss)

Halliburton Co said on Monday that oil producers are completing nearly as many wells as they are drilling, a major reversal from when companies left wells unfinished in anticipation of higher oil prices. Increased demand for Halliburton's pressure pumping and well-construction services helped the world's No.2 oilfield services provider report slightly better-than-expected quarterly profit and revenue. Halliburton's shares were up more than 1 percent at $47.72 in morning trade on Monday.

Drilling Ship Leaves Vietnam Block after China Row

The drilling ship at the centre of a row between Vietnam and China over oil prospecting in disputed waters in the South China Sea has arrived in waters off the Malaysian port of Labuan, shipping data in Thomson Reuters Eikon showed on Monday. Drilling by the Deepsea Metro I ship was suspended in Vietnam's Block 136/3 last month after pressure from China, which says the concession operated by Spain's Repsol overlaps the vast majority of the waterway that it claims as its own.

Netherlands to Receive LNG from Sabine Pass Plant

File Image: A typical LNG Carrier at Sea (CREDIT: MISC)

The Netherlands will receive its second-ever liquefied natural gas (LNG) shipment from Cheniere Energy's Sabine Pass export facility in the United States on Oct. 6, according to shipping data.   The vessel, with a capacity of 166,031 cubic metres, is currently berthed at Sabine Pass, live ship-tracking data shows.   The first delivery from Sabine Pass to the Gate terminal in Rotterdam arrived on June 8 aboard the Arctic Discoverer, a Thomson Reuters analyst said.   Reporting by Oleg Vukmanovic

Coal Rally at Risk as China Imports sag

A typical oceangoing bulk carrier (file image: BSM)

If you believe that thermal coal's rally this year has been largely on the back of rising Chinese imports, it follows that any sign of moderation in demand in the world's biggest buyer would raise a red flag of caution. That banner may be in the process of being hoisted, with shipping data suggesting August imports of the fuel used mainly for power generation may be the lowest for six months. Ship-tracking…

India's U.S. Coal Imports Soar

File Image (CREDIT: AdobeStock) / (c) n neeleman)

Coal imports seen rising further amid fears ban may expand. India's coal imports from North America quadrupled to 2.1 million tonnes in October from a year ago, the highest since at least January 2015, Thomson Reuters data showed, and buyers are looking to boost purchases amid a domestic shortage of the fuel. A ban on the use of petroleum coke, a dirtier but better-burning alternative to coal, is spurring expectations India will buy even more coal from the United States in coming months.

Thomson Reuters Recognizes ABB as Top Innovators

Top Innovators

ABB has been recognized by Thomson Reuters as one of the world’s top 100 innovators for a third year. This award acknowledges companies around the world for their outstanding commitment to global innovation, the protection of ideas and the commercialization of inventions. “This recognition is a strong endorsement. Innovation is ingrained in the DNA of ABB and a pillar of our Next Level strategy,” said ABB Chief Executive Officer Ulrich Spiesshofer.

China Rises to World's No.2 LNG Importer

File Image: A typical LNG Carrier at Sea (CREDIT: QGTC)

China's 2017 LNG imports to top South Korea's for first time; becomes key driver of spot LNG prices. China will become the world's second-biggest importer of liquefied natural gas (LNG) this year as it overtakes South Korea, shipping data in Thomson Reuters Eikon showed. This is a huge boost to Asia's emerging spot market as Chinese buyers rely much more on short-term purchases to meet their needs than their counterparts in Japan and South Korea.

Asia oil refiners hungrily eye 300-item global oil smorgasbord

Asia's oil refiners can choose from a sprawling buffet of over 300 crudes from every continent except Antarctica as a combination of cheap freight and rising supplies leaves buyers overwhelmed by the variety of oil grades on offer. The lifting of the 40-year-old U.S. crude export ban in December 2015 means North American supplies are now competing for Asian buyers along with the barrels sent from the Middle East, Russia and elsewhere.

Gazprom Plans 500 Mln Swiss Franc Eurobond

(Photo: Gazprom)

Russia's Gazprom plans to issue a five-year Eurobond worth 500 million Swiss francs ($533.62 million), the Interfax news agency reported on Tuesday, citing financial market sources.   Gazprom has mandated Gazprombank, Renaissance Capital, UBS and VTB Capital to arrange meetings with bond investors in Geneva and Zurich from Monday, Thomson Reuters' IFR unit reported last week. ($1 = 0.9370 Swiss francs) (Reporting by Maria Kiselyova; editing by Katya Golubkova)

PDVSA Woes Deepen as Caribbean Debt Soars

Unpaid debts and broken promises are making Venezuelan oil giant PDVSA an outcast in several Caribbean countries where it had been a guest of honor. The state-run company's crumbling finances are causing operational disruptions across one of its most essential regions, according to internal company documents, six sources with knowledge of its operations, and Thomson Reuters vessel-tracking data. Business partners in the island nations of Curacao…

S.Korea Fuel Oil Imports Soar

© Igor Groshev / Adobe Stock

South Korea's move to shut coal-fired generators to control air pollution at the same time as nuclear reactors are going into scheduled maintenance is resulting in surging fuel oil imports, as utilities burn the dirty feedstock to meet power demand. South Korea's trade ministry said in February it would suspend five coal-fired power plants, with a combined capacity of 2.32 gigawatts (GW), from March to June, part of a broad campaign to reduce pollution.

Sunoco Logistics to Buy Energy Transfer Partners

Sunoco Logistics Partners LP said on Monday it would buy Energy Transfer Partners LP in a deal valued at $19.93 billion. Sunoco Logistics said ETP shareholders would get 1.5 Sunoco units for each ETP share they own, which works out to about $39.30 per share, a slight discount to the stock's Friday close of $39.37. ETP owns about 21 pct of Sunoco Logistics, according to Thomson Reuters data. Sunoco Logistics' general partner is a unit of ETP. (Reporting by Vishaka George in Bengaluru)

New Projects in Brazil's Amazon? Not Without Congressional Approval, says court

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Brazil's government has been told that development projects, including hydropower dams, in protected areas can no longer go ahead without the prior approval of lawmakers. Last week's ruling by the supreme court followed the use by the government in recent years of the controversial "provisional measure", a legal instrument that allowed the president to approve projects by reducing the size of protected areas.

Papua New Guinea LNG Project Resumes Exports

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A liquefied natural gas (LNG) tanker has left Papua New Guinea laden with the first export cargo of the supercooled fuel since the country's giant LNG project resumed production after a major earthquake triggered a shutdown in February, Thomson Reuters Eikon shiptracking data showed on Monday. The tanker's destination wasn't immediately clear, but the resumption of shipments could put pressure on spot LNG prices, traders said.

China's Coal Import Restrictions may Pressure Pricing

Fil Image: Adobestock / © Leonid Eremeychuk

The price of seaborne thermal coal in Asia may come under pressure as China moves to impose some import restrictions on imports of the polluting fuel. Several ports in southern and eastern China have introduced controls on coal imports, ranging from bans on unloadings to tightening customs clearances. Among ports banning imports is the Chuanshon anchorage at Ningbo port, according to a manager at a coal trading house quoted by Reuters on Monday…