News From ShrutiSuresh

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  Drax profit rises on higher biomass power generation, pellet output

  Drax has converted four of its six former coal-fired plants to use biomass wood pellets, often made from compressed sawdust, ahead of Britain’s plans to phase out coal-fired power plants by 2025

• China approves 6 mt coal mine project in Inner Mongolia region

  

• OPINION: Trump warns Saudi Arabia on oil prices as focus turns to re-election

  

• Gazprom sees its gas price in Europe at $230-250 per 1,000 cubic metres in 2019

  

• FEATURE: Rio de Janeiro hits the gas in push toward its zero carbon goal

  

• Solar power tariffs see modest rise at SECI auction

  

• Oil steadies after selloff; market eyes Trump intervention

  

• Australia clears way for massive hydropower expansion

  

• Azerbaijan wants stable oil price before any further output cut

  

More from ShrutiSuresh

• KenGen gets contract with Ethiopian Electric Power for geothermal drilling

  The power producer’s contract with East Africa’s largest power producing company is being funded by the World Bank through a loan to the Ethopian government for $76.8 million, KenGen said

  

• GE sells biopharma drug business to Danaher for $21.4 bn

  Danaher develops technology for the dental, life sciences, diagnostics and environmental industries

  

• Turkey’s Global Investment Holding plans Naturelgaz IPO

  Naturelgaz has an 18-20 percent share in Turkey’s non-piped natural gas transport sector, as well as a 75 percent share in the compressed natural gas market, Turan said

  

• Electric vehicle sector needs initial seeding to take off: Naveen Munjal

  “Battery technology is very expensive and if we wait for the battery cost to come down, we will miss the bus. The sector needs government’s push to a certain level and not for life long,” says Naveen Munjal, Chief Executive Officer, Hero Electric.

  

• Platts adds Rotterdam-priced crude oil cargoes to dated Brent

  A steady decline in crude production from the North Sea has led to concern that output could become too low and hence could be accumulated by just a few players, making the benchmark vulnerable to manipulation

  

• OPINION: Hedge funds bet cautiously on even higher oil prices

  Saudi Arabia’s substantial output cuts and US sanctions on Iran and Venezuela also are restricting crude supplies and helping eliminate a previously expected surplus in the market in 2019

  

• Poland to invest in solar panels as power prices rise

  Most electricity produced and used in Poland comes from aging coal-fuelled power stations and thus a rise in the cost of carbon emissions has boosted power prices

  

• ConocoPhillips shuts down Suban gas field for planned maintenance

  ConocoPhillips is making adjustments to its gas distribution during the shut down, SKK Migas said in a statement

  

• China’s coal consumption to rise to 3.89 billion tonnes in 2019

  Xianzheng made the forecast at an industry event in Beijing hosted by China Energy Investment Corp and IEA

  

• Goldman Sachs says near-term oil view modestly bullish on tightening market

  The upside potential for benchmark Brent crude prices exceeds the near-term outlook of $67.50/bbl and could easily trade between $70 and $75 per barrel

  

• Global LNG trade to rise 11 per cent this year: Shell

  Shell, the largest buyer and seller of LNG in the world, said trade rose by 27 million tonnes last year, with Chinese demand growth accounting for 16 million tonnes of those volumes

  

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