Rise in China’s Coal-fired Capacity in 2014, 2015 may not Boost Thermal Coal Prices: UBS

Rise in China’s Coal-fired Capacity in 2014, 2015 may not Boost Thermal Coal Prices: UBS

From PLATTS China is expected to increase its coal-fired capacity in 2014 and 2015 to maintain power supply security, but that might not significantly boost thermal coal prices as the market is oversupplied, analysts at UBS Securities said in a research note last week. "We expect coal-fired units construction to accelerate in 2014 and 2015, primarily because the coal-fired capacity added of 30 GW in 2013 wa ...

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Angola May Exempt Oil Companies From Services Tax, E&Y Says

Angola May Exempt Oil Companies From Services Tax, E&Y Says

From Bloomberg By Colin McClelland Petroleum explorers including Total SA and BP Plc in Angola, Africa’s second-largest crude producer, will probably be exempt from a consumption tax, the head of Ernst & Young’s local unit said. The proposed 5 percent levy on services and supplies to oil companies and 10 percent on drill rig leases and other equipment rentals won’t be imposed after opposition from the P ...

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Asian Coal Miners Pursuing Self-defeating Output Gains – Report

Asian Coal Miners Pursuing Self-defeating Output Gains – Report

From COALGURU Reuters reported that coal producers in Asia are currently their own worst enemies, raising output in a bid to boost revenue in order to compensate for lower prices. Economic logic would suggest that when the product you make is in oversupply, eventually prices will fall to the point where output becomes loss-making and is shut down. However, this logic isn't applying to Asian coal markets, wi ...

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Finally, There’s a Gas Pipeline to Bypass Russia

Finally, There’s a Gas Pipeline to Bypass Russia

From BUSINESSDAY The confrontation between Ukraine and Russia is helping to create an opening for another former Soviet state that wants to become a bigger gas supplier to Europe. Azerbaijan — nestled between Russia to its north and Iran to its south — hopes its geographic and geopolitical position will help persuade the Obama administration to offer more vocal support for a $45 billion natural gas pipeline ...

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BP Warns on Oil Output as Profit Falls

BP Warns on Oil Output as Profit Falls

From Market Watch LONDON-- BP PLC reported a fall in first-quarter profit as the energy giant continues to reshape itself in the aftermath of the Deepwater Horizon explosion and oil spill. BP's production for the three months ended March 31 fell 8.5% to 2.13 million barrels of oil a day and the company warned that second-quarter production will be lower, mainly because of planned maintenance in the higher-m ...

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US Natural Gas Futures Fall for Third Day

US Natural Gas Futures Fall for Third Day

From BUSINESS RECORDER US natural gas futures fell on Friday for a third day and ended the week down 2 percent on forecasts for warmer weather that may allow utilities to step up the pace of rebuilding severely depleted gas inventory. Warmer weather also pared spot gas prices while power prices for Monday rose across the country. "Prices are heading lower today in a continuation of the bearish momentum we s ...

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Month-long Colombia Pipeline Shutdown Cuts Oil Output 7 Pct

Month-long Colombia Pipeline Shutdown Cuts Oil Output 7 Pct

From REUTERS By LUIS JAIME ACOSTA (Reuters) - The month-long closure of a key Colombian oil pipeline following a bomb attack has cut the Andean nation's daily crude output by about 72,000 barrels, or about 7 percent, according to data from state-run oil company Ecopetrol, which owns the duct. The Cano Limon pipeline, which carries crude from an oil field of the same name to the Caribbean coast, was shut dow ...

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ISRAEL TO COOPERATE WITH TURKISH COMPANIES TO MARKET ITS GAS

ISRAEL TO COOPERATE WITH TURKISH COMPANIES TO MARKET ITS GAS

From DAILY SABAH By Mehmet Nayir ANKARA — The number of unexpected applicants for gas diplomacy in the eastern Mediterranean is rising at an accelerated pace after Israel apologized to Turkey and agreed to pay compensation for the 2010 Mavi Marmara incident and a new resolution process was initiated in Cyprus between Turkish and Greek Cyprus. Following Israel's request for offers from prominent energy compa ...

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US Railroads Show Untapped Value from Delay in Building Oil Pipeline

US Railroads Show Untapped Value from Delay in Building Oil Pipeline

From Reuters US railroads are obvious winners from the latest delay in the Keystone XL Pipeline approval, and some of the freight operators with the biggest growth in petroleum shipments look undervalued, according to an analysis of Thomson Reuters data. While shares in some railroad companies have recently hit record highs, there may be still more upside potential. CSX Corp and Norfolk Southern Corp are bo ...

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Japan’s Push for Gas Exchange to Face Pipeline-Network Hurdle

Japan’s Push for Gas Exchange to Face Pipeline-Network Hurdle

From Bloomberg By Chou Hui Hong, Tsuyoshi inajima and Heesu Lee Japan’s effort to set up a natural gas exchange may be hampered by the lack of a pipeline network across the country, according to a government subcommittee. Japan is considering setting up the exchange as part of measures to deregulate the country’s retail gas market amid surging fossil fuel import costs and nuclear reactor shutdowns. A subcom ...

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