 |
 |
 |
|
 |
|
 |
|
 |
|
 |
|
|
|||||||||||||
|
|
||||||||||||
|
|||||||||||||
|
 Home MEC Projects Due Diligence Newsletters
Links Publications AFF Energy Access AIM GPF WEG Ambassadorial Service Photo Gallery Analytical Group Contact Spanish welcome |
|
Windsor Energy Group News Update: March 2009 WEG Newsletter March 2009
------------------------------------------------------------------------------------------------------------ The WEG Newsletter - Monitoring Global Energy News
March 2009 Dear Reader,
Welcome to the monthly WEG Newsletter, a summary of the key developments in global energy. The Suncor Energy and Petro-Canada $19.6bn merger to create Suncor Energy as Canada’s biggest Energy Producer may the first of a number of consolidations in the energy sector. Not surprisingly the new company will be especially focused on oil sands, according to Rick George, Suncor’s CEO.
While energy investment plans are under review around the world Saudi state oil company Saudi Aramco has renewed its commitment to investment plans in oil and gas, mentioning a $26.67bn integrated refinery and petrochemical project with US Dow Chemicals, and a petrochemical joint-venture with Japan’s Sumitomo Chemical.
Another trend indicator is the announcement by the Chinese Ministry of Finance that it will subsidise solar power projects attached to buildings that have capacity of more than 50 kilowatt peak (50KWp). It is a part of a drive to tackle China’s major air pollution problems in big cities and to encourage energy diversification.
Meanwhile the German Russian tie-up on nuclear power (Siemens and Rosatom) creates another big global player seeking to take part in the dash for nuclear.
If you would like to learn more about this newsletter or forthcoming events, or perhaps you would like to suggest an event or article for inclusion in the next edition, please do not hesitate to contact me on info@meconsult.co.uk.
Kinds regards,
Andreas Guethlein WEG Secretariat 132 Sloane Street London SW1X9AX Tel: 020 7591 4816 Email: info@meconsult.co.uk
Siemens agrees Russian nuclear joint venture (04/03/2009) Siemens, Europe’s largest engineering group, has agreed to create a joint venture with Rosatom, Russia’s state nuclear company, in an effort to capitalise on resurgent global demand for atomic power.
Dubai’s Al-Ghurair to Upgrade Libyan Oil Refinery (10/03/2009) Libya’s National Oil Corp. said it signed an accord with a unit of Dubai’s Al Ghurair Group to invest $2 billion in upgrading the North African nation’s biggest oil refinery.
Losing its magic touch (13/03/2009) The credit crisis and recession have claimed GE’s coveted credit rating. What does the future hold for America’s venerable conglomerate?
OPEC Holds Oil Output Steady (16/03/2009) OPEC members decided to leave their oil output steady as they balanced the risk of lower crude prices to their national budgets against the damage higher prices could wreak on an already-battered global economy.
Plan for huge wind farm moves forward (16/03/2009) A $1 billion proposal to build the first massive U.S. offshore wind-power farm has moved a step closer to overcoming permit requirements in Massachusetts, where it faces opposition from some influential residents.
Iraq’s Oil Minister Speaks to BusinessWeek (19/03/2009) Hussein Al-Shahristani is trying to persuade global oil giants to invest $35 billion to move Iraqi oil production to 6 million barrels a day.
New LNG terminal for Petrobras (19/03/2009) Brazil’s state-controlled oil company Petrobras has received the first Liquefied Natural Gas (LNG) cargo at its new facility in Guanabara Bay.
Venezuela Signs Energy Cooperation Agreement with Japan (19/03/2009) Venezuelan Energy Minister Rafael Ramirez signed a memorandum of understanding on Thursday with Japan that outlines the countries’ plans to cooperate in the development of oil and natural gas resources, the Japanese Economy Ministry said.
Coal Hard Facts: Cleaning It Won’t Be Dirt Cheap (20/03/2009) The Technology to Scrub Out Carbon Dioxide Is Within Reach, but It Costs Too Much Money and Consumes Too Much Energy.
Nigerian Government Urges Oil Unions to Forego Threatened Strike (22/03/2009) The Nigerian government has asked oil unions threatening a three-day strike this week to abandon their plan. Unions are scheduled to meet government officials on Monday in hopes of averting the strike.
Oil above $53 as U.S. equities surge (23/03/2009) Oil jumped more than $1 to above $53 a barrel on Monday, supported by a rise in the stock market after strong housing data and on details of a U.S. plan to remove toxic assets from bank balance sheets.
Natural Gas Futures Advance as Treasury Plan May Lift Demand (23/03/2009) Natural gas futures rose for a third day in New York on signs investors may begin to favor commodities as a hedge against inflation.
Suncor buys rival Petro-Canada for C$19.6bn (23/03/2009) Suncor Energy of Canada is to buy rival Petro-Canada for C$19.6bn (US$15.5bn), in an agreed all-share deal that will create Canada’s biggest energy producer and accelerate consolidation in the Alberta oil sands.
Saudi Aramco renews commitment to long-term plans (23/03/2009) State oil company Saudi Aramco on Monday renewed its commitment to long-term investment plans in oil and gas during the global financial crisis, which has dampened demand for sources of energy.
US firm set for three energy mega projects in Gulf (25/03/2009) Flowserve Corporation, a US maker of industrial pumps, is set to be involved in three mega energy projects in the Gulf during 2009 and 2010, a senior director with the firm said on Wednesday.
China Datang Corp expands into coal-mining business (26/03/2009) China Datang Corp, one of the country’s five biggest power generators, has been given the green light to expand into the coal-mining business, the State-owned Assets Supervision and Administration Commission (SASAC) said on its website.
PetroChina Sees ‘Most Challenging’ Year as Net Slumps (26/03/2009) PetroChina Co., the world’s second- largest company by market value, said 2009 may be its “most challenging” year after refining losses and a slump in crude oil prices led to its first annual profit drop since 2001.
Saran: India finalising sites for U.S.-origin nuclear reactors (26/03/2009) The Union Government is finalising locations for $150-billion U.S. nuclear power reactors promised to Washington during negotiations for ending India’s isolation from global nuclear commerce, Prime Minister’s Special Envoy Shyam Saran said in Washington on Monday.
Indonesia says may push back Tangguh LNG again (27/03/2009) The first delivery of liquefied natural gas (LNG) from the BP-led (BP.L) Tangguh project in Indonesia’s Papua may be delayed beyond an earlier target of May, Energy Minister Purnomo Yusgiantoro said on Friday
China offers carrot for solar power development (27/03/2009) China will provide 20 yuan ($2.93) per watt peak (Wp) of subsidy for solar power projects attached to buildings that have capacity of more than 50 kilowatt peak (KWp), the Ministry of Finance said, as the government makes a push for clean energy development.
Kuwait, Qatar Comfortable With $50 Oil as Recession Saps Demand (29/03/2009) OPEC members Kuwait and Qatar are comfortable with current oil prices of about $50 a barrel as the global recession saps energy demand.
Coal sector back with rich seam of apprenticeships (30/03/2009) How do you manage a dying industry that suddenly gets a new lease of life? That is the question facing the British coal sector. Some 25 years since the start of the national miners’ strike began a decade-long spate of closures, unexpected demand from power stations and recovering coal prices have ensured the few remaining pits will stay open longer.
Read entire article @ |
|
New Study on Sovereign Wealth Funds Available
MEC International Ltd. Granville House 132-135 Sloane Street London SW1X 9AX Tel: 020 7591 4816 Fax: 020 7591 4801 e-mail : mec(at)meconsult.co.uk |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
