Panama, U.S. to Sign Pact to Expand Regional Access to LNG
Panama on Friday will sign an agreement with the U.S. Treasury and Energy departments aimed at paving the way for more private investment to expand the importation and distribution of U.S. liquefied natural gas in Latin America.David Malpass, Treasury undersecretary for international affairs, said he hopes the "framework agreement" is the first of several with countries in the region to encourage investment to increase access to cheaper, cleaner energy.The agreement is part of a Treasury-led initiative called America Crece, incorporating the Spanish word for growth, aimed at boosting U.S.
Duke Energy to shed Brazilian Unit
Duke Energy Corp said it agreed to sell its Brazilian unit to clean energy company China Three Gorges Corp for about $1.2 billion, including debt, as it focuses on regulated power markets in the United States. The biggest U.S. power company by generation capacity said it was also negotiating the sale of its remaining assets in Central and South America. Duke Energy owns 2,090 megawatts (MW) of power generation facilities in Brazil. It has eight hydroelectric plants, with 2,057 megawatts of capacity located on the border between the states of Sao Paulo and Parana.
US Refiners Dominate Western Hemisphere Markets
The United States is fast becoming the major refining hub for the entire western hemisphere as plentiful crude at home and superior efficiency enable U.S. refiners to grab market share across the region. U.S. refiners now supply almost a quarter of the rest of the hemisphere's daily fuel demand, up from less than 10 percent a decade ago. U.S. refiners are exporting more than 4 million barrels of gasoline, diesel and other fuels every day around the world, up from 1 million barrels per day in 2005. Two-thirds of the exports, almost 2.8 million barrels per day (bpd), go to markets in the western hemisphere, according to U.S. Customs.
Wärtsilä to Supply Flexicycle Power Plant in Mexico
Wärtsilä has been awarded a contract to supply a Flexicycle power plant, consisting of seven 50SG gas engines and a combined cycle, to produce 139 MW of power for Energia del Caribe, S.A. in Mexico. The full turnkey contract was signed September 2014 and the plant is scheduled to be operational in 2016. The power plant will be located near Monterrey in the state of Nuevo Leon, Mexico. It will be fuelled by natural gas originating from the United States and the electricity will be transmitted through Mexico to consumption in Guatemala. The fact that natural…
Pacific Rubiales Oil Reserves Boosted 45%
Toronto-listed oil producer Pacific Rubiales said on Tuesday its oil reserves estimate from exploration blocks had risen 45 percent to 6.2 billion barrels of oil equivalent by the end of March versus its 2012 estimate. The independent estimate carried out by Petrotech Engineering was a best-case figure from 36 exploration sites spanning Colombia, where most of its production originates, as well as Peru, Brazil, Guyana, Guatemala and Papua New Guinea. The company's best-case contingent resources rose 62 percent to 272 million of barrels of oil equivalent (MMboe) from 168 MMboe in 2012, it said in a regulatory filing.
APR Energy Turbines to Power South Pacific Mining
APR Energy, a company in fast-track power solutions, announced today the signing of a mobile gas turbine contract to provide fast-track power to an industrial customer in the South Pacific. The plant will comprise mobile gas turbines producing a guaranteed 60MW and will power the customer's mining operations. APR Energy's fuel-efficient mobile turbine plant was the customer's preferred solution, meeting strict EU emissions requirements and able to fit within the challenging space constraints at the mine site. APR Energy's plant will run on diesel and offers the flexibility to seamlessly switch to natural gas if needed.
Bowie Taps BHP Billiton Executive As New CEO
Bowie Resource Partners, LLC (Bowie) has announced the hiring of Manie H. Dreyer, of Johannesburg, South Africa, as its new Chief Executive Officer. Dreyer comes to the Louisville based company from BHP Billiton, where since 2009, he has been President of BHP Billiton Energy Coal South Africa (BECSA), a mining operation based in Johannesburg, with 9,500 employees and contractors, producing 35 million metric tons of thermal coal annually; 15 million tons of which are exported to customers throughout Asia and Europe. Prior to his tenure as President of BECSA…
