Lower oil prices start to rebalance the market
Lower oil prices are starting to rebalance the oil market by slowing the rise in U.S. crude output and encouraging Saudi Arabia and its allies to extend production cuts through the end of 2019.U.S. crude production rose 241,000 barrels per day (bpd) to 11.905 million bpd in March from February, according to the U.S. Energy Information Administration (“Petroleum Supply Monthly”, EIA, May 2019).U.S.
Baker Hughes is Exploring Advanced Manufacturing with AFRC
The University of Strathclyde’s Advanced Forming Research Center (AFRC) and Baker Hughes, a GE company (BHGE), have joined forces to explore how some of the latest advanced manufacturing tools and processes can drive more efficient, smarter ways to reduce cost and increase productivity across BHGE’s operations.Joining the research center as a tier one member, BHGE will work with the AFRC’s…
Germany's Long Goodbye to Coal Despite Merkel's Green Push
Coal needed for power supply security for decades. Burning coal for power looks set to remain the backbone of Germany's energy supply for decades yet, an apparent contrast to Chancellor Angela Merkel's ambitions for Europe's biggest economy to be a role model in tackling climate change. Merkel is avoiding the sensitive subject of phasing out coal, which could hit tens of thousands of jobs, in the campaign for the Sept. 24 election, in which she hopes to win a fourth term.
103 Cranes Ordered for East Anglia ONE Wind Farm
Aberdeen-based Sparrows Group said it has signed a contract to supply 103 cranes for installation at ScottishPower Renewables’ 714 megawatt East Anglia ONE offshore wind farm. Located off the coast of Suffolk, the wind farm will be capable of producing enough electricity to power around 500,000 homes and is anticipated to generate first power in 2019 and be fully-operational by 2020. All the…
Australian Industry Dependent on Natural gas
Natural gas is both a source of energy and an essential raw material for manufacturing. Almost one-third of the gas consumed in Australia is used by manufacturers. Manufacturing in Australia is a $100 billion industry directly employing 890,000 people. About 225,000 people work in manufacturing sectors that rely heavily on gas; another 500,000 people work in related industries that do business with these manufacturers. non-ferrous metals (e.g. chemicals and polymers (e.g.
Nigeria's Buhari to Ask China's Xi for Infrastructure Funding
Nigeria's President Muhammadu Buhari will ask China's president at a summit this week to fund rail and power projects urgently needed to diversify an economy hit hard by a plunge in oil prices, a spokesman said on Wednesday. Buhari has already indicated to Xi Jinping that he wants to resume stalled rail projects under new terms that would see China providing nearly all the financing required which could total around $20 billion, spokesman Garba Shehu said.
US Manufacturing Renaissance Proves Elusive Despite Cheap Gas
According to many commentators, cheap natural gas is producing a renaissance in U.S. manufacturing and putting European competitors at a disadvantage. But empirical studies show the impact has been small and concentrated in a handful of energy-intensive industries that account for only a small share of manufacturing value-added. Cheap gas has produced big benefits for most energy-intensive industries but for the rest of the U.S. manufacturing sector the impact has been modest.
