U.S. Energy Secretary: Oil supply, Demand Rebalancing in a Year
Recent rise in oil prices unlikely to reverse investment trends. U.S. Energy Secretary Ernest Moniz said he expects global oil supply and demand to rebalance in about a year's time. Benchmark crude oil prices , which hit almost 13-year lows earlier in 2016, surged nearly 20 percent in April on a softer dollar and lower U.S. production. However…
Asian LNG Spot Climbs as Jordan, Pakistan Buy
Asian liquefied natural gas (LNG) spot prices for September delivery were higher on Friday supported by nearby demand from new importers including Jordan and Pakistan, traders said. The price of Asian spot cargoes rose to $8.10 per million British thermal units (mmBtu), from $7.80 the previous week. "(It's) just unexpected demand with very short lead times," said a trader.
Japan's Sendai Reactors Restart to Cut LNG, Oil Use
The scheduled restart of Japan's first reactor in nearly two years next month would save around 850,000 tonnes of liquefied natural gas (LNG) per year, according to Reuters calculations based on data from the country's industry ministry. Kyushu Electric Power is set to restart one of its Sendai reactors in southwestern Japan in August, pending a final sign-off by the nuclear regulator.
Japan Court to Decide on Nuclear Plant, Crucial to Atomic Future
A Japanese court will rule later on Tuesday on an injunction request against reactors owned by Kansai Electric Power, in a case that could derail Japan's slow return to nuclear power after the 2011 Fukushima disaster. The ruling will have ramifications for attempts by Prime Minister Shinzo Abe, a strong proponent of atomic energy, to revive the world's third-biggest economy after two decades of anaemic growth.
