The last large coal-fired power plant in China’s capital of Beijing has suspended operations, with the city's electricity now generated by natural gas, the state news agency reported last weekend.
China’s sovereign wealth fund, CIC, and the state-oil firm CNPC are reportedly in talks with Saudi Arabia over a stake in the planned flotation by Saudi Aramco, expected to be the largest in the industry.
Brazilian state-controlled oil and gas company Petrobras saw its output decline slightly in February, on a monthly basis, amid scheduled stoppages at platforms. Total oil and gas output reached 2.82 million barrels of oil equivalent per day (MMMBOE/d) last month, compared to 2.86 MMBOE/d in January.
China plans to eliminate more than 150 million tonnes/year of coal capacity in 2017. New price monitoring systems, lax coal production restrictions and long-term supply contracts between coal miners and buyers show, however, that the government is trying hard to avoid the dramatic coal price fluctuation seen in 2016.
The International Energy Agency (IEA) has once again warned that if investments in global upstream activities don’t pick up “soon”, global oil supply could struggle to keep pace with demand after 2020, risking a sharp increase in prices.
Eastern Chinese steelmaker Fujian Sangang Group plans to invest in its electricity sales business, according to an announcement by its listed arm Sangang Minguang, Kallanish Energy's sister publication Kallanish Steel notes.