Day: July 14, 2020

U.S. Natural Gas Prices Hit Record Lows In H1 2020

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The spot price of the U.S. natural gas benchmark Henry Hub hit record lows in the first half of 2020 due to mild winter early in the year and depressed demand later on with the pandemic, the Energy Information Administration (EIA) said on Monday. The average monthly Henry Hub spot price in the first six months of 2020 was $1.81 per million British thermal units (MMBtu). Monthly prices reached as low as $1.63 per MMBtu in June, the lowest monthly inflation-adjusted price since at least 1989, according to EIA estimates.…

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Shale CEO: U.S. Has Passed Peak Oil

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Crude oil production has already peaked in the United States, according to a leading independent oil producer in the U.S. shale patch. Chief executive of Parsley Energy Matt Gallagher said that the peak production that the United States hit back in March—13.1 million bpd on average—represented shale’s glory days, ne’er to be repeated, according to the Financial Times. That forecast comes as the Energy Information Administration published its monthly Drilling Productivity Report, which shows the month of August should see even less production from the seven largest shale plays in…

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Centre holds KE responsible for Karachi outages

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ISLAMABAD: The Ministry of Energy on Sunday censured the K-Electric management for shifting responsibility to the government for power outages in Karachi. In a statement, a spokesperson for the Ministry of Energy said the fact was that KE had not made necessary investment in its distribution system that was incapable to off-take additional electricity from the national grid despite repeated offers. The ministry said the KE’s claims were totally wrong that non-supply of fuel by the federal government led to loadshedding in Karachi. It said the KE’s chief executive officer…

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Largest Wind Turbine in China Now Grid-Connected

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Dongfang Electric Corporation (DEC) sent off the prototype 10 MW offshore anti-typhoon wind turbine from its factory to the project site at the end of June. The height of the installed unit is about 115 metres above sea level. The 10 MW wind turbine, with a rotor diameter of 185 metres, can meet the average power consumption of 20,000 households annually. After it passes the test and verification at Xinghua Bay Wind Farm Phase II, the wind turbine will be mass-produced and gradually promoted and installed at Fujian’s offshore wind farms, Dongfang…

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Does KAPCO have life beyond its PPA expiration? Some analysts think so

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The market hates independent power producers (IPPs) right now, and one that has been running for 35 years is probably at the bottom of the totem pole as far as investor interest is concerned. Add in a power purchase agreement (PPA) that is expiring next year, and investors absolutely could not be bothered with the company in question. Yes, it certainly does look like its best days are behind the Kot Addu Power Company, one of Pakistan’s largest power producers. And it is not as though it has not been…

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