Thursday, July 18, 2013

STUFF

JP Morgan Chase wants to settle on FERC charges it gleaned profits from power plants through "manipulative schemes". $500M. (Barclay's FERC settlement yesterday.)

SoftBank (Japan) formed fuel cell JV with Bloom Energy (US).

Study: as CO2 concentrations increase so do wetlands' ability to absorb it.

Satellite data shows Malaysia Borneo forests severely degraded.

EU approved German carbon support system for energy-intensive industries.

China levied tariffs on US, S Korean solar-grade polysilicon. 7/24 start. 54-57% for US comps, 2-49% for S Korean.

Europe solar PV comps say EU duties on China solar based on faulty evidence.

3-week 27M bl US crude inventory drop largest on records going back to '82. Crude stocks near 400M bls in May, highest since '31.

Iran's prez-elect said their econ far worse off than Ahmadinejad had been saying.

China's oil demand up 9% in June yoy to 9.9Mb/d. New refining capacity coming online.

New safety regs clearing way to restart Japan's nuke power plants.

Chevron signed $1.5B deal with YPF (Argentina) for JV to develop giant oil/NG basin east of Andes. To start with $300M fracking project. Expect to produce 50Mb/d oil, 3MCM NG by '17.

California imposing record $2.25B fine against PG&E for '10 NG pipeline explosion. All but $300M to be used to improve pipeline network.

UN Emission Reduction Units surged 39% after EU refined eligibility for its carbon market.

$670M expansion of Brazil Amazon hydro dam may be canceled. Regulators say part of the extra energy would have to be transferred to neighboring hydro project.

S Korean comp granted consent for 20Mw Philippine solar plant.

Enel Green Power signed $485M PPA for 100Mw Mexico wind farm.

Universities committing to grad degrees in green chem.

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