Paddy Padmanathan, CEO and president of ACWA Power International, believes renewables will pack a competitive punch to the oil and gas markets, but says that will take time.
In the week since our last edition of What’s Affecting Oil Prices, Brent rose $1.13/bbl last week to average $67.04/bbl, stronger than our expectations.
U.S. crude oil stockpiles last week fell by nearly 10 million barrels, the most since July, boosted by strong export and refining demand, the EIA said.
FERC approves site preparation for $4.5 billion export terminal.
Stranded gas in the Permian Basin crushes Waha spot prices to around 12 cents/MMBtu.
Vitol said its traded crude and products volumes rose to 7.4 million barrels per day last year, up from 7.2 million in 2017.
Lender would fund private and government energy projects domestically and internationally.