CHINA'S SOLAR ENERGY UP 50%
SHANGHAIDAILY - German solar panel component maker Heraeus said yesterday its sales surged 50 percent annually in China's solar power sector over the first nine months of the year.
The firm, however, didn't unveil the sales figure but it said China contributed 65 percent to its global sales in solar power business this year. The company's solar power sales has jumped since the start of the year boosted by China's surging solar farm installations, said Andreas Liebheit, president of Heraeus's global photovoltaic business.
Heraeus is the world's largest silver paste maker with a 40 percent share of the global market. Silver paste is a component used in solar panels to conduct electricity.
China installed 38.28 gigawatts of solar power from January to August, up 49.5 percent from the end of last year, according to the China Electricity Council.
The rapid growth in solar power installation from last year was because "solar component costs are declining much faster," said Alex Liu, analyst for energy and public utilities at UBS.
The cost to generate one kilowatt-hour of solar power fell to 0.6 yuan by the end of last year from 1.5 yuan five years ago.
Alongside the cost drop, China's solar power industry will also benefit from the government's call for more distributed power grids, Liebheit said. This "suggests the nation should be the long-term key market for global producers," he said.
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BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.
PLATTS - The quality of Russia's key Urals crude exports towards Europe will continue to fall next year as more of the country's low-sulfur oil flows are diverted eastward to China, Russian national oil pipeline operator Transneft warned.
FT - OCI — the world’s third-largest polysilicon maker by capacity and South Korea’s biggest — this month reported a 3,373 per cent increase in operating profit to Won78.7bn ($72m) for the July-September quarter, its best performance in five years. Rival Hanwha Chemical saw third-quarter net profit jump 25 per cent to a record Won252bn.
U.S. Rig Count is up 330 rigs from last year's count of 593, with oil rigs up 273, gas rigs up 58, and miscellaneous rigs down 1 to 0. Canada Rig Count is up 41 rigs from last year's count of 174, with oil rigs up 13, gas rigs up 30, and miscellaneous rigs down 2 to 2.