GERMAN OIL & GAS: 58.3%
PLATTS - Germany's total primary energy consumption for 2017 is forecast to rise by 0.8%, mainly due to strong economic growth, with oil and gas further boosting their market share to 58.3% of the energy mix, German research group AG Energiebilanzen (AGEB) said Thursday.
Based on the latest available energy data, AGEB predicts total primary energy use of around 13,525 Petajoules in Europe's largest economy for 2017.
This is still below pre-2008 crisis levels, when primary energy demand peaked just below 15,000 PJ.
Mineral oil remains Germany's biggest single primary energy source covering 34.9% of energy demand, up from 33.9% in 2016, AGEB said.
Within the oil complex, petrol and diesel use was up 2% year on year, kerosene consumption increased by 0.7%, light heating oil was up 2% and naphtha demand from the chemical industry increased by 7%, it said.
Demand for natural gas increased by 5% to cover 23.7% of the primary energy mix mainly due to higher demand for heating, although gas for power generation also rose, it added.
By contrast, both hard coal and nuclear fell 10% on year, now covering only 11.0% and 6.1% respectively in the primary energy mix, with Germany planning to phase out both forms of energy.
Lignite use, however, was little changed at 11.2% with domestically-mined lignite remaining Germany's biggest single source of electricity, it said.
Renewable energy increased its share in primary energy to 13.1%, AGEB said, adding that green energy registered the biggest year on year gains (up 6%) mainly driven by wind power.
Energy-based emissions are forecast to be little changed on year, AGEB said.
|April, 23, 14:55:00|
|April, 23, 14:50:00|
|April, 23, 14:45:00|
|April, 23, 14:40:00|
|April, 23, 14:35:00|
|April, 23, 14:30:00|
FT - US shale oil companies have started to generate free cash thanks to the rise in crude prices, a landmark moment for an industry that has until now relied on an inflow of capital to support its growth.
WBG - Bank Group must strengthen its financial capacity to meet the aspirations of its shareholders, mobilize capital at scale, and respond to global development challenges.
IMF - we agreed on the need to accelerate structural reforms and access to finance in order to raise overall investment and medium-term growth rates to support job creation. The Fund, through its policy advice, can assist countries to design and implement growth-friendly fiscal adjustment, when needed, that responds to the country-specific sources of debt vulnerabilities while preserving needed investments in infrastructure, human capital, and other priority expenditures
IMF - Directors also agreed that the Fund should continue to address governance issues and corruption in surveillance when the applicable standard of the Integrated Surveillance Decision has been met.