CHINA'S GLOBAL ENERGY
SHANGHAIDAILY - The China-proposed Global Energy Interconnection Development and Cooperation Organization inked five deals on Saturday to promote integrated, smart and clean grids.
Cooperation will focus on grid planning, fundamental research, policy coordination, project development and information sharing, according to the deals signed between GEIDCO and the UN Department of Economic and Social Affairs, the UN Economic and Social Commission for Asia and the Pacific, the African Union Commission, the League of Arab States and the grid management bureau with the Cooperation Council for the Arab States of the Gulf.
The agreements will help create an integrated, smart and clean grid in Asia, Africa and countries along the Belt and Road, said Liu Zhenya, chairman of GEIDCO.
China suggested in September 2015 that the UN Sustainable Development Summit discussed forming the global energy interconnection platform to connect grids globally to smooth development, deployment and utilization of clean energy, with ultra-high voltage transmission as the backbone, said Liu.
|November, 17, 19:55:00|
|November, 17, 19:50:00|
|November, 17, 19:45:00|
|November, 17, 19:40:00|
|November, 17, 19:35:00|
|November, 17, 19:30:00|
REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.
BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.
Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.
Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.