GERMANY'S RENEWABLE UP
REUTERS - Germany raised the proportion of its power produced by renewable energy to 35 percent in the first half of 2017 from 33 percent the previous year, according to the BEE renewable energy association.
Germany is aiming to phase out its nuclear power plants by 2022. Its renewable energy has been rising steadily over the last two decades thanks in part to the Renewable Energy Act (EEG) which was reformed this year to cut renewable energy costs for consumers.
Germany has been getting up to 85 percent of its electricity from renewable sources on certain sunny, windy days this year.
The BEE reported on Sunday the overall share of wind, hydro and solar power in the country's electricity mix climbed to a record 35 percent in the first half.
The government has pledged to move to a decarbonized economy by the middle of the century and has set a target of 80 percent renewables for gross power consumption by 2050.
It aims to cut greenhouse gas emissions by 40 percent in 2020 from 1990 levels and 95 percent by 2050.
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Libya’s oil production increased steeply to the current level of 850,000 b/d from a low point in August 2016 of below 300,000 b/d. Production surpassed 1 million b/d in July.
- Revenue of $7.9 billion increased 6% sequentially - Pretax operating income of $1.1 billion increased 11% sequentially - GAAP EPS, including Cameron integration-related charges of $0.03 per share, was $0.39 - EPS, excluding Cameron integration-related charges, was $0.42 - Cash flow from operations was $1.9 billion; free cash flow was $1.1 billion
“The combination of GE Oil & Gas and Baker Hughes closed on July 3, and we are pleased with our progress during our first operating quarter. Despite the continuing challenging environment, we delivered solid orders growth and secured important wins from customers, advanced existing projects and enhanced our technology offerings in the quarter. We also achieved key integration milestones and made significant progress working as a combined company. I am now more convinced than ever that we combined the right companies at the right time,” said Lorenzo Simonelli, BHGE chairman and chief executive officer.
U.S. Rig Count is up 360 rigs from last year's count of 553, with oil rigs up 293, gas rigs up 69, and miscellaneous rigs down 2 to 2. Canada Rig Count is up 59 rigs from last year's count of 143, with oil rigs up 38 and gas rigs up 21.