Louisiana Light • 2 days | 75.78 | -0.87 | -1.14% | |||
Bonny Light • 17 hours | 78.55 | -0.06 | -0.08% | |||
Opec Basket • 2 days | 79.69 | -2.90 | -3.51% | |||
Mars US • 32 days | 79.71 | -2.05 | -2.51% | |||
Gasoline • 1 hour | 2.110 | -0.024 | -1.12% |
Bonny Light • 17 hours | 78.55 | -0.06 | -0.08% | |||
Girassol • 17 hours | 78.88 | -0.24 | -0.30% | |||
Opec Basket • 2 days | 79.69 | -2.90 | -3.51% |
Peace Sour • 16 hours | 56.79 | -1.03 | -1.78% | |||
Light Sour Blend • 16 hours | 60.64 | -1.03 | -1.67% | |||
Syncrude Sweet Premium • 16 hours | 65.24 | -1.03 | -1.55% | |||
Central Alberta • 16 hours | 58.79 | -1.03 | -1.72% |
Eagle Ford • 2 days | 69.52 | -1.03 | -1.46% | |||
Oklahoma Sweet • 2 days | 69.50 | -0.75 | -1.07% | |||
Kansas Common • 17 hours | 62.50 | -0.75 | -1.19% | |||
Buena Vista • 2 days | 79.16 | -1.03 | -1.28% |
OPEC+ reached a deal on…
Oil markets were left both…
Power auctions organized by Brazilâs government on 17 August have indicated the countryâs growing interest in renewable power projects, particularly wind.
Forty-four wind power projects with a total capacity of 1,067 megawatts succeeded in the auction, winning 39 percent of the total capacity contracted, offering an average price of $ 62.91 per megawatt/hour, MercoPress news agency reported.
The prices achieved mean that the countryâs growing wind sector can continue lowering generation costs, boosting investment both in wind farms and equipment manufacturing facilities.
Prior to the auction government-run energy research group EPE head Mauricio Tolmasquim said, âBefore you had a situation in which wind power always needed someone holding its hand, or to have the government behind it â now wind power is strong enough that it can scare the big players.â
Seven years ago the Brazilian government created an incentive program that offered to buy wind power at higher rates than other types of generation. As a result, by 2010 wind farms were offering to sell power 50 percent below the average price during the government incentive period as new technology, tax breaks and more equipment manufacturing became available.
Foreign companies now entering the Brazilian wind energy market include Spainâs Gamesa and Franceâs Alstom, both of which have invested in equipment factories in the country, while U.S. power giant General Electric and Indiaâs Suzlon Energy (NSE:SUZL.NS) are considering expanding their existing production bases there.
By. Joao Peixe, Deputy Editor OilPrice.com
Oil Prices Fall Further As U.S. Crude Oil Inventories See Major Build
Second Israel-Linked Vessel Seized in the Gulf of Aden
OPEC Said To Consider Additional 1 Million Bpd Output Cut
OPEC+ Reaches Preliminary Agreement to Deepen Oil Production Cuts
Crude Oil Inventory Balloons but Gasoline, Diesel Inventories Fall
ADVERTISEMENT
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com