Louisiana Light • 4 days | 76.65 | -1.96 | -2.49% | |||
Bonny Light • 1 day | 78.61 | -2.67 | -3.28% | |||
Opec Basket • 4 days | 82.59 | -2.41 | -2.84% | |||
Mars US • 32 days | 79.71 | -2.05 | -2.51% | |||
Gasoline • 10 mins | 2.135 | +0.001 | +0.05% |
Bonny Light • 1 day | 78.61 | -2.67 | -3.28% | |||
Girassol • 1 day | 79.12 | -2.80 | -3.42% | |||
Opec Basket • 4 days | 82.59 | -2.41 | -2.84% |
Peace Sour • 6 hours | 56.79 | -1.03 | -1.78% | |||
Light Sour Blend • 6 hours | 60.64 | -1.03 | -1.67% | |||
Syncrude Sweet Premium • 6 hours | 65.24 | -1.03 | -1.55% | |||
Central Alberta • 6 hours | 58.79 | -1.03 | -1.72% |
Eagle Ford • 4 days | 70.55 | -1.89 | -2.61% | |||
Oklahoma Sweet • 4 days | 70.25 | -1.75 | -2.43% | |||
Kansas Common • 8 days | 65.00 | -0.75 | -1.14% | |||
Buena Vista • 6 days | 83.98 | +1.45 | +1.76% |
In the latest Bloomberg MLIV…
Most US car buyers aren’t…
After a meeting with Xia Zhong, the vice president of China’s state-owned utility firm China Power Investments (CPI), Jero Wacik, the Indonesian Energy and Mineral Resources Minister was pleased to announce that CPI would be help to develop a series of hydroelectric power plants in the Indonesian province of North Kalimantan.
The plans that have so far been outlined consist of a $17 billion investment to launch the development of a line of hydropower projects with construction expected to start as soon as next year.
The hydropower station, which according to Wacik will be built “gradually over seven years,” will be designed to have a generating capacity of 7GW, and be situated on the Kayan river.
Related article: Brazil’s Belo Monte Dam, Bad Idea?
CPI will be asked to use local Indonesian companies and sub-contractors in order to provide the largest possible economic boost to the region. Wacik stated that “this investment should also be creating jobs.”
Indonesia currently has about 70% electrification according to the state utility firm PT PLN, and with an economy growing at a little over 6% a year, and a middle class population that is expected to grow from 45 million to 135 million by 2030, PLN also expects electricity demand to increase by 10% a year.
CPI views Indonesia a good market, and wants to take advantage of its growth over the next few decades.
By. Joao Peixe of 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