Nat Gas News – March 20, 2017

Nat Gas News – March 20, 2017

In The News

Beijing shuts last coal power plant in switch to natural gas

Phys.org Reports: The last large coal-fired power plant in Beijing has suspended operations, with the city’s electricity now generated by natural gas, the state news agency reported as smog enveloped the Chinese capital this weekend. The shuttering of the Huaneng Beijing Thermal Power Plant comes on the heels of China’s annual legislative sessions, where Premier Li Keqiang promised to “make our skies blue again” in his state-of-the-nation speech. According to Xinhua, Beijing has become the country’s first city to have all its power plants fuelled by natural gas, an objective laid out in 2013 in the capital’s five-year clean air action plan. The Huangneng plant is the fourth to be closed and replaced by gas thermal power centres between 2013 and 2017, cutting nearly 10 million tonnes in coal emissions annually. Xinhua reported the move the night before municipal authorities issued a blue alert for heavy air pollution on Sunday. Smog has cloaked the capital for several days and is expected to continue through the week. For more visit phys.org or click http://bit.ly/2nJjyJX

Baker Hughes’ U.S. rig count builds by whopping 21

The Street Reports: U.S. oil and natural gas producers added 21 rigs over the past week, Baker Hughes (BHI) reported Friday, March 17. The overall U.S. rig count now sits at 789, up 313 rigs from this time last year when the count stood at 476, the Houstonbased oilfield services provider said. Oil rigs are up 244 and natural gas rigs are up 68 in the past year. Meanwhile, the offshore rig count continues to play seesaw, dropping by one this week after adding two rigs in the previous frame. The offshore count, now at 19, is down eight rigs year-over-year. The rig count tends to lag significant movement in the price of oil by as much as a quarter, but a prolonged stay below $50 per barrel could soon give reason for many producers outside of the most lucrative U.S. plays to stall activity. For more visit thestreet.com or click the following link http://bit.ly/2n5W0AX

 

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