World’s largest concentrated solar plant switches on in the Sahara lweb.es/f800
Morocco has switched on what will be the world’s largest concentrated solar power plant. The new site near the city of Ouarzazate – famous as a filming location for Hollywood blockbusters like “Lawrence of Arabia” and “Gladiator” – could produce enough energy to power over one million homes by 2018 and reduce carbon emissions by an estimated 760,000 tons per year, according to the Climate Investment Funds (CIF) finance group.
OEF REVIEW:“It’s hard to see a dramatic price increase,” Vitol Group BV Chief Executive Officer Ian Taylor told Bloomberg in an interview, saying prices were likely to bounce around a band with a midpoint of $50 a barrel for the next decade. “We really do imagine a band,” probably between $40 and $60 a barrel, he said. “I can see that band lasting for five to ten years. I think it’s fundamentally different.”
OEF REVIEW:China’s oil demand will grow 4.3% this year to surpass 11 million barrels per day, compared to 4.8% growth last year, the country’s top energy group forecast on Tuesday. State-owned China National Petroleum Corporation (CNPC) sees the country’s oil demand rising to 566 million tonnes, or 11.32 million barrels per day in 2016, some 460,000 barrels per day higher than last year.