The Lianzi oil field is located in a unitised zone which includes parts of the Block 14 License (Republic of Angola) and the Haute Mer Permit (Republic of Congo) about 105km offshore, at water depths ranging from 820m to 1,070m.
Oil prices have increased above $50 a barrel after a report by the American Petroleum Institute (API) highlighted a fall in US crude inventories.
Brent crude rose 33 cents at $50.95 a barrel, while the US crude increased 46 cents to $50.31, Reuters reported.
The global oil glut will probably persist until at least next summer as markets take time to absorb excess crude in storage, according to the head of research at the world’s second-largest sovereign wealth fund.
South Africa's 2010 Integrated Resource Plan (IRP) targeted 8.4 GW of wind and 8.4 GW solar capacity by 2030 and in 2011 the government launched its Renewable Energy Independent Power Producer Procurement Program (REIPPPP) to accelerate development.
The REIPPPP has thus far procured 3.4 GW of wind, 2.4 GW of PV and 400 MW of CSP capacity and has attracted 193 billion rand ($13 billion) of private sector investments.
The API meetings are conducted twice a year: spring and fall. This year’s spring meeting was in Chicago; several weeks later than it has been in the past, but at least we weren’t snowed in like last year’s fall meeting. There were a record number of attendees; in the order of 150+ in the committee meetings.
U.S. refiners are shifting their output mix to increase the gasoline production share and reduce the distillate production share, which is increasing gasoline inventories and beginning to reduce the gasoline crack spread—the difference between gasoline futures prices and crude oil. Monthly average gasoline crack spreads are now lower than they were last year, according to the U.S. Energy Information Administration (EIA), the second consecutive month of year-over-year declines. While distillate crack spreads are also lower than last year, they are only 3 cents per gallon (gal) lower than the five-year average and have increased 9 cents/gal over the past two months. Changing gasoline-to-distillate production ratios are a contributing factor in the difference in crack spreads.
The key difference beteween a floating ball valve and a trunnion mounted ball valve is how each achieves a line seal. Trunion mounted ball valves are uses a spring mechanism and/or line pressure assistance to drive the upstream seat against the stationary ball. The surface area exposed to the pressure through the relatively small passageway is actually just the back of the seat.
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