Energy Sector

Areva "preferred bidder” for UK Nuclear Decommissioning Plant Deal

On Tuesday Areva the French controlled nuclear group said that it was selected as a "preferred bidder" by Sellafield Ltd. the U. K nuclear unit as part of a syndicate for building a plant which would process the radioactive waste in Britain.

The Silos Direct-encapsulation Plant (SDP) project will be among the most high profile projects for nuclear decommissioning in UK.

U.S. gasoline prices expected to jump further

The U. S. national average retail gasoline price, which has jumped 2.6 cents in the last one week period to $3.50 per gallon, will likely jump further in the coming weeks, as per gasoline price website GasBuddy. com.

Patrick DeHaan, senior petroleum analyst at GasBuddy. com, said the gasoline prices might slow nationally in the near future but the peak in prices was yet to be seen.

Refineries will soon undergo one of their two yearly maintenance seasons. The wrap up of refineries for maintenance often leads to increase in gasoline prices.

Supply worries push U.S. gasoline prices up

The average U. S. price of gasoline has increased by nearly 10 cents over the last two weeks amid worries about the ongoing conflict between Russia and Ukraine, according to latest Lundberg survey.

The latest Lundberg Survey, released on Sunday, said the price of regular gasoline jumped to $3.51 per gallon, up 0.0987 and 0.2154 from the last two and four weeks, respectively.

Midgrade gasoline now costs an average of $3.69 per gallon, while premium variant of the fuel costs $3.84.

NZ Superannuation Fund defends investment in US energy project

The New Zealand Superannuation Fund has defended its decision to invest in a wind energy project in the US after the investment was criticised by an analyst.

The fund has announced that it will invest $55 million in a new wind turbine development that will be managed by American company called Ogin Energy. Ogin uses aerospace technology to produce wind turbines but is not listed yet.

U.S. average gasoline price jumps to $3.25 a gallon

Average gasoline price at U. S. pumps jumped more than by more than 3 cents over the past two weeks, and the upward trend is expected to continue, according to Lundberg Survey Inc.'s latest report.

According to the recently-published Lundberg report, the average price for regular gasoline in the U. S. jumped 3.4 cents over the past two-week period ended November 22 to $3.25 per gallon. The average hit its year-to-date highest level at $3.80 on February 22.

Fracking might help bring down US Carbon Emissions

Media reports have indicated that the US Carbon Emissions fell to 1994 Levels during 2012 mainly due to fracking and horizontal drilling revolutions in the country.

Fracking involves creating little explosions underground and then flooding with water and chemicals to obtain gas trapped in shale rocks. There were concerns that the controversial fracking technique for extraction gas trapped under the rocks could damage the environment and pollute the ground water.