Blog

The Parliament of New Zealand has adopted a law aiming to cut CO2 emissions to net zero by 2050, making the new 2050 greenhouse gas (GHG) reduction target legally binding. The government had approved a law to make New Zealand carbon neutral by 2050, except for GHG emissions of the agricultural sector. According to the bill, methane emissions from animals will have a different treatment, but will still have to reduce by 10% by 2030 and by up to 47% by 2050. The bill also established a Climate Change Commission in charge of elaborating a roadmap and plan to be updated every five years.

International oil companies have showed no interest in the Brazilian four blocks auction with total reserves estimated of 20 Gbl. Only Brazil’s national oil company Petrobras and China’s CNOOC and CNODC have posted bids, winning in consortium the Buzios block. Petrobras obtained a 90% participation in the block, whereas the two Chinese companies shared the remaining 10%.

Ghana will amend its licensing framework in a bid to expand production, announced the Deputy Minister for Petroleum during a conference in Cape Town (South Africa). The suggested modifications would authorize enterprises already operating a block to explore in the same area without applying for a new permit.

The State of Gujarat (Western India) aims at increasing its renewable power capacity from the current 9.7 GW to 30 GW by 2022. The existing renewable power capacity of Gujarat is divided between wind (6.9 GW) and solar (2.6 GW). In September 2019, the State Government of Gujarat decided to no longer give clearance to new thermal projects.

South Africa announce it will create three new Renewable Energy Development Zones (REDZ) for renewable energy projects in addition to the eight areas identified in 2015. The zones have been chosen based on their potential in term of wind and solar energy, as well as their proximity with coal-fired power plants to be decommissioned.

The Hungarian Energy and Public Utility Regulatory Authority (MEKH) has launched its first auction to award feed-in premiums to renewable projects with an installed capacity comprised between 0.3 and 20 MW. MEKH has earmarked a total of HUF1bn (€3m) under the renewable power support scheme METÁR, corresponding to up to 200 GWh/year over 15 years. …

Equinor made an oil gas discovery at exploration well 35/11-23, Echino South, near the Fram field in the Norwegian North Sea; with recoverable resources estimated at 38-100 Mboe.

Argentina postponed the deadline to bid for a US$800m new gas pipeline from the Vaca Muerta shale gas field (in the Neuquén province) to Salliqueló, Greater Buenos Aires and the Litoral area from 4 November 2019 to 31 March 2020. The gas pipeline project will stretch over 570 km and will have a capacity of 15 mcm/d (nearly 5.5 bcm/year) in its first stage.