Daily Energy News
Companies
Tullow Oil’s shareholders clear sale of Ugandan oil assets to Total
20 Jul 2020The shareholders of Tullow Oil have approved the proposed sale of the company’s entire interests in Blocks 1, 1A, 2 and 3A in Uganda and of the proposed East African Crude Oil Pipeline System to Total. In April 2020, Total agreed to buy Tullow’s entire interests in the Lake Albert oil development project in Uganda, including the East African Crude Oil Pipeline (EACOP) for a total consideration of US$575m.
Read moreCzech TSO suspends gas interconnection projects with Poland and Austria
20 Jul 2020The Czech gas transmission system operator (TSO) Net4Gas has released its 2021-2030 investment plan and decided to postpone and scale back gas interconnection projects with Poland and Austria, since these projects were not included in the European list of projects of common interest (PCI).
Read moreGlobal oil company group sets carbon intensity target
20 Jul 2020The Oil and Gas Climate Initiative (OGCI), grouping together BP, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Petrobras, Repsol, Saudi Aramco, Shell and Total, has set a carbon intensity target, seeking to reduce the average carbon intensity of the companies’ upstream oil and gas operations from around 23 kgCO2e/boe in 2017 to 20-21 kgCO2e/boe by 2025. According to the OGCI, this would correspond to a reduction of 36 to 52 MtCO2eq each year by 2025 (assuming a stable oil and gas production).
Read moreUS oil producer California Resources files for bankruptcy
20 Jul 2020California Resources, the largest oil and gas producer in California (United States), has filed for Chapter 11, seeking bankruptcy protection after defaulting on interest payments. The company, which was spun off from Occidental Petroleum in 2014, is massively indebted and the recent fall in global oil prices due to the coronavirus pandemic and the fall in demand prompted the company to cut production and capital spending and to announce plans to restructure its debt. California Resources has reached an agreement for US$1.1bn debtor-in-possession financing package.
Read moreInfrastructure & Investments
ENDE Transmision invests in the Bolivian power transmission grid
20 Jul 2020Bolivia’s state-owned power transmission company ENDE Transmision has awarded a US$10m contract to Ingener, as part of its plans to expand the power transmission network in Bolivia with the construction of 115 kV and 230 kV lines between the northern, central and eastern areas of the National Interconnected System. Ingener will develop and commission a reactive power compensation system at the new Paraíso substation (230/115 kV) near Trinidad, in the Beni province.
Read moreMozambique LNG project secures US$3bn loan from JBIC
20 Jul 2020The Japan Bank for International Cooperation (JBIC) has approved a US$3bn loan agreement for the Mozambique LNG project, completing the US$14.4bn financing for the project, which has also received financial support from the African Development Bank (AfDB), the Export-Import Bank of the United States (US-Exim), UK Export Finance (UKEF), the Export-Import Bank of Thailand (Exim Thailand) and 21 private financial instit
Read moreAdani starts works on Carmichael coal mine in Australia
20 Jul 2020The Indian energy group Adani has started work at the Carmichael coal mine in Queensland (Australia), which had received final approval from the Environment Department of Queensland in June 2019, and the company expert to export the first coal from the project in 2021. The Carmichael mine is expected to produce 10 Mt/year of thermal coal from six open-cut pits and five underground mines, which would be exported to India and south-east Asia.
Read moreSouth Korea moves ahead with 2.1 GW floating solar project
20 Jul 2020EN Technologies (South Korea) and Ocean Sun (Norway) have signed an agreement to jointly develop a floating solar demonstration system with a follow-on option for a minimum 100 MW within 18 months, as pilot projects for the 2.1 GW floating solar project in Saemangeum (South Korea). Another 400 MW of floating solar capacity could be added within 5 years.
Read morePolicy & Regulatory
Nigeria works on legal framework to protect power sector investment
17 Jul 2020The National Assembly of Nigeria (NASS) and the Nigerian Electricity Regulatory Commission (NERC) are jointly working on a legal framework to protect investment in the power sector. They would focus on energy theft, ensuring potential investors that their investments in power distribution and supply are protected.
Read morePanama considers 200 MW renewable power auction and EV support law
17 Jul 2020The Government of Panama is considering launching an auction for 200 MW of renewable power capacity to supply state entities. A first pilot auction could be opened before the end of 2020 for 30 MW to 40 MW (it could be later expanded to 200 MW) and it would be opened to all technologies. Panama is also working on a new law (Law of Fiscal and Non-Fiscal Incentives for the Development of Electric Mobility) to support electric mobility, to open the sale of electricity for electric vehicles; since 1997, only power distribution companies can sell electricity.
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