Producción y mercados energéticos 22/08/2018
Latest Energy News
22 august 2018
TOP STORY:
Australia gives up on National Energy Guarantee objectives
The National Energy Guarantee (NEG) mechanism was adopted by the government in 2017 to define its post-2020 energy policy, and scheduled the end of subsidies and incentives for renewables from 2020 onwards. Under the NEG, renewables would have made up less than 40% of the country’s power mix by 2030, while emissions would have been reduced by 26% on 2005 levels by 2030, with a review in 2024. Besides, it also expected domestic retailers to use a certain percentage of their electricity from so-called dispatchable sources such as coal, gas, batteries and pumped hydro. The idea was to avoid blackouts and keep the power system stable at a lower price.
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Eletrobras (Brazil) approves terms of sales of stakes in 71 entities Brazil’s state-run power company Eletrobras has approved the terms of sales of stakes in 71 special purpose entities in an auction scheduled for the end of September 2018. The auction will include 18 lots and will fit into the company’s debt reduction programme approved last year.
ConocoPhillips reaches agreement with PDVSA to recover US$2bn (Venezuela) US-based oil and gas major has signed a US$2bn settlement agreement with the Venezuelan state-run company Petróleos de Venezuela (PDVSA), ending a decade-long oil dispute that affected Venezuela’s crude oil exports. As per the agreement,…
Policy & Regulatory Indonesia’s requires all diesel fuels to contain 20% bio-components The Indonesian government has officially updated the B20 regulation unveiled earlier in August 2018 and requires all regular diesel fuels used in the country to contain at least a 20% biodiesel component starting from September 2018. The update gives the country more leeway to subsidise the price gap between biodiesel and petroleum-based diesel fuel.
Energy Markets EGAT seeks to import 1.5 Mt/year of LNG (Thailand) Thailand state-run power company Electricity Generating Authority of Thailand (EGAT) has issued a Request for Expression of Interest (REOI) for interested parties to bid to supply 0.8 to 1.5 Mt/year of LNG over a 4-8 year period, starting from March 2019.
Infrastructure & Investments Drax Group’s coal-to-biomass conversion project moves forward (UK) The British power producer Drax Power has completed the conversion of another coal-fired unit at the 2,580 MW Drax power plant in North Yorkshire (United Kingdom) to biomass, as part of its 3,600 MW Repower coal-to-gas conversion and decarbonisation project.
AIIM buys majority share in South Africa solar and wind projects The fund manager African Infrastructure Investment Managers (AIIM) has purchased stakes in nine solar and wind power plants in South Africa with a total combined capacity of 800 MW.
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