Latest Energy News
Policy & Regulatory
European Commission maintains EU ETS deadline despite delay calls
30 Mar 2020The European Commission has decided to maintain the 30 April 2020 deadline for European companies to surrender emissions trading system (ETS) carbon allowances, considering that the existing rules provide enough flexibility for companies to submit verified emissions reports around that date.
Read moreUS suspends plans to buy crude oil for the Strategic Petroleum Reserve
30 Mar 2020The US administration has suspended plans to purchase US crude oil for the Strategic Petroleum Reserve (SPR), after failing to secure funding from the Congress, and has withdrawn a tender for the first part of its oil purchase programme.
Read moreCompanies
NTPC acquires government’s stake in NEEPCO, THDC (India)
30 Mar 2020India’s largest thermal power generation group NTPC has acquired the majority stakes held by the Indian Ministry of Power in two power generation companies for INR115bn (US$1.5bn).
Read moreTokyo Gas aims to boost its power market share in Japan
27 Mar 2020The Japanese gas utility Tokyo Gas has released its new three-year business plan until March 2023, aiming to raise its profit by 18% to JPN 140bn (US$1.3bn) by this date. The company will focus on expanding its power activities, LNG trading and overseas activities and aims to raise by more than half the number of its electricity customers, from 2.4 million to 3.8 million by March 2023.
Read morePetrobras (Brazil) announces cuts in oil production and investments
27 Mar 2020Due to the COVID-19 pandemic and the oil price war, the Brazilian national oil and gas company Petrobras has decided to cut planned investments for 2020 from US$12bn to US$8.5bn (-29%), delaying exploratory activities, interconnection of wells and construction of production and refining facilities. In addition, the company will reduce its operating expenses by US$2bn by mothballing operational platforms in shallow water fields with higher lifting cost per barrel, optimising production logistics and postponing new material contracts for 90 days.
Read moreForecasts
Chile expects to reach 10 GW of renewable capacity in October 2021
30 Mar 2020According to Chile’s National Energy Commission (CNE), the installed capacity of non-conventional renewable energies (i.e. excluding large hydropower) in Chile could reach 10 GW in October 2021. So far, nearly 5.4 GW of renewable projects are operational, accounting for 22% of Chile’s total installed capacity. In addition, 776 MW are under tests and over 4.2 GW are under construction and expected to be commissioned by October 2021. Solar would account for 55% of the renewable capacity in 2021 (5.5 GW), followed by wind (36%, 3.6 GW), biomass (6%, 615 MW) and mini-hydro (6%, 551 MW).
Read moreInfrastructure & Investments
2.6 bcm/year capacity booked at Alexandroupolis LNG project (Greece)
30 Mar 2020Greek infrastructure company Gastrade has concluded the binding phase of market tests for its proposed Alexandroupolis LNG floating storage and regasification unit (FSRU) in northern Greece and received binding offers to reserve regasification
Read moreWoodside Petroleum delays several key LNG projects in Australia
30 Mar 2020Due to the coronavirus pandemic and the fall in oil prices, Australian independent gas producer Woodside Petroleum has decided to reduce its planned expenditure in 2020 by around 50% to AUD2.4bn (US$1.5bn), including a 60% cut in investment expenses to AUD 1.7-1.9bn (US$1-1.2bn). The firm will also slash its operating spending by AUD100m (US$61m).
Read moreCairn Energy plans to cut investment in Sangomar oil project (Senegal)
30 Mar 2020The British independent oil and gas company Cairn Energy and its partners are currently reviewing their spending plans, and they plan to reduce and delay investment in the $1.2bn Sangomar Field Development Phase 1 project in Senegal. In 2020, the consortium is expected to spend less than US$330m on Sangomar, whereas US$400m was originally planned.
Read moreNew delay for Flamanville-3 nuclear project in France to 2024
30 Mar 2020The French government has allowed EDF to postpone by 4 years the deadline for commissioning its 1,650 MW EPR in Flamanville, extending it to 2024, as the coronavirus crisis is slowing down works on the nuclear project.
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