Latest Energy News
Policy & Regulatory
Vietnam approves new FiTs for solar power projects
9 Apr 2020The government of Vietnam has unveiled new feed-in tariff rates for utility-scale, rooftop and floating solar PV projects. The new text determines FiT prices based on three technology types: ground-mounted solar energy projects will receive VND1,644/kWh (US$7.09c/kWh), floating solar energy projects VND1,783/kWh (US$7.69c/kWh) and rooftop solar energy projects VND1,943/kWh (US$8.38c/kWh).
Read moreCompanies
CNOOC (China) aims to cut 2020 investment by 10-15%
9 Apr 2020China National Offshore Oil Corp (CNOOC) plans to cut its 2020 investments by 10% to 15% and to reduce losses at its unprofitable subsidiaries by CNY 5bn (US$710m) in 2020. However, the Chinese company has maintained its plans to raise its domestic oil and gas production in 2020.
Read moreTotal sells oil assets in Brunei, Liberia, Sierra Leone, invests in India
8 Apr 2020Total has sold non-core assets in exploration and production (E&P) in Brunei and marketing and services in Sierra Leone and Liberia for more than US$400m. In Brunei, Total has sold to Shell Total E&P Deep Offshore Borneo, which holds an 86.95% interest in Block CA1. Total was the operator of the block, together with Murphy Oil (8.05%) and Petronas (5%). The block net output to Total reached 5 kboe/d in 2019.
Read moreChina Three Gorges plans Shangai IPO to raise US$3.5bn
8 Apr 2020China Three Gorges (CTG) plans to launch an initial public offering (IPO) in Shanghai with the objective to raise CNY25bn (US$3.5bn). The company would sell up to 8.57 billion shares, i.e. up to 30% of its renewable subsidiary China Three Gorges Renewables Group, which holds a total capacity of more than 10 GW of solar, wind and small hydro plants. Thanks to the IPO, China Three Gorges would finance 7 offshore wind parks for CNY20bn (US$2.8bn) and use the remainder as working capital.
Read moreForecasts
EIA forecasts a 1.2 mb/d drop in US crude oil production in 2020-2021
9 Apr 2020According to the latest forecasts of the US Energy Information Administration (EIA), US crude oil production is expected to decrease by 0.5 mb/d (-4%) in 2020 to an average of 11.8 mb/d . It would be the first annual decline in crude oil production since 2016. In 2021, US crude oil production should decrease by another 0.7 mb/d (-6%) and would reach 11.1 mb/d. In addition, US motor gasoline consumption is set to fall by 9% in 2020 to 8.4 mb/d, while jet fuel and distillate fuel oil consumption decreasing by 10% and 5%, respectively.
Read moreInfrastructure & Investments
Scatec Solar completes 258 MW Upington solar power project (South Africa)
9 Apr 2020Scatec Solar has completed its 258 MW Upington solar power project in South Africa with the commissioning of the third 86 MW phase of the project, the Dyason’s Klip 2 solar park that is expected to generate 217 GWh/year; the entire project should generate 650 GWh/year.
Scatec Solar was awarded the project in April 2015 in the 4th bidding round under the Renewable Energy Independent Power Producer Programme (REIPP). Scatec Solar owns 42% in the project, in partnership with Norfund (18%), the Community of Upington (5%) and H1 Holdings (35%).
Read moreQatar postpones North Field LNG expansion project to 2025
9 Apr 2020Qatar’s oil and gas company Qatar Petroleum (QP) has confirmed its LNG expansion plans in Qatar and in the United States, despite the global crisis that is prompting international oil and gas companies to cut their investment plans.
Read moreKuwait’s Mina Al-Ahmadi refinery capacity expanded by 45 kb/d
9 Apr 2020Kuwait National Petroleum Corporation (KNPC) has completed a biofuels expansion at its Mina Al-Ahmadi refinery. The two additional units have a combined production capacity of 45,400 bbl/d.
Read moreBP delays FLNG delivery for Greater Tortue Ahmeyim (Senegal-Mauritania)
9 Apr 2020BP has sent to Golar LNG a force majeure notice seeking to delay the delivery of a floating liquefied natural gas (FLNG) facility for its its Greater Tortue Ahmeyim gas project offshore Mauritania and Senegal from 2022 to 2023. BP was expected to take delivery of a 2.5 Mt/year near-shore FLNG plant in 2022 and to charter it for 20 years. Golar LNG will hold talks with BP to establish the duration of the delay.
Read moreGerman regulator approves last section of SuedOstLink 2 GW power line
9 Apr 2020The German energy regulator Bundesnetzagentur (BNetzA) has approved the route for the fourth section of the 2 GW underground power line project SuedOstLink, linking Wolmirstedt to the Naumburg – Eisenberg area in Saxony-Anhalt and Thuringia. This 182 km long section approved by the BNetzA followed the proposal of the transmission network operator (TSO) 50Hertz.
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