Latest Energy News
Policy & Regulatory
NYSERDA (US) plans a 1-2.5 GW offshore wind tender in July 2020
27 Apr 2020The New York Public Service Commission (PSC) has allowed the New York Energy Research and Development Authority (NYSERDA) to launch a new tender for at least 1 GW and up to 2.5 GW of offshore wind capacity. The tender should be issued in July 2020.
Read moreNorway plans to expand its restricted area for upstream Arctic activity
27 Apr 2020The Norwegian government has proposed to extend its forbidden area for oil exploration in the country’s Arctic waters (so-called ice edge boundary). The new limit is located where sea ice appeared 15% of the time in April from 1988 to 2017, whereas the previous boundary was based on 30% probability and the years between 1967 and 1989. The new line remains sufficiently far north and doesn’t affect existing explorations licences. The new no-go zone proposal will be presented for approval to the parliament.
Read moreFrance releases implementing decrees for its energy and climate strategy
24 Apr 2020The French Ministry for the Ecological and Inclusive Transition (MEIT) has issued two decrees implementing the Multi-annual Energy Plan to 2028 (Programmation pluriannuelle de l’énergie, PPE) and the National Low Carbon Strategy, which were first released in January 2019. The parliament adopted the French Strategy for Energy and Climate (Energy-Climate Act), which is based on these two policies, in September 2019.
Read moreArgentina postpones measures to increase oil and gas production
24 Apr 2020Argentina has suspended policies and incentives aimed at accelerating hydrocarbon production from the Vaca Muerta shale play due to the international context, low oil and gas demand and collapsing prices. The government maintains discussions with oil and gas producers and is considering support measures, such as setting a minimum oil reference price for local producers at US$45/bbl, with the objective to increase domestic production and to limit imports.
Read moreCompanies
Brazil postpones privatisation of power utility Eletrobras to 2021
27 Apr 2020The Brazilian government has decided to postpone the privatisation of Eletrobras from October 2020 to the second quarter of 2021 due to the coronavirus pandemic. Brazil initially expected to privatise around BRL150bn (US$27bn) in assets during 2020 focusing on energy assets from Eletrobras, with the objective to reduce the numbers of companies held by the government from 624 (at end-2019) to 300 by end-2020.
Read moreEni plans to reduce its hydrocarbon output by 100-150 kboe/d in 2020
27 Apr 2020Eni has decided to reduce its capital expenditure (capex) plan by €2.3bn in 2020 (-30%) and by €2.5-3bn (-30 to -35%) in 2021 in a context of falling oil prices and epidemic outbreak. The capex reduction will focus on the exploration and production (E&P) segment, with several project re-phased. The Italian energy group, which produced 1.87 mboe/d of oil and gas in 2019, has reduced its 2020 production forecast from 1.9 mboe/d to 1.75-1.8 mboe/d in 2020.
Read moreEnergy & Climate Markets
Enercon will supply turbines for 310 MW of wind projects in Vietnam
27 Apr 2020Enercon has won wind turbine orders for six wind projects in Vietnam, with a combined capacity of 310 MW. The projects are expected to be commissioned by the end of 2021 and will benefit from feed-in tariffs (FiT). Enercon entered the Vietnamese market in 2019 and has recently completed the construction of a 64 MW wind project in the Ninh Thua province.
Read moreEni and Naturgy fail to agree on Damietta LNG plant in Egypt
27 Apr 2020The Italian and Spanish gas groups Eni and Naturgy have failed to complete their March 2020 agreement with the Egyptian government over the 5 Mt/year (6.75 bcm/year) Damietta gas liquefaction plant in northern Egypt.
Read moreEnergy Prices & Taxes
Indonesia owes PLN US$3bn for 2 years of electricity subsidies
27 Apr 2020The government of Indonesia owes IDR48,000bn (US$3.1bn) to the state-owned power company PLN for electricity subsidy costs incurred over the last years. It includes IDR23,000bn (US$1.5bn) for subsidies in 2018 and IDR25,000bn (US$1.6bn) for 2019.
The slow disbursement of funds, power infrastructure investment and electricity price caps have put a strain on PLN’s cash flow. Consequently, the company recently issued IDR1,730bn (US$112m) in bonds, started to review its capital expenditures and initiated talks with banks over reprofiling debt.
Read moreInfrastructure & Investments
Neoenergia secures incentives for 467 MW of wind projects (Brazil)
27 Apr 2020The Brazilian government has put 10 wind parks of Neoenergia’s Oitis wind complex under the Incentive Regime for Infrastructure Development (REIDI). The Oitis wind complex consists of 12 wind parks with a combined capacity of 566 MW in the states of Piaui and Bahia and the 10 parks entering the REIDI scheme have a total capacity of 467.5 MW.
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