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Producción y mercados energéticos 06/03/19

Latest Energy News

06 March 2019

TOP STORY: China plans to set up new state-run oil and gas pipeline operator The Chinese state planner NDRC (National Development and Reform Commission) plans to establish a new nationwide oil and gas pipeline infrastructure group, which will combine the long-distance assets of the country’s state-owned energy companies. The NDRC has not given a timetable or any details so far and the formal plan will be announced later in 2019. The purpose behind the proposal is to help reform the energy sector by separating transmission and sales activities and by removing regulatory impediments to oil and gas exploration. With an open pipeline network, oil and gas producers would be able to focus on exploration and production activities without having to bear any additional costs to ship oil and gas to market. Once created, the new company would become the fourth large-scale state-run oil and gas company after Sinopec, CNPC and CNOOC. The most significant impact would fall on Petrochina, which currently controls the overwhelming majority of China’s oil and gas pipeline infrastructure. The creation of an oil and gas pipeline operator would be one of the largest revamps in the Chinese energy sector over the last two decades and would fit into the government current strategy, which aims at restructuring and streamlining several state-owned enterprises. The government is moving forward with reshuffling the energy sector and started with the coal producers, then the electricity generation assets and now the pipeline and fuel transportation market.

Companies Qatar’s Nebras Power acquires 3 Jordan power plants from AES Qatar-based power utility Nebras Power has entered into a sale and purchase agreement (SPA) to acquire stakes in three Jordanian power plants from AES Corporation (AES). The three assets are located in Al-Manakher, 15 km east of Amman, and are referred to as Al Manakher IPP1 (CCGT, 381 MW), Al Manakher IPP4 (dual fuel power plant, 250 MW) and Al Manakher AM solar power plant (40 MW). Read more Alpiq’s power generation remained stable in 2018 (Switzerland) Swiss power producer and trader Alpiq has announced its 2018 results. The group’s power generation increased by 0.3% to 14.8 TWh, spread as follows: thermal power (34%), nuclear (33%), large-scale hydropower plants (29%), and other renewables (4%). The group currently operates 6,100 MW of capacity spread across Europe. More specifically, Alpiq is present mostly in Switzerland (3,456 MW),… Read more Policy & Regulatory Colombian regulator awards OEFs to 1.4 GW of new wind and solar projects The Colombian energy regulator CREG (Comisión de Regulación de Energía y Gas) has awarded firm energy obligations (OEFs) to 70 power projects – including 1,398 MW of wind and solar projects – in the latest reliability charge auction (Subasta de Asignación de Obligaciones de Energía Firme) that aims at ensuring a steady power supply over the 2022-2023 period. Read more Energy Markets New Mexico court delays San Juan coal-fired power plant closure (US) The New Mexico Supreme Court (United States) has granted a request from the power utility Public Service Company of New Mexico (PNM) delaying regulatory proceedings related to the closure of the 847 MW San Juan coal-fired power plant (near Waterflow, New Mexico). Initially slated for retirement in 2022, the extension of its operational life is currently at stake and negotiations are going on. Read more Forecasts Chevron and ExxonMobil plan to raise US unconventional oil and gas output US-based oil and gas company Chevron has outlined its strategy for the years to come. Most of the Chevron’s future growth will be driven by the Permian Basin, where the company added almost 7 Gboe of resource in the Permian Basin and doubled its portfolio value over the 2017-2018 period. Read more Infrastructure & Investments Preliminary permit issued for 1.2 GW Oklahoma hydropower project (US) The United States Federal Energy Regulatory Commission (FERC) has issued a preliminary permit to the regional power utility Southeast Oklahoma Power Corporation for the development of the 1,200 MW Oklahoma pumped-storage hydropower project. Read more Total acquires 10% stake in Arctic LNG-2 project from Novatek (Russia) French oil and gas company Total has signed a sales and purchase agreement (SPA) with the Russian independent oil and gas producer Novatek for the acquisition of a direct 10% participation interest in the Arctic LNG-2 project on the Gydan Peninsula (Russia). Total already owns a 19.4% stake in Novatek (60% in Arctic LNG-2),… Read more