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Producción y mercados energéticos 31/01/19

Latest Energy News

31 January 2019

TOP STORY: ExxonMobil and Petrovietnam plan 3 GW gas-fired power project in Vietnam US-based oil and gas company ExxonMobil and the state-run hydrocarbon producer Petrovietnam have awarded a contract for the front-end engineering and design (FEED) of an integrated gas-to-power project in central Vietnam. The proposed project will consist of an offshore platform to process natural gas from the Ca Voi Xanh field, located offshore Vietnam in block 118, a gas pipeline to connect to shore, an onshore gas treatment plant and pipelines to feed gas to third-party power plants to generate electricity locally. PetroVietnam, Vietnam Electricity, and Sembcorp have engaged discussions for the construction and operation of power plants with a combined capacity of 3 GW. ExxonMobil will lead the construction and operation of the the multi-billion dollar project and is currently filing appropriate permits, planning applications and other preparatory work for its further development. The final investment decision (FID) is targeted for 2020 based on executed gas sales agreements, regulatory approvals, governmental guarantees and economic competitiveness.

Companies Brazilian government mulls privatisating Petrobras and Eletrobras units The Brazilian Secretary of Privatisation is considering the privatisation of one or several subsidiaries of state-run oil and gas company Petrobras as the newly elected government is pushing for major state-owned firms to sell US$20bn in assets. Read more Policy & Regulatory Angola’s new oil regulator ANPG takes over upstream attributions The creation of Angola’s new upstream oil and gas licensing authority, the National Oil and Gas Agency (ANPG), has been made official at the beginning of January 2019 by presidential decree. The new governmental body is progressively taking over the role of upstream concessionaire from the state-held oil and gas company Sonangol,… Read more Taiwan cuts offshore wind feed-in-tariffs for 2019 by 6% The Taiwanese Ministry of Economic Affairs has introduced a new feed-in-tariff (FiT) set at TWD5,516/MWh (about US$1.8c/kWh) for 20-year offshore wind power purchase agreements (PPAs) that will be signed in 2019. This represents a 6% cut compared with the previous FiT rate set for 2018 (TWD5,849/MWh or US$1.9c/kWh) and is actually twice less than the 12.7% decrease initially planned. Read more Infrastructure & Investments Abu Dhabi power utility EWEC issues EoI for 2 GW power project (UAE) State-run power utility Emirates Water and Electricity Company (EWEC) has issued an Expression of Interest (EoI) tender for the development of the 2,000 MW Fujairah combined-cycle gas turbine (CCGT) project in Fujairah (United Arab Emirates). Expected to be built as an Independent Power Project (IPP),… Read more German regulator starts evaluating 2 GW SuedOstLink power line project The German energy regulator BNetzA (Bundesnetzagentur) has started evaluations of the 2 GW «SuedOstLink» high voltage direct current (HVDC) power line project, which will consist of a DC line spanning across 580 km from Wolmirstedt in Saxony-Anhalt to Landshut in Bavaria (Germany). Read more NTPC’s 1.6 GW Darlipali power project will produce power shortly (India) Indian state-owned power generation company NTPC expects the first 800 MW unit of its 1,600 MW Darlipali (also spelled Darlipalli) thermal power plant in Odisha (India) to generate first power by the end of March 2019. The second unit is also under construction and will start generating power around six months after the first unit produces electricity. Read more ExxonMobil plans to expand capacity of Beaumont refinery by 65% (US) Oil and gas company ExxonMobil has reached a final investment decision (FID) for the construction of a new unit at the Beaumont refinery in Texas (United States). Construction has started and once built, it will increase its crude refining capacity by more than 65%, adding 250,000 bbl/d to the existing capacity of 366,000 bbl/d. Read more