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EV market may create copper deficit
Auto fleets' shift to electric vehicles in a global drive to cut carbon emissions will involve a drawdown on copper that could transform markets, and spur additional supply.
REM: Saudi’s leading operator of power generation and desalinated water plants ACWA Power to privatise minority stake
Petrobras under pressure from shareholders to exclude 14 blocks from 17th Bidding Round
Petrobras has been asked by a group of shareholders to eliminate more than a dozen offshore blocks from the roster of sites included in the 17th Bidding Round.
FPRI BMB Ukraine: Ukraine records one of its hottest summers ever
Summer 2020 was one of the hottest ever recorded in Ukraine. With the agriculture sector generating about a tenth of the country’s GDP and employing 22% of the population, experts suggest that Ukraine is more sensitive to climate change than many.
AfrElec: Eskom outlines ambitious $7.2bn investment in wind and solar
South Africa’s Eskom aims to invest ZAR106bn ($7.2bn) in 5.6 GW of new solar capacity and 8.2 GW of new wind projects over the next decade in a bid to reduce emissions and lessen coal’s dominance of the economy.
AsiaElec: South Korea’s oil and gas funding calls green commitments into question
South Korea provided $127bn in support for overseas oil and gas projects between 2011 and 2020 as government-backed development finance institutions (DFIs) continued to support fossil fuels as the government talked up green energy.
The crushing weight of China’s debt burden on Eurasia
Emerging European economies were already facing heavy debt burdens before the pandemic. Now it’s worse. Several countries in Eurasia and Emerging Europe are struggling to pay off huge loans they took from China.
MEOG: Iraq back on track
DMEA: Kuwait extends CFP contract
NorthAmOil: Hurricane Ida disrupts Gulf operations
Production in the US Gulf of Mexico and coastal downstream operations alike were severely disrupted by Hurricane Ida this week, which made landfall in Louisiana as a Category 4 hurricane on August 29.
GLNG: Indonesia approves Tangguh LNG expansion, CCUS plan
Indonesian regulator SKK Migas has approved the development plan for an expansion and a carbon capture, utilisation and storage project at BP’s Tangguh LNG export complex in Papua Barat.
LatAmOil: Petrobras shareholders seek to narrow scope of 17th Bidding Round
Petrobras has been asked by a group of shareholders to eliminate more than a dozen offshore blocks from the roster of sites included in the 17th Bidding Round.
AfrOil: AfDB head optimistic about Mozambique LNG
Akinwumi Adesina, the president of the African Development Bank (AfDB), has said he believes that TotalEnergies (France) will be able to resume work on the Mozambique LNG in about 12-18 months.
EurOil: Wood urges against end to oil exploration
FSUOGM: Sechin pushes for access to European gas market
Hungary and Russia reach long-term gas supply agreement
The agreement, to be signed at the end of September and coming into force from October 1, will be in force for 10+5 years.
REM: Germany’s RWE Group ramps up foothold in US renewables market
Germany’s RWE Group ramps up foothold in US renewables market, completing a wind project in New York State and signing a power purchase agreement for a solar project in Texas.
AsianOil: Pertamina wins regulatory approval for Gajah Besar development
Indonesia’s state-owned Pertamina has secured regulatory approval for its plan of development (PoD) for the Gajah Besar natural gas and condensate field onshore South Sumatra.
bneGREEN: Russia drafts hydrogen development plan
Russia plans to emerge as an exporter of hydrogen within the space of a few years and supply as much as 12mn tonnes per year (tpy) of the fuel by 2035, under a draft development plan approved in August.
On Guyana’s future prospects
IEEFA, a US-based non-profit, says the Stabroek contract may unfairly curb Guyana’s earnings from oil sales. Its arguments may have the effect of drying up funding for future investors seeking to follow ExxonMobil’s example.
Enagas, Acciona Energía, GNL Quintero team up for green hydrogen project
Two Spanish companies are looking to build a green hydrogen production facility at Chile’s Quintero LNG import terminal.
Renergen signs LNG supply agreement with Consol Glass
South Africa’s Renergen revealed last week that it had agreed to supply LNG to Consol Glass, a Johannesburg-based supplier of glass packaging materials.
AfrElec: Siemens seals 200-MW green hydrogen deal in Egypt
Siemens and Egyptian Electricity Holding Company (EEHC) are to develop a 200-MW pilot green hydrogen production as part of a long-term effort to tap Egypt’s large renewable power resources for hydrogen production and export.
Nord Stream 2 fails to get exemption from EU gas market rules
A court in Germany has ruled that Russia’s controversial Nord Stream 2 pipeline should not be exempt from EU gas market rules, creating new headaches for the project’s state-owned operator Gazprom, which may be unable to use half the capacity.
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