Senegal retracts minister's comments on nationalisation of gas fields as the end of licence nears
The Senegal energy ministry retracted its previous statement on Thursday that it intended to nationalise Yakaar Teranga, a U.S.-owned gas field. Both parties indicated the licence would be handed back to the state in July next year. Birame Souleye Diop, Senegal’s Energy Minister, said Tuesday that the government wants to nationalize Yakaar Teranga. State-run Petrosen owns the remaining 10%. Both companies are looking for a third partner to enter the project and progress a plan of development. However, no breakthrough has yet been made.
Russia expects oil refining in 2025 to be flat with 2024
The Russian energy ministry announced on Thursday that the country's oil refinery, coal and gas?production?will remain largely unchanged in 2025, compared with 2024, despite repeated Ukrainian drone attacks against energy facilities. Russia is the third largest oil producer in the world, after Saudi Arabia and the United States. It also holds the largest known reserves of natural gas. Since August, Ukraine has resumed drone strikes deep within Russia. Ukrainian drones have struck at least 17 refineries, forcing Russia to reduce fuel exports and order additional drone defences.
Kazakhstan to Divert Kashagan Oil to China After Ukraine Drone Attack
Kazakhstan said on Wednesday it would redirect some oil from its Kashagan field to China and other routes after a Ukrainian drone attack last month on the Caspian Pipeline Consortium's Black Sea terminal in Russia.The decision was announced by the energy ministry after Reuters reported earlier this week that Kazakhstan plans to supply crude to China directly from Kashagan for the first time after the Ukrainian attack damaged the CPC terminal.The CPC, which accounts for 1% of global crude supply and includes Russian, Kazakh and U.S.
The decision on the French energy planning bill is expected to be made by Christmas
The French energy ministry announced on Tuesday that the country will take a final decision on the "delayed multiannual planning law" (PPE). The 'PPE' is a 10-year plan that outlines the country’s goals on everything from renewable and nuclear energy to climate change. However, political fights over renewable energy frameworks have caused long delays in its publication. The ministry has not given any indication of what this decision means or whether it will be voted on or passed by decree.
Kazakhstan to Directly Supply Kashagan Oil to China Due to CPC Damage
Kazakhstan plans to supply 50,000 metric tons of crude to China directly from the vast Kashagan field in December for the first time after a Ukrainian drone damaged the Black Sea terminal of the Caspian Pipeline Consortium (CPC), two sources told Reuters.The CPC, which accounts for 1% of global crude supply and includes Russian, Kazakh and U.S. shareholders, has had to reduce exports because a key part of its loading infrastructure - a single-point mooring (SPM) - was damaged in the attack.Currently…
India does not advise to stop funding clean energy
The Indian Ministry of Clean Energy said on Sunday that it has not issued an advisory to stop or halt any new funding for the sector. On Friday, the Ministry of Finance urged lenders to be cautious in their financing of new solar modules plants due to a surplus supply. Solar manufacturers across the country were rattled by the letter from the clean energy ministry. Many expressed concern that it could choke off financing for the entire industry. The Ministry of New and Renewable…
India does not advise to stop funding clean energy
The Indian Ministry of Clean Energy said on Sunday that it has not issued an advisory to stop or pause new financing in the sector. On Friday, the Ministry of Finance urged lenders to be cautious in their financing of new solar modules plants due to a surplus supply. Solar manufacturers across the country were rattled by the letter from the clean energy ministry. Many expressed concern that it could cause a financial squeeze on the entire industry. The Ministry of New and Renewable…
India's Ministry of Finance urges caution in lending for solar modules as a glut is looming, a letter shows.
A letter from the ministry reviewed by revealed that the ministry urged banks to be cautious when financing new manufacturing capacities of solar photovoltaic modules, due to the possibility of oversupply on the local market. Over the last three years, several Indian companies have increased their solar module production capacity with the aim of exporting to the United States. The U.S. has increased its tariffs on Indian components made in China and is more concerned about the quality of these parts. This has led to a drop in exports.
Romanian Brazi Power Plant resumes operation after being shut down by the state
Romanian energy company OMV Petrom is majority owned by Austrian OMV. Its 860 MW, gas-fired Brazi Power Plant has resumed operation after being forced to close due to water restrictions in the Paltinu Dam, which it relies on. According to the company, Brazi's power plant will soon be operating at full capacity. The plant supplies about 10% of the electricity in the country. The Energy Ministry said that 300 MW had been reconnected with the national grid. The plant was operating at a reduced capacity since November 30, and shut down completely on Tuesday.
Clean energy companies in India are seeking better weather data, as regulations tighten.
India's clean-energy producers highlighted the lack of weather forecasting models on Wednesday, while the power regulator proposed stricter rules for developers to adhere to their grid commitments. The Central Electricity Regulatory Commission in India, which regulates the power industry, has issued stricter rules for wind and solar energy producers. This is under the Deviation Settlement Mechanism. The draft framework was to be implemented from April 2026. Its aim is to gradually reduce the gap between what electricity producers promise to supply and how much they actually produce.
Romania adopts decree to control Lukoil local assets
The coalition government in Romania approved a decret on Tuesday that allows it to control the assets local of companies subject to international sanctions such as Russia's Lukoil. Lukoil operates 320 petrol stations across Romania. It is the third largest refinery in the country and has offshore exploration rights for a part of the Black Sea. For weeks, the refinery has been closed for maintenance. It accounts for about one-quarter of Romania's fuel supplies. Officials say that the European Union member states has enough reserves to prevent price spikes…
Orsted and ESB won 900 MW of offshore wind tenders in Ireland
Orsted announced on Wednesday that Ireland had awarded the rights to build a 900 Megawatt (MW), offshore wind farm, to a joint-venture between Denmark's Orsted utility and Irish utility ESB. The Tonn Nua project was awarded with a 20-year contract-for-difference (CfD) secured at a strike price of 98.72 euros ($114.32) per megawatt hour. Developers are guaranteed a fixed electricity price. Any savings or costs resulting from wholesale price fluctuations will be passed on to consumers.
Ghana wants to take over Springfield oil block as a state-owned company, says ministry
Ghana has begun talks to acquire Springfield Exploration's share in a block offshore that holds an estimated 1,5 billion barrels worth of oil. The energy ministry announced this as Ghana seeks to boost its economy by reversing the decline in production. The ministry announced on Wednesday that it would pursue a state-led acquisition of Springfield's interests in the West Cape Three Points Block 2 via state oil company GNPC. The potential takeover aims to unlock the long-term value of the block and protect Ghana's oil output, the ministry stated.
Syria signss gas cooperation agreement with ConocoPhillips & Novaterra
Syria's Energy Ministry announced on Tuesday that the Syrian Petroleum Company and U.S. ConocoPhillips have signed a Memorandum of Understanding to expand their cooperation in natural gas. Syria produces only a fraction (of the electricity needed) of what it requires today due to the destruction caused by its 14-year civil conflict. However, the power supply has significantly improved in recent months, thanks to gas imported from Azerbaijan, and Qatar. The Ministry said that the MoU covers the development of existing fields of gas and the exploration of new ones…
Norway loses an appeal over oilfield development
The Norwegian Court of Appeal ruled against the government and in favor of environmentalists on Friday, confirming the lower court's ruling that the approval by the Energy Ministry of three offshore oil-and-gas fields was invalid. The court said that production from the oilfields affected would not stop, but the government could correct any deficiencies in the original approvals. Greenpeace Norway, Young Friends of the Earth Norway, and other environmental groups will file a lawsuit in 2023 regarding the approval of Equinor’s Breidablikk field and Aker BP’s Tyrving and Yggdrasil.
Lukoil attracts buyers for its foreign assets
The foreign assets of Russian oil giant Lukoil, which range from Egypt to Kazakhstan are attracting bidders. Time is running out for the deals to be completed before U.S. sanctions are enforced. As part of their efforts to get the Kremlin into peace talks on Ukraine, the U.S. has imposed sanctions against Lukoil. They have already blocked Lukoil’s attempts to sell foreign assets before the deadline of November 21, 2015. Sanctions have already affected Lukoil operations in Iraq and at pump stations in Finland, as well as a refinery located in Bulgaria.
Palm ends two-day gains with firmer Ringgit
The market for Malaysian palm oils futures ended two sessions of gains in a row on Wednesday as the ringgit strengthened, making the commodity more costly to buyers who hold foreign currencies. At the close, the benchmark contract for palm oil delivery in January on Bursa Derivatives exchange fell 12 ringgit or 0.29% to 4,125 Ringgit ($976.56) per metric ton. The contract has risen 0.61% over the last two sessions. David Ng said that the market was lower due to the stronger ringgit, a proprietary trading at Kuala Lumpur based trading firm Iceberg X Sdn. Bhd.
Palm oil prices drop on firmer Ringgit
After two sessions of gains, Malaysian palm oils futures fell on Wednesday. The ringgit's strength has made the commodity costlier for buyers who hold foreign currencies. At the midday break, the benchmark palm oil contract on Bursa Derivatives exchange for January delivery fell 14 ringgit (0.34%) to 4,123 Ringgit ($976.09) per metric ton. The contract has risen 0.61% over the last two sessions. David Ng said that the market was lower due to the stronger ringgit, a proprietary trading at Kuala Lumpur based trading firm Iceberg X Sdn. Bhd.
Top official: India may miss its 2030 green hydrogen production targets
A senior government official stated on Tuesday that some green hydrogen projects in India, which are geared towards export, will likely start later than initially planned, due to global policy uncertainty. This could delay the country's clean-fuel ambitions. Santosh Sarangi said that the country expects to reach its original target of 5 MMTPA by 2032 and produce 3 million metric tons (MMTPA), green hydrogen, by 2030. India is confident that it will continue to build a strong domestic market, despite the fact that Europe has delayed its decision on renewable energy targets.
Ukraine Increases US LNG Imports via Poland for Winter
Ukrainian state oil and gas firm Naftogaz said on Friday it was increasing imports of U.S. liquefied natural gas through Polish firm Orlen and U.S. partners to ensure supplies for the winter amid continuing Russian strikes on the energy system.In a statement, CEO Serhiy Koretskyi said the imports would total at least 300 million cubic metres."We will sign the contract with credit leverage (post-payment) and insurance instruments shortly," Koretskyi said.The agreement, signed during a transatlantic energy conference in Athens…