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Daily Energy News

Companies

Norwegian oil and gas company Equinor has announced the start of oil production from the Trestakk subsea field on Haltenbanken in the Norwegian Sea, which is estimated to hold recoverable resources of 76 mbl of oil and was developed at a cost of NOK 5bn (€520m). It will produce around 22,000 bbl/d (up to 44,000 bbl/d at peak production) over a 12-year period. The field is tied back to the Åsgard A floating production vessel, which will be operated until 2031 (extension from the 2019 original life time).

The Ministry of Petroleum of Ivory Coast has signed four new production sharing agreements (PSA) with Eni and Total for the exploration of four oil blocks, in which the companies will invest around US$185m.

Greek state-owned power utility Public Power Corporation (PPC) has received no binding bid for the sale of three coal-fired power plants that it is selling under a post-bailout agreement with its international lenders.

Policy & Regulatory

The Indian government plans to introduce rules to phase out the gas supply monopolies of gas distribution companies in 34 cities, including Mumbai and New Delhi, within 6 months. The government will work on the rules within three months and they will be implemented in another three months.

The Ministry of Energy of Israel has received bids from two consortia in a tender for offshore oil and gas exploration, namely a consortium of Cairn Energy, SOCO International and Ratio Oil, and a consortium of Energean and Israel Opportunity. The two bidders offered to explore 12 of the 19 available blocks within 5 zones. The date for the final decision has not been specified but if licenses are granted, bidders will have three years to explore the 400 km² blocks (with an option for a four-year extension).

The Tunisian Ministry of Industry and Small and Medium Entreprises has opened a third round of bidding for 70 MW of solar PV projects, offering 60 MW of large projects (i.e. with a maximum capacity of 10 MWp for each project) and 10 MW for PV projects with a capacity not exceeding 1 MWp. Interested companies will have to submit bids until 26 November 2019. The winners will sell the power generation of the projects to the national power company Société Tunisienne de l’Electricité et du Gaz (STEG) under power purchase agreements (PPAs).

Infrastructure & Investments

Public Service Co. of Oklahoma (PSO) and Southwestern Electric Power Co. (SWEPCO), two companies part of the US power group American Electric Power (AEP), have unveiled plans to buy three wind projects totalling 1,485 MW developed by Invenergy in Oklahoma (United States).

The European Investment Bank (EIB) and the Instituto de Crédito Oficial (ICO) have approved loans of €145m and €140m, respectively, to finance the development of the 500 MW Núñez de Balboa photovoltaic solar PV project, which Iberdrola is currently building in the Badajóz province municipalities of Usagre, Hinojosa del Valle and Bienvenida of Extremadura (Spain). The €290m project is expected to be commissioned in September 2020 and to generate around 830 GWh/year, avoiding the emission of 215,000 tCO2/year into the atmosphere.

The Ministry of Water, Irrigation and Energy of Ethiopia expects the 254 MW Genale Dawa hydropower project to be connected to the national power grid and to start generating power in August 2019. The project is currently being built by China Gezhouba Group in southeastern Ethiopia and it should generate over 1.6 TWh/year.

Energy & Climate Markets

According to the latest carbon inventory submitted by the Chinese Ministry of Environment to the United Nations, greenhouse gas (GHG) emissions in China rose by more than 53% between 2005 and 2014, reaching 12.3 GtCO2eq in 2014. These GHG emissions estimates cover CO2 and CH4 (methane) emissions, but don't take land use, land use change and forestry (LULUCF) into account: according to the Ministry of Environment, total GHG emissions including LULUCF would have risen by 17% between 2010 and 2014 to 11.2 GtCO2eq.