Contenu connexe Similaire à New base energy news issue 867 dated 07 june 2016 (20) Plus de Khaled Al Awadi (20) New base energy news issue 867 dated 07 june 20161. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
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NewBase Energy News 07 June 2016 - Issue No. 867 Edited & Produced by: Khaled Al Awadi
NewBase For discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
Saudi :A Quick Guide to the National Transformation Program
Bloomberg - Ahmed Feteha AhmedmFeteha
Saudi Arabia approved the so-called National Transformation Program, a key part of a blueprint
to prepare the kingdom for the post-oil era. The plan outlines a number of initiatives to be
undertaken by different ministries. Here is what we know so far:
Public Finances
* Non-oil revenue is seen rising to 530 billion riyals ($141 billion) by 2020 from 163.5 billion riyals.
Public-sector wages and salaries would fall to 456 billion riyals from 480 billion, and make up 40
percent of total spending versus 45 percent.
* Public debt will increase to 30 percent of economic output from 7.7 percent, while the
kingdom’s credit rating is seen rising two levels to Aa2 from A1.
*Taxes would be imposed on "harmful products"
*The plan sets aside costs for the “preparation and implementation” of income tax on residents
as well as “the unified income tax.” Mohammed Al-Sheikh, a cabinet minister, said there were no
current plans to tax foreigners and referred further questions to the Finance Ministry. He also
reiterated the government won’t impose taxes on Saudi nationals.
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*The private sector would fund about 40 percent of the initiatives included in the plan
• Investments, Jobs, Privatization & Exports
• *The initiatives included in the plan will create 450,000 jobs by 2020.
• *Non-oil exports would climb to 330 billion riyals from 185 billion riyals by 2020. Foreign
direct investment would rise to 70 billion riyals from 30 billion riyals.
• *The plan budgets 300 million riyals over 5 years to create a “center of excellence” to
support the privatization of state-owned companies. The minister of environment, water
and agriculture said the government plans to privatize the Saline Water Conversion Corp.
• *The initiative for reforming and "restructuring of primary health care" is estimated to cost
4.7 billion riyals.
Energy, Mining
• Oil output capacity is expected to stay at 12.5
million barrels per day by 2020 with refining
capacity seen at 3.3 million barrels per day from
2.9 million.
• Output capacity of dry gas would reach 17.8
billion cubic feet per day versus 12 billion
currently. The country will produce 4 percent of its
power from renewable energy by 2020.
• *The Mining sector is to contribute 97 billion
riyals to economic output from 64 billion
riyals.
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Qatar:India Wants to Develop Hydrocarbon Resources in Qatar
Natural Gas Asia
India has expressed interest in developing hydrocarbon resources in Qatar. The topic of joint
exploration of new oil and gas fields in Qatar was discussed during Indian Prime Minister
Narendra Modi’s visit to Doha on Sunday. Modi met with Emir of Qatar Sheikh Tamim bin Hamad
Al-Thani.
“The Indian side highlighted
the interest of its energy
companies to pursue
opportunities of mutual
interest in Qatar, with
Qatar Petroleum and
other companies, in order
to jointly explore new
fields as well development
of discovered oil and gas
assets and exploit the
existing resources of
natural gas and crude oil
in Qatar,” a joint
statement by India and
Qatar stated. Qatar is the biggest supplier of LNG to India. Petronet LNG has a long term deal
with RasGas to import 7.5 mt per year.
New Delhi also invited Qatar to invest in India’s exploration & production sector by bidding for the
exploration blocks in India under the new Hydrocarbon Exploration and Licensing Policy (HELP)
and Discovered Small Fields Policy.
Late last month, India’s oil ministry invited bids for small oil and gas fields under the Discovered
Small Field Policy. The ministry officially launched the bidding process on May 25, 2016 in New
Delhi.
Under the Discovered Small Field Policy, the government is offering 67 discovered small oil and
gas fields clubbed into 46 contract areas spread over nine sedimentary basins in onland, shallow
water and deep water areas for bidding which have known hydrocarbon discoveries.
These fields have been discovered by India’s national oil companies and are now being offered
under exclusive policy which is based on easy to administer revenue sharing contract model. The
contract areas contain more than 85MMT of in-place volume of reserves, the ministry said.
The government believes the new policy regime will mark a generational shift and modernization
of the oil and gas exploration policy. It is expected to stimulate new exploration activity for oil, gas
and other hydrocarbons and eventually reduce import dependence.
India is among the largest consumers of energy and has been overwhelmingly reliant on imports
to meet local demand as domestic output has been sliding in recent years. Domestic gas
production witnessed a decline of 17 percent in two years from 40.66 bcm in 2012-13, it fell to
33.65 bcm in 2014-15.
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Egypt: Aker Solutions wins order for umbilicals at Egypt's Zohr
offshore gas field …. Source: Aker Solutions
Aker Solutions won a contract to deliver its longest-ever umbilicals system at the Zohr offshore
gas field in the Egyptian part of the Mediterranean Sea.
The agreement with Petrobel in Egypt is worth more than NOK 1 billion and will be booked in the
second quarter. It stipulates the delivery of 180 kms of steel tube umbilicals that will connect the
Zohr subsea development to an offshore control platform. Petrobel, a joint venture between The
Egyptian General Petroleum Corporation (EGPC) and Eni, is responsible for the development
and operations at Zohr.
'Aker Solutions is building on its previous
experience offshore Egypt to now deliver
its largest-ever umbilicals project,' said
Luis Araujo, chief executive officer of Aker
Solutions. 'We are very pleased to
support Petrobel and Egypt on this
important development.'
The work will be led by Aker Solutions'
subsea division in Oslo and
manufacturing will start immediately at the
umbilicals plant in Moss, Norway.
The company has invested substantially
in the Moss facility over the past years.
The plant has more than 20 years of
experience in making the most advanced
and complex umbilical systems, which are
used to transport data, power and liquids
between oil and gas installations on the
seafloor and facilities onshore or on
platforms. The umbilical system will be
delivered by mid-April 2017.
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Ghana expects steady oil output as Tullow's Jubilee field recovers
Source: Reuters
Ghana's oil output is expected to average 110,000 barrels per day in 2016, similar to last year, as
output is ramped up at Tullow Oil's Jubilee field, a senior government official said on Monday.
Production at Jubilee was interrupted earlier this year due to technical problems but output
resumed last month, said Thomas Mba Akabzaa, chief director at the ministry of petroleum.
Africa-focussed Tullow Oil restarted output at 30,000 bpd in May.
'The estimated average production for the year is 110,000 barrels per day for 2016, including
from production loss,' Akabzaa told Reuters on the sidelines of an oil and gas conference.
He said first production at the new Tullow operated TEN offshore field was expected on 17
August and that four unnamed firms searching for oil in the Tano Basin had lost their exploration
licenses after failing to meet the necessary requirements.
'In Ghana, at the end of 2015, (several) new petroleum agreements were signed. However, as I
speak about 80 percent are yet to meet 20 percent of their work program requirements for 2015
largely as a result of the difficulty in raising the required funding,' he told delegates.
Sharply lower global oil prices, which fell below $40 dollars in January from almost $100 in 2014,
has seen oil companies scale back projects and reduce head count.
In Ghana, government negotiations with Tullow helped save 100 jobs in the petroleum industry,
after the firm initially flagged 130 jobs were on the line, said Akabzaa.
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Denmark:World’s Cheapest Offshore Wind Farm Seen Online Early
Bloomberg - Jessica Shankleman Jess_Shankleman
Vattenfall AB accelerated work on a Danish offshore wind farm, saying it will deliver record-low
power prices for the technology when the project is finished in 2018, two years ahead of its
previous plan.
The state-owned Swedish utility reached a final investment decision on the Horns Rev III wind
park that will cost “just over” 1 billion euros ($1.12 billion), according to a statement Thursday. At
that cost, the wind farm would produce for about 2.5 million euros a megawatt -- the cheapest to
date for offshore wind, according to Bloomberg New Energy Finance.
MHI Vestas Offshore Wind will supply 50 of its giant 8-megawatt turbines to the project, the
Aarhus, Denmark-based company said in a separate statement. The rotors of the V164-8.0MW
turbines -- the world’s biggest offshore machines -- cut a 164 meter (328 feet) swath, with a
single blade measuring 80 meters, about the wingspan of an Airbus A380 jumbo jet.
400MW Horns Rev 3 wind farm in the North Sea
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Vattenfall won the contract from the government in February 2015 to deliver power with a feed in
tariff of 0.77 Danish krone ($0.12) a kilowatt hour, according to the Danish Energy Agency. The
project could become the first to beat the industry’s 100-euro a megawatt hour target when it’s
commissioned in late 2018. The company, whose headquarters is in Solna, Sweden, earlier
forecast completion by 2020.
The low cost is “a direct result of a move to highly competitive auctions but also the fact that
Vattenfall do not have to pay for the offshore transmission”, said Tom Harries, an analyst for
Bloomberg New Energy Finance. Energinet.dk, the Danish transmission systems operator, will
build and fully fund all the project’s grid assets.
“Horns Rev III is a real milestone for us, it clearly shows that competition is a suitable way to
reduce costs for offshore wind significantly,” said Magnus Hall, president and chief executive
officer of Vattenfall in the statement.
Horns Rev III will also be cheaper than other projects because it’s located near shore, in sandy
conditions that aren’t too deep, said Christina
Sorensen, a senior partner at Copenhagen
Infrastructure Partners, in an interview.
“The Horns Rev III project will set a new
milestone for affordable offshore wind power,
and we look forward to working with Vattenfall
on delivering that goal,” said MHI Vestas
Offshore CEO Jens Tommerup said in a
statement.
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EIA publishes construction cost information for electric power
generators ..Source: U.S. Energy Information Administration, Form EIA-860, Electric Generator Construction Costs
Many factors influence the economic competitiveness of electricity generation technologies;
however, two fundamental factors are the cost of constructing generators and the cost of
operating them.
The U.S. Energy Information Administration (EIA) recently began collecting construction costs for
new electric generators at utility-scale power plants. The publication released today covers
generators installed in 2013 and includes average costs by technology type or region. EIA
expects to publish 2014 construction cost information in August 2016 and 2015 information in
October 2016.
Industry reports and other EIA publications have included various estimates of electricity
generation technology capital costs, but this is the first time EIA has collected and reported
actual construction costs, which include capital and financing costs, for all new generators.
Government grants, tax benefits, or other incentives are excluded from these costs. Because the
data are business-sensitive and protected, the analysis presents averaged costs for select
groupings and excludes certain generation technologies to avoid disclosure of individual
company data. The reported costs reflect a snapshot of market prices for generation
technologies at the time the projects were developed and built.
Construction costs alone do not tell the full story of the relative economics of each electricity
generation technology. For fuel-consuming electricity generation technologies, fuel costs often
make up a substantial portion of the plant's total costs. For nonfuel-consuming technologies such
as wind and solar plants, the initial construction cost constitutes most of the plant's total costs.
In addition, federal, state, and local programs may provide incentives to lower the cost of certain
technologies. Finally, different types of plants often run at different utilization rates, which affects
the relative economics of generation technologies. As costs, market conditions, and government
policies have drastically changed over the years, so has the pattern of capacity additions.
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Natural gas. Most of the electricity generation capacity added in 2013 came from natural gas
technologies with average construction costs of $965 per kilowatt (kW) of installed nameplate
capacity. Most of the natural gas electricity generators installed in 2013 were combustion turbine
and combined-cycle plants.
Combustion turbine plants, which typically serve as peaker plants and run mainly during times of
peak demand, are less expensive to build than combined-cycle plants but more expensive to
operate because of their relatively low energy conversion efficiency (the inverse of which is
known as the heat rate).
Combined-cycle plants, which include at least one combustion turbine and one steam turbine,
are more efficient and less expensive to run than combustion turbines. For that reason,
combined-cycle plants usually have much higher utilization rates than combustion turbines
and typically serve as intermediate or baseload plants.
Combustion turbine and internal combustion engine plants can often be built quickly (within a
year) and can help meet near-term localized supply or reliability needs.
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Solar. Solar additions in 2013 had average construction costs of $3,705/kW. Solar photovoltaic
(PV) projects using an axis-based tracking system were more expensive per kilowatt than fixed-
tilt projects but are generally used for larger projects. Tracking systems can increase system
output, which may justify the somewhat higher costs.
The average costs for projects using thin-film panels versus crystalline silicon panels were
similar, but the new thin-film plants have a much larger capacity on average (74 MW) than the
new crystalline silicon plants (7 MW), which likely influenced the per-kilowatt costs, along with
other factors.
The solar PV data are based on reported alternating current (AC) capacity and may differ from
other cost and capacity estimates that use direct current (DC) ratings of PV panels. The data,
which are for utility-scale plants only (nameplate capacity of 1 MW or more), do not include
distributed solar installations, such as those found on residential and commercial rooftops.
Wind. The average construction cost of wind generators was $1,895/kW, the lowest of all
renewable technologies. Despite this cost advantage, the reported new wind capacity in 2013
was less than 900 MW, a significant
drop from additions of 13,084 MW in
2012, primarily because of the
expiration of the federal production tax
credit at the end of 2012.
The tax credit was renewed in early
2013, but given the lead times for a
wind project and a change in the tax
credit's eligibility requirements, very few
wind plants were completed in 2013.
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NewBase 07 June 2016 Khaled Al Awadi
NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE
Oil prices stable around 7-month high, but momentum seen strong
Reuters + NewBase
Brent oil prices inched lower on Tuesday after hitting a seven-month high a day earlier, but the
market momentum looked strong on a weak dollar, attacks on Nigerian oil infrastructure and
falling U.S. crude inventories, analysts said.
London Brent crude for August delivery was down 13 cents at $50.42 a barrel by 0148 GMT,
after settling up 91 cents on Monday. Brent touched a high of $50.83 in the previous session, its
highest since Nov. 4.
NYMEX crude for July delivery was down 7 cents at $49.62 a barrel, after settling up $1.07 on
Monday
"With Brent staying above $50, oil is on an upward momentum with the restart of French
refineries that were shut on strikes and pipeline attacks in Nigeria," said Kaname Gokon at
brokerage Okato Shoji in Tokyo.
Preliminary work got underway on Monday to restart three of Total's French oil refineries stopped
as part of nationwide strikes against planned changes to employment laws. Workers were still on
strike at the country's two main oil ports.
Nigerian production of Bonny Light crude oil is down by an estimated 170,000 barrels per day
(bpd) following recent attacks on pipeline infrastructure, according to an industry source close to
the matter.
Oil price special
coverage
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The dollar wallowed close to four-week lows against a basket of currencies on Tuesday, after
remarks by Federal Reserve Chair Janet Yellen failed to toss a lifebuoy to the recently
foundering greenback.
U.S. commercial crude oil inventories likely fell for a third straight week in the week ended June
3, a preliminary Reuters poll showed on Monday ahead of the data by the Industry group the
American Petroleum Institute later in the day.
Market intelligence firm Genscape reported a drawdown of 1.08 million barrels at the Cushing,
Oklahoma delivery point for WTI futures during the week to June 3, traders who saw the data
said.
U.S. Treasury Secretary Jack Lew said in Beijing that concerns about China's business climate
have grown due to a more complex regulatory environment and the Chinese government should
open the door wider to foreign investments.
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NewBase Special Coverage
News Agencies News Release 01 June 2016
Climate accord 'irrelevant,' and CO2 cuts could impoverish the
world: Scientist … CNBC - Javier E. David | @TeflonGeek
The world's historic effort to reduce carbon emissions is likely to be a costly if not quixotic
endeavor, according to one expert, whose recently published research warns that decarbonizing
the globe could have devastating consequences on the world's way of life.
In a report published this week, the International Energy Agency issued a call for "concrete
action" to match the ambitions of last year's landmark climate change agreement, which was
recently ratified by nearly 200 countries. The energy watchdog said the transition to a low-carbon
future would require "massive changes in the energy system" to prevent the globe's temperature
from rising by more than 2 degrees Celsius.
Yet the agency also put a steep price tag on efforts to combat climate change. In order to
decarbonize the power sector within the next 40 years, the world would have to invest at least $9
trillion — and an additional $6.4 trillion to make other industries more environmentally friendly.
Read MoreJack Welsh blasts 'wacky' climate change agenda, saying it hurts the US economy
Those vast sums are why M.J. Kelly, a University of Cambridge engineering professor, recently
wrote that the push to restrict carbon"is set to fail comprehensively in meeting its avowed target,
and a new debate is needed." For that reason, Kelly is skeptical that initiatives like the 21st
Conference of the Parties (COP21) in Paris will achieve its lofty goals.
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In peer-reviewed research, Kelly argued carbon dioxide should be considered the byproduct of
the "immense benefits" of a technologically advanced society. Cutting carbon, he added, could
result in a dramatic reduction in the world's quality of life that would usher in mass starvation,
poverty and civil strife. Massive decarbonization is "only possible if we wish to see large parts of
the population die from starvation, destitution or violence in the absence of enough low-carbon
energy to sustain society."
COP21 "will be an irrelevance within a few years," Kelly said to CNBC via email, "as the the bills
pile up, and ... the promises are reneged upon."
Read MoreGlobal warming 'religion' costs too high: Ted Cruz
Removal of all excessive carbon from the atmosphere "is simply impossible over the next 20
years unless the trend of a growing number who succeed to improve their lot is stalled by rich
and middle-class people downgrading their own standard of living," Kelly said. He added that
"humanity is owed a serious investigation of how we have gone so far with the decarbonization
project without a serious challenge in terms of engineering reality."
Is CO2 really all that bad?
Unlike those frequently called climate skeptics, Kelly in fact accepts the findings of the
Intergovernmental Panel on Climate Change, or IPCC, in 2014 that human-generated CO2 has
been responsible for more than half the globe's warming since 1950. The scientist's primary
points are rooted in arguments that are equal parts economic and scientific.
"There needs to be a renewed debate on the impacts" of higher carbon levels, Kelly told CNBC.
"Everyone assumes that every change is for the worse, but we are starting to find upsides" in
carbon dioxide, he said. "The recent science is casting doubt on whether more CO2 is
necessarily a bad thing."
Kelly's findings give added ammunition to a camp of scientific skeptics who contend CO2 has a
beneficial impact on the environment. Last November, Indur Goklany, a U.S. Department of the
Interior official and a former delegate to the IPCC, said policymakers need to reassess their
aversion to carbon dioxide, which he said is a major factor in plant fertilization and boosting crop
yields, among other benefits.
High levels of CO2 concentration have actually helped improve biosphere productivity by 14
percent over the last three decades, Goklany's research found.
'Glib' effort
In its report, the IEA singled out cities as integral to curbing energy use and carbon emissions. If
current urban power trends continue, the agency said energy demand in cities would surge by 70
percent from current levels, undercutting carbon restriction policies. "Hence, efforts aimed at
fostering sustainable urban energy paths are crucial to meet national and global low-carbon
ambitions," it said.
However, Cambridge's Kelly linked middle-class economic growth to soaring energy demand —
the lion's share of which will continue to be met by fossil fuels. Recently, Exxon Mobil projected
that those fuels will still provide 80 percent of energy for at least the next two decades.
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What that effectively mean, Kelly argued, is that rapid decarbonization is a "glib" effort that would
result in "large parts of the population [dying] from starvation, destitution or violence in the
absence of enough low-carbon energy to sustain society."
The IEA supports technology like carbon capture and storage — which it contends can cut the
cost of fighting CO2 emissions by 70 percent — as well as alternative energy such as solar, wind
and nuclear.
"The two largest contributions to cumulative emissions reductions ... over the period 2013-50
would come from end-use fuel and electricity efficiency (38 percent) and renewables (32
percent)," the energy watchdog said this week. "Carbon capture and storage (CCS) would come
in third place with 12 percent, followed by nuclear with 7 percent."
Kelly, however, has his doubts. Renewable energy is not yet plentiful or potent enough to
completely supplant fossil fuels, while atomic energy is fraught with risks and hamstrung by
political resistance.
"Only [CCS] and nuclear have any scope to reduce CO2 emissions," the engineer told CNBC.
Javier E. David
C R E D I T : R E Z A / C O N T R I B U T O R
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NewBase energy news is produced daily (Sunday to Thursday) and
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For additional free subscription emails please contact Hawk Energy
Khaled Malallah Al Awadi,
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Khaled Al Awadi is a UAE National with a total of 25 years of experience in
the Oil & Gas sector. Currently working as Technical Affairs Specialist for
Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy
consultation for the GCC area via Hawk Energy Service as a UAE
operations base , Most of the experience were spent as the Gas Operations
Manager in Emarat , responsible for Emarat Gas Pipeline Network Facility &
gas compressor stations . Through the years, he has developed great
experiences in the designing & constructing of gas pipelines, gas metering & regulating stations
and in the engineering of supply routes. Many years were spent drafting, & compiling gas
transportation, operation & maintenance agreements along with many MOUs for the local
authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE
and Energy program broadcasted internationally, via GCC leading satellite Channels.
NewBase : For discussion or further details on the news above you may contact us on +971504822502 , Dubai , UAE
NewBase 07 June 2016 K. Al Awadi
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