FormulaE-2
  

Hormuz, Malacca, Panama, Suez: Vital To Global Energy Security

02/08/17 •lweb.es/f2911 •bit.ly/2vMoNQz

The inability of oil tankers to transit a major chokepoint, even temporarily, can lead to substantial supply delays and higher shipping costs, resulting in higher world energy prices. While most chokepoints can be circumvented by using other routes – adding significantly to transit time, no practical alternatives are available in some cases. Some chokepoints, furthermore, have restrictions on vessel size. By volume of oil transit, the Strait of Hormuz and the Strait of Malacca are the world’s most important strategic chokepoints, with the Cape of Good Hope route being a potential alternative for certain chokepoints.

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Australia: Large-Scale Solar Market Set To Boom

01/08/17 •lweb.es/f2912 •bit.ly/2wr0hl9

Solar photovoltaic accounts for 11 per cent of Australia’s national electricity generation capacity and 3.3 per cent of total demand. The country is on track to have 12GW of solar PV installed by 2020, boosted by an expected 2.3GW of new utility-scale capacity that is expected to be added over the next three years, off the back of increasing cost competitiveness and government initiatives. Total installed PV capacity grew to 5.8 GW at the end of 2016, and passed the 6GW threshold by Q1 2017. Residential rooftop solar installations are on 20 per cent of households.

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Saudi Arabia’s Vision 2030: Massive Renewable Energy Programme

01/08/17 •lweb.es/f2914 •bit.ly/2fqgZge

“We are pursuing one of the most ambitious renewable energy development programs globally, installing 9.5 GW of wind, solar and other technologies over the next six years… We are seeking for the Kingdom, in the medium term, to become a nation that develops, manufactures and exports the advanced technologies of renewable energy production,” stated Saudi Minister of Energy, Industry and Mineral Resources Khalid al-Falih. Saudi Arabia’s National Renewable Energy Program aims to generate 9.5 gigawatts of electricity from renewable energy annually by 2023 involving 60 projects, and 3.45 GW by 2020 as part of Vision 2030.

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Canadian Heavy Oil Fits Well With Structural Change In The Market

31/07/17 •lweb.es/f2913 •bit.ly/2fqVs7l

Output has fallen in both OPEC and non-OPEC Latin American countries leading refiners even in China to look to Alberta’s oil sands to fill the gap. This interest has boosted the price for heavy Western Canada Select, Canadian heavy oil being an easy substitute for Middle Eastern and Latin American grades. The discount for Canadian oil delivered to the U.S. storage hub in Cushing is around $5 a barrel below U.S. crude. Canadian barrels could supply refineries in Sweeney, Texas, and St. Charles, Louisiana, where Venezuela accounts for the majority of imports.

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Argentina’s Vaca Muerta: $1.15-billion In Shale Gas Investments

18/07/17 •lweb.es/f2886 •bit.ly/2ucUgJx

Argentina’s state-run oil firm YPF, France’s Total, Wintershall Energía and BP unit Pan American Energy has announced a $1.15-billion joint investment to increase shale gas production in Vaca Muerta, one of the world’s largest shale formations. The partners had already invested $500 million in the areas between 2014 and 2016. In March, Argentina’s Tecpetrol said it would invest $2.3 billion in the Vaca Muerta shale fields through 2019, marking the biggest announcement related to the formation in years. Vaca Muerta contains 308 trillion cubic feet of shale gas and 16.2 billion barrels of shale oil.

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Northern Alberta’s Oil Sands Are One More Complication For OPEC

15/07/17 •lweb.es/f2885 •bit.ly/2gM8TPA

Oil sands will be second to shale as the biggest contributor to global supply growth over the next two years with half a million barrels a day of production scheduled to enter the market. The drive for efficiency, along with lower gas prices, has driven the average break-even operating cost on thermal oil sands to less than $10 a barrel from about $15 in 2014, and expanding or building a site requires a price of $50 to $60. Western Canada’s oil sands production will rise by 720,000 barrels a day to 3.12 million in 2020.

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India Interested In DevelopingIndia Interested In Developing Strategic Chabahar Port In Iran Strategic Chabahar Port In Iran

14/07/17 •lweb.es/f2882 •bit.ly/2uEJFYC

India is keen to rapidly develop Iran’s Chabahar Port, a strategic facility that New Delhi hopes will open up opportunities to Indian companies wanting access to Iran, Central Asia, Russia and other regions beyond. Chabahar sits on the Gulf of Oman near the Iranian border with Pakistan and promises India the possibility of direct sea access from its western coast. India, which imports 80% of its crude oil needs, has a long-standing relationship with Iran, especially in the energy sector. India is the second-biggest buyer of oil from Iran, after China.

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Mexico Oil Privatization: Billion-Barrel Zama Discovery

14/07/17 •lweb.es/f2879 •bit.ly/2vllGLI

Mexico’s decision to allow private companies to explore for oil and gas in an effort to reverse the decline in the country’s oil production has started to pay off. The Zama discovery announced by Premier Oil, Sierra Oil & Gas and Talos Energy “is the most important achievement so far of Mexico’s energy reform” and “is one of the 15 largest shallow-water fields discovered globally in the past 20 years.” Estimates of oil in place are 1 billion to 1.5 billion barrels. The government will receive a 68.99 percent profit share from every barrel produced.

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India: $300 Billion Wanted In Oil Investments Over Next 10 Years

13/07/17 •lweb.es/f2884 •bit.ly/2udblTN

“India is the place where there is incremental demand,” Oil Minister Dharmendra Pradhan has said. “Our per capita energy consumption is one-fourth of the world. In India, there is an emerging middle class and they are aspirational. Per capita energy consumption is going to increase. So, we need energy. There is no shortcut around that.” The country needs investments to boost the production of natural gas and crude oil, and to refine, transport and distribute the fuel to households. India’s state-run companies are scouring the world for access to reserves and technology.

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OPEC Needs Higher Break-Even Oil Prices Than Commonly Estimated

13/07/17 •lweb.es/f2878 •bit.ly/2uKAIh8

On simple accounting terms Saudi Arabia, Iraq and Iran can generate profits with oil prices at $20 to $40 per barrel. U.S. shale by contrast requires about $50 to $55 per barrel. If one looks at the fiscal break-even price, OPEC producers require an estimated $70 per barrel this year, higher than the $40 to $60 required by listed energy companies to fund capital expenditure and dividends. With respect to external break-evens, i.e. the oil prices needed to foot import bills, the spectrum is wide: Libya needs $140 a barrel and Norway needing just $20.

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Shanghai Hub: China Moving To The Forefront Of Nuclear Technology

12/07/17 •lweb.es/f2881 •bit.ly/2uL1hmx

China aims to build a world-class nuclear energy innovation hub in Shanghai, planning to become a global nuclear forerunner and establishing itself as a nuclear tech leader, high-end facility manufacturer and exporter. The plan aims to make major breakthroughs conducive to a full industrial upgrading. This will include R&D, manufacturing of fourth-generation reactors and new types of pressurized water reactors; small reactors, marine nuclear power platforms, special nuclear materials; and the construction of high-quality test benches and manufacturing chains. Shanghai has evolved into a major cluster of Chinese nuclear tech companies.

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