State media reports that Indonesia is considering a mandate for bioethanol blended fuel
The energy minister told the state-run news agency Antara on Tuesday that Indonesia was considering a 10% bioethanol level in gasoline to reduce carbon emissions and the country's dependency on fuel imports. Indonesia is looking to increase the use of palm oil and sugarcane biofuels as the President Prabowo subianto strives to make Indonesia the fourth most populous country in the world to be more energy independent. Due to ethanol supply shortages, the implementation of a mandatory mix of bioethanol in gasoline has been delayed. Yesterday evening, we had a meeting.
China builds oil reserves in response to a stockpiling campaign
China has been building oil reserves at an accelerated pace as part of its campaign to increase crude stocks. This urgency increased after Russia's invasion of Ukraine disrupted global energy flows. It also accelerated in this year according to traders, industry experts and public data. According to sources such as domestic news, government reports, and company websites, state oil companies like Sinopec and CNOOC are planning on adding at least 169,000,000 barrels in storage over 11 sites between 2025 and 2026. Sources indicate that 37 million barrels have been built.
PetroChina says it has added 1.15 billion barrels to its shale oil reserves at a pilot project.
PetroChina proved another 158 millions metric tons of shale-oil reserves, or approximately 1.15 billion barrels in a northeast China pilot project, Chinese state media reported Friday. State television reported that the Daqing project in Heilongjiang Province, northeast China, covers an area of 2,778 sq km and pumps 3,500 tons or 25,550 barrels per day. The project began testing production in 2022 and is one of several pilot shale-oil projects being undertaken by national oil companies to increase drilling for hydrocarbons that are harder to develop in order stop the decline in domestic oil production.
Kuwait and China to sign top wastewater facility in mid-October
Kuwaiti state media reported that the North Kabd plant will be the largest wastewater treatment facility in Kuwait by capacity. The facility will use advanced technologies to process up 1 million cubic meters of wastewater per day. Kuwait, a country rich in oil, struggles to reuse treated water. Kuwait, an oil-rich country, struggles to reuse treated wastewater. This project is one of several mega-developments Kuwait pursues with Chinese assistance, including the Mubarak Al-Kabeer Port and power and water plants. Other projects include renewable energy, waste recycling, and new residential communities.
China uses solar panels to fight desert sands
In the arid north of China, workers trim goji berry plants that are spread out under the protection of thousands of solar panel. The solar panel facility of 1 gigawatt in Ningxia, a region in northwest China, is part of an extensive network that uses the shade and bulk of the panels to reverse desertification. Vice-chairperson Liu Yuanguan of Ningxia Baofeng said that the company, which is a major player in the coal chemicals industry, intends to build 30GW of solar power, of which some will be used to prevent desertification. He added that a similar 1 GW solar project is already in place in Majiatan, which is nearby.
China renewable auction signals challenges for solar developers
Analysts said that the solar power prices at China's first province-level auction under its new renewable price mechanism are so low, they may discourage investors from launching new projects. The auction held in Shandong last week, which is seen as an indicator for future auctions nationwide, indicates that prices will be lower in the future than they were under the old system, although perhaps not as low as those in Shandong where solar investment drove prices down. The auction was part a reform announced…
China renewable auction signals challenges for solar developers
Analysts said that the solar power prices at China's first province-level auction under its new renewable price mechanism are so low, they may discourage investors from launching new projects. The auction held in Shandong last week, which is seen as an indicator for future auctions nationwide, indicates that prices will be lower in the future than they were under the old system, although perhaps not as low as those in Shandong where solar investment drove prices down. The auction was part a reform announced…
State media report that Malaysia's deputy PM claims Petronas was threatened to "burn" LNG facilities
According to state media, the Malaysian authorities issued a security warning for liquefied gas facilities after an employee of state energy company Petronas was threatened by telephone to burn them down. Petronas or Petroliam Nasional Berhad confirmed that it is working with the authorities following a directive from the National Security Council to tighten security at LNG facilities in Sarawak on Monday. Petronas’ flagship LNG plant, the Bintulu Complex, has a production capacity of 29,3 million metric tonnes per year.
The markets bet Beijing will take action against China's overcapacity
This month, commodity prices have risen from steel to polysilicon as Chinese investors bet that Beijing will finally address overcapacity in the second largest economy of the world. The prices of nine industrial commodities, including coal, steel and polysilicon (a building block used in solar panels), alumina, and lithium carbonate, have risen by 10 to 68% over the past month, while the share prices for steelmakers, solar panel makers, and clean energy companies outpaced those for CSI 300 Index. Beijing announced the moves on July 1…
China's thermal energy generation fell 2.3% on an annual basis in April
Official data released on Monday showed that thermal power generation in China fueled primarily by coal fell by 2.3% in April. It also dropped 4.1% between January and April. This is in line with the expectation that China's fossil fuelled power production could drop in 2025, for the first dip in 10 years. The National Bureau of Statistics reported that China generated 449.1 billion Kilowatt-hours last month, and 1.98 trillion in total for the year. Natural gas is also used in a few power plants, which contributes a small amount to the thermal energy generation.
State media report that US and Vietnamese firms have signed a deal on energy and minerals.
State media and one of these firms reported on Friday that Vietnamese and American firms had signed a number of deals on minerals and energy during the visit to the United States of Vietnam's Trade Minister. State-owned PetroVietnam Power said that Vietnamese firms are in discussions with U.S. companies to buy American crude and LNG. The company is a party to one of these deals, and executives from the firm will accompany the minister to the United States. Vietnamese Trade Minister Nguyenhong Dien is currently in the United States for trade talks.
China estimates greenhouse gas emissions will reach 13 billion tonnes in 2021
China's latest official submission to United Nations was published on Friday by the state media. It said that China had emitted climate-warming, greenhouse gases of 13 billion metric tonnes in 2021. This is an increase of 4.3% compared to a year ago. This is the most recent official calculation of China's annual greenhouse gas emissions. China is by far the largest carbon polluter in the world. The latest official estimate measured total emissions of 11.55 billion tones in 2017. China, as a signatory of the Paris Agreement is now required to submit detailed emission numbers every two-years…
Oil Rises as Syria's Assad Departs, China eases Monetary Policy
Oil prices rose by nearly 2% on Monday on increased geopolitical risk after the fall of Syrian President Bashar al-Assad, and as top importer China flagged its first move towards a loosened monetary policy stance since 2010.Brent crude futures were up $1.34, or 1.9%, to $72.46 per barrel at 11:25 a.m. ET (1625 GMT). U.S. West Texas Intermediate (WTI) crude futures CLc1 were up $1.5, or 2.23%, to $68.70."Events in Syria over the weekend could impact the crude market and increase the geopolitical risk premium on oil prices in the weeks and months to come amid yet more instability in the Middle East region…
Chinse CNPC aims to produce 12.4 mln bbls at shale project, according to state media
China's state-owned energy group CNPC aims at producing 1.7 million metric tonnes of shale crude oil or 12.4 millions barrels in the next year as part of a pilot project, according to a report by Xinhua, the state news agency. The Jimsar Shale Gas Project, located in Junggar Basin, is one of three pilot shale oil projects that state oil companies are trying develop. Other two projects are Gulong, in northeast China, and Jiyang, in east China. According to Xinhua, CNPC produced 1.011 millions tons of oil at Jimsar this year, which is 7.4 million barrels. China's shale-gas resources are believed to be massive.
Sources say that PetroVietnam Gas is looking for LNG supplies to be delivered in December and January.
PetroVietnam Gas has requested a partial shipment of LNG for delivery in December or early January. The tender, which closes Tuesday, is for 2,500,000 million British Thermal Units (mmBtu), of LNG to deliver to the Thi-Vai terminal between December 20 and January 5. One source said that PetroVietnam Gas was seeking partial cargoes to commission Nhon Trach 3, 4 and 5 power plants. In September, the Vietnamese state media reported that Nhon Trach 3 will be the first LNG-only power plant in Vietnam. Test runs will begin in October, which is five months after the original target date.
Benchmark European Gas at its highest level in 10 Months due to geopolitical risk
The Benchmark front month contract at the Dutch TTF Gas Hub hit its highest intraday levels in more than ten months Thursday as the Middle East Conflict and reports that North Korean troops were ready to assist Russia in Ukraine kept the traders on edge before the U.S. Presidential election. According to LSEG, the contract for November deliveries reached 42.57 euros per Megawatt Hour (EUR/MWh), its highest intraday value since December 1, at 0945 GMT. Gas prices are still lower than their all-time peak in August 2022, which was 306.00 EUR/Mwh.
Qatar writes off loans to boost the private sector
State media reported late Wednesday that Qatar plans initiatives to boost the private sector in the Gulf state. This includes writing off some of the loans made to Qatari businesses during the COVID-19 Pandemic. Qatar News Agency reported that the Cabinet had called for a package to be prepared and implemented in order to increase the participation of the private sector in the economy. This was based on the directives of Emir Sheikh Tamim Bin Hamad Al Thani. These initiatives aim to support private companies that are struggling to recover after the pandemic…
Spanish PM calls on EU to reconsider tariffs against Chinese EVs
The Spanish Prime Minister Pedro Sanchez stated on Wednesday that the European Union should reconsider its proposed import tariffs for Chinese-made electric cars, and urged Brussels to avoid a trade conflict. Sanchez's remarks during a trip to China indicate a shift in Spain's stance, which had previously supported the tariffs. He also expressed concern over the potential impact of the EU-China Trade Spat on Spanish industry. "I must be honest, we all have to rethink our position. Sanchez, speaking at an event held in an industrial park of the Chinese city Kunshan…
Vietnam will select an investor for the $2.5 billion Nghi Son LNG Power Plant by October
A provincial official in Vietnam's Thanh Hoa Province said that authorities plan to select a developer for a $2.5billion LNG-fired energy plant by October through a competitive bidding process. The Nghi Son LNG Power Plant, located in the Nghi Son Economic zone of the province, would have a capacity of 1.5 gigawatts. It would begin commercial operations in 2030. Nguyen Tuan, the deputy director for the zone, said that the bids would be opened on 30 September and the investor's name would be announced in mid-October or at the end of October.
Oil Posts Biggest One-day Gain After Trump Touts Saudi-Russia Deal
Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by as much as 10 million to 15 million barrels, as the two countries signaled willingness to make a deal.Trump did not specify barrels per day (bpd), though the market expresses demand and supply in those terms.