Russia is sending its highest quality crude oil to China in its battle for market share on the prized Asian market. As a result, European petroleum refiners are being left with lower-quality imports from Russia and are now reviewing how much Russian crude they would buy and at what price. The quality of Russia’s Urals crude grade has deteriorated so much that some European refiners are considering renegotiating supplies and prices.

Gazprom announced two thirds of the Power of Siberia pipeline to transport Siberian natural gas to Russian Far East and China is now complete. 1,480 kilometers of pipe is now in place from the Chayandinskoye gas field to the Chinese border. The pipeline is expected to start delivering Russian gas to China in December, 2019. The US$400 billion 30 year contract between the two countries guarantees China 38 billion cubic meters of natural gas annually. By 2-35 Russia expects to supply 13% of China’s gas consumption.

In Tajikistan in Central Asia, construction work has resumed on a natural gas pipeline running from Turkmenistan to China. Funding for the building work is being provided by China. This pipeline has a designed capacity of 25-30 billion cubic meters of gas per year and will become the fourth and last planned strand of a network of routes carrying the fuel from Turkmenistan to China. Once completed, the pipeline would put China in a position to import up to around 65 billion cubic meters of Turkmen gas annually.

The Guyana−Suriname basin off the Atlantic coast of South America is estimated to hold around 12 billion barrels of crude oil.

The African country of Kenya will start offering land at lower cost to attract investors to set up renewable energy projects as it moves to introduce competitive auctions in the sector with the aim of cutting electricity prices. This inducement is designed to cushion investors from losses since the proposed auctions will only favour contractors offering low electricity prices. Energy Principal Secretary Joseph Njoroge said:

“This will reduce the risks for investors as we pursue lower consumer power prices,” and added that the State would also help fund construction of site substations for tendered projects.

Currently, more than 60 countries have embraced competitive auctions for wind and solar projects, including Europe, Canada, India, South Africa, Morocco, Brazil, Zambia and the United Arab Emirates (UAE).

Last year, for the first time, the European Union generated more electricity from renewable sources (wind, solar and biomass) than from coal.

Dubai Electricity & Water Authority announced it will spend US$22 billion on energy projects over the next five years, focusing on natural gas turbines, solar power and energy storage facilities. Chief Executive Officer Saeed Mohammed Al Tayer said:

“Our strategy is 75 percent renewable energy by 2050. By 2020 we will achieve more than our target. Our target is 7 percent but I think we will achieve 8 to 9 percent.”

A new study from Bloomberg New Energy Finance predicts that the sale of electric buses globally will go up to 1.2 million by 2025.  This will represent about half of the world’s bus fleet. Virtually all of these buses will be sold in China. Last year 386,000 of these buses were sold. The BNEF study found that all-electric buses can offer lower total cost of ownership through their vehicle lifecycles. The cost of fuel and maintenance expenses can be much lower. Electric buses are much easier to maintain and require less parts replacement than diesel- or natural gas-powered buses.

 

German automaker Porsche plans to invest more than €6 billion (US$7.5 billion) in electromobility by 2022, focusing on both plug-in hybrids and purely electric vehicles. The company says its purely electric Mission E sports car will offer a range of 500 kilometers (311 miles) and fast charging will take only 15 minutes for 400 kilometers of range.

 

 

 

with h/t Tom Whipple

 

 

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