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PV Tech: A consortium between Abu Dhabi-based Masdar, EDF Renewables and Nesma Holding Company has broken ground on a 300MW PV project in Saudi Arabia. The Jeddah solar plant, located 50km south-east of the city of Jeddah, will feature bifacial modules and single-axis trackers, while robots will be used to clean the modules. Saudi Arabia’s […]
IEEFA
Renewables Now: A consortium led by Saudi Arabia’s Acwa Power has sealed a 25-year power purchase agreement (PPA) to sell the output of a 1.5-GW solar complex in Sudair to the Saudi Power Procurement Company. The Sudair solar project is being developed by Acwa Power, in which the Public Investment Fund (PIF) owns a 50% […]
Clark Williams-Derry and Tom Sanzillo
For 2021, expect conflict and infighting to further muddy the industry’s prospects
It was a dismal year for oil and gas. As the pandemic sucked the wind from the sails of the global economy, oil demand slumped, stockpiles swelled, prices sagged, capital spending collapsed, debt ballooned, profits evaporated, and bankruptcies skyrocketed. After this torrent of bad news, the energy sector ended the year in last place in […]
Press Release, Suzanne Mattei and Tom Sanzillo
Commission’s 21-year-old pipeline policy puts contracts ahead of utility customers
December 17, 2020 (IEEFA) — The federal agency responsible for approving interstate gas pipeline projects is basing its decisions on contracts rather than on today’s consumer energy needs or the public interest, according to a report released today by the Institute for Energy Economics and Financial Analysis. The report—FERC’s Failure to Analyze Energy Market Forces—details […]
IEEFA
Renew Economy: The 50MW Bokpoort concentrated solar power (CSP) plant in South Africa has set a new African benchmark for renewable energy, becoming the first renewable project on the African continent to complete a full week of continuous, round the clock operation. The Saudi Arabian-based renewable energy developer ACWA Power says that the Bokpoort CSP […]
Tom Sanzillo and Suzanne Mattei
Industry problems hit before the pandemic, were made worse by it and will persist even after the economy improves
October 20, 2020 (IEEFA) — After years of benefitting from record oil and gas revenues, global markets are signaling the beginning of the end of New Mexico’s financial reliance on fossil fuels. Leases, royalty payments and taxes from the oil and gas industry have directly accounted for as much as 30 percent of the state’s […]
IEEFA
Wall Street Journal ($): Saudi Arabia is considering canceling OPEC plans for an oil output hike early next year, senior Saudi oil advisers said, as Covid-19 cases in many parts of the world rise and the expected return of Libyan crude threatens to swell global supplies. In April, the 13-member, Saudi-led Organization of the Petroleum […]
IEEFA
Arabian Business: Saudi-based ACWA Power on Thursday announced it has completed the signing of all financing agreements for the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai. Shuaa Energy 3 is the special purpose vehicle incorporated for the project, with 60 percent ownership by the Dubai Electricity and Water Authority […]
Press Release and Vibhuti Garg
5-10% annual decline in tariffs estimated for the next decade
29 August 2020 (IEEFA India): A number of countries in the Gulf region have set record-low prices for solar in recent years, leading to hopes that India and other countries may soon be able to achieve similarly cheap – or cheaper – solar tariffs. But a new report by the Institute for Energy Economics and […]
Kathy Hipple, Tom Sanzillo and Clark Williams-Derry
ExxonMobil, recently kicked out of the Dow Jones Industrial Average, posted the worst performance among supermajors in Q2
August 25, 2020 (IEEFA)— One day after ExxonMobil was kicked out of the Dow Jones Industrial Average, a new analysis shows that the company suffered through one of its worst quarters in years, characterized by sharply negative free cash flows and massive borrowing to sustain its shareholder dividends. Overall, the five global oil and gas […]
IEEFA U.S.: FERC gives blank check approval to pipeline builders, while investors and consumers pick up costs
Commission’s 21-year-old pipeline policy puts contracts ahead of utility customersDecember 17, 2020 (IEEFA) — The federal agency responsible for approving interstate gas pipeline projects is basing its decisions on contracts rather than on today’s consumer energy needs or the public interest, according to a report released today by the Institute for Energy Economics and Financial Analysis. The report—FERC’s Failure to Analyze Energy Market Forces—details […]