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IEEFA Research

IEEFA: Guyanese oil deal tax incentives raise income reporting concerns

IEEFA: Guyanese oil deal tax incentives raise income reporting concerns

Government pays annual income taxes for ExxonMobil, Hess and CNOOC

September 28, 2021 (IEEFA) — Guyana is giving tax breaks worth at least USD$1.7 billion over five years to three of the world’s largest oil companies, according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA). Tax concessions granted to ExxonMobil, Hess and the China National Offshore Oil Company (CNOOC) by […]

and September 28, 2021 Read More →
IEEFA: ExxonMobil contract leaves Guyana out of oil gains

IEEFA: ExxonMobil contract leaves Guyana out of oil gains

A loophole allows ExxonMobil consortium to reduce profits to Guyana for oil discoveries that may never be developed

July 29, 2021 (IEEFA) – In a deal with ExxonMobil, Hess and China National Offshore Oil Company, Guyana was promised robust revenues from its recently discovered oil reserves in exchange for covering all development costs for the projects. However, the deal is one-sided, benefitting ExxonMobil and its partners and leaving Guyana and its people out […]

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LG Energy initial public offering of $6 billion takes $80 billion in bids

PV Magazine: Chemical-based battery company LG Energy Solution‘s (LGES’) $10.7 billion initial public offering received bids worth around $80 billion from institutional investors, Reuters reported today. The book for the offering, the largest ever held in South Korea, will close tomorrow with deal pricing set for Friday. The reported IPO could take the company’s value […]

January 12, 2022 Read More →

Chile publishes renewables auction plans for 5,250 gigawatt-hours

Energy Storage News: Chile has published details of its latest power auction set to take place later this year that will contract 5,250GWh per annum for 15 years. The country’s National Energy Commission (CNE) said it will carry out the tender to support the government’s decarbonisation efforts and the promotion of renewables and energy storage […]

January 7, 2022 Read More →
IEEFA: The cash hit-list to counter climate change

IEEFA: The cash hit-list to counter climate change

From Glasgow, the U.S. and Europe must produce three critical fiscal developments to counter climate change

I was struck by the image of the G20 leaders tossing coins over their shoulders into the Trevi Fountain to make a wish. That pretty much sums up what members of that group will be left with – not least our own PM – if they don’t get moving on providing an adjustment mechanism to counter climate […]

International investment program targets transmission grid improvements in developing countries

Reuters: Ukraine, Fiji, Colombia, Kenya and Mali will be the first countries to participate in an investment program announced on Thursday that will help developing countries transform their power grids to carry growing levels of renewable energy. The Climate Investment Funds (CIF), created by the world’s biggest economies in 2008 to help developing countries accelerate […]

November 5, 2021 Read More →

Forrest plans potential $8.4 billion green hydrogen hub in Argentina

Reuters: Australian mining billionaire Andrew Forrest is planning what could be up to an $8.4 billion “green hydrogen” investment in Argentina, the South American country’s government said on Monday after a meeting between the businessman and President Alberto Fernandez. Forrest, whose Fortescue Metals Group Ltd (FMG.AX) aims to become carbon-neutral by 2030, is a major […]

November 2, 2021 Read More →

One-gigawatt wind-plus-battery projects on tap for Chile, Kazakhstan

Energy Storage News: Statkraft has been awarded a tender of public lands in Chile to host a wind power project and Total Eren is developing a 1GW wind power project in Kazakhstan: both would be paired with large-scale battery energy storage systems (BESS) of up to 1GWh capacity each.  Statkraft Chile said last week that […]

November 1, 2021 Read More →

Colombia awards contracts for 796.3 megawatts of solar energy

PV Tech: Colombia has awarded contracts to 11 solar PV projects with a combined capacity of 796.3MW in its third renewable energy auction. The winning projects are backed by 15-year power purchase agreements (PPAs) and are required to be operational from January 2023. Average winning bids in the auction yesterday (26 October) were COP155.8/kWh (US$0.0414/kWh), […]

October 28, 2021 Read More →

Essentia begins operations at 475-megawatt solar plant in Brazil

PV Tech: Essentia Energia has begun operations at its 475MW Sol do Sertao solar power plant in the Brazilian state of Bahia. Sol do Sertao is the second largest solar project in Brazil and the third largest in Latin America, according to Essentia. The plant, which took 19 months to complete, utilises more than one […]

October 25, 2021 Read More →
IEEFA: Guyanese oil deal tax incentives raise income reporting concerns
and

IEEFA: Guyanese oil deal tax incentives raise income reporting concerns

Government pays annual income taxes for ExxonMobil, Hess and CNOOC

September 28, 2021 (IEEFA) — Guyana is giving tax breaks worth at least USD$1.7 billion over five years to three of the world’s largest oil companies, according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA). Tax concessions granted to ExxonMobil, Hess and the China National Offshore Oil Company (CNOOC) by […]

and September 28, 2021 Read More →

Houston technology conference “bellwether for entire fossil fuel industry”

Houston Chronicle: The energy transition is well underway at the Offshore Technology Conference in Houston, and everyone in the fossil fuel industry should pay attention. Following the cancellation of last year’s OTC due to the COVID-19 pandemic, the four-day conference of energy suppliers, producers and supporters will be much smaller. Fewer panels, fewer technical discussions […]

August 19, 2021 Read More →