South America

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IEEFA: Guyana’s oil future relies on ‘lower-than-average governmental take’

IEEFA: Guyana’s oil future relies on ‘lower-than-average governmental take’

Deal raises questions for ExxonMobil shareholders, Guyanese citizens

Last week, IHS Markit released an updated analysis of ExxonMobil’s progress in Guyana that projected significant oil and cash flow from the Yellowtail phase of development. The announcement is one of several upbeat reports about the progress of oil and gas development in Guyana. Buried in this optimistic assessment was an important insight: The company’s […]

March 10, 2021 Read More →
IEEFA Africa: Is Angola a cautionary tale for Guyana’s oil wealth hopes?

IEEFA Africa: Is Angola a cautionary tale for Guyana’s oil wealth hopes?

After 25 years of deepwater drilling, African nation sinks $76B deeper in debt

The  South American country of Guyana, the latest nation to have discovered commercial reserves of oil and gas, hopes to raise its standard of living, cut its debt, eliminate its deficit and create a sovereign wealth fund. It is in a weak position to accomplish these goals.  Consider the example of Angola, which has hosted […]

Special event: Guyana debates offshore oil contracts with ExxonMobil-led consortium

Experts see economic drawbacks and risks for revenues and sovereign wealth fund

Kaieteur News in collaboration with Kaieteur Radio will host a live-streamed end-of-year debate in Guyana on December 31 at 11:00 AM GYT (10:00 AM EST). Panelists will explore Guyana’s first year as an oil-producing state, what went right, what went wrong, the global outlook for oil and gas, and the steps needed to ensure transparency […]

December 23, 2020 Read More →

Oil giant Total ups renewable energy installation goal to 35GW by 2025

Recharge: Oil supermajor Total raised its renewable energy target to 35GW by 2025, as it pursues an ambition to become a global top-five player in the green power sector that could see it adding 10GW of new projects annually, the company said on Wednesday. The new 2025 goal for gross capacity developed adds 10GW to […]

October 1, 2020 Read More →

AES Gener plans 863MW wind-solar-storage project in Chile

Renewables Now: Santiago-based power company AES Gener SA submitted in Chile the environmental impact statement (EIS) for the 863-MW Parque Terra Energia Renovable wind-and-solar hybrid project. According to documents sent to the Chilean environmental evaluation service (SEA), the South American firm plans to invest USD 750 million (EUR 634.6m) in the project through its unit […]

August 18, 2020 Read More →

Exports from Colombia’s Cerrejon coal mine down 26% in first half of 2020

Reuters: Cerrejon, one of Colombia’s biggest coal producers, said on Friday its export figure for the first half of 2020 was its lowest in 18 years due to a slump in coal demand, legal rulings and the COVID-19 crisis. The mine, located in the poor desert province of La Guajira, is owned equally by BHP […]

August 17, 2020 Read More →

Strength seen in global wind-power supply chain

Frost & Sullivan: The increasing demand for energy worldwide and traditional energy independence due to volatile oil prices is encouraging governments throughout the world to harness the potential of renewable energy, driving the global market for wind turbine materials. Expanding at a compound annual growth rate (CAGR) of 8.9%, the wind turbine materials market is […]

April 8, 2020 Read More →

Norway’s Statkraft plans to add 9GW of new renewable energy capacity by 2025

S&P Global Market Intelligence ($): Norwegian state-owned utility Statkraft AS has pledged to invest between 60 billion kroner and 80 billion kroner in renewable energy projects by 2025, executives said on the company’s 2019 earnings call on Feb. 13. The company is aiming to be Europe’s largest hydropower producer, and will also invest in more […]

February 13, 2020 Read More →

Despite China slowdown, IHS Markit expects 129GW of new solar capacity in 2019

PV Tech: IHS Markit has reiterated its global solar demand forecast for 2019, despite lower expectations for China. The market research firm said that faster than anticipated growth in some international markets such as the Netherlands, Spain, Germany, Italy, Turkey, or Ukraine had reduced the growth risks associated with weaker demand in China.  IHS Markit […]

November 14, 2019 Read More →

Group of Latin American countries sets goal of 70% green energy by 2030

Reuters: Latin American countries have set a collective target of 70 percent renewable energy use by 2030, more than double what the European Union is planning, Colombia’s energy minister said, ahead of her country’s October renewables tender. Colombia presented the target at the United Nations Climate Action Summit this week, where world leaders were asked […]

September 27, 2019 Read More →