<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" > <channel> <title>Asia Archives • The Electricity Hub</title> <atom:link href="https://theelectricityhub.com/tag/asia/feed/" rel="self" type="application/rss+xml" /> <link>https://theelectricityhub.com/tag/asia/</link> <description>Collating and Disseminating Credible Power Industry Data and Information</description> <lastBuildDate>Fri, 14 Mar 2025 06:33:01 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod> hourly </sy:updatePeriod> <sy:updateFrequency> 1 </sy:updateFrequency> <generator>https://wordpress.org/?v=6.7.2</generator> <image> <url>https://theelectricityhub.com/wp-content/uploads/2020/11/cropped-NEH-32x32.png</url> <title>Asia Archives • The Electricity Hub</title> <link>https://theelectricityhub.com/tag/asia/</link> <width>32</width> <height>32</height> </image> <item> <title>OPEC Forecasts Surge in Global Oil Demand, Led by Asia and Transport Growth</title> <link>https://theelectricityhub.com/opec-forecasts-surge-in-global-oil-demand-led-by-asia-and-transport-growth/</link> <comments>https://theelectricityhub.com/opec-forecasts-surge-in-global-oil-demand-led-by-asia-and-transport-growth/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Thu, 13 Mar 2025 15:09:51 +0000</pubDate> <category><![CDATA[Carbon Emissions]]></category> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[News]]></category> <category><![CDATA[On-Grid]]></category> <category><![CDATA[Asia]]></category> <category><![CDATA[Oil consumption]]></category> <category><![CDATA[oil market]]></category> <category><![CDATA[OPEC]]></category> <category><![CDATA[Policy]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=101313</guid> <description><![CDATA[<p>The Organisation of the Petroleum Exporting Countries (OPEC) has confirmed its forecast for increasing global oil demand in 2025 and 2026, driven mainly by air and road transport. Oil consumption… </p> <p>The post <a href="https://theelectricityhub.com/opec-forecasts-surge-in-global-oil-demand-led-by-asia-and-transport-growth/">OPEC Forecasts Surge in Global Oil Demand, Led by Asia and Transport Growth</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">OPEC forecasts global oil demand will rise to 105.2 million bpd in 2025 and 106.6 million bpd in 2026, driven by transport and industrial growth.</li> <li class="">China, India, and other Asian nations, along with the Middle East and Latin America, will contribute the most to the demand increase.</li> <li class="">OPEC members plan to gradually reintroduce 2.2 million bpd into the market, while oil prices fluctuate around €70 per barrel due to economic uncertainties.</li> </ul> <p class="">The Organisation of the Petroleum Exporting Countries (OPEC) has confirmed its forecast for increasing global oil demand in 2025 and 2026, driven mainly by air and road transport. <a href="https://energynews.pro/en/opec-maintains-its-forecast-for-oil-demand-growth-in-2025-and-2026/">Oil consumption</a> will reach 105.2 million barrels per day (bpd) in 2025, up from 103.75 million bpd in 2024. By 2026, demand will grow further to 106.6 million bpd.</p> <p class="">Asia, especially China and India, will account for much of this growth, contributing about 1.3 million bpd. Other key regions include the Middle East and Latin America. Non-OECD countries will experience most of the demand increase, reflecting ongoing growth in their industrial activity.</p> <p class="">More vigorous industry, construction, and agriculture activity will also increase oil consumption, further boosting demand. OPEC expects this trend to continue over the next two years.</p> <p class="">In February, OPEC member countries raised oil production by 363,000 bpd, bringing output to 41 million bpd. This increase aligns with their phased plan to ease voluntary production cuts. Starting in April, OPEC will reintroduce 2.2 million bpd, which they had cut from the market. The group will reverse the cuts gradually, adding 120,000 bpd each month for 18 months.</p> <p class="">OPEC’s production strategy aims to balance supply with rising demand. However, oil prices fluctuate around €70 per barrel due to global economic uncertainties, particularly in the U.S. Concerns about oversupply compared to demand have also impacted prices.</p> <p class="">The oil market closely monitors these developments. Price fluctuations reflect ongoing concerns about the balance between supply and demand. As OPEC adjusts its production policy, it influences oil prices and market dynamics.</p> <p class="">OPEC’s forecast underscores the growing importance of transport, industry, and agriculture in driving future oil demand. Air and road transport will continue seeing strong growth as economic activity rebounds. Expanding industries, including construction and agriculture, will fuel rising demand, especially in non-OECD countries.</p> <p class="">China, India, and other Asian nations will lead the increase in demand as they expand their industries and economies. Middle Eastern and Latin American countries will also contribute to the growth in demand.</p> <p class="">OPEC’s decision to increase production responds to growing demand. By gradually easing cuts, OPEC ensures that supply meets demand without creating an oversupply. The group’s careful production management is crucial in maintaining balance in the global <a href="https://theelectricityhub.com/?s=oil+market">oil market</a>.</p> <p class="">In conclusion, OPEC projects steady growth in global oil demand, driven by transport and industry. Asia, the Middle East, and Latin America will drive this increase. OPEC’s production strategy, while aiming to balance the market, must also navigate oil price volatility. As demand rises, OPEC remains a key player in shaping the oil market’s future.</p> <p>The post <a href="https://theelectricityhub.com/opec-forecasts-surge-in-global-oil-demand-led-by-asia-and-transport-growth/">OPEC Forecasts Surge in Global Oil Demand, Led by Asia and Transport Growth</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/opec-forecasts-surge-in-global-oil-demand-led-by-asia-and-transport-growth/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Saudi Arabia’s Oil Shipments to China Set to Drop in April</title> <link>https://theelectricityhub.com/saudi-arabias-oil-shipments-to-china-set-to-drop-in-april/</link> <comments>https://theelectricityhub.com/saudi-arabias-oil-shipments-to-china-set-to-drop-in-april/#respond</comments> <dc:creator><![CDATA[Iseoluwa Asaolu]]></dc:creator> <pubDate>Thu, 13 Mar 2025 12:54:00 +0000</pubDate> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[International News]]></category> <category><![CDATA[Off-Grid]]></category> <category><![CDATA[Prospects & Challenge]]></category> <category><![CDATA[Renewables]]></category> <category><![CDATA[Sustainable Development]]></category> <category><![CDATA[Asia]]></category> <category><![CDATA[Gaoqiao]]></category> <category><![CDATA[Iranian]]></category> <category><![CDATA[Jiujiang]]></category> <category><![CDATA[oil markets]]></category> <category><![CDATA[Russian]]></category> <category><![CDATA[Sinopec]]></category> <category><![CDATA[Yangzi]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=101282</guid> <description><![CDATA[<p>Saudi Arabia is expected to see its crude oil exports to China drop to their lowest level in more than a year in April, Reuters revealed on Thursday, March 13.… </p> <p>The post <a href="https://theelectricityhub.com/saudi-arabias-oil-shipments-to-china-set-to-drop-in-april/">Saudi Arabia’s Oil Shipments to China Set to Drop in April</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">Saudi Arabia’s crude shipments to China will fall to a year-low in April, partly due to Sinopec’s refinery maintenance. </li> <li class="">As OPEC+ plans to raise production, China’s demand will drop, while Russian and Iranian oil supplies will rebound in Asia.</li> </ul> <p class="">Saudi <a href="https://www.reuters.com/business/energy/saudi-crude-oil-supply-china-slump-april-sources-say-2025-03-13/">Arabia</a> is expected to see its crude oil exports to China drop to their lowest level in more than a year in April, Reuters revealed on Thursday, March 13. </p> <p class="">This decline comes as Sinopec, China’s state-run oil giant, plans significant maintenance programs at its refineries, reducing its need for crude oil.</p> <p class="">According to Reuters data, Saudi Arabia allocated 34 million barrels of crude oil to China in April, a sharp decrease from the 41 million barrels planned for March. This reduction marks a noticeable drop in Saudi Arabia’s oil exports to its largest customer.</p> <p class="">Maintenance at Sinopec’s refineries plays a key role in decreasing demand. From mid-March through May, <a href="https://theelectricityhub.com/?s=Sinopec">Sinopec</a> will shut down at least 700,000 barrels per day (bpd) of crude refining capacity at its subsidiaries, including the Yangzi, Jiujiang, and Gaoqiao refineries.</p> <p class="">These closures are set to disrupt China’s crude oil processing significantly and, in turn, reduce its demand for Saudi oil.</p> <p class="">This decline in China’s oil demand comes as OPEC+ plans to raise oil production in April. OPEC and its allies decided to increase production to address global market conditions, but Saudi Arabia’s drop in exports to China underscores the challenges facing the organisation in adjusting to fluctuating demand.</p> <p class="">Meanwhile, <a href="https://theelectricityhub.com/?s=oil+markets+">oil markets </a>in Asia are stabilising after a period of disruption caused by U.S. sanctions on Russian and Iranian oil in late 2024 and early 2025. Sources and analysts suggest that China’s Russian Far East crude and Iranian oil imports will rebound in March.</p> <p class="">Non-sanctioned tankers, motivated by higher payoffs, have replaced vessels previously under U.S. embargo, helping to stabilise the trade flow.</p> <p class="">In <a href="https://theelectricityhub.com/?s=oil+markets+">India</a>, the world’s third-largest oil importer, Russian oil supplies have also started to recover this month, further shifting global trade patterns.</p> <p class="">These developments highlight the ever-changing dynamics of the global oil market. As Saudi Arabia reduces its oil shipments to China, maintenance schedules, geopolitical issues, and shifting market conditions continue to shape energy flows, challenging oil-exporting countries to navigate a complex landscape.</p> <p>The post <a href="https://theelectricityhub.com/saudi-arabias-oil-shipments-to-china-set-to-drop-in-april/">Saudi Arabia’s Oil Shipments to China Set to Drop in April</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/saudi-arabias-oil-shipments-to-china-set-to-drop-in-april/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Southeast Asia Set to Power 12% of Global Green Jet Fuel by 2050</title> <link>https://theelectricityhub.com/southeast-asia-set-to-power-12-of-global-green-jet-fuel-by-2050/</link> <comments>https://theelectricityhub.com/southeast-asia-set-to-power-12-of-global-green-jet-fuel-by-2050/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Wed, 04 Sep 2024 06:40:57 +0000</pubDate> <category><![CDATA[Carbon Emissions]]></category> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[International News]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Sustainable Development]]></category> <category><![CDATA[Sustainable Transport]]></category> <category><![CDATA[Asia]]></category> <category><![CDATA[Green Fuel]]></category> <category><![CDATA[jet fuel]]></category> <category><![CDATA[SAF]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=93024</guid> <description><![CDATA[<p>A report released on September 3 shows Southeast Asia could supply 12% of the world’s sustainable aviation fuel (SAF) by 2050. This potential translates to 45.7 million tonnes of SAF… </p> <p>The post <a href="https://theelectricityhub.com/southeast-asia-set-to-power-12-of-global-green-jet-fuel-by-2050/">Southeast Asia Set to Power 12% of Global Green Jet Fuel by 2050</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">Southeast Asia could supply 12% of global sustainable aviation fuel by 2050, producing 45.7 million tonnes annually from raw materials like rice husks and sugarcane.</li> <li class="">With low environmental risks, Indonesia, Thailand, Vietnam, Malaysia, and the Philippines contribute 90% of the region’s SAF production capacity.</li> <li class="">Singapore targets 1% green jet fuel use by 2026 and up to 5% by 2030, supported by a passenger levy and production at Neste’s Tuas South refinery.</li> </ul> <p class="">A <a href="https://www.straitstimes.com/singapore/s-e-asia-raw-materials-capable-of-producing-12-of-global-green-jet-fuel-needed-by-2050">report</a> released on September 3 shows Southeast Asia could supply 12% of the world’s sustainable aviation fuel (<a href="https://theelectricityhub.com/?s=SAF">SAF</a>) by 2050. This potential translates to 45.7 million tonnes of SAF annually by processing raw materials like rice husks, sugarcane, and palm oil residues.</p> <p class="">The Roundtable on Sustainable Biomaterials (RSB) commissioned the report in mid-2023 with support from Boeing. The report highlights the region’s significant role in <a href="https://theelectricityhub.com/?s=green+aviation+fuel+production">green aviation fuel production</a>. Due to their abundance, rice husks and straw are the primary feedstocks, making up 37% of the region’s feedstock. </p> <p class="">These materials also present low environmental and social risks, avoiding significant issues like deforestation, water stress, and human rights violations. Indonesia, Thailand, Vietnam, Malaysia, and the Philippines collectively contribute 90% of Southeast Asia’s SAF production capacity. </p> <p class="">Boeing emphasised SAF’s critical role in reducing aviation’s carbon emissions over the next 30 years. The International Civil Aviation Organization (ICAO), a UN agency, set goals for the sector to achieve net-zero emissions by 2050 and a 5% reduction in <a href="https://theelectricityhub.com/?s=carbon+emissions">carbon emissions</a> by 2030 through cleaner energy sources.</p> <p class="">The International Air Transport Association (IATA) plans to create a SAF registry by early 2025 to support these objectives. This registry will allow airlines to report emissions reductions accurately. Despite these initiatives, unblended green aviation fuel accounts for only 0.2% of global <a href="https://theelectricityhub.com/?s=commercial+fuel">commercial fuel</a> use.</p> <p class="">Singapore’s authorities aim to have green jet fuel makeup 1% of all aviation fuel used at Changi and Seletar Airports by 2026, with a target of 3% to 5% by 2030. To fund this effort, the Singaporean government will introduce a passenger levy on flights departing Changi Airport starting in 2026. This levy will support bulk purchases of SAF for airline use.</p> <p class="">Singapore also hosts Neste’s Tuas South refinery, the world’s largest facility for producing jet fuel from waste materials. It can produce up to one million tonnes of <a href="https://theelectricityhub.com/?s=green+jet+fuel">green jet fuel</a> annually.</p> <p class="">The report urges governments to implement policies that encourage SAF production. These policies include subsidies for industry-led projects and partnerships with regional organisations. The report also recommends focusing on feedstocks with high availability and low sustainability risks, such as rice husks and sugarcane pulp, instead of palm oil and corn.</p> <p class="">During a media briefing on September 3, Robert Boyd, Boeing’s Asia-Pacific regional sustainability lead, stated that Southeast Asia possesses enough feedstock to meet the region’s jet fuel demand, provided the raw materials remain within the area.</p> <p class="">When asked about the potential impact of SAF on flight prices, Boyd assured that costs would not rise significantly. The gradual rollout of SAF in small amounts over the coming years is expected to minimise price increases.</p> <p>The post <a href="https://theelectricityhub.com/southeast-asia-set-to-power-12-of-global-green-jet-fuel-by-2050/">Southeast Asia Set to Power 12% of Global Green Jet Fuel by 2050</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/southeast-asia-set-to-power-12-of-global-green-jet-fuel-by-2050/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Posco Raises $500m Through U.S. Green Bond</title> <link>https://theelectricityhub.com/posco-raises-500m-through-u-s-green-bond/</link> <comments>https://theelectricityhub.com/posco-raises-500m-through-u-s-green-bond/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Wed, 17 Jan 2024 10:21:00 +0000</pubDate> <category><![CDATA[Green Hydrogen]]></category> <category><![CDATA[International News]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Sustainable Development]]></category> <category><![CDATA[Asia]]></category> <category><![CDATA[POSCO]]></category> <category><![CDATA[South Korea]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=83824</guid> <description><![CDATA[<p>South Korean steelmaker, Posco, has successfully raised $500 million through a three-year United States dollar green bond. The bond, priced at Treasuries plus 110 basis points, saw final pricing set… </p> <p>The post <a href="https://theelectricityhub.com/posco-raises-500m-through-u-s-green-bond/">Posco Raises $500m Through U.S. Green Bond</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">Posco raises $500 million through a three-year United States dollar green bond.</li> <li class="">The bond’s final pricing was set 40 basis points tighter than the initial guidance.</li> </ul> <p class=""><a href="https://www.reuters.com/sustainability/sustainable-finance-reporting/south-koreas-posco-raises-500-mln-three-year-green-bond-term-sheet-2024-01-17/">South Korean</a> steelmaker, Posco, has successfully raised $500 million through a three-year United States dollar <a href="https://theelectricityhub.com/?s=Green+bond">green bond.</a> The bond, priced at Treasuries plus 110 basis points, saw final pricing set 40 basis points tighter than initial guidance. Posco, not responding immediately to comments, experienced strong demand, reaching $4 billion, with 71 per cent of buyers from Asia Pacific. </p> <p class="">In addition, the firm received 19 per cent from Europe and the Middle East and 10 per cent from the United States. Over 200 investors participated, mostly asset and fund managers. This successful bond issuance is part of a robust start to 2024 for South Korea’s corporates, with SK Battery America and Woori Bank also making noteworthy transactions. According to a mandated book-runner notice, Mirae Asset Securities is exploring a potential three and five-year dollar bond.</p> <p>The post <a href="https://theelectricityhub.com/posco-raises-500m-through-u-s-green-bond/">Posco Raises $500m Through U.S. Green Bond</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/posco-raises-500m-through-u-s-green-bond/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>UN Alert: One Million SqKm Lost to Human-Driven Sandstorms</title> <link>https://theelectricityhub.com/un-alert-one-million-sqkm-lost-to-human-driven-sandstorms/</link> <comments>https://theelectricityhub.com/un-alert-one-million-sqkm-lost-to-human-driven-sandstorms/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Wed, 15 Nov 2023 13:20:37 +0000</pubDate> <category><![CDATA[Climate Change]]></category> <category><![CDATA[COP28]]></category> <category><![CDATA[International News]]></category> <category><![CDATA[Africa]]></category> <category><![CDATA[Asia]]></category> <category><![CDATA[climate change]]></category> <category><![CDATA[United Nations]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=82154</guid> <description><![CDATA[<p>The United Nations Convention to Combat Desertification (UNCCD) warns that human activities cause the loss of nearly 1 million square kilometres of productive land yearly to sand and dust storms.… </p> <p>The post <a href="https://theelectricityhub.com/un-alert-one-million-sqkm-lost-to-human-driven-sandstorms/">UN Alert: One Million SqKm Lost to Human-Driven Sandstorms</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">UN Alert: One million sqkm lost annually to human-driven sandstorms.</li> <li class="">These activities could result in global economic damage, food supply impact, migration, navigation issues and security risks.</li> </ul> <p class="">The United Nations Convention to Combat Desertification (UNCCD) warns that human activities cause the loss of nearly 1 million square kilometres of productive land yearly to sand and dust storms. Two billion tons of sand and dust enter the atmosphere annually, wreaking havoc in Asia and Africa and causing <a href="https://theelectricityhub.com/?s=global+economic+damage">global economic damage</a>. The report, released in Samarkand, Uzbekistan, attributes a quarter of these storms to human actions like over-mining and overgrazing.</p> <p class="">Ibrahim Thiaw, UNCCD executive secretary, says the consequences extend beyond immediate environmental impact, affecting vulnerable countries’ food supplies, driving migration, hindering navigation, and posing security risks. The UNCCD calls for improved land management, early warning systems, and increased resilience. Funding is a significant challenge, with only $15 billion allocated from 2016 to 2019 across 126 countries.</p> <p class="">Thiaw emphasises the need for new incentives and public funding to encourage responsible private-sector land use. China is lauded for successfully combating desertification through long-term land restoration and reforestation. However, vulnerabilities persist, notably from sand blown in from degraded land in Mongolia. As COP28 approaches, Thiaw stresses the vital role of sustained land restoration in the global battle against climate change since land use changes are identified as a significant contributor to emissions.</p> <p>The post <a href="https://theelectricityhub.com/un-alert-one-million-sqkm-lost-to-human-driven-sandstorms/">UN Alert: One Million SqKm Lost to Human-Driven Sandstorms</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/un-alert-one-million-sqkm-lost-to-human-driven-sandstorms/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Oil Prices Decline Amid Supply Concerns </title> <link>https://theelectricityhub.com/oil-prices-decline-amid-supply-concerns/</link> <comments>https://theelectricityhub.com/oil-prices-decline-amid-supply-concerns/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Tue, 03 Oct 2023 15:59:53 +0000</pubDate> <category><![CDATA[International News]]></category> <category><![CDATA[Asia]]></category> <category><![CDATA[oil prices]]></category> <category><![CDATA[United States]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=80769</guid> <description><![CDATA[<p> The oil market saw a 1 per cent decline in prices in the Asian trading session in the early hours of Tuesday following a recent three-week low. As reported in… </p> <p>The post <a href="https://theelectricityhub.com/oil-prices-decline-amid-supply-concerns/">Oil Prices Decline Amid Supply Concerns </a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <p> </p> <ul class="wp-block-list"> <li>Oil prices declined by 1% in the early Asian market trade on Tuesday, following a recent three-week low. </li> <li>A client note reported that crude oil prices reached $90 a barrel, with concerns arising over the cost of storing inventories amidst a narrow supply. </li> </ul> <p>The oil market saw a 1 per cent decline in prices in the Asian trading session in the early hours of Tuesday following a recent three-week low. As reported in a client note, crude <a href="https://theelectricityhub.com/?s=oil+prices">oil prices</a> fell to $90 a barrel. The tightening supply of crude oil has been a critical factor in recent market dynamics. However, rising interest rates raise concerns about the cost of storing inventories. This situation may prompt further destocking of oil inventories, potentially increasing spot availability. </p> <p>On Monday, the US Dollar surged to a 10-month high against a basket of major currencies. This impressive rally came as the US government avoided a partial shutdown. Additionally, positive economic data has increased expectations that the Federal Reserve may decide to maintain higher interest rates for longer. </p> <p>The prospect of a prolonged interest rate hike has led to discussions about the possible impact on economic growth. The combination of these factors continues to paint a volatile picture for the global oil market, with investors closely monitoring developments to gain insight into future price movements. </p> <p>The post <a href="https://theelectricityhub.com/oil-prices-decline-amid-supply-concerns/">Oil Prices Decline Amid Supply Concerns </a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/oil-prices-decline-amid-supply-concerns/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Bahrain Signs Contract for 72MW Solar Park Project</title> <link>https://theelectricityhub.com/bahrain-signs-contract-for-72mw-solar-park-project/</link> <comments>https://theelectricityhub.com/bahrain-signs-contract-for-72mw-solar-park-project/#respond</comments> <dc:creator><![CDATA[Blessing Afolabi]]></dc:creator> <pubDate>Wed, 16 Aug 2023 08:46:41 +0000</pubDate> <category><![CDATA[International News]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Sustainable Development]]></category> <category><![CDATA[Asia]]></category> <category><![CDATA[Bahrain]]></category> <category><![CDATA[Solar]]></category> <category><![CDATA[Solar PV]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=79817</guid> <description><![CDATA[<p>Bahrain, Arabian Gulf’s smallest oil producer, has signed agreements to set up a solar park project with a capacity of 72MW (megawatts) as part of its drive to increase the country’s… </p> <p>The post <a href="https://theelectricityhub.com/bahrain-signs-contract-for-72mw-solar-park-project/">Bahrain Signs Contract for 72MW Solar Park Project</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li>The solar PV project would include rooftop, ground-mounted solar power systems and electric vehicle charging stations.</li> </ul> <ul class="wp-block-list"> <li>The 72MW solar project would increase Bahrain’s share of clean energy to achieve net-zero emissions by 2060.</li> </ul> <p>Bahrain, Arabian Gulf’s smallest oil producer, has signed agreements to set up a solar park project with a capacity of 72MW (megawatts) as part of its drive to increase the country’s share of clean energy in the electricity mix to 5 per cent by 2025 and 20 per cent by 2035.</p> <p>The solar Photovoltaic (PV) project, located in Bahrain’s southern region of Sakhir, will include rooftop and ground-mounted solar power systems as well as electric vehicle charging stations at the Bahrain International Circuit, the University of Bahrain, Exhibition World Bahrain, and the Al Dana Amphitheatre.</p> <p>The Minister of Electricity and Water Affairs, Yasser Humaidain, disclosed that the project is part of Bahrain’s National Renewable Energy Action Plan and international commitments to achieve net-zero emissions by 2060. He added that the solar park project would help achieve sustainable economic development for the kingdom and its citizens. He said this confirms the importance of expanding the use of solar energy to preserve the environment and ensure the sustainability of resources.</p> <p>The post <a href="https://theelectricityhub.com/bahrain-signs-contract-for-72mw-solar-park-project/">Bahrain Signs Contract for 72MW Solar Park Project</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/bahrain-signs-contract-for-72mw-solar-park-project/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>SPNEC Submits Contract for 10GW Project</title> <link>https://theelectricityhub.com/spnec-submits-contract-for-10gw-project/</link> <comments>https://theelectricityhub.com/spnec-submits-contract-for-10gw-project/#respond</comments> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 21 Jun 2022 09:25:49 +0000</pubDate> <category><![CDATA[International News]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Asia]]></category> <category><![CDATA[Clean Energy]]></category> <category><![CDATA[Phillipine]]></category> <category><![CDATA[Solar]]></category> <category><![CDATA[SPNEC]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=70317</guid> <description><![CDATA[<p>SPNEC makes bids for 10 GW of projects. Solar Philippines Batangas Baseload Corporation is also planning a solar project with a storage capacity of up to 2 GW. The tender… </p> <p>The post <a href="https://theelectricityhub.com/spnec-submits-contract-for-10gw-project/">SPNEC Submits Contract for 10GW Project</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[<ul> <li>SPNEC makes bids for 10 GW of projects.</li> <li>Solar Philippines Batangas Baseload Corporation is also planning a solar project with a storage capacity of up to 2 GW.</li> <li>The tender results should be disclosed by June 24.</li> </ul> <p>Solar Philippines Nueva Ecija Corporation, a publicly-traded subsidiary of solar developer Solar Philippines, has made bids for 10 GW of projects. These offers, which represent 9 TWh of contracted yearly power generation, are currently awaiting clearance from off-takers and regulators, according to a bourse filing by SPNEC.</p> <p>SPNEC proposes asset-for-share swaps with its parent company as part of its ambition of creating 10 GW solar projects, as announced in January. Aside from the projected 500-MW Nueva Ecija solar farm, the freshly submitted offers are related to the asset-for-share swap package’s progress.</p> <p>Terra Solar Philippines Inc, a joint venture with Prime Infra, would install 3.5 GW of solar panels and 4.5 GWh of battery storage in the largest project. An 850 MW share of the overall capacity of Manila Electric Company, better known as Meralco, would be supplied by this solar-plus-storage project. Solar Philippines Batangas Baseload Corporation is also planning a solar project with a storage capacity of up to 2 GW.</p> <p>These and other businesses, according to SPNEC, were among the qualified bidders for the Department of Energy’s (DOE) 2 GW green energy auction program. The tender results should be disclosed by June 24.</p> <p>“While we have been constrained from commenting on our projects due to ongoing contracting processes, we look forward to sharing more details in the coming days, giving a better picture of what SPNEC will look like after the asset-for-share swap,” said Solar Philippines founder Leandro Leviste.</p> <p>The post <a href="https://theelectricityhub.com/spnec-submits-contract-for-10gw-project/">SPNEC Submits Contract for 10GW Project</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/spnec-submits-contract-for-10gw-project/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>USAID to Invest In Vietnam’s Clean Energy Development</title> <link>https://theelectricityhub.com/usaid-to-invest-in-vietnams-clean-energy-development/</link> <comments>https://theelectricityhub.com/usaid-to-invest-in-vietnams-clean-energy-development/#respond</comments> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Mon, 20 Jun 2022 09:23:22 +0000</pubDate> <category><![CDATA[International News]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Asia]]></category> <category><![CDATA[Clean Energy]]></category> <category><![CDATA[USAID]]></category> <category><![CDATA[Vietnam]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=70266</guid> <description><![CDATA[<p>USAID announces a $36 million clean energy investment scheme for Vietnam. USAID will engage with Vietnam’s MOIT to promote clean energy. John Yeap of Pinsent Masons, a renewables expert, says… </p> <p>The post <a href="https://theelectricityhub.com/usaid-to-invest-in-vietnams-clean-energy-development/">USAID to Invest In Vietnam’s Clean Energy Development</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[<ul> <li>USAID announces a $36 million clean energy investment scheme for Vietnam.</li> <li>USAID will engage with Vietnam’s MOIT to promote clean energy.</li> <li>John Yeap of Pinsent Masons, a renewables expert, says with DPPA, Vietnam will be ahead of its neighbour.</li> </ul> <p>The US Agency for International Development (USAID) has announced a US$36 million clean energy investment scheme to enhance private sector investment and improve operational performance in Vietnam’s energy industry.</p> <p>The Vietnam Low Emission Energy Program II is the initiative’s name (V-LEEP2). By mobilizing private sector investment and providing project design help for developers and technical assistance for lenders, USAID will engage with Vietnam’s Ministry of industry and trade (MOIT) to promote clean energy deployment.</p> <p>The program is a continuation of V-LEEP I, which operated from 2015 to 2020. Under V-LEEP I, USAID collaborated with the Ministry of Industry and Trade on Vietnam’s Power Development Master Plan VIII (PDMPVIII) and designed the Direct Power Purchase Agreement (DPPA) pilot program, which will allow businesses in Vietnam to buy electricity directly from private renewable energy producers. In addition, working with the private sector, V-LEEP, I secured $311 million in funding for wind and solar projects totalling 300 megawatts.</p> <p>“With the progress of the DPPA program, Vietnam is moving ahead of some of its neighbours in enabling commercial power customers with corporate emissions reduction targets to accomplish their net-zero ambitions,” said John Yeap of Pinsent Masons, a renewables expert.</p> <p>“Nevertheless, the move towards direct bilateral negotiations for offtake arrangements in single buyer markets seems likely to continue as these markets continue to explore ways to enable off-takers direct access to electricity from renewable energy sources,” he said.</p> <p>Meanwhile, the ministry released <a href="https://www.ijglobal.com/articles/164194/vietnam-drafts-1gw-dppa-trial">a draft policy on the DPPA scheme</a>, including launching a competitive wholesale electricity market with a 1GW capacity. In addition, power plants that have not yet operations but are included in the power development plans may join the pilot programme. These projects will require identified investors, approved by state agencies.</p> <p>During the pilot operation phase, selected power producers will directly negotiate and sign bilateral contracts with power consumers, including contractual output, contract price, and reference price.</p> <p>The post <a href="https://theelectricityhub.com/usaid-to-invest-in-vietnams-clean-energy-development/">USAID to Invest In Vietnam’s Clean Energy Development</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/usaid-to-invest-in-vietnams-clean-energy-development/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Siemens and Desert Technologies to Invest in 1GW of Solar Through Joint Venture</title> <link>https://theelectricityhub.com/siemens-and-desert-technologies-to-invest-in-1gw-of-solar-through-joint-venture/</link> <comments>https://theelectricityhub.com/siemens-and-desert-technologies-to-invest-in-1gw-of-solar-through-joint-venture/#respond</comments> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Thu, 24 Feb 2022 06:44:55 +0000</pubDate> <category><![CDATA[International News]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Renewables]]></category> <category><![CDATA[Africa]]></category> <category><![CDATA[Asia]]></category> <category><![CDATA[Capton Energy]]></category> <category><![CDATA[Desert Technologies]]></category> <category><![CDATA[Middle East]]></category> <category><![CDATA[Siemens]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=67090</guid> <description><![CDATA[<p>Both companies formed a joint venture. They plan to deploy 1GW solar infrastructure in the Middle East, Africa and Asia. Saudi solar power company Desert Technologies and German industrial conglomerate… </p> <p>The post <a href="https://theelectricityhub.com/siemens-and-desert-technologies-to-invest-in-1gw-of-solar-through-joint-venture/">Siemens and Desert Technologies to Invest in 1GW of Solar Through Joint Venture</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[<ul> <li>Both companies formed a joint venture.</li> <li>They plan to deploy 1GW solar infrastructure in the Middle East, Africa and Asia.</li> </ul> <p>Saudi solar power company Desert Technologies and German industrial conglomerate Siemens have formed a joint venture to develop and invest in over 1GW of solar and smart infrastructure in the Middle East, Africa and Asia.</p> <p>According to Desert Technologies, the joint venture known as Capton Energy will invest in existing and greenfield solar power projects with an output in the range of 20MW to 100MW.</p> <p>As chief executive, the joint business is headed by energy and infrastructure financing expert Umer Ahmad. The company is already working on a pipeline of solar-themed investments and is in progressive discussions to launch the inaugural fundraising, Ahmad said in the statement.</p> <p>Capton Energy will build on the partners’ technology and expertise in developing solar plants. Jeddah-based Desert Technologies operates as a solar developer and an EPC and O&M contractor with more than 40 completed solar projects in 22 countries. At its headquarters, the company has a 110MW factory to produce solar panels.</p> <p>The joint venture launch took place at Expo 2020 Dubai on Monday.</p> <p>The post <a href="https://theelectricityhub.com/siemens-and-desert-technologies-to-invest-in-1gw-of-solar-through-joint-venture/">Siemens and Desert Technologies to Invest in 1GW of Solar Through Joint Venture</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/siemens-and-desert-technologies-to-invest-in-1gw-of-solar-through-joint-venture/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> </channel> </rss>