Spanish Company Wins Contract To Operate Tema LNG Regasification Terminal
Spain’s LNG terminal operator, Reganosa, has been awarded a contract to operate and maintain the 2.34 billion cubic meter/year Tema LNG regasification terminal in Ghana, currently under construction, the company announced January 7, 2021.
Tema LNG Terminal Company, which owns the terminal, awarded Reganosa the contract for the O&M of the floating storage and regasification unit, as well as the associated 6 km gas pipeline and a pressure reduction and metering station connected to the existing pipeline network, which will be in the power and industrial enclave of Tema.
The company did not disclose financial details.
Tema LNG, backed by Helios Investment Partners and Africa Infrastructure Investment Managers, is set to be the first offshore LNG receiving terminal in sub-Saharan Africa.
The purpose-built FRU was built by Jiangnan Shipbuilding, a subsidiary of China State Shipbuilding Corporation.
It left the Jiangnan shipyard at the end of November and was delivered to its site on January 7. It is expected to start delivering LNG to customers in the first quarter of 2021.
The FRU will be located within Tema Port, where TLTC has constructed additional marine infrastructure that will allow for cost-efficient LNG loading and regasification without affecting maritime and port traffic in the Gulf of Guinea.
LNG will be supplied under a long-term contract with Shell. The onshore reception facilities will receive the gas from the FRU via subsea pipelines, before delivering natural gas to the Ghana National Petroleum Corporation and its customers.
The terminal will employ the innovative combination of the FRU twinned with an existing LNG carrier to receive, store and regasify LNG, Reganosa said.
“This system provides Ghana with all the functionality of a large scale FRU-terminal, but with added flexibility, allowing it to respond to rapidly increasing domestic gas demand with a cleaner and more affordable energy solution,” it said.
“The Tema LNG terminal aims to meet Ghana’s growing energy demand through an innovative yet cost-efficient, reliable supply,” Edmund Agyeman-Duah, the project manager of TLTC, said.
“Once operational, this FRU will allow the Tema LNG facility to receive, regasify, store and deliver roughly 1.7 million mt of LNG a year — 30% of Ghana’s general capacity.”
“Tema LNG’s year-round supply of gas will enable the GNPC to supply reliable and cost-effective gas into the Tema power and industrial enclave, while strengthening West Africa’s energy security,” Agyeman-Duah said.
Source: Spglobal.com
India To Construct World’s Largest Floating Solar Project
India has hinted of its plans to construct world’s largest floating 600 MW solar energy project at Omkareshwar dam on Narmada River in Khandwa district of Madhya Pradesh.
The project is expected to begin power generation by year 2022-23.
The estimated investment in this project stands at Rs 3,000 crore, said an official release quoting the state’s new and renewable energy minister Hardeep Singh Dang.
The International Finance Corporation, World Bank and Power Grid have granted in-principle consent for providing aid for the said project development.
The primary feasibility study of the project has been completed in collaboration with the World Bank. The project is likely to begin power generation by year 2022-23, the minister said.
Dang said that the work of transmission line route survey will begin from the project area to Khandwa sub-station by power grid this month.
Tender for the study of environmental and social impact of the project area is also being issued. Madhya Pradesh Power Management Company has agreed to purchase 400 MW power from the project, he said.
The project will have floating solar panels of 600 MW power generation capacity in the backwaters of Omkareshwar dam. It is estimated that in 2 years, the project will start providing cheap and good quality power.
Electricity will be produced in about 2000-hectare water area by installing solar panels in the dam. Solar panels will float on the surface of the water in the reservoir, the release said.
When the water level of the dam is low, it will automatically adjust upwards and downwards. Strong waves and floods will have no effect on them. The sun’s rays will continue to produce electricity, it added.
Halliburton Appoints Van Beckwith As New Chief Legal Officer
Halliburton Company, one of the world’s leading products and services providers in the energy industry has appointed Van H. Beckwith as executive vice president, secretary and chief legal officer.
Beckwith succeeds Robb Voyles who is stepping down after seven years with the Company.
With this new role, Beckwith joins the Halliburton Executive Committee and assumes leadership of the Company’s Law Department, Global Communications & Marketing and Government Affairs.
“Van brings an extensive legal background and broad strategic leadership to Halliburton,” said Halliburton Chairman, President & CEO Jeff Miller.
“He is a strong addition to our executive leadership team and a great leader for our Company’s legal and communications groups.”
Beckwith joined Halliburton last year from Baker Botts L.L.P. where he practiced law for almost 30 years. He was global chair of the firm’s Litigation Department and a member of its Executive Committee.
Throughout 2020, Beckwith led the commercial law group and worked with Voyles to transition overall leadership responsibilities.
“Robb has been a trusted and strategic advisor to Halliburton and our Board of Directors, as well as a valued member of the Halliburton Executive Committee,” added Miller. “He established a standard of excellence for our legal and communications departments that I am confident Van will continue.”
Ghana: Fifteen Percent Of Ghanaian Population Without Electricity To Be Connected In My Second Term-President Akufo-Addo
Ghana’ President, H.E. Nana Akufo-Addo, has indicated that the remaining areas in the country that are not connected to national grid will be connected in his second term.
President Akufo-Addo made the pledge during his inaugural address at his investiture in Ghana’s parliament on Thursday, January 7, 2021.
Ghana’s population, as at the middle of 2020, was estimated at 31,072,940 according to data by the United Nation’s.
Currently, the West African nation has attained electricity access rate of about 85 percent with the remaining 15 percent of the population without electricity.
Ghana: President Praises BPA, Energy Ministry For Execution Of First Micro-Hydro Power Generation Station At AlavanyoAccording to Akufo-Addo, the remaining population would be connected to electricity in his second term to ensure economic growth. “The remaining fifteen percent of our communities without electricity would be covered by the end of my second term,” he assured Ghanaians. Source: www.energynewsafrica.com
Ghana: It’s Good News–Says IES Boss As He Praises BOST
The Executive Director for Institute for Energy Security (IES), an energy think tank in the Republic of Ghana, Nana Amoasi (VII), has applauded the Edwin Nii Obodai-led management of Bulk Oil Storage and Transportation Company Limited (BOST) for the steps it has taken so far to revive the company’s abandoned assets.
Edwin Nii Obodai Provencal was appointed the Managing Director of the state company in August 2019, to replace George Mensah Okley who resigned from his post.
At the time he assumed office, BOST’s assets, such as pipeline infrastructure, storage tanks, barges, tagboats and other vital installations, had been abandoned for years without repairs.
Besides, BOST was saddled with huge legacy debts which date back under the National Democratic Congress’ administration.
However, barely a year and half when the current MD had been in the helm of affairs, the sordid state of BOST has seen an improvement.
Speaking to energynewsafrica.com in an interview after a presentation by the Managing Director of BOST, Edwin Provencal, to some selected Civil Society Organisations (CSOs), Nana Amoasi VII said, “Looking at the presentation from BOST management today, they give an account of the revenue that has come in from an increment in their BOST Margin, and how they have expended this money as it has been shown has gone into repair of tanks. Some of the tanks were in a bad shape. We have seen the money go into the revival of pipelines infrastructure or network that were not working, for example Buipe to Bolga pipeline are being down since early 2017 and now is up because of the support CSOs gave to BOST to be given an increment in their Margin. We have also seen Tema-Akosombo Pipeline Project also 100 percent completed, according to the management and we’re yet to go to the field to confirm and if it’s true, then, we will say BOST has done well.
BOST had successfully repaired six out of the 15 storage tanks at APD, Buipe and Bolga, which were abandoned have now been repaired and are currently being in use.
“The Buipe-Bolgatanga Petroleum Product Pipeline (B2P3) had also been repaired and currently in use while repair works on the 6’’ Tema-Akosombo pipeline has just been completed.
“There is also repairing and spraying of barges and tagboats and extension of 8″ pipeline to the oil jetty, supply and installation of mass flow meters, fixing of pumps and loading arms, remedial works on 18″ CBM pipeline and commencement of Front End Engineering Design (FEED) for Accra -Kumasi pipeline.”
The IES boss said “this is good news we’re getting from BOST, but Civil Society will go to the field and confirm same and if it’s true that we’re having these on the ground, then, its good news for Ghanaians.”
On the revenue performance of the various departments of company, the Terminal Department recorded GHS48 million revenue in 2020 as compared to GHS45 million in 2019, representing seven percent.
The volume of products sold in sold in 2020 was 685,000 metric tonnes as compared to 652,000 metric tonnes representing five percent jump.
The Transmission Department also raked in GHS7 million in 2020 as compared to GHS2.9 million representing 141 percent with the volume of product skyrocketing to 23,224 metric tonnes in 2020 while 2,200 metric tonnes was sold in 2019, representing 1,057 percent.
Interestingly, the Fuel Trade Department made GHS 600,000 losses in 2019. However, in 2020 it made GHS26 million in profit, representing 4,348 percent after trading 150,000 metric tonnes of fuel compared to 77,000 metric tonnes in 2019.
Commenting on the trade profit of GHS 26 million for last year, Nana Amoasi VII described it as a very high performance saying, “It’s good to see bad performance in 2019 changed to a good revenue flow in 2020.”
According to him, CSOs are yet to see how BOST would ensure efficiency in their depots in order to attract business from third parties so that their assets become utilised.
“They should ensure that they have a good system where product coming into their system is fluid moving out from the primary depot being Accra Plains Depot (APD) is also fluid and efficient that is where BDC’s and other companies would want to do more business with them,” he advised.
Source: www.energynewsafrica.com
Ethiopia: Siemens Gamesa Seals Its First Wind Farm Project To Expand Its Leadership In Africa
Siemens Gamesa has signed its first wind power project in Ethiopia with state-owned electricity company, Ethiopian Electric Power (EEP), strengthening its leadership in Africa as the country begins to expand its green energy capacity to meet ambitious renewable targets.
The 100 MW Assela wind farm will be located between the towns of Adama and Assela, approximately 150 km south of the capital, Addis Ababa, and will contribute to clean and affordable power for the country’s electricity grid.
The country has set an ambitious target to supply 100% of its domestic energy demand through renewable energy by 2030.
According to the African Development Bank, Ethiopia has abundant resources, particularly wind with a potential 10 GW of installation capacity and having installed 324 MW at present.
“Siemens Gamesa is intent on expanding its leadership across Africa, and in turn help a growing transition to green energy across the continent. So, we are extremely pleased to begin work in Ethiopia and look forward to collaborating with both EEP and the country to continue to promote their drive to install more renewables and meet transformational energy targets,” said Roberto Sabalza, CEO for Onshore Southern Europe and Africa at Siemens Gamesa.
According to a Wood Mackenzie forecast, around 2 GW of wind power would be installed in Ethiopia by 2029.
The wind farm will be made up of 29 SG 3.4-132 wind turbines and is expected to be commissioned by the start of 2023. The project will generate about 300,000 MWh per year. Siemens Gamesa will provide full engineering, procurement, and turnkey construction.
Ghana Will Achieve 10% Renewable Energy Target By 2030-President Akufo-AddoThe Assela wind project will be financed by the Danish Ministry of Foreign Affairs via Danida Business Finance (DBF) adding to a loan agreement signed between the Ethiopian Ministry of Finance and Economic Cooperation (MoFEC) and Danske Bank A/S. Ethiopia has many renewable resources covering wind, solar, geothermal, and biomass, and the country aspires to be a power hub and the battery for the Horn of Africa. The country’s National Electrification Program, launched in 2017, outlines a plan to reach universal access by 2025 with the help of off-grid solutions for 35% of the population. Siemens Gamesa is among the global leaders in the wind power industry, with a strong presence in all facets of the renewable energy business: offshore, onshore, and services. With more than 107 GW installed worldwide; Siemens Gamesa is an ideal partner for Ethiopia at this critical juncture in the East African nation’s accelerating energy journey.
Nigeria: Electricity Tariff Increment Pure Wickedness-PowerUp Initiative Boss
The Executive Director for PowerUp Initiative For Electricity Rights in the Republic of Nigeria, Adetayo Adegbemle, has lashed out at Buhari-administration for increasing cost of electricity despite intermittent power supply in the West African nation.
NERC, in an order (NERC/225/2020) signed by its Chairman, Sanusi Garba, and Commissioner Legal, Licensing and Compliance, Dafe Akpeneye, on December 31, 2020, said the new tariff order took effect January 1, 2021, and will exist until a new order is made.
Per the order, tariff for customers in Band A (minimum supply of 20hrs daily) will increase by N6.85 to N69.18/kwh, a 10.98 percent rise.
Also from July 1, tariff for customers in Band B (minimum supply of 16hrs daily) will increase by 13.1 percent (N7.65) to N66.04/kwh from the present N58.9/kwh.
For customers in Band C (minimum supply of 12hrs daily), the increase is 29.13 percent (N14.19) to N62.92/kwh).
The highest tariff increase will be for consumers in Band D (minimum supply of 8hrs daily) with 121.5 percent (N32.79) hike to N55.76/kwh from N26.97/kwh.
NERC explained that the review was necessary following changes in inflation rate, foreign exchange rate, available generation, gas price, collection losses from ministries, departments and agencies of government, and Capex adjustments.
However, reacting to this, Mr Adetayo Adegbemle minced no words describing it as pure wickedness. “We are not doing any Press Statement on this Tariff Increment. We have been making it all the time Nigerians now need to own their own fight…but this tariff increase is wickedness,’’ he said on twitter as sighted by energynewsafrica.com. Source: www.energynewsafrica.comWe are not doing any Press Statement on this Tariff Increment
— Adetayo Adegbemle (@gbemle) January 5, 2021
We have been making it all the time
Nigerians now need to own their own fight…
But this tariff Increase is wickedness
India: Gov’t Not In A Hurry To Seek U.S Nod For Oil Supplies From Iran, Venezuela
India may not push for resumption of oil supplies from sanction-hit Iran and Venezuela once the Joe Biden administration take charge in the US but would rather wait for it to clear its stand on the issue before making a case for exemptions.
Sources privy to the development said that with oil market globally turning into a buyer’s market amid oversupplies and Covid-19 related demand destruction, India sees no point in immediately seeking exemption from sanctions but would rather wait for an opportune time to make its case.
As a big importer of oil, India wants to have a diversified market for crude and in this if traditional market like Iran and Venezuela is revived, it would only be for good. But the Covid-19 related disruptions have affected oil demand globally and producers are saddled with inventories that they are willing to liquidate at attractive pricing. This has converted oil from sellers’ to a buyers’ markets giving ample ammunition to oil importers to get requisite quantities on time at very attractive pricing.
Iran was India’s second largest oil supplier till sanctions by the West over Islamic country’s alleged nuclear programme cut oil supplies.
India stopped crude oil supplies from Iran altogether from May 2019 following re-imposition of US sanctions.
Venezuela, on the other hand, was the fourth largest crude supplier to India before US sanctions in January 2019 on the state-run companies there reduced their oil exports.
For India, a wider crude oil import basket works to its advantage at its protection against supply disruptions in one of the countries. It also helps on getting better supply deals.
India imports 85 per cent of its oil needs and its dependence on oil expected to remain firm for at least next couple of decades. Energy consumption here is expected to grow by 3 per cent annually till 2040, much higher than any other energy guzzling country.
Somalia: Opposition Party Suspects Government Will Sign Secret Oil Deals
Members of the opposition in Somalia warned this week that the country’s federal government is about to sign a secret petroleum exploration and drilling agreement with two foreign companies a month before its term in office expires, which would “pose a great danger” to the future of Somalia and its natural resources.
The opposition has received information that Somalia’s Ministry of Petroleum and Mineral Resources would sign the secret deal in the coming days, Abdirahman Abdishakur Warsame, the leader of the opposition Wadajir Party, said in a letter to the top officials in Somalia posted on Twitter.
“On 5 June 2018, the Federal Government of Somalia and Federal Member states signed an agreement on sharing of natural resources in Baidoa, which states that any agreement on the drilling, exploration or search for oil in the country must be transparent, thoroughly debated, evaluated and agreed upon, and finally approved by the House of the People of the Federal Republic of Somalia, before it is signed,” the letter reads.
The Council of Presidential Candidates (CPC) in Somalia strongly opposes the secret deal between Coastline Exploration Inc and Liberty Petroleum Corporation on oil block deals, Warsame said on Twitter.
“Any agreement on the drilling for oil must be transparent, thoroughly debated, evaluated, agreed upon & approved by the Parliament, before it is signed,” he added. The secret agreement would be signed just a month before the current government’s term in office ends, the opposition says in the letter, noting that this timing of an oil deal “creates strong suspicions.”The CPC strongly oppose the secret deal btw FGS & Coastline Exploration Inc & Liberty Petroleum Corporation on oil block deals. Any agreement on the drilling for oil must be transparent, thoroughly debated, evaluated, agreed upon & approved by the Parliament, before it is signed. pic.twitter.com/lij9hMeEnU
— Abdirahman Abdishakur (@AAbdishakur) January 4, 2021
Ghana: ECG Releases Guidelines For Three Months’ Free Electricity
Ghana’s southern power distribution company, ECG, has outlined a time table to extend the free electricity to lifeline consumers from January to March this year.
This is part of the Covid-19 relief package announced by President Akufo-Addo last Sunday, January 3, 2021, to cushion lifeline consumers in the West African nation for the next three months.
Lifeline consumers are those who consumes between 0-50kWh of electricity.
Touching on how they want to implement the relief, ECG said lifeline users on both prepaid and post- paid meter systems would continue to benefit from the GoG’s relief as stated.
The company explained that lifeline smart prepaid consumers would be automatically credited with their lifeline units for January, February and March.
Ghana: PURC Launches Investigation Into Prepaid Meter Irregularities Faced By ECG Customers“Consumers on non- smart prepaid meters will have swipe or insert their free line lifeline units for January, February and March,” the company stated. ECG further noted that consumers on non-prepaid meters will have to swipe or insert their cards in in their meters before they visit their vending points to recharge, in order to receive their free units for each month. With reference to lifeline postpaid consumers, the implementation guideline observed that their January, February and March 2021 would indicate the GoG absorption of their lifeline consumption. “Management wishes to assure lifeline consumers and stakeholders that it is resolved to implement this directive to the letter. Consumers are advised to contact ECG District offices with any challenge for a resolution,” the Southern Power Distribution company assured Ghanaians.
Ghana: Supreme Court Quashes High Court Orders Restraining Swearing-In Of Energy Minister As MP-elect For Hohoe
Ghana’s Supreme Court has, in a unanimous decision, quashed the orders made by a High Court in Ho in the Volta Region, placing an interim injunction on the gazetting and swearing-in of Member of Parliament-elect for the Hohoe constituency and Minister for Energy, John Peter Amewu.
The High Court, presided over by Justice George Boadi, on December 23, 2020, granted an injunction after some residents of Santrokofi, Akpafu, Likpe and Lolobi (SALL) argued that their inability to vote in the just ended parliamentary election amounted to a breach of their rights.
The five-member panel of Ghana’s Apex Court, presided over by Justice Yaw Appau, in granting the application, said the interested parties did not say anything for the justification of the orders of the injunction that was granted.
The court said the Energy Minister had nothing to do with the denial of the Electoral Commission (EC) not to allow the people of Santrofi, Akpafu, Likpe and Lolobi (SALL) to vote.
The court said Mr Peter Amewu is not an official of the Electoral Commission but only presented himself up for a contest and won.
The court further said the interim injunction granted was for 10 days and had long elapsed on January 2, 2021, before the decision of the court.
Nigeria: Court Rejects EFCC’s Exhibit In Trial Of Ex-NNPC GMD, Andrew YakubuThe interim injunction was, therefore, quashed. But the panel unanimously declined the AG’s request seeking an order to prohibit the High Court of Justice George Boadi from further hearing or conducting proceedings in the said suit. Background The Ho High Court on December 23, 2020, presided over by Justice George Buadi granted an interim injunction restraining the Electoral Commission from gazetting Mr Amewu as the MP for Hohoe. This followed an ex-parte application filed by residents of the Guan District, who were not given the opportunity to vote in the December 7 parliamentary election. They said the creation of the Oti Region, coupled with a recent Supreme Court decision and failure of the EC to create a constituency for them, meant they did not vote for a parliamentary candidate in the just ended election. But the state, through a Deputy Attorney General, Godfred Dame filed a motion at the Supreme Court to fight the injunction placed on Mr Amewu by the Ho High Court. The Deputy Attorney General argued that the High Court, in exercising its human rights oversight, had no jurisdiction to grant the injunction as the SALL residents did not go through the proper procedure. It is the case of the state that John Peter Amewu’s victory in the Hohoe parliamentary election was gazetted a day before the residents of SALL went to the High Court to place an injunction on the process.
Nigeria: NERC Approves New Tariff Increase For IBEDC In Minor Review
The Nigerian Electricity Regulatory Commission (NERC) has approved a minor review of electricity tariff for Ibadan Electricity Distribution Company (IBEDC), increasing electricity cost for consumers under the franchise area.
IBEDC franchise area includes Oyo, Ogun, Osun, Kwara and parts of Niger, Ekiti and Kogi states.
According to the Vanguard, NERC in an order (NERC/225/2020) signed by its Chairman, Sanusi Garba and Commissioner Legal, Licensing and Compliance, Dafe Akpeneye on December 31, 2020, said the new tariff order took effect January 1, 2021 and will exist until a new order is made.
Per the order, tariff for customers in Band A (minimum supply of 20hrs daily) will increase by N6.85 to N69.18/kwh, a 10.98 percent rise.
Also from July 1, tariff for customers in Band B (minimum supply of 16hrs daily) will increase by 13.1 percent (N7.65) to N66.04/kwh from the present N58.9/kwh.
For customers in Band C (minimum supply of 12hrs daily), the increase is 29.13 percent (N14.19) to N62.92/kwh). The highest tariff increase will be for consumers in Band D (minimum supply of 8hrs daily) with 121.5 percent (N32.79) hike to N55.76/kwh from N26.97/kwh.
NERC explained that the review was necessary following changes in inflation rate, foreign exchange rate, available generation, gas price, collection losses from ministries, departments and agencies of government, and Capex adjustments.
On service improvement by the utility, NERC ordered that “IBEDC shall be liable for service improvements in accordance with commitments under its universal service obligations for providing electricity supply to customers.
“Subsequent retroactive review of IBEDC’s tariffs during Minor Tariff Reviews shall be based on the IBEDC’s MYTO load allocation of the grid total energy delivered to all DisCos in line with the vesting contract executed by IBEDC and NBET”.
The commission added that “where there is a failure to deliver on committed service level by IBEDC as measured over a period of 60 days, rates payable by all customers in the affected load cluster shall be retroactively adjusted in line with the quality of service delivered over the same period, upon verification by the Commission”.
Future Energy Systems Need Clear AI Boundaries (Opinion)
Today, almost 60% of people worldwide have access to the Internet via an ever-increasing number of electronic devices. And as Internet usage grows, so does data generation.
Data keeps growing at unprecedented rates, increasingly exceeding the abilities of any human being to analyse it and discover its underlying structures.
Yet data is knowledge. This is where artificial intelligence (AI) comes in. Today’s high-speed computing systems can “learn” from experience and, thus, effectively replicate human decision-making.
Besides holding its own among global chess champions, AI aids in converting unstructured data into actionable knowledge. At the same time, it enables the creation of even more insightful AI – a win-win for all. However, this doesn’t happen without challenges along the way.
Commercial uses of AI have expanded steadily in recent years across finance, healthcare, education and other sectors. Now, with COVID-19 lockdowns and travel restrictions, many countries have turned to innovative technologies to halt the spread of the virus.
The pandemic, therefore, has further accelerated the global AI expansion trend.
Energy systems need AI, too.
Rapidly evolving smart technology is helping to make power generation and distribution more efficient and sustainable. AI and the Big Data that drives it have become an absolute necessity. Beyond just facilitating and optimising, these are now the basic tools for fast, smart decision making.
With the accelerating shift to renewable power sources, AI can help to reduce operating costs and boost efficiency. Crucially, AI-driven “smart grids” can manage variable supply, helping to maximise the use of solar and wind power.
Risks Must Be Managed To Maximise The Benefits.
AI usage in the energy sector faces expertise-related and financial constraints.
Decision makers, lacking specialised knowledge, struggle to appreciate the wide-ranging benefits of smart system management. In this respect, energy leaders have proven more conservative than those in other sectors, such as healthcare.
Meanwhile, installing powerful AI tools without prior experience brings considerable risks. Data loss, poor customisation, system failures, unauthorised access – all these errors can bring enormous costs.
Yet like it or not, interconnected devices are on the rise.
What Does This All Mean For The Average Consumer?
Smart phones, smart meters and smart plugs, connected thermostats, boilers and smart charging stations have become familiar, everyday items. Together, such devices can form the modern “smart home”, ideally powered by rooftop solar panels.
AI can help all of us, the world’s energy consumers, become prosumers, producing and storing our own energy and interacting actively with the wider market. Our data-driven devices, in turn, will spawn more data, which helps to scale up renewables and maximise system efficiency.
But home data collection raises privacy concerns. Consumers must be clearly informed about how their data is used, and by whom. Data security must be guaranteed. Consumer privacy regulations must be defined and followed, with cybersecurity protocols in place to prevent data theft.
Is The Future Of AI Applications In Energy Bright?
Indeed, the outlook is glowing, but only if policy makers and societies strike the right balance between innovation and risk to ensure a healthy, smart and sustainable future.
Much about AI remains to be learned. As its use inevitably expands in the energy sector, it cannot be allowed to work for the benefit of only a few. Clear strategies need to be put in place to manage the AI use for the good of all.
Souce: Daria Bierla Gazzola, Digital Communications Officer
IRENA
Russia’s Annual Oil Production Drops For The First Time Since 2008
Due to the OPEC+ production cut deal and the decreased demand in the pandemic, Russia’s crude oil and condensate production fell in 2020 for the first time since the 2008 financial crisis as well as the slump in oil prices, according to government statistics.
Russia’s annualized oil production declined by 8.6 percent to 10.27 million barrels per day (bpd) in 2020, down from a record-high in 2019, data from the energy ministry cited by Russian news agency Interfax showed.
According to Reuters estimates, the 2020 oil production dropped for the first time year over year since the 2008 recession and was at its lowest level since 2011.
The decline in Russia’s oil production was not unexpected, considering the demand crash and the new pact that the OPEC+ alliance forged in April for steep proportionate production cuts.
Russia and Saudi Arabia, the leaders of the OPEC+ pact, had to cut the most under the new agreement after failing in early March 2020 to initially find common ground on how to react to the oil price and oil demand collapse.
The drop in Russia’s oil production in 2020 comes after two consecutive years of production records in Russia’s post-Soviet history.
In 2019, crude oil and condensate production in Russia hit a record high for the post-Soviet era, despite Moscow’s key role in supporting the production cuts of the OPEC+ coalition.
According to figures from Russia’s energy ministry, Russia pumped 11.25 million bpd of crude oil and condensate in 2019—up from 11.16 million bpd in 2018, which was the previous production record in Russia’s post-Soviet era.
Covid-19 Pandemic: Economic Recovery Not Assured In 2021-Energy ExpertAs of January 2021, Russia should be boosting its production by 125,000 bpd after the OPEC+ group decided in December to ease the collective cut by 500,000 bpd. The ministers of the group are meeting at the time of writing early on Monday to discuss the production policy in February, with Russia reportedly favouring another 500,000bpd increase in the alliance’s production from next month. Source: Oilprice.com