Category: Highlights

After a swathe of oil discoveries in offshore Suriname, primarily in Block 58, since the start of January 2020 there was considerable speculation that the former Dutch colony will be the next Guyana. Since the start of 2022, a series of challenging obstacles emerged which are threatening Suriname’s nascent oil boom and its potential to become a leading petroleum producing nation in South America. Analysts originally envisaged that first oil would occur during 2025 and that Suriname will be pumping 650,000 barrels per day a mere five years later. Additional offshore discoveries outside of…

Read More

China has broken ground on a renewable energy project worth an estimated $11 billion in the province of Inner Mongolia. According to a Bloomberg report, the project will have a capacity of 16 GW and produce some 40 billion kWh of electricity to Beijing and the provinces of Tianjin and Hebei. The project will combine solar, wind, and upgraded coal power, and is set to become the largest renewable energy project in a desert region. The Kubuqi Desert, where the project will be located, is already home to a massive solar…

Read More

A Cheshire wind farm developer has threatened to sue the UK government over its plans to impose a ‘windfall tax’ on renewables companies. Community Windpower – which owns 1.5 GW of UK wind generation capacity – has said it will take legal action to block the UK’s Electricity Generator Levy. The temporary tax imposes a 45 percent levy on “exceptional receipts” of more than £10m generated by selling wholseale electricity at average prices exceeding £75 per MWh. Community Windpower has instructed London law firm Mishcon de Reya in its bid…

Read More

Russian Energy Minister Alexander Novak said active work is underway for the establishment of the gas hub in Türkiye. ‘Currently, active work is underway with the countries that will participate in the implementation of this project, as well as with consumers in need of Russian gas,’ Novak said in an interview with the Russian state-run TASS agency on Monday. The European gas market remains ‘relevant’ for Russia, and there are means for delivering additional volumes there, including through the Yamal-Europe pipeline, closed ‘based on political motives,’ the minister added. The…

Read More

When a senior government minister of either Iran or Russia says that the two countries are now experiencing a ‘golden age’ in developing relations between them then it’s a pretty safe bet that one or more countries somewhere are going to be in serious trouble pretty soon. Iranian Petroleum Minister, Javad Owji’s, comment was echoed by senior Russian officials, which makes matters much worse for everyone else, as did his additional statement that the authorities of the two countries are “determined to strengthen cooperation in all sectors”. Aside from the…

Read More