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Energynewsmonitor ENERGY NEWS MONITOR Energy News [GOOD] Coal should remain dominant source of power in India as long as the world remains under the power of predatory [UGLY] and unforgiving economic competition! Page 15 The growth rates of [BAD] subsidies for solar projects exceed the Unless the new tariff policy confers the right to high quality growth rates of supply on the consumer it cannot confer the right to high solar power tariff on the supplier! generation! Page 15 Page 25 [WEEK IN REVIEW]……………………... [NATIONAL: OIL & GAS]……………………… [NATIONAL: POWER]……………………… [INTERNATIONAL: OIL & GAS]……………………… [INTERNATIONAL: POWER]……………………… ANALYSIS / DATA Volume XI I 29 January 2016 ISSUES INSIGHT Issue 33 [JANUARY 2016: THE LONG SHADOW OF FALLING OIL PRICES] [RENEWABLE “When it comes to oil, no net oil importing country, ENERGY / including the United States allows the export of oil for strategic reasons. CLIMATE India cannot be expected to be an exception to this rule as domestic production meets less than a third of oil demand. The prospect of revenue CHANGE generation will not trump national security concerns…” TRENDS] ORFOBSERVER Centre for Resources Management RESEARCH 1 FOUNDATION 20 – 26 January 2016 14th Petro India 2016 Conference Oil Price Volatility: Consequences & Policy Responses Tentative Programme Highlights Hotel Shangri La, New Delhi Tuesday, February 2, 2016 0830 – 0930 Hrs: Registration & Tea 0930 – 1100 Hrs: INAUGURAL SESSION 1100 – 1245 Hrs SESSION 1: UPSTREAM Domestic Policy & Investments – Overseas Equity & Assets 1245 – 1330 Hrs: Lunch 1330 – 1500 Hrs SESSION 2: DOWNSTREAM Retailing & Refining 1500 – 1515 Hrs: Tea Break 1515– 1700 Hrs SESSION 3: NATURAL GAS LNG Terminal Infrastructure and Pricing 1700 – 1800 Hrs: VALEDICTORY SESSION Registration Details: REGISTER NOW! Registration forms & information brochure will be available at www.orfonline.org or www.indiaenergyforum.org. For Sponsorship Opportunities & other details please refer the Brochure. HELP DESK Mr. Akhilesh Sati Observer Research Foundation, 20, Rouse Avenue, New Delhi- 110 002 Tel: 011-4352 0020 Extn. 2102, Fax: 011-4352 0003 [email protected] ORF Centre for Resources Management 2 20 – 26 January 2016 CONTENTS INSIGHT…… [NATIONAL: POWER] [WEEK IN REVIEW] Generation……………… Unit 2 of Kudankulam Nuclear plant to be COMMENTS………………….. commissioned shortly Reliance Power seeks to exit Krishnapatnam project January 2016: The Long Shadow of Falling Oil Prices NTPC asked to shift Kayamkulam plant to other location UPCOMING EVENT……......... Adani may buy L&T's Punjab power plant 14th Petro India 2016 Conference Transmission / Distribution / DATA INSIGHT……………… Trade…… India’s Declining Coal Imports and Increasing Coal Reallocation of power to Telangana to provide relief to Production Delhi consumers KPTL bags orders worth ` 12.9 bn ORF INDIA OIL SECURITY RISK EESL to distribute energy efficient fans at ` 995 per piece INDEX………………………… Policy / Performance………………… Indian basket oil price stays below $30 per barrel Govt asks CIL to meet 550 mt target for current fiscal [NATIONAL: OIL & GAS] EDF signs preliminary deal to build six nuclear plants in India Upstream………………………… CESU seeks hike in power tariff LED bulbs procurement price falls 10 percent more to ` ONGC gets green nod for ` 530 bn KG basin infra 64.41 per unit project Coal to remain dominant fuel for India's power sector Cairn India bets big on Rajasthan Cabinet nod for power tariff policy RIL may start coal gas production in MP shortly Indian Power sector at turning point: WEF CIL to adopt ERP system Downstream…………………………… HPCL, GAIL likely to take equal stake in JV to build ` [INTERNATIONAL: OIL & GAS] 300 bn petrochemicals complex in AP Paradip Refinery to boost IOC net profit by 30 percent Upstream…………………… Indian state oil refiners plan 1.2 mn bpd plant on west coast Lukoil signs oil exploration agreement with Iran CNPC, Chevron commence production at Transportation / Trade……………… Chuandongbei Gas Project in Sichuan Brazil oil rules block $120 bn in investment Adani-IOC, GAIL, Gujarat Gas vie for CNG licence Schlumberger sees no pickup in oilfield activity before IOC doubles crude oil buy from Nigeria on term 2017 contract Woodside sees up to $1.2 bn in writedowns amid oil rout Policy / Performance………………… Citigroup cuts 2016 Brent crude oil forecast to $40 per barrel NGT orders inspection of petrol pumps across Delhi- NCR Downstream…………………… Oil Ministry plans new LPG connections on EMIs Moody's places ONGC, Oil India on review for Iran signs oil deal with European refiner as sanctions downgrade end Oil Minister pitches for priority lending to boost ERC to start output at country's largest refinery in Q1 ethanol output 2017 Africa to be major energy source for India: Oil Minister Russia's Novokuibyshev oil refinery halts CDU ORF Centre for Resources Management 3 20 – 26 January 2016 Transportation / Trade………… [RENEWABLE ENERGY / Dutch gas exports cannot be cut before 2024: Economy Minister CLIMATE CHANGE TRENDS] AfDB lends €49 mn for gas distribution in north- western Tunisia NATIONAL………… Taiwan to expand oil imports from Iran as sanctions gone AP set to complete phase I of green energy corridor China to grant four non-major crude oil refineries Solar panels for 10k houses cleared in Tamil Nadu import licences India's 1st solar mission to help address some problems Russian gas exports to Germany via Nord Stream rise in solar physics 10 percent in 2015 India, France to work towards implementation of Greece to restart crude oil purchases from Iran CoP21 goals Mitsubishi bolsters American LNG link with gas Jakson Group eyes ` 10 bn revenue from solar biz in marketer purchase FY17 Nigeria's NNPC shuts refineries after pipeline attacks India submits first BUR to UNFCCC Govt to soon launch new policy for solar zones Policy / Performance……………… Maharashtra govt to unveil off grid policy, big push to solar energy Standard & Poor's downgrades Asia-Pacific energy JBM Solar to commission power plant in Haryana by firms as oil prices tumble April World Bank slashes 2016 oil price forecast Govt approves ` 50.5 bn funding to push solar projects Hess to cut capital spending 40 percent on low oil, gas NLC invites global firms for solar power projects prices China's NDRC introduces new oil pricing mechanism GLOBAL……………… Saudi Arabia presents plan to move beyond oil Russia to prepare for hedging against oil price risk: Alberta will introduce a net-metering scheme for solar Finance Ministry New York Governor pledges $5 bn for clean energy OVL, Equatorial Guinea govt sign MoU for oil, gas fund cooperation China plans to include eight industries in carbon Oil's plunge drags Gazprom's gas price in Europe down trading market by 37 percent Cheap oil seen by EU as good time to cut fossil-fuel subsidies [INTERNATIONAL: POWER] Egypt's EFG Hermes targets renewable energy investments Generation………………… Obama to force oil, gas companies to pare potent methane leaks South Korea's power generation capacity could reach China emissions from coal power likely fell 2 percent in 108 GW in 2016 2015 Dongfang signs EPC agreement for 2 GW USC coal- 'Great Green Fleet' using biofuels deployed by US Navy fired project in Egypt Iran's sanctions relief opens way for bigger pollution Slight increase in Italian power generation in 2015 cuts ACWA Power will invest in 1.2 GW Nam Dinh 1 power Gulf countries savings put at $87 bn with renewable project in Vietnam energy Chile upholds approval of Cuervo 640 MW hydropower project Transmission / Distribution / Trade…… Chubu Electric and INPEX will supply power around Tokyo Policy / Performance……………… Pakistan to set up first mega nuclear power plant Iran to build $11 bn nuclear power plants China to allocate $4.6 bn to shut 4,300 coal mines ORF Centre for Resources Management 4 20 – 26 January 2016 [WEEK IN REVIEW] COMMENTS……………… India monthly energy briefing January 2016: The Long Shadow of Falling Oil Prices Lydia Powell and Ashish Gupta, Observer Research Foundation Climate Change he fall in oil prices along with the economic uncertainty over China appeared to be killing the euphoria over T the Paris Agreement rather prematurely in January. There was very little news on how man had conquered the complex problem of climate change in a 12 page agreement. On the other hand there was news of falling investment in the solar sector and companies such as Suzlon joining the queue for solar give-aways. The French President’s presence at India’s republic day parade made it necessary that the Paris climate pledges are re- affirmed and hopeful sounding promises are made on a solar alliance led by India and France. These are were in line with what the domestic and international audience hoped to hear but whether it will actually make any difference to the course of climate promises is uncertain. A poor economic climate is not necessarily the best climate for implementing climate pledges. Conventional Fuels Oil & Gas The impact of low oil prices on ONGC started making it to the headlines of business newspapers in January. ONGC was reported to reduced capital spending by roughly ` 48 billion and also embarking on sweeping cost cutting measures. The Government for its turn increased excise duty on petrol and diesel to sustain the revenue from petroleum products. The government was also reported to be considering to ease the burden on oil producers. On the other hand news from the downstream players remained positive. IOC was reported to have begun petrol production from its Paradip refinery. HPCL was reported to have got environmental approval for its Vizag refinery. The government also announced plans to add 10,000 new LPG dealers in 2016. While this may improve access to modern cooking fuels outside urban areas, other support schemes may be required to increase access to cooking fuels among poor rural households. Supply may not create its own demand as per Say’s law.
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