Weekly Energy News Roundup - 19th August 2022
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Welcome to the Energy Jobline weekly news roundup of all the top stories this week ending August 19th 2022, across all sectors of our industry. Please?+SUBSCRIBE?to our LinkedIn newsletter 'Energy Newsline' to receive a notification every time we publish new content.
OIL AND GAS NEWS
Russia sees 38% rise in energy export earnings this year
Russia is expected to pocket $337.5bn this year on energy exports alone, according to an economy ministry document seen by Reuters news agency.
Higher oil export volumes, coupled with rising petrol prices, will boost Russia’s earnings from energy exports to $337.5bn this year, a 38 percent rise from 2021, according to an economy ministry document seen by Reuters news agency.
The jump in revenues, if it materialises, will help shore up?Russia’s economy in the face of waves of?Western sanctions. But the boom in energy earnings only partly compensates for the damage from sanctions to the economy overall, analysts said.
Janis Kluge, German Institute for International and Security Affairs
"The impact of sanctions on?Russia’s economy is very uneven. In some sectors, it has been catastrophic, such as the car industry. The?oil?sector is relatively unscathed for now."
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Saudi Aramco confirms phased development plan for vast $100 billion gas project
Saudi Aramco has confirmed a phased development approach for its $100 billion-plus Jafurah unconventional onshore gas project, which is expected to produce up to 2 billion cubic feet per day of gas by 2030.
The Saudi Arabian state-owned giant, while reporting its second-quarter results on Sunday, said the first development phase for the Jafurah gas plant is likely to come on stream by 2025.
Aramco said it is progressing with the phased development of a project that will reach a raw gas processing capacity of 3.1 Bcf.
“The facility for the gas plant will come in two phases. The first phase would come in 2025. And the second phase will come on stream by 2027,” Aramco chief executive Amin Nasser said.
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#WOMENINENERGY AND ENGINEERING - WE NEED YOUR INSIGHTS!
Energy Jobline?and?NES Fircroft, supported by?POWERful Women?have just launched the 'Women in Energy Survey 2022'.
?? The annual survey investigates key topics within the gender diversity movement, and aims to uncover insights that will allow energy firms to successfully attract and retain women in energy, helping companies to navigate the employment landscape by focusing on their strongest asset: people.
?? The results will be published in the 4th annual edition of the 'Women in Energy Global Study' which will launch on November 3rd at the ADIPEC Exhibition and Conference 2022, UAE.
3 MINUTE COMPLETION TIME
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#RENEWABLE ENERGY NEWS
‘Friction in the system’: the problem with Biden’s $369bn clean energy push
The landmark US climate, tax and spending law signed by president Joe Biden on Tuesday holds potential to spark an explosion of new renewable power projects across the country. Clean-energy executives, climate advocates and scholars have praised it, saying it is the first serious legislative attempt to tackle emissions that fuel global warming.
But a host of obstacles may stand in the way. They range from tariffs and import controls that are driving up the cost of solar panels to state land-use laws over which the federal government has no control.
The new law was “absolutely game changing”, said Jos Shaver, chief investment officer at Electron Capital Partners, a renewables-focused asset manager with $2.8bn under management. “[But] it’s an energy transition, not an energy switch. It’s not going to happen overnight and there’s going to be a lot of bumps in the road.”
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Europe is seriously considering a major investment in space-based solar power
Europe is seriously considering developing space-based solar power to increase its energy independence and reduce greenhouse gas emissions, the leader of the European Space Agency said this week.
"It will be up to Europe, ESA and its Member States to push the envelope of technology to solve one of the most pressing problems for people on Earth of this generation,"?said?Josef Aschbacher, director general of the space agency, an intergovernmental organization of 22 member states.
In concept, space-based solar power is fairly straightforward. Satellites orbiting well above Earth's atmosphere collect solar energy and convert it into current; this energy is then beamed back to Earth via microwaves, where they are captured by photovoltaic cells or antennas and converted into electricity for residential or industrial use. The primary benefits of gathering solar power from space, rather than on the ground, is that there is no night or clouds to interfere with collection; and the solar incidence is much higher than at the northern latitudes of the European continent.
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领英推荐
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#NUCLEAR NEWS
Russia warns radioactive waste could hit Germany if accident occurs at damaged nuclear power plant
Russia’s Ministry of Defense warned Thursday that if an accident occurs at the nuclear power plant it is occupying in southern Ukraine, radioactive material would cover Germany, Poland and Slovakia.
Igor Kirillov, head of Russia’s radioactive, chemical and biological defense forces, said the plant’s backup support systems had been damaged as a result of shelling, Reuters reported, and that several countries in Europe could be at risk if there was an accident.
Russia’s Defense Ministry said Thursday that it may shut down the nuclear plant if Ukrainian forces continued to shell the facility. Ukraine denies shelling the plant and instead blames Russia for endangering the facility, saying it is storing ammunition and military equipment there.
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ENERGY JOBS & FEATURED RECRUITERS -?#HIRING?NOW
This weeks Energy Jobline featured recruiter is:
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PETROPLAN JOBS #HIRING?NOW IN THE UK:
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ReNew Power claims India’s ‘biggest ever’ finance deal made for battery-backed renewable energy project
US$1 billion financing has been secured for a ‘Round-The-Clock’ (RTC) renewable energy project in India, marking the biggest single-project clean energy deal in the country, developer ReNew Power has claimed.
Renewables-focused independent power producer (IPP) ReNew Power said yesterday that it has reached agreement on a project finance loan with 12 different international lenders for the 1,300MW mixed technology project.
Anticipated to include 900MW of wind and 400MW of solar PV deployed across regions in three Indian states: Karnataka, Rajasthan and Maharastra, the inclusion of battery energy storage system (BESS) technology is designed to make the energy dispatchable 24/7 throughout the year.
This means it can be competitive technologically to thermal energy sources like coal to provide baseload energy, the IPP claimed.?
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WOMEN IN ENERGY AND ENGINEERING - WE NEED YOUR INSIGHTS!
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