SAUDI'S RENEWABLE: 9.5 GW
REUTERS - Top oil exporter Saudi Arabia plans to generate 9.5 gigawatts of electricity from renewable energy by 2030, it said as it approved its Vision 2030 reform plan.
The plan, a package of economic and social policies is designed to free the kingdom from dependence on oil exports.
"Even though we have an impressive natural potential for solar and wind power, and our local energy consumption will increase threefold by 2030, we still lack a competitive renewable sector at present."
"To build up the sector, we have set ourselves an initial target of generating 9.5 gigawatts of renewable energy," according to a text of the vision on state news agency SPA.
In 2012, the world's top oil exporter said it would install 17 gigawatts of nuclear power by 2032 as well as around 41 GW of solar capacity.
Last year, the president of the King Abdullah City for Atomic and Renewable Energy, the government department responsible for the program, said the outlook has been revised to focus on 2040 as the major milestone for long-term energy planning in Saudi Arabia.
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LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.
BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.
REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.
ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.