WNN - The United States, Canada, and Japan are launching the Nuclear Innovation: Clean Energy (NICE) Future Initiative. This global effort will make sure nuclear has a seat at the table during discussions about innovation and advanced clean energy systems of the future.
EIA - Iran holds the world’s fourth-largest proved crude oil reserves and the world’s second-largest natural gas reserves. Despite its abundant reserves, Iran’s crude oil production has undergone years of underinvestment and effects of international sanctions. Natural gas production has expanded, the growth has been lower than expected. Since the lifting of sanctions that targeted Iran’s oil sector, oil production has reached more than 3.8 million barrels per day in 2017.
IEA - Global energy demand rose by 2.1% in 2017, more than twice the previous year’s rate, boosted by strong global economic growth, with oil, gas and coal meeting most of the increase in demand for energy, and renewables seeing impressive gains.
IAEA - “Nuclear technology helps countries to produce more food, generate more electricity, treat diseases such as cancer, manage water supplies, protect the seas and oceans and respond to climate change — and much more,”
FT - The loans bring total Chinese energy finance in Africa since 2000 to $34.8bn. While this is well behind the $69bn lent in Europe and Central Asia, the $62bn in Latin America and the $60bn in Asia over the same period, the 2017 data illustrate Africa’s growing importance.
EIA - South Africa is one of the world’s leading emitters of energy-related carbon dioxide (CO2), ranking fifteenth globally in 2015 and accounting for more than any other country in Africa. In an effort to reduce CO2 emissions, South Africa is planning to diversify its energy portfolio, replacing coal with lower CO2-emitting fuels such as natural gas and renewable sources. The country’s Intended National Determined Contribution, submitted as part of the Paris Agreement, plans for CO2 emissions to peak by 2025, remain flat for a decade, and begin to decline around 2035.
ROSATOM - Following 2017, a share of electricity production by Russian nuclear power plants has increased up to 18.9%.
ROSATOM - Russian NPPs exceeded the record of 2016 in the volume of generated electricity by increasing cumulative production by more than 6.5 billion kWh, up to 202.868 billion kWh (against 196.366 billion kWh in 2016).
EIA - Brent crude oil prices averaged $54/b in 2017 and are forecast to average $60/b in 2018 and $61/b in 2019. West Texas Intermediate (WTI) crude oil spot prices are forecast to average $4/b less than Brent prices in both 2018 and 2019. EIA’s forecast for the average WTI price for December 2018 of $58/b should be considered in the context of NYMEX contract values for December 2018 delivery. NYMEX contract values traded during the five-day period ending January 4 suggest that a range of $40/b to $85/b encompasses the market expectation for WTI prices in December 2018 at the 95% confidence level.
PLATTS - South Korea aims to boost the portion of LNG in its electricity generation mix to 18.8% in 2030 from an estimated 16.9% this year as part of efforts to reduce its heavy reliance on coal and nuclear, the energy ministry said.
ROSSETI - On the 7th of December the international rating agency Moody`s has raised the long-term credit rating of PJSC "Rossety" to the rank "Ba1" as per international scale with stable prediction. Moreover, the agency has taken a decision on raising the estimation of characteristics of own credit rating of "Rossety" of one rank to "ba1" level.
Cooperation will focus on grid planning, fundamental research, policy coordination, project development and information sharing, according to the deals signed between GEIDCO and the UN Department of Economic and Social Affairs, the UN Economic and Social Commission for Asia and the Pacific, the African Union Commission, the League of Arab States and the grid management bureau with the Cooperation Council for the Arab States of the Gulf.
“Consistent with its robust performance in recent years, once again economic growth in Kenya was solid in 2016, coming in at an estimated 5.9%—a five-year high. This has been supported by a stable macroeconomic environment, low oil prices, earlier favorable harvest, rebound in tourism, strong remittance inflows, and an ambitious public investment drive,” said Diarietou Gaye, World Bank Country Director for Kenya. “Nonetheless, Kenya is currently facing headwinds that are likely to dampen GDP growth in 2017.”
Peak electricity demand has grown nearly 13% over the past two years as a growing middle class seeks new services, such as air conditioning, which continue to place higher demands on the system. Over the next 25 years, energy demand is expected to more than double as a result.
The World Bank’s current portfolio in Vietnam consists of 49 operations, worth a total of 9.5 billion USD supporting infrastructure, agriculture, human development and improvement in economic and financial sector management. Support to infrastructure includes transport, energy, water and sanitation, and irrigation.