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.
|October, 15, 12:30:00|
|October, 15, 12:25:00|
|October, 15, 12:20:00|
|October, 15, 12:15:00|
|October, 15, 12:10:00|
|October, 15, 12:05:00|
GAZPROM - The parties discussed relevant issues related to bilateral cooperation, including the Baltic LNG project. Emphasis was placed on the priority measures aimed at developing a joint design concept (pre-FEED).
BHGE - U.S. Rig Count is up 11 rigs from last week to 1,063, with oil rigs up 8 to 869, gas rigs up 4 to 193, and miscellaneous rigs down 1 to 1. Canada Rig Count is up 13 rigs from last week to 195, with oil rigs up 8 to 127 and gas rigs up 5 to 68.
REUTERS - Brent crude futures had risen $1.02 cents, or 1.3 percent, to $81.28 a barrel by 0637 GMT. The contract dropped 3.4 percent on Thursday following sharp falls in equity markets and indications that supply concerns have been overblown. U.S. West Texas Intermediate (WTI) crude futures were up 80 cents, or 1.1 percent, at $71.77 a barrel, after a 3 percent fall in the previous session. WTI is on track for a 3.5 percent drop this week.
EIA - Brent crude oil spot prices averaged $79 per barrel (b) in September, up $6/b from August. EIA expects Brent spot prices will average $74/b in 2018 and $75/b in 2019. EIA expects West Texas Intermediate (WTI) crude oil prices will average about $6/b lower than Brent prices in 2018 and in 2019.