Venezuela restoring power after blackout: minister
Power supplies are returning to Venezuela following a fresh blackout, electricity minister Fredy Brito said this evening.
Brito confirmed through Twitter that the blackout hit at 4:45pm local time today.
"We are in the process of reconnection to restore service... the labor force is dedicated to restoring the system."
Venezuela suffered a string of catastrophic blackouts in March and early April. State-owned utility Corpoelec has since been patching up the grid that is still subject the frequent outages across the country.
This afternoon´s blackout covered most of Venezuela's 23 states.
Communications vice-president Jorge Rodriguez blamed the blackout on an "electromagnetic attack", echoing previous government statements attributing outages to actions directed from abroad.
Corpoelec officials privately blame years of under-investment, mismanagement and corruption for the broken state of the grid.
President Nicolas Maduro's government is subject to US sanctions aimed at forcing him out of office in favor of the opposition, led by National Assembly speaker and self-declared interim president Juan Guaido.
The government "tried to conceal the tragedy with rationing across the country, but the failure is evident: they destroyed the electric system and have no answers," Guaido said on Twitter tonight.
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Small private Libyan firm exports oil through blockade
Small private Libyan firm exports oil through blockade
London, 19 September (Argus) — A small Libyan private firm appears to have been granted an exemption from an oil blockade, which has more than halved the country's exports. Arkenu Oil, which describes itself as a private oil and gas development and production firm, is scheduled to export 1mn bl of Sarir and Mesla crude from Marsa el-Hariga to Italy's Trieste on the Maran Poseidon, according to an official document seen by Argus . The tanker has been chartered by Turkish trader BGN and is currently loading its cargo. This is the first Arkenu shipment set to be exported since the country's eastern-based administration ordered a blockade on oil fields and terminals on 26 August in response to an attempt by its rival administration in the west to replace the central bank governor. It is also Arkenu's third known shipment since July. Arkenu exported a 1mn bl cargo on the Zeus on 10 July and another 1mn barrel cargo on the Yasa Polaris on 16 August, according to official documents and ship-tracking data. These were also Sarir and Mesla grade. Arkenu's exports are significant given that crude sales have historically been the preserve of NOC and a handful of international oil firms that hold stakes in the country's upstream such as Eni, TotalEnergies and OMV. Arkenu, which is based in the eastern city of Benghazi, is supposedly able to export its own crude based on an agreement with NOC which allocates it an unspecified share of production from its subsidiary Agoco's Sarir and Mesla fields in return for carrying out work to boost output at the sites. But there remain questions related to the legality of the deal, the nature of the work Arkenu is supposed to be carrying out and the company's technical capabilities. The three known Arkenu cargoes are worth around $240mn at prevailing market rates, Argus estimates. There has been no increase to Agoco's production capacity since the Arkenu deal was struck, one Libyan oil industry source said. Sarir and Mesla accounted for most of Agoco's roughly 280,000 b/d output in 2023. Arkenu and NOC have yet to reply to a request for comment. "The Haftar family is deliberately and selectively allowing crude exports that generate dollars outside the Libyan state, and they are doing so within the context of a blockade they imposed," said Jalel Harchaoui, a Libya specialist at the UK's Royal United Services Institute. "While the Libyan state struggles to figure out how to import food and medicine next month owing to the central bank crisis, the Haftars' strange oil blockade permits crude exports that profit a private Libyan entity," Harchaoui added. The leadership crisis at the central bank has degraded Libya's ability to carry out international financial transactions. "The only beneficiary from these Mesla and Sarir sales is an unknown private Libyan company with an account in Switzerland and the UAE, with zero dollars being deposited in the state," the oil industry source added. General Khalifa Haftar's Libyan National Army (LNA) controls the country's east and southwest and is the real force behind the blockade. Haftar is understood to be allowing some exports to continue as long as these revenues do not reach the central bank in Tripoli, which is controlled by the rival administration in the west. Libya's crude exports have averaged 410,000 b/d so far this month, according to Kpler. While this is well below pre-blockade levels of around 1mn b/d, it is well above levels seen in some past blockades. Rising exports in recent days suggests Libya's total crude production has picked up from an earlier Argus estimate of around 300,000 b/d to possibly around 500,000 b/d. Libya was producing 1mn b/d before the blockade. By Aydin Calik Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Kosovo confident in winter 24-25 supply: TSO
Kosovo confident in winter 24-25 supply: TSO
London, 19 September (Argus) — Kosovar transmission system operator (TSO) Kostt is confident it can meet demand over the winter season through domestic generation and imports, Kostt told Argus in an interview ahead of the Energy Week Western Balkans conference. Domestic generation capacity is not enough to meet demand during periods of high consumption, such as during the winter season, and imports will be necessary during peak tariff periods to meet demand, the TSO said. Maximum demand over the upcoming winter season is expected to reach 1.45GW, and transmission capacity can reach 1.85GW under normal operating conditions, Kostt said. Kosovar distribution company Keds and energy supplier Kesko had to import up to 35pc of power during peak periods in December last year, when peak demand reached 1.1GW. Annual maintenance at the 680MW Kosova B lignite-fired plant was completed on 18 August, and the plant is scheduled to be fully available over the winter season. Constraints on the electric system should be reduced in the upcoming winter season, as Keds has started metering the four Serbian-majority municipalities located in the country's north in January . Kostt was responsible for supply in the region last year, but received payment through subsidies from the Kosovar government, rather than tariffs. But subsidies were sometimes delayed, which created challenges in balancing real-time deviations within Kostt's control area, the TSO said. An agreement was reached last year with Serbian state-owned utility EPS subsidiary Elektrosever to normalise power supply for the Serbian majority municipalities, which were not paying for the unauthorised withdrawal of electricity. Elektrosever is now responsible for supply in the region and submits daily nominations and adheres to balancing requirements, although Kostt still meets its financial requirement to cover losses in the transmission system. There have been no violations of the operational terms since the agreement went into effect on 1 January, Kostt said. "System operations have become more stable, and deviations are now within the Entso-e acceptable limits," Kostt said. And Elektrosever has agreed to Kostt's request to submit an electricity supply plan for the region for 2025. By Annemarie Pettinato Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Western Australia to allow some onshore gas exports
Western Australia to allow some onshore gas exports
Darwin, 19 September (Argus) — Western Australia's (WA) state government will allow onshore developers of gas fields to export about 20pc of their output as LNG during a five-year window, in response to a growing failure to bring on new supplies for the domestic market. WA previously banned onshore gas exports, except in the case of Australian independent Beach Energy's 250 TJ/d (6.7mn m³/d) Waitsia stage 2 project . Beach may be required to share its infrastructure with fellow Perth basin firms, the WA government said, to expedite market access for new projects. Australian mining firm Mineral Resources, which has argued for permission to export 85pc of the gas from its Lockyer project as LNG and fellow WA-based firm Strike Energy may benefit from the changes, as both hold significant reserves in the Perth basin. The changes apply to new onshore developments or existing projects seeking to expand production. Developers are required to reserve 80pc of gas produced for WA, with this rising to 100pc from 2031 onwards. The policy shift follows dire outlooks for WA's gas supplies as the state attempts to wean itself off coal-fired power generation. It currently contributes about a third of the electricity into the state's largest power grid. A parliamentary report last month warned WA cannot rely on sporadic appeals for more gas to meet demand. "These policy changes are sensible responses that balance the need for Western Australia to secure its energy future while encouraging onshore producers to bring on more gas supply as and when it is needed," mines and petroleum Minister David Michael said on 19 September. The 15pc reservation for offshore LNG projects will continue, while WA has promised more transparency on the policy with the publication of a yearly WA Domestic Gas Statement to reveal how producers are meeting obligations, with a review to take place after two years. An interim parliamentary report tabled earlier this year showed about 8pc of the state's offshore gas output has reached WA consumers since 2006, representing just over half the required volumes. Following public criticism of LNG producers' contributions, Australian independent Woodside Energy has since pledged an extra 32PJ (854mn m³) of domestic supplies by the end of 2025 . WA will also seek to strengthen laws designed to prevent companies banking prospective onshore oil and gas tenements, with a review into the "use it or lose it" policy to be led by the state's energy department. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Citgo auction result delayed amid last-minute motions
Citgo auction result delayed amid last-minute motions
Houston, 18 September (Argus) — The US court-appointed special master overseeing the auction of US refiner Citgo plans to object to a last-minute motion from the Venezuelan government to delay the sale process by four months. The Republic of Venezuela and state-owned oil company PdV filed a motion on Tuesday seeking a four-month pause in the sale of its refining subsidiary Citgo, which is being auctioned off to satisfy debts owed by PdV. Special master Robert Pincus said in a court filing today that he intends to object to Venezuela's motion for a pause. The last-minute motion from Venezuela comes days after the US District Court for the District of Delaware was expected to announce results of the winning bidder. The court asked for a second extension to the auction process in August, delaying announcing a successful bidder to on or about 16 September with a sale hearing on 7 November. But Pincus is now dealing with last-minute legal challenges filed last week outside of the Delaware courts by so-called "alter ego" claimants seeking to "circumvent" the Delaware court's sales process and "jump the line" for enforcing claims against PdV, the special master said in a filing last week. Bidders for Citgo's 804,000 b/d of refining capacity, terminals, retail fuel stations and other plants expect the assets to be sold free and clear of future claims by PdV creditors. Unresolved legal liabilities could lower the value bidders are willing to pay for Citgo, decreasing the pool of money available to those owed by PdV. By Nathan Risser Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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