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PdV reactivating wind farm to supply refineries

  • Market: Crude oil, Electricity, Oil products
  • 13/05/19

Venezuela's state-owned PdV is seeking to reactivate a wind energy project designed to supply its faltering 940,000 b/d CRP oil refining complex on the Paraguaná peninsula.

The company said it has recommissioned 14 wind turbines with combined capacity of 18.4MW since March at the Los Taques wind farm, a 535-hectare mostly dormant facility south of Santa Cruz de Los Taques on the western side of the peninsula in Falcón state.

The Los Taques wind farm, originally designed for 71.28MW of capacity, was only partially operating when it was abandoned in 2016 by state-owned utility Corpoelec.

Built over 2008-12 by Spanish company Gamesa, the $600mn wind farm consists of 54 wind turbines of 1.32MW capacity apiece. Each turbine is 55m high, with rotors of 61m in diameter.

Los Taques was able to generate up to 31MW of electricity in 2014 but was shut down in second-half 2016, by which time generation had dropped to 8MW and the facility remained isolated from the national power grid.

PdV now expects to reactivate up to 30 of the 54 turbines at Los Taques this year to assure up to 27MW of dedicated supply to the CRP.

The CRP complex, which includes the 635,000 b/d Amuay refinery and the 305,000 b/d Cardón refinery, never received any electricity from Los Taques though it was conceived as a dedicated electricity source for the refineries.

Amuay currently is processing about 100,000 b/d and Cardón refinery is shut down completely, union officials at the CRP said. Both cited a lack of stable electricity supply as one of the main reasons why the complex is only running at around 10pc of its design capacity.

"We're the only active wind farm in Venezuela, and we're doing it independently, without (third party services) contracts and foreign companies," CRP technical manager Adolfo Quiroz said. "Corpoelec technicians are helping us."

Officials at Corpoelec and the CRP said repair crews are cannibalizing parts from some of the inactive turbines to recommission up to 30 others.

"Some wind turbines, blades and towers have been damaged by long-term exposure to ocean salt and no maintenance by Corpoelec," the CRP official said. "At best only 30 turbines are salvageable."

Los Taques is one of four wind projects with a combined capacity of 172MW announced in 2010 in the states of Falcon, Zulia, Nueva Esparta and Sucre. Gamesa built Los Taques, and Argentinian firm Impsa built the long-neglected 24MW Guajira project in Zulia. The wind projects in Nueva Esparta and Sucre awarded to Portuguese firm Galp never broke ground.

The electricity ministry estimates Venezuela's potential to generate wind farm electricity at over 10GW.

Most of Venezuela´s electricity comes from the 10GW Guri dam, but damage to a strategic transmission line left most of the country without service on at least a half dozen occasions in March and early April. Most thermoelectric assets are not operational because of a lack of feedstock and spare parts. In contrast to neighboring countries, wind and solar energy is virtually non-existent.


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15/01/25

Opec sees 1.4mn b/d oil demand growth in 2026

Opec sees 1.4mn b/d oil demand growth in 2026

London, 15 January (Argus) — Opec's first global oil demand projections for 2026 see consumption growth of just over 1.4mn b/d, roughly the same as its forecast for this year. In its Monthly Oil Market Report (MOMR) today, Opec forecast oil demand growing by 1.43mn b/d to 106.63mn b/d, underpinned by continued "solid economic activity in Asia and other non-OECD countries." Opec sees consumption growing by 1.45mn b/d this year, unchanged from its previous estimate. But it trimmed its 2024 demand growth estimate by 70,000 b/d to 1.54mn b/d, a sixth consecutive monthly downward revision. This brings Opec further in line with forecasters such as the IEA and EIA, but the gap between them remains large, particularly given 2024 has ended. Opec's oil demand growth estimate for 2024 is 600,000 b/d above that of the IEA's 940,000 b/d. And there is now an 850,000 b/d gap between Opec's 2024 total oil demand estimate of 103.75mn b/d and the IEA's 102.9mn b/d. Opec's oil demand growth estimate for 2025 is 400,000 b/d above the IEA's forecast for 1.05mn b/d. China, which has long driven global oil demand growth but whose economy is now slowing, is projected to add 270,000 b/d in 2026, compared with 310,000 b/d in 2025, around 300,000 b/d in 2024 and about 1.4mn b/d in 2023. In terms of supply, the producer group sees non-Opec+ liquids supply growth at 1.1mn b/d, the same as 2025 and again driven by gains from the US, Brazil and Canada. It said non-Opec+ liquids supply increased by 1.3mn b/d in 2024. Opec+ crude production — including Mexico — fell by 14,000 b/d to 40.65mn in December, according to an average of secondary sources that includes Argus . Opec put the call on Opec+ crude at 42.5mn b/d for this year and 42.7mn b/d for next. By Aydin Calik Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Inpex wins Norwegian offshore exploration licences


15/01/25
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15/01/25

Inpex wins Norwegian offshore exploration licences

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IEA warns of supply squeeze from Russia, Iran sanctions


15/01/25
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15/01/25

IEA warns of supply squeeze from Russia, Iran sanctions

London, 15 January (Argus) — The IEA sees a slightly tighter oil market this year than it previously forecast and said new US sanctions on Russia and Iran could further squeeze balances. The outgoing administration of US President Joe Biden announced additional sanctions on Russia's energy exports earlier this month, and moved to tighten sanctions on Iran's oil exports in December. "We maintain our supply forecasts for both countries until the full impact of sanctions becomes more apparent, but the new measures could result in a tightening of crude and product balances," the IEA said today in its latest monthly Oil Market Report (OMR). But the effect of incoming US President Donald Trump on Russian and Iranian supply remains a key variable. As things stand, the IEA projects a 720,000 b/d supply surplus this year — showing a well cushioned oil market. This is around 230,000 b/d less than its previous forecast. For 2024, the IEA's balances show a small supply surplus of 20,000 b/d. The Paris-based agency sees global oil supply growing by 1.8mn b/d to 104.7mn b/d in 2025, compared to growth of 1.9mn b/d in its December report. Almost all of the 2025 growth — 1.5mn b/d — will come from non-Opec+ countries such as US, Brazil, Guyana, Canada and Argentina. The IEA continues to assume all current Opec+ cuts will remain in place this year, although the alliance plans to start increasing output from April. The IEA said global oil supply grew by 650,000 b/d in 2024. The agency sees global oil demand growing by 1.05mn b/d in 2025, down by 30,000 b/d from its December forecast. This should see oil demand reach 104.0mn b/d, with most of the gains driven by "a gradually improving economic outlook for developed economies, while lower oil prices will also incentivise consumption." China, which has long driven global oil demand growth but whose economy is now slowing, will add 220,000 b/d in 2025, compared with 180,000 b/d in 2024 and 1.35mn b/d in 2023. But the IEA revised up its oil demand growth estimates for 2024 by 90,000 b/d to 940,000 b/d. This was mostly due to better-than-expected growth in the fourth quarter, which at 1.5mn b/d was highest since the same period in 2023 and 260,000 b/d above than its previous forecast. This increase was mostly due to lower fuel prices, colder weather and abundant petrochemical feedstocks, the IEA said. The IEA said global observed oil stocks increased by 12.2mn bl in November, with higher crude stocks on land and water offsetting refined product draws. It said preliminary data show a further stock build in December. By Aydin Calik Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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ADB to fund Indonesia $92.6mn for geothermal expansion


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15/01/25

ADB to fund Indonesia $92.6mn for geothermal expansion

Singapore, 15 January (Argus) — The Asian Development Bank (ADB) has signed a $92.6mn financing agreement with geothermal power producer Supreme Energy Muara Laboh (SEML) to develop Indonesia's geothermal power capabilities. The funds will go toward the expansion of a geothermal facility at Muara Laboh in West Sumatra, and the construction, operation and maintenance of a new 83MW geothermal power plant, the ADB announced on 14 January. The support will "help Indonesia to meet its clean energy targets and deliver affordable electricity," said the ADB's country director for Indonesia, Jiro Tominaga. The project will also allow Indonesia to enhance its long-term energy security, while reducing greenhouse gas emissions. The finance package consists of $38.8mn from the bank's ordinary capital resources, a $38.8mn "B loan" from Sumitomo Mitsui Banking, and a $15mn concessional loan from the Australian Climate Finance Partnership (ACFP). Indonesia has the world's largest geothermal energy reserves, estimated at 23.1GW, said the ADB. But the country is still heavily reliant on fossil fuels for its energy needs, with coal accounting for 61.8pc of Indonesia's power mix in 2023, while renewables accounted for 19pc. Indonesia's president Prabowo Subianto announced in November that Indonesia intends to retire all coal-fired power plants by 2040, and the government subsequently clarified that it is instead aiming for a coal phase-down . But a phase-out could be possible if the country rapidly increases its share of renewables in the energy mix to 65pc, according to energy think-tank Ember. This would mean a renewable energy target higher than the government's current goal of 75GW by 2040. By Prethika Nair Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Colonial shuts Line 1 due to Georgia spill: Update


14/01/25
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14/01/25

Colonial shuts Line 1 due to Georgia spill: Update

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