Energy

Looking to maximise the benefit of its hydrocarbons reserves, Oman is investing in downstream oil-and-gas activities, including a new petrochemicals plant and an expansion at one of its refineries.

Los gobiernos de todo el mundo están incluyendo cada vez más a las fuentes renovables de energía como parte de sus estrategias energéticas a largo plazo, pues se ha reconocido que los combustibles fósiles no sólo son finitos, sino que su uso también puede resultar perjudicial para el medio ambiente. México se ha situado a la vanguardia de esta tendencia.

While Jordan has had some success in meeting the requirements of its $2bn stand-by arrangement with the IMF, fulfilling its promise to lower electricity subsidies as part of a larger plan to reduce losses at the state power utility and improve the government’s fiscal position is proving more of a challenge.

Delivery of a key new 450-MW combined heat and power plant known as CHP5 continues to face implementation uncertainties, with competing projects likely causing a delay in the final investment decision in the near term. Foreign participants who spoke to OBG remain interested in offering technology and expertise. However, progress appears to be stalling as a result of an internal debate over project viability.

Despite holding substantial oil reserves, Kuwait is stepping up its efforts to develop alternative sources of energy. In mid-June the government announced it was inviting bids for the construction of Shagaya, a renewable energy park, as part of its plan to generate 15% of its electricity through non-oil sources by 2030.

Long-awaited reforms to Nigeria’s oil industry may be gaining momentum again. Investors are seeking clarity about the new structures to be introduced by the passage of the Petroleum Industry Bill (PIB), now in its fifth year of deliberations. The legislation is expected to increase efficiency and transparency, although some aspects of the code are proving tricky to resolve.