NewBase 13-November -2022 Energy News issue - 1565 by Khaled Al AwadiNewBase 13-November -2022 Energy News issue - 1565 by Khaled Al AwadiNewBase 13-November -2022 Energy News issue - 1565 by Khaled Al AwadiNewBase 13-November -2022 Energy News issue - 1565 by Khaled Al AwadiNewBase 13-November -2022 Energy News issue - 1565 by Khaled Al Awadi

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NewBase Energy News 13 November 2022 No. 1565 Senior Editor Eng. Khaed Al Awadi
NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
Huge renewable energy potential remains untapped: Irena
TradeArabia News Service
Countries are targeting 5.4 terawatts (TW) of installed renewable power capacity by 2030, which
would only be half of the 10.8 TW of installed capacity needed, said the International Renewable
Energy Agency (Irena).
To achieve net zero, the targeted renewable power capacity by 2030 would have to double
compared to the level of ambition in current targets, said Renewable Energy Targets in 2022: A
guide to design, released by Irena at the UN Climate Change Conference COP27.
The report assesses the level of renewable energy ambition in national climate pledges and
benchmarks targets against the global climate goal of limiting temperature rise to 1.5°C. It clearly
shows the collective level of energy transition ambition to date is not enough despite the Glasgow
Climate Pact to upgrade 2030 targets in national pledges.

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Closing the gap
Irena’s Director-General Francesco La Camera said: “At a time when we desperately need to see
rapid implementation, I call on world leaders to urgently close the renewable deployment gap in
pursuit of resilience, energy security and inclusive economies. Irena’s report is a warning to the
international community telling them that renewables offer a readily achievable climate solution but
require immediate action. Climate pledges must enhance ambition to unlock the full and untapped
potential of renewables.”
“There is a need for real urgency. Despite some progress, the energy transition is far from being on
track,” he added. “Any near-term shortfall in action will further reduce the chance of keeping 1.5°C
within reach. Under the COP27 slogan ‘together for implementation’ we must move from promises
to concrete solutions to benefit people and communities on the ground.”
Irena’s World Energy Transitions Outlook sees half of the energy consumed in 2050 coming from
electricity. 90 per cent of all decarbonisation will involve renewable energy through direct supply of
low-cost power, efficiency, electrification, sustainable bioenergy and green hydrogen. However,
achieving the 2050 climate target will depend on sufficient action by 2030.
Readily achievable
This is readily achievable today as current renewable power targets lag recent deployment levels,
Irena’s report finds. To achieve current targets by 2030, countries would need to add 2.3 TW of
capacity, equivalent to average yearly additions of 259 gigawatts (GW) in the next nine years.
This is below the actual installed capacity added in the past two years: in 2020 and 2021, despite
the complications that resulted from the pandemic and consequent supply chain disruptions, the
world added almost 261 GW each year.
Furthermore, renewable power targeted by 2030 remains concentrated in a few regions globally.
Asia makes up half of the global targeted capacity, followed by Europe and North America. In
comparison, the Middle East and North Africa account for just 3% of global deployment targets for
2030, despite the region’s high potential. And Sub-Saharan Africa accounts for just over 2% of total
global for 2030.
Part of G20
The countries targeting the highest level of deployment are all part of the G20, making up almost
90 per cent of the global aggregated target. Although they make up a small share of past renewable
deployment, aggregated targets by least developed countries (LDCs) and small island developing
states (SIDS) would double their current renewable capacity.
Irena’s analysis build on the recently published 2022 Nationally Determined Contributions Synthesis
Report by UN Climate Change that shows climate plans remain insufficient to limit global
temperature rise to 1.5 degrees Celsius by the end of the century.
Renewables are the backbone of the energy transition and a viable climate solution. Yet out of the
183 parties to the Paris Agreement with renewable energy components in their Nationally
Determined Commitments (NDCs), only 143 have quantified targets with the vast majority focusing
on the power sector. Only 12 countries had committed to a percentage of renewables in their overall
energy mixes.-

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Indonesia: Pertamina, Keppel Infrastructure, and Chevron in
green hydrogen and ammonia projects in Indonesia.. Source: Keppel
Pertamina Power Indonesia (Pertamina NRE), Keppel Infrastructure, through Keppel New Energy,
and Chevron, through Chevron New Energies International, have signed a Joint Study Agreement
(JSA) to explore the development of selected green hydrogen and green ammonia projects using
renewable energy located primarily in Sumatera, Indonesia.
The signing of the JSA took place at the Business 20 (B20) Investment Forum held in conjunction
with the B20 Summit in Bali. B20 is an official G20 engagement group that represents the global
business community.
Signing the JSA were CEO of Pertamina NRE, Dannif Danusaputro; Director of Keppel New Energy
Pte., Ltd., Chua Yong Hwee, and Director of Chevron New Energies International, Pte. Ltd., Andrew
S. Mingst. The signing was witnessed by the Coordinating Minister for Maritime Affairs and
Investment, Luhut Pandjaitan; Minister of Investment of Indonesia & Head of BKPM, Bahlil
Lahadalia, President Director & CEO, PT Pertamina (Persero), Nicke Widyawati and Chief
Executive Officer, Keppel Infrastructure, Cindy Lim.
The JSA intends to explore the feasibility of developing a green hydrogen facility, with a production
capacity of at least 40,000 tonnes per annum, powered by 250-400 megawatts of geothermal energy
in the initial phase. The hydrogen production facility could have the potential to scale up to 80,000-
160,000 tonnes per annum, depending on the availability of geothermal energy as well as market
demands.

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The JSA aims to draw on the complementary strengths of Pertamina, the largest energy company
in Indonesia; Keppel Infrastructure, a leading Singapore-based energy infrastructure solutions
provider with a strong track record of developing and operating large scale energy and
environmental infrastructure projects; and Chevron, a multinational energy corporation committed
to providing affordable, reliable, ever-cleaner energy.
According to an International Energy Agency report, Indonesia, the world’s fourth most populous
country, has a viable path to reaching its target of net zero emissions by 2060. Hydrogen and
ammonia are expected to be important lower carbon fuels as part of this roadmap. Ammonia can
also be used to transport hydrogen and potentially be used to replace bunker fuels as a lower carbon
solution in the global maritime industry.
Indonesia accounts for approximately
40 percent of global geothermal
resources, providing opportunities to
utilize geothermal energy as a reliable
and stable energy source to produce
green ammonia or hydrogen.
Dannif Danusaputro, CEO of
Pertamina NRE, said, 'The
development of green hydrogen and
green ammonia holds a significant role
in Indonesia’s Net Zero Emissions
roadmap. And with its potential, we
believe that Indonesia will also play a
key role in green hydrogen production
in Asia. We are very excited with this
strategic collaboration as we know that Keppel and Chevron are reputable companies and have the
same vision in energy transition as we do.'
Ms. Cindy Lim, CEO of Keppel Infrastructure, said, 'Indonesia is a country with vast resources and
enormous potential for renewable and low carbon energy. We are happy to partner with industry
leaders, Pertamina and Chevron, to explore the first of its kind use of geothermal and other
renewable energy to develop green hydrogen and green ammonia projects and support Indonesia’s
energy transition efforts, as well as catalyze investments in green energy supply chain in the
regions.
In line with Keppel’s Vision 2030, which places sustainability at the core of its strategy, this
collaboration will broaden Keppel Infrastructure’s geographical footprints to create and capture more
value arising from the global commitment to net zero and its energy transition.'
Austin Knight, vice president of Hydrogen, Chevron New Energies, said, 'We have a long history of
working in Indonesia and with Pertamina, and a growing relationship with Keppel Infrastructure. We
look forward to leveraging our collective strengths to study and evaluate lower carbon opportunities
for the region.
Chevron’s strength has always been solving big, complex energy challenges, and creating a lower
carbon future is the opportunity that motivates us. As part of this effort, we must work together to
identify new, innovative ways of producing and delivering ever-cleaner energy to a growing world.'
Keppel Corporation, the parent company of Keppel Infrastructure, does not expect the
abovementioned development to have any material impact on Keppel Corporation’s earnings per
share and net tangible asset per share for the current financial year.

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or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this
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UK to announce U.S. gas deal after climate change summit
Reuters + NewBase
British Prime Minister Rishi Sunak is poised to announce a major natural gas deal with the United
States after the COP27 climate change summit, the Telegraph newspaper reported on Monday.
Britain hopes the United States will promise about 10 billion cubic metres of liquefied natural gas
(LNG) over the coming year, the report said, adding that discussions about the deal are in their final
stages and an announcement could come in a week or two.
But it also said that wrangling
over the exact amount
continues and it was possible
that a specific figure would not
be given when the deal is
publicised. It was also unclear
how much of the gas - which will
be sold by U.S. companies - will
be in the UK energy system this
winter, the Telegraph said.
Earlier this year, the United
States agreed to supply 15
billion cubic metres of LNG to
the European Union to help it
cope with the energy crisis
caused by Russia's invasion of
Ukraine.
Britain's National Grid has said
that Britain's ability to secure
gas supply would depend upon
its prices being high enough to
attract exports from Europe and LNG from countries such as Qatar and the United States.
U.S. LNG producers' ability to supply more fuel will rise only modestly until 2025, when three new
plants become fully operational, according to U.S. government estimates. The plants will add 5.7
billion cubic feet per day (bcfd) to the about 11.75 bcfd of exports expected this quarter.
Wholesale gas prices have soared in recent months as economies reopen from COVID-19
lockdowns while high demand for LNG in Asia has resulted in less supply to Europe.Around 12
British energy suppliers have collapsed this year, affecting more than 2 million customers.

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or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 6

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or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 7
NewBase November 13 -2022 Khaled Al Awadi
NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
Oil settles higher, posts weekly loss as China eases COVID curbs
Reuters + NewBase
Oil prices settled higher on Friday but fell week-on-week after health authorities in China eased
some of the country's heavy COVID-19 curbs, raising hopes for improved economic activity and
demand in the world's top crude importer.
Brent crude futures settled up $2.32 at $95.99 a barrel, extending a 1.1% rise from the previous
session but falling 2.6% on the week. U.S. West Texas Intermediate (WTI) crude futures settled up
$2.49, or 2.9%, at $88.96 a barrel, after climbing 0.8% in the previous session but down nearly 4%
on the week.
The easing curbs include shortening quarantine times for close contacts of cases and inbound
travelers by two days, as well as eliminating a penalty on airlines for bringing in infected passengers.
The benchmark oil contracts fell during the week due to rising U.S. oil inventories, and lingering
fears over capped fuel demand in China, but late-week gains limited the losses.
Oil price special
coverage
An oil well in

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"China’s changing response to stubbornly high COVID-19 cases has added to the oil market’s price
volatility and, should this new Chinese policy continue, the energy complex could be poised to erase
most of this week’s decline," said Jim Ritterbusch, president of Ritterbusch and Associates LLC in
Galena, Illinois.
A weaker U.S. dollar also supported oil prices as it makes the commodity cheaper for buyers holding
other currencies.
Prices also picked up on Friday after milder-than-expected U.S. inflation reinforced hopes that the
Federal Reserve would slow down rate increases, boosting chances of a soft landing for the world's
biggest economy.
Saudi Arabia's energy minister Prince Abdulaziz bin Salman said OPEC+ will remain cautious on
oil production, noting that members saw "uncertainties" in the global economy ahead of the bloc's
next meeting in December, Bloomberg News reported on Friday.
The Organization of the Petroleum Exporting Countries and allies led by Russia, collectively known
as OPEC+, last month agreed to steep production cuts, and will meet again on Dec. 4 to set its
policy.
China's COVID-19 caseload soared to its highest since the lockdown in Shanghai earlier this year.
Both Beijing and Zhengzhou reported record daily cases.
Besides work-from-home orders reducing mobility and fuel demand, travel across China remained
subdued as people wanted to avoid the risk of being caught up in quarantine, ANZ Research
analysts said in a note.

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NewBase Specual Coverage
The Energy world –November -13 -2022
CLEAN ENERGY
Strong demand for diesel leads to high prices and tight
inventories going into winter
U.S. EIA, Weekly Petroleum Status Report
Strong demand for ultra-low sulfur diesel (ULSD) in October, combined with reduced global
production, has resulted in lower ULSD inventories in the United States. ULSD is the most widely
consumed form of distillate fuel oil.
Current inventories and our current estimate of future demand can be combined into a metric called
days of supply, which is calculated by dividing the inventory (in barrels) by the estimated demand
(in barrels per day) to get the number of days that inventories alone could meet demand.
Note: Days of supply is calculated by dividing weekly ending inventories of distillate fuel oil by the
rolling four-week average product supplied of distillate fuel oil for the corresponding week.
In October 2022, the United States had 25 days of supply of distillate, the fewest since 2008. U.S.
days of supply between 2017 and 2021 averaged 34 days. U.S. inventories of distillate fuel oil have
been below the previous five-year (2017–21) low since the start of 2022.
Days of supply, however, is not a complete snapshot of distillate fuel oil availability because it
doesn’t take into account production, imports, or any sources of supply other than inventories.

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In October 2022, the New York Harbor spot price for ULSD averaged $4.36 per gallon (gal), the
highest monthly price since May 2022. The increase in diesel prices, both in the United States and
globally, has been the result of a number of factors, such as tight global inventories, reduced refinery
production in Europe following labor strikes, and the start of seasonal demand for distillate as a
home heating fuel.
Data source: U.S. Energy Information Administration, Weekly Petroleum Status Report
Reduced refining capacity in the United States and globally since 2020 is one of the main reasons
for low distillate inventories in the United States. Distillate fuel consumption this year, through
August, remained below pre-pandemic levels but was higher than in 2020.
More distillate consumption combined with less distillate production contributed to the lower
inventories. Increasing demand in October, measured as product supplied, contributed to greater
pressure on those inventories and resulted in a decrease in October days of supply relative to
September.
The Northeast—the combined New England and mid-Atlantic regions—has had even tighter
inventories than the U.S. average. Lower inventories have contributed to rising prices in the region.
U.S. distillate demand is seasonal; specifically, consumption increases in the winter because it is
used for home heating, mostly in the Northeast.

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NewBase Energy News 13 November 2022 - Issue No. 1565 call on +971504822502, UAE
The Editor:” Khaled Al Awadi” Your partner in Energy Services
NewBase energy news is produced Twice a week and sponsored by Hawk Energy Service – Dubai, UAE.
For additional free subscriptions, please email us.
About: Khaled Malallah Al Awadi,
Energy Consultant
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME member since 1995
Hawk Energy member 2010
www.linkedin.com/in/khaled-al-awadi-38b995b
Mobile: +971504822502
khdmohd@hawkenergy.net or khdmohd@hotmail.com
Khaled Al Awadi is a UAE National with over 30 years of experience in the Oil & Gas
sector. Has Mechanical Engineering BSc. & MSc. Degrees from leading U.S.
Universities. Currently working as self leading external Energy consultant for the GCC
area via many leading Energy Services companies. Khaled is the Founder of the
NewBase Energy news articles issues, Khaled is an international consultant, advisor,
ecopreneur and journalist with expertise in Gas & Oil pipeline Networks, waste
management, waste-to-energy, renewable energy, environment protection and
sustainable development. His geographical areas of focus include Middle East, Africa
and Asia. Khaled has successfully accomplished a wide range of projects in the areas
of Gas & Oil with extensive works on Gas Pipeline Network Facilities & gas compressor
stations. Executed projects in the designing & constructing of gas pipelines, gas
metering & regulating stations and in the engineering of gas/oil supply routes. Has drafted
& finalized many contracts/agreements in products sale, transportation, operation & maintenance
agreements. Along with many MOUs & JVs for organizations & governments authorities. Currently dealing
for biomass energy, biogas, waste-to-energy, recycling and waste management. He has participated in
numerous conferences and workshops as chairman, session chair, keynote speaker and panelist. Khaled is
the Editor-in-Chief of NewBase Energy News and is a professional environmental writer with over 1400
popular articles to his credit. He is proactively engaged in creating mass awareness on renewable energy,
waste management, plant Automation IA and environmental sustainability in different parts of the world.
Khaled has become a reference for many of the Oil & Gas Conferences and for many Energy program
broadcasted internationally, via GCC leading satellite Channels. Khaled can be reached at any time, see
contact details above.

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publication. However, no warranty is given to the accuracy of its content. Page 13

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publication. However, no warranty is given to the accuracy of its content. Page 14

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or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavors have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 15