NewBase June 28 -2022 Energy News issue - 1525 by Khaled Al Awadi.pdf

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NewBase Energy News 28 June 2022 No. 1525 Senior Editor Eng. Khaed Al Awadi
NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
QatarEnergy aims to remove methane footprint by 2030
NewBase + Qatar Energy
QatarEnergy has joined the Aiming for Zero Methane Emissions Initiative, an industry-led initiative
that aims to reach near zero methane emissions from operated oil and gas assets by 2030.
The initiative adopts an all-in approach that treats methane emissions as seriously as the industry
treats safety. It supports the implementation of sound regulations to tackle methane emissions and
encourages governments to include methane emissions reduction targets as part of their climate
strategies.
QatarEnergy is the first company to join the initiative outside its twelve existing signatories: Aramco,
bp, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Petrobras, Repsol, Shell and
TotalEnergies.
Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of
QatarEnergy, said: “By being the first company to join the Aiming for Zero Methane Emissions
Initiative outside its twelve existing signatories, we are reaffirming Qatar’s priorities and
commitments with regards to the climate change agenda, and its unwavering support to the global
effort to reducing emissions, including methane.
“This also falls in line with QatarEnergy’s recently announced Sustainability Strategy and follows
landmark steps that include signing the guiding principles on reducing methane emissions across
the natural gas value chain and endorsing the Global Methane Pledge.”

On this occasion, Bob Dudley, Chair of the Oil and Gas Climate Initiative (OGCI), a CEO-led
consortium, said: “We are proud to welcome QatarEnergy, one of the world’s largest integrated
energy providers, to the Aiming for Zero Methane Emissions Initiative.”
“Recognizing that eliminating methane emissions from the oil and gas industry represents one of
the best short-term ways of addressing climate change, I encourage others to join this ambitious
effort to eliminate the oil and gas industry’s methane footprint by 2030,” Dudley added.
The Aiming for Zero Methane Emissions Initiative was launched in March 2022 by the OGCI
member CEOs. All energy companies involved in the exploration, extraction and/or production of oil
or natural gas can join as Signatories at no financial cost.
Other organizations striving to have a positive influence on reducing methane emissions from the
oil and gas industry can join as Supporters. Companies joining the Initiative agree to do what it takes
to reach near zero methane emissions in their operations, reporting transparently, adopting better
monitoring and measurement technologies and supporting the implementation of sound
regulations.

Global: Energy demand and carbon emissions bounce back
Bp.com
Global energy demand and carbon emissions bounced back to around pre-pandemic levels in 2021,
reversing the temporary reduction in 2020 resulting from the coronavirus pandemic amid global
economic recovery, according to BP’s annual statistical review of world energy.
Primary energy in 2021 grew by its largest amount in history, with emerging economies accounting
for most of the increase.
Primary energy demand climbed 5.8 per cent in 2021, exceeding 2019 levels by 1.3 per cent, while
carbon dioxide emissions from energy use including industrial processes, flaring and methane also
rose 5.7 per cent in 2021, the report said on Tuesday.
The report also said challenges and uncertainties facing the global energy system are at their
greatest for almost 50 years, since the time of the last great energy shocks of the 1970s in the wake
of Russia's military offensive in Ukraine.
"In many ways, this sharp rebound in energy demand is a sign of global success, driven by a rapid
recovery in economic activity as the widespread distribution of effective vaccines allowed for an
easing in Covid-19 restrictions in many parts of the world and a return to our everyday lives," chief
economist of BP Spencer Dale said. "But it also highlights that the pronounced dip in carbon
emissions in 2020 was only temporary."
Oil demand in 2021 remained below 2019 levels. Oil consumption increased by 5.3 million barrels
per day in 2021 but remained 3.7 million bpd below 2019 levels.
A majority of the consumption growth came from gasoline (1.8 million bpd) and diesel/gasoil (1.3
million bpd). Regionally, most of the growth took place in the US (1.5 million bpd), China (1.3 million
bpd) and the EU (570,000 bpd).
Global oil production increased by 1.4 million bpd in 2021, with the Opec+ 23-member super group
of producers accounting for more than three-quarters of the increase.

Among all countries, Libya (840,000 bpd), Iran (540,000 bpd) and Canada (300,000 bpd) saw the
largest increases. Nigeria (-200,000 bpd), the UK (-170,000 bpd) and Angola (-150,000 bpd)
reported the biggest declines.
Refinery capacity declined for the first time in over 30 years by almost 500,000 bpd last year, driven
by a sharp reduction across the 33 OECD countries (1.1 million bpd). As a result, refining capacity
in the OECD in 2021 was at its lowest level since 1998.
Carbon dioxide emissions from energy use, industrial processes, flaring and methane (in carbon
dioxide equivalent) rose 5.7 per cent in 2021, with carbon dioxide emissions from energy rising 5.9
per cent, close to 2019 levels.
Natural gas prices rebounded strongly across all three major gas regions in 2021, rising fourfold to
record annual levels in Europe and tripling in the Asian LNG spot market. US Henry Hub prices
nearly doubled to average $3.84/mmBtu in 2021 - their highest annual level since 2014.
Global natural gas demand grew 5.3 per cent in 2021, recovering above pre-pandemic 2019 levels
and crossing the 4 Tcm mark for the first time. Its share in primary energy in 2021 was unchanged
from the previous year at 24 per cent.
LNG supply grew 5.6 per cent in 2021, its slowest rate of growth since 2015 (other than in 2020).
LNG supply from the US rose by 34 Bcm, accounting for most of the new incremental supplies and
more than offsetting declines from mainly other Atlantic Basin exporters.
China surpassed Japan as the world’s largest LNG importer and accounted for close to 60 per cent
of global LNG demand growth in 2021.

Algerian pipeline exports to Europe were the largest source of pipeline supply growth to the region
last year, followed by Azerbaijan. While Russian pipeline supply to Europe overall was steady at
167 Bcm in 2021, exports to the EU decreased by 8.2 per cent.
Russia accounted for 20-40 per cent of the EU’s oil, gas, and coal consumption in 2021.
Coal prices rose dramatically in 2021, with European prices averaging $121 a tonne and the Asian
marker price averaging $145 a tonne, its highest since 2008. Coal consumption grew over 6 per
cent in 2021, slightly above 2019 levels and its highest level since 2014.
China and India accounted for over 70 per cent of the growth in coal demand in 2021. Global coal
production matched consumption with China and India accounting for much of the increase in
production, which was largely consumed domestically, as well as Indonesia, supporting higher
exports.
Both Europe and North America showed an increase in coal consumption in 2021 after nearly 10
years of back-to-back declines.
The share of renewables in global power generation continued to increase globally.
Renewable primary energy (including biofuels but excluding hydro) increased an annual 15 per
cent, stronger than the previous year’s 9 per cent and higher than that of any other fuel in 2021.
Solar and wind capacity continued to grow rapidly in 2021, increasing by 226 GW, close to the
record increase of 236 GW seen in 2020.
China remained the main driver of solar and wind capacity growth last year, accounting for about
36 per cent and 40 per cent of the global capacity additions, respectively.
Hydroelectricity generation decreased by around 1.4 per cent in 2021, the first fall since 2015. In
contrast, nuclear generation increased by 4.2 per cent – the strongest increase since 2004 – led by
China.

E.U: As Russia Cuts Gas, Coal Makes A Comeback In Europe© Agence
Agence France-Presse + NewBase
Russia's gas cuts to Europe have prompted a clutch of countries to revert to burning coal, raising
concerns as the EU seeks to become climate neutral by 2050.
Here is a look at the situation: Globally, coal is the main source of energy for electricity production,
but it is also the top producer of greenhouse gases.
Its use is declining in the European Union, where 202 coal-fired plants with production capacity of
111 gigawatts were in operation earlier this year, according to the Global Energy Monitor, a US-
based non-governmental organisation.
Germany has stepped up coal use: in the first five months of the year, electricity produced by coal
jumped 20 percent, according to Rystad Energy
Germany is home to the most plants with 63, followed by 44 in neighbouring Poland and 24 in the
Czech Republic. But their use is falling in the 27-nation EU, with coal behind 13 percent of electricity
production in 2020, compared to 25 percent in 2013, thanks in part to the rising cost of CO2 emission
permits.
"Since 2015, all European countries have gradually pledged to abandon coal, including Poland
which was very opposed to that," noted Nicolas Berghmans at the Paris-based Institute for
Sustainable Development and International Relations.
There are no new coal projects underway in Europe, unlike other regions such as Asia. Some
countries, like Portugal, have completely eliminated the use of the fossil fuel. Russia's halt in natural
gas deliveries threatens to rapidly create shortages, so several countries have announced

temporary measures in favour of coal. One such country is Germany, where coal-fired electricity
plants will operate longer than planned. Berlin has insisted this does not change its plans to exit
coal in 2030.
Austria, Italy and the Netherlands have made similar announcements.
Germany has already stepped up coal use: in the first five months of the year, electricity produced
by coal jumped 20 percent, according to Rystad Energy, a research and business intelligence firm.
The EU has decided to ban Russian coal from the month of August, so it will need to import hard
coal supplies from elsewhere. Europe is nearly sufficient in brown coal, which is the most polluting.
The German association of hard coal importers estimated in March that Russian imports could be
quickly replaced by supplies from countries such as the United States, Colombia, South Africa,
Australia, Mozambique and Indonesia.
EU officials have called for using the crisis to push forward in the transition to clean energy rather
than reverting to dirty fuels. Berghmans noted that using coal plants would cause a temporary rise
in carbon emissions.
"Nevertheless, the advantage of calling upon these plants that were due to close is that there is no
investment in new capacity," he said. Europe is thus in a completely different situation than Asia,
where projects for new coal-fired electricity plants are still being undertaken. These facilities will
likely be in operation for decades.
The International Energy Agency (IEA) has flagged a worrying increase in investment in coal
projects, a 10 percent rise in 2021 centred in Asia. A similar gain is expected in 2022.
EU members are currently discussing a plan called RepowerEU that would accelerate the push
towards renewable energy sources and reduce overall demand. Berghmans expressed confidence
that renewables and demand reduction would allow Europe to "turn the corner" and achieve its
climate objectives.
The IEA, which has presented a plan to help Europe reduce its dependence upon Russian
gas, believes there is a bit of room for the continent to revert to coal use without increasing carbon
emissions. According to its calculations, Europe can replace about 14 percent of imported Russian
gas with coal-fired electricity without producing more pollution.

G7’s Russia cap could send oil prices up, not down
Reuters - Pierre Briancon
What’s not to like in the idea of setting a price cap on Russian oil exports? It limits
the revenue Moscow has been amassing since the beginning of the war in Ukraine, cuts the
European Union’s energy bill and helps control inflation, while avoiding a major disturbance of the
global oil market. The G7 has launched a study of the concept. Considering the risks of a boomerang
effect on prices, it needs to be rigorous.
Britain's Prime Minister Boris Johnson, U.S. President Joe Biden, Germany's Chancellor Olaf
Scholz, France's President Emmanuel Macron and Italy's Prime Minister Mario Draghi attend a
meeting alongside the G7 leaders summit at Bavaria's Schloss Elmau, near Garmisch-
Partenkirchen, Germany June 28, 2022. Ludovic Marin/Pool via REUTERS
The scheme contemplated would ban insurance on Russian oil cargo sold at a certain level lower
than both Brent’s current $117 a barrel, and the $90 a barrel at which Russia’s discounted Urals
crude trades. But it would have to be higher than Russia’s marginal cost of exploration, estimated
at around $40 a barrel.
To work, the cap would need global buy-in, notably by countries like India or China. They have
snapped up Russian oil in the last four months as the EU cut its imports. But they could find cheaper
insurance alternatives than those provided by the EU and the UK. And nothing would prevent them
from buying Russian oil at cap-plus prices.
The United States and its allies are unlikely to be ready or able to extend sanctions to the countries
that just ignore the cap.

A poorly observed cap may at least not make oil prices spike. What might do is the difficulty of
securing Russian agreement to keep exporting its oil at a forced discount.
That is a bet on Russian President Vladimir Putin’s acceptance of political humiliation, in the name
of his country’s economic interest. If Russia decides not to play ball, world prices will go up. Its
exports currently amount to 8% of world output.
A cut to 5% could cause world prices to jump by up to 30%, economist Olivier Blanchard
has estimated. It’s not obvious that Saudi Arabia and the United Arab Emirates can offset this by
pumping their spare capacity.
The EU is already on the way to a full embargo on Russian oil. World prices are threatened by a
major economic slowdown. True, the EU has sent more than $32 billion to Moscow in oil payments
since the beginning of the war. But that is money that Russia can hardly spend on anything due to
financial sanctions. Setting up an effective oil price cap may prove an unnecessary effort.
Leaders of the Group of 7
industrialised nations agreed on
June 28 to study the possibility of
setting a price cap on Russian
energy imports, in a bid to limit
Moscow's revenue and ability to
fund its war in Ukraine. The
European Union will explore with
international partners ways to
curb energy prices, including the
feasibility of temporary price
caps, according to a section of
the final G7 communiqué seen by
Reuters.

NewBase June 28 -2022 Khaled Al Awadi
NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
Oil extends gains as major producers flag capacity limits
Reuters + NewBase
Oil prices rallied for a third day on Tuesday as major producers Saudi Arabia and the United Arab
Emirates looked unlikely to be able to boost output significantly while Western governments agreed
to explore ways to cap the price of Russian oil.
Brent crude futures climbed by $1.98, or 1.72%, to $117.02 a barrel by 1153 GMT, adding to the
previous session's 1.7% gain. U.S. West Texas Intermediate (WTI) crude futures rose $1.65, or
1.5%, to $111.22, extending the previous session's 1.8% advance.
Oil price special
coverage

Leaders of the G7 group of wealthy nations said they will explore a potential ban on transporting
Russian oil that has been sold above a certain price as they seek to step up pressure on Moscow
over its invasion of Ukraine. read more
Russian oil export revenue climbed in May even as volumes fell, the International Energy Agency
said in its June report.
Western bans on Russia and its oil and gas output have led to a sharp rise in global energy prices
in recent months. But other major producers have yet to implement a significant boost to production.
Saudi Arabia and the UAE have been seen as the only two countries in the Organization of the
Petroleum Exporting Countries (OPEC) with spare capacity to make up for lost Russian supply and
weak output from other member nations.
"A seam of tight supply news bolstered the market. Two major producers, Saudi Arabia and the
UAE, are said to be at, or very close to, near-term capacity limits," Commonwealth Bank
commodities analyst Tobin Gorey said in a note.
French President Emmanuel Macron told U.S. President Joe Biden on the sidelines of the G7
meeting that the UAE was producing at maximum capacity and Saudi Arabia could increase output
by only 150,000 bpd, well below its nameplate spare capacity of about 2 million bpd. read more
UAE Energy Minister Suhail al-Mazrouei on Monday said that the UAE was producing near
maximum capacity based on its quota of 3.168 million barrels per day (bpd) under the agreement
with OPEC and its allies, a group known as OPEC+. read more
Analysts also said that political unrest in Ecuador and Libya could tighten supply further.
Libya's National Oil Corp on Monday said that it might have to declare force majeure in the Gulf of
Sirte area within the next three days unless production and shipping resume at oil terminals there.
Those factors underscore market shortages that have led to a rebound this week, countering
recession jitters that weighed on prices over the previous two weeks.

EIA estimates show a decrease in global surplus crude oil
production capacity in 2022 … source: U.S. Energy Information Administration,
Our new report, titled Global Surplus Crude Oil Production Capacity, provides estimates of global
surplus crude oil production capacity in both OPEC countries and non-OPEC countries. Preliminary
estimates for these data show that, as of May 2022, surplus capacity in non-OPEC countries
decreased by 80% compared with 2021.
The data show that, in 2021, 1.4 million barrels per day (b/d) of surplus production capacity was
available in non-OPEC countries, about 60% of which was in Russia. As of May 2022, we estimate
that all surplus production capacity in Russia was eliminated due to the sanctions implemented after
Russia’s full-scale invasion of Ukraine.
We determined that excess oil production capacity declined in other non-OPEC producing countries
as well. We estimate that, as of May 2022, producers in non-OPEC countries had about 280,000
b/d of surplus production capacity.
We define surplus capacity as the maximum existing capacity that can be brought online within 30
days and sustained for at least 90 days. Our assessment of surplus crude oil production capacity
does not include volumes of oil that are offline because of unplanned outages and disruptions,
including sanctions, because these volumes cannot be brought to market voluntarily.
For that reason, we exclude crude oil production that is offline in Iran, Libya, Venezuela, and now
Russia, from surplus capacity estimates.
Since 2003, we have tracked OPEC surplus capacity in a separate publication: the Short-Term
Energy Outlook (STEO). Global Surplus Crude Oil Production Capacity includes information about
surplus production capacity located in both OPEC and non-OPEC member countries, based on
STEO data.
Our estimates of global surplus crude oil production capacity now date back to 1970 and provide a
longer history of this measure. We define OPEC in terms of its current membership.

In our June STEO, we estimate that OPEC surplus capacity declined to 3.0 million b/d by May 2022
from 5.4 million b/d in 2021. As a result of the declines of surplus production capacity located in
both OPEC and non-OPEC countries, global surplus crude oil production capacity in May 2022 was
less than half of its 2021 average.
UAE producing close to max oil capacity based on Opec+ baseline, 3.168 MBPD
The UAE, Opec's third-largest oil producer, is producing close to its maximum oil capacity based on
the Opec+ alliance baseline, Suhail Al Mazrouei, Minister of Energy and Infrastructure, said on
Monday.
The country, which holds about 6 per cent of the
world's crude reserves, is producing 3.168m
barrels a day of oil in line with targets set by the
Opec+ agreement and is committed to this
target capacity “until the end of the agreement”,
Mr Al Mazrouei said.
In comments reported by Wam news agency, Mr
Al Mazrouei said he was making the clarification
in response to recent media reports.
This month at the Middle East and North Africa-
Europe Future Energy Dialogue in Jordan, he said the latest data showed Opec+ was running 2.6
million barrels a day short of its production target.
The 23-member super group of producers will meet on June 30 and is expected to stick with its
plans announced earlier this month. Opec+ this month agreed to increase its July and August output
by about 50 per cent to 648,000 bpd.
This will bring another 216,000 bpd on top of the scheduled 432,000 bpd coming to the market next
month. The increase will be divided proportionally among members of the alliance.
The planned August output increase will fully restore the 5.8 million bpd of output that was cut during
the Covid-19 pandemic.
“We believe that the Opec+ group will look to navigate a careful path between raising output to ease
supply shortages and exhausting the limited global spare capacity,” Abu Dhabi Commercial Bank
economists Monica Malik and Thirumalai Nagesh said in a report on Monday.
“The actual Russian oil flows to the global economy are also likely to play a critical role in shaping
the group output for September and the fourth quarter of 2022. We believe that Russia will remain
part of the Opec+ agreement, although it could be exempted from the output quotas amidst the
imposed sanctions.”
Brent, the global benchmark for two thirds of the world's oil, rose about 67 per cent last year.
It has rallied about 48 per cent this year as developed economies recover from the coronavirus
pandemic and at a time when Russia's military offensive in Ukraine is entering its fifth month and
the EU is pressing forward with plans to banning most Russian oil imports by the end of this year.
Market fundamentals remain tight as demand outpaces supply amid the war in Ukraine, rising
interest rates and looming recession concerns.
Brent was trading 1.31 per cent higher at $116.6 a barrel at 8.06am UAE time on Tuesday. West
Texas Intermediate, the gauge that tracks US crude, was up 1.19 per cent at $110.9 a barrel.

Opec’s revenue jumps 77% in 2021 on higher oil prices
Opec’s oil revenue jumped 77 per cent in 2021 as oil prices recovered from the impact of the
coronavirus pandemic on the back of higher demand. The total value of petroleum exports from the
member countries climbed to $561 bn
The total value of petroleum exports from the 13-member countries of the Opec climbed to
$561 billion last year, Opec said in its latest annual statistical bulletin on Tuesday.
Brent, the global benchmark for two thirds of the world's oil, rose about 67 per cent last year. It
has rallied about 48 per cent this year as developed economies recover from the coronavirus
pandemic and amid Russia's military offensive in Ukraine in addition to the EU pressing forward
with plans to ban most Russian oil imports by the end of this year.
Brent was trading 1.39 per cent higher at $116.7 a barrel at 12.48pm UAE time on Tuesday.
West Texas Intermediate, the gauge that tracks US crude, was up 1.31 per cent at $111 a
barrel.

NewBase Special Coverage
The Energy world –June -01 -2022
CLEAN ENERGY
Energy spend to surge 8% to hit $2.4trln in 2022: IEA
The growth investment is still far from enough to tackle the multiple dimensions of today’s energy
crisis and pave the way towards a cleaner and more secure energy future, the IEA’s World Energy
Investment 2022 report noted
Global energy investment is set to increase by 8% in 2022 to reach $2.4 trillion, with the anticipated
rise coming mainly in clean energy, according to a new report by the International Energy Agency
(IEA).
The growth investment is still far from enough to tackle the multiple dimensions of today’s energy
crisis and pave the way towards a cleaner and more secure energy future, the IEA’s World Energy
Investment 2022 report noted.
The fastest growth in energy investment is coming from the power sector – mainly in renewables
and grids – and from energy efficiency, according to the report. The rise in clean energy spending
is not evenly spread, however, with most of it taking place in advanced economies and China.
And in some markets, energy security concerns and high prices are prompting higher investment in
fossil fuel supplies, most notably on coal.
“We cannot afford to ignore either today’s global energy crisis or the climate crisis, but the good
news is that we do not need to choose between them – we can tackle both at the same time,” said
IEA Executive Director Fatih Birol.

“A massive surge in investment to accelerate clean energy transitions is the only lasting solution.
This kind of investment is rising, but we need a much faster increase to ease the pressure on
consumers from high fossil fuel prices, make our energy systems more secure, and get the world
on track to reach our climate goals.”
Clean energy investment grew by only 2% a year in the five years after the Paris Agreement was
signed in 2015. But since 2020, the pace of growth has accelerated significantly to 12%. Spending
has been underpinned by fiscal support from governments and aided by the rise of sustainable
finance, especially in advanced economies.
Renewables, grids and storage now account for more than 80% of total power sector investment.
Spending on solar PV, batteries and electric vehicles is now growing at rates consistent with
reaching global net zero emissions by 2050.
Tight supply chains are also playing a large part in the headline rise in investment, though. Almost
half of the overall increase in spending is a reflection of higher costs, from labour and services to
materials such as cement, steel and critical minerals. These challenges are deterring some energy
companies from picking up their spending more quickly.
From a low base, there is rapid growth underway in spending on some emerging technologies,
notably batteries, low emissions hydrogen, and carbon capture utilisation and storage. Investment
in battery energy storage is expected to more than double to reach almost $20 billion in 2022.
However, despite some bright spots, such as solar in India, clean energy spending in emerging and
developing economies (excluding China) remains stuck at 2015 levels, with no increase since the
Paris Agreement was reached.
Public funds to support sustainable recovery are scarce, policy frameworks are often weak,
economic clouds are gathering, and borrowing costs are rising. All of this undercuts the economic
attractiveness of capital-intensive clean technologies.
Much more needs to be done, including by international development institutions, to boost these
investment levels and bridge widening regional divergences in the pace of energy transition
investment.

Another warning sign comes in the form of a 10% rise in investment in coal supply in 2021, led by
emerging economies in Asia, with a similar increase likely in 2022. Although China has pledged to
stop building coal-fired power plants abroad, a significant amount of new coal capacity is coming
onto the Chinese domestic market.
Russia’s invasion of Ukraine has pushed up energy prices for many consumers and businesses
around the world, hurting households, industries and entire economies – most severely in the
developing world where people can least afford it.
Some of the immediate shortfalls in exports from Russia need to be met by production elsewhere,
notably for natural gas, and new LNG infrastructure may also be required to facilitate the
diversification of supply away from Russia. While oil and gas investment is up 10% from last year,
it remains well below 2019 levels.
Overall, today’s oil and gas spending is caught between two visions of the future: it is too high for a
pathway aligned with limiting global warming to 1.5 °C but not enough to satisfy rising demand in a
scenario where governments stick with today’s policy settings and fail to deliver on their climate
pledges.
Today’s high fossil fuel prices are generating pain for many economies but are also generating an
unprecedented windfall for oil and gas producers. Global oil and gas sector income is set to jump
to $4 trillion in 2022, more than twice its five-year average, with the bulk of it going to major oil and
gas exporting states.
These windfalls gains provide a once-in-a-generation opportunity for oil and gas producing
economies to fund the much needed transformation of their economies, and for major oil and gas
companies to do more to diversify their spending.
The share of spending by oil and gas companies on clean energy is rising slowly, with what progress
there is driven mainly by the European majors and a handful of other companies. Overall, clean
energy investment accounts for around 5% of oil and gas company capital expenditure worldwide,
up from 1% in 2019.

NewBase Energy News June 2022 - Issue No. 1525 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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