Malaysian state-run oil and gas company Petronas (Petroliam Nasional Berhad) has signed a binding heads of agreement with the Vietnamese state-owned oil and gas company Petrovietnam (PVN group) for the sales and purchase of additional gas volumes from Malaysia to Vietnam. Petronas will ship natural gas from its Malaysian operations to the Vietnamese province of Ca Mau in the Mekong delta, where a gas, 1.5 GW gas-fired power plant and fertiliser plant complex is operating (since 2008 for the CCGT power plant). The complex currently uses 2.2 bcm/year of gas from the offshore Block PM3CAA on the border with Malaysia. However, Petrovietnam expects to face a 1 bcm/year gas shortage soon, requiring additional gas imports.
Brazilian state-held oil and gas company Petrobras has started hydrocarbon production from P-77, the fourth platform to be put into production in the Buzios field in the pre-salt of Santos Basin offshore Brazil (approximately 210 km off the coast of the state of Rio de Janeiro) in 2019. P-77 is a floating production storage and offloading unit (FPSO) with the capacity to process up to 150,000 bbl/d of oil and to compress up to 6 mcm/d of natural gas. The deployment of the unit will increase Petrobras' production, in line with its 2018-2022 Business and Management Plan.
According to the British industry body Oil and Gas UK (OGUK), exploration and production companies will have to invest a total £200bn (approximately €230m) to fully exploit the domestic oil and gas sector, to realise industry’s Vision 2035 and to add a generation of productive life to the basin. According to OGUK, production has increased by 20% over the past five years, following 14 years of decline.
According to the United States Energy Information Administration (EIA), US renewable power generation achieved a new record of 742 TWh in 2018, which is almost twice the amount of 382 TWh produced in 2008. In total, renewables provided 17.6% of the US power generation in 2018 and 90% of the increase over the 2008-2018 period came from wind and solar power plants, since conventional hydroelectric capacity remained relatively stable (+2% since 2008, reaching 292 TWh in 2018, i.e. 6.9% of the US power mix).