The refinery aims to produce very low-sulfur fuel oil that meets IMO standards and will be located near the port of Fujairah, Brugg said.
Blue Ocean Energy will be responsible for building the refinery and funding the construction costs. Brooge will be responsible for operating the refinery and collecting tolls in the form of tolls. Brooge said the agreement between the two companies includes a 20-year processing plant contract, which includes a five-year contract that will begin after the refinery is completed, and three five-year renewals.
“The modular refinery will focus on VLSFO production and will fully comply with the new IMO 2020 very low sulfur regulations,” said Nicolaas Paardenkooper, CEO of Brooge Energy. “As the UAE increases its oil production capacity, we expect this to drive demand for refining services in the domestic and export markets. We believe this is a good time to enter this field of the oil industry.”
Blue Ocean Energy FZE could not be contacted immediately Comment.
Electric vehicles have become the main choice for decarbonization in the global transportation sector. Although some may hope that the electric vehicle revolution will overturn all existing technologies, existing biofuels can continue to play a key role.
In this podcast, Brazil is analyzed as an example that the transition to electric vehicles is not as urgent as in other countries, because the widespread adoption of ethanol has significantly reduced emissions at a competitive cost.
The Middle East Solar Energy Industry Association stated: “After an unprecedented year like 2020, the pandemic has not affected the solar market as severely as expected.” “The integration of energy storage solutions is attracting the attention of many industry professionals. Experts. It is believed that energy storage will quickly become popular in the near future to build a stable energy system. In mid-2021, it will be has launched the momentum for the integration of multiple renewable projects, which can be witnessed by most countries in the Middle East and North Africa. “MESIA said 4,444 solar developers were forced to raise their prices due to the skyrocketing price of polysilicon. In some cases, they have revised their “price reduction policy”. In the past, several Middle East solar projects, including Abu Dhabi, Dubai, and most recently Saudi Arabia, have set record low electricity costs. According to the report, the price of polysilicon
has been rising since March and has recently risen 10% from the level of the fourth quarter of 2020, even if the factory is operating at a speed of 100. S&P Global Platts Analytics expressed concern about rising prices for solar PV modules in April and noted that polysilicon and shipping costs have risen.
“As material shortages continue to increase in Q1 2021, they cannot withstand cost pressure,” MESIA stated in the report. “Ultimately, manufacturers in the industry changed their price reduction policies and increased their offer prices. Many others notified customers of the price increase.” Access of
to the polysilicon “becomes difficult,” he added. MESIA stated in the report that
developers are waiting for Qatar to release the procurement process for the 800 MW solar plan, while Morocco has extended the bid for the first phase of the 400 MW Noor II photovoltaic solar power plant from January to August.
Bahrain’s first 100 MW solar power project built at the Askar landfill won the bid in 2019, but it was postponed until the financial end, and Iraq’s first solar tender with a total capacity of 750 MW was “significantly delayed”. According to the report, 2019.
In Oman, the largest utility-scale renewable energy project Ibri II is expected to start production this year, with a capacity of 500 MW. 4,444 According to reports, in addition to adding 2.97 gigawatts of capacity to seven solar projects, Saudi Arabia also changed its regulations this year to allow private companies to sell electricity to customers.
At the same time, there is growing interest in floating solar storage in the UAE, he said.