UAE energy minister: No change in OPEC policy amid oil slide

ABU DHABI, United Arab Emirates (AP) — The energy minister for the United Arab Emirates said yesterday his country is concerned about the balance in the oil market but added that OPEC does not plan to shift its strategy to shore up falling crude prices.

Oil prices have lost well over half their value since late June, with benchmark US prices now trading below US$45 a barrel.

OPEC, a 12-member bloc that includes the Emirates, decided at its last meeting in November to keep its production levels unchanged. A decision to cut production could have helped boost prices, a move that would also benefit rivals including higher-cost producers benefiting from the US oil-shale boom.

Emirati Energy Minister Suhail Bin Mohammed al-Mazroui suggested his country believes OPEC’s move is still the right one despite the steep sell-off, and said the organisation will likely wait until its next meeting in June before considering any change in strategy.

“We cannot continue just protecting a certain price,” al-Mazroui said at an energy conference in the Emirati capital, Abu Dhabi.

He said the Emirates is “concerned about the balance of the market but we cannot under any circumstances be the only party that is responsible to balance the market.”

View the original article here

UAE energy minister: No change in OPEC policy amid oil slide

Gasolene retailers, RUBIS Energy Company to negotiate tomorrow

Tuesday, January 13, 2015 | 6:57 PM    

KINGSTON, Jamaica — President of the Jamaica Gasolene Retailers Association (JGRA), Leonard Green, is hopeful that retailers will get a fair deal on Wednesday at the meeting to be chaired by Energy Minister Phillip Paulwell, between itself and RUBIS Energy Company.

However, he told the OBSERVER ONLINE that the matter would “remain unsettled” if the dealers are not treated fairly.

The dealers and the marketing company have been at loggerheads since late last year, over the stringent terms in their new contracts, which the JGRA head said could put some dealers out of business.

“We believe that it’s not really settled until we come to an equitable solution and that is what we are fighting for. We are not unmindful of the interest of the company. Our arguments are very well grounded,” he contended.

Green said the dealers are prepared to negotiate as long as there is progress in the negotiations.

RUBIS marketing manager, Raymond Samuels, is insistent that the contracts are not one-size-fits-all, and that the company is prepared to negotiate new contracts with each dealer.

“Each dealer is different, so clearly you have to manage them individually. So those terms such as whether they pay cash on delivery, secured or unsecured credit, those have to be done on an individual basis,” he said.

Meanwhile, Paulwell told the OBSERVER ONLINE that he is aiming to broker a long-lasting settlement between the parties.

“We just can’t afford to have any disruption in the industry at this time,” he said, adding, “Eventually we are going to involve all the marketing companies, because we need to have a long-term solution.”

Alphea Saunders

Like our Facebook page https://www.facebook.com/jamaicaobserver

Follow us on Twitter https://twitter.com/JamaicaObserver

View the original article here

Gasolene retailers, RUBIS Energy Company to negotiate tomorrow

EU, Spain, IDB to help Caribbean develop renewable energy

Monday, September 29, 2014 | 9:44 AM    

NEW YORK, (CMC) – The Inter America Development Bank (IDB) says it is prepared to work with donor organisations and countries to avoid duplication on projects as the Caribbean seeks to reinforce collaboration in the field of renewable energy.

“Our long and close relationship with the Caribbean has allowed us to gain extensive knowledge of the region’s current conditions and future needs and of what it will take to achieve its energy targets,” said IDB President Luis Alberto Moreno following the signing of a joint declaration involving the European Union, Spain and the IDB on energy efficiency in the Caribbean.

The IDB said renewable energy and energy efficiency can help the Caribbean accelerate its development, mitigate the impacts of climate change and achieve greater energy security.

“By renewing its commitment to renewable energy and energy efficiency, the partnership will work to foster conditions for attracting more investments in sustainable energy; identifying, replicating and scaling up best practices, and coordinating policies and activities among Caribbean states,” the IDB said.

It said the renewed collaboration will also explore opportunities such as involving the private sector and civil society in energy-related efforts, and promoting the use of sustainable energy technologies and solutions to limit the negative consequences of energy generation, among other issues.

Like our Facebook page https://www.facebook.com/jamaicaobserver

Follow us on Twitter https://twitter.com/JamaicaObserver

View the original article here

EU, Spain, IDB to help Caribbean develop renewable energy

Beenie chastises Ele - Doc responds to Energy God"s statements

Beenie Man

Popular deejay Beenie Man has come out with all guns blazing following an article earlier this week when Elephant Man chastised him.

In an interview with the WEEKEND STAR earlier this week, the ‘Energy God’ made comments about the entertainer that didn’t seem to go down well with the King of the Dancehall. Beenie Man left no stones unturned in his response to the deejay.

In a release sent to the WEEKEND STAR, Beenie Man was quoted as saying; “Elephant a you bad mind, cause a me Hot 97 call for an interview and you vex say it wasn’t you.”

He also accused the artiste of using him to keep his name current. “Elephant, is looking a hype because he is not hot but I have no beef with him. If Ele want to buss back come we sit down and plan a strategy but don’t run to media and smear my name for a hype,” he said.

address the issue

Elephant Man

Elephant Man also made claims that Beenie Man was selfish, stating that after years in the industry, Beenie Man has never helped to propel another artiste’s career. Beenie Man used the opportunity to address that issue.

“I can honestly say that all the artistes in Shocking Vibes were highlighted because of Beenie Man, I helped to nurture their careers (and) we built a powerful camp,” he said. He went on to say that he continues to build careers, highlighting the role he has played in establishing the careers of up-and-coming artistes Kantana and Rayted.

Beenie Man also commented on Ele’s claim that he doesn’t own a studio stating that he owns two. “He says I have no studio. Who own them? He is right I don’t own a studio I own two,” he said.

357 is a recording studio on Mannings Hill Road in St Andrew.

Beenie Man believes that Elephant Man has been excluded from this year’s Reggae Sumfest line-up and that it is a testament to his decline in the industry. “If Ele is hot why isn’t he on any of the big shows like Sumfest? We know Johnny wouldn’t pass Ele if he was hot,” he said. The artiste even went as far as to state that in previous years, Elephant Man paid off promoters of the popular reggae show just so he could be added to the line-up.

When the WEEKEND STAR reached out to Beenie Man for additional comments, we were informed that the artiste was unavailable for any more interviews.

Elephant Man’s comments had stemmed from comments made by Beenie Man in an interview with Hot 97, a United States-based radio station. In that interview, Beenie Man described a number of artistes including Elephant Man as ‘broken down’ and claimed himself as the balance in dancehall stating that every time something falls apart he’s the one to fix it.

View the original article here

Beenie chastises Ele - Doc responds to Energy God"s statements

Beenie chastises Ele - Doc responds to Energy God"s statements

Beenie Man

Popular deejay Beenie Man has come out with all guns blazing following an article earlier this week when Elephant Man chastised him.

In an interview with the WEEKEND STAR earlier this week, the ‘Energy God’ made comments about the entertainer that didn’t seem to go down well with the King of the Dancehall. Beenie Man left no stones unturned in his response to the deejay.

In a release sent to the WEEKEND STAR, Beenie Man was quoted as saying; “Elephant a you bad mind, cause a me Hot 97 call for an interview and you vex say it wasn’t you.”

He also accused the artiste of using him to keep his name current. “Elephant, is looking a hype because he is not hot but I have no beef with him. If Ele want to buss back come we sit down and plan a strategy but don’t run to media and smear my name for a hype,” he said.

address the issue

Elephant Man

Elephant Man also made claims that Beenie Man was selfish, stating that after years in the industry, Beenie Man has never helped to propel another artiste’s career. Beenie Man used the opportunity to address that issue.

“I can honestly say that all the artistes in Shocking Vibes were highlighted because of Beenie Man, I helped to nurture their careers (and) we built a powerful camp,” he said. He went on to say that he continues to build careers, highlighting the role he has played in establishing the careers of up-and-coming artistes Kantana and Rayted.

Beenie Man also commented on Ele’s claim that he doesn’t own a studio stating that he owns two. “He says I have no studio. Who own them? He is right I don’t own a studio I own two,” he said.

357 is a recording studio on Mannings Hill Road in St Andrew.

Beenie Man believes that Elephant Man has been excluded from this year’s Reggae Sumfest line-up and that it is a testament to his decline in the industry. “If Ele is hot why isn’t he on any of the big shows like Sumfest? We know Johnny wouldn’t pass Ele if he was hot,” he said. The artiste even went as far as to state that in previous years, Elephant Man paid off promoters of the popular reggae show just so he could be added to the line-up.

When the WEEKEND STAR reached out to Beenie Man for additional comments, we were informed that the artiste was unavailable for any more interviews.

Elephant Man’s comments had stemmed from comments made by Beenie Man in an interview with Hot 97, a United States-based radio station. In that interview, Beenie Man described a number of artistes including Elephant Man as ‘broken down’ and claimed himself as the balance in dancehall stating that every time something falls apart he’s the one to fix it.

View the original article here

Beenie chastises Ele - Doc responds to Energy God"s statements

Jamaica pursuing biofuels research to increase energy options

In a bid to diversify the country’s energy options, the Petroleum Corporation of Jamaica (PCJ) has announced that it is collaborating with the Ministry of Agriculture on biofuels research.

This project is aimed at identifying plants that can be cultivated locally and converted into fuels, according to Julian Robinson, Minister of State in the Ministry of Science, Technology, Energy & Mining.

“This would have positive implications for our farmers, who would have new income earning opportunities, and for players in our transport sector, who would have a more affordable alternative to imported fuel,” Robinson said, while delivering the opening address on Monday at a two-day PCJ  Alternative Energy Expo,  at the Jamaica Pegasus Hotel, in New Kingston.

Incentives

Robinson reiterated that, in 2012 the Government, in its quest to promote alternative energy, removed General Consumption Tax (GCT) from renewable energy systems, and in 2013, it suspended the Common External Tariff on selected pieces of machinery and equipment commonly used in the sector.

“The role of energy in Jamaica’s social development and economic progression cannot be overstated, so where there is competition, let us ensure that there is collaboration. If there is disagreement, let us ensure there is resolution, because our common future depend on our ability to adequately address the issue of energy security,” he said.

The expo provides exposure for local and international alternative energy providers to demonstrate the latest and emerging energy efficiency products designed to reduce energy usage. It is open to the public free of cost.

SOURCE: JIS

View the original article here

Jamaica pursuing biofuels research to increase energy options

Energy committee urges more due diligence in 360MW project

The Government’s proposed 360 megawatt power plant was again thrust into the public spotlight with a call by the Energy Monitoring Committee (EMC) yesterday for more due diligence on the project.

According to the EMC, a number of “important items” need to be thoroughly checked before the Office of Utilities Regulation (OUR) can make a positive recommendation to the Government for a licence to be granted to Energy World International (EWI), the preferred bidder on the project.

The EMC said that what was needed was:

* A thorough absorption of any substantive information in the due diligence report followed by a forum to solicit the preferred bidder’s responses to these potential issues;

* Gaining a better understanding of the progress of current projects being pursued by EWI-related entities to ensure there are no adverse ramifications for Jamaica’s bid; and

* Focusing on the financial capability of the preferred bidder, including evidence of commitment with the usual qualifiers from its bankers/equity sources, as would be expected in a project that is greater than US$700 million in size.

The EMC made the call after noting that since its last meeting with the OUR on the issue, a Power Purchasing Agreement (PPA) was ratified and a due diligence report was submitted by the Revenue Protection Division of the Ministry of Finance & Planning to the OUR.

But the EMC said it had not yet received specific information on the PPA, as it is awaiting consent from the counterparties to that agreement. However, it expects to have a summary of the key terms by early this week.

“This information will allow us to monitor commitments made by the preferred bidder on an ongoing basis with respect to their role as the power provider in the PPA,” the committee said.

“As it relates to the due diligence report, while we understand the confidentiality of such a document, given that reports of this nature typically cite sources who give testimony and thereby need to be protected, we have requested, through the OUR, that this report be released in an abridged version to the EMC and other important stakeholders,” the committee added, noting that the next step in the bid process is the granting of a licence to the preferred bidder.

The 360 megawatt project aims to slash, by one-third, Jamaica’s energy costs which, at US40 cents a kilowatt-hour, has been identified as a significant contributor to the country’s inability to increase production and attract more investments.

But the project has been mired in controversy after the OUR, in October 2013, cancelled the preferred bidder status it had granted to United States-based consortium Azurest-Cambridge because the firm failed to meet its deadline to produce a bid security of one per cent of its proposed US$690-million investment.

The OUR then promoted Hong Kong-based firm EWI to the position, further fuelling controversy over EWI’s entry to the process more than a month after the bids had closed.

With controversy continuing to dog the project, the Government, last December, partnered with private sector lobby groups to form the EMC in an effort to ensure that the bid process was followed in the manner prescribed by the OUR.

The EMC is also mandated to ensure that at the culmination of the process, the price of electricity provided by the licensee to Jamaica Public Service Company does not exceed US$0.1288 per kWh.

The EMC is co-chaired by Carlton Davis and Peter Melhado and comprises Fitzroy Vidal and Michelle Forbes from the Ministry of Science, Technology, Energy and Mining; William Saunders, energy consultant to the Government; Simon Roberts of the Jamaica Manufacturers’ Association; Noel daCosta from the Jamaica Chamber of Commerce; Jeanette Calder representing the Jamaica Civil Society Coalition; and Lloyd Goodleigh of the Jamaica Confederation of Trade Unions.

View the original article here

Energy committee urges more due diligence in 360MW project

Energy watchdog "failing consumers"

29 July 2013 Last updated at 04:16 ET John Robertson, MP: “When we ask for figures they don’t give it”

Energy regulator Ofgem is not doing enough to ensure that energy company profits are transparent, MPs say.

The Energy and Climate Change Committee (ECCC) report said the watchdog was “failing consumers by not taking all possible steps to improve openness”.

The committee said that “working out exactly how their profits are made requires forensic accountants”.

Ofgem said it had made energy companies produce yearly financial statements and they had been reviewed by accountants.

Sir Robert Smith, on behalf of the committee, said: “At a time when many people are struggling with the rising costs of energy, consumers need reassurance that the profits being made by the ‘big six’ are not excessive.”

The big six are E.On, SSE, British Gas, Npower, EDF and Scottish Power.

They have different divisions to deal with the different functions of their businesses: generation, trading and supply.

The committee said that the divisions sometimes bought and sold services and energy from each other, making it difficult to work out how much money was being made overall.

“Greater transparency is urgently needed to reassure consumers that high energy prices are not fuelling excessive profits,” the committee said.

Angela Knight, Energy UK: “The profit an energy company makes is not big but households are concerned”Poor communication

The MPs criticised Ofgem for having a “relatively light touch approach and for not fully implementing the recommendations of the accountants it commissioned to improve how energy companies report their profits”.

“Ofgem needs to use its teeth a bit more and force the energy companies to do everything they can to prove that they are squeaky clean when it comes to making and reporting their profits,” said committee member John Robertson.

Ofgem agreed that the energy suppliers had been “poor at communicating with their customers”.

“Ofgem has made energy companies produce yearly financial statements, which have been reviewed twice by independent accountants and found to be fit for purpose,” said Ofgem’s senior partner for markets, Rachel Fletcher.

Continue reading the main story

The committee believes that Ofgem should force energy companies to:

Standardise their bills to make it easier for consumers to compare the value for money of different energy providersBreak down the total cost of the bill into its components, ie wholesale energy prices, supply costs, the cost of implementing government energy policies, operating costs, and profitGive consumers details of price changes in pounds and pence, and not just in percentages Which? executive director Richard Lloyd said that the public would not feel that they were paying a fair price for energy until prices were simplified and the costs that went into generating them were as transparent as possible.

“We want the government to introduce simple energy pricing and a clear ring-fence between generation and supply businesses, so consumers can see exactly what they’re paying for and be more confident that there is effective competition in the energy market,” he said.

Angela Knight, the chief executive of Energy UK, the body that represents the energy companies, said the industry had come a long way on transparency.

“There are fewer tariffs and the new deals are clearer so it is easier to compare, bills have been simplified so they are easier for customers to follow and it is simple to switch from one supplier to another,” she said.

Ms Knight told the BBC that “profit was a good thing and a very important thing”, because of the investment the energy companies need to make in generation and infrastructure.

She added that the energy companies provided Ofgem with all the necessary information.

“Energy companies all publish annual accounts and, in addition, both the generation and supply parts of the business provide Ofgem with all the information about revenues, costs and profits for which the regulator asks,” she said.

Fuel poverty

The Energy and Climate Change Committee also reprimanded the government for not doing enough to help low-income families struggling with fuel poverty.

The committee argued that the use of levies on fuel bills to raise funds for social and environmental programmes could end up hitting those on low incomes.

Instead, they recommended such funding be raised through direct taxation.

Sir Robert said: “Tax-funded public spending is a less regressive mechanism than levies on energy bills, which can hit some of the poorest hardest. Shifting the emphasis from levies to taxation would help protect vulnerable households.”

View the original article here

Energy watchdog "failing consumers"