Energy & Resources Talking Points | 25/10/2016


In today’s talking points: Australian Renewable Energy Agency to invest AUD120m on solar-wind-battery project; Shaanxi energy hub embraces Belt and Road’s opportunities; Angola becomes China’s largest oil supplier in September; China’s increasingly high-profile billion dollar purchases

Australian Renewable Energy Agency to invest AUD120m on solar-wind-battery project

Australian Renewable Energy Agency (ARENA) has committed up to AUD 18 million to fund the building of the first phase of solar-wind-storage project by Windlab and Eurus that will deliver renewable energy on demand. Kennedy Energy Park will be the number one large-scale solar, wind and battery installation that connects to the Australia’s national electricity market. This ‘triple offering’ provides the best combination of continuous energy supply. According to Frischknecht (AREAN CEO), “Kennedy will demonstrate how Australia can exploit its wealth of natural resources to deliver sustainable, competitive energy supply for the future”.

Read more at Energy Storage

Shaanxi energy hub embraces Belt and Road’s opportunities 

Yulin is an ancient hub in NorthWest China’s Shaanxi province, and is ready to benefit from the Belt and Road Initiative. The city’s strategic geographic location and bountiful mineral resources provide an opportunity to connect China and other countries along the ancient land and maritime silk roads, with Yulin being the start of the ancient Silk Road. It has become a major economic force and begun exploring new means of development and connect with the whole world. Under the Belt and Road Initiative, the city has been actively forging new ties, for instance its coal-related products have been exported to countries along the route such as Kazakhstan and India.

Read more at China Daily

Angola becomes China’s largest oil supplier in September

Angola has overtaken Russia as the leading cruide oil supplier to China last month. 1.02 million barrels a day were exported, up by 45.8% compared to last year. Comparitively, Russian exports of oil to China dropped by 2.14%. The large increase of Angolan oil shipments to China should not be a surprise, since Angola also topped the Chinese foreign oil suppliers list in July. Over the last two months, China has steadily increased it oil imports, despite declining domestic production.

Read more at Oil Price

China’s increasingly high-profile billion dollar purchases 

China’s HNA Group has announced that it has purchased a 25% stake in Hilton Worldwide from Blackstone Group for $6.5 billion. China Oceawide Holdings Group Co has also struck a deal to acquire US Genworth Financial for $2.7 billion. The deals comes as part of a new wave of Chinese deal makers purchasing foreign assets at the fastest pace in history. Chinese overseas acquisitons have totalled a record $199 billion so far this year. Many of the buyers have built successful multibillion dollar empires in China however are hardly known internationally.

Read more at Wall Street Journal