CARIBBEAN ENERGY UPDATE

ISSUE 2019

JAN/FEB

CARIBBEAN ENERGY UPDATE A Publication of the Caribbean Energy Information System on Petroleum and Renewable Energy ©CEIS 2019

+1-876-927-1779 ceis@src-jamaica.org www.src.gov.jm www.cipore.org www.cippet.org www.ceebip.org www.ceis-caribenergy.org

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The Caribbean Energy Update

PETROLEUM Energy

Additives and Fuel Why are additives added to Fuel?

From alcohols and ethers to benzenes and paraffins, additives claim to enhance the quality of fuels and boost performance of the engines they're used to power. The modifiers promise to address issues like weak acceleration, low mileage and rough idling, as well as enhance overall engine performance and keep engines running clean. While the benefits of fuel additives are often hotly debated, they remain a popular product at consumer petrol stations.

in terms of acceleration, efficiency and maximum speed. Motorists find these promises hard to resist, whether they’re driving a trusty family wagon or a top-ofthe-range sports car. Octane boosters also claim to reduce emissions, which can be an attractive selling point for eco-friendly motorists.

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E

ngine Maintenance

Some fuel additives are designed to promote a healthy engine and actively • oost octane levels Increasing the octane rating of fuel is one of target corrosion, act as lubricants and the most popular functions of additives like alcohols, prevent build-up of trace deposits. When it ethers and manganese. When added to the tank they comes to older cars, mechanics assert that as well as cleaning up the fuel injection work to improve engine performance in terms of

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process, fuel additives can reduce carbon build-up in the engine valves and promote an even burn in the combustion chamber. Additives are also coveted by car owners who maintain engines built before

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the 1970s, which were designed to run on leaded gasoline. These sorts of additives are designed to help retro engines run on modern, unleaded gas.

A Glimpse at Olefins lefin content is an important factor in fuel production Olefin is a compound

comprising hydrogen and carbon, with at least one pair of carbon atoms.

Those atoms are linked by a double bond, which – along with the hydrogen and carbon content – makes them an unsaturated hydrocarbon.

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lso known as alkene, olefins can vary in the number of double bonds per molecule, making them mono-olefins, diolefins, triolefins and so forth. They can also be categorised as either cyclic or acyclic. Cyclic olefins have a double bond between carbon atoms which makes up a closed ring of compounds. On the other hand, acyclic olefins form an open-chain group.

Methanol to Olefins One of the newest and fastest growing markets for methanol is the production of light olefins, primarily taking place in China. Olefins – ethylene and propylene – are the backbone of the plastics industry and are typically produced from the steam cracking of hydrocarbons such as ethane and naphtha. In regions that do not have access to low cost ethane or

more expensive naphtha, methanol can be used as a feedstock for olefins production.

According to IHS, we have seen staggering growth in methanol consumption into this end use with as many as seven MTO units running by the end of 2015. With three tons of methanol used to produce every ton of olefins, MTO has become the sixth largest methanol derivative in just four years of commercial existence.

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CARIBBEAN

Petroleum Energy Highlights January/February 2019

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Melbana Energy inks agreement...[ ]... Read More Energy Dept role is to optimize oil and gas...[ ]... Read More Government Reiterates Commitment to Safeguard ...[ ] Read More • No gas tax rollback Exploring methanol as a fuel additive...[ ]...Read More

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University of Guyana set to launch ...[ ]...Read More Oil prices drop as China economic...[ ]...Read More Just twenty-eight days more Guyanese benefiting ...[ ]..Read More Announcement: Completion of Phase I upgrade...[ ]... Read More Gallons changed to liters…[ ]...Read More Guyana secures IDB loan to boost Energy Dep’t... [ ]... Read More

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St. Vincent: Government announces increase taxes...[ ]...Read More Trinidad: PM wants technology to play greater role ...[ ]...Read More Fayval Williams the new Energy Minister..[ ] Read More Tullow advances Guyana drilling programme...[ ]...Read More Petrojam To Spend US$37m To Diversify...[ ]...Read More Jamaica Government Pursuing Legislation...[ ]...Read More

• ‘Fresh Impetus’ For Oil Explorer...[ ]...Read More

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The Caribbean Energy Update

Regular Unleaded Gasoline Average Retail Price (US$/Litre) January/February 2019 JAN $1.81

Barbados

FEB $1.79

$1.24

Belize

$1.28

$1.15

Cayman Islands

$1.12

$1.25

Dominica

$1.25

$1.16

Grenada

$1.15

$1.08

Guyana

$1.04

$1.10

Jamaica

$1.11

$1.15

St.Lucia

$1.15

$0.74

Trinidad&Tobago

$0.74

At the end of February 2019, retail prices for Regular Unleaded Gasoline decreased in Barbados, Cayman Islands, Grenada and Guyana between 0.2% and 4%. Prices increased in Jamaica by 1.4% and in Belize by 3.2% respectively. Prices remained stable in Dominica, St.Lucia as well as Trinidad &Tobago.

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The Caribbean Energy Update

PRICES

International Crude Oil Prices from December 2018 to February 2019 trended upwards over the three months period. The average price recorded was US$54.45/bbl in February 2019. This average price was 10.9% higher than the average price seen in December 2018 and 7.5% higher than the average price in January 2019. The lowest price recorded for the commodity over the period was US$45.22/bbl-reflected in week four of December 2018.

The highest price for recorded was US$56.74 /bbl recorded in week four of February 2019.

Average Weekly Oil Prices December 2018 - February 2019 60.00

56.74

US$/Bbl

50.00 40.00

45.22

30.00 20.00 10.00 0.00 Period

WK1

WK2

US$/Bbl

Dec-18

80 70 60 50 40 30 20 10 0

WK3 Jan-19

WK4

MTH AVG

Feb-19

Average Monthly Crude Oil Prices 2016-2018 65.02 50.80 43.10

2016

2017

2018

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CARIBBEAN

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ENERGY MINISTERS’

Bulletin

Renewable Resources

Scientific Developments

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A New Way to Measure Despite many benefits and relative popularity renewable energy source, eventually, the Solar Panel Degradation assunadoes set on even the best solar panels. Over

time, solar cells face damage from weather, temperature changes, soiling, and UV exposure. Solar cells also require inspections to maintain cell performance levels and reduce economic losses.

So, how does one inspect panels in real time, in a way that is both cost-effective and timeefficient? Parveen Bhola, a research scholar How does one inspect solar panels in real time, in a way that at India’s Thapar Institute of Engineering is both cost-effective and time-efficient? Researchers have now developed and improved statistical and machine learning-based and Technology, and Saurabh Bhardwaj, an alternatives to enable real-time inspection of solar panels. Their associate professor at the same instituresearch found a new application for clustering-based tion, spent the last few years developing and computation, which uses past meteorological data to compute improving statistical and machine performance ratios and degradation rates. learning-based alternatives to enable real-time C A R I B B E A N E N E R G Y I N F O R M AT I O N S Y S T E M ( C E I S ) | 2 0 1 9 inspection of solar panels.

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Their research found a new application for clustering-based computation, which uses past meteorological data to compute performance ratios and degradation rates. This method also allows for off-site inspection.

Clustering-based computation is advantageous for this problem because of its ability to speed up the inspection process,

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preventing further damage and hastening repairs, by using a performance ratio based on meteorological parameters that include temperature, pressure, wind speed, humidity, sunshine hours, solar power, and even the day of the year. The parameters are easily acquired and assessed, and can be measured from remote locations.

How Much Can Forests Fight Climate plant vast numbers of trees to absorb carbon Change?

Trees are supposed to slow global warming, but growing evidence suggests they might not always be climate saviours.

dioxide from the atmosphere in an attempt to slow climate change. But emerging research suggests that trees might not always help as much as some hope.

Forest schemes got a big boost from the 2015 Paris climate accord, which for the first time counted all countries’ efforts to offset their carbon emissions from fossil-fuel use and other sources by planting or protecting forests. China aims to plant trees over an area up to four times the size of the United Kingdom. California is allowing forest Source: flickr.com owners to sell credits to CO2-emitting Kapur trees (Dryobalanops aromatica) in Malaysia avoid companies, and other US states are overlapping crowns as they grow, which creates a jigsawconsidering similar programmes, which puzzle pattern when viewed from below. could motivate projects that establish When it comes to fighting global warming, new forests and protect existing ones. trees have emerged as one of the most popular weapons. With nations making little progress The European Union is moving towards controlling their carbon emissions, many allowing countries to include forest planting governments and advocates have advanced plans to in their plans to fight climate change; some

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The Caribbean Energy Update

Country Happenings CAYMAN ISLANDS BMR Energy acquires 5MW Cayman Islands solar plant.

BMR Energy announced today its acquisition of a 5 MW solar plant in the Cayman Islands from Entropy Cayman Solar I. The Virgin Group company will take over all operations of the country’s only utility-scale solar project and the power purchase agreement with the local utility, Caribbean Utilities Company, Ltd. (CUC). The Bodden Town Solar Farm includes a total of....[ ]...

ST.VINCENT/GRENADINES IRENA Updates on 10–15 MW Geothermal Energy Project The IRENA/ADFD Project Facility represents a partnership between the two key organisations to promote renewable energy in developing countries.

This report by the International Renewable Energy Agency (IRENA)and the Abu Dhabi Fund for Development (ADFD) reviews concrete progress over the first five years of their joint facility to finance such projects....[ ]...

BRITISH VIRGIN ISLAND BVI Moves Forward With Renewable Energy Opportunities for Residents and Investors: In November 2018, the BVI brought into force Renewable Energy Regulations made under a 2015 amendment to the British Virgin Islands Electricity Corporation Act. The BVI is well positioned to generate several forms of renewable energy—wind, solar and hydro energy being the most obvious. Consumer-generated wind energy has been used on the outer islands for several years, under a more restrictive legislative framework that was in place.

The new legislation provides an opportunity for anyone to become a consumer-generator and offers a broad range of renewable energy alternatives in addition to those mentioned above, including...[ ]...

2019 Events • 4th World Congress on Petroleum and Refinery May 20-21 2019 Osaka Japan • International Conference on Sustainability, Energy and the Environment June 3-5, 2019 Hawaii Convention Centre, Honolulu, USA • GEOLAC 2019: 6th Geothermal Congress for Latin America and the Caribbean July 17-18, 2019 Santiago, Chile • CARILEC: Renewable Energy & Smart Grid Conference and Exhibition September 15-19, 2019 Miami, Florida

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