Saudi Arabia cut its crude oil production in 2017, under the OPEC agreement.
The 30 November 2016 agreement between OPEC countries and some large non-OPEC producers to cut oil production to firm up global prices translated into significant production cuts for Saudi Arabia, Kuwait, the UAE or Algeria, and to a stable production in Russia. The agreement succeeded in raising global oil prices, which incited non-OPEC countries such as the United States, Canada or Kazakhstan and OPEC countries exempted from cuts such as Iran or Nigeria to raise production. The Iranian oil production rose by 1/3 between 2015 and 2017, thanks to the end of international sanctions.
Conversely, crude oil production declined again in China to its lowest level since 2009, as low prices in 2016 prompted producers to cut investment in oil fields.
Oil production in Latin America contracted for the third year in a row, due to falling production in some large producing countries – oil output reached its lowest level since 1980 in Mexico and since 1990 in Venezuela – but it continued to increase in Brazil.
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According to the German Federal Environment Agency (Umweltbundesamt or UBA), renewable power production reached a new record in the first semester of 2018, with 117 TWh generated, which is 10% more than in the first half of 2017 (+10 TWh). Wind power plants generated 57 TWh, with 26 TWh from biomass and biogas waste installations, 24 TWh from solar PV units and 10 TWh from hydropower plants.
According to the World Nuclear Association latest performance report, global nuclear power generation grew for the fifth year in a row and reached 2,506 TWh (+1.2% from 2,477 TWh in 2016). At the end of 2017, the global nuclear capacity stood at 392 GWe spread across 448 reactors, which is 2 GWe more (+0.5%) than at the end of 2016.
The Algerian oil and gas company Sonatrach has announced a nine-year gas supply contract with Spain for 9 bcm/year. Algeria is intensifying commercial relations with Europe, as Gas Natural Fenosa renewed its gas supply agreement with Sonatrach until 2030 in June 2018. Sonatrach currently supplies around 9.8 bcm/year to Gas Natural Fenosa.
The German and Dutch power transmission network operators Amprion and TenneT will integrate the first circuit of the 380 kV interconnection line between Doetinchem in the Netherlands and Niederrhein in Germany into the CWE market on 25 August 2018. The interconnection capacity between the two countries will then increase by 750 MW, from 5 000 MW to 5,750 MW, and by another 750 MW to 6,500 MW when the second circuit goes live in November 2018.