LNG & Oil
With a focus on universal energy business, ENN Energy aims to explore and develop a modern energy system that meets the needs of users and prioritizes clean energy. The company recognizes the opportunities presented by the "dual-carbon" policy and energy system reform and is committed to the development of four major customer segments: low-carbon parks, low-carbon factories, low-carbon buildings, and low-carbon transportation.
ENN Energy adopts a tailored approach, considering local conditions and integrating multiple energy sources to create an efficient and sustainable energy system. The company designs optimal energy supply schemes, taking into account factors such as load forecasting, to ensure reliable and cost-effective energy provision.
In addition to energy supply, ENN Energy actively engages in energy-consuming side service businesses. This includes offering energy-saving solutions, optimizing processes, and providing energy facility management services. By focusing on terminal energy saving and process optimization, the company contributes to reducing energy consumption and improving overall efficiency.
Furthermore, ENN Energy embraces the opportunities in distributed photovoltaics and strategically invests in energy storage business. The company explores innovative solutions like the "Heyuan Network Storage" concept, aiming to enhance project revenue and deliver reliable and sustainable energy services. ENN Energy's project planning incorporates various low-carbon energy sources such as biomass, photovoltaics, geothermal, natural gas, and energy storage, forming a comprehensive pan-energy approach.
Through these initiatives, ENN Energy is dedicated to advancing the development of a modern energy system that aligns with the principles of sustainability, clean energy, and efficient utilization of resources.
The National Development and Reform Commission and the National Energy Administration have issued an Implementation Plan to promote the high-quality development of new energy in China's new era. This plan provides comprehensive guidance on the development and utilization of new energy sources, with a focus on accelerating the construction of a power system that can accommodate the increasing proportion of new energy. It also emphasizes the need to improve the construction and management of new energy projects, secure land and sea resources for new energy development, and support the industry through fiscal and financial means.
China, as a large energy-consuming country, has a high degree of dependence on foreign energy sources, particularly with around 70% of crude oil being imported. It is imperative to vigorously develop the new energy industry and enhance energy security. The goal is to reduce dependence on imported energy and improve the overall energy landscape of the country.
The global economic situation has been influenced by factors such as the US interest rate hike and the rising value of the US dollar index. However, the over-issuance of the US dollar has led to global inflation and occasional national bankruptcies, causing chaos in the global economy. In response to this situation, Russia has taken a bold step known as "de-dollarization," which involves reducing its reliance on the US dollar. Russia's crude oil exports, impacted by sanctions, have shifted from the European market to the Asia-Pacific market. This shift is accompanied by considerations of infrastructure construction and the settlement currency issue.
There have been reports that recent Indian refinery purchases of Russian oil, while denominated in US dollars, are actually settled in the UAE currency dirham. Additionally, the Chinese yuan has become an option for settlement. This trend of "de-dollarization" initiated by Russia is challenging the dominance of the US dollar. If "de-dollarization" continues or expands on a larger scale, it could lead to a loosening of supply and demand for the US dollar and a potential depreciation of the dollar's value.
It is important to note that the impact and outcome of "de-dollarization" are complex and depend on various factors. Changes in the global economic landscape and the role of different currencies will continue to evolve, and it remains to be seen how these developments will affect the supply and demand dynamics and the value of the US dollar in the future.