Energy / Automotive News As Reported
London, March 06, (Oilandgaspress) Brent Crude stood at $85.51/bl, WTI Crude stood at $79.44/bl
Bola Ahmed Tinubu of the ruling All Progressive Congress (APC) emerged the winner of Oil producing Nigeria’s presidential election, INEC,the nation’s electoral body announced March 1. Mr Tinubu has promised to implement key reforms in the energy sector, ensure collaboration between security agencies and oil industry operators to stem oil theft and also abolish fuel subsidies.
A UK university has been tasked to look into ‘second-life’ applications for electric car batteries to reduce the huge environmental impact of existing disposal techniques.
Nottingham Trent University is part of a wider £4.5million research project to establish a process to recycle or reuse EV batteries.
This could help prevent up to nine million tons from being sent to landfill each year when the vehicles become mainstream.
A £582,000 grant has been awarded to the university’s Advanced Design and Manufacturing Engineering Centre as part of the European-wide ‘Rebellion’ project to understand more efficient ways for EV batteries to be reused or recycled. Read More
Teledyne FLIR, part of Teledyne Technologies Incorporated, announced a new Prism AI release featuring a compact AI model for simplified deployment on embedded systems. The new release further enables perception engineers to quickly integrate thermal cameras for advanced driver assistance systems (ADAS) and autonomous vehicle (AV) systems, improving object tracking performance by up to 24 percent compared to the previous Prism AI release.
“The improved Prism AI software model enables embedded system testing and development, empowering perception engineers to create more effective systems easier than ever before with thermal capabilities,” said Michael Walters, vice president of product management, Teledyne FLIR. “As the Teledyne FLIR AI ecosystem and tools continue to expand, we can offer integrators an unparalleled route to quickly test and decrease development costs for life-saving thermal-enabled ADAS or AV.”
Built for automotive perception system developers, Prism AI is a collaborative ecosystem providing seven object detection classes, visible-and-thermal image fusion, advanced thermal image processing capabilities, new shadow mode recording capabilities, batch data ingestion, and more. Together these features simplify the integration of automotive thermal sensors that provide superior pedestrian, animal, and vehicle detection, especially at night and in poor visibility. Read More
Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSE:TDY), announced that it has been awarded a $13.3 million contract by the U.S. Department of Defense to further expand the capabilities of its R80D SkyRaider™ unmanned aerial system to autonomously perform chemical, biological, radiological and nuclear (CBRN) reconnaissance missions.
Teledyne FLIR Defense will integrate flight control software that enables the SkyRaider Unmanned Aerial System (UAS) to autonomously fly CBRN missions currently performed by soldiers hand-carrying detection sensors into hazardous areas. Blending the new technology with SkyRaider’s existing capabilities will allow soldiers to complete these missions without directly controlling the drone – and without exposing themselves to toxic substances.
Teledyne FLIR also will design and build prototype chemical and radiological sensor payloads for the R80D SkyRaider, as well as integrate existing detectors in the U.S. Army’s inventory. This effort builds on three years of investment by several joint program offices to develop new and improved UAS capabilities for CBRN missions. Read More
Cutting Energy Costs, Reducing Loss and Downtime, Teledyne FLIR, is all set to showcase their Electric Utility Solutions product portfolio at Middle East Energy 2023 scheduled from 7th to 9th March at World Trade Centre. Exhibiting at Stand H4.E50, on display will be Energy saving solutions such as FLIR HD Thermal Camera with Viewfinder, Industrial Acoustic Imaging Camera, Optical gas imaging camera, and Extech Test & Measurement Solutions for Utilities Industry. Visitors at FLIR Teledyne stand can experience new energy solutions and technologies and perfect their own energy strategies. Middle East Energy provides a unique platform for energy leaders to debate and shape the future. Experts from across the region and beyond join forces to plot the best route through the energy transition. The ground-breaking product on display is Teledyne FLIR T1020 HD Thermal Imaging Camera. For decades, electrical and mechanical industries worldwide have recognised the importance of predictive maintenance programs, with thermal imaging cameras playing a significant role in their effective delivery. With an impressive temperature measurement range of -40˚C up to 2000˚C, up to 3.1MP resolution thermal imaging using FLIR’s UltraMax technology and a choice of 3 high-fidelity OSX precision HDIR lenses, the T1020 is a powerful tool for maintaining industrial systems. Read More
1PointFive, a carbon capture, utilization and sequestration company, announced it has leased, through an affiliate, more than 55,000 acres along the Texas Gulf Coast, to develop a carbon capture and sequestration hub with the capacity to hold approximately 1.2 billion metric tons of carbon dioxide (CO2). 1PointFive leverages the carbon management experience of its parent company Occidental. The Bluebonnet Hub is located in Chambers, Liberty and Jefferson counties near refineries, chemical plants and manufacturing facilities along the Gulf Coast from Beaumont to Houston. The hub, which is expected to be operational in 2026, will provide for CO2 captured off-site to be securely stored in saline formations that are not associated with oil and gas production. 1PointFive has completed drilling a stratigraphic test well and subsurface assessment to characterize the site’s ability to securely store CO2 and expects to apply for two Class VI permits in 2023. 1PointFive and a subsidiary of Enterprise Products Partners L.P. are furthering the development of a CO2 transportation solution to gather CO2 from regional emitters and deliver to 1PointFive’s hub. “We are progressing our plans to build sequestration hubs that will provide a solution for carbon intensive industries to help reduce their emissions,” said Jeff Alvarez, President, 1PointFive Sequestration. “This hub is located between two of the largest industrial corridors in Texas so captured CO2 can be efficiently transported and safely sequestered. Rather than starting from scratch with individual capture and sequestration projects, companies can plug into this hub for access to shared carbon infrastructure.” Read More
Tesla will cut assembly costs by half in future generations of cars, engineers told investors on Wednesday, but chief executive Elon Musk did not reveal when it will debut a much-awaited affordable electric vehicle (EV). Tesla shares fell more than 5 per cent in after-hours trade following the company’s investor day at its Texas headquarters.
More than a dozen Tesla executives led by Mr Musk discussed everything from a white-paper plan for the globe to embrace sustainable energy to the company’s innovation in managing its operations from manufacturing to service. Read More
EDP is scaling up its ambition to lead the energy transition by pushing even further its investment plan and targets in the updated Business Plan 23-26, which will be presented today in London. In a context in which climate emergency and security of supply are ever more preeminent, the group will increase its global investment to 25 billion euros to boost renewables, reinforce its position in electricity networks and support its clients in the transformation to a more sustainable world. The 23-26 Business Plan will support EDP’s net zero commitments and follows a selective and disciplined approach, allocating 85% of the total investment to renewables, clients and energy management and 15% to electricity networks across fast growing and low risk markets in 4 regional hubs: Europe (40% of the investment plan), North America (40%), South America (15%) and Asia-Pacific (5%). EDP’s yearly investment rate will increase by 30% to 6,2 billion euros, while maintaining a sustainable growth and ESG excellence within a future proof organization. €3Bn investment in digitalization and innovation to foster efficiency and a sustainable growth
Reiterated commitment to be coal free by 2025, 100% renewables generation by 2030 with a Net Zero emissions target by 2040 (SBTi approved)
Future proof organization creating 3000 new jobs by 2026 and communities’ empowerment through a €200m investment in social impact initiatives
Reiteration of BBB credit rating commitment, FFO/Net Debt of 21% in 2026
Recurring EBITDA of €5.7 billion by 2026, with a 6% CAGR in 2022-26
Recurring net income €1.4-€1.5 billion by 2026, with 12%-14% CAGR 2022-26
New dividend policy, with target payout ratio between 60-70% and an increase in dividend floor to €0.20 per share in 2026 Read More
Uniper, the Dusseldorf based, international energy company, announced today that its supervisory board intends to appoint E.ON UK CEO Michael Lewis to become the company’s new CEO. E.ON CEO Leonhard Birnbaum said: “Of course we very much regret that Michael is planning to leave E.ON but at the same time we know Uniper has made an excellent choice in him. We are currently in constructive talks with Uniper to reach an agreement on a suitable transition date.” In parallel, the selection process for a successor to Michael has begun. Until the transition is ensured, Michael Lewis will continue to lead the business of E.ON UK unchanged. Michael Lewis said: “After almost 30 years at Powergen and E.ON it will be a huge wrench to step away from this company but I am incredibly proud of all we have achieved in those years and of the dedication and pride of our people in helping customers and striving to improve and to innovate.” Read More
Neste has published its Annual Report 2022
The Annual Report 2022 includes the Strategy Review, the Sustainability Report, Corporate Governance Statement, Remuneration Report 2022, Review by the Board of Directors and Financial Statements 2022. The Sustainability Report is published only in English. The Annual Report is published in accordance with the European Single Electronic Format (ESEF) reporting requirements. The format is Extensible Hypertext Markup Language (XHTML), and the primary statements and the notes to the consolidated financial statements have been labelled with XBRL tags. Authorised Public Accountants KPMG Oy Ab has assured the XHTML file and the XBRL tags included in it. Neste refines waste, residues and innovative raw materials into renewable fuels and renewable and recycled feedstock for polymers and chemicals Download Report
Saab has received an order from Lithuania’s Defence Materiel Agency for Carl-Gustaf® ammunition. The order value is SEK 145 million and deliveries will start during 2024.
The order is placed within a framework agreement initially signed between Saab and the Swedish Defence Materiel Administration, which allows Lithuania, together with Latvia and Estonia, to place orders for Carl-Gustaf M4 weapons and ammunition during a ten-year period. “We are pleased to receive an additional order from Lithuania and are ready to continue to deliver our world-leading ground combat capabilities to the customer,” says Görgen Johansson, head of Saab’s business area Dynamics. Proven to deliver results on the battlefield, the Carl-Gustaf provides the effectiveness soldiers need. The wide range of ammunition types available for Carl-Gustaf makes it flexible and able to handle any situation on the battlefield, whether it is to destroy an armoured vehicle or structure, or illuminating the battlefield during night-time operations. Read More
The Worldwide Rig Count for February was 1,921, up 23 from the 1,899 counted in January 2023,and up 252, from the 1,669 counted in February 2022.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 03 March 2023 | 749 | -4 |
| Canada | 03 March 2023 | 246 | +2 |
| International | February 2023 | 915 | +1 |
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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