Top Energy/Automotive News As Reported;
London, 14 June, 2023, (Oilandgaspress) : A new report from the European industry group finds that the main challenge to the UK’s solar rollout comes not from the sun, but “chronic underinvestment” in the country’s transmission and distribution networks.
Volkswagen and U.S. Women’s National Soccer Team launch #WeBelieve fan campaign
The U.S. Soccer Women’s National Team has launched its new #WeBelieve campaign, presented by Volkswagen, to gather personal messages from the fans to show the bond between the players on the field and those who will be cheering them on across the nation, and the world.
With Volkswagen’s help, fans can now submit their messages of support, thanks and encouragement for the USWNT before the team embarks on its journey to New Zealand and Australia to compete for the biggest prize in international soccer. Messages can be submitted online at ussoccer.com/webelieve, through the official U.S. Soccer App or via social media using the hashtag #WeBelieve.Fan messages will be featured across the USWNT’s digital channels during its matches against Vietnam (July 21, 9 p.m. ET), the Netherlands (July 26, 9 p.m. ET), and Portugal (Aug. 1, 3 a.m. ET), continuing the show of support as the USWNT competes for its fifth major international title. In addition to the launch of #WeBelieve, as of today fans can purchase the new 2023 USWNT Volkswagen pre-match top at the U.S. Soccer Store. Read More
RAM launches the 3.6-liter Pentastar V-6 engine with eTorque mild-hybrid system at the German MXGP
The eTorque Pentastar V-6 engine provides RAM enthusiasts in Europe with many new features and shows the difference electronic components can make on conventional engines. In particular, the powerful engine, which is capable of delivering 305 horsepower and 364 Nm of torque, offers significant fuel-economy benefits due to the innovative eTorque mild-hybrid system, which replaces the traditional alternator. In fact, the unit is powered by a 430-watt-hour lithium-ion nickel manganese cobalt (NMC) graphite battery pack which, when running, provides a 48-volt current during both launch and gear shifting. The battery can also rely on a 3-kilowatt DC-to-DC converter to retain a conventional 12-volt starter motor, which gets used for cold starts due to its greater efficiency in extreme temperatures. In fact, one of its main strengths is its fast stop-start functions combined with superior performance. From a fuel consumption perspective, the Pentastar V-6 engine reports a combined fuel consumption figure which is 19% EPA (Environment Protection Agency) lower than the 5.7-litre V8 engine. Its advanced technologies, such as wide-range variable valve-timing and two-step variable valve lift, deliver the optimal blend of power and fuel economy based on the driver’s demand. A cooled exhaust gas recirculation system enables improved fuel economy and emissions performance at higher loads. Meanwhile, a compression ratio of 11.3:1 delivers an optimal balance of power, fuel efficiency and refinement. Energy recovery from deceleration and braking allow for an increased towing and payload capacity and battery pack recharging. Finally, the additional torque at the crankshaft minimizes noise, vibration and harshness (NVH). This comfortable combination not only enables better fuel management, but also an improved and easier driving experience that appeals to a wider audience. In this way, the Brand is also able to reach a younger audience which is always looking out for what’s new and interested in driving cars that combine great performance with gritty aesthetics—the Brand’s hallmarks. Overall, the eTorque Pentastar V-6 engine offers a better total cost of ownership than its competitors and, not surprisingly, has collected several awards in recent years as one of the 10 best engines and propulsion systems of the year. Read More
BYD to build first sodium-ion battery factory
BYD, the world’s largest EV maker after Tesla, is also one of the biggest battery manufacturers in the industry. It recently started supplying Tesla with affordable iron phosphate batteries for the base Model Y, but its investment in cheaper chemistries will soon be expanding with sodium-ion cells.
The EV battery company FinDreams that BYD spun off a couple of years back has entered a joint venture agreement for business development of its sodium-ion battery production with Huaihai Holding Group. The two will create the largest sodium-ion battery factory for small electric vehicles, using BYD’s manufacturing expertise, while Huaihai’s extensive network will provide the sales and marketing. Read More
BYD to build sodium-ion battery production base in Xuzhou.
BYD (OTCMKTS: BYDDY) will set up a joint venture with a local conglomerate to build a sodium-ion battery production base, the first time we’ve seen it move forward in building capacity for this alternative to lithium batteries.
Huaihai Holding Group and BYD’s battery unit FinDreams signed a strategic cooperation agreement at BYD’s Shenzhen headquarters on June 8, according to a press release from Huaihai. The two parties will establish a joint venture to build a sodium-ion battery production base in Xuzhou Economic and Technological Development Zone in Jiangsu province to jointly create the world’s largest supplier of sodium battery systems for micro vehicles, according to the press release. Read More
OPEC to celebrate its 60th Anniversary in Bagdad on 16 June
The Organization of the Petroleum Exporting Countries (OPEC) will celebrate its Diamond Anniversary on Friday, 16 June 2023, in Baghdad, Iraq.
The celebration was originally scheduled for September 2020 in the Al-Shaab Hall in the Bab Al-Muaatham, the site of OPEC’s founding. However, it was postponed multiple times due to the COVID-19 pandemic and related impacts on health and travel.
HE Hayan Abdulghani Abdulzahra Alsawad, Iraq’s Deputy Prime Minister for Energy Affairs and Minister of Oil, said: “Iraq is proud of hosting this historic celebration. We look forward to welcoming all OPEC Member Countries and our partners in the Declaration of Cooperation to the highly anticipated event in Baghdad. It is time for the Organization to celebrate all the accomplishments it has achieved throughout the last six decades and more.”
HE Haitham Al Ghais, OPEC Secretary General, said: “The celebration will provide the entire OPEC Family with an opportunity to reflect on our exceptional history and celebrate our success, as well as to renew our commitment to the key principles that have underpinned the Organization’s work since foundation. Remembering our past can serve as an inspiration for achieving a bright and successful future.”
Iraq and the city of Baghdad, together with the OPEC Secretariat, have developed a full programme of festivities, including various cultural activities. The Government of Iraq has additionally renovated the Al-Shaab Hall in preparation for the celebration. More details will be provided in due course.
OPEC is an intergovernmental organization that was established at the historic Baghdad Conference held on 10-14 September 1960 by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Its membership has grown since then to 13 oil-producing countries. Read More
Secondary sources issue May 2023 production levels
The decision of the 35th OPEC and non-OPEC Ministerial Meeting, held on 4 June 2023, adjusted crude oil production levels for OPEC and Declaration of Cooperation non-OPEC Participating Countries starting 1 January 2024 until 31 December 2024, including Russia at 9.828 mbd based on the crude oil production level for the month of February 2023. The decision stated that this level was “subject to revision by June 2023 as the country is currently working with the secondary sources to update production figures”. Based on the latest figures provided by the secondary sources, Russia’s crude oil production in February 2023 has now been revised to stand at 9.949 mbd, and this will be considered as the updated required production for Russia for January 2024 to December 2024. It is worth noting that Russia crude oil production in May 2023 stood at 9.533 mbd, which is 0.416 mbd lower than February 2023 level, according to secondary sources. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $68.68 | Up |
| Crude Oil (Brent) | USD/bbl | $73.65 | Up |
| Bonny Light | USD/bbl | $73.35 | Up |
| Saharan Blend | USD/bbl | $74.13 | Up |
| Natural Gas | USD/MMBtu | $2.33 | Up |
| OPEC basket 13/06/23 | USD/bbl | $73.06 | Up |
IEA’s Monthly Oil Statistics
latest IEA’s Monthly Oil Statistics report including March 2023 data shows that for Total OECD:
• Total OECD production of crude oil, NGL and refinery feedstocks increased by 5.4% in March 2023 compared to March 2022.
• Refinery gross output of total products decreased by 0.8% on a year-on-year basis.
• Net deliveries of total products increased by 0.2% in March 2023 compared to March 2022. • Oil stock levels on national territory decreased by 7 245 kilotons in March 2023 compared to the closing stock levels in February 2023 and closed at 471 million metric tons. Read More
Eni Reports on the purchase of treasury shares
During the period from June 5 to June 9, 2023, Eni acquired on the Euronext Milan no. 5,000,000 shares, at a weighted average price per share equal to 13.0743 euro, for a total consideration of 65,371,600.00 euro within the authorization to purchase treasury shares approved by the Shareholders’ Meeting on 10 May 2023, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999. On the basis of the information provided by the intermediary appointed to make the purchases, the following are details of transactions for the purchase of treasury shares on the Euronext Milan on a daily basis: Read More
$533mln centre for fuelling ships
The Saudi Port Authority (MAWANI) will build a 2 billion riyals ($533 million) centre for supplying ships with fuel.
MAWANI signed an agreement with the Ministry of Energy to establish an integrated bunkering centre in King Fahd Industrial Port at Yanbu on the Red Sea coast, according to a tweet from the port authority.
According to MAWANI, the centre will be built in a 393,000 sqm facility.
The partnership is a continuation of the efforts made to enhance the Kingdom’s pivotal position to supply fuel to ships transiting through the Red Sea, it said. Read More
Oman’s huge renewable hydrogen
Oman’s high-quality renewable energy resources and vast tracts of available land make it well placed to produce large quantities of low-emissions hydrogen – a fledgling industry today that can attract investment to diversify and expand the country’s export revenues while reducing its natural gas consumption and emissions, according to a new IEA report released today.
IEA Executive Director Fatih Birol presented the new report, Renewable Hydrogen from Oman: A Producer Economy in Transition, to Oman’s Minister of Energy and Minerals Salim Al Aufi during a roundtable meeting with senior IEA leaders and analysts at the Agency’s headquarters in Paris. It is the first IEA report of its kind that analyses renewable hydrogen potential in a fossil fuel producer country. The analysis builds on the IEA’s ongoing technical cooperation with Oman to support the country’s clean energy transition.
Oman aims to produce at least 1 million tons of renewable hydrogen a year by 2030, up to 3.75 million tonnes by 2040 – and up to 8.5 million tonnes by 2050, which would be greater than total hydrogen demand in Europe today. The 2040 hydrogen target would represent 80% of Oman’s current LNG exports in energy-equivalent terms, while achieving the 2050 target would almost double them. Read More
Ratcliffe-on-Soar power station readied to boost supply in UK
A coal-fired power station in Nottinghamshire has been warmed up to cope with expected higher energy demand in the warm weather.
The National Grid asked Ratcliffe-on-Soar power station to step in on Monday as it expected high demand from the use of cooling devices.
A 500MW unit – one of four there – had been due to close in September.
However, an agreement was made to extend its life by two years after Russia’s invasion of Ukraine.
Coal has not been used to generate energy for the National Grid in Britain for 46 days.
Ratcliffe-on-Soar power station owners Uniper were asked to fire up the facility at a time when available wind power is relatively low, energy supplies from Europe have been limited, and some generation facilities are unavailable.
Demand for electricity is generally much lower in summer than in winter.
As a result, this is when power stations are most likely to be taken offline for maintenance.
However, the UK experienced the hottest days of the year so far over the weekend – with temperatures peaking at 30.3°C across the East Midlands on Sunday – leading to an expected increase in devices including air conditioners and fans as people seek ways to cool off. Read More
Consumers and Businesses Look to WaterSense
To mark 75 years of Porsche sports cars, the Stuttgart-based manufacturer initiated an extensive fundraising campaign during the Le Mans 24-hour race: For each of the race laps completed by the three factory Porsche 963 racers, 750 euros went into a special funds in support of the “Racing for Charity” campaign.The Porsche Penske Motorsport hybrid prototypes completed a total of 733 laps at the 100th anniversary of the world’s largest endurance event. On the occasion of its anniversary, Porsche topped up the donated amount of 549,750 euros to 911,000 euros. The money will go to three charitable organisations. The associations Kinderherzen retten and Interplast Germany e.V. will each receive 350,000 euros from the special funds raised by the “Racing for Charity” campaign. The money will be used to help children from developing and crisis regions who suffer from heart disease, injuries, deformities or burns. The remaining 211,000 euros will go to the Ferry Porsche Foundation, which was launched in May 2018 to mark the 70th anniversary of the Porsche brand. Thanks to donations from “Racing for Charity”, some of the load on seriously ill children and their families will be lifted so that they can enjoy some lighter moments.The U.S. Environmental Protection Agency released its 2022 WaterSense Accomplishments Report today, noting that consumers using WaterSense labeled products saved more than 1.1 trillion gallons of water in 2022. Since, EPA’s WaterSense program was launched in 2006, consumers and businesses have saved more than 7.5 trillion gallons of water by purchasing water-saving plumbing fixtures and irrigation products.
WaterSense partners and works with more than 2,000 utilities, communities, manufacturers, home builders, retailers, and other organizations to produce and promote toilets, faucets, showerheads, spray sprinkler bodies, irrigation controllers and homes that are independently certified to use less water and perform well. Americans can look to the WaterSense label to save water, energy, and money. Read More
| Region | Period | Rig Count | Change |
| U.S.A | 02 June 2023 | 695 | -1 |
| Canada | 02 June 2023 | 136 | +39 |
| International | May 2023 | 965 | +18 |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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