Top Energy/Automotive News; US crude stockpiles fell by about 400,000 barrels on average in the week to June 16.
London, 22 June, 2023, (Oilandgaspress) : EPA Finalizes New Renewable Fuel Standards to Strengthen U.S. Energy Security, Support U.S. Rural Economy, and Expand Production of Low-Carbon Fuels Final rule sets balanced biofuels growth from 2023 to 2025, reducing reliance on up to 140,000 barrels of foreign oil imports per day. The final rule also discusses EPA’s intent to monitor the ongoing implementation of the RFS program and its impacts on domestic refineries, which have a critical role to play in our energy security.
800 units of My Ami Buggy sold out
Citroën’s new limited edition “My Ami Buggy” went on sale online in 8 countries starting from 11 a.m. on Tuesday, 20th June. More than 20,000 visits were made to the selling site, and the 800 units of this new My Ami Buggy series intended for the online sale were snapped up in just 10 hours.
While in 2022 only 50 units were available, what’s more only in France, in 2023 the 800 units of the new edition were proposed in France, Italy, Spain, Belgium, Portugal, the UK, Luxembourg and Greece. The remaining 200 of the 1,000 available in 2023 will be sold at retail outlets during the summer in Turkey, Morocco and the French overseas departments and territories.
In France, 430 My Ami Buggy were sold out in just over 2 hours, with a peak of 300 sales per hour! The enthusiasm for My Ami Buggy following the success of the previous version is confirmed.
In Belgium, it took just 9 minutes to sell out the 65 My Ami Buggies allocated to the country, beating the 17 minutes and 28 seconds it took to sell the 50 units of 2022 in France. In Spain, one customer holds the record for being the fastest to complete the entire digital purchasing process. It took him 1 minute and 10 seconds to buy his My Ami Buggy. A record beaten by 1 minute and 43 seconds compared with last year! In June 2022, it took the fastest customer 2 minutes and 53 seconds to select the exclusive version of Ami, confirm the order, choose the delivery method and make payment.
My Ami Buggy promises its buyers to enjoy their leisure activities in a relaxed, stylish and cheerful way. It makes micro-journeys easier thanks to its ease of use and conveys a feeling of adventure and freedom, while staying on the beaten track.
My Ami Buggy stands out for its lack of doors, its removable roof and its khaki colour. It’s got an adventurous character with its wheel arches, its front and rear bumpers and its golden wheel rims. The bright yellow of the decorations and accessories, combined with a new sun visor, gives it a fresh, dynamic look. Read More
During the period from June 12 to June 16, 2023, Eni acquired on the Euronext Milan no. 5,417,589 shares, at a weighted average price per share equal to 12.9818 euro, for a total consideration of 70,330,273.86 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
Embraer and GKN Aerospace, both renowned leaders in the aerospace industry, announced a collaboration agreement on cutting-edge hydrogen technological development programmes. The partnership aims to accelerate the implementation of hydrogen technologies in aviation, reducing emissions and paving the way for a more sustainable future. The collaboration will also explore the potential for a hydrogen flight demonstrator. The agreement is part of Embraer’s commitment to the global efforts to collaborate with the Air Transport industry’s commitment to achieve net zero carbon by 2050. Together, both companies will leverage their extensive expertise and resources to actively support the development of innovative Hydrogen Fuel Cell technology, as well as optimize airframe systems integration. GKN Aerospace is at the forefront of ground-breaking collaborative hydrogen programs across the Netherlands, Sweden, and the UK. Read More
Embraer signed a Letter of Agreement (LoA) at the 54th Paris Airshow with Lanzhou Aviation Industry Development Group for 20 E190F and E195F E-Jets Passenger-to-Freight Conversions (P2F). Embraer and Lanzhou intend to cooperate on establishing of E190F and E195F conversion capability in Lanzhou, China, which will support and accelerate the introduction of E-Jet first generation freighters to Chinese market. The cooperation will serve as an initial starting point for both companies to leverage their strengths, jointly promote the development of Lanzhou’s air transportation industry, and boost the economy around the airport. With the signing of this LoA, Lanzhou Group, becomes the launch customer for Embraer’s P2F conversion in China, and the base in China for Embraer’s P2F conversions. Read More
Embraer has signed a long-term Pool Program services agreement with Star Air
to support the airline’s growing E175 fleet. Star Air has leased four E175s in 2022 and two of them have started operations since May 2023. The contract provides access to the Pool Program, which includes component exchanges and repair services for a wide range of repairable components for the airline’s E175s. The E175 Pool Program agreement is in addition to the ongoing pool program for Star Air’s fleet of five ERJ145s. Star Air’s 12-month average schedule reliability stands at 99.67%, one of the highest among ERJ145 operators.
“We thank Star Air for their continued trust in us as they expand the Pool Program coverage across their growing fleet. We stand hand in hand with them as they further connect several regions of India,” says Johann Bordais, President & CEO, Embraer Services & Support. “As Star Air spreads its wings across the country, the Pool Program will enable us to leverage on the reliability and performance of the E175s and the expertise of Embraer’s support and services team,” says Capt. Simran Singh Tiwana, CEO of Star Air. Star Air’s operations will benefit from the AHEAD (Aircraft Health Analysis and Diagnosis) Premium which comprises early detection capabilities by monitoring systems trends and patterns, to increase aircraft availability, minimizing unexpected maintenance downtime, reducing technical interruptions, and avoiding flight cancellations. This is aimed at enhancing the dispatchability of Star Air’s E175 fleet. Star Air is an all-Embraer jet operator, and flies to multiple destinations across India, both scheduled and non-scheduled (charter) flight services. Star Air is the first airline to offer business class seats on regional routes.
The Embraer Pool Program is designed to allow airlines to minimize their upfront investment in high-value repairable inventories and resources, while taking advantage of Embraer’s technical expertise along with its vast component repair service provider network. The results are significant savings on repair and inventory carrying costs, reduction in required warehousing space, and the virtual elimination of the need for resources required for repair management, while ultimately providing guaranteed performance levels. Currently, the Pool Program supports more than 50 airlines worldwide. Read More
Republic Airways Joins Embraer’s Energia Advisory Group
Republic Airways, one of the largest U.S. regional airlines, has joined Embraer’s Energia Advisory Group. The Energia Advisory Group is a team of airlines, lessors, suppliers, and other aviation experts advising Embraer’s Energia project which is developing sustainable aircraft for the future. The MoU signed with Embraer will see the companies working together to define and establish the real-world requirements for sustainable, emission free, and commercially viable, aviation. Working alongside other advisory group members, the companies will collaborate to define requirements such as infrastructure, ground handling, aircraft performance (range, speed, etc.), and cargo space etc. The Energia Advisory Group will help accelerate time to marketand ultimately help decide which Energia aircraft will come to market first.
Arjan Meijer, President & CEO, Embraer Commercial Aviation, said, “Republic, one of Embraer’s largest customers and one of the main regional carriers in the US, is an important addition to the diverse team of experts advising Embraer on this essential area of innovation. Republic’s expertise will be invaluable in progressing this exciting program forward – welcome to the team!” Embraer’s Energia project explores a range of sustainable concepts to carry up to 50 passengers. The project is considering a number of energy sources, propulsion architectures and airframe architectures to reduce carbon emissions by 50% starting from 2030 – a key step in our goal to be net carbon neutral by 2050. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $72.35 | Up |
| Crude Oil (Brent) | USD/bbl | $76.87 | Up |
| Bonny Light | USD/bbl | $76.44 | Up |
| Saharan Blend | USD/bbl | $77.18 | Up |
| Natural Gas | USD/MMBtu | $2.59 | Up |
| OPEC basket 21/06/23 | USD/bbl | $77.24 | Up |
An Airbus H125 helicopter belonging to State Grid Space Technology Co., Ltd (SGST) has successfully used sustainable aviation fuel (SAF) for a flight demonstration at Hefei Shiwan Airport in China. This is the first helicopter flight using SAF in China, marking an important milestone in the development of low-carbon aviation in Chinese aeronautics. The H125, which is powered by a Safran ARRIEL 2D engine, flew at a hybrid ratio of 40% of SAF provided by CNAF (China National Aviation Fuel).
“The success of this flight is of great significance to stimulate SAF promotion and its application,” said Du Guihe, Board Chairman of SGST. “It makes a positive impact on the enterprises which are proactive on low-carbon general aviation development. It is also a breakthrough for China’s general aviation industry to better implement carbon emission reduction in the post-pandemic era.” Read More
Kazakh court throws out $5.1 billion environmental claim
A regional court in Kazakhstan has dismissed a claim of $5.1 billion brought by the Kazakh Environmental Protection Ministry against North Caspian Operating Company (NCOC), the operator of the largest offshore oil project in the country, Kashagan.
The court’s ruling in favor of the consortium comprising supermajors, including ExxonMobil, was made public after hearings were held in May and June, Upstream reported on Wednesday. Kazakhstan’s massive oilfield Kashagan, which pumps around 400,000 barrels per day (bpd), is operated by a consortium of firms, North Caspian Operating Company (NCOC), which includes Kazakhstan’s state firm KazMunayGas, as well as Italy’s Eni, U.S. ExxonMobil, UK-based Shell, France’s TotalEnergies, China National Petroleum Corporation (CNPC), and Japan’s Inpex. Read More
OMV Petrom takes the Final Investment Decision for the Neptun Deep project; OMV Petrom, the largest integrated energy company in South-Eastern Europe, along with its partner Romgaz, has made the Final Investment Decision for the development of the Neptun Deep project in the Black Sea. OMV Petrom is the operator of the project, with a 50% participating interest. The two companies approved the development plan for the Domino and Pelican South commercial natural gas fields in the Neptun Deep offshore block, which is being submitted to the National Agency for Mineral Resources (NAMR) for endorsement. Read More
OMV Petrom and Romgaz announce the decision to develop Neptun Deep
OMV Petrom, the largest integrated energy company in South-Eastern Europe, and Romgaz, the largest producer and main supplier of natural gas in Romania, approved the development plan for the Domino and Pelican South commercial natural gas fields in the Neptun Deep block. This will be submitted to the National Agency for Mineral Resources for endorsement. OMV Petrom is the operator, with each company having a 50% interest in the project. OMV Petrom and Romgaz will invest up to EUR 4 bn for the development phase of the project, which will enable ~100 bcm of natural gas to be brought on stream. Read More
Iranian Foreign Minister Hossein Amir-Abdollahian said on Wednesday that the implementation of agreements signed between his country and Oman had made “good progress” over the past 18 months. After meeting his Omani counterpart Sayyid Badr Hamad al-Busaidi in the Omani capital of Muscat earlier in the day, Amir-Abdollahian told reporters that he had “important and constructive” talks with the Omani minister, during which they had discussed the implementation of the agreements signed between Iranian President Ebrahim Raisi and Sultan of Oman Haitham bin Tariq Al Said, particularly those inked after the latter’s visit to Tehran in late May, Iran’s official news agency IRNA reported. The two ministers also discussed bilateral cooperation in the fields of economy, trade, transportation, energy, science, technology and tourism, IRNA quoted Amir-Abdollahian as saying, adding that the two countries agree to hold the next round of meeting for a joint economic commission in the near future.
The Omani foreign minister said he and his Iranian counterpart exchanged views on the latest regional and international developments, on which the two countries share similar views according to the Xinhua news agency. Read More
Iraqi Oil Minister Hayan Abdul-Ghani on Sunday invited international energy companies to bid for contracts to explore and develop natural gas in 11 blocks in Iraq.
Of the 11 blocks eight are located in Anbar Province in western Iraq, one in the northern province of Nineveh, one in an area between the provinces of Anbar and Najaf, and one between Anbar and Nineveh, Abdul-Ghani said in a statement issued by the oil ministry. The ministry has completed its preparations for the bidding round, he added. Iraq opened its oil and gas sector for foreign investment in 2009.
In May, Abdul-Ghani said the country’s oil reserves increased by 10 billion barrels and its natural gas reserves by eight trillion cubic feet after a three-dimensional seismic survey near Basra, a key oil hub located about 550 km south of the capital Baghdad. The new figures would raise the proven reserves of Iraq’s crude oil to about 155 billion barrels and natural gas to about 140 trillion cubic feet according to the Xinhua news agency. Read More
China’s largest offshore crude oil base
China’s largest offshore crude oil producer, Bohai Oilfield, has produced upwards of 500 million tonnes of crude oil so far, said China National Offshore Oil Corporation’s Tianjin branch. Since the Bohai Oilfield was put into production over a half-century ago, more than 50 oil and gas fields and more than 190 production facilities have been built. A total of five oil fields with oil and gas reserves exceeding 100 million tonnes have been discovered in the Bohai Sea area during the past five years. Read More
Shell reportedly said on Wednesday that its Olympus offshore platform in the Gulf of Mexico was in the process of ramping up production after maintenance.
The Olympus platform was offline for planned overhauls, starting June 7. The offshore hub, along with its Mars and Ursa platforms that underwent turnarounds last year, produce Mars sour crude. (Reuters) Read More
According a policy, jointly released by China’s Ministry of Finance (MoF), Ministry of Industry and Information Technology (MIIT), and the State Taxation Administration (STA), NEV purchase tax will be exempt for purchases made between 2024-2025 and will be halved (5%) between 2026-2027. In addition, the tax exemption amount should not exceed RMB 30k (RMB 1 = $0.1391) per car in 2024-2025 and should not exceed RMB 15k per car in 2026-27.
When it was reported that tax incentives could be extended by four more years a few weeks ago, UBS analysts believed the incentives could retreat over time as EV penetration increases and gains rising competitiveness over ICE cars. Compared to original expectations of 0%, 2.5%, 5% and 7.5% tax rate for 2024-27, the actual policy is slightly more generous than expected. China first began exempting NEVs from purchase tax in September 2014 for the development of NEVs. The policy expired at the end of 2017 and was extended until the end of 2020. In April 2020, China extended the policy again until the end of 2022. In September 2022, government announced that the purchase tax exemption for NEVs would continue until the end of 2023. Read More
Chinese electric automaker, Xpeng Inc revealed in a press release Wednesday, their decision to choose ACCESS Twine to provide vehicle infotainment to the EV maker’s new range of electric vehicles, beginning with the P7 Sedan. Moving forward, existing XPeng drivers will also have the option to upgrade their cars to include ACCESS’ Twine4Car IVI through an over-the-air (OTA) software update. The Twine4Car Platform is an industry-leading automotive content and app service for connected car infotainment, enabling OEMs to provide branded entertainment services. ACCESS is also providing XPeng with a new game portal that includes console-class games with the latest high-compression streaming technology, enabling users to play even with low-speed connections. Read More
Lars Korinth will become the new Head of Investor Relations in the Volkswagen Group from autumn 2023 onwards. In this role, he succeeds Julian Krell, who is leaving the company at his own request on June 30, 2023. Korinth already knows the company from his time as Senior Investor Relations Manager at Volkswagen and most recently as Head of Investor Relations at TRATON SE. In his new role, Lars Korinth will report to Rolf Woller, Head of Group Treasury and Investor Relations. Read More
Hyundai’s Zero-Emission Vehicle Lifestyle
Hyundai Motor Company, Hyundai Mobility Japan and lifestyle content company Culture Convenience Club (CCC) today signed a memorandum of understanding (MOU) to co-create sustainable lifestyle services for the zero-emission-vehicle (ZEV) era.
The partnership aims to further facilitate Hyundai Motor’s efforts to satisfy Japanese customers with zero-emission vehicles and online sales since its re-entry into the market in February 2022. With the accelerated transition to electrification, Hyundai Motor and CCC’s strategic partnership aims to expand the new mobility lifestyle in Japan and beyond to global markets. Read More
| Region | Period | Rig Count | Change |
| U.S.A | 16 June 2023 | 687 | -8 |
| Canada | 16 June 2023 | 159 | +23 |
| 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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