Energy / Automotive News As Reported; Oil prices edged higher on Tuesday due to tighter supplies
London, 26 July, 2023, (Oilandgaspress) : U.S. crude oil imports averaged 7.174 million barrels per day (b/d) last week, up by 1.294 million b/d from the previous week, while crude oil exports averaged 3.814 million b/d, up by 1.67 million b/d from the previous week, according to the Weekly Petroleum Status Report. Read More
FIAT Professional supports E-GAP, Europe’s mobile and on-demand recharging operator for electric cars, with a fleet of E-Scudo, thus helping to make the recharging of full-electric vehicles easier, faster and stress-free. The fleet includes 60 Fiat Professional E-Scudo Vans equipped with a 50kWh battery pack with a maximum power output of 100 KW (136 hp) and a maximum torque of 260 Nm. Features that result in instantaneous responsiveness, but no vibration, no noise, and, of course, no CO2 emissions while driving.
E-GAP is an urban, mobile, and on-demand fast charging service. Through the smartphone app of the same name, customers can get a fast, stress-free home charging performed via zero-emission e-vans. The service is currently present in Italy (in Rome, Milan, Bologna, Turin, Verona, Brescia and Trento), France (in Paris), Spain (in Madrid) and Germany (in Munich) and it will soon be available in other Italian and European cities.
New E-Scudo: a van for true professionals, with the comfort of a car
A modern and evolved vehicle, now based on the Stellantis mid-van platform, the New E-Scudo is available with a 100% electric powertrain. The E-Scudo is part of a wide range of all-electric commercial vehicles that includes E-Ducato and E-Doblò, designed to meet the needs of a varied clientele made up of real professionals, who live their vehicle first and foremost as a work tool and a source of income.
Precisely to meet such needs, Fiat Professional E-Scudo offers best-in-class range of up to 330 km in the WLTP cycle, ideal for those who work in the city and inner suburbs. The zero-emission version also boasts unique flexibility from the perspective of the client’s mission, with two battery sizes – 50 and 75 kWh -, an AC charging capacity of up to 11 kW, and up to 100 kW in DC, to charge the more capacious battery to 80% in just 45 minutes. Read More
Bentley has introduced a new community investment programme as part of the company’s Beyond100 strategy called Advancing Life Chances (ALC). This new strategy, developed in partnership with the Charities Aid Foundation (CAF), allows the company to expand its community investment footprint to a national level. As part of this, Bentley launched the Small Grants Programme in November 2022 and, to date, has donated over 150 small grants nationally and seeks to donate over 250 by the end of the year. In addition, two further new schemes dedicated to Bentley’s home in Crewe have been announced. Read More
Bugatti’s transformative journey into a holistic French luxury brand that encompasses overarching lifestyle spheres is now optimally reflected in the brand-new and state-of-the-art Bugatti website. Featuring an interactive navigational experience, the digital hub stimulates the senses and creates an enduring connection with the brand. This development has resulted in a product portfolio of hyper sports cars like no other: the Chiron1 family features four derivatives, each with its own distinct character, while the Divo2, Centodieci3 and La Voiture Noire4 are a celebration of modern coachbuilding at its very finest. The Bolide5 and the W16 Mistral6 are the latest Bugatti automobiles to be presented, establishing new facets of performance and character for the brand.
Running in parallel to the carefully curated expansion of its line-up of industry-leading automobiles, Bugatti’s presence in the virtual world has also expanded in stature and relevance. The new site features a dynamic and immersive design that is elegantly integrated into award-winning CI/CD. The new visual language goes beyond static images, putting visitors at the center of its virtual environments, inviting them to embark on a three-dimensional exploration of the brand’s unparalleled ethos. The overall mystic look and feel does not only fit to the brand’s corporate colors but also to its metaphysical technological achievements and the many mysterious stories around Bugatti. By harmonizing sight and sound, the new online home of Bugatti has been crafted to generate genuine engagement, transcending conventional digital interactions. Read More
Volkswagen of America Inc. announced the start of production today of the limited 40th Anniversary Edition of the 2024 Jetta GLI, which will be available exclusively in North America. Since the GLI debuted in 1984, dubbed a “GTI with a trunk,” its mission has been simple: to deliver an accessible German performance sedan. To celebrate 40 years of delivering a fun to drive vehicle without sacrificing any of the usability and efficiency that drivers expect from the brand, a limited run of 1,984 units will be produced for the U.S.
The vehicle will be offered in three exterior colors—Pure Gray, Pure White, and Rising Blue—with blackout detailing from front to back contrasting with the GLI’s trademark red trim. Sleek 18-inch wheels in a black, ten-spoke design are met with a black grille, mirror caps, door handles, and spoiler for a razor-sharp design.
Inside, 40th anniversary details abound. Embossed molecular cloth seats, uniquely fabricated for this limited-edition trim, will vary in each of the 1,984 vehicles produced, like a one-of-a-kind fingerprint. Engraved cupholders feature the GLI logo in one and 1984 in the other, while seat tags and front door sills read “GLI 40” and the steering wheel bears a “40” clip at the six o’clock position.
Like the current GLI Autobahn, the 40th Anniversary Edition is powered by a turbocharged EA888 2.0-liter engine delivering 228 horsepower and 258 lb-ft of torque, and available in both six-speed manual and seven-speed DSG® dual-clutch automatic transmissions. It also features key performance content enthusiasts have come to love on the sporty Jetta: larger brakes, a Sport HMI performance monitor, VAQ electronically-controlled torque-sensing limited-slip differential and XDS® electronic differential lock, the DCC® adaptive damping system, and a sport exhaust.
The 2024 Volkswagen Jetta GLI 40th Anniversary Edition starts at a MSRP of $ $28,085 for the manual transmission model and $28,885 for the DSG transmission model. Destination is an additional $1,150. Jetta GLI models will begin arriving in dealerships later this summer. Read More
Toyota USA Foundation announced grants of up to $5.7 million to prepare students in Scott County, Fayette County and Ignite Institute in Northern Kentucky for future science, technology, engineering and math (STEM) careers. Driving Possibilities focuses on PreK-12 education to ensure all students have access to rewarding careers, including opportunities in the auto industry. The long-term initiative’s phased approach, which offers programming in specific schools based on input from district leaders, aims to close educational gaps through innovative, hands-on STEM programming while addressing the essential needs of students and families. Read More
Avaada Group, a vanguard of India’s renewable energy sector, announced a formidable partnership with the Rural Electrification Corporation (REC), concretized through a Memorandum of Understanding (MoU). This agreement ushers in a massive surge of support for Avaada’s diverse energy transition ventures, with the total investment reaching an impressive $2.44 billion (INR 20,000 crores). In the upcoming five years, Avaada is primed to harness this considerable investment to spearhead a plethora of innovative renewable energy projects across India. These pioneering ventures include green hydrogen and its derivatives, solar photovoltaic manufacturing, and an assortment of solar, wind, and hybrid projects. This concerted effort aligns with the Hon’ble Prime Minister of India, Shri Narendra Modi’s vision of ‘Atmanirbhar Bharat’ and the Green Hydrogen Mission, driving India’s energy transition growth. The substantial endorsement from REC underscores Avaada’s unwavering dedication to a greener and more sustainable future for India. For over a decade, REC has extended steadfast support to Avaada, either directly or via the line of credit from KfW and World Bank. Through these strategic alliances, Avaada is poised to transform India’s renewable energy landscape, solidifying its role as a key contributor in the global fight against climate change. Read More
Bloom Energy (NYSE:BE), a fuel cell innovator that has deployed over 1 GW of clean, reliable power, is launching Series 10 — a ground-breaking, 10MW fuel cell offering with a five-year, flat-rate contract shipped in just 50 days, disrupting the traditional electricity-buying model. The Series 10 Bloom Energy Server enables customers to rapidly meet growing power needs and net-zero compliance at competitive costs and without committing to a long-term contract or worrying about cost increases. “Bloom Energy is a proven innovator and market leader in offering distributed power generation that is clean and reliable,” said KR Sridhar, Founder and CEO of Bloom Energy. “We are now disrupting the buying model in the industry with proven technology and a first of its kind offering that will enable business leaders to take control of their power needs and protect their enterprises. We are lowering the barrier to entry with Series 10, which quickly deploys clean power at an affordable flat rate.” The transition to net zero has created challenges across all industries, threatening energy security, availability, and resiliency. Businesses and communities have witnessed steep price increases, lack of power availability, and long-duration power outages. Customers are seeking rapid power capacity increases to grow their businesses with flexible options that will not bind them to long-term contracts.
The 10 MW block design of the Series 10 optimizes cost, deployment speed, and operations by building on Bloom Energy’s proven modular Energy Server technology. Starting from $0.099/kWh*, the Energy Server can be shipped within 50 days for the shortest contract commitment to date — five years. The offer includes maintenance and 24/7 monitoring. Optional add-ons include microgrid and combined heat and power (CHP) compatibility. Read More
United States – 11.9 million bpd
The United States was the top oil producing country in the world in 2022, with daily production of approximately 11.9 million barrels per day (bpd). The U.S. Energy Information Administration (EIA) estimates that U.S. oil production in 2023 will increase to 12.4 million barrels per day and increase even further in 2024 to 12.8 million b/d.
Russia – 10.75 million bpd
Russia was the second-largest oil producer in the world, with crude oil production of approximately 10.75 million bpd in 2022. The country of Russia has vast oil reserves, and its oil industry plays a crucial role in the country’s economy. Most of Russia’s oil production comes from its western Siberian region.
Saudi Arabia – 10.59 million bpd
Saudi Arabia was the third-largest oil producer in the world, with production of approximately 10.59 million bpd in 2022. The country of Saudi Arabia has the second-largest proven oil reserves in the world and is a founding member of the Organization of the Petroleum Exporting Countries (OPEC), which is a group of countries that work together to influence the global oil market.
The oil industry in Saudi Arabia is dominated by the now public company Saudi Aramco
Iraq – 4.48 million bpd
Iraq was the fourth-largest oil producer in the world, with production of approximately 4.48 million bpd in 2022. The small country of Iraq has the fifth-largest proven oil reserves in the world at approximately 145 billion barrels. Interestingly, the majority of Iraq’s known oil fields are undeveloped.
China – 4.1 million bpd
The country of China was the fifth-largest oil producer in the world, with production of approximately 4.1 million bpd in 2022. China has been increasing its oil production in recent years, primarily to reduce its dependence on oil imports. China’s oil production comes from its oil fields in the northeast region of the country and in the South China Sea.
Canada – 4.076 million bpd
Canada was the sixth-largest oil producer in the world, with production of approximately 4.076 million bpd in 2022. Canada’s oil production comes primarily from the oil sands in the province of Alberta. Canada exports a significant portion of its oil to the United States, with the US importing approximately 3.8 million barrels per day of crude oil from its neighbor to the north in 2021.
United Arab Emirates – 3.064 million bpd
The United Arab Emirates (UAE) was the seventh-largest oil producer in the world, with production of approximately 3.064 million bpd in 2022. The UAE has significant oil reserves, and its oil industry is a crucial source of revenue for the government. Most of the oil production in the UAE comes from the Abu Dhabi Emirate.
Brazil – 3.0217 million bpd
Brazil was the eighth-largest oil producer in the world, with production of approximately 3.0217 million bpd in 2022. The country of Brazil has significant offshore oil reserves, with most of its crude production coming from the pre-salt fields located in the Santos Basin of the South Atlantic Ocean. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $79.45 | Up |
| Crude Oil (Brent) | USD/bbl | $83.50 | Up |
| Bonny Light | USD/bbl | $84.19 | Up |
| Saharan Blend | USD/bbl | $83.02 | Up |
| Natural Gas | USD/MMBtu | $2.73 | Up |
| OPEC basket 25/07/23 | USD/bbl | $84.64 | Up |
Saab has received an order from Poland’s Ministry of National Defence for two Saab 340 Airborne Early Warning (AEW) aircraft. The order value is approximately SEK 600 million and the contract period is 2023-2025. These early warning systems comprise the Saab 340 aircraft equipped with Saab’s advanced Erieye radar. The contract also includes ground equipment as well as in-country logistics and support services.
“Saab has had a strong relationship with the Polish Ministry of National Defence for many years. We are proud to further strengthen Poland’s Armed Forces with our airborne early warning and network-based solutions,” says Carl-Johan Bergholm, head of Saab’s business area Surveillance.
Saab 340 AEW, together with associated ground equipment, provides a detailed situational picture that can be used for military and civilian tasks including air surveillance and rescue operations. Different configurations of Saab’s Erieye AEW/AEW&C system have been sold to nine countries, making it one of the most widely used airborne surveillance systems in the world. Read More
U.S. Environmental Protection Agency (EPA), U.S. Department of Energy (DOE), and DOE’s National Energy Technology Laboratory (NETL) released a notice of intent announcing the first in a series of funding opportunities to monitor and reduce methane emissions, one of the biggest drivers of the climate crisis, from the oil and gas sector and for environmental restoration of well sites. Through a newly initiated Interagency Agreement, EPA and DOE will also partner to offer technical assistance to help companies monitor and reduce methane emissions from leaks and daily operations. Through this combination of technical and financial assistance, EPA and DOE will help reduce inefficiencies of U.S. oil and gas operations, create new jobs in energy communities, and realize near-term emission reductions. These funding opportunities are made possible by President Biden’s Inflation Reduction Act. “The amount of methane emitted from oil and gas operations is enough to fuel millions of homes a year and is a major driver of the climate crisis,” said Joe Goffman, Principal Deputy Assistant Administrator for EPA’s Office of Air and Radiation. “These programs will help minimize that waste, a benefit for nearby communities and businesses alike.”
“Methane’s potency as a greenhouse gas makes targeted emissions reduction efforts essential to slow the rapid rate of climate change,” said Brad Crabtree, Assistant Secretary of Fossil Energy and Carbon Management. “These programs will help states and industry to accelerate methane monitoring and mitigation efforts, which will increase efficiency and reduce costs for oil and gas producers, while providing long lasting climate and health benefits to communities across the nation.” Read More
Porsche fights for the world championship title at the Formula E season finale in London
The season wraps up with a real cliffhanger: The title fights for the ABB FIA Formula E World Championship go down to the wire at the season finale in London. The TAG Heuer Porsche Formula E Team travels to the British Isles ranking second in the teams’ standings and is determined to crown its most successful season to date in the innovative electric racing series with a championship title. After a strong season with fiercely-contested races in fascinating cities, the TAG Heuer Porsche Formula E team heads to the London E-Prix ranking second in the teams’ standings with 239 points behind leader Envision Racing (253). From this position, the squad has good prospects of taking home the team title – as does Jaguar (228) in third place. In fourth place, the Porsche customer team Avalanche Andretti (218) also has an outside chance of claiming the title. In its first season with the Porsche 99X Electric, the racing outfit owned by the American motorsport icon Michael Andretti notched up its second win of the season in Rome after Mexico City thanks to Jake Dennis. Read More
| Region | Period | Rig Count | Change |
| U.S.A | 21 July 2023 | 669 | -6 |
| Canada | 21 July 2023 | 187 | — |
| International | June 2023 | 967 | +2 |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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