Energy/Automotive News; WTI for September delivery settle at $82.82 a barrel in New York.Brent for October settle at $86.24 a barrel.
London, 06 August, 2023, (Oilandgaspress) : A Ukrainian drone attacked and damaged a Russian oil tanker in the Kerch Strait, the Maritime Rescue and Coordination Center (MRCC) of Novorossiysk said on Saturday. The MRCC said that the tanker’s crew was safe, but the attack damaged the engine room. A group of rescuers and two tugboats went to the area to help the tanker. (Xinhua)
Reference is made to the stock exchange release dated August 30, 2022 regarding the agreements to form a subsea joint venture with SLB and Aker Solutions. Closing is subject to regulatory approvals. Following clearance as of today by antitrust authorities in Brazil, all regulatory approvals/clearances required to close the transactions have been obtained, including required clearances in Angola, Mozambique, Australia, Norway, the United Kingdom and the United States. All approvals/clearances obtained are unconditional. The parties will continue to work to satisfy the remaining conditions for closing, and aim to close as early as practicably possible in the fourth quarter of 2023. The joint venture is planned as a milestone in subsea production economics, helping customers unlock reserves, reduce time to first oil, lower development costs, and achieve decarbonization goals. The three companies will bring together deep reservoir domain and engineering design expertise, extensive field-proven subsea production and processing technology portfolios, world-class manufacturing scale and capabilities, and a comprehensive suite of life-of-field solutions to customers around the world. Read More
The Porsche Penske Motorsport works team’s two Porsche 963s will start the eighth race of the IMSA WeatherTech SportsCar Championship season from positions two and seven. In qualifying at Road America in the state of Wisconsin, Matt Campbell drove a sensational lap in the No. 7 hybrid prototype: The Australian lapped the 6.515-kilometre circuit in 1:47.798 minutes and missed pole position by just 0.068 seconds. Briton Nick Tandy qualified seventh in the sister car. The Porsche 963 cars of the customer teams JDC-Miller MotorSports and Proton Competition will start the race from positions nine and ten. Read More
Military personnel have destroyed 36 illegal refining sites and arrested 22 suspected oil thieves in the Niger Delta.
The Defence Headquarters spokesperson, Maj. Gen. Edward Buba, confirmed this on Thursday in Abuja while issuing an update on the operations of the armed forces at a bi-weekly news briefing. He stated that the troops also destroyed 61 dugout pits, 32 wooden boats, 87 storage tanks, three vehicles, 126 cooking ovens, three outboard engines, one speedboat, two motorcycles, one generator, and two pumping machines. According to him, they also recovered 310,700 litres of crude oil, 14,675 litres of Automotive Gas Oil, 49,000 litres of Dual Purpose kerosene, one weapon, and three ammunition. Read More
Tesla has officially taken over Wiferion, a German company that specializes in wireless charging technology. Wiferon has experience in developing and manufacturing inductive charging systems and has primarily provided its solutions to transport systems, forklifts, and robots, Drive Tesla Canada reports. Read More
U.S. Rig Count is down 5 from last week to 659 with oil rigs down 4 to 525, gas rigs unchanged at 128 and miscellaneous rigs down 1 to 6.
Canada Rig Count is down 5 from last week at 188, with oil rigs down 3 to 118, gas rigs down 2 to 70.
| Region | Period | Rig Count | Change |
| U.S.A | 04 August 2023 | 659 | -5 |
| Canada | 04 August 2023 | 188 | -5 |
| International | July 2023 | 961 | +2 |
XPeng Inc., a leading Chinese smart electric vehicle (“Smart EV”) company, announced that Dr. Xinzhou Wu, Vice President of Autonomous Driving, has tendered his resignation to the Company for personal and family reasons. Dr. Liyun Li, Senior Director of XPENG’s autonomous driving team, will assume Dr. Wu’s responsibility. Dr. Li has been leader of the XNGP project team and prepared for the transition for a long period.
Mr. He Xiaopeng, Chairman and CEO of XPENG, commented, “on behalf of the Company’s management team, we would like to extend our appreciation and gratitude to Dr. Wu for his significant contribution to XPENG’s leading position in autonomous driving technology and wish him all the best in his future personal and career endeavors.” “Looking forward, we will remain fully committed to our clear roadmap for the full-stack in-house developed autonomous driving technology and our strategic partnership with the Volkswagen Group. I will continue to personally lead our autonomous driving team and strengthen our leadership in Smart EV technologies,” Mr. He concluded. Read More
Rolls-Royce Holdings Plc 2023 Half Year Results; Highlights
Significantly improved first half results: higher underlying operating profit of £673m and free cash flow of £356m reflects continued end-market growth and our focus on commercial optimisation and cost efficiencies across the Group
Full year guidance raised: on 26 July we upgraded 2023 guidance for underlying operating profit to £1.2bn-£1.4bn and free cash flow to £0.9bn-£1.0bn; transformation efforts are accelerating our financial delivery
Margin improvement led by Civil and Defence: driven by higher volumes, commercial improvements, and cost efficiencies; Power Systems margins were lower, but are expected to improve in the second half due to our pricing actions
Accelerated financial delivery driven by transformation: our multi-year programme has started well with strong initial results
Delivering in an uncertain environment: an increased focus on costs and productivity has helped to offset the impact of inflation and supply chain pressures Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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