Energy News | WTI Crude at $91.50/bbl, BRENT Crude at $94.37/bbl
London, 20 September, 2023, (Oilandgaspress): – UK Prime Minister is poised to push back a deadline to outlaw fossil fuel vehicle sales from 2030 to 2035 amid economic hardship for families. An aim to phase out the sale of all gas boilers by 2035 will be diluted, with just 80 per cent of them gone. The news on petrol and diesel cars will be welcomed by many drivers, with polling for the Daily Mail revealing that only a quarter of the public agreed with the previous deadline. But today the decision was criticised by businesses who have sunk billions into green technology in the hope of meeting the 2030 cut off, including car manufacturer Ford. Read More
Mr Sunak also said he was scrapping ‘heavy-handed’ measures including an increase in recycling that could see each home have seven bins, and taxes on meat and flying, and new rules on car sharing journeys. – though critics had already questioned whether they would ever be introduced. The PM insisted his delay on net zero policies was not a ‘short-term decision’ aimed at winning the next general election.
China’s fuel oil imports dropped by 8% from July to 1.4 million metric tons in August, per the data from the Chinese General Administration of Customs released on Wednesday and quoted by Reuters
On September 11, 2023, Eni acquired on the Euronext Milan no. 680,917 shares (equal to 0.02% of the share capital), at a weighted average price per share equal to 14.9723 euro, for a total consideration of 10,194,893.60 euro within the second tranche of the treasury shares program approved by the Shareholders’ Meeting on 10 May 2023, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999.
From the start, on 4 September 2023, of the second tranche of the buyback programme (aimed at giving Eni shareholders additional remuneration in relation to the distribution of dividends), Eni acquired no. 4,017,606 shares (equal to 0.12% of the share capital) for a total consideration of 59,273,258 euro. Considering the treasury shares already held and the cancellation of 195,550,084 treasury shares resolved by the Shareholders’ Meeting on 10 May 2023 and the purchases made from the beginning of the treasury shares program on 12 May 2023, Eni holds n. 96,565,356 shares equal to 2.86% of the share capital. The weekly information including the daily details of the 2023 share buyback programme can be found on the Company’s website, in the sections “Governance\Shareholders\Share Buyback programme year 2023\Purchase treasury shares 11 September 2023” and “Investors\Shareholders’ remuneration\2023 Share Buyback Program”. Read More
Scientists in the United States have introduced a novel concept called “Snow-Free Solar.” A team from the University of Toledo developed a strip coating that causes accumulated snow to slide off solar panels without interfering with their efficiency.Their experimentation involved the application of this innovative strip to the lower edge of solar panels and conducting tests with 150 solar plant operators. The outcome revealed that the strip effectively melted snoNew analysis has found that for the first time ever, installed wind capacity has surpassed gas in the UK, reaching 27.9 GW in June, compared to the 27.7 GW installed capacity of gas generation. The study, from Imperial College London for Drax Electric Insights, has found that after more than a century of fossil fuels dominating the UK’s electricity grid, coal and gas power generation has plummeted at the fastest rate outside of the COVID-19 pandemic. The report shows that output from gas-fired power stations fell by 23% in 2Q2023 compared to the same quarter last year. Output from coal, meanwhile, fell by 75% to its lowest levels on record.w, all while allowing for the unimpeded absorption of sunlight. Read More
Vestas has received a firm order from Windpark Engelhartstetten GmbH, a subsidiary of WindLandKraft GmbH, for the Engelhartstetten wind park in Lower Austria. The order consists of 11 V136-4.2 MW wind turbines and includes supply, delivery, and commissioning of the turbines. Upon completion, Vestas will service the turbines under a 25-year Active Output Management 4000 (AOM 4000) service agreement designed to ensure optimised performance of the assets. “Windpark Engelhartstetten is a big project for the Austrian market, and we are thrilled to be a part of it,” says Christoph Manseder, Lead Director Sales for Austria at Vestas. “This is a privately developed wind project within the Austrian Renewable Energy Act and contributes to Austria’s energy transition strategy. Our thanks go to our customer for their trust in our technology”. “We are glad to continue our cooperation with Vestas and are proud to expand our portfolio by a further eleven wind turbines after the successful construction and commissioning phase,” says Clemens Regehr, managing director at WindLandKraft GmbH. Turbine delivery is expected to begin in the third quarter of 2024 with commissioning scheduled for completion in the fourth quarter of 2024. Vestas has received a 126 MW order to repower the Downeast Wind project owned by Apex Clean Energy in Maine, USA. The order consists of 30 V150-4.2 MW wind turbines. The order includes supply, delivery, and commissioning of the turbines, as well as a multi-year Active Output Management 5000 (AOM 5000) service agreement, designed to ensure optimised performance of the asset. “Our strong partnership with Apex Clean Energy continues to bring wind energy to local communities across the US and we look forward to the Downeast Wind project creating clean energy for the State of Maine,” said Laura Beane, President of Vestas North America. “With our industry-leading 4 MW platform, one of the most popular platforms sold globally, we’ll help bring Maine one step closer to achieving its goal of 80 percent of its energy coming from renewable sources by 2030 and 100 percent by 2050”. “Our longstanding partnership with Vestas is pivotal to realising our mission to accelerate the shift to clean energy across the country,” said Ken Young, CEO of Apex Clean Energy. “As our portfolio expands, we remain committed to building renewable energy projects that not only accelerate the transition but also directly benefit the communities we work with”. Turbine delivery begins in the second quarter of 2024 with commissioning scheduled for the fourth quarter of 2024. Read More
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