Daily Energy/Automotive News; COP28 looks set to end in disappointment
London, 12 December, 2023, (Oilandgaspress): – COP28 pledge by energy majors to reduce their emissions is not enough to convince many sustainable fund managers to include the companies in their portfolios because it omits pollution from the use of oil and gas, six interviews with Reuters show
Baker Hughes (NASDAQ: BKR) will announce the results of the fourth quarter and full year ending Dec. 31, 2023, via press release at 5 p.m. Eastern Time (4 p.m. Central Time) on Tuesday, Jan. 23, 2024. A webcast to discuss the results will be held Wednesday, Jan. 24, 2024, at 9:30 a.m. Eastern Time (8:30 a.m. Central Time). Read full article
Renault Group is radically revamping its vehicles’ design – starting at the drawing board. In an exclusive series of Design Talks, Gilles Vidal, the VP Design, Renault Brand and Ampere, talks to guests about inspiration, emotion, design today and how all that is shaping Renault vehicles. Our designer’s first guest is Cléa Martinet, Renault Group’s VP Sustainable Development. They spoke about design as a catalyst for sustainability and about that point where electric vehicle desirability and the future of mobility converge. Read on for more about this exciting conversation about eco-design, featuring Renault’s All-new Scenic E-Tech electric. At a time when sustainability is becoming one of the bedrocks to build a next-gen automotive company that is fully aware of the societal and environmental challenges it has to tackle, automobile design is emerging as one of the essential levers for impact. Because the first step to create a more sustainable car is the drawing board. Renault’s goal on this quest, with its new design language developed under Gilles Vidal’s leadership, is to forge a new user experience. This new paradigm revolves around preserving resources and reducing a vehicle’s environmental impact throughout its life cycle. While using this new creative angle to leverage engagement. Read full article
Mercedes-AMG crowns the SL series with the new SL 63 S E PERFORMANCE (weighted fuel consumption, combined 7.7 l/100 km; weighted power consumption, combined 11.5 kWh/100 km; weighted CO₂ emissions, combined 175 g/km)[1]. The 4.0-litre V8 biturbo engine and the AMG Electric Drive Unit together generate a system output of 600 kW (816 hp) and a maximum system torque of up to 1,420 Nm. This makes the new model the most powerful SL of all time. And it is already the fifth series with the AMG-specific E PERFORMANCE hybrid technology. The immediate response of the electric drive, the rapid build-up of torque and the linear power delivery enable an impressive driving experience. The acceleration to 100 km/h in 2.9 seconds and the top speed of 317 km/h underline the confident appearance. Systems such as the AMG ACTIVE RIDE CONTROL suspension with active roll stabilisation and active rear-axle steering ensure a widespread between comfort and driving dynamics. Read full article
Sweet-toothed aficionado, Winnie the Pooh, once remarked: ‘the only thing better than honey is more honey’. A.A. Milne’s fictional bear would surely have welcomed today’s announcement of a special Black Edition Label honey, marking the fifth honey harvest of the extraordinary ‘Bentley Bees’.
The Excellence Centre for Honey Production is based at Bentley headquarters in Crewe and expanded earlier this year to 17 hives, housing more than one million bees. This summer, just over 500 jars of delicious Black Edition Label honey were collected from the two oldest hives, first installed at the Pyms Lane facility in 2019.
As well as the mouth-watering Black Edition Label, 1,000 jars of tasty ‘regular’ honey were collected from the remaining 15 hives. Bentley’s in-house design team has helped celebrate the occasion by rebranding both jars with unique labelling. Read full article
Baker Hughes announced Georgia Magno as chief legal officer (CLO) effective Jan. 1, 2024. She will be responsible for the Company’s legal and regulatory affairs, corporate governance, and compliance functions. Magno brings 20 years of management and legal experience to the role, previously serving as vice president and general counsel for Baker Hughes’ Industrial & Energy Technology (IET) business segment.
“Georgia is a proven leader with significant experience managing international and complex affairs. Her appointment is an important step in our continued strategy to strengthen Baker Hughes for growth within energy and industrial markets,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “With more than a decade of leadership within the Company, Georgia will play a pivotal role in delivering Baker Hughes’ purpose to take energy forward and collaborating to solve for the energy trilemma of security, sustainability and affordability.” In her previous role, Magno focused on enabling the growth of Baker Hughes while working to ensure compliance, legal and reputational excellence. Magno joined the Company in 2010, first as general counsel for the global supply chain and holding subsequent legal roles across commercial, operational and product line organizations in multiple countries including Italy and the U.S. Prior to Baker Hughes, she was an international litigator with the law firms of Cleary Gottlieb and Weil, Gotshal & Manges LLP. Magno is a member of the New York Bar and holds a Master of Laws degree from Harvard Law School and a Juris Doctor from the University of Bologna. She has been a visiting researcher at the Wharton School at the University of Pennsylvania. She also holds the role of vice chairwoman of the Nuovo Pignone Holding Board of Directors. Read full article
TOYOTA GAZOO Racing (TGR) has unveiled the new livery for the cars that will compete in the FIA World Rally Championship and FIA World Endurance Championship in the 2024 season. There are two concepts for the all-new matt black livery for the GR YARIS Rally1 HYBRID and the GR010 HYBRID, which compete in the respective FIA World Championships. One of the concepts is “Speed” representing our spirit, “Hate to lose”. The other one is the “Prototype” which represents making ever-better motorsports-bred cars and to keep evolving. The new livery will be used not only in the WRC and the WEC, but also in other competitions in which TOYOTA GAZOO Racing participates. Read full article
FIAT is electrifying North America with its sustainable mobility mission. The brand debuted the 2024 Fiat (500e)RED as the first Fiat 500e product drop for North America virtually with a video reveal featuring Olivier Francois, CEO of FIAT and Global Chief Marketing Officer of Stellantis, and Bono, lead singer of U2 and Co-founder of ONE and (RED), to commemorate World AIDS Day which took place Friday, December 1. “FIAT is taking on BEVs in a way only the Italian brand can; combining ‘La Dolce Vita’ spirit of an icon with a mission of sustainability and zero emissions,” said Olivier Francois, FIAT CEO and Global CMO Stellantis. “The 2024 500e is a modern, tech-forward take on a beloved classic, delivering a host of new safety features, while remaining fun to drive and true to its roots. Try not to smile when you drive this car.” The 500e will be available in Stellantis North America showrooms starting in the first quarter of 2024. For more details visit the USA FIAT media website. Read More
Citroën is renewing its iconic Berlingo model and taking it to a whole new level. With its modern, expressive styling coming from its new front end, Berlingo offers an on-board experience worthy of a saloon in terms of driving pleasure, comfort and technology. More than ever, it meets the expectations of all customers with active lifestyles, with further optimised comfort thanks to Citroën Advanced Comfort ® seats, along with latest-generation infotainment system and connectivity. New Berlingo retains its practicality and modularity, as well as its ability to carry up to 7 people.
As the inventor of the leisure van, Citroën has always offered its customers a robust model that suits them and adapts to their every need. Berlingo is a popular model that has built its success on its versatility and an expression of user-friendliness. Over time, Berlingo has progressed in comfort and style, while confirming its status as a benchmark in the market, offering genuine expertise in terms of architecture and on-board space, ingenuity and practicality. With Berlingo, Citroën offers a solution that guarantees a great deal of freedom and peace of mind to accompany families, senior citizens and working people of all kinds in a fulfilling, multifaceted active life. Read More
Hyundai Motor Company has signed a memorandum of understanding (MOU) to promote the development of the global hydrogen ecosystem. The signing took place with South Korea’s Ministry of Environment, Korea Water Resources Corp., Global Green Growth Institute (GGGI) and SK E&S at the Dubai Expo during the COP28 World Climate Summit[1]. Signing ceremony attendees included Chul Youn Park, Head of Global Hydrogen Business in Hyundai Motor Company; Minister Wha-jin Han of the Ministry of Environment; and other participants from the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), Korea Water Resources Corporation, Global Green Growth Institute (GGGI), and SK E&S. The agreement aims to rapidly grow the global hydrogen ecosystem and respond more actively to climate change by sharing leading examples of hydrogen ecosystem development currently underway in Korea with the international community. To this end, Hyundai Motor and its Korean partners will provide case studies and consultation on hydrogen projects and GGGI will publish an evaluation report based on the case studies for international sharing. Read More
Hyundai Motor America today announced a partnership with Healthy Seas and Ghost Diving USA, two nonprofit organizations dedicated to ocean conservation efforts. Hyundai’s support will further Healthy Seas’ and Ghost Diving USA’s diving projects in southern California to clean the oceans and retrieve fishing nets contributing to marine pollution. Reclaimed fishing nets and other nylon waste collected become ECONYL®, a regenerated nylon yarn that is used to make new textile products. The partnership will also enable the organizations to host beach cleanup events across California throughout 2024, with the partnership kicking off on December 9 with a cleanup event at Huntington Beach State Park. The partnership with Healthy Seas and Ghost Diving USA supports Hyundai Motor Company’s commitment to sustainability and global vision of progress for humanity. This focus on the ocean emphasizes the company’s efforts to help create more sustainable marine ecosystems and contribute to a circular economy. Read More
Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery-swapping ecosystems that enable sustainable mobility solutions for cities, today announced the commercial launch and availability of its Smartscooters and battery swapping ecosystem in Manila, the Capital of the Philippines.
“Today is an important milestone in the transformation of urban mobility in the Philippines. Gogoro’s battery swapping and Smartscooters provide a positive path for Filipino consumers and businesses to embrace smart and sustainable transportation,” said Horace Luke, founder and CEO of Gogoro. “This is the culmination of like-minded companies coming together to form a groundbreaking partnership to address the sustainability and transportation challenges, like dense traffic, long commutes and mass pollution, that exist in the Philippines. We are honored to be partnering with Ayala, Globe and 917Ventures.”
Gogoro Philippines is a joint venture between Ayala Corporation, Globe’s 917Ventures and Gogoro. The Gogoro launch marks the climate tech debut of the Globe Group as it continues to deliver innovations that address Filipinos’ daily pain points. Together, the companies are introducing a new era in sustainable transportation that brings together smart, convenient and accessible two-wheel electric vehicles to customers. Read More
In China, the EV boom continued into the second half of 2022. This brought the EV market share to 26.7% last year versus 13.9% in 2021.
New-energy vehicles (NEVs) – including BEVs, PHEVs and hydrogen fuel-cell electric vehicles (FCEVs) – were given an official government target share of 20% by 2025, meaning the objective was reached three years early.
By 2030, the stated aim is for the NEV share to reach 40%, then at least 50% by 2035, which is an unlikely scenario for the long-term outlook. For 2023, EV-volumes forecasts a 33.4% EV share, with year-on-year volume growth of 35%, reaching 8.35 million units.
While EV-share expectations have been reduced, the resilience of the wider light-vehicle market means plug-in volume assumptions still exceed previous forecasts. This is despite an underwhelming economic recovery, post-COVID-19 restrictions, and an ailing domestic real-estate sector. However, this may also mean consumers are turning their attention back to vehicle purchases.
Our forecast for China is not restricted by target shares or capacity limitations. EVs are expected to account for 46% of light-vehicle sales in 2025, growing to 68% in 2030, and 83% in 2035. Growth rates suggest even faster electrification of the market, but caution remains due to high regulatory and economic uncertainties. Read More
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $69.14 | Down |
| Crude Oil (Brent) | USD/bbl | $73.78 | Down |
| Bonny Light | USD/bbl | $76.58 | Down |
| Saharan Blend | USD/bbl | $76.07 | Down |
| Natural Gas | USD/MMBtu | $2.39 | Up |
| OPEC basket 11/12/23 | USD/bbl | $77.98 | Up |
North America, including the US and Canada, saw EV sales increase by 48% year on year in 2022, following 100% growth in 2021. The EV share of light-vehicle sales is forecast to reach 19.5% in 2025, increasing to 45% in 2030 and 77% in 2035.
In terms of the BEV-PHEV mix, all-electric models are expected to account for 80.5% this year, rising to 88.1% in 2025, then 95% in 2030, and 98% in 2035.
The Inflation Reduction Act (IRA) supports further EV growth in the US, even if compliance with upcoming battery and material-sourcing requirements remains unclear for many EV entries. The IRA is assumed to stay effective until 2032.
The incentives for producing vehicles and batteries in the region remain strong but also imply handicaps for imported brands and models. However, there is a loophole whereby imported EVs can qualify if they are leased instead of purchased. Read full article
Electric vehicle sales are expected to hit a record 9% of all passenger vehicles in the U.S. this year, according to Atlas Public Policy. That will be up from 7.3% of new car sales in 2022. It will be the first time more than 1 million EVs are sold in the U.S. in one calendar year, probably reaching between 1.3 million and 1.4 million cars, the research firm predicts. Read full article
U.S. EV market share in Q3 reaches 10.4 percent, up 43 percent from last year. To put that into perspective, that means that for every ten light-duty vehicles sold in the U.S., one was an EV. During Q3, nearly 385,000 light-duty EVs were sold, up 65 percent from Q3 2022 which accumulated nearly 234,000 EV sales. Even more notable, over a million EVs were sold through the end of Q3 this year, an unprecedented record.
Tesla wrapped up Q3 with nearly 163,000 sales, an eight percent decrease from Q2 which saw nearly 176,000 sales. Tesla encountered two consecutive months of declining EV sales in July and August, but the automaker finished the quarter strong with its second strongest month in terms of sales in September with nearly 59,000 sales. Furthermore, Hyundai is cementing its position second to Tesla in the EV market with its strongest quarter yet. The automaker ended Q3 with over 40,000 sales, and the popular Ioniq 5 represented a quarter of those sales. Hyundai sales have increased a colossal 150 percent from Q3 2022. Furthermore, 13 states have exceeded a 10 percent EV market share in Q3. California leads all states with 27 percent, followed by Washington state and the District of Columbia at 20 and 19 percent, respectively. Additionally, since Q2, three states’ EV market share surpassed 10 percent, including Hawaii, Connecticut, and Vermont. Read full article
Reference made to the announcement published February 6, 2023, where Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (Nel, OSE:NEL), signed a 40 MW contract with HyCC. The client has postponed its H2eron project to being realised in 2028 at the earliest and has therefore cancelled the purchase order.
The cancellation is in accordance with the initial agreement for this project where production was communicated to start in Q4 2025. Nel has not booked any revenue for the project, and the cancellation will have a negative backlog impact of about EUR 12 million.
HyCC and Nel are planning to continue their partnership and are in talks to use Nel’s alkaline electrolysers in the new setup for the H2eron project, with a capacity of up to 50 MW.
“The regulatory framework is taking more time and current market conditions are not yet at the levels required to execute the project at the desired scale. In the interest of the H2eron project we are unfortunately forced to adjust the setup and schedule accordingly”, says Marcel Galjee, Managing Director of HyCC. Read full article
Baker Hughes Rig Count: U.S. +3 to 625 Canada -5 to 192
U.S. Rig Count is up 1 from last week to 626 with oil rigs down 2 to 503, gas rigs up 3 to 119 and miscellaneous rigs unchanged at 4.
Canada Rig Count is up 2 from last week to 194, with oil rigs down 2 to 120, and gas rigs up 4 to 74.
International Rig Count is up 16 rigs from last month to 978 with land rigs up 15 to 758, offshore rigs up 1 to 220.
| Region | Period | Rig Count | Change |
| U.S.A | 28 November 2023 | 626 | +1 |
| Canada | 28 November 2023 | 194 | +2 |
| International | November 2023 | 978 | +16 |
Oil and Gas News Undiluted !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
Disclaimer: News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Information posted is accurate at the time of posting, but may be superseded by subsequent press releases
Please email us your industry related news for publication info@OilAndGasPress.com
Follow us: @OilAndGasPress on Twitter |
Oil and gas press covers, Energy Monitor, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar, Marine, Aviation, Fuel, Hydrogen, Electric ,EV, Gas,
