September 19, 2024 Latest Energy Related News
London, (Oilandgaspress) –– Saudi Arabia exported 5.74 million barrels per day (bpd) of crude oil in July, down by 306,000 bpd from June, and the lowest export level since August 2023, according to the latest data from the Joint Organizations Data Initiative (JODI)
Stellantis manufacturing leaders embrace the challenge to discover and implement production processes that leverage workers’ talents, ensure product quality, improve efficiencies and produce vehicles and components efficiently with minimal environmental impact.
Now in its ninth year, Stellantis’ annual Factory Booster Day is a key part of driving manufacturing improvements to meet the demands of today’s industry and leverage new technologies for the shop floor. Employing the Open Challenge process where plant leaders solicit suppliers and startup companies for ideas, Factory Booster Day is a global showcase of solutions for the factory floor, pitched by suppliers and startups via physical and virtual demonstrations.
The 2024 Factory Booster Day held September 18 at the Stellantis Mirafiori Complex in Turin, Italy, includes 93 innovations on display. Over the past three years, more than 300 proposals have been considered by the Stellantis manufacturing team.
“We have proof that collaboration with our manufacturing partners works. Implementing innovations and continuous improvement have reduced our transformation costs 11%, energy consumption 23% and quality issues 40% since 2021,” said Arnaud Deboeuf, Stellantis Chief Manufacturing Officer. “Stellantis workers are proud to build vehicles that deliver the emotional and world-class qualities of our iconic brands. Leveraging the latest technologies, especially AI, is a significant lever to achieve the level of excellence we are aiming for.”
Innovations from prior Factory Booster Day events are bringing speed and error-proofing advancements in cloud-based digital twins, artificial intelligence (AI) and 3D vision-enabled solutions to Stellantis manufacturing environments. Some of these innovations include: Read More
Stellantis signed a new European Works Council (EWC) agreement yesterday, the direct result of a collaborative and co-constructive approach with members of the Special Negotiating Body (SNB). “We are confident that this agreement lays the foundation for Stellantis’ European social structure, setting the stage for our shared future,” said Stellantis Chief Human Resources & Transformation Officer Xavier Chéreau. “Our unified European Works Council will play a pivotal role in managing the strategic transformation that the automotive industry will undergo in the coming years.”
Following the agreement, 37 new European Works Council members will be designated in the coming weeks to build the next EWC, advocating for more than 100,000 employees representing 13 countries, including Austria, Belgium, France, Germany, Hungary, Italy, Netherlands, Poland, Portugal, Romania, Slovakia, Spain and the UK as consultative member. The EWC’s primary goal is to enhance social dialogue, addressing social, economic and environmental challenges collectively. The new EWC will play a key role in informing and consulting employees on a transnational level, ensuring their voices are heard. Additionally, it will be essential in supporting Stellantis’ strategy of sustainable performance and transformation, always prioritizing the best interests of employees. Read More
Ford, BMW and Honda agreed to create Chargescape, a new company focused on optimizing electric vehicle grid services. Today, the companies announced that ChargeScape is officially operational, along with the appointment of the company’s first Chief Executive Officer and first Chief Technology Officer.
ChargeScape is a software platform that integrates electric vehicles into the power grid, shoring up grid stability while saving drivers money on their charging. ChargeScape’s technology wirelessly connects to electric vehicles and, working with participating utilities, manages home charging efforts when the grid is constrained and even can send energy back into the power grid when needed. Read full article
BMW, Ford and Honda have begun operations of the new joint venture that they announced last year and have appointed the first CEO and CTO. ChargeScape is a software platform that integrates electric vehicles (EVs) into the power grid, shoring up grid stability while saving drivers money on their charging.
The announcement underscores that automakers remain committed to EVs – including plug-in hybrids – and are focused on reducing the total cost of ownership for their customers. ChargeScape’s technology wirelessly connects to electric vehicles and, working with participating utilities, manages the flow of electrons in line with real-time grid conditions, temporarily reducing demand when the grid is constrained through smart charging (V1G) and even sending energy back into the power grid when needed (V2G). EV drivers have the potential to be rewarded financially for their flexibility and always have their vehicle charged by the time they specify.
ChargeScape builds off of the early success of these automakers’ work on smart charging through the Open Vehicle-Grid Integration Platform (OVGIP), which counts multi-state utilities such as Duke Energy, Xcel Energy and Eversource Energy as clients.
Board Names Two Key Leadership Appointments
Following the official launch of the joint venture, BMW, Ford and Honda announced the appointment of ChargeScape’s first CEO, Joseph Vellone.
Bringing 15 years of experience in the energy and climate sectors, Vellone was most recently part of the founding team at software start-up ev.energy, where he launched and grew the company’s North America business to include over a dozen utilities and 150,000 EVs. Read Press Release
Ford has made it a priority to invest in renewable energy sources like geothermal, solar and wind, and, through this strategy, we’re making notable progress toward our objectives. Through our 2022 agreement with DTE Energy in Michigan, for example, we made the largest renewable energy purchase by a corporation from a utility in U.S. history. In 2023, our global manufacturing operations used more than 70% carbon-free electricity — more than half was renewable electricity. And by 2026, every Ford vehicle manufactured in Michigan will be assembled with the equivalent of 100% carbon-free electricity — nine years earlier than our global goal of 100% carbon-free electricity by 2035. We’re also looking to our supply chain to make further emissions reductions, working closely with our suppliers and partners around the globe to bring them along on our Road to Better journey. Ford is creating high standards for our suppliers and leading transformation in the automotive sector through several renewable energy initiatives. These include our strategic partnership with Manufacture 2030, which is designed to help suppliers measure, manage and reduce carbon emissions, as well as our role as a founding member of the First Movers Coalition, through which we’re committing to near-zero carbon emissions for at least 10% of our primary aluminum and steel purchases by 2030.
Ford’s most recent supplier-focused initiative is our founding sponsorship of the Transform: Auto program, which was announced today. This innovative industry collaboration aims to drive the adoption of renewable energy across the automotive supply chain — providing suppliers with tailored guidance and expert support to help them reach carbon-neutral targets. It’s a testament to Ford’s belief in the power of collaboration to move the automotive industry — OEMs and suppliers alike — toward a more sustainable future. Read Press Release
McDermott and BW Offshore have entered into a collaboration to advance the technical and commercial viability of offshore blue ammonia production. This strategic partnership aims to enable a viable pathway for offshore blue ammonia production, contributing to the global transition to low-carbon energy sources, and reinforcing both companies’ commitment to sustainable energy practices.
The collaboration will leverage the combined expertise of McDermott and BW Offshore to advance the development of low carbon ammonia production aboard a floating production storage and offloading (FPSO) facility. FPSOs have the potential to unlock multiple benefits for ammonia production, including advantages in environmental, health and safety, schedule certainty, and competitive levelized costs of ammonia.
BW Offshore will contribute its leading expertise in FPSO solutions and apply an innovative approach to offshore production facilities. Its commitment to advancing the energy transition through sustainable technologies makes it an ideal partner for this project.
McDermott brings extensive experience in engineering, procurement, construction and installation (EPCI) across the energy sector and will contribute its deep technical knowledge and project execution capabilities and leverage its global fabrication assets and modularized solutions. Read Press Release
A research group at Chalmers University of Technology in Sweden says they have made the world’s strongest battery that could form the structure of vehicles.
A new study details the world-leading advance in so-called massless energy storage – a structural battery that could halve the weight of a laptop, make mobile phones as thin as a credit card or increase the driving range of an electric car by up to 70 percent on a single charge.
Structural batteries are materials that, in addition to storing energy, can carry loads. Stiff, strong carbon fibers could store electrical energy chemically and, in this way, the battery material can become part of the actual construction material of a product. The team says that when cars, planes, ships or computers are built from a material that functions as both a battery and a load-bearing structure, the weight and energy consumption are radically reduced. Read Press Release
This strong, lightweight battery tech made from carbon fibre could be the answer to electrifying air travel.
Researchers from Chalmers University of Technology in Sweden say the material it is made from is sturdy enough to serve as a load-bearing structure. It is being billed as the “world’s strongest battery” and they claim it could be integrated into the design of a vehicle to reduce weight and increase range.
“We have succeeded in creating a battery made of carbon fibre composite that is as stiff as aluminium and energy-dense enough to be used commercially,” says Chalmers scientist Richa Chaudhary, one of the authors of the paper recently published in the journal Advanced Materials. Read Press Release
Bentley has released new luggage, complementing the wider collection, to celebrate the launch of the new Continental GT and GTC. This exclusive offering takes inspiration from the powerful grand tourer’s new design DNA and showcases Bentley’s dedication to superior craftsmanship and handcrafted luxury.
Presented as a set featuring three essential pieces: a Weekender Bag, a Backpack and a Wash Bag, the collection is in Gravity Grey in a nod to the new contemporary hide colour introduced with the fourth generation Continental GT and GTC.
Distinguishing this luggage collection are accent stripes in three distinctive hues: Mandarin, Kingfisher, and Hotspur. These colours are thoughtfully inspired by the sophisticated interiors of Bentley cars, offering a subtle yet impactful expression of luxury.
Each piece is hand-made in Italy using the finest materials and precision crafted details, including hand-stitching and edging in contrast colours, front buckled pockets, debossed luggage tags with subtle emblems and internal leather-trimmed compartments – all showcasing Bentley’s refinement, quality and never-ending luxury.
The special collection is priced at £2,500 inc VAT per set and can be purchased at shop.bentleymotors.com. Read More
During the period from 9 to 13 September 2024, Eni acquired on the Euronext Milan no. 2,728,500 shares (equal to 0.08% of the share capital), at a weighted average price per share equal to 13.9274 euro, for a total consideration of 38,000,973.16 euro within the second tranche of the treasury shares program approved by the Shareholders’ Meeting on 15 May 2024, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999, for the purpose of paying to the Shareholders an additional remuneration compared to the distribution of dividends. Read More
BoE holds rates but signals cautious approach to inflation
The Bank of England’s Monetary Policy Committee voted 8-1 to maintain the Bank Rate at 5%, signaling a cautious approach to inflation despite signs of easing pressures.
The Bank remains concerned about persistent inflationary pressures, particularly in the services sector, and expects CPI inflation to increase to around 2.5% towards the end of the year. While the labour market shows signs of gradual easing, wage growth remains a concern.
This decision follows a report showing UK inflation, which tracks the rise in consumer prices, remained at 2.2% last month, slightly above the BoE’s 2% target. Source,
Mitsubishi Heavy Industries, Ltd. (MHI) has renewed CO2MPACT™ series, which has been commercialized for decarbonization of a wide range of industries. The new model adopts a mass-produced full-module concept based on standard design as a middle size of CO2MPACT™. By maximizing the module ratio, it is possible to improve the efficiency of on-site fieldwork and shorten the construction period, which occupies a large volume of conventional plants delivery time. The new model, “CO2MPACT™ Full-Module,” will be able to propose the optimum capacity of captured CO2 according to the flue gas from customer’s facility in the range of 1 to 200 tons/day. In addition, more than 90% of the equipment is modularized into the container size or prefabricated in a workshop. As a result, the work volume at construction site will be greatly reduced, especially the on-site welding work, by 95%. CO2MPACT™ Full-Module inherits its development concepts such as “easiness,” “lightness,” “moving fast,” and “simple,”. Going forward, MHI Group will further strengthen the customer support package, encompassing everything from initial planning to after-sales servicing, through the lineup with “CO2MPACT™ Mobile,” which has already been delivered for demonstration tests in various industrial fields. Read More
Hyundai Hope On Wheels, a 501(c)(3) nonprofit organization supported by Hyundai Motor America and its more than 835 U.S. dealers, celebrated its $26 million commitment for its 26th anniversary and lifetime giving milestone of a quarter billion dollars ($250 million) at its annual gala in Washington D.C. with Hyundai global leaders, members of congress, doctors, and researchers as part of Childhood Cancer Awareness Month. With the theme ‘Hope Lights the Way,’ this year’s gala event focused on the future, and the impact that research funded by Hyundai Hope On Wheels is having on developing innovative treatments to increase the number of pediatric cancer survivors.
“Since its inception 26 years ago, Hyundai Hope On Wheels has become one of the nation’s largest supporters of pediatric cancer, helping more than 25,000 children fight cancer with more than $250 million in funding,” said José Muñoz, president and global COO, Hyundai Motor Company and president and CEO, Hyundai Motor North America. “Hyundai is passionate about hope, particularly in giving hope to kids fighting cancer. Together with our dealer partners we’re proud to continue to grow Hyundai’s impact and commitment to the fight against pediatric cancer and the survivorship journey. Hyundai is equally proud to expand this important initiative to markets around the world, starting next year.” Read full article
Hyundai’s thrilling, high-performance all-electric IONIQ 5 N SUV swept three highly competitive categories of the 2024 Drive Revolution competition. This event, staged by the Northwest Automotive Press Association (NWAPA), includes categories for Best Performance (an overall category that encompasses both electrified and non-electrified models), Best Electrified Vehicle (any vehicle with an electric motor), and Best Battery Electric (pure battery-electric vehicles only). This sweeping competition pitted the IONIQ 5 N against many formidable, higher-priced, competitors including six-figure supercars and high-power luxury sedans. The 2024 IONIQ 5 N is Hyundai’s first electrified model to wear an N badge. The vehicle has been received with great acclaim by automotive media and driving enthusiasts since its launch earlier this year, setting a new benchmark for engaging, all-electric high performance. The IONIQ 5 N SUV is offered in a single, fully equipped trim that delivers innovative performance along with unmatched driver engagement and configurability, all paired with a full complement of convenience, driver-assistance, and safety features. Read full article
Neste Corporation has today received a notification under Chapter 9, Section 10 of the Finnish Securities Market Act (FSMA). According to the notification by BlackRock, Inc., the aggregate holdings of the entities referred to therein excluding financial instruments according to SMA 9:6a have on 18 September 2024 decreased to below 5% of the total number of shares and voting rights of Neste Corporation. The aggregate holdings including financial instruments according to SMA 9:6a owned by BlackRock, Inc. and the entities referred to above amounts to 5.31% of the total number of shares of Neste Corporation. The share stock of Neste Corporation consists of 769,211,058 shares, each entitling one vote.
Total positions of entities referred to in the notification: Read full article
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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