Energy News Release to 24 Mar. 2022. OPEC daily basket price stood at $116.94/bl, Wed. 23rd Mar. 2022
Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET), a part of the Mitsubishi Heavy Industries (MHI) Group, launched a new MGS-R Series of diesel generator sets. Developed to support the growing needs of the digital economy, primarily targeting data centers across Asian and Middle Eastern markets, the new series also serves as a reliable backup power solution for commercial facilities such as shopping malls and office buildings.
The MGS-R Series is the first upgrade to MHIET’s diesel generator set lineup in over two decades following the MGS-B models introduced in the year 2000. The new series features 21 models that cover all rating categories(2). Some of the models were released in November 2021 and remaining models will be introduced in sequence by the end of 2022. Read More
Mitsubishi Heavy Industries Engineering, Ltd. (MHIENG), a part of Mitsubishi Heavy Industries (MHI) Group, has completed a rehabilitation (renovation) project for the Manila Metro Rail Transit System Line 3 (MRT-3), a metropolitan railway serving the Manila metropolitan area in the Republic of the Philippines. This project, conducted in partnership with Sumitomo Corporation, was ordered by the Philippines Department of Transportation (DOTr) in December 2018.
MRT-3, utilized as a transportation service for Manila residents, was built by MHIENG (at the time MHI) in partnership with Sumitomo Corporation as a complete urban transportation system, including elevated structures, stations, rails, signals, communications, transformer facilities, wiring, railway depots, and vehicles, with a total length of 17 kilometers and comprising a total of 13 stations. From the start of full operations in 2000 through 2012, MHI and TES Philippines Inc. (TESP, an MHI Group company providing transportation system maintenance), in partnership with Sumitomo Corporation, provided maintenance for the system. From 2012, a decline in the operating rate of the railway due to the aging of the system and delays in procuring replacement parts became a social issue in the region. Read More
Nel ASA (Nel, OSE: NEL) is in advanced commercial negotiations with two independent customers about sale contracts, each with approximately value of EUR 3 million. The scope for one of the contracts is an alkaline electrolyser system and the other is hydrogen fueling modules. Both potential contracts are in Europe. Negotiations are ongoing, and there can be no assurance that the respective parties thereto will reach agreements on terms of supply contracts that are mutually acceptable Read More
Koch Industries—the conglomerate is reportedly investing hundreds of millions of dollars in battery companies. The privately held company has its fingers in a range of industries, from oil refining to chemical production, lumber and paper mills, glass, and electronics firm Molex, which created a popular computer interconnection. But according to a Wall Street Journal report, Koch Industries has become one of the largest investors in the battery world outside of automakers and their suppliers. The firm has sunk at least $750 million into battery makers and battery material companies over at least 10 investments, the Journal reports. The sector has experienced rapid growth over the last decade, and battery technology continues to improve at a remarkably steady pace. The extent of Koch Industries’ involvement in batteries may represent yet another turning point in the clean tech world. Read More
The new hybrid Hyundai Sonata has solar cells built into its roof. After baking in the sun all day, the car can add 3-4 miles to its range. That might sound underwhelming, but my EV discharges far more than 3-4 miles per day just sitting parked and doing whatever a Tesla does when it’s not being driven around. I can only assume that, given its power consumption while doing nothing, it is becoming self-aware, developing feelings and writing love haikus to Elon Musk. More
To enhance the business, Paal Eikeseth has been appointed as executive vice president (EVP) of Aker Solutions’ Electrification, Maintenance and Modifications (EMM) business segment. In his new role, Eikeseth will be part of the company’s executive management team, reporting to CEO Kjetel Digre.
“We are enhancing the business and the financial results, and we are in parallel also growing the organization within selected strategic areas. When Paal now joins the executive management team with responsibility for the EMM business segment, he also brings with him extensive change management and industry experience which will be essential for how we will strategically develop our activities,” said Kjetel Digre, chief executive officer of Aker Solutions. Eikeseth is a Norwegian citizen and has for the last years held various senior management positions in Aker Solutions. Read More
Nel ASA calls for its Annual General Meeting to be held as a digital event on 21 April 2022 at 15:00 (CET).
Please find attached the convening notice, the proposal from the nomination committee in Nel ASA for the annual general meeting, and a remuneration report. Relevant documents and link for registration are made available on nelhydrogen.com Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $114.90 | Up |
| Crude Oil (Brent) | USD/bbl | $121.90 | Up |
| Bonny Light | USD/bbl | $121.60 | Up |
| Saharan Blend | USD/bbl | $124.63 | Up |
| Natural Gas | USD/MMBtu | $5.26 | Up |
| OPEC basket 23/03/22 | USD/bbl | $116.94 | Up |
Tullow Oil plc (Tullow) announced the appointment of Jonathan Swinney as Chief Financial Officer (CFO) and as an Executive Director of Tullow. Jonathan is currently CFO of EnQuest PLC and will join Tullow later this year. As previously announced, Richard Miller, currently Group Financial Controller, will act as interim CFO until Jonathan arrives at Tullow.
Jonathan brings extensive oil & gas and capital markets experience to Tullow having served as EnQuest’s founding CFO since 2010. In this period, EnQuest has developed its business in the UK and in Malaysia and undertaken a number of asset acquisitions and major capital markets transactions. Jonathan is a chartered accountant and a qualified solicitor. He joined Petrofac as the head of Mergers and Acquisitions in 2008 before joining EnQuest and previous to that worked in investment banking. Read More
A consortium operating the pipeline that Kazakhstan uses to export the bulk of its oil has said the route may be largely unusable for up to two months because of infrastructure damage caused by a recent storm.
The Caspian Pipeline Consortium, or CPC, said in a March 22 statement that two of three tanker loading facilities at the Russian Black Sea port of Novorossiysk, which allow ships to take on oil at a safe distance from the shore, have been rendered inoperable. CPC chief executive Nikolai Gorban told reporters on March 23 that the loading of oil at the Novorossiysk terminal has stopped completely for the time being. While oil can be fed into the 1,500-kilometer pipeline, which starts at Kazakhstan’s giant Tengiz field on the eastern shores of the Caspian, shipments in March and April will fall fivefold compared with the us Read More
Bloomberg cites MF daily that said the European Union on Wednesday is considering a massive 100 billion euro bond issuance for a new relief program that would provide relief funds to businesses hit hardest by rising gas and electricity prices, as criticism soars about out of control commodity inflation and the bloc’s inability to tame prices. MF didn’t cite sources, though it said the issuance could be approved within the next 15 days. Read More
Hyundai Motor Company and the Los Angeles County Museum of Art (LACMA) today unveiled the latest installment of their ongoing collaboration, a comprehensive survey on the American conceptual artist Barbara Kruger, entitled “Thinking of You. I Mean Me. I Mean You.”
“The Hyundai Project at LACMA, a joint initiative between Hyundai Motor Company and LACMA since 2015, has presented a series of exhibitions and programs with the purpose of sparking dialogue, empathy, and collaboration beyond boundaries,” said Thomas Schemera, Global Chief Marketing Officer and Head of Customer Experience Division of Hyundai Motor Company. “Barbara Kruger’s way of challenging conventional perspectives inspires us in many ways, and we are honored to be part of her urban intervention, especially at a time when social interaction has been limited for too long in public spaces.” Read More
80% of the vehicles sold in India today are two wheelers and despite that only 12% of India owns a two wheeler. These vehicles consume 12,000 cr liters of fuel every year and are responsible for 40% of air pollution. Clearly, this penetration is going to grow exponentially in the coming years and we simply cannot allow that to happen. So moving to EVs is no longer optional, it’s crucial. But a shift like this requires innovation and manufacturing at a global scale and quality. That’s what we have been upto with the Ola Futurefactory – the largest 2W factory in the world – and that’s what we are introducing in the market today. It’s a revolution on two wheels. It’s called the Ola S1 and it is, quite simply, the best scooter ever made. Read More–>
BrokerTec, a leading provider of electronic trading platforms and technology services in fixed income markets, today announced that it has partnered with Broadway Technology to make its Relative Value (RV) Curve spread trading functionality available on Broadway’s Toc platform.
The integration provides mutual clients with access to the full RV Curve product suite to increase execution efficiencies by merging liquidity from BrokerTec’s industry-leading central limit order book with a single-threaded matching engine to eliminate legging risk, provide inside liquidity, and increase matching opportunities when trading benchmark spreads. Read More
Rome Fiumicino Airport is increasing the availability of SAF (Sustainable Aviation Fuel), an aviation biofuel made from renewable raw materials capable of supporting the reduction of CO2 emissions in the aviation sector. The Leonardo da Vinci airport has become the first Italian airport to employ SAF, allowing ITA Airways to use it on the airline’s first 10 flights on 15 October 2021. From tomorrow, it will further increase distribution so that, throughout 2022, ITA Airways will be capable of powering two routes (Rome-Venice and Rome-Barcelona) as part of its decarbonization project. Around 3,000 tonnes of Jet fuel + Eni SAF (fuel blended with renewable raw material components) came from the Eni refinery in Taranto to the port of Civitavecchia, where it was unloaded at the coastal depot of SODECO (part of the Ludoil Group), which directly supplies Rome Fiumicino Airport. This is a further step towards the expansion of Aeroporti di Roma’s commitment to sustainability and decarbonization of the sector, given that Rome Fiumicino was the first airport in Europe to obtain the highest Airport Carbon Accreditation 4+ “Transition” from ACI Europe for CO2 reduction. The group has also confirmed that it will drive its greenhouse emissions down to zero by 2030, well ahead of the original sector targets. Read More
| Region | Period | Rig Count | Change |
| U.S.A | 18th March 2022 | 663 | +0 |
| Canada | 18th March 2022 | 176 | -30 |
| International | February 2022 | 813 | — |
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.
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