Energy News to 05 May 2022. OPEC daily basket price stood at $110.83/bl, 04 May 2022
Diesel prices hit yet another new record on Wednesday at $5.43 per gallon, now some $1.2 more than a gallon of gasoline, according to AAA.
While high prices at that pump for gasoline have somewhat leveled off, diesel continues to steadily rise, causing an increase in prices of consumer goods because it fuels the trucks that transport an estimated 70% of consumer goods freighted in the United States. Read More
Magnis Energy Technologies Ltd announced the latest results for its high quality, high performing green anode materials using no chemical, acid or thermal purification and via mechanical processes only. Recent Results and Performance of Nachu CSPG Anode
The electrochemical battery performance of Nachu CSPG anode has been extensively tested, validated and qualified using commercial graded Lithium-ion battery cells. These full cells have had over 1000 cycles while retaining at least 90% of its initial cell capacity which demonstrated an excellent lifespan of the Nachu CSPG anode material and its readiness for the next step of commercialisation. Proprietary Anode Processing Technology Magnis has demonstrated the production of a commercial graded Lithium-ion battery grade (>99.95%) CSPG anode with the help of its technology partner, Charge CCCV (C4V) LLC. Read More
CME Group Inc. (NASDAQ: CME) today announced the preliminary shareholder voting results from its 2022 annual meeting.
At the meeting, shareholders:
Elected Terrence A. Duffy, Timothy S. Bitsberger, Charles P. Carey, Dennis H. Chookaszian, Bryan T. Durkin, Ana Dutra, Martin J. Gepsman, Larry G. Gerdes, Daniel R. Glickman, Daniel G. Kaye, Phyllis M. Lockett, Deborah J. Lucas, Terry L. Savage, Rahael Seifu, William R. Shepard, Howard J. Siegel and Dennis A. Suskind, each for a one-year term expiring in 2023; and Ratified the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm for 2022; and
Approved the Amended and Restated Omnibus Stock Plan; and Approved the Amended and Restated Director Stock Plan; and Approved the Amended and Restated Employee Stock Purchase Plan. The advisory vote on the compensation of named executive officers was not approved. Read More
Neptune Energy has secured new renewable electricity supplies for its operated assets in Germany, reducing emissions by more than 11,000 tonnes of CO2 per year, a 40% reduction in the company’s scope two emissions in the country.
Reducing emissions in the production of oil and gas is a key part of Neptune’s lower carbon strategy. In addition to using electricity from renewable energy to power its onshore assets in Germany, Neptune uses electricity from shore at its operated Gjøa field in Norway and at its Q13a-A platform in the Netherlands. Using electrical power from shore at these sites led to a reduction of an estimated 226,000 tonnes of CO2 emissions in 2021.
Neptune Energy’s Director of Global Operations & Electrification, Mungo McLeish, said: “Electrification plays a critical role in our decarbonisation strategy. By the end of 2022, more than 35 kboepd of Neptune’s net annual production will be electrified.“With further electrification projects planned in Norway, we aim to have around 50 kboepd electrified by 2027, and will continue to investigate opportunities to electrify assets within our portfolio.” Under the new supply agreement in Germany, a Certificate of Origin has been issued to Neptune, guaranteeing electricity is provided from renewable energy sources. Read More
Lundin Energy AB has resolved to commence the sale of all 1,356,436 treasury shares on Nasdaq Stockholm in accordance with the authorisation from the Annual General Meeting on 31 March 2022 and the Transaction Agreement regarding the combination of the Company’s E&P business with Aker BP ASA.
Sales of treasury shares will take place on Nasdaq Stockholm at a price within the spread between the highest bid price and lowest ask price prevailing and disseminated by Nasdaq Stockholm from time to time during a period commencing on 5 May 2022 and ending on 22 June 2022, at the latest. The Company has engaged Pareto Securities AB to execute the sales of the treasury shares.
Completed sales will be reported to Nasdaq Stockholm within seven trading days from the day of each transaction. Read More
Shell plc first quarter 2022 interim dividend
The Board of Shell plc (“Shell” or the “Company”) today announced an interim dividend in respect of the first quarter of 2022 of US$ 0.25 per ordinary share.Shareholders will be able to elect to receive their dividends in US dollars, euros or pounds sterling.
Absent any valid election to the contrary, persons holding their ordinary shares through Euroclear Nederland will receive their dividends in euros.
Absent any valid election to the contrary, shareholders (both holding in certificated and uncertificated form (CREST members)) and persons holding their shares through the Shell Corporate Nominee will receive their dividends in pounds sterling.
The pound sterling and euro equivalent dividend payments will be announced on June 13, 2022. Read More
Shell plc released its first quarter 2022 results
Strong Q1 2022 Adjusted Earnings of $9.1 billion in a volatile geopolitical and macroeconomic environment. Adjusted EBITDA of $19.0 billion in Q1 2022 versus $16.3 billion in Q4 2021.
▪ Dividend increased by ~4% to $0.25 per share for Q1 2022. Of the $8.5 billion share buyback programme announced for the first half of 2022, $4 billion has been completed to date. The remaining $4.5 billion share buybacks are expected to be completed before the Q2 2022 results announcement. With the current macro outlook and subject to Board approval, shareholder distributions for the second half of 2022 are expected to be in excess of 30% of CFFO.
▪ Following decisive action on Russia, taken $3.9 billion of post-tax charges in Q1 2022 as part of Identified items.
▪ Share simplification completed and new reporting segments launched – additional Renewables & Energy Solutions and Marketing disclosures. More
Eco Wave Power Global AB, a leader in the production of clean electricity from ocean waves, submitted its Form 20-F financial report for the fiscal year ended December 31, 2021 to the US Securities and Exchange Commission (“SEC”).
The financial report, which contains Eco Wave Power’s audited consolidated financial statements. The Company will, free of charge, deliver a paper copy of its financial report, including its complete audited consolidated financial statements, to its shareholders upon request to the Company’s IR contact, FNK IR More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $107.50 | Up |
| Crude Oil (Brent) | USD/bbl | $110.13 | Up |
| Bonny Light | USD/bbl | $109.81 | Up |
| Saharan Blend | USD/bbl | $111.15 | Up |
| Natural Gas | USD/MMBtu | $8.49 | Up |
| OPEC basket 04/05/22 | USD/bbl | $110.83 | Up |
U.S. Rig Count is up 3 from last week to 698 with oil rigs up 3 to 552, gas rigs unchanged at 144 and miscellaneous rigs unchanged at 2.
Canada Rig Count is down 6 from last week to 95, with oil rigs down 3 to 45, gas rigs down 3 to 50.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 29 April 2022 | 698 | +3 |
| Canada | 29 April 2022 | 95 | -6 |
| International | March 2022 | 815 | — |
Coldplay is partnering up with Neste to take steps towards the band’s target of reducing CO2 emissions from the Music Of The Spheres World Tour by 50% compared to the band’s previous world tour. Neste will provide Coldplay with sustainable aviation fuel (SAF) to help reduce emissions from air travels, while the company’s renewable diesel will help cut emissions from the band’s tour transports and stage power generation.
In 2019, Coldplay pressed pause on their touring until it could be done in a more sustainable way. To achieve its ambition for more sustainable touring, Coldplay has explored e.g. lower-emission alternatives to power aircraft, power generators and road vehicles necessary for a successful world tour. Sustainable aviation fuel and renewable diesel proved the best option for these. Read More
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.
