Daily Energy/Automotive News Headlines May 16, 2024
London, 16 May 2024, (Oilandgaspress): –Natural gas now accounts for about a quarter of global electricity generation. Production of natural gas1 increased by 5,5% compared to February 2023. Imports (entries)1,2 of natural gas were 9.3% lower on a year-on-year basis, and total OECD exports (exits)2 decreased by 1.7% in the same period. Gross consumption of natural gas decreased by 2.9% in February 2024 on a year-on year basis. The IEA’s Monthly Natural Gas Statistics features natural gas production, consumption, total imports and total exports for all OECD Member countries, and natural gas pipeline and LNG trade by origin and destination for all OECD Regions.
2024 Honda Business Briefing on electrification initiatives and investment strategy summary
Honda has not changed its belief that EVs are the most effective solution in the area of small mobility products such as motorcycles and automobiles, and Honda’s electrification target to make EVs and FCEVs represent 100% of its global vehicle sales by 2040 remains unchanged. Honda must look ahead to the period of EV popularization and build a strong EV brand and a strong EV business foundation from a medium- to long-term perspective.
Structural reform of procurement and production operations:
Through the establishment of a vertically-integrated EV value chain with a central focus on batteries, as of 2030, Honda will reduce the cost of the battery to be procured in North America by more than 20% compared to the cost of current batteries.
Honda will establish a competitive business structure with an aim to reduce overall production cost by approximately 35%. Honda already has a positive outlook to secure enough batteries for the planned production of approximately 2 million EVs per year.
EV lineup strategy:
For the Honda 0 Series, a global EV series which will be the flagship series of Honda EVs, a total of seven models will be launched globally by 2030 including various models ranging from small to large size. As a part of electrification with the use of Honda Mobile Power Pack e: (MPP), Honda will introduce a micro-mobility product which will be equipped with 4 MPPs in Japan before the end of FY2026, enhancing the applications of MPPs.
Financial strategy:
Honda is planning to invest approximately 10 trillion yen in resources over the 10-year period through FY2031, when the period of full-fledged popularization of EVs is expected to start. Honda will pursue both bold investments for future growth and shareholder returns. Read full article
INEOS Inovyn to strengthen Europe’s PVC recycling.
INEOS Inovyn launches two new PVC pilot plants at our Jemeppe-sur-Sambre site in Belgium, to accelerate technologies for recycling PVC which is not mechanically recyclable today.
Forms part of a strategic ‘Project Circle’ initiative, which aims to commission an industrial unit with a 40KT recyclable capacity by 2030.
To strengthen our technical and commercial development, INEOS Inovyn has joined two value chain consortiums supported by the Walloon and Flemish authorities.
Geir Tuft, CEO INEOS Inovyn said, ‘PVC is one of the most recycled polymers in Europe, but reaching full circularity remains a complex challenge for our industry. Project Circle is an ambitious step in developing advanced new solutions and supporting Europe’s green transition.’
Across Europe around 30% of PVC waste is currently mechanically recycled. Project Circle ambitiously targets the remaining waste which cannot be mechanically recycled, by developing new technologies including dissolution, pyrolysis and gasification.
Our goal is to make all PVC waste recyclable and aim to have our first industrial unit ready by 2030. As part of this process we have launched two pilot plants in Jemeppe-sur-Sambre (Belgium), where INEOS Inovyn’s main R&D centre is located.
These units draw on Vinyloop™’s technology experience from 2002 to 2018, and are designed to upgrade PVC dissolution technology which supports the recycling of complex PVC waste, including legacy additives. Read full article
Automobili Lamborghini and Sonus faber will collaborate to offer Sonus faber’s automotive audio system in the Lamborghini Revuelto. Available as an optional specification on the Revuelto[1] from May 2024, the collaboration delivers an in-car system featuring Italian artistry, high-quality craftsmanship and a rich tradition of excellence. The new Revuelto will be the first Lamborghini vehicle available to customize with Sonus faber’s inimitable automotive audio system, which was born out of the joint efforts of Sonus faber’s R&D and Design department and Lamborghini Centro Stile.“The Sonus faber audio system for the Lamborghini Revuelto combines technology, design and performance as well as the Made in Italy trademark, reflecting the heritage of both our brands and delivering our clients with a uniquely tuned in-car audio immersion.” Read More
The Ordinary General Meeting in Horisont Energi will be held on Wednesday 29 May 2024 at 12.30 CET at the company’s main office at Grenseveien 21, Sandnes, Norway. Please find the enclosed notice with the agenda and practical information about the Annual General Meeting. Read More
Reference is made to the stock exchange announcement by Nel ASA (Nel, OSE: NEL) on 28 February 2024 regarding the potential spin-off of its Fueling division into a separate company and listing of this company on the Oslo Stock Exchange. The new company will be named Cavendish Hydrogen, a tribute to the English scientist Henry Cavendish, noted for the discovery of hydrogen.
The purpose of the spin-off is to create two independent pure-play companies aiming to become market leaders in their respective fields.
Furthermore, Nel is pleased to announce that the following have been elected as members of the board of directors of Cavendish Hydrogen
– Jon André Løkke (Chair)
– Mimi K. Berdal (Board Member)
– Vibeke Strømme (Board Member)
– Allan Bødskov Andersen (Board Member)
– Kim Søgård Kristensen (Board Member)
Robert Borin will act as CEO, and Marcus Halland will act as CFO of Cavendish Hydrogen.
Nel has also completed an internal reorganization whereby Nel’s assets, rights, and liabilities related to the Fueling division and shares in the relevant Fueling subsidiaries have been transferred from Nel to Cavendish Hydrogen. Subject to Nel’s decision to complete the spin-off and pursue the separate listing of Cavendish Hydrogen, the shares in Cavendish Hydrogen are intended to be distributed to the shareholders of Nel as dividend in kind. Read More
Kent has been awarded a key Front-End Engineering Design (FEED) contract for the INEOS Hejre project. This prestigious award was won in a competitive bid and highlights Kent’s extensive expertise and capabilities in the subsea and offshore sectors.
The Hejre project, an offshore High Pressure High Temperature (HPHT) development, is located in the Danish sector of the North Sea. It is planned as a tie-back to the South Arne field, utilising the existing Hejre jacket structure. Kent’s responsibilities under this contract include the complete FEED design for the pipeline, tie-in spools, retrofit risers, and subsea power & fibre optics cable.
Usman Darr, Engineering and Consulting Managing Director for the UK at Kent, expressed his enthusiasm about the project, stating, “We are thrilled to continue our partnership with INEOS Energy Denmark on the Hejre project. Having successfully completed the pre-FEED for the full project scope, this new phase allows us to further demonstrate our robust FEED capabilities and deep understanding of the unique challenges in subsea and offshore engineering, particularly in the challenging conditions of the North Sea.”
Rasmus Enemark-Rasmussen, Project Manager at INEOS, added, “We are delighted to deepen our collaboration with Kent. Their performance in the Hejre pre-FEED phase, coupled with their pivotal role in vital energy transition projects like Greensand, underscores the strength and importance of our ongoing partnership.”
Kent’s ongoing involvement with INEOS projects extends beyond Hejre. The company is also engaged in study work for the Greensands Carbon Capture and Storage (CCS) project, further solidifying its position as a critical partner in INEOS’s operations in Denmark.
This contract not only reinforces Kent’s commitment to supporting INEOS Energy Denmark but also underscores the strength and depth of its engineering expertise in handling complex offshore projects in the North Sea region. Read More
Eni announces the publication of its voluntary sustainability report “Eni for 2023 – A Just Transition,” which traces the progress made over the past year, highlighting the company’s commitment to promoting a just energy transition, aiming for carbon neutrality by 2050.
“In the global context characterized by complex and evolving dynamics, we are called upon to find answers to emerging socio-political, climate and energy challenges and to give our support, with an approach focused on security, innovation and sustainability,” says Claudio Descalzi, Eni’s Chief Executive Office. “Energy remains a crucial junction, since it inherently provides a sense of security and opportunities for development. – He continues – The energy transition is irreversible, and we must ensure its realisation without sacrificing the production system and social sustainability.”
The year 2023 was a significant one for Eni as it celebrated its 70th anniversary. Eni has made decarbonization an even more integral part of its business strategy, with an industrial transformation plan aimed at offering progressively decarbonized products and services to achieve carbon neutrality by 2050, with clear intermediate targets as early as 2025. Also through major targeted investments in research and development, Eni has already reduced net Scope 1 and 2 emissions in the Upstream sector by 40% and overall emissions by 30%, compared to 2018. Particular attention is given to reducing methane emissions (decreased by more than 20% by 2023 for the Upstream business), which is also evidenced by the recognition of the ‘Gold Standard’ under the Oil & Gas Methane Partnership 2.0 programme promoted by the United Nations Environment Programme (UNEP) and membership in numerous international initiatives, including the World Bank’s Global Flaring and Methane Reduction fund. The company also has established strategic collaborations with international partners, such as Sonatrach in Algeria, EGAS in Egypt, and ADNOC in the United Arab Emirates, to support its partners in meeting the challenges of the energy transition.
In line with the agreement reached at COP28, Eni agrees with the need for the energy transition to take place in a fair, orderly, just, and pragmatic manner. This perspective includes both the investments to reduce emissions related to Oil and Gas production and expand the gas portfolio, a bridging vector in the energy transition pathway (the acquisition of Neptune Energy, the start-up of the production from the Congo LNG project), and the expansion in the renewables sector with Plenitude’s 3 GW of installed capacity, the birth of Enilive, and the expansion of biorefining capacity for more sustainable mobility or Carbon Capture & Storage projects, particularly in Italy and the United Kingdom. Investment also continues to accelerate the industrial development of magnetic confinement fusion, which would enable the safe and virtually unlimited generation of large amounts of zero-emission energy. Read More
CB&I, a subsidiary of McDermott, was presented three Tank of the Year awards by the Steel Tank Institute/Steel Plate Fabricators Association (STI/SPFA) for projects completed in 2023. The awards were presented at the STI/SPFA annual meeting in Scottsdale, Arizona on April 18-20, 2024.
ASME Pressure Vessel of the Year – Two 500,000-gallon Liquid Hydrogen Spheres for Plug Power located in Alabama, NY
API 620 Low Pressure Liquid Storage Tank of the Year – 12-million-gallon single-containment LNG Tank for WEC Energy Group located in Bluff Creek, WI
API 650 Atmospheric Storage Tank of the Year – Two Wet Seal Gasholders (both client and location are confidential)
“I am proud of and grateful for all our employees who made this prestigious recognition possible,” said Cesar Canals, President & CEO of CB&I. “Congratulations, and thank you for your constant focus during the design, fabrication, and construction of our steel plate tanks and high-pressure spheres.”
STI/SPFA is a non-profit trade association whose member companies fabricate steel tanks, pipe and pressure vessels for use across various industries. Read More
The latest addition to Oslo’s ever growing fleet of floating saunas features a universal design to accommodate everyone, regardless of ability, and an innovative façade made of recycled aluminium from Hydro. The new flagship of the Oslo Sauna Association was unveiled on May 15, 2024.Trosten is the world’s first floating sauna clad in aluminium, a material with ideal properties for an object exposed all year long to the Nordic climate. It is highly resistant to corrosion, which ensures long lasting durability in a harsh seawater environment.
Hydro CIRCAL, used in Trosten’s construction, contains a minimum 75 percent recycled post-consumer aluminium scrap, which drastically reduces the carbon footprint.
Trosten’s main attribute is its universal design, featuring access ramps and spacious interiors to accommodate people of all abilities. This makes it a long awaited addition to the highly popular Sukkerbiten sauna village, located right in front of the Munch Museum in Bjørvika, Oslo. Read full article
Eni today announces the publication of its voluntary sustainability report “Eni for 2023 – A Just Transition,” which traces the progress made over the past year, highlighting the company’s commitment to promoting a just energy transition, aiming for carbon neutrality by 2050. “In the global context characterized by complex and evolving dynamics, we are called upon to find answers to emerging socio-political, climate and energy challenges and to give our support, with an approach focused on security, innovation and sustainability,” says Claudio Descalzi, Eni’s Chief Executive Office. “Energy remains a crucial junction, since it inherently provides a sense of security and opportunities for development. – He continues – The energy transition is irreversible, and we must ensure its realisation without sacrificing the production system and social sustainability.” The year 2023 was a significant one for Eni as it celebrated its 70th anniversary. Read full article
The Ordinary and Extraordinary Meeting of Eni’s Shareholders, resolved the following:
(ordinary part)
to approve the statutory financial statements at December 31, 2023 of Eni S.p.A. which report a net profit amounting to €3,272,366,066.40;
to allocate the net profit for the period of €3,272,366,066.40 to the available reserve;
pursuant to and for the purposes of Art. 114-bis of the Consolidated Law on Financial Intermediation and of Art. 2357- ter of the Italian Civil Code:
to approve the Employee Stock Ownership Plan 2024-2026 (“ESOP”), in favour to Eni employees in general, under the conditions set forth in the Informative Document made available to the Shareholders’ Meeting, granting the Board of Directors all the powers needed to implement the ESOP, also through persons delegated for this purpose;
– to authorize the Board of Directors to dispose of up to 10.5 million treasury shares to serve the implementation of the ESOP, of which: i) 4.1 million already in the portfolio free of encumbrances, of which 2.9 million were originally allocated to the previous 2020-2022 ILT Share Plan and not used; ii) 6.4 million arising from the share buyback programme authorised by the today Shareholders’ Meeting;
to authorise the Board of Directors – pursuant to and for the purposes of Art. 2357 of the Italian Civil Code – to proceed with the purchase of treasury shares of the Company, in multiple tranches, for a period up to the end of April 2025, for the purposes referred to in the Explanatory Report of the Board of Directors, within the terms and on the conditions set out below:
– the maximum number of shares to be purchased is equal to. 328,000,000 ordinary shares for a total outlay of up to € 3.5 billion, of which:Read full article
Teledyne FLIR Defense, part of Teledyne Technologies Incorporated, is introducing its new Rogue 1™ loitering munition system at this week’s Special Operations Forces (SOF) Week convention in Tampa.
Rogue 1 is a next-generation, rapidly deployed, and optionally-lethal vertical takeoff and landing (VTOL) small unmanned aerial system (sUAS) that enables warfighters to conduct precision-strikes against moving and stationary armored targets, soft-skinned vehicles, and dismounted threats. An advanced fuzing system on Rogue 1 features a first-of-its-kind mechanical interrupt that allows the aircraft to be safely recovered and reused when targets are disengaged or missions are aborted.
Leveraging Teledyne FLIR’s pedigree as the world’s premier sensor provider, Rogue 1 also features advanced electro-optical and FLIR Boson® 640+ thermal cameras to deliver day/night long-range reconnaissance and surveillance. Plus, a novel coupling between sensors and warhead in the gimballed payload enables extremely precise targeting. Operators can attach modular, mission-specific payloads with lethal effects designed for distinct target types. Users can choose from Explosively Formed Penetrator (EFP), Forward Fragmenting, or non-lethal Trainer payload options.
With a 30-minute flight time, burst speeds of more than 70 mph (113 kph), and range greater than six miles (10 km), the lightweight Rogue 1 was developed for today’s harsh battlefield conditions, including communication- and GPS-denied environments. Rogue 1 performs beyond the range and capabilities of existing organic weapon systems, while minimizing collateral damage and maximizing standoff. Read More
Siemens Gamesa minority shareholders approved a capital reduction for the remaining 2.21% of shares not held by Siemens Energy in the Extraordinary General Meeting of Shareholders held on June 13, paving the way for a full integration of both companies. The capital reduction was approved by 98.21% of the minority shareholders attending in person or by proxy (38.88%). Approval was contingent on a presence of at least 25% of the minority shareholders with an approval rate of at least two-thirds. As a result of the capital reduction, the shares of the minority shareholders are redeemed. For that, the shareholders will receive compensation of €18.05 per Siemens Gamesa share, the same price that was offered in the original tender offer by Siemens Energy in 2022.
“This is an important step in preparing for full integration. Besides, the turnaround program at Siemens Gamesa, Mistral, needs further rigorous execution, even though we see first moves in the right direction,” said Christian Bruch, CEO and President of Siemens Energy, and Chairman of Siemens Gamesa.
Jochen Eickholt, CEO of Siemens Gamesa, added: “I am pleased that our minority shareholders are supporting our effort to fully integrate Siemens Gamesa into Siemens Energy. We can now further streamline our structures so that we can focus one hundred percent on improving our performance and achieving profitability.”
Siemens Energy announced the tender offer to acquire all remaining shares of Siemens Gamesa in May 2022. The tender offer concluded in December 2022, and following a sustained purchase order, Siemens Energy held around 98% of Siemens Games shares. Siemens Gamesa ceased trading on February 14, 2023. Upon completion of the transaction, Siemens Energy will have spent a total of €4.05 bn to acquire all shares not previously owned. In line with the target to maintain a solid investment grade rating, the transaction has mostly been financed with equity. Read More
ADNOC has delivered the world’s first certified bulk commercial shipment of low-carbon ammonia enabled by carbon capture and storage (CCS) to Mitsui & Co., Ltd. (Mitsui) for use in clean-power generation in Japan. The low-carbon certification process, from production to delivery, has been conducted by TÜV SÜD, an internationally renowned certification agency.
The landmark shipment produced by Fertiglobe was enabled by ADNOC’s $23 billion (AED84 billion) allocation towards decarbonization, low-carbon solutions and climate technologies and underscores its efforts to support its customers to decarbonize their operations, particularly in hard-to-abate sectors. It builds on previous demonstration cargos delivered by ADNOC to customers in Asia and Germany as the company accelerates development of global low-carbon hydrogen and ammonia value chains.
The cargo, sourced from Fertil, Fertiglobe’s 100%-owned facility located in the Ruwais Industrial City, Abu Dhabi, will see the carbon dioxide (CO2) captured and permanently stored in the world’s first fully sequestered CO2 injection well in a carbonate saline aquifer. The International Energy Agency (IEA) estimates that hydrogen will account for around 10% of global energy consumption for the world to reach net zero by 2050. ADNOC is an early mover in the production of hydrogen and it aims to capture 5% of the global low-carbon hydrogen market by 2030 in support of the UAE’s National Hydrogen Strategy. Low-carbon ammonia is the most promising at-scale hydrogen carrier and potential clean fuel for a wide range of applications, including transportation, power generation and industrial, including steel, cement, and fertilizer production. Read full article
The Annual General Meeting of Shareholders (the “AGM”) of Orrön Energy AB was held 15 May 2024, in Stockholm.
The Company’s and the Group’s income statements and balance sheets for the financial year 2023, were adopted and the members of the Board of Directors and the Chief Executive Officers were discharged from liability for the financial year 2023.
The AGM resolved that no dividends should be paid for the financial year 2023 and that the distributable reserves are brought forward.
The AGM resolved to approve the Remuneration Report prepared by the Board of Directors.
The AGM resolved to approve a revised Nomination Committee Process.
The AGM resolved to remunerate the members of the Board of Directors as follows: (i) annual fees of the members of the Board of Directors of EUR 60,000 (excluding the Chair of the Board of Directors); (ii) annual fees of the Chair of the Board of Directors of EUR 120,000; (iii) annual fees for Committee members of EUR 5,000 per Committee assignment (excluding the Committee Chairs); and (iv) annual fees for Committee Chairs of EUR 10,000; with the total fees for Committee work (including fees for Chairs of Committees), not to exceed EUR 50,000.
Grace Reksten Skaugen, Jakob Thomasen, Peggy Bruzelius, and William Lundin were re-elected as members of the Board of Directors and Mike Nicholson was elected as a new member of the Board of Directors for a period until the end of the 2025 AGM. Grace Reksten Skaugen was re-elected as Chair of the Board of Directors.
The AGM resolved that auditor’s fees shall be paid upon approval of their invoice. Ernst & Young AB was re-elected as the auditor of the Company for a period until the end of the 2025 AGM.
Further, the AGM resolved, in accordance with the Board of Directors’ proposals: Read More
Porsche celebrated the official start of electromobility at its production site in Saxony. In recent years, the sports car manufacturer has invested around 600 million euros in expanding the factory in order to produce the electric Macan here.Additions to the factory have included a new body assembly line. Production of the new Macan is currently being ramped up. The plant has been designed for maximum flexibility in the future, with petrol, hybrid and all-electric cars being made on a single production line.
Many prominent guests attended today’s celebrations. Representatives of Porsche AG included Chairman of the Supervisory Board Dr Wolfgang Porsche and Chairman of the Executive Board Oliver Blume. And from the political sphere, Dr Volker Wissing, Federal Minister for Digital and Transport, Michael Kretschmer, State Premier of the Free State of Saxony, Winfried Kretschmann, State Premier of Baden-Württemberg, and Burkhard Jung, Mayor of Leipzig. The members of the Porsche Sustainability Council were also in attendance. Read More
The Mercedes-Benz Museum is coming of age in 2024, and invites you to celebrate its birthday. It opened its doors in 2006, 18 years ago. Since then, over 12 million people have visited the Museum and its numerous events. Last year alone, there were more than 800,000 guests. The Museum is celebrating International Museum Day on 19 May 2024. On this particular Sunday, admission is free for all visitors.
The Mercedes-Benz Museum can be experienced particularly intensively on 19 May 2024, during the free guided tours. The tours dedicated to the automobile will take place at 11 am, 1 pm and 2.30 pm. Tours of the “Now on View” art exhibition are at 10 am, 12 noon, 2 pm and 4 pm. Participation is only possible by registering beforehand on the day of the event – at the ticket desks in the atrium. Read More
Mercedes-AMG is expanding its sports car line-up. The AMG GT 43 Coupé is now available to order at retail partners or online (Energy consumption combined: 10.3 l/100 km | CO₂ emissions combined: 235 g /km | CO₂ class: G)[2]. The combination of the relatively lightweight four-cylinder engine at the front and purely rear-wheel drive makes the new model extremely agile through bends with exceptionally dynamic handling. The result is a high level of driving fun. The exclusive AMG sports car architecture enables the generous proportions with optional 2+2 seating. For a sports car of this class, the outcome is a very spacious feel on longer journeys with plenty of room for luggage. The large EASY PACK tailgate including the HANDSFREE ACCESS function makes loading and unloading easier. If necessary, the luggage compartment can be expanded significantly using the split folding rear seat backrests.
Standard equipment for the AMG GT 43 Coupé includes the AMG SPEEDSHIFT MCT 9G transmission with wet starting clutch and AMG high-performance ceramic composite brake system. Likewise on board are the Parking Package with reversing camera, the AMG Performance steering wheel in Nappa leather, AMG sports seats in black Nappa leather, THERMOTRONIC automatic climate control and the PRE-SAFE® system. The new coupé runs as standard on 19-inch AMG alloys with a front/rear tyre mix. Up front are 9.5 J x 19 rims running on 255/45 R 19 tyres. At the rear are 11.0 J x 19 rims with 285/40 R 19 tyres. The choice of standard exterior paint finishes encompasses the solid colour sun yellow uni as well as obsidian black metallic, high-tech silver metallic, spectral blue metallic and selenite grey metallic.. Read More
Mercedes-Benz is aiming to substantially advance its circularity strategy in relation to end-of-life vehicles. The MoU relates to the recovery of secondary materials through so-called “urban mining”. With this pilot project Mercedes-Benz expects to gain a deeper understanding of the potential of post-consumer materials in Europe, focusing on steel, aluminium, polymers, copper and glass. Together, the two companies plan to analyse the demand for and source of secondary materials and conduct a commercial evaluation. Thereby, Mercedes-Benz makes another step towards establishing a true closed-loop approach for end-of-life vehicles. The partners intend to develop activities that will provide access to material flows that would otherwise be exported to other sectors and countries. The aim is to avoid so-called downcycling, whereby recycled materials are subject to a loss of quality. One current example is a planned cooperation with TSR and another tier-1 supplier for recycled aluminium. This first-of-a-kind material has an 86-percent content of post-consumer recycled aluminium and reduces CO₂ emissions by 73 percent. First press tests for prototype parts have been successful. Evaluation is ongoing and Mercedes-Benz looks forward to putting this into series production as soon as possible.
By working directly with partners, the company is pursuing its responsibility to actively drive the expansion of the circular economy in the future. Such initiatives are central to achieving Ambition 2039, which aims to make the fleet of new passenger cars net carbon-neutral over the vehicles’ entire lifecycle by 2039. Read more
The UK’s used car market rose by 6.5% in the first quarter of 2024 with 1,967,923 units finding new owners – the strongest start to a year since pre-pandemic 2019, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT).1 The increase marks 16 months of successive growth, reflecting recovering supply in the new car market which is in turn improving availability and choice of second-hand motors. Used car transactions have risen in every month of the year to date1 but, despite this robust growth, the quarter’s transactions remain -2.6% below pre-Covid levels.2 Increasing numbers of battery electric vehicles (BEVs) are now entering the used sector, with Q1 sales up by more than two thirds (71.0%) to 41,505 – posting a new record market share of 2.1%. This makes BEVs the fastest growing powertrain as more buyers are attracted to the potential cost-saving and environmental benefits. Hybrids (HEVs) also continued to sell in greater volumes, with 74,502 changing hands in a 49.3% rise. Plug-in hybrids (PHEVs), too, grew in popularity, with sales up 42.5% to 22,065. Read More
irbus has finalised the acquisition of U.S.-based Aerovel and its unmanned aerial system (UAS), Flexrotor, in a move to strengthen its portfolio of tactical unmanned solutions. Flexrotor is a small tactical unmanned aerial system designed for intelligence, surveillance, target acquisition and reconnaissance (ISTAR) missions at sea and over land.
“We see more and more armed forces and parapublic agencies around the world looking to investigate how unmanned aerial systems can strengthen their intelligence and surveillance capabilities. The Flexrotor, as a vertical takeoff and landing UAS, fits into our strategy to expand our UAS offerings. Together with the VSR700, we will continue to develop manned-unmanned teaming to offer our customers the enhanced and expanded mission capabilities that they require to monitor and safeguard their communities and critical infrastructure, while preserving essential assets such as helicopters,” said Mathilde Royer, Head of Strategy and Sustainability at Airbus Helicopters.
The Flexrotor, a modern Vertical Takeoff and Landing (VTOL) Unmanned Aircraft with a maximum launch weight of 25 kg (55 lbs), has been designed for ISTAR missions for more than 12-14 hours in a typical operational configuration. It can integrate different types of payloads including an electro-optical system and advanced sensors to suit customers’ unique mission needs. With the ability to autonomously launch and recover from either land or sea requiring only a 3.7 by 3.7 m (12 by 12 ft.) area, the Flexrotor is ideal for expeditionary missions requiring minimal footprint. Through the support of the US Department of Defense (DoD), and contracted deployment in a variety of maritime security exercises, the Flexrotor is a mission-proven, force multiplier for operations in harsh, high-threat, GPS-denied environments. The Flexrotor is also being operated for parapublic missions such as forest fire surveillance (providing firefighters with critical images day or night) and can address other demanding mission needs, including ice navigation (helping guide naval vessels through ice in the Arctic ocean), law enforcement, and border patrol. Read More
Airbus Helicopters and Babcock have been awarded a contract to support 48 EC145s operated by the French Ministry of Interior. The 12 year contract that starts this year was signed with the Direction de la Maintenance Aéronautique (DMAé), the organisation in charge of maintenance for aircraft operated by the French government.
“The Sécurité Civile and Gendarmerie Nationale play a key role in safeguarding our communities in France. We are proud to have signed this contract which demonstrates their confidence in us and strengthens our partnership,” said Romain Trapp, Airbus Helicopters’ Executive Vice President Customer Support and Services. “We measure our responsibility in guaranteeing that their EC145s are available 24/7 for their critical missions.”
The contract covers the 33 EC145s operated by the Sécurité Civile and the 15 EC145s operated by the Gendarmerie air forces that are spread across 41 bases in France, including five bases in French overseas territories. The contract covers technical support (including industry technical representatives working on site), supply of spare parts, logistics solutions (transport of spares and stock management), technical data management and software support. Read More
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $78.64 | Up |
| Crude Oil (Brent) | USD/bbl | $82.72 | Down |
| Bonny Light | USD/bbl | $82.71 | Up |
| Saharan Blend | USD/bbl | $82.03 | Up |
| Natural Gas | USD/MMBtu | $2.39 | Up |
| Murban Crude | USD/bbl | $83.50 | Up |
| OPEC basket 15/05/24 | USD/bbl | $82.95 | Down |
The German Heron TP (GHTP), produced by UAV PEO at the Directorate of Defense, Research and Development at the IMoD and Israel Aerospace Industries, has today (15.5.2024) flown in German airspace for the first time. The Remotely Piloted Aircraft System (RPAS) was customized for the unique requirements of the German Ministry of Defence, as part of a joint venture between IAI, Israel’s Ministry of Defense’s Directorate of Defense Research and Development (DDR&D), and Airbus. The close cooperation between Airbus, IAI, DDR&D and the German Armed Forces, ensured development of a RPAS which exhibits both advanced performance and operational readiness while also providing the German Armed Forces with additional capabilities. The flight was conducted in the presence of the senior representatives from the German Air Force, the DDR&D at the Israeli Ministry of Defense, Airbus and, IAI. This historic event is an important step towards reaching full operational capability. Read full article
Baker Hughes Rig Count: : U.S. -2 to 603 Canada -4 to 116
U.S. Rig Count is down 2 from last week to 603 with oil rigs down 3 to 496, gas rigs up 1 to 103 and miscellaneous rigs unchanged at 4.
Canada Rig Count is down 4 from last week to 116, with oil rigs unchanged at 60, and gas rigs down 4 to 56.
International Rig Count is up 7 rigs from last month to 978 with land rigs up 7 to 743, offshore rigs unchanged at 235
The Worldwide Rig Count for April was 1,726, down 67 from the 1,793 counted in March 2024, and down 82,from the 1,808 counted in April 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 10 May 2024 | 603 | -2 |
| Canada | 10 May 2024 | 116 | -4 |
| International | April 2024 | 978. | +7 |
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