Daily Energy/Automotive News Headlines May 29, 2024
London, 29 May 2024, (Oilandgaspress): – The IMF estimates that Saudi Arabia, OPEC’s largest member country, would like to see oil prices well above $90/bbl to balance its budget according to media reports.
‘Motor City,’ Detroit is working to show the world that sustainable mobility is part of what makes this ‘Motor’ move by seeking innovators who can help the City deploy clean and cost-effective mobility solutions as part of this transition. The Challenge is focused on Eastern Market, the nation’s largest food production and distribution center, where a growing residential and commercial presence means that the City wants to explore solutions that help preserve the health and well-being of the Eastern Market community as it carries through with expansion plans. More specifically, the Detroit City Challenge will seek solutions that reduce fossil fuel use and cut costs of freight operations in the Eastern Market, by increasing efficiencies and unlocking opportunities for clean freight technologies.
Tim Slusser, Chief of the City of Detroit’s Office of Mobility Innovation, said: “We’re excited and honored to be one of just three cities in the world selected for the Sustainable Cities Challenge. As the only city chosen in the western hemisphere, Detroit represents over one hundred years of world-renowned innovations in transportation. As Detroit continues to grow, we want to learn how to address the ways that freight and industry can be more sustainable, while also supporting the economy in thriving areas such as our Eastern Market – especially in very cold conditions. We look forward to building out the groundwork for this project and what the next stage brings!” The Detroit City Challenge will launch on Wednesday, May 29, 2024. Read More
BW Energy Limited has appointed Brice Morlot as Chief Financial Officer (CFO) effective from 30 June 2024. Mr. Morlot succeeds Knut R. Sæthre, who has been the CFO of BW Energy since 2019, contributing significantly to the company’s financial stewardship and strategic direction.
Mr. Morlot brings extensive experience to the Company, combining a solid financial understanding with an operational background in the E&P business. Most recently, serving as Managing Director of Assala Energy in Gabon, and before that, from other leadership roles in Assala, SCOR and Perenco. He will be based in BW Energy’s office in Lisbon Portugal. Mr. Morlot will undergo a transitional period working closely with Mr. Sæthre to ensure a seamless handover.
“We look forward to Brice joining the BW Energy team as we deliver on our strategy for growth and value creation with producing fields and highly attractive development assets in Gabon, Brazil and Namibia,” said Carl K. Arnet, the CEO of BW Energy.
Reflecting on Mr. Sæthre’s tenure, CEO Carl K. Arnet further commented; “I have had the privilege of collaborating with Knut for close to 20 years across several businesses from APL, via BW Offshore and now most recently at BW Energy. His period as CFO has been marked by exemplary financial acumen and leadership. His contributions have been pivotal in positioning BW Energy for sustained success.”
Mr. Sæthre expressed gratitude for his time with BW Energy, stating; “It has been a rewarding experience to be part of the journey, and I am immensely proud of our collective achievements. I have full confidence in Mr. Morlot’s ability to excel in his new role, given his extensive business knowledge.” Read More
As part of President Biden’s Investing in America Agenda, the U.S. Environmental Protection Agency announced the selection of five recipients from across the country for grants to tackle the climate crisis by reclaiming and destroying hydrofluorocarbons, highly potent greenhouse gases commonly used in refrigeration and air conditioning. Collectively, recipients will receive nearly $15 million in HFC Reclaim and Innovative Destruction grants from President Biden’s Inflation Reduction Act, the largest climate investment in history. “This diverse set of projects will tackle the destruction and reclamation of HFCs in innovative ways to help protect our climate and bolster American technologies,” said Joe Goffman, Assistant Administrator for the Office of Air and Radiation.
The funding made possible by President Biden’s Inflation Reduction Act will range from $1,500,000 to $3,801,100 and support broader Biden-Harris Administration efforts to support a growing American industry on effectively managing HFCs. The selectees for this grant program are The University of Washington, Texas A&M University, Drexel University, University of California-Riverside, and the Air Conditioning, Heating and Refrigeration Technology Institute. By increasing the reuse of existing HFCs, selected projects are expected to further reduce our economy’s need for new HFCs and reduce overall HFC impacts on our climate.
HFCs are a class of potent greenhouse gases commonly used in refrigeration and air conditioning, aerosols, and foam products. Their climate impact can be hundreds to thousands of times stronger than the same amount of carbon dioxide. Under the bipartisan American Innovation and Manufacturing Act, the Biden-Harris Administration is phasing down HFCs to achieve an 85% reduction below historical levels by 2036. President Biden also signed the U.S. ratification of the Kigali Amendment, and international agreement to phase down these super-polluting HFCs and avoid up to 0.5 °C of global warming by 2100. Read More
(Reuters) – China’s BYD (002594.SZ), opens new tab launched on Tuesday the latest version of a plug-in hybrid technology that improves fuel and cost savings, intensifying competition with the likes of Toyota and Volkswagen that still sell mainly gasoline cars.
BYD’s chairman Wang Chuanfu unveiled the fifth generation of the hybrid technology that achieves a record low fuel consumption of 2.9 litres per 100 km (62.1 miles) on depleted batteries at an event in Shaanxi province’s capital Xian. Read More
Subaru Corporation (Subaru), Toyota Motor Corporation (Toyota), and Mazda Motor Corporation (Mazda) have each committed to developing new engines tailored to electrification and the pursuit of carbon neutrality. With these engines, each of the three companies will aim to optimize integration with motors, batteries, and other electric drive units. While transforming vehicle packaging with more compact engines, these efforts will also decarbonize ICEs by making them compatible with various carbon-neutral (CN) fuels. This process has clarified the role that future engines will play in achieving carbon neutrality. With the next generation of engines, the three companies will seek to not only improve standalone engine performance but also optimize their integration with electric drive units, harnessing the advantages of each.
While being highly efficient and powerful, the new engines will also revolutionize vehicle packaging by being more compact than existing models. Smaller engines will allow for even lower hoods, improving design possibilities and aerodynamic performance while contributing to better fuel efficiency. The development will also emphasize compliance with increasingly strict emissions regulations. Read More
Hanwha Corporation and INEOS Nitriles have today announced their intention to collaborate in a study for a low-carbon ammonia facility with carbon sequestration in the USA, with a capacity of more than 1 million tonnes per annum. The location of the plant is yet to be determined.
The two companies agreed Heads of Terms, under which Hanwha and INEOS will together explore the feasibility of a facility to meet the growing global demand for ammonia with low-carbon emissions. The final investment decision is planned for 2026 with planned commercial operation in 2030.
“Our collaboration with INEOS Nitrites is aimed at strengthening our strategic foothold in the global ammonia market and addressing the growing worldwide demand for clean ammonia solutions,” said Kiwon Yang, CEO of Hanwha Corporation. He further stated, “The production of industrial materials using clean ammonia aligns well with our commitment to key sustainability principles. This technological advancement will be a pivotal turning point in realizing Hanwha’s vision for a sustainable future.”
“This project is a potentially important contributor to INEOS Nitriles’ carbon emission reduction targets in 2030 and its net zero ambitions by 2050. This project would be a significant step towards a leadership position in low-carbon Acrylonitrile supply of which ammonia with low-carbon emissions is a key raw material. INEOS positions itself to find solutions to the challenges the world is facing and is looking forward to achieving a net zero economy whilst both continuing to deliver products that are essential to society and remaining competitive”, said Hans Casier, CEO of INEOS Nitriles. Read More
Grandson Surprises Grandpa by Restoring 1954 Pickup Sitting Broken for 40 Years: ‘I never thought I’d live to see that’. A son recently surprised his grandfather by repairing his 70-year-old pickup truck to a fully functioning automobile, and the video will bring a tear to your eye. Read More
Golar LNG Limited announced that it has issued its 2023 Environmental, Social and Governance (“ESG”) report. This comprehensive report details how Golar’s technology and business model including its flagship FLNG business and promising small-scale Flare to Gas (F2X) business, which captures and monetizes flare gas onshore, can help advance the global energy transition to a lower carbon future whilst benefitting the communities we operate in. Read full article
Golar LNG Limited Interim results for the period ended March 31 2024
Highlights and subsequent events
Golar LNG Limited reports Q1 2024 Net income attributable to Golar of $55 million inclusive of $6 million of non-cash items1, and Adjusted EBITDA1 of $64 million.
FLNG Hilli maintained 100% economic uptime and market leading operational track record.
FLNG Gimi on standby day rate ready to commence operations for BP.
Framework Agreement announced in our Q4 2023 earnings report now progressed to detailed contractual negotiations for FLNG deployment. Additional FLNG deployment opportunities in advanced development.
0.7 million shares repurchased during Q1 at an average price of $20.87 per share.
Declared dividend of $0.25 per share for the quarter.
FLNG Hilli: Maintained her market leading operational track record, generating $68 million of Q1 Distributable Adjusted EBITDA1, of which Golar’s share was $64 million, a $20 million decrease compared to Q4 2023. Most of the decrease is attributable to a reduction in realized TTF commodity swap gains and lower Brent oil prices.
FLNG Gimi: Moored at the GTA Hub offshore Mauritania and Senegal, ready to commence operations. During April, Golar received its first standby day rate cash payment from March 13, 2024 onwards, paid monthly in arrears. Pre-Commercial Operations Date contractual cash flows are expected to be deferred on the balance sheet and released over the contract term from the Commercial Operations Date (“COD”). The operators, BP and Kosmos, and Golar have reached an agreement in principle to resolve the disputed amounts for pre-COD cash flows from January 10, 2024, subject to final documentation and stakeholder approval. If made effective this agreement will provide Golar with progressive stage payments from January 10, 2024 until COD.
The client’s FPSO has now arrived at the project site. Hookup and commissioning of the FPSO are on the critical path to first gas and are expected to complete in the third quarter of 2024. Commissioning of FLNG Gimi can commence thereafter. FLNG Gimi’s commissioning period is expected to be approximately six months, concluding with COD. Together with the client we are making positive progress in exploring options to bring forward parts of the commissioning process that could shorten this six-month commissioning period. COD triggers the start of the 20-year Lease and Operate Agreement that unlocks the equivalent of around $3 billion of Adjusted EBITDA Backlog1 to Golar and recognition of the contractual day rate comprised of capital and operating elements in both the balance sheet and income statement. Read full article
Golar LNG Limited has declared a total dividend of $0.25 per share to be paid on or around June 17, 2024. The record date will be June 10, 2024.
Due to the implementation of the Central Securities Depository Regulation (“CSDR”), please note the information below on the payment date for the small number of Golar shares registered in Norway’s central securities depository (“VPS”):
Dividend amount: $0.25 per share
Declared currency: USD. Dividends payable to shares registered in the VPS will be distributed in NOK
Last day including right: June 6, 2024
Ex-date: June 7, 2024
Record date: June 10, 2024
Payment date: On or about June 17, 2024. Due to the implementation of CSDR in Norway, dividends payable to shares registered in the VPS will be distributed on or about June 19, 2024. Read full article
SLB announced the award of a sizeable contract by Equinor to its OneSubsea™ joint venture. The award leverages an existing long-term contract for the execution of the second stage of Phase 3 for Equinor’s Troll project in the North Sea, offshore Norway.
To accelerate field delivery of the subsea tieback to existing infrastructure, SLB OneSubsea will leverage configurable solutions compliant with NCS2017+ for standardized subsea production systems for application in the Norwegian Continental Shelf (NCS). The objective for Troll Phase 3, Stage 2 is to accelerate production from the reservoir equivalent to about 55 billion standard cubic meters of gas.
“We deeply appreciate our long-standing relationship with Equinor, and we look forward to continuing our collaboration on the Troll field,” said Mads Hjelmeland, CEO of SLB OneSubsea. “This frame agreement is and has been an important conduit for joint value creation, supporting the transparency, teamwork and collaborative solutions necessary to unlock maximum value from our NCS projects together.”
The Troll field is located in the northern part of the North Sea, offshore Norway. The 8-well project, with a tieback to the Troll A Condeep platform, is the latest to be signed under the collaborative frame agreement signed with Equinor in 2017 and further cements SLB OneSubsea’s position as a trusted supplier to Equinor. The expanded scope includes nine standard NCS2017+ vertical trees including wellheads, tubing hangers, subsea control modules, compact bridge modules with wet gas flow meters, two 4-slot templates, topside controls integration, and two umbilicals. Read More
TE H2 a joint-venture between TotalEnergies and EREN Groupe, together with VERBUND, Austria’s leading electricity company, have signed a Memorandum of Understanding with the Republic of Tunisia to study the implementation of a large green hydrogen project named “H2 Notos” for export to Central Europe through pipelines. H2 Notos aims to produce green hydrogen using electrolysers powered by large onshore wind and solar projects and supplied with desalinated sea water. The project aims to produce 200,000 tons of green hydrogen annually during its initial phase, with the potential to scale up production to one million tons per year in South Tunisia. The project will have access to the European market through the “SoutH2 Corridor”, a hydrogen pipeline project connecting North Africa to Italy, Austria, and Germany, which is expected to be commissioned around 2030.
TE H2, together with VERBUND, will be leading the development, financing, construction, and operation of the integrated project from production of green electricity to production of green hydrogen. In addition, VERBUND will coordinate the transport of the produced hydrogen towards Central Europe. Read More
Vietnam Airlines, the flag carrier airline of Vietnam, has operated its first flight using Neste MY Sustainable Aviation Fuel™. A Vietnam Airlines Airbus A321 was refueled with blended sustainable aviation fuel (SAF) at Changi Airport in Singapore for its return flight to Hanoi, Vietnam on May 27, 2024.
This milestone marks Vietnam Airlines as the first airline in Vietnam’s history to utilize sustainable aviation fuel (SAF) for commercial passenger flights. Additionally, the airline became the first visiting carrier from the Asia-Pacific region to benefit from Neste’s SAF supply capabilities at Singapore Changi Airport. Neste produced the SAF at its Singapore refinery and after blending the SAF with conventional jet fuel, the fuel blend was supplied to Vietnam Airlines using Neste’s integrated supply chain into the Changi Airport.Vietnam Airlines’ flight with Neste-produced sustainable aviation fuel demonstrates Neste’s ongoing commitment to supporting airlines on their journey to reduce aviation-related emissions and to raise awareness of SAF as a key lever to reduce air travel emissions. Read More
Neste, Marubeni Corporation and Resonac Corporation have entered into a cooperative agreement to enable the production of renewable olefins and derivatives. The cooperation involves Neste RE™, a Neste-produced renewable raw material, being used to manufacture products at leading Japanese chemical company Resonac’s Oita Complex in Japan. Marubeni, a major Japanese general trading and investment conglomerate, will coordinate all logistical arrangements from Neste to Resonac.
Renewable Neste RE is a bio-based feedstock used in steam crackers. It is made from 100% renewable raw materials such as waste and residue oils and fats. Consisting of pure hydrocarbons, Neste RE can be used to replace conventional feedstock such as fossil naphtha in chemicals value chains, contributing to a reduction in greenhouse gas (GHG) emissions.
“Replacing fossil resources in the production of plastics is one of the major challenges the industry faces. We are excited to team up with Marubeni and Resonac in tackling this challenge. The sustainability transformation requires committed frontrunners and that is exactly what Marubeni and Resonac are,” says Carrie Song, Senior Vice President, Commercial, Renewable Products at Neste. “We are excited to embark on a project to build the value chain for renewable chemicals, partnering with Neste, the world’s leading renewable feedstock supplier, and Resonac, a leading chemical company in Japan. We aim to contribute to the carbon neutrality of the petrochemical industry by establishing a trade flow of diverse renewable feedstocks in addition to conventional raw materials,” says Yoshiaki Yokota, Chief Executive Officer Energy & Infrastructure Solution Group at Marubeni. Read More
Neste welcomes the allowance of unrestricted sales of paraffinic diesel fuels according to the DIN EN 15940 fuel standard in Germany. The sales of unblended, 100% renewable diesel (also known as “HVO100”) has previously only been allowed in specific segments, such as in non-road vehicles and public transportation. The approval that has now come into force allows for 100% renewable diesel to be sold and used in all segments in Germany. With this approval, Germany is following other EU countries such as Belgium, the Netherlands, Finland and Sweden in which the sale of 100% renewable diesel at public fueling stations has long been permitted.
“The approval for the sale of 100% renewable diesel at public fueling stations in Germany provides essential regulatory clarity for fuel manufacturers and enables fuel sellers to finally make this lower-emission fuel available to all. This is a milestone on the way towards the urgently needed defossilization of the transport sector, which requires the use of all available solutions,” says Jörg Hübeler, from Neste’s Renewable Products Business Development team. “Companies and other organizations with private vehicle fleets and private consumers in Germany can now finally use 100 percent renewable diesel and immediately and significantly reduce the greenhouse gas emissions of their diesel vehicles,” says Jörg Hübeler. Read More
Lithium Universe Limited announce that the Company’s key lithium Board members and CEO visited Hatch Ltd’s (Hatch) Shanghai procurement office to establish the procurement strategy for the Becancour Lithium Pro ject.
Lithium Universe aims to replicate the procurement success in Jiangsu at the Becancour Lithium Refinery in Quebec. Jiangsu had 60-70% of its plant supplied by top-quality Chinese suppliers, with the remainder coming from worldwide suppliers . By implementing rigorous quality control measures at the supplier’s manufacturing site, Galaxy was able to achieve top-quality equipment that aligned with international engineering standards.
Local fabricators have been servicing the Chinese li thium refinery industry for the last 15 years and key suppliers utilised for the Jiangsu project have become the backbone of the rapid expansion across the country. These same key suppliers utilised by the Galaxy team are well-known, reliable, and pr ovide a known quality product. It is critical for Lithium Universe to reduce the number of unknowns when planning the construction of the Becancour Refinery and partner with vendors who have a proven track record of delivery of specific plant and equ ipment. For Lithium Universe to be competitive and to build cost-effective lithium refineries, LU7 will be using the “same equipment, same supplier” procurement strategy. Firstly, utilising proven equipment designs, there will be reduced engineer ing work required for the Definitive Feasibility Study (DFS). Secondly, with the “same supplier” strategy, LU7 can tap into the original supplier’s design and construction experience, minimising the cost and time associated with repeated detailed eng ineering. Read More
Vestas continues to evolve our organisation to reflect our customers’ and broader value chain’s needs and is today announcing the next step in this evolution. This step entails Vestas uniting our Technology organisation (CTO) and Manufacturing & Global Procurement organisation (COO) into one Technology and Operations organisation (CTOO). The united CTOO organisation will become the foundation for one enterprise-wide industrial system within Vestas and will be headed by our current Chief Technology Officer, Anders Nielsen. The united CTOO-organisation is a natural next step in Vestas’ evolution of technology and product introductions, as well as manufacturing ramp-up by simplifying interfaces both within Vestas and across the value chain.
The united CTOO organisation utilises building blocks from our current global and regional operating model to minimise impact on operations and safeguard deliveries and project execution in 2024. The CTOO organisation is expected to be fully implemented during the third quarter of 2024. With Anders Nielsen becoming CTOO, our current COO, Tommy Rahbek Nielsen, has decided to pursue opportunities outside of Vestas after more than 25 years at Vestas. Tommy will leave Vestas by end of June 2024, following a handover of his responsibilities.
Henrik Andersen, Group President & CEO, says: “Vestas has built a strong backlog across onshore, offshore, and service towards the end of this decade, and we are today announcing the next step in our organisational evolution to deliver on our customer commitments. The united CTOO-organisation will help accelerate ramp-up and industrialisation across Vestas and the industry by simplifying interfaces, collaboration and strengthening our end-to-end approach. I’m very pleased Anders Nielsen has accepted to continue leading Vestas’ industrialisation forward, and I want to thank Tommy Rahbek Nielsen for his incredible contribution to Vestas for more than 25 years. In the role as COO, Tommy was pivotal in keeping Vestas running during the pandemic, and he has done an excellent job in maturing our COO-organisation to a level that enables us to take the next step for the benefit of Vestas.”
Creating the CTOO organisation is only expected to impact senior management roles and not entail any restructuring at an operational level. Read more
Hyundai Motor Group (the Group) announced today the appointment of Manfred Harrer as Executive Vice President and Head of the newly established Genesis & Performance Development Tech Unit. This unit operates under the Research & Development (R&D) Division of Hyundai Motor Company (Hyundai Motor) and Kia Corporation (Kia).
Harrer’s expertise and leadership capabilities will bolster the Group’s R&D competitiveness and drive the development of Genesis products, while enhancing the performance of Hyundai Motor and Kia vehicles as they transition into the electrification era.
“The appointment of Manfred Harrer as Executive Vice President and Head of the Genesis & Performance Development Tech Unit will greatly benefit Hyundai Motor Group products, enhancing the image and reputation of our mobility brands. As a world-renowned performance vehicle expert, Manfred will contribute significantly to the development of future Genesis luxury high-performance models, as well as our transition to electrification for Hyundai Motor and Kia brands,” said Heui Won Yang, President of the Hyundai-Kia R&D Division. The Group anticipates Harrer’s leadership will expedite its electrification transition, securing top-tier leadership in the electric vehicle (EV) era and enhancing the marketability of Hyundai Motor and Kia’s products. Read More
NEW RENAULT CAPTUR: TEST-DRIVING THE NEW B-SEGMENT VOITURE À VIVRE
The best in onboard technology with the OpenR Link multimedia system with Google built-in. A world first for a B-segment vehicle.
Recalibrated and retuned shock absorbers, drivetrain geometry and power steering for a more dynamic ride and increased driving pleasure.
The E-Tech full hybrid 145 powertrain meeting high standards in efficiency, with 4.6l/100 km and 105g CO2 /km (WLTP cycle).
The new E-SAVE function with the E-Tech hybrid 145 powertrain to maintain battery charge for optimum performance and efficiency.
New generation driving aids: Active Driver Assist for Level 2 autonomous driving and predictive hybrid driving.
My Safety Switch: a new function to enable or disable preferred settings for five ADAS at the same time.
Optimised traction with Extended Grip (optional, depending on the country), and its two specific modes: Snow and All-terrain.
A new Esprit Alpine level trim featuring High Gloss Black window surrounds, special 19-inch wheels (225/45R19 tyres), an aerodynamic splitter and front and rear skid plates with Slate Grey matt paintwork. Read More
Saudi Arabia may cut prices for most crude grades it sells to Asia in July, the first cut in five months, as Middle East benchmarks and margins for Asian refiners have weakened, refining sources said. The July official selling price (OSP) for flagship Arab Light crude is expected to fall by 30 to 50 cents a barrel, a Reuters survey of five refiners showed, after hitting a five-month high in June. The potential price reduction for Asia, which accounts for 82% of Saudi’s oil exports, underscores the pressure faced by OPEC producers as non-OPEC supply continues to grow while the global economy faces headwinds. The Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, is likely to extend voluntary supply cuts at the June 2 meeting. Read More
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $80.37 | Up |
| Crude Oil (Brent) | USD/bbl | $84.76 | Up |
| Bonny Light | USD/bbl | $83.26 | Up |
| Saharan Blend | USD/bbl | $82.81 | Up |
| Natural Gas | USD/MMBtu | $2.54 | Down |
| Murban Crude | USD/bbl | $85.03 | Up |
| OPEC basket 28/05/24 | USD/bbl | $84.00 | Up |
Idemitsu Kosan Co., Ltd. , ENEOS Corporation , Toyota Motor Corporation , and Mitsubishi Heavy Industries, Ltd. (“MHI”) announce that they have commenced a study toward the introduction and spread of carbon-neutral fuels that contribute to the decarbonization of automobiles with the aim of realizing a carbon-neutral society. Seeking to introduce carbon-neutral fuels in Japan around 2030, the four companies fulfilling major roles respectively in supply, technology, and demand will jointly embark on this study. Read full article
Prior to today’s General Meeting, the employees of Horisont Energi elected Celine Pithoud as the employee elected board member to the company’s board with Hilde Alexandersen as personal deputy. Both have been elected for a two-year term effective from this year’s General Meeting until the General Meeting in 2026.
Celine Pithoud has been with the company since 2022, initially serving as a procurement manager. She is currently a project management for the Polaris carbon storage project and brings valuable insights and competencies from her extensive experience in the energy sector including from companies such as Wintershall Dea and Equinor. Celine Pithoud holds three master’s degrees within business and administration, law, and supply chain management, and is a French citizen with permanent residency in Norway.
Following today’s General Meeting, the board consists of:
- Dr Gabriël Clemens (chair)
- Leif Christian Salomonsen (deputy chair)
- Silje Augustson (elected as board member for 2 years)
- Rolf Magne Larsen (board member)
- Rob Stevens (board member)
- Celine Claire Laure Pithoud (employee elected board member)
Rainer Bayerke continues as a personal deputy to Dr Gabriël Clemens.Read more
Horisont Energi has today held an Ordinary General Meeting. All items on the agenda were approved. Read more
Baker Hughes Rig Count: : U.S. -4 to 600 Canada +6 to 120
U.S. Rig Count is down 4 from last week to 600 with oil rigs unchanged at 497, gas rigs down 4 to 99 and miscellaneous rigs unchanged at 4.
Canada Rig Count is up 6 from last week to 120, with oil rigs up 7 to 64, and gas rigs down 1 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 | 24 May 2024 | 600 | -4 |
| Canada | 24 May 2024 | 120 | +6 |
| International | April 2024 | 978. | +7 |
For the third year in a row, Hyundai is being honored with the most category wins in U.S. News & World Report’s 2024 Best Cars for Teens awards. Four new Hyundai models are named, in addition to three previous-model-year Hyundai nameplates in used-car categories. This recognition highlights Hyundai’s ongoing commitment to providing safe, attainable and feature-rich options for young drivers.The 2024 Best New Cars for Teens
2024 Hyundai Elantra
Best Car for Teens $20K to $25K
2024 Hyundai Elantra Hybrid
Best Car for Teens $25K to $30K
2024 Hyundai Tucson
Best SUV for Teens $25K to $30K
2024 Hyundai Tucson Hybrid
Best SUV for Teens $30K to $35K
The 2024 Best Used Cars for Teens
2021 Hyundai Elantra Hybrid
Best Used Small Car for Teens
2020 Hyundai Sonata Hybrid
Best Used Midsize Car for Teens
2019 Hyundai Santa Fe
Best Used Midsize SUV for Teens Read full article
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