Daily Energy/Automotive News; Oil Prices Continue to Fall
London, 13 December, 2023, (Oilandgaspress): – Tesla is recalling more than 2 million vehicles fitted with Autopilot systems it has sold in the United States to fix a flaw that may not ensure that drivers pay attention when the driver-assistance system is engaged. The National Highway Traffic Safety Administration (NHTSA) said on Wednesday that 2,031,220 vehicles are involved in the safety recall. The vehicles to be recalled include certain model year 2012-2023 Model S that are equipped with Autosteer and were produced between October 5, 2012, and December 7, 2023, and all model year 2016-2023 Model X vehicles, all model year 2017-2023 Model 3 vehicles and all model year 2020-2023 Model Y vehicles that are equipped with Autosteer and were produced through December 7, 2023.
During the period from December 4 to December 8, 2023, Eni acquired on the Euronext Milan no. 5,595,589 shares (equal to 0.17% of the share capital), at a weighted average price per share equal to 14.9630 euro, for a total consideration of 83,726,564.84 euro within the second tranche of the treasury shares program approved by the Shareholders’ Meeting on 10 May 2023, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999.
On the basis of the information provided by the intermediary appointed to make the purchases, here below a synthesis of transactions for the purchase of treasury shares on the Euronext Milan on a daily basis: Read full article
The second image of the New Lancia Ypsilon has been unveiled today, following the first one revealed on November 27th, the brand 117th anniversary.
The front of the car is the protagonist in the second image and, as already anticipated with Lancia Pu+Ra HPE, showcases the iconic Lancia calice, a part of the brand’s tradition and now reinterpreted in a modern key, projecting it into the future through three LED light rays, making it iconic, memorable, and recognizable from afar, both day and night. The calice ideally embraces the new Lancia lettering, crafted in a satin-finished stainless steel and distinguished by the original font inspired by the world of fashion, ‘signing’ the new electric era of the brand to make it desirable and always contemporary. The front, inspired by the Lancia Beta Montecarlo will be glossy black to best highlight the new Lancia lettering as was in the Concept Lancia Pu+Ra HPE. The reveal of the model is scheduled for February 2024, through the exclusive NEW LANCIA YPSILON CASSINA LIMITED EDITION. With a 100% BEV engine, available in 1906 numbered and certified units, the model represents the first concrete step in the brand’s Renaissance journey, with a clear and ambitious electrification strategy that is moving ahead in leaps and bounds, in line with the Stellantis “Dare Forward” strategic plan and supported by Free2move Charge in a 360° integrated charging ecosystem. Read full article
The Board of Directors of the African Development Bank (AfDB) Group has approved a US$ 125 million loan for the modernisation of the Cahora Bassa hydroelectric scheme in Mozambique. Its power plant has an installed capacity of 2,075 MW. Good news for Hidroeléctrica de Cahora Bassa (HCB). The company that operates the Cahora Bassa hydroelectric scheme in Mozambique has just obtained a $125 million loan from the African Development Bank (AfDB). The recently approved funding is provided by the AfDB ($100 million) and the Growing Together in Africa Fund, a $2 billion facility funded by the People’s Bank of China (PBC) and administered by the AfDB.
The funding is for the implementation of the Vital Capex programme to upgrade its power generation system. The Cahora Bassa hydroelectric scheme consists of a 171m high, 300m long dam on the Zambezi River. The dam allows for the operation of a power plant with five 415 MW turbines, giving an installed capacity of 2,075 MW. It is the second largest operational hydroelectric plant in Africa after the Aswan plant in Egypt, with a capacity of 2,100 MW. Read full article
SolarEdge Technologies, Inc. announced its renewed participation in Great Britain’s Electricity System Operator’s (ESO) Demand Flexibility Service (DFS) scheme, as part of its portfolio of Virtual Power Plants (VPP). As part of the DFS that was introduced last winter and is now continuing its service, ESO asks consumers in Great Britain to reduce their electricity consumption during pre-scheduled demand events in order to help stabilize the grid in return for financial incentives. In contrast to homeowners paid by the DFS for manually reducing their energy consumption, SolarEdge Home Battery owners with an eligible export meter can earn financial incentives without having to change their home electricity consumption behavior. SolarEdge’s innovative technology will remotely schedule the batteries to automatically charge ahead of each DFS event and then maximize energy export to the grid during the event itself. This enables SolarEdge Home Battery owners to earn financial incentives without having to manually operate their batteries or change their consumption patterns. Read full article
Detroit, Michigan celebrated a major milestone in the future of vehicle electrification, as crews finished installing the nation’s first wireless-charging public roadway last month. Using technology from Electreon, 14th Street is now equipped with inductive-charging coils that will charge electric vehicles (EVs) equipped with receivers as they drive on the road. The road will be used to test and perfect the Israeli company’s wireless-charging technology in a real-world environment to perfect it ahead of making it available to the public in the next few years. The charging road, which runs between Marantette and Dalzelle streets, paves the way for addressing range limitations of EVs Read full article
Mitsubishi Power underscored its progress to fast track the development of the hydrogen ecosystem at COP28, which just concluded in Dubai, in the United Arab Emirates. In recognition of the key role of hydrogen to achieve the decarbonization of energy systems, over 30 countries launched last week the COP28 Declaration of Intent on Hydrogen which is designed to accelerate the commercialization of hydrogen on a global scale and meet global energy demand.
Mitsubishi Power is a frontrunner in developing a hydrogen ecosystem for the decarbonization of energy systems, harnessing decades of experience.
Investing heavily in the development of clean technology, the company has completed the world’s first 30% hydrogen blend power generation validation on a grid-connected state-of-the-art 1,650℃ class J-series Air-Cooled (JAC) gas turbine using hydrogen produced and stored on the same site. Read full article
New Mobility to Replace Trains
The JR Hitahikosan “Hikoboshi” Line was crippled by the heavy rains that struck northern Kyushu in 2017. On August 28, it restarted as a BRT service.
Standing for Bus Rapid Transit, BRTs are fast, efficient bus-based transit systems with features that include dedicated roads for smoother journeys and multi-section articulated vehicles.
Among the various buses running the BRT Hikoboshi Line is Toyota’s fuel cell (FC) electric bus. Toyota Times spoke with local residents to find out how they feel about this new transport option that has replaced the train. In the program’s second half, Chief Engineer Hirofumi Ota visits the studio to talk about a feasible carbon neutrality pathway for commercial vehicles that transport people and goods. Carmaking is also about developing communities. Mobility helps to revitalize regions by addressing issues such as the inequality of transportation access, depopulation, and labor shortages. Watch to see the hydrogen BRT and another world-first mobility solution created with this vision. In World Toyota News, Morizo Sensei visits an elementary school as part of TOYOTA GAZOO Racing’s special class on carbon neutrality. After sharing his message with the children, Morizo also took them for a “wild” spin in a hydrogen-engine car. Don’t miss a minute! Read More
ADNOC and the National Central Cooling Company PJSC (Tabreed), today announced the start of operations at G2COOL, the first district cooling project in the gulf region to harness geothermal energy. The landmark plant will further decarbonize the way buildings are cooled in Masdar City while diversifying the UAE’s energy mix in support of the UAE National Energy Strategy 2050. The G2COOL plant produces naturally occurring hot water found underground through two geothermal wells. The hot water is fed into absorbtion cooling technology to produce the chilled water needed by Tabreed for its district cooling activities. The chilled water derived from this source of clean energy accounts for 10% of Masdar City’s cooling needs. The project is enabled by ADNOC’s initial $15 billion (AED55 billion) allocation towards low carbon solutions and will support its decarbonization plan and net zero by 2045 ambition. Musabbeh Al Kaabi, ADNOC Executive Director for Low Carbon Solutions and International Growth, said: “This project is the latest in ADNOC’s strategy to develop and deploy technologies that will help our company and country to decarbonize. For the very first time, we have tapped into the abundance of clean underground thermal energy available here in the UAE. Early efficiency performance from the G2COOL plant has surpassed our expectations, proving that geothermal energy is a viable way to decarbonize the way we cool buildings, which is one of the most energy instensive activities in our region. I look forward to working with partners and pioneers to find fresh ways of harnessing this underground heat to further support ADNOC’s accelerated decarbonization plan and net zero by 2045 ambition.” The cooling of buildings accounts for up to 70% of the UAE’s electricity consumption. District cooling offers a sustainable alternative to traditional cooling methods as it is around 50% more energy efficient in its standard operations. Integrating geothermal energy within district cooling operations can significantly reduce electricity demand for cooling from the grid. Read More
ADNOC and the State Oil Company of Azerbaijan Republic (SOCAR) announced the signing of a strategic collaboration agreement (SCA) that sets out their intention to collaborate on the potential development of low carbon energy technologies. The SCA follows both ADNOC and SOCAR becoming founding signatories of the Oil and Gas Decarbonization Charter, signed at COP28, that sets shared targets to eliminate routine flaring and zero out methane emissions by 2030 and achieve net zero by 2050.
As part of the SCA, ADNOC and SOCAR will explore opportunities to work together to advance blue hydrogen, carbon management and geothermal technologies that can accelerate the decarbonization of energy systems in the UAE, Azerbaijan and other key markets and support their net zero ambitions.
Musabbeh Al Kaabi, ADNOC Executive Director, Low Carbon Solutions and International Growth, said: “This latest collaboration with SOCAR underscores the importance of our industry working together to advance low-carbon solutions and accelerate decarbonization. Through this agreement ADNOC and SOCAR will leverage our combined knowledge, experience and expertise to advance promising hydrogen, carbon management and geothermal technologies that could make a tangible difference as the world takes bold steps to decarbonize energy value chains.” The SCA builds on the strategic bilateral energy cooperation between the UAE and Azerbaijan, including the 30% stake held by ADNOC in the Absheron gas and condensate field in the Azerbaijan sector of the Caspian Sea. It also builds on ADNOC’s shareholding in Abu Dhabi Future Energy Company (Masdar). Recently, Masdar inaugurated the 230MW Garadagh Solar Park in Azerbaijan, which is the region’s largest operational solar park. Read More
Lilium N.V. announces the start of production of the Lilium Jet, following the arrival of the first Lilium Jet fuselage at Lilium’s final assembly line. In parallel, Lilium’s world-class tier-one suppliers – most of which have decades of experience in meeting the certification requirements of commercial aviation – are ramping up production of parts and systems for the Lilium Jet. With the start of production, Lilium has hit a watershed moment, shifting from the design phase to industrialization of the Lilium Jet. Today’s milestone is an important turning point for Lilium’s industrial partners and supply chains working to make sustainable regional aviation a reality. In the next step, the fuselage will be matched and joined with the aircraft’s canards and main wings. Production of the Lilium Jet takes place at Lilium’s state-of-the-art facilities in Wessling, Germany. Lilium’s testing & manufacturing center, propulsion & aerostructures facility, final assembly building, and the newly constructed battery assembly building and logistics hub, where aircraft parts are readied for integration on the final assembly line, are all located alongside one another. In total, Lilium’s facilities cover an area of 175,000 square-feet (16,250 sqm). Klaus Roewe, CEO of Lilium, commented: “To see the first aircraft fuselage on the final assembly line ready to join up with the canard and wings is a proud moment for everyone involved in our mission to make aviation sustainable. We firmly believe the Lilium Jet will usher in a new era of sustainable regional mobility, offering the highest safety standards, as well as superior comfort, unit economics, and customer experience.” Read More
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $69.33 | Up |
| Crude Oil (Brent) | USD/bbl | $74.16 | Up |
| Bonny Light | USD/bbl | $74.45 | Down |
| Saharan Blend | USD/bbl | $73.75 | Down |
| Natural Gas | USD/MMBtu | $2.35 | Down |
| OPEC basket 12/12/23 | USD/bbl | $77.06 | Down |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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