Daily Energy/Automotive News; OPEC $82.81/bbl, WTI Crude $78.89/bbl,
London, 14, June 2024, (Oilandgaspress): – TotalEnergies has entered into an agreement to sell its wholly-owned subsidiary TotalEnergies EP (Brunei) B.V. to Hibiscus Petroleum Berhad, a Malaysian independent oil and gas exploration and production company, for a consideration of $259 million. The transaction is expected to close in the fourth quarter 2024.
TotalEnergies EP (Brunei) B.V. owns and operates a 37.5% interest in Block B, alongside Shell Deepwater Borneo (35%) and Brunei Energy Exploration (27.5%).
Block B, located 85 kilometers off the coast of Brunei, contains the Maharaja Lela/Jamalulam (MLJ) field, which started producing in 1999 and represented a net production for TotalEnergies of approximately 9,000 barrels of oil equivalent per day in 2023.
“This transaction fits with our strategy to actively manage our portfolio by monetizing mature assets and to allocate our talents to the most promising assets”, said Jean-Pierre Sbraire, Chief Financial Officer of TotalEnergies. Read More
Stellantis is enhancing the mobility experience of consumer and commercial owners of vehicles from its 14 iconic brands with a steady stream of new connected features. That effort is delivering a boost to high-margin revenue from software and connected services, which has grown by 2.5 times since 2021, as the number of subscribers globally during that same period has increased to 5 million.
Additionally, the monetizable car parc has grown 15% to 13.8 million vehicles, and Stellantis delivered more than 94 million over-the-air (OTA) updates in 2023, adding and improving features in its existing vehicles.
Those achievements set the foundation for the next chapter of software growth at Stellantis, which is using cloud-based design and testing tools, including the groundbreaking Virtual Engineering Workbench, to redefine automotive software development speed, quality and deployment. The software, developed in-house and with a roster of strategic partners, enables next-generation features for upcoming Stellantis brand vehicles and those on the road today.
“In a little more than two years we have made a decisive shift from a traditional auto industry mindset to operating much more like a startup company, including a sharp focus on speed and building up our own software creation capabilities. It gives us critical flexibility and a competitive advantage going forward,” said Yves Bonnefont, Stellantis Chief Software Officer. “Now we take the next step and begin scaling up, which includes the tech readiness for integration of our transformative STLA Brain, STLA SmartCockpit and STLA AutoDrive AI-powered technology platforms.”
Stellantis has built its in-house capabilities to develop its own software, taking advantage of a global footprint of technology development hubs to work 24/7, building and customizing software products for each of the Company’s vehicle platforms. Read More
Vestas has secured a 90 MW order to power an undisclosed wind project in South Korea. The order consists of 21 V136-4.2 MW wind turbines in 4.3 MW. This project will be the largest onshore wind project for Vestas in the country to date.
The order includes supply and supervision of installation of the turbines, as well as a multi-year Active Output Management 5000 (AOM 5000) service agreement, designed to ensure optimised performance of the asset.
Delivery of the turbines will begin in the second quarter of 2025, with commissioning scheduled for 2026. Read More
Vestas has signed a conditional agreement for the supply of turbines for an offshore wind power project in two phases in Northern Europe with a capacity above Vestas’ current disclosure threshold of 1 GW. If and when the agreement translates into firm and unconditional orders, Vestas will disclose these in accordance with the company’s disclosure policy. Read More
Heikki Malinen, a member of the Board of Directors of Neste Corporation, has announced his resignation from the Board of the company as of today. The reason for the resignation is his appointment as Neste’s President and CEO as of 2 November 2024, at the latest. The stock exchange release on the appointment was published on 2 May 2024. After Malinen’s resignation Neste’s Board comprises nine members Read More
Neste has supplied sustainable aviation fuel (SAF) to Emirates for flights departing from Singapore Changi Airport. With this, Emirates becomes the first international visiting carrier using SAF supplied at the airport from Neste’s Singapore refinery. To meet Emirates’ needs, over 2,600 tons (3.3 million liters) of blended SAF have been supplied into the fueling system at Changi Airport over the course of the last few weeks.
The supply of SAF to Emirates at Changi Airport is part of the partnership the two companies announced in October, 2023. Earlier this year, Neste supplied over 6,000 tons of blended SAF to Emirates at Amsterdam Airport Schiphol.
“Emirates’ investment into Neste-produced SAF in Singapore marks the first step forward in our SAF adoption in Asia, a region that is primed to become a leading supplier of SAF, which continues to be in short supply. While the activation of this agreement marks a milestone in our SAF journey in a new region, there’s still a lot of work to do. And as we procure SAF for the short term, we’ve got our sights set on longer-term agreements to help scale up a steady supply of SAF for our operations,” said Adel Al Redha, Deputy President and Chief Operating Officer at Emirates. “We are excited Emirates has started using Neste MY Sustainable Aviation Fuel at Changi Airport as the newest step in our cooperation. It makes Emirates the first international visiting carrier using SAF at the airport produced at our Singapore refinery and supplied into the airport via our integrated supply chain. We are looking forward to continuing to work together on scaling up the supply of SAF for Emirates’ operations,” said Alexander Kueper, Vice President, Renewable Aviation Business at Neste. Read More
Just Stop Oil has delivered letters to the leaders of all major parties running in the upcoming general election, demanding they commit to signing the fossil fuel non-proliferation treaty. Four Just Stop Oil supporters also visited the four biggest parties to hand-deliver the letter,
A Just Stop Oil spokesperson said:
“The UK’s next government in waiting has committed to enacting Just Stop Oil’s original demand of ‘no new oil and gas’ in the upcoming election. This is a major victory for anyone who cares about protecting our communities from the catastrophe being imposed on ordinary people by fossil-fueled elites and corporations.
However, this commitment will not be enough to prevent ongoing collapse, whilst fossil fuel projects are still being built here and around the world. Scientists are clear that the carbon currently in the atmosphere will be enough on its own to make large parts of the world uninhabitable in years to come.
It is clear that continuing to extract and burn fossil fuels in 2024 is nothing short of an act of war against humanity. As such, we are demanding party leaders and the next Prime Minister commit to defending the people they have been elected to serve by working with other nations to establish a legally binding treaty to stop the extraction and burning of oil, gas and coal by 2030.
If the incoming leader does not support this treaty, Just Stop Oil will begin a new campaign of civil resistance, and they are not alone. In an unprecedented coordination across movements, citizen’s from Austria, Canada, Norway, UK, Netherlands and Switzerland have pledged to join in resistance this summer, if their own Governments do not take meaningful action.” This is the start of an International Uprising. And it’s only just getting started. The era of fossil fuels is over. Read More
Motorists are facing a shortage of affordable petrol and diesel vehicles with the number of models under £5,000 dropping, according to analysis.
AutoTrader, the leading marketplace for new and used vehicles in the UK, has revealed data showing a considerable drop in numbers over the past decade.
AutoTrader claims stock volumes of vehicles below £5,000 have also fallen by 75 percent between January 2016 and 2024 with just 24,359 cars available.
Meanwhile, analysis shows that stock volumes for vehicles under £11,000 are also down by almost half (46 percent) over the same period. Read More
World’s 1st dedicated drone force just went live in Ukraine to counter Russia
Ukraine has officially inaugurated its Unmanned Systems Forces (USF), the nation’s first-of-its-kind armed forces branch.
President Volodymyr Zelenskyy originally announced Ukraine’s intentions to create the USF back in February. However, it has now officially “gone live.”
“I have just signed a decree initiating the establishment of a separate branch of our Defense Forces – the Unmanned Systems Forces. This is not a matter of the future but something that should yield a concrete result shortly. This year should be pivotal in many ways,” Zelenskyy said in an official press release. Read More
The Bentley Environmental Foundation today celebrated its first anniversary with the announcement of three new partnerships. The latest group of organisations – Hubbub, Forum for the Future and Renewable World – to join the Foundation takes the total number of partners to ten in just 12 months, further reflecting Bentley’s ongoing ambitions to help preserve and regenerate the planet for future generations.
UK-based charity Hubbub brings businesses, organisations, local authorities and community groups together to create environmental campaigns. Last year, the award-winning charity delivered 49 projects, encouraging over six million people to think differently about environmental issues. A Hubbub poll found 78 per cent of people felt better after spending time in nature, yet more than a third spent less than an hour a week doing so. With support from the Foundation, Hubbub plans to bring people closer to nature by connecting community-led green spaces across the UK, with work starting this summer. Forum for the Future is a leading international non-profit that, for the last 28 years, has been working to accelerate the shift towards a just and regenerative future. Through a series of partnerships with governments, businesses and local groups, Forum has focussed attention on how we produce, consume and think about our food and energy. Read full article
Venice has now kicked off its global call for innovators to put forward solutions that motivate people to increase the use of low- and zero-carbon transport within the city as part of the Toyota Mobility Foundation’s $9 million (€8.35 million) Sustainable Cities Challenge. Venice’s initiative is looking for innovations that will inspire people to consider more sustainable methods of travel.
Made up of the historic city of Venice, as well as the lagoon islands and mainland urban areas such as Mestre and Marghera, the City of Venice is the capital of the Veneto Region. Most of the city’s population lives and works in the mainland suburbs, with Mestre acting as a crucial transportation hub thanks to its roads, rail links, and airport.
Venice has invested resources into infrastructure that support the growth of sustainable mobility in the city, including over 180km of bike lanes, bike-, scooter-, and hybrid car-sharing services which was the first of its kind in Italy. In recent years, the city has invested in making its public transport system more sustainable with 30 new electric buses and plans for 44 more. The city also plans to launch 90 fuel cell buses by 2026 and by 2029, expects more than 32 hybrid waterbuses for its famous canal network.
However, according to a 2023 Audimob report, many people often use familiar transport methods and routes, meaning that these low- and zero-carbon modes of transport are currently underutilized.
As part of the Sustainable Cities Challenge, Venice is welcoming international innovators to develop creative ways to motivate individuals to rethink how they travel around the city and to encourage greater use of these low-and zero-carbon options. The city is looking for ways to better understand the needs of commuters and local communities to create a transport system that not only works for Venice but also helps the city become more sustainable.
In addition to a share of $3 million (€2.78 million) of implementation grant funding, participants in the Challenge will gain exclusive insights into a complex transport system that includes both land and water networks, as well as real-world experience of designing and delivering an effective and impactful behavior change campaign. Entrants will also have the chance to engage directly with city officers and other key stakeholders, including mobility providers, giving them access to potential future partners and influential decision makers. Read full article
In a recent article published by Energy Aspects, HE Haitham Al Ghais, OPEC Secretary General, emphasized that oil is set to play a key role in human lives for years and decades to come. “Peak oil demand is not on the horizon,” he stated.
In reference to the global energy mix, the Secretary General noted that while “OPEC welcomes all the progress made in renewables and EVs, it is nowhere near close enough to replace 80% of the energy mix,” adding, “We should also remember that the development of renewables and EVs requires some oil-related products. Their future expansion will add to oil demand.” The Secretary General also highlighted in the article that “everyone is free to have an opinion, but it is important that this is based on the realities we see before us today,” noting that it is clear that we need to “prioritize energy security, utilize all available energies, deliver energy affordability, enhance sustainability, reduce emissions and not limit our energy options in the face of expanding demand.”
“Oil can deliver on all those fronts,” HE Al Ghais underscored. Read More
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $78.89 | Up |
| Crude Oil (Brent) | USD/bbl | $83.17 | Up |
| Bonny Light | USD/bbl | $82.33 | Up |
| Saharan Blend | USD/bbl | $81.37 | Up |
| Natural Gas | USD/MMBtu | $2.95 | Down |
| Murban Crude | USD/bbl | $82.98 | Up |
| OPEC basket 13/06/24 | USD/bbl | $82.81 | Down |
Vestas has received a firm order for RWE’s 660 MW Nordseecluster A offshore wind project in Germany, ref. Vestas’ Company Announcement 11/2024 of 14 June 2024. The Nordseecluster is being implemented in two phases – Nordseecluster A and B. For the first phase of the project, Vestas will be supplying 44 V236-15.0 MW wind turbines and is responsible for the supply, delivery, and commissioning of the turbines. Upon completion, Vestas will also service the assets under a 5-year service agreement followed by an operational support agreement.
Nordseecluster B will add a further 900 MW of capacity, for which Vestas and RWE currently have a conditional order agreement in place for 60 V236-15.0 MW wind turbines.
“We are pleased to be involved in this pivotal project for Europe’s offshore wind industry which is also a reflection of our commitment to promoting clean energy solutions. Vestas remain dedicated to leading the shift towards a more sustainable future,” says Nils de Baar, President of Vestas Northern & Central Europe. “Our thanks go to RWE for the great collaboration over several years to make this project happen, our entire team is looking forward to delivering the Nordseecluster.”
Thomas Michel, Chief Operating Officer, RWE Offshore Wind says “We are very pleased to enter the execution phase for our Nordseecluster A project – which itself is already a great achievement. Many thanks to all involved. Now all focus is on delivery and we are excited about the future cooperation laying ahead of us.”
The Nordseecluster is located around 50 km north of the island of Juist in the German North Sea. Wind turbine delivery for the Nordseecluster A is expected to take place in 2026. Read full article
Vestas has received a firm and unconditional offshore order to deliver wind turbines for the first phase of RWE’s Nordseecluster project in Germany. Vestas was selected as preferred supplier for the 1.6 GW cluster (first and second phase) in February 2023 (cf. Vestas News Release 28 February 2023), and the conditional contract for the two phases was signed on 17 May 2024 (cf. Vestas Company Announcement 09/2024). Read More
Mercedes-Benz, the car manufacturer has continued to set new standards with innovative technologies. The current development and introduction of automated driving systems is redefining the role of the automobile.
Today, automated driving functions are already increasing comfort and safety. DRIVE PILOT is the first system for series-production vehicles to allow drivers to safely engage in certain secondary activities in slow-moving traffic on freeways – and to do so legally. The system has been on sale in Germany since May 2022 and in the U.S. in the states of California and Nevada in the S-Class and EQS Saloon for just over a year. Experts refer to this as conditionally automated driving according to SAE Level 3.
The main campaign film “Dreamer – a DRIVE PILOT Story” tells the story of a dream and takes us on a journey through time with emotional snapshots. It is enthusiasm that motivates us to pursue our dreams until they become reality.
Viewers accompany the protagonist from his childhood to the present day. The brand with the three-pointed star is his constant companion – whether as a quartet card game in the classroom, toy cars in the nursery or as Silver Arrows in Formula 1 races on television. Over the years, his dream of one day driving a Mercedes-Benz himself grows. The film shows how his dream comes true and what role DRIVE PILOT plays in it.
The song “Dreamer” was released in 1974 and embodies the core message of the campaign film of the same name. Music & lyrics: Roger Hodgson and Richard Davies; publishing: Universal Music Publishing. Read More
Hyundai Motor America and Ann & Robert H. Lurie Children’s Hospital of Chicago hosted its third child safety seat check at this year’s Move for Kids walk and rally for patients, families, and neighbors at Busse Woods Forest Preserve in Elk Grove Village, Illinois. The event is part of their continued collaboration as Hyundai donates an additional $50,000 in support of the hospital’s Buckle Up Child Passenger Safety Program.
“Safety is our top priority for Hyundai, which includes providing safe vehicles as well as proper education of the importance of child seat safety and injury prevention measures,” said Cole Stutz, chief safety officer, Hyundai Motor North America. “Our continued partnership with Lurie Children’s represents our commitment to keeping our youngest passengers and other road users safe.”
At the Move for Kids event, certified Child Passenger Safety Technicians (CPST) inspected car seats for proper fit and installation, expiration dates, and manufacturer recalls. These technicians also provided safety recommendations to parents and caregivers, educating families on the correct use of child safety seats. If needed, some families received free replacement seats.
(left to right) Vanessa Perez, Hyundai Motor America, Ciara Calub, Hyundai Motor America, Justine Vitug, engineer, Hyundai North America Safety Office, Derrick Shannon, Hyundai Motor America, Amy Hill, director of unintentional injury prevention programs, Ann & Robert H. Lurie Children’s Hospital of Chicago, Andrew Lane, Hyundai Motor America, Catalina Zamora, buckle up program coordinator, Ann & Robert H. Lurie Children’s Hospital of Chicago, Kelly Aikens, Hyundai Motor America at Ann & Robert H. Lurie Children’s Hospital of Chicago in Chicago on June 10, 2024. (Photo/Hyundai)
According to the National Highway Traffic Safety Administration, about nearly half of car seats and booster seats are installed incorrectly or improperly used. When installed correctly, research shows that car seats can reduce the risk of fatal injury in a crash by 71 percent for infants and by 54 percent for toddlers. Read More
Subsea7 S.A. announced the award of a sizeable1 contract by Dana Petroleum (E&P) Limited, for the Bittern field development, located approximately 190km east of Aberdeen in the UK Central North Sea, at a water depth of 90 metres.
The contract scope includes project management, engineering, procurement, construction and installation (EPCI) of a 22km 12” water injection pipeline. Subsea7’s scope also includes associated subsea structures and tie-ins at the Triton Floating Production Storage & Offloading (FPSO) vessel and the Bittern field. Project management and engineering work will commence immediately in Aberdeen. The offshore activities are scheduled for Q3 2025.
Steve Wisely, Senior Vice President of UK and Global Inspection, Repair and Maintenance, Subsea7, said: “We are pleased that Dana Petroleum has chosen Subsea7 to provide project management expertise and engineering technical knowledge for this important field development. We look forward to supporting Dana in meeting their project objectives and for the opportunity to play a key role in the safe and successful completion of Bittern.” Read More
U.S. car maker Ford said on Wednesday it plans to cut about 1,600 jobs at its assembly plant in Valencia, Spain.
The company, which employs about 4,700 workers at the factory, told unions it plans to eliminate 600 jobs permanently, while it is open to negotiate the possible rehiring of about 1,000 workers later as it plans to boost output at the plant from 2027, a Ford spokesperson in Spain said.
This is the second job cut plan announced by Ford in two years after the company unveiled a plan to cut 1,100 jobs at the factory located in Almussafes, in the Valencia region, in 2023… Read full article
An EV battery is only no longer suitable to power a vehicle once it has reduced to about 70 to 80 per cent of its original capacity. No-one should ever buy a car – new or used – without checking the details of the warranty, and the same applies for EVs.
EVs tend to have two warranties; one for the car itself and another for the battery.
Most manufacturer battery warranties operate on a performance or capacity threshold: Kia for instance will cover any repairs or replacement if your Kia EV drops below 70 per cent capacity within eight years (or 100,000 miles) from the date of purchase. This is transferable so you benefit from a higher resale value.
Nissan offers eight years, or 100,000 miles, and a threshold of nine out of 12 bars of capacity, while Mercedes offers eight years or 100 to 150,000 miles depending on the model. Avoid manufacturer warranties that only cover the battery in the event of a complete failure, as you’ll still be liable for repairs or replacement if it’s operating at a subpar level.
And always check the fine details of the warranty to ensure it’s fully comprehensive.
The cost of an EV battery will depend on whether you repair or replace. Read more
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