Daily Energy/Automotive News; OPEC $84.50/bbl, WTI Crude $81.35/bbl,

London, 19, June 2024, (Oilandgaspress): – A fire ignited by a drone attack on an oil depot in the southern Russian region of Rostov has gone into its second day with local emergency services still trying to put it out. According to a Reuters report,the drone attack had been carried out by the Security Service of Ukraine. A blaze at an oil depot in the town of Azov in Russia’s southern region of Rostov has been raging for more than 24 hours, local emergency services said on Wednesday.

Several oil storage tanks were engulfed in fire after a drone attack early on Tuesday that a Ukraine intelligence source said was conducted by the Security Service of Ukraine (SBU).

During the period from 13 to 14 June 2024, Eni acquired on the Euronext Milan no. 1,118,000 shares (equal to 0.03% of the share capital), at a weighted average price per share equal to 13.7083 euro, for a total consideration of 15,325,923.81 euro within the second tranche of the treasury shares program approved by the Shareholders’ Meeting on 15 May 2024, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999, for the purpose of paying to the Shareholders an additional remuneration compared to the distribution of dividends. Read more

Renault Group organizes an analyst & investor field trip in Romania dedicated to Dacia on June 17th and 18th, the opportunity for Luca de Meo, CEO of Renault Group, and the Dacia management team led by Denis Le Vot, CEO of Dacia, to present the uniqueness of Dacia’s business model and how the brand is now expanding while continuing to further increase its profitability.. Read More

Saab has today announced that Anna Wijkander, currently Deputy CFO and Head of Corporate Control at Saab, will become the company’s new CFO and a new member of Saab’s Group Management. This follows Saab’s announcement on 4 April 2024 that the current CFO and deputy CEO, Christian Luiga, has decided to leave the company.
Anna has been working at Saab since 2015. Her previous experience includes many years at Ericsson in several managerial finance positions.
“Anna Wijkander has solid experience and the right skillset. I am confident that she will do a great job in supporting our growth journey and continuing to develop our financial function,” says Saab’s President and CEO Micael Johansson.
Anna Wijkander assumes the position as of 9 September 2024. Read More

Vestas has been awarded the Engineering, Procurement, and Construction (EPC) for the second stage of Golden Plains Wind Farm in Australia. The second stage will feature 93 of Vestas’ V162-6.2 MW wind turbines from the EnVentus platform.
Vestas is currently delivering the 756 MW EPC contract for the first stage. The extension will provide an additional 577 MW, generating a total of 1.3 GW, making it Vestas’ largest ever onshore wind farm.
Upon completion of first and second stage, Vestas will also deliver a 30-year service and maintenance agreement (AOM5000), ensuring optimal energy production into the Australian grid.
“Through our best-in-class people, wind turbines and capabilities, Vestas is delighted to build and service this landmark project. As the world’s largest provider of wind energy, we have always been committed to Australia’s sustainable future and we thank TagEnergy, and our subcontractor partners, for joining us in this world-changing mission”, Purvin Patel, President Vestas Asia Pacific.
“The diligence and expertise of Vestas who leveraged world-leading practices developed during the adjacent 756 MW Golden Plains Wind Farm Stage 1, ushered the success of financial close for Stage 2. We look forward to continuing to work with Vestas”, Andrew Riggs, Managing Director TagEnergy.
Delivery of Vestas’ wind turbines second stage of the Golden Plains Wind Farm is expected to begin in the first quarter of 2025, with commissioning to commence in the first quarter of 2026. Read More

Prospex Energy PLC is pleased to note the announcement released by Po Valley Energy Limited confirming that the annulment of the Plan of Areas (which limited the extent of hydrocarbon prospecting, exploration and production in Italy) has not been appealed by the Italian Ministry of Environment and Energy Security.
Po Valley Operations Pty Limited (“PVO”), a wholly owned subsidiary of PVE is the operator of the Selva Malvezzi production concession, which has a 63% working interest, while Prospex has the remaining 37% working interest. Read More

JLR and Chery have signed a Letter of Intent to strengthen CJLR’s product offer for the next era of electrification in China.

The new model of collaboration leverages fully both parties’ complementary strengths – with Chery holding a leading automotive market position in China while JLR has unrivalled heritage and design strength – creating mutually beneficial prospects for the future.

Under the proposed new licensing agreement, the CJLR Joint Venture will pivot to produce an advanced portfolio of electric vehicles based on Chery’s EV architecture, exclusively under the Freelander name.

Marking the beginning of a new strategic phase for CJLR, Freelander will become a brand reborn under license from JLR as part of a new value creation system independent from both Chery’s existing portfolio and JLR’s modern luxury House of Brands. JLR’s Freelander brand was a Land Rover vehicle which was successfully produced between 1997 – 2015. It was succeeded by the Discovery Sport in 2016. In reborn CJLR form, Freelander will offer a range of mainstream electric vehicles, initially sold in China through a distinct network but over time destined for global export.

The vehicles will be designed in collaboration with both Chery and JLR’s Creative teams to create a new positioning in the rapidly growing China mainstream New Energy Vehicle (NEV) market. The products will be built at CJLR’s existing manufacturing facility in Changshu. Read More

Osprey Charging, the UK’s leading and fastest-growing EV rapid charging network, has announced plans for a new ultra-fast 16-charger hub in Paisley – which when completed will be the largest public ultra-rapid charging hub in Scotland. The charge point operator has completed the purchase of a freehold site in Paisley, and planning permission has been granted to install 16 300kW public charge points.

Located by the Phoenix Retail Park in Paisley, the 16-charger hub will be situated just off the A737, a short drive from the M8, Scotland’s busiest motorway. On a key route for Scotland’s drivers, the new Paisley super-hub will provide rapid, reliable and high-quality EV charging in a strategic location.

The Paisley hub will mark the second occasion of Osprey Charging completing the purchase of a freehold site, following the award-winning Salmon’s Leap hub in Devon, which opened last year. Owning the land where the site will be constructed offers significantly enhanced flexibility for its design, ensuring it aligns seamlessly with Osprey’s long-held values of simple, convenient, safe, accessible for all charging. Osprey expects to announce further site acquisitions throughout the summer.

The Paisley hub is ideally situated, with numerous amenities close by that drivers can make use of while recharging their EVs. Located adjacent to the Showcase Cinema and just north of the McDonald’s drive-thru, numerous on-site shops will provide plenty of on-site activity for drivers. Read More

The Supreme Court will on 20th June hand down its ruling in a landmark case about environmental impact assessments and downstream greenhouse gas emissions.

The issue in R (on the application of Finch on behalf of the Weald Action Group) (Appellant) v Surrey County Council and others (Respondents) is whether under Directive 2011/92 EU of the European Parliament and of the Council and the Town and Country Planning (Environmental Impact Assessment) Regulations 2017, it was unlawful for the council not to require the environmental impact assessment for a project of crude oil extraction for commercial purposes to include an assessment of the impacts of downstream greenhouse gas emissions resulting from the eventual use of the refined products of the extracted oil.

The background to the case was that in December 2018, the second respondent, Horse Hill Developments, sought planning permission from Surrey County Council, to retain and expand an existing onshore oil well site (comprising two wells) and to drill for four new wells, enabling the production of hydrocarbons from six wells over a period of 25 years. Read More

Saab, as the first major defence company, has received approval for its 2050 targets for greenhouse gas emission reductions by the Science Based Targets initiative (SBTi).
“I am proud that we have had our long-term emission reduction targets approved by the SBTi. This entails hard work which will require continuous focus and effort over a long time,” says Viktor Wallström, Saab’s head of Group Communication and Sustainability.
Saab joined the UN’s Race to Zero initiative to combat climate change and setting science-based targets in line with the Paris Agreement in 2021. Read More

DNO ASA, the Norwegian oil and gas operator, today announced a gas condensate discovery on the Cuvette prospect in the Norwegian North Sea licenses PL248F and PL248GS in which the Company’s wholly-owned subsidiary DNO Norge AS holds a 20 percent interest.
Preliminary evaluation of the discovery indicates gross recoverable resources in the range of 16-38 million barrels of oil equivalent (MMboe) with a mean of 25 MMboe, well above predrill estimates. Just over half of the resources were encountered in the Middle Jurassic primary target, and the balance in the Upper Jurassic secondary target.
Cuvette is DNO’s eighth discovery in the highly prolific area surrounding the Troll and Gjøa production hubs since 2021. The other discoveries are Røver Nord, Kveikje, Ofelia, Røver Sør, Heisenberg, Carmen and Kyrre, all close to infrastructure and with clear routes towards commercialization.
Wintershall Dea Norge AS operates licenses PL248F and PL248GS as well as the nearby Vega field tied back to Gjøa. Another partner in the licenses, Petoro AS, similarly holds a stake in Vega. One of Vega’s three subsea templates, Vega Central, is located only three kilometers to the north of the new discovery well. The partners will consider fast-track production of Middle Jurassic volumes through the Vega Central template. Another option is a joint development with three nearby discoveries made in 2015-2016 (Syrah, Orion, Beaujolais; totaling some 15 MMboe gross), in which DNO also holds a 20 percent interest. Read full article

China has reduced power generation from fossil fuels as output from sunlight and water surges, feeding hopes that the world’s biggest polluter may have peaked emissions years before its own deadline.

Thermal power, which accounts for the bulk of China’s carbon footprint, fell 4.3 percent in May from the previous year, the biggest drop since 2022, the statistics bureau reported on Monday. Hydroelectric jumped 39 percent after heavy rains fed a recovery in the world’s most powerful dams. Output from large solar farms rose by 29 percent following a record increase in new panels last year. Thermal’s decline has since accelerated, according to the China Coal Transportation and Distribution Association, dropping 13 percent year-on-year in the first half of June. Read full article

UK energy production is at a turning point which could have a decisive impact on the nation’s future economic growth, according to the new Economy & People 2024 report published today by Offshore Energies UK (OEUK).

Government decisions following next month’s election offer the opportunity to focus on a homegrown energy transition which could secure the livelihoods of hundreds of thousands of highly skilled people across the UK, the report shows.

People currently employed in offshore oil and gas, wind and hydrogen energy production or carbon capture projects have highly transferable skills that are crucial to securing the UK’s target of net zero greenhouse gas emissions by 2050. The Economy & People Report 2024 recognises the UK energy sector holds the key to achieving a homegrown net zero economy that will be a blueprint for the world.

Creating new opportunities for people and the economy starts with unlocking investment into projects across the offshore energy sector. OEUK’s manifesto outlines the key steps government can take in partnership with industry to protect jobs and energy security and deliver cleaner and more affordable energy for the UK.

The report also shows that:

With supportive policy, capital investment in homegrown offshore energy i.e. oil and gas, offshore wind, hydrogen and carbon capture and storage technology could increase by over 50% from around £13bn last year to over £20bn in the early 2030s. Collaboration across sectors and with governments is key to success. Read full article

​The leading trade body Offshore Energies UK (OEUK) responds to the launch of the Labour Party’s 2024 General Election manifesto.

OEUK is an apolitical organisation that represents over 400 members across the UK’s energy mix, from oil and gas to wind, hydrogen and carbon capture technologies.

OEUK’s own industry manifesto is calling for all parties to choose a homegrown energy transition that safeguards jobs, boosts energy security and drives economic growth.

David Whitehouse, CEO Offshore Energies UK comments:

“Wealth creation is at the core of the Labour party’s manifesto and we believe the fastest path to that economic growth is by choosing a homegrown energy transition.

“While we share Labour’s ambition to make the UK a green energy superpower, the path to success is building on our existing industrial strengths and our 200,000 skilled people.

“An affordable net zero needs both renewables and our homegrown oil and gas sector. Ramping up more carbon intensive imports from abroad will not bring down energy bills for consumers or attract the investment and skills we need to decarbonise our economy. Read More

SUSTAINera, Stellantis’ business focused on Circular Economy initiatives, is making considerable progresses on its efforts to revamp consumption model and grow its presence in recycling, expanding participation (share) in material sourcing while limiting impact on natural resources. Valorauto, the vehicle end-of-life solution
Since January 2024, Stellantis has been offering customers individuals and dealers in France, Belgium, and Luxembourg an end-of-life vehicle management service through the Valorauto platform. Whatever the brand and type of engine (combustion, hybrid or electric), it offers a comprehensive service, with collection free of charge and a financial return opportunity for the users.

Valorauto is the service provider belonging to the joint venture SUSTAINera Valorauto SAS between Stellantis and Galloo – a major player in automotive recycling. This joint venture works with selected Authorized Treatment Facilities, enabling the collection of the vehicle, its dismantling, and the recovery of parts to be re-used or to be remanufactured (including electric vehicles batteries or repurposing them in second life projects as energy storage). What remains can be recycled.

This is in line with the Company’s Circular Economy objectives to extend the lifespan of products and, when no longer possible, return the material back into the production loop to reduce waste and the environmental impact of new raw material demand, while creating economic value and being compliant with the European Regulation of Extended Producer Responsibility for vehicles.

More specifically, to be compliant with the French Circular Economy Law (Loi AGEC), Stellantis has developed its own Individual System to manage all Stellantis’ End of Life Vehicles, ensuring quality of the process from eco-design of vehicles to their end-of-life treatment, with the aim of participating in the development of the Stellantis circular economy.

The intention is to develop Individual Systems in other countries whenever it is possible, in accordance with the regulation requirements while expanding the Valorauto services across the main countries in Europe. Read More

Lancia is making its return to Europe, starting in Belgium, Luxembourg, and the Netherlands. Our 10-year strategic plan has a very clear aim: to make Lancia a desirable, respected, and credible brand in the European premium segment. With the opening of all five of the first showrooms in the Netherlands, Lancia is taking another major step in its plan to return to Europe. The enthusiasm with which the brand has been received in the country is an excellent starting point, especially in light of the number of contracts already signed. From now on, Dutch customers can test drive the new Lancia Ypsilon at the brand’s new showrooms, and we have already planned to open a new dealership next year. Lancia is back in the Netherlands with a strong distribution network supported by a dedicated team of salespeople!” stated Luca Napolitano, Lancia CEO.

Lancia’s return to the Netherlands began with the launch of the brand’s new showrooms, in strategic locations close to Amsterdam, Rotterdam, The Hague, Utrecht, and Zwolle. The opening of the new sales spaces was greeted with great enthusiasm by many Lancia enthusiasts and potential customers.
The Lancia dealers in the Netherlands have been carefully selected, based on a lowest common denominator that marks the brand’s renaissance: uncompromising quality. The new showrooms offer customers a premium experience, both online and offline, with a new Corporate Identity, new materials and colors, and renewed attention to detail, all inspired by Italian design and architecture: customers will find a premium, welcoming atmosphere waiting for them, also ensured by a team of trained and dedicated salespeople. Read More

Tata Motors announces price increase of its commercial vehicles from July 2024

Tata Motors announced that it will increase the price of its commercial vehicles effective 1st July 2024, up to 2%. The price increase is to offset the impact of rising commodity prices. It will be applicable across the entire range of commercial vehicles, and will vary as per individual model and variant. Read More

The smart glamping-mobile suitable for everyday use: the new Mercedes-Benz V-Class Marco Polo is ready for you. Smart, stylish and suitable for everyday use – this is the new V-Class Marco Polo from Mercedes‑Benz. It has been available to order since January, as of now it is on display in dealer showrooms. Time for us to publish all relevant information on the new V-Class Marco Polo.

The new V-Class Marco Polo
In the “documents” section you find all you need to know about the camper from Mercedes‑Benz, among others:

Its 40-year success story, which began in 1984 with the first Marco Polo based on the T1 van and in its current version is based on the V-Class MPV.
The current dimensional and design concept, which makes the V-Class Marco Polo a glamping-mobile suitable for everyday use. Read More

Oil and Gas BlendsUnitsOil Price US$/bblChange
Crude Oil (WTI)USD/bbl$81.35Up
Crude Oil (Brent)USD/bbl$85.18Up
Bonny LightUSD/bbl$85.02Up
Saharan BlendUSD/bbl$84.31Up
Natural GasUSD/MMBtu$2.91Up
Murban CrudeUSD/bbl$84.50Up
OPEC basket 18/06/24USD/bbl$84.50Up
At press time 19 June 2024

Mercedes-Benz is now introducing the intelligent further development for partially automated driving in Europe: The Automatic Lane Change function1 is now available in the Driving Assistance Plus Package for 33 European countries[2]. A total of 15 Mercedes-Benz C-Class, E-Class, S-Class, GLC, CLE, EQE, EQS, EQS SUV and EQE SUV models can now be equipped with ALC – directly ex factory and/or via an over-the-air update.

In parallel to the corresponding new car configuration, Mercedes‑Benz is also offering the Automatic Lane Change function for around 200,000 cars already delivered in Europe. The new assistance function can be installed in stages from September 2024 via an over-the-air (OTA) update, i.e. via the car’s mobile phone connection. All models in the current E‑Class model series (214) as well as the CLE Coupé and Cabriolet can be updated in this way. This is also possible for the C‑Class and S‑Class as well as the GLC, EQE and EQS (both as Saloon and SUV) from modification year 23/1 onwards. Customers will be notified of availability in their region. The update can then be initiated via the update assistant on the display of the MBUX infotainment system or via the Mercedes me App.[3]

The ALC function extends the more than 40 driving assistance systems already available from Mercedes‑Benz. ALC enables the car to automatically initiate a lane change on suitable motorways when Active Distance Assist DISTRONIC is activated, in order to overtake slower cars or follow the route to the next exit. Mercedes‑Benz already introduced this function in North America in 2023. In China, too, there is a version of the ALC for local customers, developed by Mercedes‑Benz China. The market-specific versions are adapted to the regional traffic conditions and the respective legal requirements; therefore, they differ in certain details… Read full article

Solitude circuit near Stuttgart are still very much alive. The Solitude Revival, which takes place every two years, especially contributes to this. On 22 and 23 June 2024, it will bring the atmosphere of the great races of yesteryear to the challenging 11.4-kilometre course. This year, Mercedes-Benz Classic will be presenting vehicles from the brand’s 130-year motorsport history in a display area near the historic starting and finishing tower. Two of them will take to the track.

One of the sensations is the Mercedes 2-litre Targa Florio racing car from 1924, which has been roadworthy again since April 2024. In mid-May 2024, Mercedes-AMG Formula One racing driver George Russell was the first to drive this restored racing legend in a motorsport environment, on the Emilia Romagna Grand Prix circuit in Italy. Prior to this, the Mercedes-Benz Classic Center subjected the 100 year-old original racing car to a comprehensive factory restoration. Christian Werner took first place in the Targa Florio in Sicily with this racing car model on 27 April 1924. A few weeks later, Werner presented the winning car from Sicily with a lap of honour at the 1924 Solitude Hill Climb Grand Prix on 18 May 1924. In this race, Otto Merz won the last hill climb at the Solitude in the racing car class with a supercharged 2-litre racing car identical to that used in the Indianapolis 500 in May 1923. He achieved the best time of the day of 3:28.8 minutes and set a new track record. In the following year, Merz repeated his success at the premiere of “Rund um die Solitude” in a Mercedes 2-litre Targa Florio racing car and once again set the track record. Merz, born in 1889, celebrated successes for Mercedes and Mercedes-Benz as a works racing driver, especially after the First World War. One of his triumphs was the victory on 17 July 1927 in the German Grand Prix for sports cars at the Nürburgring, which had opened a few weeks earlier, with a Mercedes-Benz Type S (W 06). In 1933, Merz had a fatal accident during training for the International AVUS Race in Berlin. Read more

Qualcomm Technologies, Inc. is supporting elite women’s motorsport by becoming senior partner of the Mercedes-AMG F1 Academy entry, featuring the Snapdragon® brand. The relationship builds on the existing connection that Qualcomm Technologies enjoys as Official Partner of the Mercedes-AMG PETRONAS F1 Team which also features its Snapdragon brand.

Snapdragon processors can be found in more than 3 billion devices globally, powering premium products from famous brands across smartphones, next-generation PCs, extended reality glasses, gaming devices, wearables, and connected cars. The support of the team’s F1 Academy programme will highlight in particular Snapdragon X Elite processors which power the next-generation PCs.

The newly expanded sponsorship will see the Snapdragon brand feature proudly on the team’s F1 Academy car, overalls, and helmet of driver Doriane Pin, starting at the F1 Academy race at the Spanish Grand Prix in Barcelona that takes place this weekend (21-23 June). Read full article

Baker Hughes Rig Count: U.S. -4 to 590 Canada +17 to 160
U.S. Rig Count is down 4 from last week to 590 with oil rigs down 4 to 488, gas rigs unchanged at 98 and miscellaneous rigs unchanged at 4.
Canada Rig Count is up 17 from last week to 160, with oil rigs up 15 to 104, and gas rigs up 1 to 55 and miscellaneous rigs up 1 to 1.
International Rig Count is down 25 rigs from last month to 953 with land rigs down 3 to 740, offshore rigs down 22 to 213. International Rig Count is down 12 rigs from last year’s count of 965, with land rigs up 11, offshore rigs down 23.
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.

RegionPeriodRig CountChange
U.S.A14 June 2024590-4
Canada14 June 2024160+17
InternationalMay 2024953.-25
Baker Hughes


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