Energy/Automotive News 28 September, 2023|WTI Crude stands at $93.72/bbl, Brent at $96.34/bbl
London, 28 September, 2023, (Oilandgaspress): – Sustainable aviation fuel (SAF) is likely to stay more expensive than kerosene even when large-scale production kicks in and the cost won’t deter airlines from their carbon emission targets, International Air Transport Association (IATA) head Willie Walsh reportedly said.
UK Prime Minister, Mr Sunak tweeted: ‘As we make the transition to renewables, we will still need oil and gas – it makes sense to use our own supplies such as Rosebank. This is the right long-term decision for the UK’s energy security.’
Clean hydrogen deployment will be needed to decarbonise hard-to-abate sectors where hydrogen is being used as a feedstock to complete industrial processes (e.g., oil refining, fertilisers, and methanol production) and for nascent uses such as sustainable aviation fuels (SAF), maritime shipping, and greenfield steel.
To go from such targets to real-world deployment, there are many open questions to consider. In order to assess the suitability of different hydrogen transportation methods, CATF has conducted a first-of-a-kind analysis featured in the new report, Techno-Economic Realities of Long-Distance Hydrogen Transport, outlining the cost of importing hydrogen to Europe’s largest seaport, the Port of Rotterdam in the Netherlands, from potential future hydrogen exporters. The modelling, which was conducted by the major engineering firm KBR Inc., includes four different transportation pathways: Read More
As the next step in its mission to become the most diverse luxury car manufacturer in the world, Bentley Motors launches the ‘Belonging Bentayga’. This unique hand painted Alpine Green Bentayga Hybrid features different skylines and well-known buildings from all across the world such as New York, London, Paris, Rome, Milan, Venice, Tokyo and Hong Kong – each side of the car representing a different continent. The art piece that displays 29 different landmarks is drawn from memory by Stephen Wiltshire MBE, a British architectural artist and autistic savant, who is known for his ability to draw a landscape after seeing it just once. This is the first time a Bentley has been hand-painted in this way at the factory in Crewe, developed with a unique process from the Bentley Excellence Centre Bespoke Paint team. The design also includes many drawings of people, nationalities of the world united in one design. The Bentley Bentayga is the third such piece of art unveiled by the company to mark its commitment to diversity. Read More
Ørsted has entered its first solar project in the UK. One Earth Solar Farm is a proposed 740 MW solar farm with associated battery storage, that will primarily be located in Nottinghamshire near the border of Lincolnshire and is being co-developed with PS Renewables.Once operational, the 740 MW solar farm will generate enough clean, renewable electricity to power up to 200,000 homes, making it one of the largest solar farms in the country. Subject to local and stakeholder consultation, which will begin later this month as part of the process for nationally significant infrastructure projects (NSIP), a development consent order (DCO) submission is planned for 2025.
Ørsted is taking a phased ownership in the project with the achievement of key milestones. PS Renewables and Ørsted are targeting a commercial operation date for the One Earth Solar Farm before 2030. The renewable electricity produced by the solar farm has several potential routes to market including contracts for difference and corporate power purchase agreements. The project will contribute to Ørsted’s global ambition of reaching 17.5 GW of onshore capacity by 2030. Ørsted currently has over 5.7 GW of onshore renewables in operation, under construction or consented across the United States and Europe. Solar energy is crucial to diversifying and balancing energy generation and reducing reliance on fossil fuels. The UK government has set a clear target to increase solar capacity by nearly fivefold to 70 GW by 2035 as part of wider plans to power up Britain with cleaner, cheaper and more secure energy sources. Read More
Ørsted has secured two contracts in the Irish Government’s third onshore Renewable Electricity Support Scheme (RESS 3) auction. The approved Ørsted projects were the 81 MW Garreenleen Solar Farm in Carlow, and the 43.2 MW Farranrory Onshore Wind Farm in Tipperary.
Commenting on the provisional results of the RESS 3 auction, Kieran White, Senior Vice President of Onshore in Region Europe at Ørsted, said:
“With a combined output of 124 MW, these projects will assist in driving down the cost of electricity compared to fossil fuel generation and contribute to Ireland’s overall energy independence while meeting our value creation targets. We expect to deliver the projects before 2030 within the RESS 3 timelines.”
A total of 24 onshore wind and solar projects, including Ørsted’s two projects, cleared in the RESS 3 auction at an average strike price of EUR 100.47 per MWh. Read More
QatarEnergy has announced the signing of a long-term naphtha supply agreement with Japan-based Marubeni Corporation, The agreement was signed by QatarEnergy, for and on behalf of Qatar Petroleum for the Sale of Petroleum Products Company Ltd. (QPSPP), and Marubeni Petroleum Co. Ltd, a subsidiary of Marubeni Corporation. The 10-year sale agreement stipulates the supply of up to 1.2 million tons per annum of Naphtha to Marubeni starting from October 2023.
This agreement is based on the successful and long-term relationship enjoyed between both entities and builds on the 5-year Naphtha sales agreement signed in 2018, which expires in September 2023. Read article
The IEA has just released a new free pilot database including life cycle emission factors corresponding to national electricity grids. The pilot assesses and compiles reliable data to provide a global harmonized database, in near future on an annual basis. The database is published in an excel format free of charge and includes the following emission factors:
a) Total upstream emission factors (CO2eq/kWh)
Correspond to the total upstream emissions intensity associated with the national electricity generation. The factors are computed using the overall life cycle footprint of the electricity generation technologies/fuels excluding direct emissions from combustion of the fuels at the generation point weighted by their respective shares in the generation mix.
b) Fuel-cycle emission factors (CO2eq/kWh)
Correspond to the fuel-cycle emissions intensity associated with the national electricity generation. The factors are computed using the life cycle emissions intensity corresponding to fossil fuels, uranium and biofuels fuel-cycles weighted by the respective shares of all fuels/technologies in the generation mix. The non-fuel cycle life cycle emissions and the direct emissions from combustion of the fuels at the generation point are excluded. Read full article
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $93.41 | Up |
| Crude Oil (Brent) | USD/bbl | $96.18 | Up |
| Bonny Light | USD/bbl | $98.41 | Up |
| Saharan Blend | USD/bbl | $97.64 | Up |
| Natural Gas | USD/MMBtu | $2.88 | Up |
| OPEC basket 27/09/23 | USD/bbl | $97.08 | Up |
Oil and Gas News Undiluted !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
Disclaimer: News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Information posted is accurate at the time of posting, but may be superseded by subsequent press releases
Please email us your industry related news for publication info@OilAndGasPress.com
Follow us: @OilAndGasPress on Twitter |
Oil and gas press covers, Energy Monitor, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar, Marine, Aviation, Fuel, Hydrogen, Electric ,EV, Gas,
