Energy / Automotive News As Reported
London, March 10, (Oilandgaspress) Brent Crude stood at $81.00/bl, WTI Crude stood at $75.01/bl
Siemens Energy has been awarded long term service contracts for several powerplants, from the Ministry of Electricity of the republic of Iraq, to improve energy stability and availability, as well as provide training, skills, and employment opportunities for Iraqis. These contracts represent the first portion of prioritized projects under the Iraq Energy Agenda – Wave II agreement, which was signed in Berlin in January 2023 between Siemens Energy and the Ministry of Electricityof the republic of Iraq. Read More
Boeing and Shield AI have signed a memorandum of understanding to explore strategic collaboration in the areas of autonomous capabilities and artificial intelligence on current and future defense programs. The agreement, signed at the Air Force Association Warfare Symposium, will be managed by Boeing Phantom Works. Read More
Africa Oil Corp. announce that an independent review of the Company’s prospective resources has been completed by RISC Advisory (UK) Limited (“RISC”), in accordance with Canadian National Instrument 51-101 – Standards for Oil and Gas Activities (“NI 51-101”), the Canadian Oil and Gas Evaluation Handbook (“COGE Handbook”) and the Petroleum Resources Management System 2018 (“PRMS”). The effective date of RISC’s report is March 7, 2023.
Highlights
- RISC has reviewed the prospective resources and probability of geological success of an inventory of exploration prospects within Block 3B/4B and have reported total unrisked gross P50 prospective resources of approximately 4 billion barrels of oil equivalent (“boe”). Probability of success ranges from 11% to 39% over the 24 prospects identified.
- The prospect inventory evaluated by RISC has been identified following completion of the reprocessing of 2,200 km2 of 3D seismic data and knowledge of the regional geology of play-opening discoveries in the Orange Basin, offshore Namibia, including TotalEnergies’ Venus discovery and Shell’s Graff, La Rona, and Jonker discoveries.
- Africa Oil is the operator of Block 3B/4B with a 20% participating interest,
– The Company and its partners are progressing plans to conduct a two-well campaign on Block 3B/4B and are in discussions with various potential partners to farm out up to a 55% gross working interest in the Block. Read More
Bayou Bend CCS LLC (“Bayou Bend”), a carbon capture and sequestration project located along the Texas Gulf Coast, announced today an expansion of its carbon dioxide (“CO2”) storage footprint through the acquisition of nearly 100,000 acres onshore in Chambers and Jefferson Counties, Texas. The increased acreage positions Bayou Bend to be one of the largest carbon storage projects in the United States.
Combined with the previously announced approximately 40,000 acres offshore Beaumont and Port Arthur, Texas, the expanded Bayou Bend project now encompasses nearly 140,000 acres of pore space for permanent CO2 sequestration. The total acreage holds a gross storage capacity of more than one billion metric tons, positioning Bayou Bend to be a leading carbon transportation and storage solution for industrial emitters located in the Houston Ship Channel and Beaumont / Port Arthur region, one of the largest industrial corridors in the country. Bayou Bend is a joint venture between Chevron U.S.A. Inc. (“Chevron”), through its Chevron New Energies division, Talos Energy Inc. (NYSE: TALO) (“Talos”), through its Talos Low Carbon Solutions division, and Carbonvert, Inc. (“Carbonvert”). Equity interests in Bayou Bend remain 50 percent Chevron, 25 percent Talos and 25 percent Carbonvert. Effective March 1, 2023, Chevron became the operator of the LLC. Read More
Cepsa announced 2022 Clean CCS EBITDA was €2,939m versus €1,815m in 2021, an increase of 62% driven by improved market conditions, higher underlying commodity prices, increased refining margins and optimization initiatives that continued to contribute to improved performance in all businesses and functional areas
Cepsa also announced plans to develop the Andalusian Green Hydrogen Valley, the largest green hydrogen hub in Europe, and an agreement with the Port of Rotterdam to create the first green hydrogen corridor between southern and northern Europe. In September, Cepsa started to produce second-generation biofuels with used cooking oils and other waste at its industrial facilities in Palos de la Frontera (Huelva), an important step in the Company’s transformation toward a more sustainable energy model and its ambition for annual biofuels production 2.5 million tons in Spain and Portugal. Cepsa hired 850 new employees in 2022 to drive its Positive Motion strategy and tripled the incorporation of women versus 2021, putting the Company on track to meet its goal for at least 30% of leadership positions to be held by women in 2025. Over the course of the decade, it plans to create 10,000 direct and indirect jobs in Andalusia alone. Read More
QatarEnergy and Chevron Phillips Chemical Company (CPChem) marked the ground breaking of the Golden Triangle Polymers Plant in Orange County, in the U.S. State of Texas, marking the beginning of construction of the $8.5 billion world-scale petrochemical facility.
The landmark event was attended by Senior QatarEnergy Executives as well as Mr. Bruce Chinn, the President and CEO of Chevron Phillips Chemical, Mr. Mark Lashier, the President and CEO of Phillips 66, in addition to a number of local elected and appointed officials.
Delivering remarks on behalf of His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, Mr. Ahmad Saeed Al-Amoodi, QatarEnergy’s Executive Vice President, Surface Development & Sustainability said: “For over two decades, we have worked hand in hand with Chevron Phillips Chemical to satisfy the growing demand for innovative petrochemical products, which not only constitute a significant portion of our daily lives, but also play a role in shaping how we live. In this partnership, we are also working together to enable balanced growth and to facilitate human development in a responsible and sustainable manner.”
Highlighting the local impact of the new facility, Mr. Al-Amoodi said: “The Orange community is a direct beneficiary of this strategic partnership. We are investing $8.5 billion to build this world-scale facility, which is QatarEnergy’s second largest investment in the U.S. after the more than $11 billion investment in the Golden Pass LNG production and export facility, which is currently under construction about 35 miles from here in Sabine Pass, Texas. This plant will also be, by far, the most significant economic investment in the Orange community in decades, creating jobs and supporting economic growth.”
Mr. Al-Amoodi concluded his remarks by thanking the local community, CPChem, the local and federal bodies and agencies, and all the stakeholders in the city of Orange who have made this project a reality, and to all the contractors who will build the projects.
Located about 180 kilometers east of Houston, the plant will include an ethylene cracker unit with a capacity of 2.08 million tons per annum, making it the largest in the world, and two high-density polyethylene units with a combined capacity of 2 million tons per annum, also making them the largest derivatives units of their kind in the world. The plant is expected to startup in 2026 and will be owned by Golden Triangle Polymers Company LLC, a joint venture in which QatarEnergy holds a 49% equity interest with 51% held by CPChem. Read More
GE announced a new order for its first High-Efficiency (HE) upgrade for the GT26 fleet to be selected in Australia. In 2024, GE will modernize EnergyAustralia’s Tallawarra A power plant, powered by a GT26 gas turbine installed nearly thirteen years ago, with the HE upgrade, a proven solution that was first introduced for the GT26 gas turbine in 2019. This solution aims to provide the Tallawarra A power plant, located in Yallah on the western shore of Lake Illawarra in the state of New South Wales (NSW), with a leap forward in efficiency and output, supporting the expected energy demand following the closure of the coal fired 1,680-megawatt Liddell plant in the Hunter Valley region. Read More
GE announced plans to invest more than $450 million in its existing U.S. manufacturing facilities this year, purchasing cutting-edge equipment and making upgrades to position the company and its U.S. workforce for a strong future in advance of the company’s planned creation of two independent, industry-leading companies in energy and aerospace.
GE Aerospace Investments GE Aerospace expects to invest more than $335 million across its U.S. facilities this year. Currently, Aerospace has more than 800 external job postings open in sites across the country.This year’s investments will provide additional support for assembly improvements, capacity expansion and maintenance, and enhanced safety infrastructure upgrades. GE Aerospace’s investment in U.S. manufacturing will also positively impact productivity and quality for its sites. Read More
Nissan Motor Co., Ltd. announced senior management appointments as it continues to strengthen its leadership team to support the accelerated progress of the long-term vision, Nissan Ambition 2030. Since launching its transformation plan, Nissan has placed a strong focus on building a culture of empowerment and enablement to allow its people to perform their best.
The following senior management changes will be effective April 01, 2023.
Allyson Witherspoon, currently region vice president, Marketing and Customer Experience for the U.S., is appointed as corporate vice president (CVP), Global Marketing, Brand and Merchandizing. Witherspoon will report to Asako Hoshino, executive vice president (EVP).
Ponz Pandikuthira, currently VP, Global Marketing, is appointed as region senior vice president, Chief Planning Officer for Americas. Pandikuthira will report to Jeremie Papin, senior vice president (SVP), chairperson of Americas Management Committee. Read More
Martina Flöel, a member of the Board of Directors of Neste Corporation, has announced that she will not be available for re-election in the Annual General Meeting (AGM) to be held on 28 March 2023. The reason for this is a potential conflict of interest relating to Flöel’s other engagements which has arisen after the proposal by Neste’s Shareholders’ Nomination Board.
The Nomination Board had, according to the stock exchange release published on 27 January 2023, proposed Flöel to be re-elected as a member of the Board and that the Board shall have ten members. The Nomination Board has after Flöel’s announcement decided to keep its proposal valid in all other respects. This means that according to the proposal of the Nomination Board, the Board shall have nine members instead of ten. Read More
Neste Corporation issues a EUR 500 million green bond with 6-year maturity and a EUR 500 million green bond with 10-year maturity under its EMTN (Euro Medium Term Note) programme established on 6 March 2023, and will pay a fixed coupon of 3.875 per cent and 4.250 per cent, respectively. Neste Corporation will apply for the listing of the bonds on Euronext Dublin.
The proceeds from the issues will be applied for Eligible Projects and Assets as set out in Neste Corporation’s Green Finance Framework. BNP Paribas, Citigroup Global Markets Limited, Danske Bank A/S, ING Bank N.V. and Nordea Bank Abp acted as joint lead managers for the transaction. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $75.31 | Down |
| Crude Oil (Brent) | USD/bbl | $81.28 | Down |
| Bonny Light | USD/bbl | $83.40 | Up |
| Saharan Blend | USD/bbl | $83.35 | Down |
| Natural Gas | USD/MMBtu | $2.53 | Down |
| OPEC basket 09/03/23 | USD/bbl | $82.05 | Down |
TOYOTA GAZOO Racing World Rally Team will take on new challenges with its GR YARIS Rally1 HYBRID contender when Rally México makes a much-anticipated return for round three of the 2023 FIA World Rally Championship season.This will be the championship’s first visit to Mexico and to the American continent since 2020. As well as being the first gravel round of the season, with ambient temperatures as high as 30°C providing a stark contrast to the winter conditions of Rallye Monte-Carlo and Rally Sweden, the event is set to provide a major new test for the latest generation of Rally1 cars that were introduced last year. Read More
Toyota Mobility Foundation (TMF) has selected five teams to work on activities in the first half of 2023 in the “Fun & Safety―Safely Experience Peak Excitement” category of its Make a Move Project, an idea contest aiming to realize the practical implementation of ideas and solutions in society.Under the concept of “The stage is a racetrack. The possibilities are endless. The pursuit of fun is connected to the pursuit of safety,” this contest, which started in 2022, publicly seeks ideas and solutions that draw on motorsports know-how to further traffic safety and regional revitalization. The Ebisu Circuit (Nihonmatsu, Fukushima Prefecture), which has long been helping a wide range of drivers improve their skills, was selected at the test site. A total of 74 organizations and individuals submitted ideas and solutions to the contest. These were evaluated from the perspective of innovativeness and sustainability, with external experts also contributing opinions. The result saw 16 teams passing the document screening stage and being invited to refine their ideas at the Ebisu Circuit. Read More
The U.S. Department of Energy (DOE) and U.S. Environmental Protection Agency (EPA) today signed a Joint Memorandum of Understanding (MOU) to guide new clean energy opportunities that will support access to reliable, affordable electricity and advance the United States toward the Biden-Harris Administration’s goal of a net-zero economy by 2050. With the power sector facing rising challenges to reliability—from the increasing frequency of extreme weather events to higher energy demand—this agreement provides a framework for both agencies to unlock the reliability advantages of the growing clean energy economy.
“The clean energy transition is an amazing opportunity to add a diverse range of energy sources to our power systems, making them more resilient and reliable,” said U.S. Secretary of Energy Jennifer M. Granholm. “I am proud that DOE and EPA are partnering together with industry and communities to help equip the grid to deliver affordable, clean electricity to all Americans.” Read More
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Baker Hughes Rig Count
U.S. Rig Count is 749 with oil rigs 592, gas rigs 154 and miscellaneous rigs 3.
Canada Rig Count is 246, with oil rigs 158, gas rigs 88.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 03 March 2023 | 749 | -4 |
| Canada | 03 March 2023 | 246 | +2 |
| International | February 2023 | 915 | +1 |
Audi of America partnered with Forbes and New York University’s Tandon School of Engineering to sponsor the sixth Forbes Idea Incubator, a one-day virtual event designed to support science, technology, engineering and mathematics (STEM) education for collegiate women.
This year, students from the NYU Tandon School of Engineering were challenged to think critically and help design an inclusive, safe and accessible EV charging experience.
During the Forbes Idea Incubator Audi also presented the Audi Drive Progress Grant, a $50,000 fund providing financial assistance for student tuition and related expenses to the winning teams. Since the inception of the program, Audi has donated more than $300,000 to students at the NYU Tandon School of Engineering.
“The Audi Drive Progress Grant is about recognizing and uplifting young female innovators who are the future,” said Chris Michelbacher, Charging & Energy Lead at Audi of America. “It was inspiring to see these students come up with solutions to one of today’s emerging and pressing challenges, and we’re proud of our partnership with NYU Tandon and Forbes to support women in STEM.”
Audi of America is committed to an inclusive and equitable workplace and promoting diverse perspectives as we shape the future of automotive. Read More
Hyundai Motor America is set to compete in the ADAC TotalEnergies 24 Hour Race at Germany’s Nürburgring circuit on May 20-21, 2023. Hyundai Motor America alongside Hyundai Motorsport GmbH will partner with Target Competition to field a single Elantra N TCR entry piloted by a veteran lineup of Hyundai drivers from Bryan Herta Autosport (BHA).
The driver lineup will feature the reigning IMSA Michelin Pilot Challenge (IMPC) Championship pairing of Taylor Hagler and Michael Lewis alongside Mason Filippi and Harry Gottsacker. Behind the wheel of the Hyundai Elantra N TCR, the BHA drivers bring Team USA representation to the Nürburgring 24 Hours scene and will engage in a head-to-head battle against their European TCR field counterparts. The 2023 debut for Hyundai Motor America comes after the manufacturer initially intended to enter in the Nürburgring 24 Hours in 2020 prior to the Coronavirus pandemic.
To be eligible to compete, all four Hyundai BHA drivers are required to participate in informative classes, Nürburgring Endurance Series (NLS) races and a specific qualifying race ahead of their entry into the ADAC TotalEnergies 24 Hour event. Within the required NLS races, all four drivers will pilot a Hyundai i30 N streetcar featuring only slightly modified safety equipment in co-driver pairings of Hagler and Lewis then Gottsacker and Filippi. Given the eligibility requirements, the drivers will be taking six trips to Germany leading up to the start of the Nürburgring 24 Hours weekend. BHA’s drivers will be making a quick transition from their regular duties in the IMSA Michelin Pilot Challenge events to travel to Germany for their upcoming NLS races. Immediately after the checkered flag waves at Sebring International Raceway, drivers will depart to ensure their timely participation in their first NLS race. Read More
Meet Navin Chandra, the 89-year-old man who embraces sustainability to combat the water and electricity crisis in his society.
After a successful cooperation start in Asia, both technology companies have signed a Memorandum of Understanding to intensify cooperation in the production of metallic bipolar plates for fuel cells and electrolysers in Europe.
The market for fuel cell and electrolyser applications in Europe is developing very dynamically and offers high potential. In order to produce metallic bipolar plates – the core of a fuel cell – economically and on an industrial scale, the forming and further process needs to meet highest requirements in terms of tightness, precision and repeatability. With the FEINforming forming process developed by Feintool and SITEC’s efficient laser welding process FLEX Welding, the companies also want to take off in Europe. Together, high-precision individual plates are joined to form bipolar plates on appropriate systems and with the support of an integrated process consisting of FEINforming, FLEX Welding and FLEX Inspection.
Thanks to the partnership, both companies are able to supply customers with the highest quality and most competitive high-volume bipolar plates. The cooperation ranges from engineering to marketing and sales to procurement, prototyping and quality management. In the course of the cooperation, the two companies will also continuously develop the manufacturing processes and add further complementary processes, such as coating. Read More
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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