Energy / Automotive News |OPEC basket of thirteen crudes stood at $95.31/bbl
London, 5 October, 2023, (Oilandgaspress): – OPEC+ ministerial panel made no changes to the group’s oil output policy, and Saudi Arabia said it would continue with a voluntary cut of 1 million barrels per day (bpd) until the end of 2023, while Russia would keep a 300,000 bpd voluntary export curb until the end of December.——————————————————————————–
Ryder System, Inc. celebrates three female leaders as recipients of the 2023 Women in Supply Chain awards from Supply & Demand Chain Executive and Food Logistics magazines. The 4th annual award honors female supply chain leaders whose accomplishments, mentorship, and examples set a foundation for women in all levels of a company’s supply chain network. (Photo: Business Wire) This year’s honorees from Ryder are: Cherie Brinkerhoff, vice president of supply chain solutions, for championing a new workforce development initiative within the retail, technology, and healthcare vertical at Ryder. Read More
Ryder Recognized for Leadership in Environmental Performance by U.S. EPA SmartWay®
Company Ranked as “High Performer,” Among Top 2% of All SmartWay Truck Carriers Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, has been honored with a SmartWay® “High Performer” recognition in the “All Metrics” and “Carbon Metrics” categories from the U.S. Environmental Protection Agency (EPA). The SmartWay “High Performer” recognition in “All Metrics” category is reserved for the top 2% of all SmartWay truck carriers that focus on reducing carbon, particulate matter, or nitrogen oxide for every mile traveled and for every ton of freight moved. For the “Carbon Metrics” category, Ryder ranks within the top 10% of all “High Performers” for consuming less fuel for every mile traveled and for every ton of freight moved Read More
Top global automakers on Tuesday reported a rise in U.S. new vehicle sales for the third quarter, buoyed by resilient demand for latest models and improved supplies.
General Motors (GM.N) extended a strong year as it posted an about 21% rise in U.S. sales to 674,336 vehicles, benefiting from demand for its pickup trucks, affordable crossover SUVs and electric vehicles. EV sales jumped 28% in the third quarter from the preceding quarter, the company said.(Reuters) Read More
LG Energy Solution is launching a new residential energy storage system, LG Energy Solution enblock E, in Germany in November. LG Energy Solution enblock is a new residential storage system brand which stands for “energy” plus “block” and signifies a space containing energy. After making its debut in Germany, the LG Energy Solution enblock E will become available in Italy, the United Kingdom and elsewhere in Europe. As LG Energy Solution’s first lithium iron phosphate (LFP) residential ESS, LG Energy Solution enblock E offers a remarkable 40 percent improvement in energy density over existing LFP alternatives. This advanced LFP batteries set new standards for performance and quality. LG Energy Solution can mass-produce high quality LFP batteries thanks to its outstanding design capabilities, precise manufacturing processes and stringent quality control standards. These entail rigorous management of cathode material capacity and moisture standards, as well as a vision inspection of each and every battery. Using a patented lamination and stacking process, the company carefully layers its cathodes, separators, anodes before binding them within a single battery cell. This product’s advanced state-of-charge algorithm can provide accurate status of the battery with less than five percent deviation, while common LFP batteries in the market’s deviation is known to be around 10 percent. The LG Energy Solution enblock E comprises a set of 28.5-kilogram battery packs and a 6-kilogram battery protection unit (BPU). It’s easy to expand when users’ energy storage needs increase and is available in two configurations: a 12.4 kWh version consisting of four battery packs and a BPU, and a 15.5 kWh version with five battery packs and a BPU. This product also features IP55 rating suitable for indoor and outdoor applications and 10 years as standard warranty. Read More
Trans Mountain received a ruling from the Canada Energy Regulator (CER) on September 25, 2023, that approved our proposed deviation to pipeline routing within the previously agreed to right-of-way on Stk’emlúpsemc te Secwépemc (SSN) lands near Pipsell (Jacko Lake), BC. Trans Mountain appreciates the timely response from the CER. Trans Mountain is committed to meaningful engagement and effective relationships with Indigenous communities all along the pipeline expansion corridor. We recognize the Pipsell area is of sacred importance to SSN and are committed to remaining respectful of the spiritual and cultural significance of this land. We greatly value our partnership with SSN. Read More
Total system nominations for the Trans Mountain Pipeline system are apportioned by 23 percent for October 2023. The pipeline will be running full at its maximum capacity. What is pipeline ‘apportionment’ and why is it important?
The energy sector around the world works on a monthly cycle. The Trans Mountain Pipeline is part of that cycle. Apportionment describes the amount of demand shippers place on the pipeline in excess of its available capacity. Here’s a step-by-step guide to the apportionment determination that’s carried out every month for the existing Trans Mountain Pipeline system.
Each month our shippers submit requests for how much petroleum (crude oil and refined products) they want to ship through the pipeline to service their customers. These requests are called ‘nominations’.
Based on shippers’ nominations, we then determine the ‘capacity’ available on the pipeline for the month. Determining pipeline capacity is complex. Capacity is affected by, among other things, the types of products that have been nominated, any pipeline system maintenance activities that will reduce flows that month and carry-over volumes that haven’t completed their transit of the pipeline by month’s end. Based on available pipeline capacity and the volume of shipper nominations we received, we calculate apportionment using a method accepted by the Canada Energy Regulator and forming part of our tariff. A tariff includes the terms and conditions under which the service of a pipeline is offered or provided, including the tolls, the rules and regulations, and the practices relating to specific services.
If shipper nominations are less than pipeline capacity, the apportionment percentage to that destination is “zero” and all the product volumes nominated by shippers are accepted to be transported that month. If shipper nominations exceed pipeline capacity, the apportionment is a percentage greater than zero. Read full article
More than 30,000 drivers have had their say on which of Britain’s 120 motorway service stations are best and worst – and it’s the nation’s newest site that has taken the top honour for a second year running. Moto Rugby services on the M6 – which only opened in 2021 – held onto its crown as the best motorway station in an annual independent poll carried out by watchdog, Transport Focus. The Warwickshire services received a 100 per cent satisfaction score. It boasts 458 car parking spaces, seven food outlets, 24 ultra-rapid charging points for electric vehicles, two children’s play areas and even a dedicated dog waking area. Read full article
Responding to the UK Prime Minister’s announcement on HS2 and transport across the North and Midlands, Transport Focus chief executive Anthony Smith, said: “Without HS2 going to Manchester, passengers will want to know how demand will be dealt with on the West Coast main line and elsewhere. Commuting and business travel patterns have changed, but passenger numbers continue to recover strongly, and leisure travel is booming.
“Passengers tell us their top priority for improvement is a more punctual and reliable, value for money railway. Transport Focus will be seeking assurance on behalf of passengers that the planned improved reliability, extra seats, faster journeys and better connections this new line would have brought will now be delivered by a range of other projects.” Read full article
Reducing the environmental impact of motorsport
Uwe Brettel, Special Tasks and Business Development Officer at Porsche Motorsport, reports from Porsche Development Center in Weissach on how he and his team would like to set the course for the development of motorsport that conserves resources as much as possible. Read full article
Hyundai Motor Company recently launched a global online campaign aligned with the all-new SANTA FE’s ‘Open for More’ concept that utilizes generative artificial intelligence (AI) to allow users to create their own outdoor dream destination.
Launched in August, the ‘Open for Imagination’ campaign uses a customized text-to-image AI model to create bespoke images that incorporate the all-new SANTA FE, based on user-selected keywords that evoke moods and outdoor settings, such as ‘relaxed seaside’ and ‘lush forest’.
Redefining what the ideal outdoor location can look like reflects the approach Hyundai Motor took in redesigning the all-new SANTA FE. The midsize SUV’s large tailgate and roomy interior offer a best-in-class terrace-like space that inspires outdoor adventure and imagining dream destinations.
To bring the campaign to life, Hyundai Motor worked with social media influencers to visualize the possibilities with a large LED screen and an actual SANTA FE, using voice recognition to create an immersive experience of arriving at the dream destination in a real car. Read More
Opel car’s Adaptive, glare-free Intelli-Lux LED® technology can be found in all classes of car from the German brand, starting with the newest generation of the Opel Corsa and the eye-catching Opel Mokka. Optionally equipped with the latest generation of Intelli-Lux LED® Pixel Light are the Opel Astra and the Opel Astra Sports Tourer, as well as the Opel Grandland.
Innovation for small cars: New Corsa with further developed Intelli-Lux LED® Matrix Light Opel has demonstrated how it makes innovations available to all by offering the Corsa small car with Intelli-Lux LED® Matrix Light since 2019. The engineers are continuously working on further developments and the new-generation model naturally benefits from this commitment. As a result, the system in the new Corsa features 14 individually controllable LED elements – as in the Mokka – which ensure a stadium-bright driving experience that “cuts out” other road users even more precisely than before. The Opel Astra and the Opel Grandland take Intelli-Lux LED® technology to the next level. With a total of 168 LED elements (84 per headlamp), Intelli-Lux LED® Pixel Light always produces a seamless light pattern, without dazzling other road users. The ultra-slim headlamps “cut” oncoming vehicles out of the light cone with pinpoint accuracy within milliseconds. The remaining areas remain fully illuminated with high beam. The Astra and Grandland therefore set the benchmark in their respective classes. Read More
The 50th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Wednesday, 04 October 2023.
The JMMC reviewed the crude oil production data for the months of July and August 2023 and noted the overall conformity for participating OPEC and non-OPEC countries of the Declaration of Cooperation (DoC). The committee urged all participating countries to achieve full conformity and adhere to the compensation mechanism. The committee reaffirmed the commitment of its member countries to the DoC which extends to the end of 2024 as agreed in the 35th OPEC and non-OPEC Ministerial Meeting (ONOMM) on 4th of June 2023. It also noted the adjustment for the frequency of the monthly meetings to become every two months for the JMMC and the authority of the JMMC to hold additional meetings, or to request an OPEC and non-OPEC Ministerial Meeting as agreed on in the 33rd OPEC and non-OPEC Ministerial Meeting (ONOMM) on 5th of October 2022. The committee will continue to closely assess market conditions noting the willingness of the DoC countries to address market developments and stand ready to take additional measures at any time, building on the strong cohesion of OPEC and participating non-OPEC oil-producing countries. The next meeting of the JMMC (51st) is scheduled for 26 November 2023. Read More
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $84.24 | Down |
| Crude Oil (Brent) | USD/bbl | $85.92 | Down |
| Bonny Light | USD/bbl | $91.19 | Down |
| Saharan Blend | USD/bbl | $91.57 | Down |
| Natural Gas | USD/MMBtu | $2.99 | Down |
| OPEC basket 04/10/23 | USD/bbl | $92.35 | Down |
Baker Hughes Rig Count
U.S. Rig Count is down 7 from last week to 623 with oil rigs down 5 to 502, gas rigs down 2 to 116 and miscellaneous rigs unchanged at 5.
Canada Rig Count is up 1 from last week to 191, with oil rigs unchanged at 115 gas rigs up 1 to 76.
| Region | Period | Rig Count | Change |
| U.S.A | 29 September 2023 | 623 | -7 |
| Canada | 29 September 2023 | 191 | +1 |
| International | August 2023 | 952 | -9 |
drilling operations on a given well
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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