Energy/Automotive News Roundup: More oil discovered at Stabroek offshore block, Guyana
London, 26 October, 2023, (Oilandgaspress): – An appraisal well drilled by a consortium led by Exxon Mobil in Guyana has resulted in a “significant discovery” of oil and gas, the South American country’s energy ministry said on Thursday. The Lancetfish-2 well results mark the fourth offshore discovery in the country this year, and brings the total number of discoveries from 2015 to date to 46, for more than 11 billion barrels of recoverable oil and gas.
Tata Motors, India’s leading automobile company, today released its 9th Annual CSR Report, highlighting its extensive efforts towards addressing some of India’s most critical and social challenges across the domains of Health (Aarogya), Education (Vidyadhanam), Employability (Kaushalya) and Environment (Vasudhara). Collectively, these efforts have benefitted more than 60 lakh lives over the past 10 years, with a significant percentage of beneficiaries belonging to the marginalised communities.
In 2014, Tata Motors designed and adopted a comprehensive 4-pillar approach to harmonise its CSR initiatives across the country. Capabilities, experience and expertise acquired by individual units and teams in each identified fields led to the creation and execution of focused interventions with clearly defined outcomes and remarkable results. By harmonising programmes across locations, leveraging digital technologies, fostering partnerships with diverse stakeholders, and strengthening trust with the communities, the company effectively surpassed its projected impact. Read full article
Britain’s deep coal mines have become a surprising source of green energy, one that’s been heating the town of Gateshead successfully for 6 months.
The scheme is believed to be replicable in areas with extensive abandoned mine works, and offers a kind of renewable redemption for a nation with a long history of dirty energy. Gateshead Council’s mine water project launched in March 2023 and now has a large central heat pump that provides low-carbon heating to 350 high-rise buildings, an art gallery, a college, an industrial park, and several office buildings.
As oil and gas gradually replaced coal, Britain’s hundreds of miles of coal mining tunnels were gradually abandoned over the decades. Inundated by flood waters that became heated by the Earth’s core, Britain suddenly had a semi-naturally occurring geothermal energy source to harvest.
At certain depths, mine water can sit at over 100° Fahrenheit, or precisely 45°C. The renewable energy use here involves pumping the water into home heat pumps which further raises the temperature. The authority owns and manages the disused coal-mining infrastructure on behalf of the UK government, and their water resources amount to about two billion cubic meters, or half the amount of water in Loch Ness. Read full article
Baker Hughes (NASDAQ: BKR) announced today that the Baker Hughes Board of Directors declared a quarterly cash dividend of $0.20 per share of Class A common stock payable on Nov. 17, 2023, to holders of record on Nov. 6, 2023. Read full article
Dana Incorporated (NYSE: DAN) announced today that its board of directors has declared a dividend on its common stock.
The board declared a quarterly dividend of $0.10 per share, payable Dec. 1, 2023, to holders of Dana common stock as of Nov. 10. Read full article
U.S. Environmental Protection Agency (EPA) is announcing the launch of a web-based tool that enables users to explore aggregate energy use data from more than 150,000 commercial and multi-family buildings in the United States. The new Data Explorer tool will help building managers unlock potential savings based on the data from ENERGY STAR® Portfolio Manager®, the nation’s largest energy benchmarking platform for commercial and multifamily buildings. The Portfolio Manager Data Explorer is the latest in a suite of tools from EPA to help propel the adoption of energy-efficiency practices through market-based information.
“Improving the energy efficiency of our commercial and multifamily buildings is critical to reaching our nation’s ambitious climate goals,” said EPA Administrator Michael S. Regan. “By providing greater transparency into energy use trends across regions and building types, users will be better equipped to target investment, shape policy, and unlock the untapped savings potential of more than 6 million buildings across the nation.”
With the Portfolio Manager Data Explorer, users can quickly understand how the energy use of buildings in Portfolio Manager varies based on the type of building, where it is located, its size, and a variety of key metrics. Building owners and managers can access more granular comparative metrics to see how their buildings perform against similar buildings in their area, and policymakers can view and download energy use metrics at the local and state level to refine building performance policies.
Data in the Portfolio Manager Data Explorer comes from EPA’s ENERGY STAR Portfolio Manager, an online energy measurement and tracking tool that serves as a trusted platform for building owners and managers, energy service and product providers, and building performance policies across the nation. EPA conducted a rigorous process to clean the data, with the final dataset for each year including over 150,000 U.S. properties of all types. To ensure privacy, searching for an individual property is not possible and a query must return six or more properties to show aggregated results. Read full article
Eni’s Board of Directors, chaired by Giuseppe Zafarana, today resolved to distribute to Shareholders the second of the four tranches of the provision in place of the 2023 dividend from Eni S.p.A. available reserves[1] of € 0.23 (compared to a total annual provision, in place of the dividend, equal to € 0.94) per share outstanding at the ex-dividend date as of 20 November 2023[2], payable on 22 November 2023[3], as resolved by the Shareholders’ Meeting of 10 May 2023.
Holders of ADRs, outstanding at the record date of 21 November 2023, will receive € 0.46 per ADR, payable on 7 December 2023[4], with each ADR listed on the New York Stock Exchange representing two Eni shares. Read full article
BMW France is official partner of the fair and presents the project of this year’s winning duo. For half a century, BMW Group has been a major patron of culture, supporting hundreds of projects around the world. The Group contributes to the diffusion of knowledge and the arts through long-term partnerships such as the one forged two decades ago with Paris Photo. BMW France supports the VIP programme and provides Paris Photo with a fleet of electric cars to transport collectors, artists, curators and fair VIPs. Each year, the BMW ART MAKERS programme supports an artistic project and produces an exhibition conceived by a duo of artist and curator.
INSOLARE, the exhibition presented by the BMW ART MAKERS winning duo.
The INSOLARE project is a new experiment, the fruit of collaboration between Eva Nielsen, artist, and Marianne Derrien, curator, and was conceived especially for the Rencontres d’Arles and Paris Photo, of which BMW is an official partner. Their approach, which is both poetic and scientific, questions time and the sedimentation of the urban and Camargue landscape. With this project, the duo evoke the changes in the environment that are leading to the disappearance of certain urban, industrial and natural landscapes, where the human footprint is always in question. Read full article
BMW Group produces battery cell samples in Parsdorf
A tiny piece of the future began rolling off the production line in Parsdorf today: 95 millimetres tall, cylinder-shaped, with a diameter of 46 millimetres. These are the new battery cell samples – like those that will be used in the models of the Neue Klasse from 2025 onwards – being produced at the new Cell Manufacturing Competence Centre (CMCC) in Parsdorf. The BMW Group is thus positioning itself to ramp up electromobility efficiently and showcasing its leading role in battery cell technology.
“With the Cell Manufacturing Competence Centre, we are strengthening Germany’s capacity for innovation,” explained Milan Nedeljković, member of the Board of Management of BMW AG, responsible for Production. “In this way, we are making an important contribution to the quantum leap in technology in the Neue Klasse.”
“Production of battery cell samples in Parsdorf marks the next logical step in our battery cell strategy,” said Frank Weber, member of the Board of Management of BMW AG, responsible for Development. “The Cell Manufacturing Competence Centre is the perfect complement to our existing Battery Cell Competence Centre in the north of Munich. Development takes place there, then we scale the best product towards a series process in Parsdorf. Thanks to cross-divisional collaboration, we are able to link product and process in a unique way.”
The CMCC in Parsdorf will enable the BMW Group to span the whole cell value creation process. With this know-how, the company is setting benchmarks for production, quality, performance, costs and environmental standards, which it is implementing in close cooperation with its partners for standard production of battery cells. At its battery cell competence centres in Munich and Parsdorf, the BMW Group is systematically pursuing future milestones, such as the ramp-up of the sixth generation of BMW electric drive trains and development of all-solid-state batteries (ASSB). Read full article
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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