Energy/Automotive News; Saudi Arabia and Russia announced fresh cuts to global oil supply
London, 05 July, 2023, (Oilandgaspress) : Saudi Arabia to extend its unilateral oil production cut of 1 million bpd into August. Russia’s Deputy Prime Minister Alexander Novak said Russia would cut its crude oil exports by 500,000 bpd in August in a bid to ensure a balanced market.
Electric car drivers are being pressured into downloading more than 30 apps to navigate the charging network.
Nearly every firm running charging points in the UK has its own app for payment, which customers are pushed towards when they visit their website. At least a dozen charging providers do not even allow payment by other means, such as cash or contactless card. Dailymail reports
Neste is partnering with Biofuel Express to sell Neste MY Renewable Diesel™ in Denmark. Biofuel Express will distribute and sell Neste MY Renewable Diesel, while Neste will ensure sufficient volumes of the fuel. Neste MY Renewable Diesel has been available in the Danish market since April this year, when Neste entered the market. Read More
Electric car claims are 25% higher than petrols and battery damage means they’re often written off – which may push insurance premiums higher New report says high battery costs makes EVs difficult – and expensive – to repair. Automotive risk intelligence company Thatcham Research warns it could have ‘significant implications’ for motor insurers, premiums and consumer acceptance of EVs. Batteries in electric cars represent a substantial percentage of the original vehicle value and if harmed in anyway often sees insurers deem the cost to repair or replace them exceed the car’s total existing value. Read More
FIAT continues to lead the way for sustainable urban mobility and presents the New Fiat 600e, a great addition to the Brand’s range that marks its return to the B-segment. And it does so by taking everything you love about the B-segment and upgrading it in every aspect: increased space, increased range, increased Dolce Vita feel. Simply put, the New Fiat 600e takes the best of the B and B-SUV worlds to offer a beautiful, joyful, and pampered driving experience.
Following the success of its predecessor and best-seller the Fiat 600 from the ‘50s, also renowned as the family mover, the New Fiat 600e places itself in the heart of the fast-growing B segment.
The New Fiat 600e represents the ideal solution for both city lovers and outdoor enthusiasts and is the perfect embodiment of the brand’s values of Italian style and sustainability. It’s cool and beautiful, it has a generous size of 4,17 meters length with a comfortable roominess for 5, it’s best in class front storage, it boasts an electric range of more than 400km (WLTP combined cycle) and more than 600 km in the city (WLTP urban cycle) and offers state-of-the-art safety features. Read More
FIAT continues its mission to develop sustainable mobility for the cities and turn them into relaxing playgrounds where driving becomes an easy and sustainable experience accessible to all. Such an objective becomes a reality thanks to the new Fiat Topolino, a joyful and cool new electric car for everyone, for families and even the youngest, since the minimum age to drive it – depending on the market – is 14 years old. An eclectic electric vehicle which will fit any moment and any place, offering plenty of usage ways. Topolino is an ideal solution for urban and short-range mobility, able to access anywhere thanks to its electric nature. A homage to the brand’s history and its ability to innovate with likability and coolness, it perfectly embodies the New Dolce Vita style and pure Italian beauty.
With truly unique accessories – such as the little shower, which makes it the perfect beach essential -, a fresh design, and the ability to drive it from age 14 and up, the New Fiat Topolino also embraces a new target audience. Read More
During the period from June 26 to June 30, 2023, Eni acquired on the Euronext Milan no. 5,846,329 shares, at a weighted average price per share equal to 12.9016 euro, for a total consideration of 75,427,243.63 euro within the authorization to purchase treasury shares approved by the Shareholders’ Meeting on 10 May 2023, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999. On the basis of the information provided by the intermediary appointed to make the purchases, the following are details of transactions for the purchase of treasury shares on the Euronext Milan on a daily basis: Read More
Portugal’s renewable electricity production exceeded monthly consumption for what is likely the first time, in March, according to the nation’s transmission system operator, REN.The average renewable generation for the month exceeded 103% of consumption, beating out the last record (99.2%), set in 2014.Water- and wind-generated power can be rather unpredictable, so even as total renewable generation exceeded Portugal’s electricity consumption for the month (as well as some exports), Portugal needed those sources to even out supply. Read More
Portugal produced more power from clean energy sources in March than it actually needed, marking the first time in the 21st century that renewables have topped 100% of its production. But a dearth of energy connections with the rest of Europe remains problematic.
Increasing renewable energy capacity is one of the key pillars of the Energy Union and in the month of March, Portugal was regularly able to meet 100% of its energy needs predominantly through hydro and wind power. According to the Iberian nation’s transmission system operator, REN, renewable energy output reached 4,812GWh, surpassing Portugal’s total electricity needs for March, which only topped 4,647GWh. That meant that the average for the month reached 103.6% from renewables, outstripping the previous contemporary record of 99.2%, set back in February 2014. In the last 40 years, Portugal has not managed to match March’s efforts. Portugal’s renewable energy association (APREN) and sustainability NGO ZERO worked out that the clean energy successes of March will translate into 1.8 million fewer tonnes of CO2 emissions and savings of over €20 million thanks to a reduced need for emissions allowances. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $71.99 | Up |
| Crude Oil (Brent) | USD/bbl | $76.76 | Up |
| Bonny Light | USD/bbl | $75.16 | — |
| Saharan Blend | USD/bbl | $76.08 | — |
| Natural Gas | USD/MMBtu | $2.67 | Down |
| OPEC basket 04/07/23 | USD/bbl | $76.18 | Up |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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