Energy/Automotive News to 9, Nov. 2023
London, 09 November, 2023, (Oilandgaspress): – Saudi Arabia’s state energy major Aramco reported a 23% decline in profits for the third quarter, citing lower oil prices and lower sales
Indian commerce minister Piyush Goyal will meet Tesla (TSLA.O) chief Elon Musk in the United States next week as the two sides look to advance the U.S. carmaker’s plan to enter the South Asian market, sources familiar with the plans said.
The meeting between Goyal and Musk will be the most high-profile one since the Tesla boss met Indian Prime Minister Narendra Modi in June and later said he was keen to make significant investments in the country (Reuters) -. Read full article
Germany, Norway, the UK Governments plan to increase oil and gas production until at least 2050, UN-backed study reveals.
Major fossil fuel-producing countries plan to extract more than double the amount of fossil fuels in 2030 than is consistent with the Paris climate accord’s goal for limiting global temperature rise. This is despite frequent and devastating heatwaves, droughts, floods and wildfires in recent months. Coal production needs to ramp sharply down to address climate change, but government plans and projections would lead to increases in global production until 2030, according to a United Nations-backed study released Wednesday. Global oil and gas production, meanwhile, would increase until at least 2050, the Production Gap Report states. This conflicts with government commitments under the climate accord, which seeks to keep global temperature rise below 1.5 degrees Celsius. Read full article
Saab and the Swedish Civil Contingencies Agency (MSB) have signed a new contract which means that Saab will continue to provide arial firefighting aircraft as well as crew and logistics during 2024-2025.
Saab is currently operating four scooping firefighting aircraft on behalf of MSB and the new contract means that Saab will continue this provision 2024-2025. Saab and MSB have also signed a framework agreement which allows MSB to extend the service until 2027. This also includes options for up to six additional aircraft.
The purpose is to support local the rescue services’ capability of coping with forest fires. Parts of the service is included in the EU’s common firefighting provision and can be ordered by the EU to support member nations. The aircraft are on standby at Skavsta Airport near Nyköping, Sweden, to be ready for missions in 180 minutes and can be deployed to other locations or provided at shorter standby times if the situation requires.
“I am proud that Saab can continue to provide Sweden and the EU with fire fighting capability and this also underlines our ability to support Swedish society on the civil side,” says Lars Tossman, head of Saab’s business area Aeronautics.
Saab has operated the AT-802F Fire Boss firefighting aircraft since 2020 and has carried out more than 60 operative missions in collaboration with MSB and local rescue services, with excellent results. Read full article
KBR announced today it has been awarded a Front-End Engineering Design (FFED) contract by Fidelis New Energy for Project Fyrkat, a liquid carbon dioxide (LCO2) receiving terminal at the Port of Aalborg, Denmark. Under the terms of the contract, KBR will provide engineering to support the LCO2 handling and storage facility, as Fidelis New Energy aims to help global decarbonization.
Project Fyrkat is one of the first onshore CO2 sequestration facilities, and is part of a larger initiative, Project Norne, which expects to store more than 20 million tonnes of CO2 per year by 2030. This equates to around half of all Denmark’s yearly emissions. Norne will provide emitting companies with access to an affordable and safe pathway to process their CO2 emissions. “We are extremely pleased to be a part of this significant liquid carbon dioxide project in Europe,” said Jay Ibrahim, President, KBR Sustainable Technology Solutions. “KBR’s strategic commitment and expertise in energy transition, coupled with our world-class engineering professionals, enables us to provide cutting-edge solutions to projects that are the key to helping our world achieve net-zero carbon emissions.”
KBR has successfully delivered similar projects involving liquid carbon dioxide. KBR understands the intricacies of such projects, and the criticality in providing a cleaner, more sustainable world. “We are thrilled to work with KBR for our receiving facility due to their extensive experience and expertise with liquid carbon dioxide, enhancing our ability to service our clients’ marine transported CO2 volumes,” added Ulrik Weuder, Managing Director for Fidelis Europe. “Fidelis has been working in Denmark for over two years to position the Norne Carbon Storage Hub as the carbon storage leader in Europe. Norne will enable emitters in Northern Europe to decarbonize both safely and economically.” Read full article
Evero Energy Group Limited (Evero; previously known as Bioenergy Infrastructure Group), a leading low-carbon waste-to-energy company, has announced that it will be partnering with Mitsubishi Heavy Industries, Ltd. (MHI), one of the world’s leading industrial groups, to deliver its InBECCS (Ince Bioenergy with Carbon Capture and Storage) project.The InBECCS project will be retrofitted on Evero’s Ince Bio Power site, a waste wood to energy facility located in the North-West of England, with excellent proximity to the Hynet industrial cluster.
Greg Williams, Head of External Affairs at Evero, said “Installing carbon capture on Ince Bio Power will result in a BECCS project with excellent sustainability credentials, and the ability to deliver engineered removals at scale. Its feedstock is locally sourced waste wood that would otherwise be landfilled or exported. It is also well positioned on the Protos energy park in close proximity to HyNet’s prospective CO2 pipeline.”
The project would generate as much as 250,000 tonnes of engineered carbon removals a year, once operational in 2029 and deliver ~5% of the Government’s 2030 Greenhouse Gas Removals target, due to the project’s high biogenic content waste wood feedstock*.
BECCS will have an important role to play in helping to achieve the UK’s net-zero targets, as the most scalable technology available today, to remove CO2 from the atmosphere. The UK Government’s recently published Biomass Strategy identified that BECCS using end of life waste wood – as used in Ince Bio Power – is a highly sustainable form of BECCS. Read full article
Mitsubishi Heavy Industries, Ltd. (MHI) has been selected as licensor of CO2 capture technology for the project known as EET Industrial Carbon Capture which is underway at the Stanlow Refinery, owned and operated by Essar Oil UK Limited in Cheshire County in northwest England. Essar Oil UK is the UK arm of the Essar Group, a multinational conglomerate based in India.
The project at Stanlow will capture CO2 emissions from the fluid catalytic cracker in the refinery process. This contributes to Stanlow becoming the UK’s first low-carbon refinery. Once it is built, it will capture approximately 860,000 tons of CO2 per year. The project is supported by HyNet, the carbon capture, utilization and storage (CCUS) cluster in northwest England. The captured CO2 will be permanently sequestered into depleted gas fields under the sea in Liverpool Bay.
MHI, as a licensor of the project’s CO2 capture technology, will support the project by providing the basic engineering design package (BEDP) applying its “Advanced KM CDR Process™,” CO2 capture technology jointly developed with The Kansai Electric Power Co., Inc. The British Government has set a target to achieve net zero carbon emissions by 2050. In line with this initiative, the requisite infrastructure, including formation of CCUS clusters, is being developed to carry out all related processes – from CO2 capture to transportation and storage – at each of the country’s targeted industrial zones. Read More
Mitsubishi Heavy Industries, Ltd. (MHI) has carried out autonomous inspections at a refinery employing the “ASCENT,” a second-generation “EX ROVR” plant inspection robot with explosion-proof features (Note1) currently under joint development with ENEOS Corporation. The inspection testing took place at ENEOS’s Oita Refinery in Kyushu within the framework of the two companies’ joint R&D program for the 2023 fiscal year (Note2). Conducted between June and the end of September, the operational tests confirmed the ASCENT’s outstanding mobility performance in diverse environmental conditions including uneven floor levels in the refinery’s oil dike, narrow spaces, grass and gravel surfaces, pooled water, and night-time operations. The test program also succeeded in acquiring visual images of instrumentation, thermal scans, and acoustic mapping information to replace manned inspection in a refinery setting.
MHI also showcased the EX ROVR ASCENT at the SPRINT Robotics World Conference for Inspection & Maintenance Robotics 2023, held in Houston, Texas, in October (Note3). Here, the Company introduced the results of its long-term trial runs conducted together with ENEOS, as well as ENEOS’s roadmap for fully integrating EX ROVR at their assets by 2030. The new robot was enthusiastically received by visitors from around the world, resulting in inquiries from business operators across the globe.
Because the EX ROVR can perform round-the-clock inspections in potentially explosive environments, it is well positioned to provide value through enhancing worker safety, boosting work efficiency, and improving facility operating rates. Read More
The Global Child Forum, together with the Boston Consulting Group, has ranked Hydro as number 12 in Europe among many global companies in their latest report “The State of Children’s Right & Business 2023.”
Hydro is highlighted in the report for its social initiatives in Brazil. The report states that Hydro has developed and implemented several policies and practices that address the organization’s impact on children’s rights across several important areas. The company has taken concrete steps to move beyond policies and has embedded children’s rights into company practice, following-up through monitoring, transparent reporting, and programs to create actions for children’s rights.
“Our company’s purpose is to create a more viable society, which means we must take responsibility outside of our own fences. With over 25,000 suppliers, we have the potential to positively affect the lives of a large number of people, indirectly linked to our company,” says Nina Schefte, Head of Corporate Social Responsibility at Hydro.
The Swedish non-profit foundation has conducted a global review of 795 companies, evaluating policies, commitments and implementation of measures safeguarding children’s rights. The report benchmarks four indicators, namely governance and collaboration, workplace, marketplace, and community and environment.
Hydro believes that businesses cannot succeed in societies that fail, and takes an active position in positively impacting communities directly and indirectly affected by its operations. Read More
Idemitsu & Toyota Team Up to Create Global Standard for All-Solid-State Batteries. The two companies will seek to develop mass production technologies for solid electrolytes—the pathway for ions moving between the cathode (+) and anode (-)—to improve productivity and establish a supply chain.Toyota aims to commercialize the technology with battery electric vehicles (BEVs) slated for release in 2027-28.
The two companies lead the world in patents related to all-solid-state batteries and the sulfide solid electrolytes used to make them. Through closer collaboration, they will aim to establish the global standard. Read More
DNO ASA, the Norwegian oil and gas operator, today reported third quarter revenue of USD 141 million, up 142 percent from the previous quarter, on higher sales of oil and gas across its portfolio. Net quarterly production totaled 37,200 barrels of oil equivalent per day (boepd), up 158 percent, with Kurdistan contributing 19,500 boepd, North Sea 14,300 boepd and West Africa the balance. Operating profit stood at USD 40 million, reversing a loss of USD 15 million in the second quarter. Net loss of USD 55 million was driven by an accounting adjustment of USD 45 million in the book value of the Kurdistan Regional Government (KRG) arrears.
Following closure of the Iraq-Türkiye Pipeline last March, the Company gradually reopened the Tawke and Peshkabir fields (DNO 75 percent and Genel Energy International Ltd 25 percent) and stepped up deliveries to local trading companies in Kurdistan. Production continues to increase; so far in the fourth quarter output is averaging double the level of the third quarter.
The DNO-Genel contractual entitlement, currently around one-half of volumes produced, is sold at prices that vary narrowly in the mid USD 30s per barrel, and payments are made in advance before any oil is delivered.
DNO has over the last 12 months recovered around USD 15 million, including USD 8 million in October, of the accumulated KRG debt to DNO for previous oil sales in 2022 and 2023 (in excess of USD 300 million). Read More
DNO ASA, the Norwegian oil and gas operator, today announced that pursuant to the authorization granted at the Annual General Meeting held on 25 May 2023, the Board of Directors has approved a dividend payment of NOK 0.25 per share to be made on or about 24 November 2023 to all shareholders of record as of 17 November 2023. DNO shares will be traded ex-dividend as of 16 November 2023.
Dividend amount: NOK 0.25 per share
Declared currency: NOK
Last day including right: 15 November 2023
Ex-date: 16 November 2023
Record date: 17 November 2023
Payment date: 24 November 2023 (on or about)
Date of approval: 8 November 2023, based on authorization granted 25 May 2023 Read More
Bringing to life the Stellantis core value of “We Win Together,” the Company’s manufacturing and technical experts met with 64 suppliers and startups from around the world today to audition and possibly adopt innovative solutions that can reduce CO2 emissions, improve product quality, decrease costs and help deliver an industry-leading customer experience.
The annual event, now in its eighth year, is known as Factory Booster Day. Beginning as a bottom-up effort, Stellantis’ global manufacturing facilities identified 35 challenges that align to their strategic goals and the Dare Forward 2030 strategic plan. In a unique process, Stellantis shared these factory challenges with current and potential future suppliers, including startup companies and universities, in an “open call,” asking for their best ideas.
The process culminated with the 2023 Factory Booster Day event in Betim, Brazil, where selected companies presented 99 of the most promising solutions to the challenges. In addition to the physical event, Stellantis manufacturing team members from around the world viewed presentations and demonstrations virtually through a metaverse platform. Plant managers who believe a solution can solve the challenge are empowered to launch a pilot test. Test results are reviewed and shared by an Innovation Committee, led by engineering and plant leadership. Successful solutions are then deployed at other Stellantis plants around the globe.
Some of the challenges for 2023 Factory Booster Day include: Read More
|Oil and Gas Blends||Units||Oil Price US$/bbl||Change|
|Crude Oil (WTI)||USD/bbl||$75.67||Down|
|Crude Oil (Brent)||USD/bbl||$79.91||Down|
|OPEC basket 08/11/23||USD/bbl||$84.27||Down|
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has provided insight into how the lingering conflict between Russia and Ukraine has impacted Nigerian crude oil inflows in the international oil market, leading to a dip in demand from the once-dependable Asian market at the onset of hostilities in the Eastern bloc.
Maryamu Idris, Executive Director, Crude & Condensate, NNPC Trading Limited, said in a panel presentation at the Argus European Crude Conference in London, that in addition to the substantial price shocks impacting commodity and energy prices globally, the conflict between Russia and Ukraine has triggered a situation where India, a primary destination for Nigerian grades, increased its appetite for discounted Russian barrels to the detriment of some Nigerian volumes.
“To illustrate the extent of this shift, Nigeria’s crude exports to India dwindled from approximately 250,000 barrels per day (bpd) in the six months preceding the February 2022 invasion of Ukraine to 194,000 in the subsequent six months afterwards. And so far, this year, only around 120,000 bpd of Nigerian crude volumes have made their way to India,” she said.
On the other hand, she noted that the Nigerian crude flow to Europe has increased in a bid to fill supply gaps left by the ban on Russian crude, pointing out that six months before the war, 678,000 bpd of Nigerian crude grades went to Europe, compared to 710,000 bpd six months later and 730,000 bpd so far this year.
“This trend makes it evident that Nigerian grades are increasingly becoming a significant component in the post-war palette of European refiners. Several Nigerian distillate-rich grades have become a steady preference for many European refiners, given the absence of Russian Urals and diesel. Forcados Blend, Escravos Light, Bonga, and Egina appear to be the most popular, and our latest addition — Nembe Crude – fits well into this basket. This was a strong factor behind our choice of London and the Argus European Crude Conference as the most ideal launch hub for the grade,” Idris also said.
On production challenges, Idris remarked that, like many other oil-producing countries, Nigeria had faced production challenges aggravated by the COVID-19 pandemic, including reduced investment in the upstream sector, supply chain
disruptions impacting upstream operations, ageing oil fields, and oil theft by unscrupulous elements. These factors, she said, contributed to production declines in the second half of 2022 and early 2023.
Idris, however, noted that the challenges are fast becoming a thing of the past with the introduction and implementation of a new framework for the domestic petroleum industry (the PIA of 2021), rejuvenating the business landscape, and re-positioning NNPC Limited to adopt a more commercial approach to the management of the nation’s hydrocarbon resources.
According to her, NNPC Limited has secured vital partnerships with notable financial institutions to promote upstream investments to restore and sustainably grow production capacity in the coming years. Read full article
Baker Hughes Rig Count: U.S. -7 to 618 Canada 196
U.S. Rig Count is down 7 from last week to 618 with oil rigs down 8 to 496, gas rigs up 1 to 118 and miscellaneous rigs unchanged at 4.
Canada Rig Count is unchanged from last week at 196, with oil rigs unchanged at 122, and gas rigs unchanged at 74.
International Rig Count is up 22 rigs from last month to 962 with land rigs up 27 to 743, offshore rigs down 5 to 219.
|U.S.A||03 November 2023||618||-7|
|Canada||03 November 2023||196||0|
Hyundai will livestream the debut of the all-new 2024 Santa Fe during its North American premiere at the Los Angeles Auto Show. The fifth-generation Hyundai Santa Fe showcases an ‘Open for More’ development concept centered around its new, wider liftgate opening and spacious interior. The premiere will take place at 10:10 a.m. PT on Nov. 16, during the Los Angeles Auto Show media days at the Los Angeles Convention Center and will be livestreamed around the world. Read More
Volkswagen of America, Inc. today announced that the 2024 Volkswagen Atlas and 2024 Atlas Cross Sport were each named a 2023 TOP SAFETY PICK+ by the Insurance Institute for Highway Safety (IIHS). They join the 2023 ID.4 on the 2023 TOP SAFETY PICK+ list.
To qualify for the TOP SAFETY PICK+ award in 2023, a vehicle must earn a good rating in the Institute’s updated side test as well as in the driver-side small overlap front, passenger-side small overlap front and original moderate overlap front tests. Acceptable or good headlights must be standard across all trims, and a front crash prevention system that earns advanced or superior ratings in both the daytime and nighttime vehicle-to-pedestrian evaluations must be available. The 2024 Atlas and Atlas Cross Sport come with a standard front crash prevention system that earns advanced ratings in both the daytime and nighttime pedestrian crash avoidance tests, and the two available headlight systems both earn good ratings. Read More
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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