Energy/Automotive News| WTI Crude $78.11/bbl, Brent $82.96/bbl, Natural Gas $2.14/MMBtu
London ,05 May 2024, (Oilandgaspress): — UK’s North Sea Transition Authority (NSTA) offered on Friday another 31 licenses for North Sea exploration in the final tranche of the 33rd oil and gas licensing round.
In all three tranches of the licensing round, the UK regulator has awarded over the past few months a total of 82 licenses to 50 companies. The first tranche offered 27 licenses in October 2023, with the second offering 24 licenses in January 2024.
The 33rd round has attracted 115 bids from 76 companies across 257 blocks and part-blocks, NSTA said.. Read More
Bentley Motors announced the company’s new Compact Full Spectrum Driving Simulator, to be installed at its Dream Factory in Crewe where every Bentley is crafted by hand. The innovative driving simulator offers a more sustainable alternative to physical testing for development of vehicle comfort and will dramatically cut the number of real-world road miles Bentley engineers will cover in order to test the world’s most sought-after luxury cars.
Among the elements the simulator can accurately assess are ride comfort, cabin acoustics and vibration, as well as supporting seat development. It will enable ride comfort evaluations over various emulated road surfaces, such as potholes and bumps, providing a valuable and time-saving representation of vehicle response, long before the reliance on physical prototypes would have previously enabled. Installed at the Bentley’s campus, the pioneering technology will save around 85 tons of CO2 and up to 350 days of traditional road testing per vehicle prototype. Developed in Italy by global simulator specialists VI-grade, the compact system will play a major role in the development of Bentley’s forthcoming range of battery electric vehicles. Read More
Bentley is taking the lead as automotive partner of Goodwoof 2024 for the third year running, which is held from 18-19 May on the lawn of The Duke of Richmond’s Goodwood estate. A fleet of fetching Bentayga SUVs will provide extra bark and growl to a range of activities that will give two and four-legged guests a pawfect weekend.
Goodwoof brings together dog lovers from across the globe for a weekend of activities including world-class competitions from top canine athletes; wellness workshops and talks from key behavioural and veterinary experts.
The year of the Labrador at Goodwoof will see hundreds of Labradors take to center stage for the main parade, with more breed-themed meets to follow throughout the day. Each led by a trusty Bentley to guide them along the route and ensure that all tails are wagging in the right direction.
Bentley will also unveil a one-of-a-kind pawsh photobooth designed in collaboration with luxury pet outfitter, Mungo & Maud. Featuring delightful canine-inspired motifs, the Bentayga will be creatively transformed with a curation of signature accessories creating the perfect setting for su-paw model pooches to strike a pose. All money raised will go to Jai Dog Rescue – Goodwoof’s charity sponsor for 2024. Read More
The Mullin Collection lots were offered from the former Mullin Automotive Museum in Oxnard, California. It was renowned as the greatest collection of French Classic and Art Deco automobiles in the world, alongside many other star attractions, but closed permanently following the death of its visionary founder, Peter Mullin, in September 2023. Displaying the remarkable talent of the entire Bugatti family, the Mullin Automotive Museum housed more than 75 pieces of furniture by Carlo Bugatti, numerous sculptures by Rembrandt, and the largest private collection of Ettore and Jean Bugatti automobiles in the world. For a long time, the highlight of the museum was the Jean Bugatti-designed 1936 Type 57SC Atlantic.
A selection of these extraordinary models were offered by Gooding & Company at its recent sale, with the star of the auction a 1938 Bugatti Type 57C Aravis ‘Special Cabriolet‘, with a lower estimate of $2,500,000 which sold for $6,605,000 – a world record price for this model. The supercharged Type 57C is one of only three examples of the Gangloff-bodied Aravis that survived until today, ordered new by Avignon agent Granat & Fils for famed Bugatti team racing driver Maurice Trintignant. Featuring ivory bodywork with dark blue fenders and trim, chassis 57768 was successfully raced in-period by Trintignant at the Grand Prix du Comminges in 1939. It underwent a nut-and-bolt restoration in 2005 by Sargent Metal Works and was part of the Peter Mullin Collection since 2002.
A Bugatti Type 46 Semi-Profilée Coupe also shattered the world record for a Type 46, selling for $1,105,000, against a lower estimate of $650,000. Adorned in beautifully executed, replicated semi-profilée-style coachwork, this rare Type 46 was ordered new by Bugatti agent Vladimir Gut in Prague, where it spent a portion of its early life gracing the stables of prominent Czech owners. After passing through a succession of owners it underwent a restoration in the early 2000s, when Harry Kouwen was contracted to make a replica of the most stunning body ever to grace a Type 46: the Semi-Profilée.: . Read More
Opel started producing cars 125 years ago and soon enjoyed its first successes with models such as the 4/8 PS (hp) “Doktorwagen”. From the very beginning, the manufacturer has made it its mission to provide mobility for a broad section of the population. The breakthrough comes in 1924: exactly 100 years ago, Opel introduces mass production with assembly line technology. The first car to roll off the assembly line in Germany is the Opel 4/12 PS “Laubfrosch”, which is always painted green. With this new model, Opel revolutionises the automotive industry in Germany. Thanks to its highly efficient production, prices fall and individual mobility on four wheels becomes affordable for many for the first time. Sales climb to unprecedented heights. Around 120,000 units of the Opel 4 PS are produced between May 1924 and June 1931.
Today, the Corsa plays the role of the affordable and innovative small car pioneer at Opel. Since its market launch over 40 years ago, it continually has brought top technologies to the small car segment that drivers are usually only familiar with from higher vehicle classes. As an “electric pioneer”, the Corsa is the first Opel model to kick off the brand’s major electric offensive in 2019. With huge success: the Corsa Electric becomes a bestseller and paves the way for further development. Since then, Opel has consistently electrified its entire range – and this year, the manufacturer will offer at least one battery-electric variant for each model. However, Opel laid the foundation for modern, efficient series production 100 years ago – with the introduction of the assembly line and the Opel 4/12 PS.
New customer groups: The Opel 4/12 PS Laubfrosch as a “car for everyone” Read More
Four years after its market introduction, Citroën Ami is undergoing a transformation and adopting a new “Night Sepia” livery, a raw dark brown that adds more substance and strength without losing its unique character. Since April 2020, nearly 50,000 Citroën Ami vehicles have been sold across 14 markets—it’s a true social phenomenon that has changed the landscape of urban and peri-urban mobility. Citroën Ami has forever been the first to address the challenges of micro-mobility and energy transition with an affordable, innovative electric vehicle, usable in some countries from the age of 14 without a driver’s license, two-seater, safe, and comfortable.
For the occasion, its range is evolving. Citroën Ami retains the best of the Tonic and Pop versions to create a new one, the Peps, which features an attractive style made of contrasts, colour touches, and graphics as well as clever accessories to enhance everyday life. Furthermore, always attentive to its customers, Citroën has evolved its Cargo version to the benefit of a module called My Cargo Kit, proposed as an accessory, which offers greater versatility of use for Ami. There’s no longer a need to sacrifice the passenger seat. The customer can choose between transporting a passenger or deploying this module that provides a practical and easy-to-set-up loading volume.Citroën is evolving its range by introducing the My Ami Peps version, a high-end version that combines the best of the Pop and Tonic versions. This version complements the entry-level Ami Ami and the mid-range versions My Ami Orange, Grey, or Blue. On the outside, My Ami Peps is a dynamic version of Ami, ready to weave through traffic while playfully resembling a small sports car. It also adopts elements of urban ruggedness. The Peps version features a very expressive front end with a black graphic band under the windshield animated by sharp yellow horizontal stickers, as well as black headlight rims. Its dynamism is expressed through the rear spoiler, its four floral-design wheel covers with white decorations, the two custode stickers, and two lower door stickers. Read More
Baker Hughes Rig Count: : U.S. -8 to 605 Canada +2 to 120
U.S. Rig Count is down 8 from last week to 605 with oil rigs down 7 to 499, gas rigs down 3 to 102 and miscellaneous rigs up 2 to 4.
Canada Rig Count is up 2 from last week to 120, with oil rigs up 4 to 60, and gas rigs down 2 to 60.
International Rig Count is up 7 rigs from last month to 978 with land rigs up 7 to 743, offshore rigs unchanged at 235
The Worldwide Rig Count for April was 1,726, down 67 from the 1,793 counted in March 2024, and down 82,from the 1,808 counted in April 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 03 May 2024 | 605 | -8 |
| Canada | 03 May 2024 | 120 | +2 |
| International | April 2024 | 978. | +7 |
INEOS Automotive has announced a bespoke expedition for adventurous 4X4 drivers, covering 1,500km over eight days in South Africa. The exclusive trip will give 16 guests access to breathtaking scenery, luxury accommodation and a hands-on overlanding drive in Grenadiers that will never be forgotten.
Starting on 4 May, the inaugural expedition has been locally curated and traverses game reserves and private estates, staying at selected premium hotels, luxury game lodges and a private manor house. Departing from Cape Town the trip will go through Paarl and Wellington winelands, over the Cedarberg wilderness area, Roggeveld and Outeniqua Mountains and through the Tankwa and Great Karoo biomes, before finishing at Gqeberha on the Eastern Cape coastline. The adventure will be led by INEOS Kavango, the specialist conversion division based in northern Botswana with extensive experience across the region. The excursion is designed to give 4X4 drivers from around the world the opportunity to put the INEOS Grenadier through its paces in the incredible environment which it was engineered to tackle with ease. Spaces are limited to just sixteen guests and includes all planned activities, freshly prepared meals, and full technical and logistical support. The expedition will be led by professional off-road guides with local specialists and will be captured by a dedicated video and photography team.. Read More
Jaguar Land Rover Automotive plc will be holding an investor day on 19 June 2024 starting promptly at 9:00am UK time.
This event will give JLR bond holders and TML equity investors an opportunity to hear from the leadership of JLR on a range of topics. The afternoon schedule will include a driving experience and a product immersion session.
The investor day will be held at our site in Gaydon, Warwickshire, UK with registration and refreshments starting at 8:00am UK time. The formal presentations are scheduled to finish at 2:00pm UK time, and the driving experience is expected to finish at 5:00pm.
Attendees should register by 31 May 2024 by completing the online registration at: JLR Events (jlrglobal-events.com). Note that in order to ensure maximum comfort and safety for all participants, there is limited capacity for the driving experience. Places will be allocated in order of registration.
A copy of the presentation material will be made available via our website on the day. There will be no live broadcast, but an online recording of the formal presentations will be provided following the event. Read More
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Gazprom reported its first annual net loss since 1999 on falling shipments to Europe and lower prices for the fuel.
Gazprom Group, which also includes oil and power businesses, posted a 629 billion-ruble ($6.84 billion) loss last year compared with net income of 1.23 trillion rubles in 2022, according to an earnings report published Thursday.
The energy company’s shares fell as much as 4.4%, the steepest decline in more than a year, amid market concerns over its dividend prospects. Gazprom’s biggest shareholder is the Russian government, whose budget is under pressure amid rising military spending and Western sanctions.
The net loss follows restricted gas flows to Europe — historically Gazprom’s biggest market — amid the Kremlin’s retaliation for Western support of Ukraine after Russia’s invasion in 2022. Meanwhile, plunging gas prices amid mild weather, sluggish demand and brimming inventories contributed to Gazprom’s loss. Read full article
Glencore published its third annual Ethics and Compliance Report in line with our commitment to being a responsible and ethical operator.
Similar to the previous editions, this year’s report provides a detailed overview of our Ethics and Compliance Programme (Programme), including a summary of our approach, our compliance governance and structure and the various systems and processes that we implement to support our Programme.
The 2023 report further includes an update on the work undertaken by the compliance monitors mandated under our resolutions with the United States Department of Justice, which commenced in June 2023.
Kalidas Madhavpeddi, Chairman, said: “The Board and management of Glencore are clear – acting in accordance with our Values, our Code of Conduct, and the law is non-negotiable. When we do so, day-in and day-out, we are able to protect and enhance our reputation as a business partner of choice.”
Gary Nagle, Chief Executive Officer, said: “In the past year, we have continued to enhance our Programme and are working hard to further embed ethics and compliance in each facet of our business, no matter where in the world we operate. We continue to invest significant resources in systems and people towards building, implementing and maintaining a ‘best-in-class’ Programme.”
We are committed to utilising the lessons learned from prior misconduct not only to drive our own focus on ethical business practices, but also to help address the challenge of corruption in the extractive industry. Read full article
Perenco UK Limited (Perenco) has been fined £225,000, the highest ever financial penalty handed out by the North Sea Transition Authority (NSTA), for venting 59 tonnes of gas for over a month from its Dimlington onshore gas processing plant without consent.
The company had permission to vent 235 tonnes from 1 January – 31 December 2022, but exceeded that limit on 6 November and vented the extra gas until a new consent was issued on 14 December 2022.
The company produces natural gas from fields in the Southern North Sea and operates terminals in Dimlington, East Yorkshire, and Bacton in East Anglia.
Perenco stated that it had systems to track the daily volumes of gas it emitted. However, there was an absence of internal mechanisms to ensure that any risks identified through this system were appropriately actioned.
The central objective of the financial penalty in this case is deterrence, with the penalty being set at a sufficient level to reflect this and the seriousness of the breach, as well as Perenco’s delayed engagement with the NSTA in the lead-up to identifying that a breach had occurred.
The NSTA aims to eliminate unnecessary or wasteful flaring and venting of gas. The OGA Strategy includes a requirement for industry to reduce greenhouse gas emissions from sources such as flaring and venting to assist the drive to net zero.. Read full article
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $78.11 | Down |
| Crude Oil (Brent) | USD/bbl | $82.96 | Down |
| Bonny Light | USD/bbl | $84.45 | Down |
| Saharan Blend | USD/bbl | $83.87 | Down |
| Natural Gas | USD/MMBtu | $2.14 | Up |
| Murban Crude | USD/bbl | $83.16 | Down |
| OPEC basket 02/05/24 | USD/bbl | $84.23 | Down |
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