Energy/Automotive News| WTI Crude $81.93/bbl, Brent $86.11/bbl, Opec $86.52/bbl
London, 20 March 2024, (Oilandgaspress):-he U.S. Energy Information Administration (EIA) has projected Brent to average $82.42 in 2024 and $79.48 in 2025 while WTI will average $77.68 a barrel for 2024 and $74.98 in 2025. They raised their global oil demand forecast to 1.3 million barrels per day. Crude oil prices:up 5-8% in past few days as continued Ukrainian drone strikes on Russian refineries, Iraqi plans to reduce oil exports in the coming months and Houthi attacks on ships in the Red Sea
Contemporary Amperex Technology Co., Ltd. (“CATL”) and NIO signed the framework agreement in Beijing. The two companies are set to carry out innovation in the R&D of long-life batteries according to the needs of NIO’s power swap. Shizhe Tzeng, NIO’s Vice President, and Huan Gao, CTO of CATL’s China E-Car Business Unit, signed the agreement on behalf of the two companies. Alan Zeng, NIO’s Senior Vice President and CEO of XPT, and Wei Zhu, Executive President of CATL’s Passenger Car Business Unit, attended the signing ceremony.
Usually the batteries of new energy vehicles (NEV) are under a warranty of eight years. From 2025 to 2032, battery warranties of nearly 20 million NEVs had or will run out, which leads users to issues including driving cars with unwarranted batteries, lifespan difference between the vehicle and the battery, and quite high battery replacement costs. Therefore, it has become a pressing task to address the life span issues of batteries.
With technological R&D and unique battery swap operations, NIO has set up the industry’s first battery lifecycle health operational system, covering the three major conditions affecting battery life: temperature, intensity and frequency. In the meantime, it has further extended the lifespan of swappable batteries through operations and dispatch based on big data, and been able to retain 80% of capacity after 12 years of use. In addition, with regards to battery R&D, NIO has significantly improved the calendar life and cycle life of batteries via research and development focusing on the intrinsic properties of anode and cathode materials as well as electrolyte. So far, NIO has developed full-stack R&D capabilities covering material synthesis, trial production of cells, system assembly, and validation and testing. It has obtained a total of 1,435 technology patents, among which 104 are related to battery lifespan.
CATL has developed core technologies, such as slow capacity attenuation, self-repairing Solid Electrolyte Interphase (SEI) film and lithium supplement, to extend the service life of vehicle batteries. In this cooperation, with the long-life technology for swappable batteries as a key focus, NIO and CATL will jointly carry out discussions, make technological breakthroughs and innovation, and promote product applications. CATL will also plan and develop battery systems of longer service lives for NIO’s upcoming models. The two companies aim to establish a long-term and win-win partnership via the technological cooperation in long-life batteries, with which NIO and CATL are about to accelerate the development and adoption of such technologies, so that more EV users can enjoy battery swap services of higher quality without concerning about the high replacement costs of unwarranted batteries or reduced vehicle residual value due to battery attenuation. Moreover, batteries of longer lifespan also help with the sustainable development of the society. . Read More
National Grid and Scottish and Southern Electricity Networks Distribution, in partnership with Electricity System Operator and Greater London Authority, have collaborated on an innovative new technical solution to unlock electricity network capacity in parts of West London.
Housing developments in parts of three London boroughs (Hounslow, Hillingdon and Ealing) have had their connection dates brought forward by the networks enabling ramped connections that deliver increased electricity supply over time. Project developments totalling 7800 homes have had their connection dates accelerated through this solution, equating to a total of 10.5 megavolt amperes of demand capacity.
In most cases, projects that were previously given connection dates into the 2030s now have a pathway to connect in the next 12-24 months, in line with developer timescales. This is part of a programme of work that began in July 2022 aimed at investigating immediate and long-term solutions to unlock network capacity in the area, following a significant upsurge in connection applications from large demand sources such as data centres. This solution means it is expected there will be sufficient capacity still available to connect more homes if and when they come forward in future, allowing them to progress in line with developers’ and local authorities’ plans to meet housing, commerce, and local low-carbon energy needs (e.g. EV charging points).
These solutions include new ways of modelling demand and new contracts at a distribution level, and an estimated 76MVA of network flexibility services which SSEN expects to contract in its London Boroughs by June 2024. These flexibility services will include battery storage and incentivising energy users to turn down demand at certain times to reduce the network ‘peaks’, usually early morning and evening. This will allow more projects to connect to the distribution network, ahead of network upgrades. Read More
The Secretary of State for Energy Security and Net Zero, Claire Coutinho, has granted a development consent order (DCO) for the Yorkshire GREEN Energy Enablement project, meaning National Grid has approval to begin construction to upgrade and reinforce the high-voltage power network near York, North Yorkshire.
Construction of the £400m project, due to start this summer, will allow more renewable and low-carbon energy to move onto the electricity grid and into homes and businesses, both in Yorkshire and further afield. This will help deliver the government’s net zero targets as well as enable a cleaner, more affordable, and more resilient energy system. Yorkshire GREEN is a Nationally Significant Infrastructure Project, and the first of seven onshore projects proposed by National Grid across England and Wales required to be consented through a DCO and is part of the Accelerated Strategic Transmission Investment (ASTI) framework established by Ofgem.
National Grid has been engaging with communities and local stakeholders on the project since 2020, including two rounds of public consultation and further localised targeted consultations. Feedback from local stakeholders, communities and wider consultees has helped shape the proposals, and we are committed to continuing this engagement as we work to ensure the project leaves a lasting legacy in its host communities.
Morrison Energy Services has been selected to deliver the new overhead line and existing overhead line refurbishment, Murphy will deliver two new substations in Overton and Monk Fryston, and Hyosung and Hyundai will supply transformers to the substations. . Read full article
Research into state-of-the-art monitoring systems for offshore cables and an initiative to support the decarbonisation of rural areas are among the National Grid-led innovation projects to be funded through the latest stage of Ofgem’s Strategic Innovation Fund (SIF).
Three projects across National Grid’s electricity transmission and distribution networks have secured almost £400,000 to fund feasibility studies as part of the SIF’s discovery phase, which backs the most promising innovations that could accelerate the net zero transition.
National Grid Electricity Transmission (ET) has been awarded £135,000 for one project – HIRE – that will research new ways to monitor the health of cables in future hybrid AC/DC networks, with a view to spotting issues in offshore links earlier and avoiding unplanned outages.
The project could come up with a new system to overcome current monitoring limitations associated with longer HVDC cable routes, boosting network reliability and ensuring maximum use of clean energy as grids become more and more interconnected using HVDC technology.
National Grid ET will also be collaborating on several other partner-led SIF-funded initiatives, notably with the electricity system operator (ESO) on a £150,000 project to create a model to help better understand the impact of future energy scenarios on the system.
Sean Coleman, Strategic Innovation Fund Manager at National Grid ET, said:
“These projects across our networks are exciting additions to National Grid’s wide-ranging innovation portfolio, and are great examples of how we’re thinking ambitiously and collaborating with partners across industry to support Britain’s net zero transition, while keeping costs down for consumers.”
National Grid Electricity Distribution (ED) has been awarded almost £260,000 for two projects.
The Rural Energy and Community Heat (REACH) project aims to help rural communities decarbonise quicker. Funding worth nearly £117,000 will enable ED to initially understand the priorities of community energy groups and also develop practical solutions so they can access low carbon technologies more quickly than alternative means. The REACH team will work with innovative suppliers to develop shipping container-sized rural energy centres. These prefabricated units will contain standardised equipment that can be easily sited within communities to enable the connection of heat pumps, electric vehicle chargers and renewable generation. Read full article
Dana Incorporated (NYSE: DAN) announced today it will participate in the BofA Securities 2024 Automotive Summit on March 26, 2024. Beginning at 3 p.m. EDT, About Dana Incorporated Dana is a leader in the design and manufacture of highly efficient propulsion and energy-management solutions that power vehicles and machines in all mobility markets across the globe. The company is shaping sustainable progress through its conventional and clean-energy solutions that support nearly every vehicle manufacturer with drive and motion systems; electrodynamic technologies, including software and controls; and thermal, sealing, and digital solutions.
Based in Maumee, Ohio, USA, the company reported sales of $10.6 billion in 2023 with 42,000 people in 31 countries across six continents. With a history dating to 1904, Dana was named among the “World’s Most Ethical Companies” for 2023 and 2024 by Ethisphere and as one of “America’s Most Responsible Companies 2023” by Newsweek. The company is driven by a high-performance culture that focuses on valuing others, inspiring innovation, growing responsibly, and winning together, earning it global recognition as a top employer. Read full article
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $81.85 | Down |
| Crude Oil (Brent) | USD/bbl | $86.00 | Down |
| Bonny Light | USD/bbl | $89.52 | Up |
| Saharan Blend | USD/bbl | $88.26 | Up |
| Natural Gas | USD/MMBtu | $1.69 | Down |
| Murban Crude | USD/bbl | $85.87 | Down |
| OPEC basket 19/03/24 | USD/bbl | $86.52 | Up |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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