Energy/Automotive News| WTI Crude $82.02/bbl, Brent $85.91/bbl, Natural Gas $1.72/MMBtu

London, 22 April 2024, (Oilandgaspress):- Tesla cut prices of three of its five models in the US late on Friday as the company faces falling sales, a Cybertruck recall and an intensifying war for electric vehicles (EVs). Tesla cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each. Model Y base variant is now $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively, according to its website and various media reports.. Tesla also reportedly cut the starting price of its Model 3 in China to 231,900 yuan ($32,000) on Sunday, a reduction of 14,000 yuan

The Chairman and CEO of TotalEnergies met with His Majesty Sultan Haitham bin Tariq Al Said and His Excellency Eng. Salim bin Nasser Al Aufi, Minister of Energy & Minerals, to reaffirm the long-term partnership between TotalEnergies and the Sultanate of Oman.

On the occasion of this visit, Patrick Pouyanné and Mr. Mulham Basheer Al Jarf, Chairman of OQ, the Oman National Oil Company, announced the Final Investment Decision (FID) of the Marsa LNG project.

TotalEnergies had signed a Sale and Purchase Agreement (SPA) with Oman LNG to offtake 0.8 Mtpa of LNG for ten years from 2025, making the Company one of the main offtaker of Oman LNG’s production.

Finally, TotalEnergies (49%) and OQ Alternative Energy (51%), the national renewable energy champion, have confirmed being at an advanced stage of discussions to jointly develop a portfolio of up to 800 MW, including the 300 MWp solar project that will supply Marsa LNG

Marsa LNG, an innovative integrated project

Through their joint company Marsa Liquefied Natural Gas (“Marsa”), TotalEnergies (80%) and OQ (20%) launch the integrated Marsa LNG project which combines:

upstream gas production: 150 Mcf/d of natural gas, coming from the 33.19% interest held by Marsa in the Mabrouk North-East field on onshore Block 10, which will provide the required feedstock for the LNG plant. Block 10 production started in January 2023 and reached plateau in April 2024. The FID allows Marsa LNG to extend its rights in Block 10 until its term in 2050.
downstream gas liquefaction: a 1 Mt/y capacity LNG liquefaction plant will be built in the port of Sohar. The LNG production is expected to start by first quarter 2028 and is primarily intended to serve the marine fuel market (LNG bunkering) in the Gulf. LNG quantities not sold as bunker fuel will be off-taken by TotalEnergies (80%) and OQ (20%).
renewable power generation: a dedicated 300 MWp PV solar plant will be built to cover 100% of the annual power consumption of the LNG plant, allowing a significant reduction in greenhouse gas emissions.
Setting very low carbon intensity standards for the next generation of LNG plants

The Marsa LNG plant will be 100% electrically driven and supplied with solar power, positioning the site as one of the lowest GHG emissions intensity LNG plants ever built worldwide, with a GHG intensity below 3 kg CO2e/boe. (for reference, the average emission intensity of LNG plants is around 35 kg CO2e/boe – this represents a reduction in emissions of more than 90%).

The main Engineering, Procurement and Construction contracts have been awarded to Technip Energies for the LNG plant and to CB&I for the 165,000 m3 LNG tank.

The Marsa LNG project will generate long-term employment opportunities and significant socio-economic benefits for the city of Sohar and the region.

The first LNG bunkering hub in the Middle East

The ambition of the Marsa LNG project is to serve as the first LNG bunkering hub in the Middle East, showcasing an available and competitive alternative marine fuel to reduce the shipping industry’s emissions. Compared to conventional marine fuel, LNG helps to cut:

Greenhouse gas emissions by up to 23%,
Nitrogen oxide emissions by up to 85%.
Sulfur emissions by 99%,
Fine particle emissions by 99%. Read More

The Nigerian National Petroleum Company Limited (NNPC Ltd) and its Joint Venture partners in OML 18 – the Nigerian Content Development & Monitoring Board (NCDMB), Shell Nigeria Exploration and Production Company (SNEPCo), Total Energies EP Nigeria Ltd, Nigerian Agip Exploration Ltd, and Esso Exploration and Production Nigeria (Deepwater) Ltd – have donated a 2,300-seater state-of-the-art digital library to the Niger Delta University, Wilberforce Island, Amassoma, Bayelsa State.

The digital library, a two-storey complex equipped with cutting-edge Information Technology amenities including 100 computer systems, e-learning and research facilities, interactive smart boards, projectors, camcorders, e-books, e-journals, e-learning portal, and reading halls, was handed over to the school authority on Thursday in Bayelsa State.

Other facilities in the library include Wi-Fi Lounge, print and document hall, video and audio recordings, photography and online education centre, e-distant learning hall, Chief Librarian and departmental offices, IT rack room, newspaper archive, stack room for new arrivals, and conveniences.

The library complex is also equipped with a 500KVA power generator, a 500KVA transformer, a dedicated water borehole fitted with water purification facilities.

The e-library is designed to promote ICT education and provide a conducive learning environment for students and researchers in the school to keep them abreast of global IT practices and advancement.. Read More

Kia’s partnership with the NBA, Kia proudly announces a new realm of self-expression through its Digital Features and Services platform[1], tailored specifically with NBA basketball fans in mind.

Kia will begin rolling out the over-the-air updates for Display Themes to EV9 beginning April 9, and ahead of the playoffs starting April 20, owners of the 2024 Kia EV9 can personalize the vehicle’s driver-facing 12.3-inch instrument cluster and the AVN (Audio, Video and Navigation) screen with the distinctive colors and logos representing each of the NBA’s 30 iconic teams[2]. In the future, other Kia vehicles equipped with the ultramodern Connected Car Navigation Cockpit (ccNC) infotainment system with Digital Features and Services OTA capability[3] are expected to also be able to access the NBA themes. Whether it’s the iconic blue and golden yellow for the Golden State Warriors, or red, black and white for the Chicago Bulls, diehard fans can proudly showcase their unwavering loyalty to their favorite NBA team with a customized instrument cluster and infotainment screens, along with unique welcome and goodbye videos for select EV9 trims[4]. As the first Kia to unlock the ability to remotely upgrade performance, entertainment, and more with OTA capability, the 2024 EV9 will initially offer the NBA display themes before they’re rolled out to other Kia models with the latest ccNC infotainment system. The NBA display themes will be available for purchase for $39.99 for each team via the Kia Connect Store’s Digital Features and Services, which is accessed through the Kia Access app or the Kia Owner Portal. Read More

.Mercedes-Benz, Mercedes-AMG and ic! berlin are continuing their successful cooperation which began in 2020. The eight new timelessly elegant premium models combine the styling and lines of Mercedes-Benz with the expressive aesthetics of Mercedes-AMG. Available as either prescription glasses or sunglasses, they are made by hand in the ic! berlin manufactory.

The MB models are inspired by the design idiom of Mercedes-Benz vehicles. Puristic lines, flowing contours and high-quality materials characterise the four pairs of prescription glasses and sunglasses in this collection. The range of colours extends from discreet to elegant, with highlights in the iconic Mercedes-Benz colours. The AMG models combine sophisticated aesthetics with precise dynamics. They are available in exciting colour combinations and strikingly coloured lenses such as Crocus and Ultraviolet, but also in timeless versions such as Black or Venice Green. A particular highlight of two models is the innovative FLEXARBON® carbon fibre, which is designed based on the carbon-fibre appointments seen inside Mercedes-AMG vehicles; it ensures ultra-lightweight comfort and unparalleled durability.

The new eyewear collection comprises the following eight models:. Read More

Mercedes-Benz is once again expanding its commitment to victims of the Russian war of aggression against Ukraine: Over the next three years, the company will donate a total of six million euros to “SOS-Kinderdörfer weltweit” for the “Rebuilding Hope” project. The company has already provided two million euros for the initiative since 2022. In addition to the construction of a social center, medical care and the distribution of hygiene articles and food, the initiative focuses on trauma education. The aim is to alleviate the serious consequences of the war for children, young people and families in the regions around Bucha and Kyiv. The support includes special educational programs and the creation of child-friendly spaces. “With this new donation of six million euros, we want to make a long-term contribution to alleviating the suffering caused by the war of aggression in Ukraine. “SOS-Kinderdörfer weltweit” is an experienced and locally well-connected organization that in particular helps children and their families with the “Rebuilding Hope” project. For Mercedes-Benz, supporting the people of Ukraine is a question of attitude.”
Renata Jungo Brüngger, Member of the Board of Management of Mercedes-Benz Group AG, Integrity, Governance & Sustainability Read More

Porsche created its Car-IT department in late 2023 to advance digitalization to a whole new level in collaboration with Research and Development. Integrating the new department is really no different from developing future sports cars, because connection is everything..Hardware and software, steel and electronics, tradition and future—elements that complement one another and ideally form a single unit. Michael Steiner and Sajjad Khan are two members of the Porsche AG Executive Board in charge of two departments with a shared vision. “It’s ultimately all about creating a harmonious product,” says Steiner. “Vehicles with that unmistakable Porsche DNA inspiring our customers time and time again.” Khan adds: “Our traditional virtues and abilities form the core of our brand. But we’re also expanding these to include innovations from the digital world.”

Connectivity and infotainment
That’s precisely why Sajjad Khan was appointed to the Board in November 2023. As head of the newly created Car-IT department, he’s primarily responsible for connectivity and infotainment. His team also focuses on integrating the ecosystems of third parties and developing digital vehicle solutions such as the My Porsche app. “Software is changing every aspect of our lives,” Khan explains. “Even household appliances are now an everyday element of the Internet of Things. More and more, the car itself is actually a component in a larger network.” It’s a component, however, with a highly emotional, practical value. “The driving experience takes center stage at Porsche.” That’s something Khan himself experiences on a daily basis, as his company car is a 911 Turbo S. Read More

Drone prototype in use for the first time In Nazaré, the drone prototype from the joint technology project between Team Steudtner and Porsche Engineering was used. This project involves the development of a measuring drone that is intended to determine the height of waves quickly and precisely. Until now, video footage and still images were analyzed for these types of measurements. The prototype from Porsche Engineering and Team Steudtner is equipped with cameras, control units and storage devices. In addition, sensors from vehicle development are used, which support modern driver assistance systems. The device can measure all areas of the wave and the surfer within a radius of about 100 metres.

“We are very pleased to have created an innovative solution that can advance the sport of surfing. It was a challenge to develop a drone that can measure not only the height of the waves but is also capable of tracking the surfer within the radius throughout the entire wave ride,” says Marcus Schmelz, Project Manager at Porsche Engineering. The official confirmation of new world records is the responsibility of official sports governing bodies. “We are open to share our technical insights from the drone development with official experts. Our goal is to further increase transparency in big wave surfing and to provide accurate measurement data more quickly,” Schmelz continues.. Read full article

Renault enhances its distribution network with a new concept point-of-sale format called ‘rnlt©’. A name that reflects this new type of distribution: modern, compact, a true condensed of the brand. These new stores will provide visitors a comprehensive experience of the Renault brand and its products.

A brand-new immersive experience
As a showcase for the brand, rnlt© concept stores will be placed in hyper downtown and large shopping centres. Their prime location as close as possible to urban consumers, guarantees optimal accessibility and maximum visibility, allowing these potential customers to discover the latest Renault models and innovations.

In this compact space, with its smaller dimensions than classic Renault showrooms, every detail has been meticulously thought out to offer a total immersion into the Renault universe. It is a place where technology meets passion, where visitors can see new products and immerse themselves in the brand’s captivating universe, in a welcoming place that combines innovation and design. Visitors will get to explore two or three of the brand’s flagship vehicles put on display.Each store will also feature a selection of The Originals Renault merchandise such as model cars, clothing, and accessories. Ideal for a gift, to add a flash of Renault to your outfit, or simply take home your own piece of the brand or your favourite car.. Read full article

The State Energy Portal provides access to state- and region-level U.S. energy data with interactive, customizable views of more than 150 charts, tables, and maps that display more than 1,700 data series. We updated Analyses and Quick Facts for four states. The new facts include:

• Alaska ranks fourth in the nation in natural gas gross withdrawals, most of which are reinjected into oil fields to help maintain crude oil production rates.

• In 2023, solar power provided about 19% of Hawaii’s total electricity, the majority of which was from small-scale, customer-sited solar power generation. In 2023, Hawaii had the 11th most small-scale solar generation among the states.

• In 2023, wind energy produced 15% of Oregon’s total electricity net generation, and the state had almost 4,000 megawatts of installed wind-powered generating capacity.

• By capacity, the Grand Coulee Dam on Washington’s Columbia River is the largest power plant in the United States and the ninth-largest hydroelectric power plant in the world. In 2023, it supplied about 15.6 million megawatthours of electricity to 8 western states and parts of Canada. Read full article

Africa Oil Corp. announced that the Company repurchased a total of 1,225,600 Africa Oil common shares during the period of April 15, 2024 to April 19, 2024 under the previously announced share buyback program.
The launch of Africa Oil’s normal course issuer bid (share buyback) program, announced by the Company on December 4, 2023, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbour Regulation) and the applicable rules and policies of the Toronto Stock Exchange (“TSX”), Nasdaq Stockholm, and applicable Canadian and Swedish securities laws.
During the period dated April 15, 2024 to April 19, 2024, the Company repurchased 455,600 Africa Oil common shares on the TSX and/or alternative Canadian trading systems. The repurchases were carried out by Scotia Capital Inc. on behalf of the Company. During the same period, the Company repurchased 770,000 Africa Oil common shares on Nasdaq Stockholm, and these repurchases were carried out by Pareto Securities on behalf of the Company. Read More

Tire Recycle

Neste successfully concludes its first processing run with pyrolysis oil from discarded tires
In its efforts to advance chemical recycling, Neste has successfully conducted its first processing trial run with a new challenging raw material, liquefied discarded tires. In the processing run, Neste produced high-quality raw material for new plastics and chemicals.
For the processing run, Neste sourced pyrolysis oil derived from discarded vehicle tires by Scandinavian Enviro Systems, a Swedish company developing technologies to recover materials from end-of-life products. The goal of Neste’s pilot run was to evaluate the potential of chemical recycling beyond plastic waste to potentially broaden the pool of waste streams that could be processed into high-quality products.
Just as with hard-to-recycle plastic waste, a large amount of tires today ends up in landfills or incineration at the end of their life cycle. The composition of tires as a mix of several materials makes them difficult to recycle with mechanical recycling methods. Hence, there is a strong case for using chemical recycling to help keep valuable materials in circulation – and Scandinavian Enviro Systems has developed a pyrolysis technology for extracting carbon black and oil from end-of-life tires. Read More

Hyundai Motor Company launched the world’s first application of Nano Cooling Film, a revolutionary vehicle window tint that offers a significant improvement in interior cooling performance compared to conventional tint films.
Nano Cooling Film maximizes heat dissipation by incorporating a nanostructure with excellent heat transfer characteristics. This innovative transparent film is expected to be more effective in hot and dry climates, as the cooling effect is optimized at higher outdoor temperatures.
To prove its effectiveness in a real-world application, the company today launched a ‘Made Cooler By Hyundai’ campaign, applying the film to 70 customer vehicles in Lahore, Pakistan, where daily summer temperatures can top 50°C.
Nano Cooling Film surpasses conventional tint films in its ability to block heat while maintaining high transparency and unobstructed vision. Unlike dark tint shades that can negatively impact nighttime visibility and release absorbed heat into the vehicle, Nano Cooling Film effectively blocks external heat energy and emits internal radiant heat to the outside. This is achieved through its unique composition of three layers that selectively block or emit specific wavelengths of solar heat.
The film’s outer layer radiates heat at mid-infrared wavelengths from the interior of the vehicle to the exterior, while the inner two layers reflect incoming heat at near-infrared wavelengths, reducing the total amount of heat that reaches the inside of the vehicle.
Moreover, Nano Cooling Film can be applied in tandem with conventional tint films in countries where car tints are less regulated. If regular tint films are added on the back side of the Nano Cooling Film, the overall heat reflection and radiation are enhanced, resulting in greater cooling effects.
Made Cooler By Hyundai’ campaign launches in Pakistan
Hyundai Motor today applied its exclusive Nano Cooling Film on 70 customer vehicles in Lahore, Pakistan as part of the ‘Made Cooler By Hyundai’ campaign. Hyundai Motor selected the Lahore market to introduce its transparent Film, as attaching tinted film to vehicle windows is prohibited for security reasons in Lahore. Nano Cooling Film reduces the interior temperature by over 10°C without darkening the windows and complies with local laws.
This innovative solution aims to provide relief to local drivers who face the challenges of scorching summer heat exceeding 50°C and high energy costs. The application of the film is offered at no cost to these customers, demonstrating the company’s commitment to improving the driving experience in hot climates.
The campaign aims to show that Nano Cooling Film effectively controls the vehicle’s interior temperature to greatly improve driving comfort and reduce energy consumption caused by excessive use of air conditioning.
Hyundai Motor plans to use empirical data from this pilot campaign to ensure quality and enter mass production of the film in the future. Read More

Hyundai Motor Company is pleased to announce its continued support for the Korean Pavilion at the 60th International Art Exhibition – La Biennale di Venezia. Hyundai Motor has been the lead supporter of the Korean Pavilion since 2015, supporting five consecutive exhibitions over the past decade. Read More

Jaguar Land Rover Automotive plc (“JLR”) and its parent company Tata Motors Limited (“TML”) will be releasing results for the quarter and year ended 31 March 2024 on Friday 10 May. TML will be holding an investor call from 2pm BST (UK time) on Friday 10 May with a presentation on the TML Group results (including JLR results) for the quarter ended 31 March 2024, followed by a Q&A session.

JLR bondholders are welcome to join the TML call and to participate in the Q&A.

JLR will also hold a separate call on JLR results on Friday 10 May at 4pm BST (UK time) for JLR bond investor and analyst specifically interested in JLR. Read More

APA Corporation provided supplemental information regarding certain first-quarter 2024 financial and operational results. This information is intended only to provide additional information regarding current estimates management believes will affect results for the first-quarter 2024. It is provided to assist investors, analysts and others in formulating their own estimates, and is not intended to be a comprehensive presentation of all factors that will affect first-quarter 2024 results. Actual results and the impact of factors identified here may vary depending on the impact of other factors not identified here and are subject to finalization of the financial reporting process for first-quarter 2024. Read more

APA Corporation announced updates to its executive leadership team to coincide with a restructuring of its development function and the integration of the recently closed acquisition of Callon Petroleum. The changes are effective immediately. Steve Riney, president and chief financial officer, will now oversee asset development functions, including the asset teams, Planning and Land in addition to continued oversight of finance functions. Restructuring the development function and its reporting will enable stronger alignment across development teams and financial functions. Riney was promoted to president and CFO in January 2024. Previously, he served as CFO since joining the company in 2015. Dave Pursell, executive vice president, Development, has left the company as a result of this restructuring.Ben Rodgers has been named senior vice president, Finance and treasurer reporting to Steve Riney. In this new role, he will lead Market Strategies, Treasury, Accounting and Tax. Rodgers joined APA in 2018 and previously served as SVP, treasurer, midstream & marketing. During his tenure with the company, he also served as the CFO of Altus Midstream and later served as director on the board of Kinetik Holdings Inc. He currently serves on the board of Khalda Petroleum Company, a joint venture between APA subsidiary Apache Corporation and Egypt Petroleum Company.

Castlen Kennedy has been promoted to senior vice president, Corporate Affairs and Marketing reporting to Mark Maddox, executive vice president, Administration. In this role, she will continue to oversee Corporate Communications, Government Affairs and Community Partnerships, and will add oversight of Oil & Gas Marketing, Business Excellence and Egypt JV business support. Kennedy joined the company in 2006 and has held various roles of increasing responsibility in government and community affairs, investor relations and communications. Read More

Subsea 7 S.A. announced that, on 19 April 2024, Barclays Capital Securities Limited1 informed the Company that it had breached thresholds provided for by Luxembourg’s Transparency Law of 11 January 2008 on transparency requirements for issuers of securities as amended (the “Transparency Law”) as follows:
15 April 2024
• On 15 April 2024 the total number of voting rights in the Company according to Article 8 and 9 of the Transparency Law attached to shares held by Barclays was 22,559 representing less than 0.01% of the voting rights in the Company
• On 15 April 2024 the total number of voting rights in the Company attached to financial instruments with similar economic effect according to Article 12 (1) (a) of the Transparency Law (right to recall) were 14,625,242 representing 4.80% of the voting rights in the Company
• On 15 April 2024 the total number of voting rights in the Company attached to financial instruments with similar economic effect according to Article 12 (1) (b) of the Transparency Law (swaps) were 572,734 representing 0.18% of the voting rights in the Company
• When combined, the above positions equate to 5.00% of voting rights of Subsea 7 S.A. Read More

Neste and New Jersey Natural Gas (NJNG), the principal subsidiary of New Jersey Resources, look to reduce greenhouse gas (GHG) emissions with Neste MY Renewable Diesel™. Expanding on its sustainability leadership, NJNG announced it is switching its medium-duty trucks and associated equipment to renewable diesel to help reduce GHG emissions. NJNG is now the first natural gas utility on the East Coast to use this cleaner fuel for its fleet operations.
“We are excited to help New Jersey Natural Gas reduce their fleet emissions with renewable diesel. Innovative companies, like NJNG, are paving the way towards a larger-scale transition to renewables and a cleaner energy future,” says Carrie Song, Senior Vice President, Commercial, Renewable Products at Neste. “This partnership demonstrates the increasing demand for lower-emission fuels across the entire nation. We look forward to helping other businesses in the state effectively reduce greenhouse gas emissions.”
When using Neste MY Renewable Diesel – made from sustainably sourced, 100% renewable raw materials – GHG emissions can be reduced by up to 75%* over the fuel’s life cycle compared to fossil diesel. Additionally, since Neste’s renewable diesel is compatible with all diesel engines, NJNG is able to seamlessly transition to this fuel without the need for new infrastructure or investment into fleet modifications.
Approximately 70 medium-duty trucks in NJNG’s fleet now run on renewable diesel. These vehicles will account for over 57,000 gallons (168 tons) of renewable diesel which can help reduce GHG emissions by up to 550 tons* annually compared to the use of fossil diesel. It equals to the annual direct GHG emissions from more than 120** passenger vehicles according to the EPA Greenhouse Gas Equivalencies Calculator.

Neste will publish its first quarter 2024 results on Thursday, 25 April 2024 at approximately 9 a.m. (EET). Read More

Oil and Gas BlendsUnitsOil Price US$/bblChange
Crude Oil (WTI)USD/bbl$82.02Down
Crude Oil (Brent)USD/bbl$85.91Down
Bonny LightUSD/bbl$88.69Down
Saharan BlendUSD/bbl$88.05Down
Natural GasUSD/MMBtu$1.72Down
Murban CrudeUSD/bbl$86.27Down
OPEC basket 18/04/24USD/bbl$87.52Down
At press time 22 April 2024

Two Just Stop Oil supporters have been forcibly ejected from Earth-Fest whilst collecting donations for Just Stop Oil. The supporters were asking attendees to financially support effective direct action whilst donations to Just Stop Oil are doubled for the next three days.
Earth Fest has been criticised for being a ‘green-washing’ event with sponsors including Auto-Trader and attendees including JP Morgan, Jet 2 and Drax.
Mack Preston, 20, and Isla Greenwood, 29, a former Greenpeace fundraiser, carried buckets asking for donations whilst wearing Just Stop Oil t-shirts. The pair took to a megaphone and could be heard saying “Are we really going to sit here and talk about electric cars? We need radical action!”
Just Stop Oil has been taking action since 2022 to demand the UK government and both major political parties commit to ending oil and gas use by 2030. For the next three days, until earth day, all donations to Just Stop Oil will be doubled by a group of generous donors. Read full article

EST-Floattech is proud to announce that KOTUG International B.V. (“KOTUG”), the leading international towage and maritime company, has chosen EST-Floattech’s containerized energy storage solution with Octopus Series for the E-Pusher 1 (Type M). On board the world’s first fully electric pusher boat is a container with the battery system of EST-Floattech, supporting the vessels every energy need. The E-pusher Type M is an innovative, emission-free pusher that transports cargo on the inland waterways, this design revolutionizes the way energy is stored and distributed in the maritime industry. The E-Pusher 1 transports cocoa beans for Cargill from the Port of Amsterdam to Zaandam

EST-Floattech’s team has been working on the custom built containerized solution with Octopus High Energy modules. Starting out as a sparring partner to define the amount of energy needed for the propulsion and auxiliary systems, to designing the custom built containerized solution. The container has been designed and constructed in a little over half a year, thanks to the new production facilities for the Octopus Series. In those months we have been in close cooperation with KOTUG, Padmos (builder of the E-Pusher commissioned by KOTUG), Sea and Shore, and Gebhard Electro to realise the Octopus Series container which will provide reliable, emission-free power for the E-Pusher, that has been delivered to Cargill. The container is ESTRIN-Certified, testifying the to the robustness and safety of this maritime battery system.

This containerized solution provides the energy that allows the E-Pusher to make about three trips from Zaandam to Amsterdam and back. Picking up and pushing the cocoa beans to the Cargill facilities. When at the Cargill facilities in Zaandam the Octopus Series Container will be charged three times per week with green energy.

Our technical engineers specifically designed the battery solution inside this container based on the sailing profile of the E-Pusher for Cargill, creatin a container with a capacity of 2MWh. This customized containerized solution and the emission-free sailing of the E-Pusher make a big difference. Starting with the people who live along the route, they no longer have noise or smell pollution. Emission-free sailing is also important for the scenic environment along the route. For the captain, it offers benefits as well: they no longer sit in the smell, there is no noise pollution from the engine, and it sails smoothly and fast. Read more

KBR will provide technology licensing and proprietary engineering design for a 250 KTA phenol plant at SABIC’s Fujian Petrochemical Complex. The final investment decision for this project was announced in January 2024 with expected completion in FY 2026. KBR’s phenol technology offers a sustainable and differentiated solution through reduced energy consumption and improved yields.

“We are excited to offer our industry leading phenol technology to SABIC Fujian for this ambitious project in China,” said Jay Ibrahim, President, KBR Sustainable Technology Solutions. “KBR’s market-leading phenol technology increases our customers’ competitive advantage and advances their sustainability objectives through superior efficiency, reliability, wastewater recovery and performance.” Read full article

The annual general meeting of Equinor ASA will be held 14 May 2024 at 15:00 CEST.

The annual general meeting will be held in Equinor Business Center, Forusbeen 50, 4035 Stavanger for those attending in person and via Lumi AGM for those attending digitally. Voting will be carried out electronically via Lumi AGM both for shareholders attending in person and attending digitally.

It is also possible to vote in advance or give proxy. Please see detailed information under “Participation” in the notice of the annual general m Read full article

TotalEnergies has signed an agreement with Sapura Upstream Assets Sdn Bhd (SUA) to acquire its 50% interest in Malaysian independent gas producer and operator SapuraOMV Upstream Sdn (SapuraOMV) for a consideration of $530 million, subject to closing adjustments. Closing is expected in the second half of 2024.

This agreement follows a first agreement signed with OMV on January 31st, 2024, for the acquisition of its 50% interest in SapuraOMV.

After completion of both transactions, which are subject to some conditions precedent, in particular regulatory approvals, TotalEnergies would own 100% of SapuraOMV.

SapuraOMV’s main assets are its 40% operated interest in block SK408 and 30% operated interest in block SK310, both located offshore Sarawak in Malaysia. In 2023, SapuraOMV’s operated production (100%) was about 500 Mcf/d of natural gas, feeding the Bintulu LNG plant operated by Petronas, as well as 7 kb/d of condensates. On block SK408, the development of Jerun gas field is on track for a startup in the second half of 2024. SapuraOMV also holds interests in exploration licenses in Malaysia, Australia, New Zealand and Mexico, where a discovery was made in 2023 on block 30.

“Following the transaction with OMV announced two months ago and this new transaction with Sapura Upstream Assets, TotalEnergies will have full ownership of SapuraOMV and become a significant gas operator in Malaysia,” said Patrick Pouyanné, Chairman and CEO of TotalEnergies. “The SapuraOMV assets are fully in line with our strategy to grow our gas production to meet demand growth, focusing our portfolio on low-cost and low-emission assets. We look forward to strengthening our global partnership with Petronas in Malaysia Read full article

Baker Hughes Rig Count: : U.S. +2 to 619 Canada -14 to 1271
U.S. Rig Count is up 2 from last week to 619 with oil rigs up 5 to 511, gas rigs down 3 to 106 and miscellaneous rigs unchanged at 2.
Canada Rig Count is down 14 from last week to 127, with oil rigs down 10 to 60, and gas rigs down 4 to 67.

International Rig Count is up 13 rigs from last month to 971 with land rigs up 1 to 736, offshore rigs up 12 to 235.

The Worldwide Rig Count for March was 1,793, down 20 from the 1,813 counted in February 2024, and down 86,from the 1,878 counted in March 2023.

RegionPeriodRig CountChange
U.S.A19 April 2024619+2
Canada19 April 2024127-14
InternationalMarch 2024971.+13
Baker Hughes


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