Energy/Automotive News| WTI Crude $84.77/bbl, Brent $88.48/bbl, Opec $87.33/bbl

London, 02 April 2024, (Oilandgaspress):- Chevron has launched its 2024 drilling campaign by drilling the first of 17 planned wells as part of a plan to boost production, the other owner of the joint venture, Venezuela’s state oil firm PDVSA, said in statement on Monday.

Petroindependencia, the joint venture of PDVSA and Chevron, launched the first new well from this year’s drilling campaign. Chevron has U.S. authorization to operate in Venezuela with its joint ventures with PDVSA, while the U.S. Administration also currently allows exports and trade of Venezuelan crude oil under sanctions relief until April 18. Read More

PDVSA Petroindependencia, SA, a subsidiary of the Venezuelan Petroleum Corporation, SA (CVP), commissions the first new generation well within the framework of the 2024 Drilling Campaign.

The EDV-43 drill began work in the month of February 2024, in the Carabobo 2 Block of the Hugo Chávez Orinoco Oil Belt (FPOHCH), complying with the operational plan drawn up by the mixed company, according to the instructions of the Minister of Popular Power of Petroleum and president of PDVSA, Pedro Rafael Tellechea, to increase production to achieve the goals set for 2024.

The CMI14 well, the first of 17 contemplated in this year’s business plan, represents an important milestone for the increase in production of this joint venture, under the premise of operational excellence.

This operational achievement of PDVSA Petroindependencia, working as a single team, ratifies the commitment to promote the rebirth of the nation’s main industry, providing the barrels of crude oil necessary for the well-being of the Venezuelan people, complying with the industry’s recovery plan. oil company of the president of the Bolivarian Republic of Venezuela, Nicolás Maduro Moros. Read More

Formula E debut in Tokyo
Porsche and TAG Heuer add some glitz to the glamour: the new design on the Porsche 99X Electric race cars, which Pascal Wehrlein and António Félix da Costa will drive exclusively at the Tokyo E-Prix, will be unveiled at an event in the chic Terrada Warehouse.With the new exclusive look of its Porsche 99X Electric, Porsche and TAG Heuer are creating a distinctive highlight at the inaugural Formula E race in Japan. This unveiling marks a celebration of their long and successful partnership. The unique livery of the electric racing cars developed at the net-carbon-neutral Weissach facility pays a visual homage to Tokyo with its world-famous neon signs at night and to Japanese street art and car culture. Read More

In his Porsche 99X Electric, Pascal Wehrlein has moved into the lead of the ABB FIA Formula E drivers’ world championship. At the Formula E premiere in Tokyo, the Porsche works driver crossed the finish line in fifth place. His teammate António Félix da Costa narrowly missed his first podium finish of the season in fourth place. Four Porsche 99X Electric made it into the top 6.In addition to its strong team performance, Porsche and TAG Heuer added another highlight to the first Formula E outing in Japan: Pascal Wehrlein and António Félix da Costa’s Porsche 99X Electric race cars were decked out in an exclusive one-off look. The special pink-coloured livery paid a visual homage to Tokyo with its world-famous neon signs at night and to Japanese street art and car culture. Read More

Porsche AG and Applied Intuition, a Silicon Valley-based vehicle software supplier, announced a strategic partnership . The common goal is the joint development in different fields of automotive software while maintaining software ownership and reducing dependencies on black-box suppliers. This reduces complexity and increases implementation speed. The partnership helps Porsche utilize expertise to develop, deploy, and update vehicle software to provide unique consumer experiences.

“Applied Intuition has been an important software partner for us and will help us to better understand software in every part of the vehicle. Testing may then be done software-based and earlier in the development process. With that, we can iterate faster and focus on building the best possible consumer experiences,” said Michael Steiner, Member of the Executive Board Research and Development of Porsche AG. “This additional cooperation will strengthen Porsche’s software know-how, complementing and supporting activities within the Volkswagen Group.” Porsche will use the solution along with software best practices and continuous integration/continuous deployment (CI/CD) processes to deploy and manage software to future vehicles through an off-board platform. A professional set of tools supports the end-to-end software validation, ranging from software-in-the-loop (SIL) to hardware-in-the-loop (HIL) and vehicle testing. The collaboration with Applied Intuition has enabled Porsche to design the software of its future vehicles with specific customer solutions and integrates seamlessly into Porsches successful value-enhancing investments into technology. Read More

The all-electric Macan celebrates its world premiere in Singapore – the green megacity is the perfect backdrop for a pioneering vehicle. It brings together tradition and innovation, economic growth and sustainable urban design.On the day of the world premiere, the rain subsides and darkness descends upon the Gardens by the Bay. The premiere guests from around the world await the proceedings with bated breath. Music and light effects bring Marc Fornes’ art installation to life; flashes of light flicker across the sculpture’s surface – and the Macan 4 and Macan Turbo roll out of their garage, accompanied by epic music. The Macan 4 in the new design color Provence and the Turbo in Ice Grey Metallic. Porsche power against the backdrop of the iconic Marina Bay Sands hotel. The hotel’s three 55-story towers are crowned at a height of approximately 200 meters by a 340-meter-long rooftop garden that extends across the high-rise buildings like a surfboard and includes an infinity pool. “This place proves that change is possible,” says Porsche Chairman of the Executive Board Oliver Blume. “A jungle in the midst of the city. Renewable energies. You simply have to embrace the idea and get stuck in.” This is precisely what Porsche is doing as it brings one of its top sellers, the Macan, into the age of electric mobility.

The developers worked on the model with passion and perfectionism: “We are lifting the Macan to an entirely new level,” says Blume. “With exceptional e-performance, the new driver experience, and expressive design.” Sporty, tenacious, elegant – the all-electric model fits well with the meaning of the name Macan, the Indonesian word for “tiger.” Read More

The Alfa Romeo Giulia Quadrifoglio has been awarded the title of “Sedan of the Year” by Top Gear Hong Kong, one of the biggest international publications in the industry and a benchmark in the automotive landscape. A symbol of Alfa Romeo’s sporty attitude since its debut, the Giulia Quadrifoglio has set the benchmark for driving pleasure and performance in the sports sedan segment. The prestigious magazine rewarded not only the comfort and technical refinement of the car, but above all the memorable and exciting driving experience offered by the Giulia Quadrifoglio, setting it apart from its competitors. Top Gear Hong Kong praised the captivating, sensual character of the sedan; like a seductress, it inebriates its suitors, and surprises for its power and how much fun it is to sit behind its wheel. Fitted with a 2.9-liter V6 engine, the Giulia Quadrifoglio offers best-in-class driving dynamics and an intoxicating sound, especially in Race mode. Top-of-the-line handling, astonishing agility and perfect balance let it push its limits with confidence, while the design choices have made it a car with an elegant and elusive appeal.

The prestigious title awarded by Top Gear Hong Kong is a major sign of international recognition and serves as further confirmation of the profound passion that binds fans and experts from all over the world to the brand of noble Italian sportiness. Read full article

Over the course of 2024, DS Automobiles models will adopt a new, more compact range structure, based around two trim levels christened PALLAS and ÉTOILE. The aim is to provide greater clarity to highlight the key features of these models rooted in a legacy that’s consistent with the brand.

Thanks to this new range, customers will have access to the best savoir-faire of the Brand available through two very expressive versions, offering equipment levels that meet their expectations. Inspired by the Palace accolade that’s awarded to the most luxurious five-star hotels, the PALLAS name returns to DS Automobiles.

A historic specification from yesteryear’s DS, Pallas was introduced in 1964. Sixty years later, it is back with the same goal: to reflect French expertise. Introduced as a new version, the “Pallas” was at the time “intended to satisfy the aspirations of the most demanding customers”. Distinguished by tremendous attention to detail, it remains a benchmark signature of historic DS. For its return to the range, Pallas retains its initial ambition, with comprehensive equipment perfectly tailored to each of the different models’ segments. Read full article

On its 75th anniversary, Abarth gives a special gift to its community and reveals three unedited pictures of the New Abarth 600e Scorpionissima: the most powerful Abarth ever, equipped with 240 HP, Mechanical Limited Slip Differential, and racing contents. Appealing is the perfect definition for the interiors of the New Abarth 600e Scorpionissima: the dashboard fascia enriched with Abarth graphics, exclusive pattern, and a dark environment are some of the features of the mysterious cabin embellished with details such as the threatening Scorpion on the steering wheel or the colored stitching. The racing soul of the Abarth 600e Scorpionissima is expressed by specific dedicated seats with racing inspiration and a sporty steering wheel with leather and Alcantara® inserts, enhancing the coolness and sportiness of the car. The internal design also features the tunnel pad cover for extra storage space in the cabin, the ambient light to emphasize the enigmatic interiors, and a 10-inch radio NAV to maximize entertainment during the life on board. The infotainment system with Abarth specific graphics provides the driver with performance measurement pages and a dedicated section to easily switch on and off the unmistakable Abarth’s sound provided by the Sound Generator: these features confer uniqueness to this aggressive vehicle in terms of connectivity and pleasure of the drive. Read full article

Neste secures safe and undisrupted operations at its refineries with regularly scheduled maintenance shutdowns, i.e. major turnarounds. At Neste’s refinery in Porvoo, Finland, the preparations for the major turnaround taking place in April-June began on 1 April with shutdowns of process units. After the refinery shutdown is completed, the actual turnaround works will begin in mid-April and are expected to continue until mid-May. The estimated duration of the turnaround is approximately nine weeks.

During the major turnaround, the entire Porvoo refinery will be shut down for statutory inspections, maintenance works and asset improvement initiatives. In addition, the turnaround will contribute to Neste’s ambition to make the Porvoo refinery the most sustainable refinery in Europe by 2030 and to reach carbon-neutral production by 2035. The major turnaround does not affect Neste’s harbor and distribution terminal operations.

Major turnaround temporarily increases the number of people in the refinery area Read full article

EACOP Ltd has achieved another key milestone on the construction stage of the East African Crude Oil Pipeline Project (EACOP Project) by officiating the inauguration of Thermal Insulation Plant (TIS Plant) constructed and operated by one of EACOP Ltd Level One Contractors, WASCO ISOAF which is a joint venture of local and foreign companies. The TIS Plant receives all line pipes to be used in Tanzania and Uganda. The TIS Plant will apply thermal insulation to all 86,000-line pipe joints prior to their dispatch and installation along the route from Uganda to Tanzania. The purpose of the insulation is similar to a thermos flask – it retains the warmth of the fluid inside the pipe whilst simultaneously keeping the external environment cool.

Concurrent with the inauguration event was the official signing of land lease agreements between the East African Crude Oil Pipeline (EACOP) and Tanzania Petroleum Development Corporation (TPDC). This follows the completion of the land acquisition and compensation process. The land leases and the production of thermally insulated pipe are two key precursors for construction activities starting along the right of way.

The inauguration was graced by esteemed dignitaries, including Hon. Dr. Doto Mashaka Biteko (MP), Deputy Prime Minister and Minister for Energy, United Republic of Tanzania who officiated the event together with Ruth Nankabirwa, Minister of Energy & Mineral Development, Uganda, EACOP Management, Contractors alongside other distinguished guests such as Ministers, Members of Parliament, High Commissioners, Permanent Secretaries, and other government officials from Uganda and Tanzania.

Following a ramp-up period, the workshop will boast an impressive production capacity of 110-117 kilometers of insulated line pipe per month. Production is slated to commence immediately and continue into 2025.

The establishment of this Plant not only signifies technological advancement but also creates numerous employment opportunities within the region. During the construction phase, a total of 500 personnel on site were employed. During the production phase, 270 workers will be involved in front line site activities, including running the thermal insulation production lines, pipe handling, logistics, maintenance and inspection. The remaining personnel are involved in supporting activities spanning various fields such as catering, camp operation, security and administration. Read full article

In an effort to strengthen collaboration and transparency, the East African Crude Oil Pipeline (EACOP) holds quarterly meetings both in Dar es Salaam and online, inviting Non-Governmental Organizations (NGOs) from across Tanzania to participate. These meetings serve as crucial forums for stakeholders to come together and engage in meaningful dialogue. The primary objective of these gatherings is to provide regular updates on the project’s progress, covering a wide spectrum of technical and social issues. EACOP offers a platform for addressing concerns, answering queries, and collecting valuable opinions from stakeholders.

During the most recent meeting held on March 19th, 2024, participants discussed updates on various aspects of the project, including project overview, local content, environmental updates, Resettlement Action Plan (RAP) implementation, human rights, project-induced in-migration (PIIM), stakeholder engagement, and grievance management. Read full article

With the introduction of MBUX Bark Assist, Mercedes-Benz is now also focusing on its customers’ favourite companions – their dogs.
The intelligent voice assistant is linked to the Mercedes Intelligent Cloud, which is able to decode the barking of four-legged friends and recognise their needs. In future, dogs will also be able to operate selected vehicle functions independently before the journey begins.
The MBUX Bark Assist allows to control the music selection and it can activate the ENERGIZING COMFORT programs as well as the air conditioning and the Shopping Assistant. Mercedes-Benz is setting industry standards with its MBUX Voice Assistant. It is known for its intuitive operation and broad portfolio: occupants can already have questions about sports results, the weather or their surroundings answered – and even control their smart home. Read full article

A colourful and inspiring range of ‘Curated by Mulliner’ Styling Packages have been created exclusively for the Bentley Bentayga S customers in Europe. The four striking themes are all influenced by floral shades from the natural world, each one a reflection of Mother Nature’s extraordinary colour palette.

Elegant and refined, each Interior Styling Package can be further enhanced with a matching Exterior Styling Package, celebrating a growing trend for personalisation among Bentley customers. The optional exterior packages are available alongside the interior ‘Curated by Mulliner’ Styling Pack, while exterior paint colours and additional options can also be selected on top.
Created by the Mulliner Design Team, Bentley’s long-established in-house coachbuilding division, the bespoke packages allow customers a unique opportunity to add their own style and creativity to the contemporary design of the performance-orientated Bentayga S. The availability of ‘Curated by Mulliner’ also coincides with a raft of technological upgrades and driver assist features, further enhancing the go-anywhere ability of Bentley’s luxurious and powerful SUV.Responding to the demand from Bentley clientele for further personalisation, the ‘Curated by Mulliner’ Styling Packages add subtle accent colours, all inspired from nature. The Mulliner Design Team believe these carefully selected natural hues of flowers and blossoms will broaden the appeal of these popular models. Magenta was inspired by purple peony flowers that are said to represent honour and respect, luxury, dignity and power; Glacier Blue by an ice blue dahlia flower often associated with peace and elegance; Azimuth Blue by the blue hortensia flowers associated with calm and serenity; and Cherry Blossom by the blooming cherry trees of Japan, a symbol of springtime and renewal.

Each one of these four accent colours tastefully highlights key elements of the exquisite Bentayga S cabin. These include the contrast steering wheel spokes and gear lever, illuminating ‘Curated by Mulliner’ welcome lamps, accent leather to the seats and Mulliner deep-pile overmats with contrast micro-piping. The interior packages must be accompanied with the mood lighting specification, LED welcome lamps and sports pedals, while the exterior packages have to be selected with rear acoustic privacy glass, 22” S directional wheels painted black, plus self-levelling wheel badges, to make the Bentayga S look stunning.

The exclusive ‘Curated by Mulliner’ Styling Packages offer customers a chance to put their own stamp of individuality on the best-selling Bentayga model, a trend that has long been popular with Bentley customers. As well as the four stunning interior packages, they can also specify a matching Exterior Styling Package. This extends the chosen colour theme with a subtle accent pinstripe to the exterior mirrors, as well as to the body kit that adds further individuality to the Bentayga’s eye-catching design.

The Styling Packages coincide with major technological upgrades and driver assist features on all Bentayga S models. New innovative seat comfort features include Postural Adjust and Seat Auto Climate to aid wellbeing; and an improved air conditioning system monitors particle matters inside and outside the car, automatically activating ‘recirculation mode’ when required. The advanced system also uses map data to detect tunnels where higher pollution levels are expected. . Read More

Volkswagen of America, Inc., announced the offer structure for the 2025 ID.7, the first all-electric Volkswagen in the near-luxury sedan segment. The ID.7 will be offered stateside in two trims—Pro S and Pro S Plus—with an 82 kWh battery and 282 horsepower and 402 pound-feet of torque on rear-wheel drive models; all-wheel-drive models will have maximum horsepower of 335. Range and pricing will be announced closer to launch in Q3.

All ID.7 models are equipped with an array of standard high-end features, starting with 19-inch wheels, front and rear illuminated logos, and power-folding mirrors outside. Five-door KESSY® keyless access with proximity unlocking and a power tailgate with Easy Open/Close allows easy access for passengers and their belongings. Exterior colors include Mythos Black, Glacier White, Moonstone Grey, Aquamarine Blue, and Kings Red.

Inside, a 15-inch infotainment display and augmented reality head-up display set a high-tech tone, while illuminated décor and a panoramic glass roof with electrochromic tinting provide a premium look and feel. Driver and passenger comfort is given ultimate attention, with a heated steering wheel, 12-way adjustable heated front seats with massage and memory, smart air vents, and three-zone Climatronic® automatic climate control. Two color choices are available: Galaxy, which features black seats with white stitching and a dark interior palette, and Lunar, which features gray seats with contrast stitching and a light interior palette.

Volkswagen’s IQ.DRIVE® advanced driver assistance technology is standard, and features hands-on semi-automated capability, including driver-initiated lane changes. In addition, all ID.7 models feature Park Distance Control, Park Assist Plus with Memory Parking, and Area View. Read More

Oil and Gas BlendsUnitsOil Price US$/bblChange
Crude Oil (WTI)USD/bbl$84.77Up
Crude Oil (Brent)USD/bbl$88.48Up
Bonny LightUSD/bbl$88.97Up
Saharan BlendUSD/bbl$87.82Up
Natural GasUSD/MMBtu$1.86Up
Murban CrudeUSD/bbl$88.65Up
OPEC basket 01/04/24USD/bbl$87.33Up
At press time 02 April 2024


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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.

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