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London, 08 April 2024, (Oilandgaspress):- Neste and South Korean chemical company Lotte Chemical are teaming up to make chemicals and plastics more sustainable. The companies embark on a strategic collaboration to replace fossil resources with renewable raw materials in the manufacturing of chemicals and plastics. This will enable products and applications with a lower carbon footprint compared to those produced from fossil resources.

The collaboration will see Neste providing renewable Neste RE™, a raw material for chemicals and plastics, that is made from 100% renewable raw materials. Lotte Chemical will use Neste RE at the company’s Korean sites to produce various common types of plastics and chemicals in Lotte Chemical’s broad product portfolio. These plastics and chemicals may be used in multiple applications and in supply chains for various products ranging from packaging to construction and from textiles to electronics. The quality and performance of the end products remain unchanged. With chemicals and plastics still largely depending on fossil resources, both companies see an urgent need to make a switch to more sustainable alternatives. “We are looking forward to increasing the share of renewable solutions in collaboration with Lotte Chemical,” says Jeroen Verhoeven, Vice President Value Chain Development for renewable polymers and chemicals at Neste. “Together, we can pave the way to more sustainable supply chains and lower emissions for a wide range of sectors and applications.” . Read More

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

“More than a hundred audited contractor companies and a total of some 4,500 people, including about a thousand Neste employees, are participating in the turnaround works,” says Sami Wasström, Head of Turnarounds from the Oil Products business at Neste. “In all turnaround works, we ensure the health, safety and well-being of our employees and partners. Our ambition is to make every turnaround day a safe day.”

Careful planning has enabled Neste to shorten the duration of the 2024 major turnaround compared to previous major turnarounds in Porvoo. Shutdowns and startups of process units temporarily cause increased flaring, noise and odor nuisance in the nearby areas. During the major shutdown, traffic volumes in the nearby area increase considerably. “We always plan major turnarounds very diligently. It is important to us that the turnaround interferes with the life of the local residents and businesses as little as possible and that the impact is short-termed,” says Sami Wasström.: Read More

TotalEnergies has agreed to acquire the 20% interest held by Lewis Energy Group in the Dorado leases operated by EOG Resources (80%) in the Eagle Ford shale gas play, increasing its natural gas production capacity in Texas and further strengthening its business integration in the U.S. LNG value chain.

TotalEnergies increases its natural gas production in the U.S

Located in Texas, the Dorado field will allow TotalEnergies to increase its net U.S. natural gas production by 50 million cubic feet a day (Mcf/d) in 2024, with the potential for an additional 50 Mcf/d by 2028. The field has an emission intensity of around 10 kg CO2e/boe. In 2023, TotalEnergies’ net U.S. natural gas output reached around 340 Mcf/d (450 Mcf/d technical production).

TotalEnergies, largest exporter of U.S. LNG

With over 10 million tons (Mt) in 2023, TotalEnergies was the number one exporter of U.S. LNG, thanks to its 16.6% stake in the Cameron LNG plant in Louisiana and several long-term purchasing agreements. The Company’s LNG export capacity will reach 15 Mt/y by 2030 following the start-up of the first phase of the Rio Grande LNG project in Texas, currently under construction. “This acquisition strengthens our production of natural gas in the United States, contributing to reinforce TotalEnergies’ LNG integration with a low cost and low emission upstream gas feed,” said Nicolas Terraz, President, Exploration & Production at TotalEnergies. “We are pleased to partner with EOG Resources, an operator recognized for its strong technical expertise.” Read More

James Marape, the Prime Minister of Papua New Guinea and Patrick Pouyanné, Chairman and CEO of TotalEnergies, met together to discuss the status of the Papua LNG project. On this occasion, Patrick Pouyanné reaffirmed to the Prime Minister that TotalEnergies, operator of the project, and its international partners ExxonMobil, Santos, JX Nippon, are fully committed to Papua LNG. In particular, he shared the high interest of several LNG buyers for off-taking LNG from Papua LNG due to its strategic location close to key Asian markets. He also informed the Prime Minister that, after receiving first EPC offers, it appears that the project will need to keep working with contractors to obtain commercially viable EPC contracts and requires more work to reach FID. In that view, the project will review the structure of some packages and open the competition to an enlarged panel of Asian contractors. As a consequence, FID of Papua LNG project is now expected in 2025. The Prime Minister and Patrick Pouyanné agreed that this slight delay will not affect the early works planned in Papua New Guinea in 2024 and that the project will maintain its full support to local population of Gulf Province. This demonstrates the commitment of TotalEnergies to the well-being of the people of Papua New Guinea.

Moreover, Patrick Pouyanné announced that TotalEnergies intends to drill the first deepwater exploration well on the PPL 576 license in 2025. Read More

KBR announced that it has been awarded new contracts estimated at more than $450 million to deliver highly technical systems engineering support and services to the U.S. Government. Under the terms of these contracts, KBR will provide systems engineering, acquisition support, phenomenology expertise and data science, as well as applied research, communications security infrastructure, operations and maintenance support.

These contracts focus on sustaining both space and ground systems, enhancing acquisition efficiency via digital engineering, [and?] supporting secure communications, information technology systems, and data analysis. Work is expected to be performed through 2031. Additional focus items include providing architecting, engineering and analysis services to support delivery of enterprise capabilities and support to satellite operations. KBR will be combining classic systems engineering methodologies with newer digital engineering technologies to identify solutions for the customer’s difficult challenges, moving their enterprise forward and meeting their mission objectives. Areas of support include strategy and concept development, user engagement, architecture assessment, advanced communications security, lifecycle readiness, verification and validation, mission assurance and utility, flight operations and training, and simulation and data analytics. KBR’s solutions also use artificial intelligence (AI), machine learning and advanced data frameworks.

“We are excited to be a part of these significant projects and to continue growing and maintaining a substantial presence in the Washington D.C. Metropolitan Region,” said KBR Government Solutions U.S. President Byron Bright. “These wins are indicative of KBR’s strategic commitment to being a trusted advisor to the government in all aspects of space and ground system acquisition.” These contracts are under KBR’s National Security Solutions (NSS) division focused on defense and intelligence support and resources, serving as a testament to KBR’s unwavering commitment to providing support to the U.S. Government through its exceptional team, highlighting an enduring dedication to innovation and excellence. Read full article

Africa Oil Corp. announce that the Company repurchased a total of 1,050,800 Africa Oil common shares during the period of April 1, 2024 to April 5, 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 1, 2024 to April 5, 2024, the Company repurchased 445,800 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 605,000 Africa Oil common shares on Nasdaq Stockholm, and these repurchases were carried out by Pareto Securities on behalf of the Company. Read More

DNO ASA, the Norwegian oil and gas operator, announced that a final investment decision has been made for the development of the Brasse field, to be renamed Bestla, based on a tie-back to the nearby production facilities of the Brage field. Bestla is Brage’s grandmother in Norse mythology. By long-standing practice, all Norwegian oil and gas fields carry Norse, Nordic or Norwegian names.
Bestla (PL740), located in the northern North Sea, is estimated to contain 24 million barrels of oil equivalent (MMboe) in recoverable reserves and is expected to come on stream as early as the first half of 2027, subject to government approval of a plan for development and operation (PDO) to be submitted later this month.
In addition to DNO Norge AS (39.3 percent), the Bestla partnership includes OKEA ASA (39.3 percent) as operator, Lime Petroleum AS (17 percent) and M Vest Energy AS (4.4 percent). All four companies are partners in Brage (DNO 14.2567 percent) which is also operated by OKEA; this alignment of interests and a common operator have helped speed up studies and decisions on the best way forward. Discovered in 2016 and appraised by five wells in 2017-2019, Bestla will be developed with a two-well subsea tie-back to the Brage platform located at a distance of 13 kilometers; Brage will serve as the host facility for production, processing, and export.
As DNO continues to build its North Sea portfolio, Bestla is projected to add an estimated 10,000 barrels of oil equivalent per day on a net basis to the Company at peak production. Longer term, Bestla will extend the commercial viability of the Brage facilities, allowing DNO and partners to squeeze more oil and gas out of Brage which has been in production since 1993. DNO has two other new fields under development offshore Norway, namely Andvare (32 percent) and Berling (30 percent). Separately, the Company is maturing a string of recent North Sea discoveries towards development. In 2023, DNO was the third most active exploration driller on the Norwegian Continental Shelf and ranked second in discovered volumes with an estimated 100 MMboe net to the Company. DNO has prioritized near-infrastructure exploration in areas with clear routes to commercialization of discoveries and has been an early mover in acquiring substantial acreage positions in selected areas which have since become exploration hotspots. Read More

Toyota Motor Corporation (Toyota) and Daihatsu Motor Co., Ltd. (Daihatsu) have announced their decision to reform the overseas business structure of both companies while aiming to make Daihatsu a “mobility company centered on mini vehicles” going forward. An implementation structure will be established to thoroughly prevent the recurrence of procedural irregularities at Daihatsu, in line with Daihatsu’s resources and actual conditions, aiming to make ever-better cars and realize a mobility society by leveraging Daihatsu’s strengths. Specifically, the Emerging-market Compact Car Company, which spanned the organizations of both Toyota and Daihatsu until now, will be dissolved. Toyota will take responsibility for overseas businesses from development to certification, and Daihatsu will be commissioned to handle the actual development. This change will be made sequentially, following model changeover schedules.

Overview of the changes Shifting the product planning function from the Emerging-market Compact Car Company spanning Toyota and Daihatsu to the Toyota Compact Car Company. As Toyota Compact Car Company will be the contractor of Daihatsu, Toyota will be responsible for the entire process from development to certification.
Transferring the business and product management function to the Business & Sales Unit of Toyota
Other areas related to subcontracting, including resource management and optimization, will also be reported to Toyota to strengthen the partnership.
Toyota Daihatsu Engineering & Manufacturing Co., Ltd. (TDEM) and Toyota Motor Asia Pacific Pte Ltd. (TMAP) will become the Asia Regional Headquarters, belonging to the Asia Region of Toyota, and be renamed “Toyota Motor Asia (TMA).” Based on the upcoming structural change, we aim to make the two companies in the Asia region more self-reliant and increase their collaboration.. Read full article

The Porsche customer teams Rutronik Racing and Pure Rxcing have wrapped up the season-opening round of the GT World Challenge Europe in positions five and eight. With P14 for Schumacher CLRT, another of the eight registered Porsche 911 GT3 R finished in the top 15 of the 55-strong field. The next race in the Endurance Cup of GT World Challenge Europe is the 24 Hours of Spa-Francorchamps on the last weekend in June. The classic held on the Ardennes rollercoaster circuit in Belgium celebrates its centenary this year. Rutronik Racing has finished round one of the Fanatec GT World Challenge Europe powered by AWS in fifth place as the best Porsche customer team. During the three-hour race on the Circuit Paul Ricard, Patric Niederhauser from Switzerland and the two former Porsche Juniors Julien Andlauer from France and Sven Müller from Germany advanced from 13th on the grid to fourth place. Shortly for the finish, however, they were narrowly beaten to the flag by a rival in the last lap. The three drivers Klaus Bachler (Austria), Alex Malykhin (Great Britain) and Joel Sturm (Germany) also made up eight places, ploughing from 16th at the start to finish eighth at the wheel of Pure Rxcing’s 911.As the best non-Pro car of the eight Porsche 911 GT3 R that started at Le Castellet, the two Germans Robert Renauer and Ralf Bohn with their Dutch teammate Morris Schuring achieved 28th overall, equivalent to seventh place in the Bronze Cup. Read full article

Lancia Ypsilon is the car that made the streets of Italy more beautiful, thanks to its unique style with soft and sinuous lines and a refined, typical Italian design, combined with connectivity, efficiency, and style: features that have led it to play an absolute leading role in the market. Equipped with technological features designed to simplify everyday life, improve driving pleasure and onboard comfort, and make it even more current and contemporary, the fashion city car is indeed equipped with a 7″ touchscreen radio, complete with Apple CarPlay and Android Auto and a wireless charger, positioned under the gear lever, which allows you to recharge your smartphone in total safety and comfort. The rear camera facilitates parking maneuvers for a truly stress-free experience.

The brand is now preparing to greet the current Lancia Ypsilon, which marked the recent history of the brand with its successes, leading it into the electrification era.

The handover marking the beginning of the brand New Renaissance took place on February 14th, with the unveiling of the New LANCIA YPSILON EDIZIONE LIMITATA CASSINA

To celebrate the success of such an iconic car beloved by the public, Lancia has conceived a dedicated financial offer for its many fans. Indeed, Lancia Ypsilon will be available on the Italian market until June 2024 with a purchase formula starting from €79 per month on ready-to-deliver vehicles with financing and scrappage, and this will be promoted through a TV campaign on air from Sunday, April 7th onwards. Down payment of €3,822 + 35 installments of €79. Final residual installment of €9,032. APR (fixed) 8.49%, APRC 11.28%. Offer valid until April 30, 2024. Read full article

Stellantis released its third Corporate Social Responsibility (CSR) Report, which summarizes the progress made by the Company on sustainability activities geared toward a better society for all. “While mobility is the first element of our approach to sustainable progress, we also look to create change within our own operations and in our communities – whether that’s through reducing our own impact on the environment, building more inclusive workplaces, or supporting our host communities,” said Carlos Tavares, Stellantis CEO. “Progress in these areas is crucial to successfully providing affordable mobility for our customers and ensuring our stakeholders continue to grant us a license to operate.”

CSR activities are fully embedded throughout Dare Forward 2030, the Company’s long-term strategic plan. In 2023, key CSR initiatives included:

The reduction of the global carbon footprint (all scopes) in line with the Company’s carbon net zero by 2038 commitment: the absolute global carbon footprint (in CO2-eq) reduced by 12.6% in 2023 vs 2021.
The massive use of decarbonized electricity in the Company’s processes with a 100% target by 2030. In 2023, it reached 58%, contributing to a 20% reduction in absolute tCO2 of the industrial carbon footprint (scope 1 and 2) vs. 2021.  The development of Circular Economy activities: In 2023, more than two million parts were recycled (including catalytic converters, fascias/plastic bumpers, alloy wheels and high-voltage batteries) in four regions (Enlarged Europe, North America, South America and Middle East and Africa). Stellantis inaugurated its first SUSTAINera Circular Economy Hub in Mirafiori, Italy, which started up with engine, gearbox and EV battery remanufacturing, vehicle reconditioning and dismantling. Read full article

.Automobili Lamborghini celebrates the first edition of its Lamborghini Arena event with an exclusive Revuelto created by the company’s Ad Personam customization program, which recently inaugurated its new studio at the Lamborghini headquarters. The special version of the V12 hybrid plug-in super sports car was unveiled during the weekend of Lamborghini Arena, the biggest event in the history of the Sant’Agata Bolognese brand, held at Imola Circuit on April 6 and 7.

The exterior of this special car features contrasting hues with new carbon fiber elements that create a striking visual effect. The bodywork is painted in Grigio Hati (gray) with details in Verde Scandal (green) that accentuate the car’s lower line, roof, mirror caps and rear diffuser surrounds, all combined with the Verde Chiaro (light green) of the brake calipers. The rear part celebrates the Italian flag, with red, white and green stripes embellishing the lower surface of the moving wing. The hood is crisscrossed by two racing-style stripes in Nero Noctis (black), highlighting the performance attitude of the V12 super sports car.

The roof, rear “cofango”, spoiler, air intakes, sill inserts, and other details are made of high-gloss exposed carbon fiber, giving the elements a shiny effect enhanced by the 21-inch (front) and 22-inch (rear) high-gloss black Altanero alloy wheels. The interior trim echoes the exterior colors, with Nero Ade (black) sport seats featuring stitching and piping in the Verde Scandal hue, the same color used for the Lamborghini logos embroidered on the headrests. The bulkhead panel lining is embellished with exclusive embroidery depicting the map of the Imola Circuit, the lettering “Lamborghini Arena 2024” in Bianco Leda (white), and escape route maps in Verde Scandal (green). Also exclusive are the carbon fiber plates with “Lamborghini Arena 2024” and “Ad Personam” logos located on the ends of the dashboard.

Unveiled in March 2023, Revuelto is the first V12 hybrid plug-in super sports HPEV (High Performance Electrified Vehicle). It is equipped with a 6.5-liter naturally aspirated V12 mid-engine combined with three electric motors, one of which is integrated into the new 8-speed dual-clutch transmission. Delivering maximum torque of 725 Nm at 6750 rpm and maximum power output of 1015 CV, it reaches a top speed of more than 350 km/with 0-100 km/h acceleration in just 2.5 seconds. Read full article

Extinction Rebellion and Just Stop Oil co-founder Roger Hallam will be sentenced alongside Dr Larch Maxey and Mike Lynch-White, for allegedly trying to shut down Heathrow Airport with small toy drones in September 2019.
The three are appearing at Isleworth Crown Court from 2pm. The common law offence of public nuisance for which they will be sentenced carries a maximum unlimited prison sentence and Judge Martin Edmonds has said that all sentencing options are on the table. The action, by the Heathrow Pause campaign, aimed to stop Heathrow’s third runway due to its projected impact on climate breakdown, noise and air pollution.
Roger Hallam (57) and Larch Maxey (51) were found guilty of conspiracy to cause public nuisance by a split jury which acquitted their co-defendant, former London Mayoral candidate Valerie Brown (71), on 15th December 2023. Mr. Lynch-White pleaded guilty in November 2023 whilst serving a 23 month prison sentence for disrupting the supply of weapons to Israel. Hallam and Maxey are appealing the verdict on the grounds of misdirection by the judge. Several independent lawyers have expressed their concern over the conduct of the trial and suggest they have a strong appeal with a good chance of success. . Read full article

Oil and Gas BlendsUnitsOil Price US$/bblChange
Crude Oil (WTI)USD/bbl$86.34Up
Crude Oil (Brent)USD/bbl$90.56Up
Bonny LightUSD/bbl$93.94Up
Saharan BlendUSD/bbl$93.32Up
Natural GasUSD/MMBtu$1.76Down
Murban CrudeUSD/bbl$90.45Up
OPEC basket 05/04/24USD/bbl$91.12Up
At press time 08 April 2024

Baker Hughes Rig Count: : U.S. -3 to 621 Canada -18 to 151
U.S. Rig Count is down 1 from last week to 620 with oil rigs up 2 to 508, gas rigs down 2 to 110 and miscellaneous rigs down 1 to 2.
Canada Rig Count is down 15 from last week to 136, with oil rigs down 10 to 65, and gas rigs down 5 to 71.

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.A05 April 2024620-1
Canada05 April 2024136-15
InternationalMarch 2024971.+13
Baker Hughes


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