Energy News As Reported 27 Feb 2023: U.S. Rig Count down 7 from last week to 753
London, Feb 27 (Oilandgaspress) Brent Crude stood at $83.51/bl, OPEC basket price at US$82.04/bl.
Scientists at the U.S. Department of Energy’s (DOE) Argonne National Laboratory are reportedly testing new materials in battery construction. One such material is sulfur. Sulfur is considered extremely abundant and cost effective. It is said to hold more energy than traditional ion-based batteries.
Enel Group, through its subsidiary Enel Argentina, has signed and closed the deal for the sale to energy company Central Puerto S.A. (“Central Puerto”) of the Group’s 75.7% stake in the thermal generation company Enel Generación Costanera (“Costanera”). At the same time, Enel has signed today the agreement on the sale to Central Puerto of the Group’s 41.2% stake in the thermal generation company Central Dock Sud (“Dock Sud”), which is expected to be closed within the first quarter of 2023 subject to certain conditions precedent. The total consideration for the sale of Enel’s equity in the two companies amounts to 102 million US dollars.
Costanera, located in the city of Buenos Aires, is the largest thermal power plant in Argentina, which was built with a total capacity of 2,305 MW. Dock Sud owns and operates a gas-fired power plant located in the Avellaneda district of Buenos Aires, with an installed capacity of 870 MW. Central Puerto is the second largest power generator in Argentina with almost 5 GW of installed capacity, listed in Buenos Aires and New York Stock Exchange (NYSE). Read More
TIM and Enel X, a company of the Enel Group dedicated to energy efficiency and innovative energy services, have signed an agreement to install a photovoltaic system at the “La Figuretta” telephone exchange in Pisa in order to produce green energy and cut down CO2 emissions as part of their sustainability plans.
With an installed capacity of 1.3 MWp, the system will be managed for 12 years by Enel X, including all necessary monitoring and maintenance activities. It is estimated that more than 1.63 GWh will be produced annually as a result of this project, with savings of around 740,000 kg of CO2 each year. By partnering with Enel X, TIM will also be able to produce energy from renewable sources, therefore using less energy from the grid. The 1.63 GWh of annual renewable energy produced will be 100% absorbed for self-consumption by the “La Figuretta” telephone exchange, which will help make the facility more sustainable. In fact, the amount of renewable energy produced by the “La Figuretta” facility in Pisa is equivalent to that required to power a city district or a town of roughly 600 households. Read More
China Southern Power Grid Co. is considering a binding bid for Enel SpA’s distribution operations in Peru, according to people familiar with the matter, in what could be one of the largest cross-border deals by a Chinese buyer this year. Read More
New vehicle sales in the United States are expected to increase in February, but the decision by General Motors Co GM.N to cut production of large pickup trucks at a U.S. plant points to new challenges for Detroit’s automakers.
The major Detroit pickup truck brands are sitting on growing inventories of unsold vehicles, according to Cox Automotive data provided to Reuters.
As supply-chain bottlenecks ease, the resolve among Detroit’s automakers to keep inventories tighter than before the pandemic will be tested. Automakers could have to choose between reducing output to avoid price cuts, or offering richer discounts to pump up sales volumes, dealers said.
GM dealers have over 100 days’ supply of Chevy Silverado pickups in stock, reflecting more vehicles on the ground and a seasonally slow pace of sales, according to Cox. Inventory levels are over 100 days’ supply for rival Stellantis NV’s STLAM.MI Ram half-ton and heavy-duty pickups. Ford Motor Co F.N has 92 days’ worth of F-150s in stock, according to Cox data. Read More
A 1980s Fast Ford collectible car has smashed all records this weekend by selling at auction for a jaw-dropping £596,250.
The 1987 Ford Sierra Cosworth RS500 obliterated its £150,000 to £180,000 pre-sale guide price on Saturday and sold for a winning bid four-and-a-half times higher than the previous world record amount paid for one of these limited edition modern classics.
Described as ‘perhaps the finest example’ of the rare RS500 breed, the astounding price paid for the Sierra at the Silverstone Auctions Race Retro sale is 30 times what it originally cost when it was in showrooms 36 years ago for £19,950. Read More
More Nigerian export plans for April continued to emerge on Friday while differentials for Angolan crude were largely steady as trading had yet to kick off for the trading cycle.
- Angola’s state oil firm Sonangol last offered three April-loading spot cargoes: Girassol at dated Brent plus $3.20, Cabinda at dated Brent plus $3.00 and Dalia at dated Brent plus 20 cents a barrel.
- Africa’s second-biggest exporter had yet to fully sell out of its March supplies, with commodities trading giant still offering a partial cargo of Dalia crude on a cost, insurance and freight basis, which has not attracted any buying interest for almost two weeks.
- Steady gasoline stocks in Europe helped drive offer prices for Nigerian crude down around 30 to 50 cents in the last week, traders said.
- The Nigerian Agbami and Escravos streams are set to export three crude cargoes each in April, according to preliminary loading programmes seen by traders.
- Taiwan’s CPC closed a buy tender for May-arriving crude, but results did not immediately emerge. Read More
Analysis of 280,000 garage quotes given to drivers last year revealed fully-electric models are ‘significantly cheaper’ to service than all other fuel types.
An electric car costs an average of £103 to service, whereas diesels are most expensive at an average of £163, followed by hybrids (£159) and petrols (£151), according to BookMyGarage.com. While owners of EVs will welcome the findings, the Institute of the Motor Industry is concerned that the number of technicians gaining qualifications to safely work on them won’t keep pace with electric car sales before the end of the decade. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $76.69 | Up |
| Crude Oil (Brent) | USD/bbl | $83.51 | Up |
| Bonny Light | USD/bbl | $83.08 | — |
| Saharan Blend | USD/bbl | $82.95 | — |
| Natural Gas | USD/MMBtu | $2.59 | Up |
| OPEC basket 24/02/23 | USD/bbl | $82.04 | Up |
Global AC Electric Motor Sales in Oil and Gas Market Development Strategy Pre and Post COVID-19, by Corporate Strategy Analysis, Landscape, Type, Application, and Leading 20 Countries covers and analyzes the potential of the global AC Electric Motor Sales in Oil and Gas industry, providing statistical information about market dynamics, growth factors, major challenges, PEST analysis and market entry strategy Analysis, opportunities and forecasts. The biggest highlight of the report is to provide companies in the industry with a strategic analysis of the impact of COVID-19. At the same time, this report analyzed the market of leading 20 countries and introduce the market potential of these countries.
Major Players in AC Electric Motor Sales in Oil and Gas market are:
ABB Ltd.
Hitachi Ltd.
FLANDERS Inc.
Schlumberger Ltd.
General Electric Co.
Toshiba Mitsubishi-Electric Industrial Systems Corp.
WEG SA
Siemens AG
Regal Beloit Corp.
Nidec Motor Corp. Read More
Baker Hughes Rig Count
U.S. Rig Count is down 7 from last week to 753 with oil rigs down 7 to 600, gas rigs unchanged at 151 and miscellaneous rigs unchanged at 2.
Canada Rig Count is down 4 from last week to 244, with oil rigs down 5 to 158, gas rigs up 1 to 86.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 24 February 2023 | 753 | -7 |
| Canada | 24 February 2023 | 244 | -4 |
| International | January 2023 | 901 | +1 |
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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