Energy News Briefs| October 19th, WTI Crude stood at $83.82/bl
American Petroleum Institute (API) reported a draw this week for crude oil of 1.27 million barrels. U.S. crude inventories have grown by roughly 27 million barrels so far this year, according to API data, while the U.S. Strategic Petroleum Reserves fell by nearly seven times that figure, at 188 million barrels.
Members of the public in Counties Waterford, and Cork and Wexford are encouraged to have their say on the proposed Celtic Sea Array offshore wind park as part of the public consultation process that will run over a four-week period from 17 October until 11 November.The proposed Celtic Sea Array wind park is located in the Celtic Sea off the Waterford coast and Suir Estuary. Leading renewable energy owner, operator and developer SSE Renewables has applied for a Foreshore Licence to facilitate surveys of the seabed at the site. Once operational, Celtic Sea Array will be capable of generating up to 1.2GW of renewable energy, powering approximately over 1.25 million homes and businesses annually while offsetting 1.2 billion kgs of carbon emissions.
A Community Benefit Fund will also be attached to Celtic Sea Array Wind Park which will be expected to invest in excess of €6 million per year to local communities.
SSE Renewables, is proposing capital investment of up to €2.5 billion to develop Celtic Sea Array. There will be significant employment opportunities to support the day-to-day running of the windfarm. These jobs will be sustained over the operational life of the windfarm. Read More
The African Energy Chamber (AEC), as the voice of the African energy sector, and the African Export-Import Bank (Afreximbank) have signed a Memorandum of Understanding (MoU) to enhance private sector investments across Africa’s oil and gas industry during the first day of the African Energy Week (AEW) conference and exhibition – which runs from October 18 – 21 in Cape Town. Signed by NJ Ayuk, the Executive Chairman of the AEC and Prof. Benedict Oramah, President, Afreximbank, the MoU will pave the way for increased participation of private sector investors and local service companies in boosting capital across Africa’s entire hydrocarbon industry, with the AEC leading various mechanisms aimed at simplifying the entrance and expansion of financial institutions. Read More
The UK Government has confirmed the West Burton power station site in North Nottinghamshire will be home to the ground-breaking STEP prototype fusion energy plant.
The Spherical Tokamak for Energy Production (STEP) plant will be designed and constructed to demonstrate the ability to put net electricity on the grid. It will also pave the way to enable future commercial fusion energy plants to be commissioned and constructed.
Fusion energy has great potential to deliver safe, sustainable, low carbon energy for generations to come. It is based on the same processes that power the sun and stars.
The Government-backed STEP programme will create thousands of highly skilled jobs during construction and operations, and attract other high-tech industries to the region, furthering the development of science and technology capabilities nationally.
The ambitious programme will also commit immediately to the development of apprenticeship training centres in Nottinghamshire, building on the success of the UK Atomic Energy Authority’s (UKAEA) Oxfordshire Advanced Skills centre in Culham, which develops around 180 apprentices from 25 employers every year. Read More
UK Atomic Energy Authority (UKAEA) and Tokamak Energy have signed a framework agreement to enable closer collaboration on developing spherical tokamaks as a route to commercial fusion energy. The five-year agreement will take the form of joint technology development, shared utilisation of equipment and facilities and associated secondment of staff between the two organisations The collaboration will focus on areas including materials development and testing, power generation, fuel cycle, diagnostics and remote handling.Both organisations have operational spherical tokamak devices, with Tokamak Energy’s ST40 recently achieving a plasma temperature of 100 million degrees Celsius, the threshold required for commercial fusion energy.
UKAEA’s MAST Upgrade experiment has helped pave the way for the development of its ambitious STEP (Spherical Tokamak for Energy Production) programme, which aims to design and build a prototype fusion powerplant capable of producing net electricity. Read More
Russian strikes have destroyed nearly a third of Ukraine’s power stations, said Volodymyr Zelensky, as more missiles hit Kyiv.Three people died after Russian strikes hit a Kyiv thermal power plant three times with thick black smoke rising from the northern Desnianskyi district.
At least one man was killed after a missile hit an apartment building in the southern port city of Mykolaiv. Two Russian missiles have caused “serious damage” to Dnipro city’s energy infrastructure in central Ukraine.
Russian forces fired eight rockets at Kharkiv from the city of Belgorod at around 8.30am and hospitals are on backup power in the western Ukrainian city of Zhytomyr as shelling cut power and water supplies. Read More
Sasol and ArcelorMittal South Africa have announced a partnership to develop carbon capture technology to produce sustainable fuels and chemicals, and green steel production through green hydrogen and derivatives.
Under a joint development agreement (JDA), they will advance studies into two potential projects: the Saldanha green hydrogen and derivatives study which will explore the region’s potential as an export hub for green hydrogen and derivatives, as well as green steel production; and the Vaal carbon capture and utilisation (CCU) study to use renewable electricity and green hydrogen to convert captured carbon from ArcelorMittal South Africa’s Vanderbijlpark’s steel plant into sustainable fuels and chemicals.
In addition, Sasol signed a Memorandum of Understanding (MOU) with Freeport Saldanha Industrial Development Zone to develop a globally competitive green hydrogen hub and ecosystem within Saldanha Bay.
“We are very excited to be leading the pre-feasibility and feasibility studies on these two potential projects that hold promise to unlock South Africa’s potential to be a global green hydrogen and derivatives player. These studies are anchored by the local need for green hydrogen and sustainable products, cementing Sasol as the leading contributor to the development of southern Africa’s green hydrogen economy,” said Priscillah Mabelane, Executive Vice President for Sasol’s Energy Business. Read More
ArcelorMittal (the ‘Company’), in the presence of the governments of Canada and Ontario, has broken ground on its CAD$1.8 billion investment decarbonisation project at the ArcelorMittal Dofasco plant in Hamilton, Ontario, Canada.
The project, a partnership between ArcelorMittal and the governments of Canada and Ontario, which was first announced in July last year, will play an important role in ensuring the Company makes progress this decade with its decarbonisation efforts and is part of ArcelorMittal’s target to reduce the carbon intensity of the steel it produces by 25% by 2030. It also demonstrates the power of public and private partnerships to accelerate progress, which are vital if the target of limiting the average global temperature increase to 1.5 degrees is to be achieved. The governments of Canada and Ontario having committed CAD$400 million and CAD$500 million respectively to the overall project cost.
The project will fundamentally change the way steel is made at ArcelorMittal Dofasco, transitioning the site to direct reduced iron-electric arc furnace (‘DRI-EAF’) steelmaking, which carries a considerably lower carbon footprint and removes coal from the ironmaking process. The new 2.5 million tonne capacity DRI furnace will initially operate on natural gas but will be constructed ‘hydrogen ready’ so it can be transitioned to utilise green hydrogen as a clean energy input as and when a sufficient, cost-effective supply of green hydrogen becomes available. Read More
Alight’s 12 MW solar park in Linköping is one of the largest solar parks in Sweden and was commissioned in 2020. By adding battery storage to the facility, the installation will be the largest co-located solar-plus-storage plant in Sweden. The battery storage will be operational in December 2022.
Alight has developed, owns and manages the solar park. Tekniska verken is part owner of the solar park and the battery, as well as grid owner and land owner. Infranode is the primary financier of both the battery and the solar park. Varberg Energi has been an advisor to Alight in the battery project and Soltech is installing the storage solution on location.
As renewable power sources are becoming a larger part of Sweden’s power mix, and the electrification of all sectors is growing rapidly, it becomes increasingly difficult to maintain balance in the Swedish power grid, especially with intermittent power generation. Energy storage systems such as batteries are a source of flexibility that can contribute to grid balancing and become a key enabler of GW-scale deployment of renewable energy in the grid. The battery will contribute to balancing the national electricity grid through frequency regulation, ancillary services, and optimization of solar energy production – when needed by the grid owners and operators. Battery storage can provide energy when the solar energy system is not producing, for example at night, or during outages or power failures. “We are very proud to establish the largest solar-plus-storage plant in Sweden to show how subsidy-free solar and storage is unlocking major opportunities. By adding storage solutions to our solar parks, we revolutionise the way we produce renewable electricity, making it a force of predictability and grid stability. As solar-plus-storage increasingly becomes a standard, everybody wins”, says Harald Överholm, CEO of Alight.
“Tekniska Verken’s vision is to build the world’s most resource-efficient region. This requires innovative technological solutions to replace fossil fuels. It is therefore gratifying that we can take another step in the right direction by working with Alight to bring new innovation in the form of energy storage to a utility-scale solar park. The aim is to contribute to much-needed regulation in Svenska Kraftnät’s frequency and balance markets in order to further stabilise today’s electricity system, while we believe it can be a good deal for us,” says Fredrik Remneblad, Tekniska verken’s Business Unit Manager for Solar, Wind and Hydropower.
“Solar-plus-storage can compensate for the imbalances in the electricity system and offer a quick and scalable solution to avoid expensive and slow grid improvements. Strengthening the electricity grid is important but takes a long time, while solar and batteries are growing rapidly and can therefore be an important, complementary part of the solution,” says Anna Werner, CEO of Svensk Solenergi (Swedish solar association). Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $83.76 | Up |
| Crude Oil (Brent) | USD/bbl | $90.65 | Up |
| Bonny Light | USD/bbl | $89.38 | Down |
| Saharan Blend | USD/bbl | $89.55 | Down |
| Natural Gas | USD/MMBtu | $5.78 | Up |
| OPEC basket 18/10/22 | USD/bbl | $90.82 | Down |
KBR (NYSE: KBR) announced its Board of Directors has declared a regular quarterly dividend of $0.12 per share on the company’s common stock, par value $0.001 per share, to be paid on January 13, 2023, to stockholders of record on December 15, 2022. Read More
Some 30% of Ukrainian power stations have been destroyed, says Zelenskyy
Ukraine’s government has described the situation as “critical” after new Russian strikes pounded the country’s power plants on Tuesday, causing major blackouts as winter approaches. The latest assaults look like a coordinated attempt to destroy Ukraine’s electricity and water supplies before winter, with energy facilities struck in or near several cities, including Kyiv, Dnipro, Kharkiv and Zhytomyr. Two people have been killed in the attacks on the capital, while a man died after a Russian missile struck a block of flats in the southern port of Mykolaiv, the authorities said. Read More
HyAxiom Inc signed an agreement with Shell Plc (NYSE:SHEL) and other parties to power a deep-sea liquefied natural gas carrier with a HyAxiom-developed solid oxide fuel cell to test the technology’s ability to cut carbon emissions from maritime transport, a sector which is vital to trade and economies worldwide but is considered hard-to-abate .
Under the agreement, Shell International Trading and Shipping Company Ltd (“Shell”), Korea Shipbuilding & Offshore Engineering Co., Ltd. (“KSOE”), DNV and Doosan Fuel Cell Co., Ltd (“DFCC”), agreed to launch a vessel powered by a HyAxiom-developed Solid Oxide Fuel Cell (SOFC) in 2025.
This agreement underscores fuel cell technology’s potential in decarbonizing the marine transportation industry and the role that HyAxiom can play in helping major industry players achieve their climate goals.
“Fuel cells are a critical technology to cut carbon emissions and help us combat climate change at scale,” said Jeff Hyungrak Chung, President & Chief Executive Officer of HyAxiom. “HyAxiom is proud to partner with Shell to demonstrate the viability of solid oxide fuel cells as a low to zero carbon way to power the shipping industry.” Under the agreement (following feasibility studies), HyAxiom will design and develop the SOFC Auxiliary Power Unit (APU) incorporating the 2 x 300 kilowatts (kW) sub-systems for long-range maritime demonstration; DFCC will manufacture, carry out factory tests and deliver the product; Shell will charter the demonstration vessel; KSOE will assist with system integration and technological deployment; and DNV will provide technical and safety expertise. Read More
SSE Renewables, part of SSE plc and the company behind it alongside partners Equinor and Eni Plenitude, believe Dogger Bank, has already created or supported 1,250 UK jobs through its construction and operation. Many of these roles are located in Yorkshire and associated with onshore construction works and around Port of Tyne from where the wind farm will be operated. The foundations were designed by UK designers, whilst steel for the project has been manufactured by Tata Steel in Wales and processed in Corby and Hartlepool. The project is just one in the in the pipeline of UK-listed SSE, which is building more offshore wind than any other company in the world.
Up the east coast Seagreen, the world’s deepest fixed bottom offshore wind farm, has just delivered first power from even deeper waters – bolstering the UK’s energy defences even further. Read More
Neste’s Engineering Solutions, a global solution provider of high-quality technology, engineering and project services, and CNOOC and Shell Petrochemicals Company Limited (CSPC), an important petrochemicals joint venture in China, have signed an agreement for CSPC to utilize Neste’s proprietary NEXPAO™ technology at its new synthetic base oil production unit in Daya Bay Economic & Technological Development Zone, Huizhou City, China.
Neste’s NEXPAO is a commercially fully proven technology for production of top-quality synthetic base oils (polyalphaolefins) for demanding applications. Polyalphaolefins (PAOs) are typically used in top quality engine oils, but there are also various other applications where they can be used. PAOs, produced with NEXPAO technology, are low viscosity base oil products with superior properties when compared with mineral oils, such as excellent viscosity index, low volatility (Noack), high oxidation stability and excellent cold flow properties.
Implementation of a production unit utilizing NEXPAO technology is an important milestone to fulfil CSPC’s strategy to expand China’s petrochemicals industry as well as their goal to supply essential and premium chemical products to the region. NEXPAO technology also enables energy efficient production involving moderate process conditions which is in line with CSPC’s commitment to implement a sustainable development strategy. Read More
The European Union’s proposed 2035 ban on fossil-fuel cars should be renegotiated to give hybrid models a greater role in the transition to zero-emission vehicles, Stellantis CEO Carlos Tavares said. “It’s essential,” Tavares said during a news conference at the Paris auto show, when asked if talks on the ban were needed.
“The dogmatic decision that was taken to ban the sale of thermal vehicles in 2035 has social consequences that are not manageable.”
Tavares’ comments come as the EU is currently finalizing a package of climate proposals, which currently includes an effective ban on the sale of new fossil-fuel vehicles from 2035. Under the EU’s proposals, plug-in hybrids would only count as low-emission vehicles until 2030. Read More
A framework agreement was signed on today in Algiers between Mr. Samir Cherfan, Chief Operating Officer of Middle East & Africa region of Stellantis, and Mr. Boussoussa Zineddine, Director of Cooperation of the Algerian Ministry of Industry. This framework agreement covers a project for the development in Algeria of industrial, after-sales and spare parts activities for Fiat, one of the emblematic brands of Stellantis, as well as the development of the automotive sector in Algeria. This ceremony was chaired by Mr. Ahmed Zaghdar Algerian Minister of Industry and Mr. Carlos Tavares Chief Executive Officer of Stellantis in the presence of the Algerian and Italian Ambassadors.
Following this signature, Mr. Carlos Tavares met the Algerian Prime Minister Mr. Aïmene Benabderrahmane. Read More
Baker Hughes Rig Count
U.S. Rig Count is up 7 from last week to 769 with oil rigs up 8 to 610, gas rigs down 1 to 157 and miscellaneous rigs unchanged at 2.
Baker Hughes Rig Count: Canada is up 1 to 216 rigs.
Canada Rig Count is up 1 from last week to 216, with oil rigs up 2 to 150, gas rigs down 1 to 66.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 14 October 2022 | 769 | +7 |
| Canada | 14 October 2022 | 216 | +1 |
| International | September 2022 | 879 | +19 |
------------------------------------------------------------------------------------------------ OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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