Energy News Digest, Oil and Gas, 19th Jan. 2022. OPEC daily basket price stood at $88.08 a barrel on Tuesday, 18 January 2022

Oil prices rose to a seven-year high Tuesday amid ongoing supply concerns and escalating tensions in Ukraine and in the Middle East. Markets now question when oil will hit $100!!. FOB Singapore jet fuel/kerosene cargo breached the $100/b  mark for the first time in more than seven years, Platts data showed.

KBR announced it has been awarded an engineering services contract by Woodside Energy (USA) Inc. for its proposed H2OK liquid hydrogen production facility project in Ardmore, Oklahoma. Under the terms of the contract, KBR will provide a front-end engineering design for Woodside’s H2OK liquid hydrogen facility. Cryogenic liquid hydrogen is used in the transportation industry as a fuel for fleets where the combustion of liquid hydrogen produces zero-emissions, with water as the only by-product. “KBR is pleased to support Woodside on this project as the company advances its portfolio of decarbonization solutions,” said Jay Ibrahim, President – Sustainable Technology Solutions. “Our focus on energy transition and carbon footprint reduction is helping our clients meet their sustainability goals around the globe. At KBR, we continually strive to develop new technologies and solutions that benefit our planet.” Read More

Mercedes-Benz India plans to bring to the market the locally assembled EQS electric sedan in the fourth quarter of 2022 to add to the all-electric SUV EQC, which was launched as a fully imported unit in October 2020 With plans afoot to locally assemble its all-electric sedan EQS in India, luxury carmaker Mercedes-Benz is looking to accelerate sales of electric vehicles in the country, according to a senior company official. Read More

AES Solar Manging Director, George Goudsmit has been awarded the Lifetime Achievement Award at the Solar & Storage Awards 2021.

The major industry led award recognises his thirty years plus of dedication to the UK solar sector. The awards were held at the NEC, Birmingham as part of Solar & Storage Live 2021. Read More George, of Forres, Scotland, whose goal is to get as much renewable energy into the world as possible, says there is now even discussions of installing them at Buckingham Palace according to media reports.

In 2022, Mercedes-Benz strongly reiterates its electric ambition in India and will launch the first-ever all-electric luxury sedan, the EQS for Indian customers. Over the course of the year, the company will also commence the local production of this luxury EV in India. As a part of its product offensive for the Indian customers in 2022, Mercedes-Benz will launch some of the most desirable and exhilarating products such as the exquisite new S-Class Maybach and EQS along with many other exciting offerings from the AMG portfolio. Read More Mercedes-Benz leads the Indian luxury car market for seventh year in row

World’s first high resolution thermal imaging satellite. Satellite Vu, an Earth observation company that offers the highest-resolution thermal imagery and insights, has formally signed a contract with Surrey Satellite Technology Ltd. (SSTL) to build its first satellite. The new satellite is due to be launched into low earth orbit in Q4 2022. The satellite will collect thermal data day and night of both the natural and the built environment at any location on the planet. The full constellation will have the ability to measure the heat signature of any building multiple times a day, enabling Satellite Vu to derive new insights in real time about building heat loss, activity and insulation. Read More

Bugatti’s first electric vehicle is not a Tesla rival or futuristic hypercar, but an e-scooter with a top speed of 18mph Hypercar maker teams up with US firm Bytech to launch an 18mph e-scooter Read More

Commodity PricesUnitsPrice $change
Crude Oil (WTI)USD/bbl$86.52Up
Crude Oil (Brent)USD/bbl$88.36Up
Bonny LightUSD/bbl$88.24Up
Natural GasUSD/MMBtu$4.27Down
OPEC basket 18/01/22USD/bbl$88.08Up
At press time 19th January 2022

Neste has been included in the Corporate Knights 2022 Global 100 Index of the most sustainable companies in the world for the 16th consecutive time. Neste has been included in the index for longer than any other energy company in the world. In 2022, Neste placed 24th in the index and first among its industry peers. In the 2022 index, Corporate Knights introduced a new methodology in clean economy indicators that made Neste’s ranking change from previous years. Corporate Knights classifies Clean Revenues and Clean Investments in line with their Corporate Knights Clean Taxonomy. The new methodology weighs the absolute share of Clean Revenues and Clean Investments and the performance against peers equally. Previously, the score was based on the performance against peers. Read More

Lundin Energy AB (Lundin Energy) will publish its financial report for the fourth quarter 2021 and host a webcast presentation for the 2021 year end results and a 2022 business update on Tuesday, 1 February 2022. For the fourth quarter 2021, Lundin Energy will expense pre-tax exploration costs of approximately MUSD 20, and recognise a net foreign exchange loss of approximately MUSD 84.

AkerBP transaction
On 21 December 2021, Lundin Energy announced that it had entered into an agreement (the transaction) with AkerBP whereby AkerBP will absorb Lundin Energy’s E&P business through a cross-border merger in accordance with Norwegian and Swedish law. Before completion of the cross-border merger, the shares in the company holding Lundin Energy’s E&P business will be distributed to Lundin Energy shareholders. Consequently Lundin Energy will present its E&P business as discontinued operations in the consolidated Income Statement and will present the asset and liabilities associated with the E&P business as assets and liabilities held for distribution. All the items included in this update on the fourth quarter 2021 financial results relate to Lundin Energy’s E&P business unless stated otherwise. Read More

Clean lithium developer Lake Resources NL confirms that the production base case will be increased to 50,000 tonnes per annum lithium carbonate equivalent (LCE) in the Definitive Feasibility Study (DFS) and the final investment decision (FID) for the Kachi Lithium Project.

The DFS will be expanded from 25,500 tpa LCE to 50,000 tpa LCE, underpinned by an anticipated increased resource estimate from drilling results (ASX announcement 15 Dec 2021, 7 July 2021). Read More

Eni announces the dates for its 2022 financial calendar
The final dividend for the 2021 fiscal year will be paid on May 25, 2022 (ex-dividend date: May 23, 2022; record date: May 24, 2022) and the interim dividend for the 2022 financial year will be paid on September 21, 2022 (ex-dividend date: September 19, 2022; record date: September 20, 2022).

Markets will be promptly informed of any changes to the above calendar. Read More

McDermott has been selected to work on a pioneering project for the production of Rhamnolipids—an advanced technology with the potential to fundamentally transform cleaning products and significantly reduce their environmental impact. Rhamnolipids are a type of biosurfactant made via fermentation. It is used as a component of cleaning products and has exceptional foam-forming properties and high-performance results—all with the environmental benefits of being entirely based on natural sugars and being one hundred percent biodegradable. Read More

After Q4 2021 ended, OPEC has now adjusted its oil demand forecast for the last quarter of 2021 higher, “mainly to account for stronger-than-expected demand in Americas and the Asia Pacific and despite the emergence of the new COVID -19 variant (Omicron),” the cartel said in its January MOMR. OPEC does not expect monetary actions from the Fed and other central banks—which have already signaled rate hikes are coming this year—to slow the current global economic momentum. Read More

RegionPeriodNo. of RigsChange from Prior Count
U.S.A14th January 2022601+13
Canada14th January 2022191+50
InternationalDecember 2021834+17
Baker Hughes ,Rig Count, U.S., Canada,

China considers this year as the crucial year for its new-energy vehicles industry to “go global,” according to the Chinese industry ministry.

In a meeting chaired by Chinese Minister of Industry, Xiao Yaqing, Beijing has decided to accelerate innovations and products and standards in its zero-emission vehicles industry to “go global,” Reuters reported on Tuesday, quoting a note from the industry ministry posted on its Wechat account. Read More

Wintershall Dea has been awarded seven exploration licenses in the annual Awards in Predefined Areas (APA) round in Norway, including four as operator. The new awards strengthen Europe’s leading independent gas and oil company’s position on the Norwegian Continental Shelf. Five of the new licenses are located in the North Sea. The two other new licenses are located in the Norwegian Sea, including a new operated license close to the Njord field. Read More

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

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