Energy News | January 13th, WTI Crude stood at $78.74/bl
Wintershall Dea received 11 exploration licenses at the annual APA (Awards in Predefined Areas) licenses in Norway, three of which as operator. The acceptance of the licenses strengthens the Company’s position as one of the premier operators with an exploration strategy in areas with existing infrastructure.The licenses granted under APA 2022, which include five new licenses and six area extensions, are all located in well-developed areas of the Norwegian shelf where Wintershall Dea already has existing infrastructure. Of the four new licenses in the North Sea, two (both as operators) are located near the Vega and Nova fields operated by Wintershall Dea itself. The other seven new licenses are located in the Norwegian Sea, where Wintershall Dea operates the Maria and Dvalin fields. Read More
EU gas imports remained stable year on year last year at around 337.4 bn m3, preliminary data from the European Network of Transmission System Operators for Gas (ENTSOG) show. The bloc traditionally imports most of its gas, and it imported at least 70% of it via pipelines prior to 2022, most of it from Russia. But last year, Russia more than halved its exports to the EU, and the bloc turned to LNG to replace most of the lost Russian supplies as non-Russian pipeline capacities were limited.
This meant that pipeline gas represented only 61% of EU gas imports last year, down from 77% the year prior. Meanwhile, the bloc’s LNG imports rose to an all-time high of 94.73 mt or around 130 bn m3 of regasified gas, representing 39% of the bloc’s gas imports compared to 23% in 2021.
Pipeline deliveries to the bloc dropped by 50 bn m3 or almost 20% year on year. This was mostly due to Russian supplies which plummeted to around 66.6 bn m3, or less than half of the supplies sent in 2021. Read More
Hitachi Energy’s EconiQ™ Consulting delivers key sustainability insights for National Grid’s electricity interconnector. A Life Cycle Assessment (LCA) of a converter station in England delivers key insights about the IFA2 interconnector’s carbon footprint in the effort to advance a sustainable energy future. One of the key findings that came out of the Daedalus LCA was that the IFA2 Interconnector saved more carbon emissions in its first year of operation than the total kg CO2e emitted during its creation, due to the resulting low-carbon electricity exchanges between UK and France. Read More
Zepp.solutions has delivered two hydrogen storage and Y50 fuel cell systems to Terberg Techniek. The systems have been used in the conversion of two Liebherr 916 Litronic wheeled excavators from diesel to hydrogen-electric by the vehicle modification specialist. These hydrogen excavators mark the first application of zepp’s fuel cell systems in the construction equipment industry.The two excavators, both owned by Dutch contracting company Jos Scholman, have undergone six months of operational testing. The results show that the excavators are reliable and perform as expected, offering an environmentally-friendly alternative to traditional diesel-powered models as they produce no emissions other than water. Both the fuel cell system and onboard hydrogen storage system were developed by zepp.solutions. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $78.74 | Up |
| Crude Oil (Brent) | USD/bbl | $84.31 | Up |
| Bonny Light | USD/bbl | $84.31 | Up |
| Saharan Blend | USD/bbl | $84.66 | Up |
| Natural Gas | USD/MMBtu | $3.67 | Down |
| OPEC basket 11/01/23 | USD/bbl | $78.23 | — |
EcoCeres, Inc. (“EcoCeres”), an innovative biorefinery company with leading R&D capabilities, announced that it has received a significant equity investment from the leading global investor Bain Capital Private Equity (“Bain Capital”). The transaction follows Series A investment in EcoCeres from Kerogen Capital in February 2022.
EcoCeres is an Asia-based advanced biorefinery platform with industrial-scale production capacity that converts waste-based biomass into a wide spectrum of
biofuels, biochemicals and biomaterials. The Company is one of the few players in the world to produce commercialized HVO (Hydro-treated Vegetable Oil), SAF
(Sustainable Aviation Fuel), and cellulosic ethanol. It has a dedicated R&D team with strong chemical engineering backgrounds, and commercially available combined
capacity of 300,000 tons per annum of HVO and SAF in operation. Through the implementation of core proprietary technologies, EcoCeres is building up distinct biorefining capabilities to deliver decarbonization solutions. Read More
Lime Petroleum AS announce that the operator, Aker BP, has started drilling an exploration well in the North Sea licence PL867/B on 11 January 2023. Lime has a 20 per cent interest in the licence. The well targets the Gjegnalunden prospect in the prolific Hugin reservoir.
Mr Lars Hübert,Chief Executive Officer of Lime, said, “Lime has been active in this part of the North Sea for a long time, and we are very excited about the spud of the Gjegnalunden well. A discovery on Gjegnalunden can readily be developed and tied to nearby fields. It will also support prospectivity in the neighbouring licence PL818 Orkja, where Lime holds a 30% stake.”
The licence PL867 is located on the Gudrun Terrace in the Central North Sea. Drilling will be conducted in water depths of 116 metres using Saipem’s Scarabeo 8 semi-submersible rig and is expected to take 27 days. Read More
Lime Petroleum AS (“LPA”) announced that oil production in December 2022 from the Brage Field in Norway, net to LPA, amounted to 2,161 barrels of oil equivalent per day (boepd). The production in December 2022 was relatively stable overall with some wells experiencing downtime due to acid treatment and a gas lift valve test. There were issues with power availability on the platform due to low volumes of produced gas and increased power demand during drilling operations, leading to shut-in of two water injectors for a period of time to compensate and distribute the power according to operations priority.
LPA holds a 33.8434 per cent interest in the Brage Field. The operator of the Brage Field is OKEA ASA. Read More
Iraqi Minister of Oil, Hayan Abdul-Ghani, has announced that the Karbala Oil Refinery will begin commercial production in mid-March 2023.
The refinery’s products, including gasoline and kerosene, will meet the highest European standards and specifications (Euro 5).
Production capacity will gradually increase, reaching 140,000 barrels per day by the end of July 2023.
The refinery will produce high-octane gasoline with a degree of 95, with a capacity of 8-9 million liters per day, which can be increased to 12 million liters per day after mixing with naphtha produced at the refinery. Read More
Baker Hughes Rig Count
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 6 January 2023 | 772 | -7 |
| Canada | 6 January 2023 | 189 | +105 |
| International | December 2022 | 900 | -10 |
ExxonMobil has reached an agreement with Bangchak Corporation to sell its interest in Esso Thailand that includes the Sriracha Refinery, select distribution terminals, and a Read More
Paradigm Flow Services Limited has secured a substantial growth funding package from mid-sized SME lenders ThinCats. The loan will facilitate the accelerated growth of Paradigm’s fleet of specialized equipment to meet the high level of demand for both its unique pipeline remediation and fire protection technologies. The transaction was introduced and advised by Bridge and York Capital Partners (B&Y) and Stronachs provided legal support for Paradigm. Clyde & Co supported ThinCats on legal and Azets conducted FDD.
Paradigm will utilize the loan to expand its Dry-Flo® Waterless Digital Deluge Dry Testing fleet which provides customers with the ability to not wet test for up to 10 years whilst staying compliant with international standards. Paradigm will also expand its Flexi-Coil® Flexible Composite Coiled Tubing fleet, which is used for pipeline cleaning, typically when other options have been exhausted and also for the installation of their short-lead time flexible in-riser velocity and gas lift strings. Read More
On Thursday February 2nd 2023 at 07:00 GMT (08:00 CET and 02:00 EST) Shell plc will release its fourth quarter results and fourth quarter interim dividend announcement for 2022. Read More
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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