Energy News | January 6th, WTI Crude stood at $74.24/bl
Egypt has launched a new international tender for oil and gas exploration rights in the Nile Delta and Mediterranean Sea. The tender comprises 12 blocks, split between offshore and onshore, with the deadline for bids set for April 30 2023. The tender comes as Egypt has seen an increase in its energy reserves in 2022, with 53 new oil and gas discoveries, according to a report by the country’s Ministry of Petroleum and Mineral Resources. The new discoveries include 42 oil wells and 11 gas wells in the Western Desert, the Suez Gulf, the Mediterranean Sea, and Nile Delta. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $74.07 | Down |
| Crude Oil (Brent) | USD/bbl | $79.06 | Down |
| Bonny Light | USD/bbl | $78.93 | Up |
| Saharan Blend | USD/bbl | $78.58 | Up |
| Natural Gas | USD/MMBtu | $3.64 | Down |
| OPEC basket 04/01/23 | USD/bbl | $76.90 | Down |
Repsol has been hit with almost €5.5 million in fines by Peru’s environmental authorities over an oil spill off the country’s coast last year. Three new fines were issued for “administrative responsibilities” relating to the spill, according to the Environmental Assessment and Monitoring Agency (OEFA). The company has already been forced to pay over €11 million for its poor handling of the disaster. Read More
Horisont Energi has entered into an option agreement with Haugaland Næringspark to locate the land- based CO2 terminal for the Errai carbon capture and storage project to Gismarvik in Rogaland, where Haugaland Næringspark has one of Norway’s largest industrial areas. The infrastructure is already in place in the area, with access to fibre, electricity, water, and sewage, and a large harbour basin with deep-sea quay ideal for the Errai project. The CO2 terminal will receive CO2 from both European and Norwegian customers, including from the planned CO2 terminal in the Port of Rotterdam.
Errai is the first commercial CO2 storage project in Norway, and it can have a major impact on the development of the carbon market in Europe. The project is a collaboration between Horisont Energi and Neptune Energy. Read More
Nel and Statkraft, newly signed a contract for delivery of 40 MW of electrolyser equipment, and will thus collaborate to create a strong value chain for production of green hydrogen in Norway. “We are determined that we will contribute towards making Norway a leading producer of renewable hydrogen, and to establish an eco-system of electrolyser and equipment suppliers,” says Nel’s CEO Håkon Volldal and CEO of Statkraft, Christian Rynning-Tønnesen. The announcement was made in connection with the German Vice Chancellor Robert Habeck’s visit to Nel’s fully automated electrolyser manufacturing facility at Herøya in Norway. The Norwegian Minister of Trade and Industry, Jan Christian Vestre, is also joining the delegation together with his colleague, Minister of Petroleum and Energy, Terje Lien Aasland.
The Ministers are enthusiastic about the two companies’ plans for a green hydrogen value chain in Norway. Read More
Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (Nel, OSE:NEL), has agreed with HH2E for a FEED (Front End Engineering and Design) study and a Letter of Intent for two 60 MW electrolyser plants in Germany. The FEED will commence after a firm purchase order is made, and the parties intend to conclude a contract for electrolyser equipment within the first half of 2023. “These projects are important for the energy transition in Germany and Europe, and we are excited to support HH2E in their efforts to create a greener society”, says Håkon Volldal, CEO of Nel HH2E’s two 60 MW plants will be among the largest green hydrogen production plants in Europe announced to date. Both facilities are in the first phase and can be significantly expanded. The hydrogen will be used for industrial applications, transportation, and heat. In total, HH2E is aiming for 4 GW of electrolyser capacity in Germany by 2030. The signing of the FEED study and Letter of Intent takes place Friday morning, the same day as Germany’s Vice Chancellor Dr. Robert Habeck, Norway’s Minister of Petroleum and Energy, Terje Lien Aasland and Minister of Industry and Trade, Jan Christian Vestre are visiting Nel’s factory in Herøya, Norway, where the electrolyser equipment for this project will be produced. Read More
Baker Hughes Rig Count
U.S. Rig Count is unchanged from last week at 779 with oil rigs 622, gas rigs 155 and miscellaneous rigs unchanged at 2.
Canada Rig Count is down 12 from last week to 84.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 30 December 2022 | 779 | 0 |
| Canada | 30 December 2022 | 84 | -12 |
| International | November 2022 | 910 | -1 |
The seventh annual Atlantic Council Global Energy Forum will convene January 14-15, 2023, in Abu Dhabi, United Arab Emirates, to set the global energy agenda for the year ahead and examine the longer-term implications of the changing energy system. This year’s forum will take on particular importance as critical climate and energy strategy issues take center stage in the lead-up to the United Nations’ Climate Change Conference of the Parties (COP28), which the United Arab Emirates will also host at the end of the year. The Seventh edition of the Atlantic Council Global Energy Forum will once again be held under the patronage of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. Among the headliners will be John Kerry, US special presidential envoy for climate and former US secretary of state. The 2023 forum will have a special focus on the challenge of managing energy security priorities and decarbonization efforts in tandem, amid the continuing impact of the crisis in Ukraine on the energy transition. The forum will once again be part of Abu Dhabi Sustainability Week, a global event supporting collaboration on climate action and net-zero pledges. The forum is convened in partnership with the Ministry of Energy & Infrastructure of the United Arab Emirates, Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company, TAQA, and Emirates Nuclear Energy Company (ENEC), with CNBC as international media partner. Read More
INPEX CORPORATION (INPEX) announced it has joined the Rajabasa Geothermal Project (the Project) in Indonesia through INPEX GEOTHERMAL, LTD. (INPEX GEOTHERMAL), a subsidiary established for the purpose of conducting geothermal business. The Project is based in the Rajabasa Geothermal Block in Lampung Province in southeast part of Sumatra island, Indonesia. ENGIE SA, Sumitomo Corporation and PT Supreme Energy, a private Indonesian geothermal power generation business developer have until now conducted exploration activities through an investment in PT Supreme Energy Rajabasa. INPEX joined the Project by acquiring 31.45% of the shares of PT Supreme Energy Rajabasa held by ENGIE SA through INPEX GEOTHERMAL. While the Project is in the exploration stage, surface and geophysical surveys have indicated a certain potential for geothermal resources. If sufficient geothermal resources are located through exploration activities to warrant the development of the Project, this is expected to contribute to the further expansion of INPEX’s geothermal business in Indonesia. Read More
INPEX CORPORATION (INPEX) announced it will assume sole sponsorship of a new environmental television program scheduled to air from January 10, 2023, on certain stations affiliated to the Fuji Network System in Japan. The weekly, six-minute program is entitled “Promise with the Earth – Sceneries Engraved in the Heart” and will feature various natural landscapes and sceneries in Japan, focusing on environmental conservation activities. Read More
Iraqi Minister of Oil, Hayan Abdul-Ghani (pictured), has announced revenues of more than $115 billion from exporting crude oil for the year 2022. More than 1,209 billion barrels of crude oil were exported, giving a daily export rate is approximately 3.320 million barrels per day (bpd). Read More
Iraq Ministry of Finance signed on Wednesday a memorandum with Chargé d’Affaires of the Japanese Embassy in Baghdad, Masamoto Kenichi, regarding the Japanese yen loan for the Basra Refinery Development Project (Phase Four).The project aims to increase the quality of petroleum products and bridge the gap between supply and demand in addition to easing the environmental burden at the new plant through the introduction of a Light Gas Oil Hydro Desulfurization Unit (LGOHDT) through technology transfer. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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