Energy News Roundup, Rig Count, Prices to 19/06/2021

IEA calls on OPEC+ to increase production in order to counter higher demand in 2022.
China to stop subsidizing new solar farm projects and onshore wind farms as soon as this year, Reuters reported, citing the central planning authority of the country.. Rig counts up.

Tesla Model 3 police car UK forces trial is said to be in-line with the Government’s Road to Zero strategy, with the intention to move to 100% ultra-low emissions new vehicles by 2030 The car will also be trialled by fire brigades and medical rapid response units

UK in talks to build battery ‘gigafactories’ for electric cars Ford, LG and Samsung among companies in discussions with government and local authorities

‘Made in Turkey’ electric buses ready for mass production The vehicle will be jointly produced by Turkish automotive company Temsa – a venture of Sabanci Holding and the Netherlands-based PPF Group – and Turkish defense giant Aselsan.

As part of an agreement between the two manufacturers, the Avenue EV, the first domestic electric bus of the Turkish automotive industry, will be equipped with Aselsan’s electric traction systems.

Energy/ Oil Related News Today on PR Newswire Updated Daily

Date for Second Quarter 2021 Earnings Release and Webcast Baker Hughes (NYSE: BKR) will hold a webcast on Wednesday, July 21, 2021 to discuss the results for the second quarter ending June 30, 2021. The webcast is scheduled to begin at 8:30 a.m. Eastern Time (7:30 a.m. Central Time). A press release announcing the results will be issued at 7:00 a.m. Eastern Time (6:00 a.m. Central Time).

Commodity PricesUnitsPrice $Change
Crude Oil (WTI)USD/bbl71.64Up
Crude Oil (Brent)USD/bbl73.51Up
Bonny LightUSD/bbl73.04Up
Natural GasUSD/MMBtu3.21Up
OPEC basket 17/06/21USD/bbl72.29Up
At press time 18th June 2021

9th Technical Meeting The Ninth Technical Meeting of the OPEC and non-OPEC Countries participating in the Declaration of Cooperation (DoC) was held via videoconference. The Meeting convenes twice a year to serve as a platform for DoC participants to discuss oil market developments and exchange views on various technical matters related to the energy sector. Today’s meeting focused on assessing crude oil demand and supply, market balance, the post-COVID-19 oil market situation and the impacts of DoC decisions on restoring balance and stability in the global oil market.

Sharing your charger could supercharge EV uptake There are some 300,000 private EV chargers in UK homes, compared to around 42,000 public charging points. However, while the government expects the majority of EV charging to take place at home, around 40 percent of households have no access to off-street parking to install a charger.

bp, Aker and Statkraft join forces for offshore wind in the Norwegian North Sea The consortium brings together the individual companies’ strong technical skills and deep ?experience in offshore energy projects, covering the full value chain from development to ?the delivery of offshore renewable energy to market.?

Baker Hughes Rig Count to 18th June 2021

RegionPeriodNo. of RigsChange
U.S.A18th June 2021470+9
Canada18th June 2021117+16
InternationalMay 2021750+55

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