Energy News to 06 June 2022. Worldwide Rig Count for May was 1,628, up 25
International Rig Count is up 11 rigs from last month to 817 with land rigs up 9 to 624, offshore rigs up 2 to 193.The Worldwide Rig Count for May was 1,628, up 25 from the 1,603 counted in April 2022,and up 366 from the 1,262 counted in May 2021.
Golar LNG Limited advises that its 2022 Annual General Meeting will be held on August 10, 2022. The record date for voting at the Annual General Meeting is set to June 16, 2022. The notice, agenda and associated material will be distributed prior to the meeting. Read More
Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (Nel, OSE:NEL), has been awarded a contract for an alkaline electrolyser system to Glencore Nikkelverk in Kristansand, Norway. The green hydrogen from the electrolyser system will be used for production of hydrochloric acid.
Glencore Nikkelverk is already familiar with alkaline electrolyser technology as they currently operate a similar electrolyser system at the site in Kristiansand, also this delivered by Nel. “We are honored to be re-elected as electrolyser supplier to Glencore Nikkelverk through their competitive tender-process when they now shall expand their production of hydrochloric acid. Given their high competence on electrolyser technology, with primary focus on safety and reliability, we look forward to strengthening our relationship with Glencore through the project execution and beyond”, says Henning Langås, Senior Tender Manager.
“Hydrogen is an important input factor in our processes and very high reliability is required. Nikkelverk has produced Hydrogen for internal use for more than 60 years. We are pleased to continue a long relationship with Nel and their well proven and reliable alkaline electrolysers”, says Nils G. Gjelsten. Managing director, Glencore Nikkelverk AS The purchase order has a value exceeding EUR 3 million, and delivery off the equipment is expected to be mid-2023 Read More–>
Woodside Energy Group Ltd (Woodside) will today list its shares in the form of American Depositary Shares (ADSs) on the New York Stock Exchange (NYSE) under the ticker “WDS”. This follows completion of the merger transaction between Woodside and BHP Group Limited’s petroleum business, announced on 1 June 2022. ADSs are US dollar denominated negotiable instruments represented by American Depositary Receipts (ADRs) issued by a depositary bank that facilitate US trading and investment in shares of non-US companies. The ADRs will be issued under Woodside’s existing ADR program, which is administered by Citibank, N.A. Each Woodside ADS represents one ordinary share of Woodside. Read More
Neste has signed today a EUR 500 million green term loan agreement. The proceeds of the loan will be used to finance Eligible Assets and Projects in accordance with Neste’s Green Finance Framework. The loan has a tenor of 3 years with two 1-year extension options.
Danske Bank A/S and OP Corporate Bank plc acted as coordinating mandated lead arrangers and bookrunners of the loan.
Neste established the Green Finance Framework in 2021 to further integrate the company’s sustainability ambitions into its financing. The Green Finance Framework is designed to support financing of investments into the development, operations, maintenance and expansion of our renewable and circular solutions with the objective to mitigate climate change globally by reducing greenhouse gas emissions.
Neste’s aim is to be a global leader in renewable and circular solutions. Our strategy focuses on growing in renewable and circular solutions, creating readiness for the future, and boosting competitiveness and transformation. Read More
The latest sanctions imposed by the European Union in retaliation for Russia’s invasion of Ukraine will cause massive disruptions to the global oil market, according to a new analysis. The European Council on Tuesday announced the sixth set of sanctions that will finalise a ban on almost 90 percent of all Russian oil imports by the end of the year.
The oil embargo is expected to fuel more inflation, raise energy bills of consumers and “complicate” global central banks’ task of adjusting interest rates without tipping economies into recession, according to Moody’s. Read More
Actis, a leading global investor in sustainable infrastructure, has agreed to sell Solenergi Power Private Limited, the flagship company for its Sprng Energy platforms, one of India’s largest renewable energy companies, to Shell Overseas Investments B.V for US$1.55 billion.
Sprng Energy supplies solar and wind power to electricity distribution companies in India. Established by Actis in 2017 with an initial seed asset of 330MWp, Sprng has grown to encompass more than 2. 9gigawatts-peak1 of assets (2.1GWp operating and 0.8 GWp contracted) with a further 7.5GWp of renewable energy projects in the pipeline, which will support the Company’s aim to provide a meaningful contribution to the 500GW of renewable energy capacity the Indian government is targeting by 2030. With the support of Actis’ local investment professionals and dedicated sustainability team, Sprng also implemented a world-class CSR programme comprising a best-in-class health and safety and rigorous impact study, which incorporated noise and shadow flicker work on wind turbines and biodiversity analysis. Read More
Japan is both power-hungry and fossil-fuel reliant making for a bad combination but that could all soon change. The nation has now successfully tested a system relying on the deep ocean that could provide a reliable steady form of renewable energy, according to a report by Bloomberg. The invention comes from Japanese heavy machinery maker IHI Corp. The company has been developing a subsea turbine that harnesses the energy in deep ocean currents for over ten years.
The giant sea turbine called Kairyu looks like a 330-ton airplane. It features two counter-rotating turbine fans that are connected by a massive fuselage and it functions by floating while anchoring to the sea floor at a depth of 30-50 meters (100-160 feet).
IHI Corp. has ambitious plans to site the turbines in one of the world’s strongest currents (the Kuroshio Current) and transmit the power via seabed cables. Japan’s New Energy and Industrial Technology Development Organization (NEDO) speculates that this current could potentially generate as much as 200 gigawatts of reliable energy. This is the equivalent of 60% of Japan’s present generating capacity. More
Many automobile companies are working towards making solar-powered vehicles.
Solar-powered vehicles are electric vehicles that use photovoltaic cells to convert energy from sunlight into electricity. These vehicles can store some solar energy in batteries to allow them to run smoothly at night or in the absence of direct sunlight. If used on a large scale, solar-powered vehicles not only help with environmental pollution but also noise pollution. Here are the eight electric vehicles with solar roofs, that are able to charge themselves while on the way.Mercedes-Benz Vision EQXX , Fisker’s Ocean SUV, Hyundai Ioniq 5, Aptera Sol, Lightyear One, The Squad Solar City, Sono Motors Sion , Wolfgang Thundertruck Read More
In conjunction with World Environment Day, Malaysia Airlines, the national carrier of Malaysia, operated its first passenger flight using Neste MY Sustainable Aviation Fuel™ (SAF) on flight MH603 from Kuala Lumpur to Singapore, which was refueled at Kuala Lumpur International Airport (KLIA).
The historic flight was operated with a Boeing 737-800 aircraft fueled by a blend of conventional jet fuel and Neste’s SAF, which is produced from 100% renewable waste and residue raw materials, such as animal fat waste that was used for the SAF on this flight. Read More
General Index and Signal Ocean to offer new CO2 and ocean freight benchmarks
Leading benchmark provider, General Index, and maritime data specialist and software platform, Signal Ocean, have today (06 June 2022) signed an agreement to publish a revolutionary set of ocean freight and CO2 benchmarks. The new benchmarks will provide a series of unique indexes which combine Signal’s vessel and voyage data with General Index’s quantitative and well-established methodologies.
This combination will deliver market participants with an accurate view of fluctuating freight rates as well as allow them to monitor their historical and estimated vessel emissions and quantify the financial cost of these emissions.
Using their tuned models, Signal will provide detailed estimates of greenhouse gasses emitted on a vessel-by-vessel basis.
The service will cover the key global trading routes for crude oil and refined products, starting in the Atlantic Basin. General Index will operate the benchmarks via its tech-native methodologies and production systems, incorporating trade information from its data contributors. The ocean freight and CO2 benchmarks are the first phases of an ambitious plan of collaboration between the two firms.
The move comes ahead of the expected entry of shipping into the European Union’s Emissions Trading System in 2023. The collaboration will provide the industry’s first normalised emissions benchmark allowing shipowners and charterers to trade CO2 emissions.
“Signal Ocean, like General Index, is a data-driven technology company that uses high-quality data and trusted modeling. We’ve combined this with decades of market knowledge and experience as a commercial vessel operator to create a unique set of data APIs that help solve a number of persistent problems in the analysis of shipping markets. Partnering with General Index will allow us to provide new tools to help market participants better understand their emissions performance and manage their financial exposure.” – Ioannis Martinos, CEO, Signal Group Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $119.60 | Up |
| Crude Oil (Brent) | USD/bbl | $120.50 | Up |
| Bonny Light | USD/bbl | $124.18 | Down |
| Saharan Blend | USD/bbl | $123.66 | Down |
| Natural Gas | USD/MMBtu | $8.83 | Up |
| OPEC basket 02/06/22 | USD/bbl | $114.62.94 | Down |
Following Equinor’s announcement today regarding the restart of production at Hammerfest LNG, Neptune Energy’s Managing Director in Norway, Odin Estensen, said:
“Safely restarting LNG production from the Snøhvit field is a great achievement by Equinor and the key contractors on the Hammerfest plant. Snøhvit is an incredibly important field and we have worked closely with the operator and our licence partners to safely bring it back onstream after the fire in September 2020. “This will boost production of much-needed energy to Europe and enhance security of supply.” Neptune Energy holds a 12% interest in the Snøhvit field Read More
After extensive repairs and improvement work, Hammerfest LNG is back in production after the fire in September 2020. The first liquified natural gas (LNG) is now on tank at Melkøya.Norway is an important gas supplier to Europe, and the volumes from Hammerfest LNG account for more than 5% of Norwegian gas exports. During normal production Hammerfest LNG delivers around 6.5 billion cubic metres per year, equivalent to the annual gas demand of 6.5 million European households. Safety has been priority number one during the extensive work process, from the identification of the extent of damage, to the planning of repairs and improvements, and the implementation of the project. Systematic and targeted work has been performed daily by around 1 000 people, bringing the plant safely back online. A stepwise procedure has been followed in the process towards full production. Read More
CME Group, the world’s leading derivatives marketplace, today reported its May 2022 market statistics, showing average daily volume (ADV) increased 18% to 24.3 million contracts during the month.
May 2022 ADV across asset classes includes:
Interest Rate ADV of 11.6 million contracts
Equity Index ADV of 8.4 million contracts
Options ADV of 3.8 million contracts
Energy ADV of 1.8 million contracts
Agricultural ADV of 1.1 million contracts
Foreign Exchange ADV of 874,000 contracts
Metals ADV of 499,000 contracts Read More
McDermott International has been awarded a Front-End Engineering Design (FEED) contract by North Oil Company (NOC) for the Ruya Development, previously referred to as Al-Shaheen Phase 3-Batch 1, located offshore Qatar. This award is one the largest FEED projects undertaken in McDermott’s history and follows the successful completion of the pre-FEED contract.
“This is a strategic contract for our offshore business in Qatar and a game-changer for McDermott as it represents the largest offshore FEED we have ever received in the Middle East,” said Tareq Kawash, McDermott’s Senior Vice President, Offshore Middle East. “As was the case for the Pre-FEED with NOC, work will be led from our highly skilled Doha operating center and will be supported by our Chennai engineering office.”
“The award strengthens our successful collaboration with NOC and demonstrates the continuity of our business relationship with them,” said Neil Gunnion, McDermott Qatar Country Manager and Vice President Operations. “Utilizing our comprehensive experience and in-depth knowledge of the offshore sector in Qatar, we look forward to continuing to work closely with NOC to contribute to the development of Shaheen, which is Qatar’s largest offshore oil field.” The scope of the contract comprises developing FEED studies and deliverables suitable for an engineering, procurement, construction, installation and commissioning (EPCIC) project. This includes creating technical output data (FEED data), providing EPCIC schedule and cost estimates, and developing an early work plan for the brownfield scope with necessary site surveys. The scope also ensures that new greenfield facilities design and brownfield modifications comply with applicable rules and regulations. Read More
U.S. Rig Count is unchanged from last week at 727 with oil rigs unchanged at 574, gas rigs unchanged at 151 and miscellaneous rigs unchanged at 2. Canada Rig Count is up 14 from last week to 117, with oil rigs up 17 to 72, gas rigs down 3 to 45.International Rig Count is up 11 rigs from last month to 817 with land rigs up 9 to 624, offshore rigs up 2 to 193.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 03 June 2022 | 727 | — |
| Canada | 03 June 2022 | 117 | +14 |
| International | May 2022 | 817 | +11 |
A new industry report published by Utilita Energy indicates that the majority of households (57 percent) are not planning to spend anything improving their home’s energy efficiency, while those that are (43 percent) will only spend an average of £148. New report reveals most UK households don’t plan to improve their home’s energy efficiency A staggering 84 percent of households are yet to receive clear advice from the Government on how they can improve their home’s energy efficiency, while almost half of renters (46 percent) don’t believe they will be allowed by their landlords to make energy efficiency improvements. Read More
Governor Kathy Hochul today announced awards for 22 large-scale solar and energy storage projects that will deliver enough clean, affordable energy to power over 620,000 New York homes for at least 20 years. As the state’s largest land-based renewable energy procurement to date, these projects will spur over $2.7 billion in private investment and create over 3,000 short- and long-term jobs across the state. Today’s awards accelerate progress to exceed New York’s goal to obtain 70 percent of the state’s electricity from renewable sources by 2030 on the path to a zero-emission grid by 2040 as required by Climate Leadership and Community Protection Act. These awards will strengthen the state’s current pipeline of renewables to power over 66 percent of New York’s electricity from renewable sources.
“Today’s investments will put us on a path to making New York a greener place to live while also creating new jobs and spurring economic development,” Governor Hochul said. “These projects will allow us to not just meet but exceed our goal of obtaining 70 percent of our electricity from renewable resources and will further cement New York as a national leader in the fight against climate change.” Read More
Governor Kathy Hochul today announced the launch of New York’s National Electric Vehicle Infrastructure Program website. The newly launched website provides additional background on the National Electric Vehicle Infrastructure funding program, and includes a short survey to collect user feedback in order to assist the State in the development of its National Electric Vehicle Infrastructure Plan that will advance New York’s nation-leading climate agenda. The website also allows visitors to sign up for alerts as more information on the development of the National Electric Vehicle Infrastructure Program becomes available. The National Electric Vehicle Infrastructure program provides dedicated funding to states to support the strategic deployment of electric vehicle Level 3 Direct Current Fast Charging infrastructure and establish an interconnected network for reliable charging. “We cannot sufficiently reduce our carbon footprint unless we keep expanding our electric vehicle infrastructure, but thanks to the efforts of President Biden, Senator Schumer, Senator Gillibrand and our Congressional Delegation, who fought for the creation of the National Electric Vehicle Infrastructure Program, we have additional resources to help us reach our climate goals,” Governor Hochul said. “Expanding our electrical vehicle capabilities is a key part of my administration’s ongoing efforts to reduce the impact of climate change across New York State. This new online tool will not only help educate the public on the future of electric vehicle charging, but will give us additional data to plan the next phase of New York’s transportation electric charging network development.” Read More
Clir Renewables, the market intelligence platform for wind and solar, today has been recognized as one of Canada’s fastest growing renewable companies by Corporate Knights Inc. in its inaugural rankings of the Future 50 Fastest-Growing Sustainable Companies in Canada.
The Future 50 ranking includes companies that derived at least 50 per cent of their revenue from clean business activities. To have been included in the ranking, each company must have experienced a year-over-year growth in revenue over the two most recently available fiscal years while having generated a minimum revenue threshold of $100,000.
Clir, which turned five at the start of this year, is an industry leading cleantech company. Built to accelerate renewable energy production and reduce humankind’s impact on the planet, Clir incentivizes the shift to wind and solar energy through improved production, health, insurance and financing.
“We are proud to be included in the inaugural list of Canada’s fastest growing renewable companies along with others whose business activities align with the transition to a global clean economy,” said Gareth Brown, Chief Executive Officer, Clir Renewables. “As we grow, we continue to innovate, finding new ways to combine data, technology and industry expertise to help maximize the financial returns of wind and solar energy portfolios.” Read More
Greenalia advances in its pipeline development in Spain. With today’s DOG publication of a new wind farm, 24 MW Touriñán III-2, in the province of Pontevedra, specifically in the municipalities of A Estrada, Curtis and Campo Lameiro, it takes another step in its pipeline development strategy.
Touriñán III-2 WF is composed of 5 wind turbines, three of them with a unit power of 5 MW, 90 meters high and 145 meter rotor diameters, while the other two are 84 meters high and 132 meter rotor diameter and a 5 MW unit power, limiting the power of one of them for a total installed power of 24 MW. The project will have a 22 million euros execution budget and is expected to mobilize over 100 jobs. The WF will have an annual production of 92,786 MWh/year, the equivalent of the consumption of 26,500 families and the reduction of 34,330 tons of CO2 emissions into the atmosphere. The area where the TOURIÑÁN III-2 Wind Farm and its evacuation infrastructure will be located is outside protected areas included in the Galician Network of Protected Areas or the Natura 2000 Network, including proposals for its expansion. Areas protected by international instruments and IBAs (Important Bird Areas) have also been excluded, as well as priority areas for breeding, feeding, dispersal and local bird concentration. Read More
UK EV infrastructure to benefit from new pop-up mini solar car park launch
Papilio3 is a pop-up mini solar car park and electric vehicle charging hub, developed by 3ti, to boost the roll out of EV charging infrastructure and help to decarbonise the transport sector.Papilio3 combines local mains power with solar panels, a battery and EV charge points, allowing businesses to deploy up to 12 charge points in one go. An ideal solution for workplace and destination car parks, including offices, retail outlets, travel hubs and leisure facilities. Papilio3’s smart charging and intelligent electrical load management system gives EV drivers reliable access to inexpensive, low carbon energy. Read More
Rimac Group Raises Eur 500 Million in Series D Investment Round Led by Softbank Vision Fund 2 and Goldman Sachs
Asset Management, Investing Alongside Existing Shareholders. Rimac Group (“Rimac” or the “Company”), a leader in electrified vehicle technology, raised EUR 500 million in its Series D, valuing the Company at over EUR 2bn. The fundraising was led by SoftBank Vision Fund 2 and the Private Equity business within Goldman Sachs Asset Management, with participation from existing Rimac shareholders, including Porsche and InvestIndustrial. Mate Rimac remains the largest shareholder of the Company. Read More
Plenitude will unveil its installation “Feeling the Energy” at the Brera Botanical Garden, Milan. The work was created in the context of the “Design Re-Generation” exhibition organised by INTERNI magazine as part of FuoriSalone 2022. Designed by the international design and innovation studio CRA – Carlo Ratti Associati in collaboration with Italo Rota, the installation is dedicated to the many forms of energy. Feeling the Energy is an installation that gives a multisensory experience of the ways in which the energy around us can be perceived through the 5 senses. In the installation, energy is revealed in different forms like sound, light and wind, all of which produce the energy we use in our everyday lives. In the exhibition, visitors can discover interactively how sound is created by blowing onto the tools of a living orchestra or by playing a xylophone. In both cases, it is the vibration that transmits the energy needed to produce what we hear. Moving on, visitors will find pinwheels spinning at different speeds depending on the force exerted by the wind. It is the same process that takes place in wind turbines. Finally, sunlight allows photovoltaic panels to transform rays of light into electricity, with the potential to power many of the devices we use every day. The project uses 500 metres of anti-bacterial copper to create a path along which visitors can experiment with different forms of sustainable energy production, such as solar, wind, evaporative cooling and even sound energy through engaging and interactive games. The exhibition develops across the existing paths of the Brera Botanical Garden and visitors can interact safely with the display thanks to the antibacterial properties of copper, supplied by international manufacturer KME, one of the world’s largest producers of copper and copper alloy materials. KME is a company with a longstanding focus on innovation and a strong commitment to sustainability.
In addition, the energy stored during the day can be used to light up the Botanical Garden during evening hours and to power water vaporisers that will cool the Garden while also feeding the surrounding plants. The concept behind the installation is the importance of collaboration between individuals: thanks to the synergy between humans and nature, we produce vital energy that can move our planet forward every day. Read More
OilandGasPress Energy Newsbites and Analysis Roundup |Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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