Energy News to 11/01/23 . OPEC daily basket price at US$77/bl, 10 Jan. 2023
Loyal Lithium Limited announced that the high resolution historical satellite data (multi-spectral) correlates with the known mapped pegmatites and therefore can be used as an efficient and cost-effective tool to refine field program targets at the Trieste Lithium Project (“Project”). Loyal Lithium has subsequently engaged Geospatial Intelligence Ltd to conduct more complex derivations of satellite borne data across the Trieste Lithium Project to streamline its method of refining targets for the inaugural field program in the Canadian spring 2023. Read More
Nigeria’s Federal Government on Monday projected that by the first Quarter of 2024 Nigeria will put an end to the importation of petroleum products into the country.
The Minister of state Petroleum Resources, Timipre Sylva said by the first quarter of 2024 the rehabilitation of the Port-Harcourt refinery would be partly completed while the 650,000 barrel per day (bpd) capacity Dangote Refinery would also be on stream. Sylva stated this at the resumption of the ”PMB Administration Scorecard Series (2015-2023)” organised by the Ministry of Information and Culture. News agency reports that the scorecard series inaugurated Oct. 18, 2022, and has featured 16 Minister’s was meant to showcase the achievements of the Buhari administration. Presenting the scorecard of his ministry, Sylva specifically said that the 60,000 bpd capacity refinery within the Port-Harcourt Refinery complex would be ready for production by Quarter one of 2024. Read More
Neptune Energy has today been awarded two new licences in the Awards in Predefined Areas (APA) 2023, announced by the Norwegian Ministry of Petroleum and Energy.
The new licences are located close to existing infrastructure in the Gjøa and Fram areas of the Norwegian North Sea, where Neptune already has a presence, reflecting the company’s exploration strategy to focus on key opportunities within core areas.
The awarded licences are:
• PL1180 (40% and operator) in the Gjøa area
• PL1179 (15% and partner) in the Fram area Read More
DNO ASA, the Norwegian oil and gas operator, today announced that its wholly-owned subsidiary DNO Norge AS has been awarded participation in 11 exploration licenses, of which one is an operatorship, under Norway’s Awards in Predefined Areas (APA) 2022 licensing round.
Of the 11 new licenses, nine are in the North Sea and two in the Norwegian Sea.
At yearend 2022, DNO held interests in 69 licenses offshore Norway, of which 16 were operated by the Company.
The new awards under the APA 2022 licensing round include:
PL 248 K: Wintershall Dea Norge AS, Petoro AS, DNO Norge AS (20%)
PL 293 CS: Equinor Energy AS (operator), DNO Norge AS (29%), INPEX Idemitsu Norge AS, Longboat Energy Norge AS
PL 827 SB: Equinor Energy AS (operator), DNO Norge AS (49%)
PL 1146 B: ConocoPhillips Skandinavia AS (operator), DNO Norge AS (25%)
PL 1148 B: Wellesley Petroleum AS (operator), DNO Norge AS (30%), Aker BP ASA, Equinor Energy AS
PL 1171: Aker BP ASA (operator), DNO Norge AS (50%)
PL 1172: Aker BP ASA (operator), DNO Norge AS (30%), PGNiG Upstream Norway AS
PL 1175: Aker BP ASA (operator), DNO Norge AS (30%), Lotos Exploration and Production Norge AS
PL 1182 S: DNO Norge AS (operator, 40%), Aker BP ASA, Longboat Energy Norge AS
PL 1186: Equinor Energy AS (operator), DNO Norge AS (20%), OKEA ASA, Wintershall Dea Norge AS
PL 1187: OKEA ASA (operator), DNO Norge AS (30%), Wintershall Dea Norge AS, M Vest Energy AS Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $74.65 | Down |
| Crude Oil (Brent) | USD/bbl | $79.67 | Up |
| Bonny Light | USD/bbl | $79.78 | Down |
| Saharan Blend | USD/bbl | $79.52 | Up |
| Natural Gas | USD/MMBtu | $3.65 | Down |
| OPEC basket 10/01/23 | USD/bbl | $77.00 | Down |
Biden-Harris Administration today released the U.S. National Blueprint for Transportation Decarbonization. Developed by the departments of Energy, Transportation, Housing and Urban Development, and the Environmental Protection Agency, the Blueprint is a landmark strategy for cutting all greenhouse emissions from the transportation sector by 2050. It exemplifies the Biden-Harris Administration’s whole-of-government approach to addressing the climate crisis and meeting President Biden’s goals of securing a 100% clean electrical grid by 2035 and reaching net-zero carbon emissions by 2050. The Blueprint builds on President Biden’s Bipartisan Infrastructure Law and Inflation Reduction Act, which together represent historic investments in the future of our nation that will transform how we move and live while we build the backbone of a safer and more sustainable transportation system. 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 |
Kuwait will send to Europe five times its usual shipments of diesel this year as an anticipated ban of oil products from Russia takes effect.
A Bloomberg report said the Gulf state expects to ship 2.5 million tonnes of diesel to the European Union (EU) over the course of a year, which will make up for a small part of the lost Russian supplies. The EU is expected to ban the Russian imports from February 5 as part of ongoing sanctions on Russia for its invasion of neighbouring Ukraine, which began nearly 11 months ago. Citing sources familiar with the matter, Bloomberg said the shipments will equate to roughly 50,000 barrels of diesel per day, with sales of jet fuel also expected to double to 5 million tons. Read More
U.S. Environmental Protection Agency (EPA) announced the availability of approximately $100 million for projects that advance environmental justice in underserved and overburdened communities across the country. This funding, made possible through President Biden’s Inflation Reduction Act, marks the largest amount of environmental justice grant funding ever offered by the Agency. EPA has published two Requests for Applications for this funding through the Environmental Justice Collaborative Problem-Solving (EJCPS) Cooperative Agreement Program and the Environmental Justice Government-to-Government (EJG2G) Program. Read More
Andre de Ruyter, the outgoing chief executive of Eskom, South Africa’s state-owned electricity generator. Mr de Ruyter, who is due to step down in March, confirmed at the weekend that last month he survived an attempt to poison him using cyanide. The specialist energy information publication EE Business Intelligence had earlier reported that, on 13 December, Mr de Ruyter had drunk a cup of coffee laced with cyanide. The day before, he had submitted his resignation letter to Mpho Makwana, the Eskom chairman.
EE Business Intelligence said Mr de Ruyter had been drinking the coffee in his office at the company’s head office, Eskom Megawatt Park, in Sunninghill, north of Johannesburg. It said he became “weak, dizzy and confused, shaking uncontrollably and vomiting copiously” before he collapsed and was taken to a doctor. Read More
The U.S. Energy Information Administration (EIA) expects global consumption of liquid fuels such as gasoline, diesel, and jet fuel, to set new record highs in 2024. According to EIA’s January Short-Term Energy Outlook (STEO), global liquid fuel consumption will exceed 100 million barrels per day, on average, in 2023 for the first time since 2019, then average more than 102 million barrels per day in 2024. EIA expects crude oil prices to decrease through 2023 and 2024, even as petroleum consumption increases, largely because growth in crude oil production in the United States and abroad will continue to increase over the next two years. EIA forecasts that the European benchmark Brent crude oil price will average less than $80 per barrel in 2024, more than 20% lower than in 2022. “Our forecast for global consumption of petroleum depends on uncertain economic conditions—especially in China,” said EIA Administrator Joe DeCarolis. “How China’s economy changes following its reopening from pandemic lockdowns could have a significant impact on global consumption of petroleum products.” Crude oil prices. We forecast that the Brent crude oil price will average $83 per barrel (b) in 2023, down 18% from 2022, and continue to fall to $78/b in 2024 as global oil inventories build, putting downward pressure on crude oil prices. Read More
Electric car drivers who want to charge their vehicles en-route are forced to pay 58 per cent more than they were in May, a new market review has revealed.
The average cost to use a ‘rapid’ device across the different public charging operators in the UK at the start of January has risen to 70.32p per kilowatt hour, up from 44.55p eight months ago, according to new analysis by the RAC. It says the owner of an electric family car with a 64kW battery will pay £36 to add around 188 miles of range, which works out at almost 20p per mile. In contrast, a driver of an equivalent petrol car will pay only around 17p-a-mile. As a point of comparison, the RAC says the average cost to charge a family EV to 80 pent cent using a wallbox installed at home costs around £17.87 today – despite record high domestic energy prices. Read More
Average working interest production for PetroNor E&P ASA increased to 4,700 bopd1 in the fourth quarter of 2022, compared with 4,100 bopd in the previous quarter and 3,700 bopd in the corresponding period of 2021. PetroNor’s December production was 5,1001 bopd. The improvement is driven by added capacity from the ongoing infill drilling programme on the PNGF Sud field complex which is achieving production levels not seen for over a decade. Following initial success on the Litanzi Field, particular emphasis in the last quarter was on Tchibeli NE, where production was added from two wells in both the main Cenomanian reservoir and the newly discovered pre-salt Vanji reservoirlate November, yielding production contribution to the quarter. Looking forward, the infill drilling program will be paused to allow the jack-up rig, Petrofor Dagda, to be converted to a permanent production platform. Infill drilling will resume on the Tchibeli field using the jack-up rig Axima, scheduled to start in April 2023. PetroNor holds an indirect ownership interest of 16.83 per cent in PNGF Sud in Congo, which is the Company’s core production licence. Total gross field production from this asset amounted to 23,9301 bopd in 2022, corresponding to an average working interest production to PetroNor of 4,030 bopd1. At year-end, the Company had a crude oil stock of more than 240,000 bbls (Q4 2021: 24,235 bbls). Read More
TechnipFMC (NYSE: FTI) has been awarded a engineering, procurement, construction, and installation contract by Wintershall Dea Norge AS for its Dvalin North project.
The contract covers the design, engineering, manufacture, and installation of pipe for the Dvalin North field, which will be tied back to the Heidrun Platform via the existing Dvalin field on the Norwegian Continental Shelf (NCS). Jonathan Landes, President, Subsea at TechnipFMC, commented: “We previously installed subsea umbilicals, risers and flowlines in the Dvalin field, and this new contract builds on the success of our installed base there. We have a deep understanding of our client’s needs and a strong, collaborative relationship with Wintershall Dea.” Dvalin North was the second contract awarded to TechnipFMC by Wintershall Dea in 2022, following on from an iEPCI™ that will extend the life of the Maria field in the NCS. Read More
Occidental (NYSE: OXY) will announce its fourth quarter 2022 financial results after close of market on Monday, February 27, 2023, and will hold a conference call to discuss results on Tuesday, February 28, 2023, at 1 p.m. Eastern/12 p.m. Central. Read More
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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