Energy News to 12/01/23 . OPEC daily basket price at US$78.23/bl, 11 Jan. 2023
Makers of electric cars are slowing down UK production as the vehicles are too expensive for many motorists.
It is now expected that the UK will produce 280,000 fully electric cars and vans in 2025, down from previous estimates of 360,000.
The forecast means only a quarter of car output will be electric within the next two years, lower than prior forecasts of more than a third.
In its latest report, the Advanced Propulsion Centre, which provides taxpayer funding to makers of zero-emissions vehicles, said the ‘uncertain economy’ was expected to push drivers towards cheaper car models for a longer period. Read More
Shell has made a gas discovery in an exploration well in the North Sea, which was spudded using a Noble-owned rig.
Shell hired Maersk Drilling, now part of Noble Corp., to provide the Maersk Resilient – currently called Noble Resilient – harsh-environment jack-up rig to carry out the drilling of the Pensacola well and seabed operations for the placing of this rig were slated to start towards the end of July. At the end of October, plans were revealed to spud this well in mid-November 2022. The drilling operations at this gas prospect started in November 2022. This well 41/05a-2 is located in license P2252, which Shell operates with a 65 per cent interest while Deltic Energy (30 per cent) and ONE-Dyas (5 per cent) act as its partners. Read More
Stellantis N.V. announced the establishment of Mobilisights, an independent business unit, fully dedicated to growing the Company’s data as a service (DaaS) business and developing and licensing innovative B2B products, applications and services. Mobilisights products will be available to a diverse set of entities, including private enterprises, public-sector utilities, education and research institutions, fostering data-driven decision making and enabling a wide-ranging portfolio of applications and services.
As one of the seven accretive business units announced in the Dare Forward 2030 strategic plan, Mobilisights represents an important step in Stellantis’ efforts to grow and accelerate its software and data business. Read More
7 reasons for using Roxtec seals for battery storage.The seals also allow for efficient environmental management ensuring optimum operating conditions. Roxtec seals are certified to prevent fire, flames, smoke, and heat from spreading.Roxtec cable transit devices are certified for use in potentially explosive atmospheres and provide blast protection.Roxtec BG™ solutions and easily seal, bond, and ground multiple armored and metal clad cables in one opening. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $77.35 | Up |
| Crude Oil (Brent) | USD/bbl | $82.58 | Up |
| Bonny Light | USD/bbl | $82.27 | Up |
| Saharan Blend | USD/bbl | $81.92 | Up |
| Natural Gas | USD/MMBtu | $3.75 | Up |
| OPEC basket 11/01/23 | USD/bbl | $78.23 | Up |
Ubitricity, has introduced a peak pricing period between 4pm and 7pm to try and smooth out the demand on the grid.
Users who charge in these peak hours will now be charged 79p per kWh, compared to the previous flat fee of 49p per kWh. For the remaining 21 hours of the day, the cost falls to 45p. Drivers who want to plug in and leave their car before the peak period starts can use the company’s website to schedule charging to begin after the peak has ended at 7pm. This pricing update will affect direct access only (customers who scan the QR code at the point to start their charge). For users who access Ubitricity using a Shell Recharge app or card, there is no peak pricing, and instead a standard price increase to a flat rate of 55p per kWh to use the same points. Read More
Paradigm Flow Services Limited (Aberdeen UK) 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
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 |
QatarEnergy announced the Final Investment Decision (FID) with Chevron Phillips Chemical Company LLC (CPChem) to build the Ras Laffan Petrochemicals complex – a $6 billion integrated olefins and polyethylene facility at Ras Laffan Industrial City.
The announcement was made in Doha in a special ceremony during which His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and Mr. Bruce Chinn, the President and CEO of Chevron Phillips Chemical, signed the agreement for a joint venture company to implement the project, in which QatarEnergy will own a 70% equity share, and CPChem will own a 30% share. The signing ceremony was attended by Mr. Mark Lashier, the President and CEO of Phillips 66, and senior executives from QatarEnergy and CPChem. Read More
Governor Kathy Hochul is proposing to make New York the first state in the US to ban natural gas heating and appliances in new buildings, the latest salvo in an ongoing nationwide fight over the fuel.Hochul called during her state-of-the-state address Tuesday to ban the use of fossil fuels by 2025 for newly built smaller structures and 2028 for larger ones. New York would also prohibit the sale of any new fossil-fuel heating systems starting in 2030.“Buildings are the largest source of emissions in our state, accounting for a third of our greenhouse gas output,” Hochul said in her prepared remarks. Read More
Eni S.p.A. (“Eni” or the “Issuer”) (Baa1 Moody’s / A- S&P / A- Fitch) announces the launch of the offer of its first sustainability-linked bond for Italian public (the “Bond” or “Eni Sustainability-Linked Bond 2023/2028”) starting on January 16, 2023 (the “Offer”). The Bond will have 5-year maturity for a maximum aggregate amount of Euro 1 billion. This amount may be increased up to Euro 2 billion in case of excess of demand.
Consob has approved today the prospectus relating to the Offer and to the admission to listing on the MOT of Eni Sustainability-Linked Bond 2023/2028 (the “Prospectus”).
The Bond, which will be entered into the centralized management system at Euronext Securities Milan (Monte Titoli) in dematerialized form, has been admitted by Borsa Italiana to listing on the MOT, where the investors will be able to trade the Bond after issue. The issue was approved by the Board of Directors of Eni on October 27, 2022. The Bond will enable Eni to pre-fund potential future financial needs, to maintain a well-balanced financial structure and to further diversify financial sources.
The assignment of credit ratings for the Bond has been requested to Moody’s, S&P e Fitch. Read More
Scientists have developed a way of transforming plastic waste and greenhouse gases into sustainable fuels using solar power. The system, developed by researchers at the University of Cambridge, could address plastic pollution and become a “game-changer” in the development of a circular economy.The technology can transform two streams of waste – greenhouse gases and plastic – into two sustainable fuels – syngas and glycolic acid – at the same time. Read More
The commodity experts have forecast that demand growth in 2023 will clock in at 1.04 million barrels per day (mb/d), with non-OECD countries providing all but 9 thousand barrels per day (kb/d) of that. Demand is expected to be stronger in the second half of the year, with H2 demand coming in at 101.1mb/d, 1.7mb/d higher than the H1 average. The analysts say much of that growth will come from the Asia-Pacific region where they have predicted that growth will accelerate from 177kb/d in 2022 to 852kb/d in 2023, with China seeing demand growth of 483kb/d compared to a 350kb/d decline in 2022. Read More
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 network of Esso-branded retail stations, delivering on its commitment to strengthen value and overall competitiveness. The transaction will be executed by ExxonMobil’s affiliate, ExxonMobil Asia Holdings Pte. Ltd, which holds 65.99% interest in Esso Thailand.The transaction is expected to close in the second half of 2023, subject to standard conditions and applicable legal requirements, including approval from regulatory authorities. Read More
The Central Bank of Nigeria (CBN) in its Economic Report for October, 2022 , showed that export receipts rose YoY by 14 percent to $54.21 billion in 2022 from $47.46 billion in the corresponding period of 2021. The report also shows that merchandise imports rose YoY by 1.47 percent to $42.61 billion in 10 M’22 from $41.99 billion in the period. In the report, CBN noted that Nigeria’s trade surplus fell month-on-month (MoM) by 93.7 percent to $50 million in October 2022 from $750 million in September 2022 amidst higher import bills. Read More
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
Disclaimer: News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Information posted is accurate at the time of posting, but may be superseded by subsequent press releases
Please email us your industry related news for publication info@OilAndGasPress.com
Follow us: @OilAndGasPress on Twitter |
Oil and gas press covers, Energy Monitor, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar, Marine, Aviation, Fuel, Hydrogen, Electric ,EV, Gas, energy monitors,
