Energy News to 22 Apr. 2022. OPEC daily basket price stood at $108.81/bl, 21 April 2022
Norway, raised its natural gas production by nearly 6 percent in March compared to March 2021, exceeding forecasts by 6.3 percent, the Norwegian Petroleum Directorate (NPD) said on Thursday
TechnipFMC announced that it has commenced a tender offer (the “Tender Offer”), subject to certain terms and conditions, for up to $320 million aggregate principal amount (the “Maximum Tender Amount”) of its 6.500% Senior Notes due 2026 (the “Notes”).
In connection with the Tender Offer, the Company also commenced the solicitation of consents (the “Consents”) of holders with respect to the Notes (the “Consent Solicitation”) to certain proposed amendments to the indenture for the Notes (the “Proposed Amendments”) described in the Statement (as defined below). The Proposed Amendments will, if adopted, among other things, eliminate substantially all of the restrictive covenants and certain events of default in the indenture. Effectiveness of the Proposed Amendments is subject to certain conditions described in the Statement, including receipt of the requisite number of Consents and the condition that the Notes validly tendered and not validly withdrawn in the Tender Offer are not subject to proration. The terms and conditions of the Tender Offer and the Consent Solicitation are set forth in an Offer to Purchase and Consent Solicitation (the “Statement”), dated April 20, 2022. The Company intends to fund the Tender Offer with cash on hand. The following table summarizes the material pricing terms of the Tender Offer: Read More
Subsea 7 S.A. announced that on 20 April 2022, the Company has transferred 30,117 shares held in treasury to satisfy employee share awards under the Company’s Long-term Incentive Plan.
Following the above transfer, the number of common shares held in treasury is 7,004,900 representing 2.33% of the Company’s issued common shares. The total number of shares in issue, including treasury shares, is unchanged at 300,000,000. Read More
Neste will publish its first quarter 2022 results on Friday, 29 April 2022 at approximately 9 a.m. (EET). The release will be available on the Neste website immediately after publishing.
A conference call in English for investors and analysts will be held on 29 April 2022, at 3 p.m. Finland / 1 p.m. London / 8 a.m. New York. The call-in numbers are as follows: Finland: +358 (0) 9 2311 3291, rest of Europe: +44 (0) 20 7192 8338, US: +1 646 741 3167, using access code 7073525. Read More
Dana Incorporated (NYSE: DAN) announced today that its board of directors has declared a dividend on its common stock. The board declared a quarterly dividend of $0.10 per share, payable May 27, 2022, to holders of Dana common stock as of May 6. Read More
The Myanmar Government will accelerate development of hydrocarbon and renewable energy even as it repairs power lines damaged by terrorists while seeking to increase foreign investments despite the threat of fresh economic sanctions, the Ministry of Information (MOI) and Ministry of Investment and Foreign Economic Relations (MIFER) announced. MOI Minister Mr Maung Maung Ohn and MIFER Minister Mr Aung Naing Oo issued the joint statement in response to recent media reports about energy shortages in the country and exits of some foreign energy companies, and fresh sanctions against Myanmar announced in recent months. Read More
Lake Resources NL is providing a clean solution to the delivery of high quality lithium into the battery materials supply chain powering the energy transition. Lake uses disruptive, direct extraction technology (DLE) from its partner, Lilac Solutions Inc in California (Lilac), who is earning into the flagship Kachi Project, for efficient production of high purity lithium with significant ESG benefits. No mining is involved in the brine processing. Production from the flagship Kachi Lithium Brine Project is targeted to commence in 2024 at a rate of 50,000 tpa lithium carbonate. Kachi is indicatively financed into production with long dated low cost project finance from the UK Export Finance and Canada’s EDC for approximately 70% of the total finance required for Kachi’s development, subject to standard project finance terms (ASX release 11 Aug 2021). Lake’s development plan uses a cost-effective DLE method that enables Lake to come to market quickly at significant scale with strong ESG benefits, a low carbon (CO2) footprint, low water and low land use. More
Clean lithium developer Lake Resources NL advises an offtake of approximately
25,000 tonnes per annum (tpa) of lithium from the Kachi Project has been signed in a non-binding Memorandum of Understanding (MoU) with Ford Motor Company (Ford). “As we’ve shared, Ford is sourcing deeper into the battery supply chain,” said Lisa Drake, Ford’s vice president, EV Industrialization.
“This is one of several agreements we’re exploring to help us secure raw materials to support our aggressive EV acceleration,” she said.
“Both Lake and Ford see this as an opportunity for a potential long-term agreement with the ability to scale up environmentally responsible production and participate in Lake’s other projects to ensure high-quality lithium products are available to Ford,” Steve Promnitz, Lake’s Managing Director, said.
“This MoU with Ford supports Lake’s strategy to be a key independent supplier into global lithium supply chains and ensure the security of supply to customers.” Lake’s Chairman Stu Crow said project financing was becoming increasingly tied to ESG credentials and that investors, debt providers, and off-takers and their customers are demanding that new lithium projects adhere to strict ESG standards. More
Energy Helpline collapses
Comparison site Energy Helpline has become the latest casualty of the energy crisis after collapsing into administration.
The 20-year-old website provides a free energy switching service to help customers find the best gas and electricity deal. But soaring energy prices prompted suppliers to withdraw their cheapest tariffs in September. And since then, consumer experts have advised households against switching. Read More
Seafarers will be able to enjoy 33% extra talk-time on FleetBroadband and Fleet Xpress ChatCards from 14 April 2022, 00:00 UTC until 20 April 2022, 23:59 UTC.
In addition, all 1GB and 5-hour new Fleet Hotspot allowances purchased by seafarers from the Fleet Hotspot portal onboard during the same period will be available for US$10 instead of the usual US$15. Dedicated Wi-Fi portal
Dedicated Wi-Fi portal
Powered by our industry-leading Fleet Xpress service, Fleet Hotspot is completely independent from a vessel’s bandwidth to give crew the freedom to access a dedicated Wi-Fi portal and manage internet access on their own devices, eliminating the need to find a PC or wait in line to talk to loved ones. Read More
The board of the directors of the Company (the “Board”) is pleased to confirm Group PMS International (“PMS”) and SulNOx have joined forces to drive decarbonisation in Europe and North Africa.
PMS is a long established, Spanish multinational based in Barcelona, with subsidiary companies in Algeria and Morocco and business operations in Tunisia, Nigeria, Angola, Cameroon, Ghana and Senegal. As the first foreign company to create a distribution company in Algeria, PMS have more than 50 years’ experience as a leader in commodity and specialty chemical distribution in the Magreb region.
Benoît Dagorne responsible for international business development at PMS said of the partnership: “PMS are committed to the sustainable development of not only our company, but our clients across Europe and Africa. SulNOx provides our extensive and significant client base with green solutions to dramatically reduce emissions and fuel consumption.
PMS strives to strengthen the commercial activities of our partners that we represent, and we are proud to represent SulNOx’s innovative products to our clients.” Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $103.00 | Down |
| Crude Oil (Brent) | USD/bbl | $107.60 | Down |
| Bonny Light | USD/bbl | $106.80 | Down |
| Saharan Blend | USD/bbl | $109.09 | Up |
| Natural Gas | USD/MMBtu | $6.92 | Down |
| OPEC basket 21/04/22 | USD/bbl | $108.81 | Down |
Lloyd’s Register Certifies that various marine fuels containing the recommended doses of SulNOxEcoTM Fuel Conditioner continue to meet ISO 8217 standards (Aquis Stock Exchange: SNOX)
The board of the directors of the Company (the “Board”) is pleased to confirm that Lloyd’s Register Fuel Oil Bunker Analysis and Advisory Service (“FOBAS”) has carried out an impact assessment of distillate and residual fuels before and after SulNOxEco™ Fuel Conditioner and certified that the impact of the SulNOxEco™ Fuel Conditioner on ISO 8217 test parameters is minimal and do not change the fuel characteristics when added to the marine fuel at prescribed dosage rate.
New certification for widely used marine fuels and potential solution for imminent regulation: Six separate fuel samples were tested. Three light, distillate marine (DM) fuels and three heavier, more viscous residual marine (RM) fuels, akin to Very Low or Ultra Low Sulphur Fuel Oil (“VLSFO/ULSFO”), previously not independently certified with SulNOxEco™ Fuel Conditioner. 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.
