Energy News to 23/10/22. OPEC daily basket price stood at $92.09/bl, 21 Oct. 2022
U.S. Rig Count is up 2 from last week to 771 with oil rigs up 2 to 612, gas rigs flat at 157 and miscellaneous rigs unchanged at 2.
Canada Rig Count is down 6 from last week to 210, with oil rigs down 6 to 144, gas rigs unchanged at 66.
The serious incident development in Equinor has improved in the third quarter of 2022, compared to our second quarter reporting.
The personal injury frequency during the past 12 months is flat. No incidents with major accident potential have been recorded in the third quarter.
The serious incident frequency, SIF, (number of serious incidents per million hours worked) was 0.4 at the end of the third quarter of 2022. More than half of these incidents were related to dropped objects.
The total recordable injury frequency, TRIF, (number of injuries requiring medical treatment per million hours worked) during the past 12 months was 2.4. Serious personal injuries are also included in the serious incident frequency.
Eight oil and gas leaks have been recorded during the past 12 months, a reduction from 12 at the end of 2021. Read More
A further six large ocean-going, methanol-fueled container vessels have been ordered by A.P. Moller – Maersk (Maersk) to ABS Class.
The order takes the total of dual-fuel engine vessels that can sail on green methanol on order from Maersk to ABS class to 19. These 17,000-TEU vessels will be built at Hyundai Heavy Industries, scheduled for delivery in 2025. When all 19 vessels on order are deployed and have replaced older vessels they will, when operating on green methanol, generate annual CO2 emissions savings of around 2.3 million tonnes.
“Decarbonization of shipping is a complex challenge with many moving parts. Green methanol is a promising fuel for the decarbonization of our industry and these vessels are a vital step in creating more sustainable global supply chains. ABS is proud to be able to use its insight into methanol as a marine fuel to support Maersk,” said Christopher J. Wiernicki, ABS Chairman, President and CEO.
“All vessels we currently have on order will be able to operate on green methanol, which we see as the best scalable green fuel solution for this decade. We look forward to build on the current momentum and continue the cooperation with ABS on our path to decarbonizing our fleet,” said Palle Laursen, Chief Fleet & Technical Officer at Maersk. Read More
ABS has awarded approval in principle (AIP) to Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) for its hybrid power system, a configuration previously limited to smaller vessels in the maritime marketplace, to aid large liquified natural gas (LNG) carriers.
The hybrid power system configuration includes a Battery Energy Storage System (ESS) and Shaft Generator within an existing power source that will allow the LNG carriers to access hybrid power when needed most such as spinning reserve or peak shaving.
With DSME’s test facility for ship research and development, the hybrid system, already in use in the industry to support smaller vessels such as ferries, was successfully applied to large LNG vessels. With the AIP from ABS, it is now possible to reduce dependence on the generator engine and improve fuel efficiency by including a solution that can improve the performance of the DSME shaft generator. The approval process included review of the ship’s internal arrangement, function, risk analysis, and operation scenarios reflecting actual electrical loads.
“Hybrid electric power systems offer the opportunity to improve safety, reliability, operational efficiency, and reduce the fuel consumption, environmental footprint, and equipment maintenance when compared to traditional electrical power systems. We are delighted to work together with DSME on these innovative projects. Being able to apply hybrid power systems to large vessels like LNG carriers is another step forward in the drive to meet IMO sustainability goals,” said Gareth Burton, ABS Vice President, Technology. Read More
Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), announced that Port Arthur LNG and Bechtel Energy have amended and restated the fixed-price engineering, procurement and construction (EPC) contract, for the proposed Phase 1 liquefaction project under development in Jefferson County, Texas. The amended contract includes an updated price of approximately $10.5 billion.
“We are excited to achieve this milestone with Bechtel. The execution of the final contract is a critical step in advancing Phase 1 of Port Arthur LNG toward a final investment decision,” said Justin Bird, CEO of Sempra Infrastructure. “Based on robust customer interest, we know that Port Arthur LNG is highly attractive to the global market and we look forward to providing customers with access to secure, abundant and reliable U.S. LNG.”
“We are delighted to continue our partnership with Sempra Infrastructure to deliver cleaner and more affordable energy to communities around the world. Alongside Sempra Infrastructure, Bechtel is ready to continue active construction in the Gulf Coast and bring more opportunities to the local region,” added Paul Marsden, President of Bechtel Energy. Under the EPC contract, Bechtel will perform the detailed engineering, procurement, construction, commissioning, startup, performance testing and operator training activities for Phase 1 of the project. The Port Arthur LNG Phase 1 project is permitted and expected to include two natural gas liquefaction trains and LNG storage tanks, and associated facilities capable of producing, under optimal conditions, up to approximately 13.5 million tonnes per annum of LNG. A similarly sized Port Arthur LNG Phase 2 project is also competitively positioned and under active marketing and development. Read More
Equinor will on 24 October, on behalf of the partners, issue a complementary assessment for the Wisting development for public consultation.
The complementary assessment provides more details on how the field can be developed and operated in a safe and secure manner.
“The complementary assessment elaborates some key subjects from the impact assessment, strengthening the decision-making basis for a safe and secure field development,” says Trond Bokn, Equinor’s senior vice president for project management control. Read More
GM announced a new energy venture to support its electric vehicle (EV) market in a move that mirrors Tesla’s approach. But will this become the norm for automakers in the U.S.? As new all-electric vehicle ranges require an expansive supporting network – including battery production, mineral mining, charging stations and much more, automakers are looking to expand their role and break into the energy industry to future-proof their vehicle businesses. The EV company Tesla Motors is viewed by many as more than just an automaker, crossing over into the energy and tech industries with its products and services. From early on, Tesla launched a charging network, now with over 30,000 Global Superchargers where drivers can charge their Tesla cars in around 15 minutes, to support EV uptake at a time when it was less common. Tesla established its energy generation and storage business in 2015, launching a range of home batteries, which could be charged using solar power, providing a backup to the main grid. In addition, Tesla has developed a series of solar panels and full solar roofing.
Tesla also decided to buck the trend of traditional automakers by selling its vehicles directly to consumers, rather than through franchised dealerships. Tesla’s founder Elon Musk has gained a wide following for his innovative designs and decisive leadership, much in the same way as several major tech companies. His foray into space travel has made him more popular than ever, with people watching to see what he’ll create next. Read More
Agrivoltaics – the practice of using land for both solar energy and agriculture – is on the rise across France.
In the Haute-Saône region, in the northeastern part of the country, an experiment is being conducted by solar-energy company TSE. It is hoping to find out whether solar energy can be generated without hindering large-scale cereal crops.
Previous attempts to experiment with agrivoltaics have been through smaller-scale projects. But, keen to see if it can thrive on an industrial level, 5,500 solar panels are being spread over this farm in the commune town of Amance by TSE. Read More
Electrify America recently unveiled its first application of a megawatt-level battery energy storage system (BESS) for electric vehicle (EV) charging stations, building upon the company’s existing BESS installations at over 150 stations across the U.S., including more than 100 installations in California.
The megawatt-level energy storage system combined with a solar canopy goes a step further than Electrify America’s existing BESS in managing energy costs and reducing stress on the grid by acting as a buffer to supplement power to charging stations when local utilities limit the amount of power a station can draw from the grid. This application leverages energy storage and solar as a ‘non-wires alternative’ in lieu of relying on additional utility ‘wired’ infrastructure (i.e. power lines) that may not be feasible. Such innovative approaches become critical to expand EV charging into more remote areas to reach more consumers where utilities may not be able to deliver the capacity needed to install or expand charging infrastructure. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $84.01 | Up |
| Crude Oil (Brent) | USD/bbl | $92.50 | Up |
| Bonny Light | USD/bbl | $92.40 | Down |
| Saharan Blend | USD/bbl | $93.78 | Up |
| Natural Gas | USD/MMBtu | $4.81 | Down |
| OPEC basket 21/10/22 | USD/bbl | $92.09 | Down |
Baker Hughes Rig Count
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 21 October 2022 | 771 | +2 |
| Canada | 21 October 2022 | 210 | -6 |
| International | September 2022 | 879 | +19 |
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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