Energy News to 24 June 2022. OPEC daily basket price stood at $111.09/bl, 23 June 2022
In the Asia Pacific, Australia, with its vast areas where either sunshine or wind is in near-constant supply, is emerging as the region’s hub for green hydrogen production, which relies on renewable energy sources such as wind and solar to produce the fuel. Australian mining magnate Andrew Forrest is building a 2-gigawatt electrolyser and ammonia producing plant in the state of Queensland, with plans to use the project to kick-start green steelmaking. There are four other green hydrogen projects in the works in Australia, including a plant in Western Australia covering an area half the size of Belgium that is expected to have a generating capacity of up to 26 gigawatts (GW) – enough to produce 90 terawatt-hours per year (TWh), or about one-third of Australia’s total electricity production in 2020. Read More
On June 15, 2022, NIO held a Product Launch Event which premiered the ES7, a smart electric mid-large SUV, and the 2022 ES8, ES6, and EC6.
NIO ES7’s exterior showcases NIO’s latest design language with reductive lines and powerful proportions. It is also the first SUV application of the “Design for AD” ethos. The front fascia’s Shark Nose and Diamond cut plan view celebrate the pure X Bar design. NIO furthered its distinct SUV design language with sophisticated wheel arches, increasing ES7’s road presence. The double-dash DRL showcased in the front of ES7 is met by the “Air Wing” taillight that adds visual width. NIO ES7’s interior continues the vision of a “second living room” with sophistication and human touches. A wheelbase of 2960mm gives the ES7 a spacious cabin. The front cabin adopts the double-layer S-shaped instrument panel with expansive use of karuun® sustainable rattan. The ES7 interior is generous in width but especially with additional length in a wrap-around design. Front seats have heating, ventilation, and massage functions. Heated rear seats are standard with power-adjustable seatback between 23° to 31°. Read More
BYD, the world’s leading manufacturer of New Energy Vehicles (NEVs) and power batteries, has recently secured an order for four 18-metre articulated eBuses from public transport operator, Moventis, in Spain. A new customer for BYD, this is also the first ever order for articulated eBuses in the Iberian region, making the announcement even more significant. Moventis provides intercity passenger transport in the Vallés Occidental area, near Barcelona. The BYD pure-electric articulated buses on order are scheduled for delivery to Sant Cugat de Vallès towards the end of 2022. They will operate on working days in the Barcelona Province, encouraging more commuters in the region to use clean, eco-friendly bus services to and from work, rather than cars. The project is being financed by the Regional Railway System of Catalonia (FGC). It will provide commuters with a non-polluting bus service, linking Sant Joan station with surrounding industrial zones, where many large and well-known global enterprises are located. This initiative will see all four BYD 18-metre articulated eBuses enter service on working days, providing commuters with a convenient and reliable service, while also playing an important role in improving traffic management in the locality and reducing air pollution. Read More–>
BYD is the name behind the game-changing Blade Battery. The ultra-safe BYD Blade Battery used in all BYD passenger cars, is revolutionising the industry in terms of safety and battery density, to deliver the ultimate in EV performance.
Such performance is derived from the unique ‘array’ structure of the cells, in an ingenious design which also gives over 50% more space than traditional block batteries.
BYD Blade Battery has undergone stringent nail-penetration tests for safety with outstanding success, reaching a remarkably low 30°- 60°C without emitting smoke or fire, further endorsing its excellent safety credentials. As a result, BYD has become synonymous with technological innovation and engineering excellence, developing revolutionary products with proven reliability. Such is the extent of its successful growth, BYD now employs more than 40,000 engineers who are committed to designing the most efficient solutions for a brighter, better future. One distinct advantage is BYD’s unique capability for controlling the entire chain from raw materials, R&D and design, to manufacture, application and recycling. It is through this resource and expertise, that BYD is the first and only automotive manufacturer to produce its own powertrain system, battery, motors and motor control system. BYD’s proven NEV solutions reducing carbon footprints around the world
From electric passenger cars, to buses and trucks, BYD NEV solutions are making an impact around the world as the transition to electrification is fast gaining momentum across public, commercial and private transport sectors. Read More
Abu Dhabi National Oil Company (ADNOC) announced it has identified AED70 billion ($19 billion) worth of products in its procurement pipeline that could be manufactured locally. Out of this value, ADNOC signed agreements for local manufacturing opportunities worth AED21 billion ($5.7 billion) with UAE and international companies at the Make it in the Emirates Forum taking place in Abu Dhabi.
The agreements will see the companies set up and expand manufacturing facilities in the UAE as well as jointly explore with ADNOC the potential for new investments in local manufacturing.
The local manufacturing opportunities comprise of over 100 products which will be utilized across ADNOC’s full value chain as it expands its operations to cater for growing global energy demand. ADNOC aims to purchase these products between 2022 and 2030 and is inviting the private sector to take advantage of this pipeline and invest in the UAE’s manufacturing sector to produce the products locally. Read More
BW Energy has been notified that the Company’s offer to acquire the Golfinho and Camarupim Clusters offshore Brazil has been approved by the Petrobras Executive Board. The acquisition is expected to add approximately 9,000 barrels of oil per day of oil production from early 2023. The Golfinho Cluster has several proven low risk in-field development opportunities with short lead times and substantial potential long-term upside from proven gas accumulations.
The transaction is subject to fulfilment or waiver of conditions precedent with an expected closing and effective date in the first quarter of 2023.
Acquisition of 100% operated working interest (“WI”) in the Golfinho and Camarupim clusters and 65% WI in the BM-ES-23 block
USD 15 million in initial cash considerations and up to USD 60 million in contingent payments linked to oil price, well operations and further successful development of the acquired assets
The Company’s internal estimate is 38 million boe of proven recoverable resources, predominantly oil, of which 19 million boe developed and producing and 19 million boe undeveloped, defined infill opportunities
The Company has identified a further 0.7 Tcf of recoverable gas accumulations for potential future development
Establishing a solid working relationship with Brazilian regulators will unlock significant synergies ahead of the Maromba development
The transaction will be financed through BW Energy’s cash flow and existing liquidity
“Golfinho offers material ongoing production and cashflow in Brazil at an attractive price with significant upside potential in near-field exploration and phased developments. It will diversify our production base, accelerate the build-up of the local operating organisation and provide an established working relationship with Brazilian stakeholders ahead of the Maromba development,“ said Carl K. Arnet, the CEO of BW Energy.
The Golfinho Cluster is located at a water depth between 1,300 and 2,200 meters in the Espírito Santo Basin. Adjacent is the BM-ES-23 exploration block which holds the Brigadeiro gas and condensate discovery. The Camarupim Cluster is also adjacent and located in water depths between 100 and 1,050 meters, comprising the non-producing gas fields of Camarupim and Camarupim Norte. Read More
Woodside and Armada Balnaves Pte Ltd (Bumi) have been engaged in the Western Australian Supreme Court proceedings brought by Bumi (Armada Balnaves Pte Ltd v Woodside Julimar Pty Ltd CIV/1408/2016) with respect to Woodside’s termination in March 2016 of the services agreement for the Armada Claire
FPSO. The Supreme Court trial was held in February – March 2019. The Supreme Court found in favour of Woodside in January 2020 and dismissed Bumi’s claim.
Bumi subsequently appealed the Supreme Court’s decision to the Western Australian Court of Appeal (CACV/31/2020), and the appeal was heard in July 2021.
In a judgment issued today, the Court of Appeal has found in favour of Woodside and dismissed Bumi’s appeal. Read More
Wintermar Offshore Marine (WINS:JK) has invested US$12 million to acquire 3 Platform Supply Vessels and 3 Anchor Handling Tug Supply Vessels since November 2021, to gear up for new drilling cycle.
In the Public Expose on 24 June 2022, PT Wintermar Offshore Marine Tbk unveiled their growth strategy to position the Company for an anticipated upturn in drilling. As the global rig count has risen steadily over the past few months, Offshore Supply Vessel (OSV) utilization has improved globally and charter rates have started to pick up.
To raise the yield of the fleet, the Company has improved the fleet composition through the sale and reinvestment of certain vessels. 95% of the fleet is now concentrated into higher value vessels. Wintermar now has seven Platform Supply Vessels, three of which are undergoing docking for reactivation and should be ready for operations by 2H2022. This is timed in anticipation of a stronger 2023 as there has been an increase in project approvals for offshore drilling and corresponding rise in demand for OSVs. More
Eni Plenitude S.p.A. Società Benefit (“Plenitude”) today informed that the shareholder Eni S.p.A. (“Eni”) announced the postponement of the Initial Public Offering (the “Offering”) of ordinary shares of Plenitude, for the listing on Euronext Milan, a regulated market which is organized and managed by Borsa Italiana S.p.A..
Market conditions have deteriorated since Plenitude and Eni announced the Intention to Float on 9 June. While there was strong and widespread investor interest in Plenitude and important support for its strategy, it was concluded that the volatility and uncertainty currently affecting the markets require a further phase of monitoring.
Plenitude will continue to monitor market conditions and deliver their strategy of offering decarbonized energy to their customers, through the development of renewables and electric mobility investments. Read More
Organization of the Petroleum Exporting Countries (OPEC) will launch the 2022 edition of its Annual Statistical Bulletin (ASB) on Tuesday, 28 June 2022, at 10:00 (CEST) at the OPEC Secretariat in Vienna, Austria. The event will be held in a hybrid format.
The publication and its key highlights will be presented by OPEC Secretary General, HE Mohammad Sanusi Barkindo, followed by a presentation and a panel discussion with key analysts and experts involved in producing the ASB. A video featuring the publication’s highlights will also be shown during the launch. Dr Jakob Müllner, Associate Professor and Academic Director at the WU Executive Academy, the sponsor of the launch, will deliver remarks at the event’s opening.
First published in 1965, the ASB, one of the Organization’s flagship publications, continues to provide a broad range of statistics and figures on the global energy industry, particularly focusing on oil and natural gas, in addition to major key economic indicators, serving as a leading source of reliable data for officials, policymakers, industry experts, analysts, researchers, members of academia and other stakeholders. The publication features comprehensive annual data on the global oil and gas supply chain, particularly on OPEC’s 13 Member Countries.
The Secretary General said: “It is my utmost pleasure to announce the launch event of the 57th edition of OPEC’s Annual Statistical Bulletin. This flagship publication continues to serve as a key reference tool for the global energy industry and beyond.
“This year’s ASB comes at a time of heightened uncertainty in the energy markets and thus it will be an essential tool in helping meet the industry’s growing need for transparent, accurate and reliable data.”
The publication will be available as an interactive version and a PDF on the OPEC website, as well as through a smart app compatible with iOS and Android platforms. Further details in this regard will be available following the launch. Read More
Enova announced that Glomfjord Hydrogen, where Nel owns 23 percent of the shares, will receive up to NOK 150 million in funding as one of five maritime hydrogen hubs along the Norwegian coastline.
“This is great news for Glomfjord Hydrogen and Nel. The funding from Enova is crucial for the realization of the project.” says Nel’s CEO Jon André Løkke.
Glomfjord Hydrogen plans to establish a 20 MW hydrogen plant in Glomfjord in Meløy municipality for production of renewable hydrogen to customers in the maritime sector. The project, which is owned by Greenstat ASA, Meløy commune and Troms Kraft ASA in addition to Nel, was initiated in June 2016.
“The 20 MW hydrogen plant in Glomfjord will, if realized, be the same size as Europe’s currently largest hydrogen plant”, says Løkke, referring to Iberdrola’s hydrogen plant in Puertollano, Spain, where Nel also delivered the electrolysers.
“Glomfjord is a place with a long and proud industrial history in Norway, and until the 90s Glomfjord Industrial Park was the largest hydrogen production site in the world. It is therefore very gratifying that Glomfjord once again seems to become a new green hydrogen hub in Norway”, says Løkke.
Enova, which is a state enterprise owned by the Norwegian Ministry of Climate and Environment, also announced that four additional hydrogen hubs will receive funding. These projects will be located in Rørvik, Hitra, Florø and Kristiansand. Read More
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Three battery swap stations have started operation in the city so far, and the number is expected to increase to 20 by the end of this year, when the service radius of EVOGO will be less than 5 kilometers. Meanwhile, Contemporary Amperex Energy Service Technology Ltd. (CAES), CATL’s wholly-owned subsidiary, has joined hands with two local city partners, namely Anhui Lvzhou Technology and Youlu New Energy, to exploit the vast Hefei market. Read More
Mercedes-Benz Group AG has agreed to a partnership with ZYNC. The California‑based tech company will provide the world-first implementation of its premium in-car digital entertainment platform for Mercedes-Benz. By aggregating a wide range of owned and 3rd-party digital content onto a single turnkey platform, ZYNC will provide the platform as well as the interface between content partners and existing compatible Mercedes-Benz hardware. The aim of the partnership is to provide customers with a seamless digital entertainment experience tailored to the unique environment inside a Mercedes-Benz, while maximising the benefits of the company’s UI/UX technologies such as the MBUX Hyperscreen. Through ZYNC, Mercedes-Benz customers will be able to access to a wide range of renowned third-party global and local streaming services. The first application of ZYNC is planned for the end of this year in the EQS and S-Class in Europe, with rollout in further models and markets planned for 2023. Read More
Sun Cable’s Australia-Asia PowerLink, the massive solar and battery project backed by Australia’s two richest men, Andrew Forrest and Mike Cannon-Brookes, has cleared another important hurdle with a ringing endorsement of its economic merits from Infrastructure Australia.
The endorsement by Infrastructure Australia, a government agency, means the project can advance to the stage 3, “investment ready” status on its priority list, and means it is well placed to access funding from other government agencies such as CEFC and NAIF.
Sun Cable, if it goes ahead, will be the world’s biggest solar and battery storage project, with an ambitious plan to send most of its output 5,000km from its home on a Northern Territory cattle station to Darwin and then Singapore. Read More
Eni’s worldwide gas sales and supplies
Worldwide natural gas sales in 2021 amounted to 70.45 billion cubic metres. In 2021, LNG sales (10.9 bcm, included in the worldwide gas sales) increased by 14.7% from 2020 and mainly concerned LNG from Egypt, Qatar, Indonesia and Nigeria, and marketed in Europe and Asia. In 2021, the volume of natural gas supplied by Qatar amounted to 2.30 bcm. In June 2022, we were selected by QatarEnergy as a new international partner in the North Field East (NFE) expansion project. The Minister of State for Energy Affairs, President and CEO of QatarEnergy, Saad Sherida Al-Kaabi, and Eni CEO, Claudio Descalzi, signed the partnership agreement for the creation of the new Joint Venture company Read More
. Canada Rig Count is up 15 from last week to 156, with oil rigs up 10 to 104, gas rigs up 5 to 52.
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|17 June 2022
|17 June 2022
OilandGasPress Energy Newsbites and Analysis Roundup |Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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