Energy News to 27 Apr. 2022. OPEC daily basket price stood at $102.94/bl, 26 April 2022
Oil prices Up on Wednesday amid continued geopolitical tensions as Russia cuts gas supplies to Poland and Bulgaria until rouble payment demands are met.
The National Renewable Energy Laboratory’s (NREL’s) Wind Energy Controls Research Team announced the release of Version 3.0 of the FLOw Redirection and Induction in Steady State (FLORIS) wind farm controls software. FLORIS optimizes flow control strategies so that existing wind energy facilities can improve productivity and future projects can maximize profits. “This version of the open-source software represents a major redesign, rewrite, and enhancement,” said Paul Fleming, NREL researcher and principal investigator. “It’s much faster—100 times faster than Version 2.1 and 30 times faster than Version 2.4. It’s also more accurate and supports more varied computations.” FLORIS was developed by NREL and Delft University of Technology with support from the U.S. Department of Energy Wind Energy Technologies Office. Funding was also provided by the National Offshore Wind Research and Development Consortium. Read More
Poland’s biggest solar PV plant
The European Bank for Reconstruction and Development (EBRD) is lending PLN 212 million (€46 million equivalent) for the construction and operation of Poland’s biggest solar photo-voltaic plant at Zwartowo, an important step in strengthening Poland’s energy security and accelerating its move away from coal.
The Zwartowo plant will have total capacity of up to 285.6 MWp and is expected to lead to carbon dioxide emissions savings of at least 138,000 tonnes per year. The EBRD financing, in the shape of a senior secured loan and debt service reserve facility, will be part of a larger package co-financed by commercial banks PKO BP SA and Pekao SA. The project company is Stigma Sp. z o.o,, a special purpose vehicle incorporated in Poland and indirectly majority owned by Solarnet Investment GmbH. Solarnet is the investment arm of Goldbeck Solar Group, an existing client of the EBRD. Read More
Turkey’s ambitious new climate commitments
The EBRD has agreed a first transaction under a new financing facility that will benefit thousands of businesses and homeowners while strengthening the competitiveness of key Turkish companies and financial institutions.
Signed earlier in April, the transaction is part of a €500 million EBRD Green Economy Financing Facility (GEFF), which combines EBRD finance with around €21.5 million of concessional financing from the Clean Technology Fund (CTF) and about €7 million in grants for technical assistance from the CTF and the Turkey–EBRD Cooperation Fund, among others.
Participating banks and leasing companies will use the finance received through the facility to support individuals, businesses, vendors and producers of green materials and products with investments in high-performing green technologies. These financial institutions can also benefit from a technical assistance programme on corporate climate governance. This is the first time such a programme has been incorporated into a GEFF. Read More
OMCO Solar invested an additional $5 million into its solar manufacturing capabilities, bringing its total investment in equipment and tooling to $75 million. With more than 7 GW of true U.S. manufacturing capacity across four strategic locations (Alabama, Arizona, Indiana, Ohio), OMCO Solar offers its partners the highest quality racking and tracking solutions, shipped nationwide, with the shortest lead times in the industry.
The $5 million investment provides for equipment and tooling to enable the manufacturing of OMCO Origin™ Tracker Torque Tubes at OMCO Solar’s Indiana and Arizona locations. OMCO Solar’s expansion of their U.S. production will benefit their developer, EPC and construction partners, as the company continues to offer an efficient, reliable domestic supply chain. Read More
GIDARA Energy and the Port of Rotterdam announced GIDARA’s next advanced biofuels facility in The Netherlands: Advanced Methanol Rotterdam (“AMR”). Located in the Port of Rotterdam, the plant will convert non-recyclable waste into advanced methanol. The advanced methanol achieves CO2 emission reductions outlined in the Renewable Energy Directive II (RED II) and Fit-for-55 frameworks. The renewable fuel will replace fossil fuels, creating significant carbon savings. The Port of Rotterdam Authority has provided a unique site location in the port for this facility. Read More
Nissan Motor Co., Ltd. today announced its production, sales and export figures for March 2022 and the April 2021 – March 2022 period.
Global production in March declined 25.9% from a year earlier.
Production in Japan declined 43.9% from a year earlier.
Production outside Japan declined 22.1% from a year earlier.
April 2021 – March 2022
Global production in the April 2021 – March 2022 period declined 10.7% from a year earlier.
Production in and outside Japan declined year-earlier results by 13.8% and 10.2%, respectively.
Global sales in March declined 29.3% from a year earlier.
Sales including minivehicles in Japan declined 6.9% from a year earlier.
Sales of registered vehicles in Japan declined 8.3% from a year earlier.
Minivehicle sales in Japan declined 4.8% from a year earlier.
Sales outside Japan declined 33.1% from a year earlier.
April 2021 – March 2022
Global sales in the April 2021 – March 2022 period surpassed year-earlier results by 9.0%.
Sales including minivehicles in Japan declined 10.3% from a year earlier.
Sales of registered vehicles in Japan declined 1.1% from a year earlier.
Minivehicle sales in Japan declined 22.3% from a year earlier.
Sales outside Japan declined 8.8% from a year earlier. More
Lundin Energy’s E&P business with Aker BP, to create the leading European independent E&P company, approved by shareholders from both companies, with completion of the transaction anticipated on 30 June 2022
Johan Sverdrup Phase 2 processing platform successfully installed, with first oil firmly on track for the fourth quarter of 2022
Record quarterly revenue of BUSD 1.98 with an achieved oil price of USD 104 per barrel
Strong free cash flow of MUSD 822, operating costs in line with guidance at USD 3.7 per boe and net debt reduced to BUSD 2.1
Quarterly dividend increased by 25 percent to USD 0.5625 per share, payable until completion of the Aker BP transaction, approved by the 2022 AGM
Strong production performance of 191 Mboepd, towards the top of the guidance range for the quarter
Five new projects, including the large Wisting development, heading towards sanction by the end of 2022
Delivering on Lundin Energy’s Decarbonisation Plan with the recent completion of the Company’s first wind farm and electrification of Edvard Grieg on track for end 2022
Launch of Lundin Energy Renewables business, which is positioned for growth, with Daniel Fitzgerald as the proposed CEO More
TotalEnergies is further expanding its presence in the U.S. renewable energy industry by acquiring Austin-based Core Solar, LLC whose portfolio includes more than 4 GW of utility-scale solar and energy storage projects at various stages of development across several U.S. states and power markets. Core Solar’s CEO Greg Nelson and his employees will join TotalEnergies’ teams.
With this acquisition, TotalEnergies further develops its presence in the U.S. where it now has a portfolio of more than 10 GW gross capacity of renewable projects in operation, in construction and in development: Read More
PDI , a global provider of leading enterprise management software for the convenience retail and petroleum wholesale industries, has announced new solutions to help customers adapt faster to today’s ever-changing marketplace. Whether businesses need to accelerate their green initiatives, extend consumer access to loyalty programs, streamline fuel pricing decisions, or drive frictionless commerce, and more, the newest PDI products are designed to boost productivity and profitability across the entire supply chain.Innovations and growth across Consumer Engagement, Enterprise Productivity, and Security & Platform segments help simplify the industry’s complex technology ecosystem Read More
ExxonMobil has made three new discoveries offshore Guyana and increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels. The three discoveries are southeast of the Liza and Payara developments and bring to five the discoveries made by ExxonMobil in Guyana in 2022. The Barreleye-1 well encountered approximately 230 feet (70 meters) of hydrocarbon-bearing sandstone and was drilled in 3,840 feet (1,170 meters) of water. Drilling at Patwa-1 encountered 108 feet (33 meters) of hydrocarbon-bearing sandstone and was conducted in 6,315 feet (1,925 meters) of water. The Lukanani-1 well encountered 115 feet (35 meters) of hydrocarbon-bearing sandstone and was drilled in a water depth of 4,068 feet (1,240 meters). Operations are ongoing at Barreleye-1 and Lukanani-1. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $102.10 | Up |
| Crude Oil (Brent) | USD/bbl | $105.60 | Up |
| Bonny Light | USD/bbl | $104.60 | Up |
| Saharan Blend | USD/bbl | $104.94 | Up |
| Natural Gas | USD/MMBtu | $6.93 | Up |
| OPEC basket 26/04/22 | USD/bbl | $102.94 | Up |
Hess Corporation (NYSE: HES) today announced an increase in the gross discovered recoverable resource estimate for the Stabroek Block offshore Guyana to approximately 11 billion barrels of oil equivalent, up from the previous estimate of more than 10 billion barrels of oil equivalent. The updated resource estimate includes three new discoveries on the block at Barreleye, Lukanani and Patwa in addition to the Fangtooth and Lau Lau discoveries announced earlier this year.
The Barreleye-1 well encountered approximately 230 feet (70 meters) of hydrocarbon bearing sandstone reservoirs of which approximately 52 feet (16 meters) is high quality oil bearing. The well was drilled in 3,840 feet (1,170 meters) of water and is located approximately 20 miles (32 kilometers) southeast of the Liza Field.
The Lukanani-1 well encountered 115 feet (35 meters) of hydrocarbon bearing sandstone reservoirs of which approximately 76 feet (23 meters) is high quality oil bearing. The well was drilled in water depth of 4,068 feet (1,240 meters) and is located in the southeastern part of the block, approximately 2 miles (3 kilometers) west of the Pluma discovery.
The Patwa-1 well encountered 108 feet (33 meters) of hydrocarbon bearing sandstone reservoirs. The well was drilled in 6,315 feet (1,925 meters) of water and is located approximately 3 miles (5 kilometers) northwest of the Cataback-1 discovery. Read More
Equinor’s first quarter 2022 safety trend
The first quarter 2022 safety results show a stable trend in the number of serious incidents and with regards to personal injuries. No incidents with major accident potential have been recorded during the first quarter.
The serious incident frequency, SIF (number of serious incidents per million hours worked), is 0.5 at the end of the first quarter of 2022. Most of the serious incidents are related to dropped objects and lifting operations.
During the past 12 months the total recordable incident frequency, TRIF (number of injuries requiring medical treatment per million hours worked), is 2.4 per the first quarter of 2022. The number of serious injuries is also included in the serious incident frequency, SIF. Most injuries are hand and finger injuries. Read More
U.S. Rig Count is up 2 from last week to 695 with oil rigs up 1 to 549, gas rigs up 1 to 144 and miscellaneous rigs unchanged at 2.
Canada Rig Count is down 2 from last week to 101, with oil rigs down 1 to 48, gas rigs down 1 to 53.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 22nd April 2022 | 695 | +2 |
| Canada | 22nd April 2022 | 101 | -2 |
| International | March 2022 | 815 | — |
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.
