Energy News to 30/09/22. OPEC daily basket price stood at $92.76/bl, 29 Sept. 2022
Norway and Denmark will increase security and surveillance around their energy infrastructure sites after the alleged sabotage of Russia’s Nord Stream gas pipeline in the Baltic Sea. The Petroleum Safety Authority Norway (PSA) has received a number of warnings/notifications from operator companies on the NCS concerning the observation of unidentified drones/aircraft close to offshore facilities. It has urged all operators and vessel owners on the NCS to show increased vigilance.
Cases where drones have infringed the safety zone around facilities are now being investigated by the Norwegian police. Questions about these incidents must be addressed to the south-west Norway police district. Read More
A fourth leak has been uncovered in the Nord Stream gas pipes which are thought to have been blown up in an act of Russian sabotage earlier this week.
The newest leak has been located in the Nord Stream 2 pipe, close to a larger hole discovered in Nord Stream 1 a few days ago. It means there are now two holes in each pipe, two of which are located in Swedish waters and two in Danish waters, Sweden’s coastguard said today.
Emergency crews are continuing to inspect the gas lines ahead of a mission below the waves to try and stop them leaking thousands of tons of gas into the Baltic Sea and work out what exactly happened – though that is unlikely to happen before next week. Finding answers will take longer still. Read More
Shipping had been warned of risk of floating mines from the Ukraine-Russia war, with vital grain shipments also possibly threatened.
Drifting naval mines represent a threat to maritime traffic operating in the southwest region of the Black Sea, according to the NATO Shipping Centre (NSC), which earlier this month was moved to issue a direct warning to vessels transiting the area, with numerous instances recorded.
Issued on 12 September, the NSC stated that drifting naval mines had been “detected and deactivated” in the western Black Sea by “coastal nations authorities”, while there had been a confirmed sighting of another mine adrift on the currents. An additional stray mine had been detected and neutralised on 8 September in the southwestern Black Sea region. Read More
Moody’s 2022 Cyber Heat Map:
About $22 trillion, or 28% of the $80 trillion in collective rated debt associated with 71 global rating sectors, has High or Very High cyber risk exposure. This is an increase of about $1 trillion compared with our 2019 heat map, which covered sectors with a combined $78 trillion in rated debt
In compiling the scores for this heat map, we evaluated two equally rated factors: cyber risk exposure and mitigation
Critical infrastructure – including electric, gas and water utilities and hospitals – faces very high cyber risk exposure
Banks, telecommunications, technology, chemicals, energy and transportation services face high cyber risk exposure
Increased digitization fuels rising cyber risks but estimated financial losses are low
“Cyber risk is rising. However, we are witnessing correlated growth in robust security program investments, as industries prioritize the need to assess and quantify the risk to inform key strategy decisions, mitigate supply chain risk, and ensure investor confidence,” said Steven Libretti, Analyst and lead author of the report. Read More
KBR (NYSE: KBR) announced today that it will be shaping innovative future solutions to critical UK nuclear infrastructure following a contract award that advances its support in the sector. Through the three-year agreement, KBR will deliver expert project, program and portfolio support to UK Nuclear Waste Services (NWS), part of the UK’s Nuclear Decommissioning Authority (NDA).
The contract will leverage KBR’s decades of experience and growing domain knowledge of the nuclear energy sector, including the deep technical expertise provided by Frazer-Nash Consultancy, a wholly owned KBR subsidiary. KBR will coordinate work across the Geological Disposal Facility program of work within NWS, including project management, communication and community engagement support, technical design, and digital and transformation strategy development. “This work underlines our commitment to an ever-growing and increasingly important area of national critical infrastructure,” said Paul Kahn, President of KBR’s Government Solutions International business. “It will leverage KBR’s expanding capabilities in the UK, and it aligns with our mission to deliver innovative solutions that help our customers accomplish their most critical business objectives with safety and sustainability at the core.”
KBR has been part of the nuclear energy landscape for more than half a century. In recent years, the company has significantly strengthened its presence in the sector, growing from less than 200 people supporting UK nuclear energy projects in 2020 to more than 850 in 2022 — all the time expanding its footprint and subsequent support of local communities across the UK. Read More–>
Packaging Corporation of America (PCA), headquartered in Illinois, has agreed to pay $2.5 million in civil penalties to resolve allegations that it violated the Clean Air Act’s General Duty Clause and Risk Management Program Regulations at its containerboard production mill in DeRidder, Louisiana.
In the complaint, filed this week with the proposed settlement, the United States and the Louisiana Department of Environmental Quality (LDEQ) allege nine Clean Air Act violations that stem, in part, from a fatal explosion and accidental release at the DeRidder mill on Feb 8, 2017. The explosion – which killed three workers and injured seven others – launched a 100,000-gallon storage tank into the air and over a six-story building before it landed on mill equipment approximately 400 feet away. The blast also caused property damage and released extremely hazardous substances into the environment. The Environmental Protection Agency (EPA) inspected the DeRidder mill after the explosion, and uncovered additional Clean Air Act violations.
“This case demonstrates the tragic impacts to human life and the environment that can result from failures to follow appropriate chemical accident prevention and preparation requirements,” said Larry Starfield, Acting Assistant Administrator for EPA’s Office of Enforcement and Compliance Assurance. “This settlement both holds the Packaging Corporation of America accountable for failures that contributed to this accident and sends a clear message to corporations across the country on the importance of implementing appropriate chemical safety measures.” Read More
U.S. Environmental Protection Agency (EPA) announced it would nearly double the funding awarded for clean school buses this year following increased demand, with school districts from all 50 states applying for the 2022 Clean School Bus Rebates. This is the first round of funding from the EPA Clean School Bus Program, which President Biden’s Bipartisan Infrastructure Law created with a historic $5 billion investment for low- and zero-emission school buses over the next five years. Read More
Neste announced that it would merge the company’s wholly-owned subsidiary Neste Engineering Solutions Oy (NES) into Neste Corporation. The plan has now been completed and the merger will take place on 1 October 2022.
The merger affects only the Finnish operations. The entire NES personnel in Finland transfers to Neste Corporation. NES’ business will be conducted by the Engineering Solutions unit starting from 1 October 2022. Engineering Solutions and Neste Engineering Solutions offer high quality technology and engineering services, including among others engineering, procurement and project management services for oil & gas, petrochemicals and bio based industries. Engineering Solutions operates in Finland, whereas NES’ businesses in Singapore and in the Netherlands continue operating as Neste Engineering Solutions. Neste will continue assessing whether it is beneficial and feasible to also combine Neste Engineering Solutions’ businesses with Neste in the Netherlands and Singapore Read More–>
Torgrim Reitan has been appointed Chief Financial Officer and executive vice president in Equinor , with effect from 6 October 2022.
Reitan succeeds Ulrica Fearn who has decided to leave the company to pursue a CFO opportunity outside the company. Ulrica Fearn will be available to secure a good hand over to her successor until further notice.
“I am very pleased to welcome Torgrim back to the Corporate Executive Committee. Torgrim has a very strong background to take on the complex challenge as CFO in Equinor, as we progress our ambition to be a leading company in the energy transition. In the current energy crisis, it is a definite strength to have Torgrim in my top management team, with his experience as CFO, from our upstream business, from trading and operations of natural gas, and lastly from the acceleration of growth in our renewables business,” says Anders Opedal, president and CEO of Equinor. Read More
TechnipFMC (NYSE: FTI) will issue its third quarter 2022 earnings release after the close of the New York Stock Exchange on Wednesday, October 26, 2022. The Company will also host its third quarter 2022 earnings conference call on Thursday, October 27, 2022, at 1 p.m. London time (8 a.m. New York time).
The event will be webcast live Read More
Citroën has just unveiled a new battery electric concept car it says will help make electric vehicles (EVs) more accessible and practical for families.
Given its odd shape, you’d be forgiven if it reminded you somewhat of the “Cybertruck” US electric carmaker Tesla unveiled nearly three years ago with a similar promise of affordability.
At first glance, the Citroën “oli” (pronounced all-e, for all-electric) looks unconventional with its boxy silhouette and its vertical windshield, which makes it difficult to tell from the outside what is the front and what is the back of the car. The oli weighs just around 1,000 kg, its top speed is limited to 110 km/h, and it’s expected to have a range of 400 km. It can be recharged to 80 per cent in less than half an hour. Citroën and ubitricity, a Member of the Shell Group, have signed a cooperation agreement to make e-mobility more accessible for drivers in European cities. The collaboration aims to encourage drivers to switch to electric vehicles (EVs) and help more cities to offer on-street EV charging to their residents. The aim is to bring awareness to alternative mobility options that support the energy transition by cooperating with innovative solution providers to offer a full-service package for drivers as well as local authorities.
Starting in London, the collaboration will help buyers of Citroën’s AMI to recharge at on-street parking when it launches in September 2022. Drivers who purchase a new Citroën AMI will receive free charging for 3 months at ubitricity’s EV charging network of over 5,500 lamp post EV chargers across the greater London area and a growing list of other UK locations. To start a free charging session, AMI drivers can activate their discount with an individual code in the Shell Recharge app. Read More
Westminster council has appointed Siemens to install a network of an additional 500 ubitricity electric vehicle (EV) charge points in the borough by the end of March 2023.The additional charge points are set to grow to the council’s impressive existing network of over 1,500 charge points to more than 2,000.
The charge points, which are installed directly into existing street lampposts, charge at a speed of up to 5kW and take just under 2 hours to install. The rollout is planned to be installed into key residential and commercial locations, allowing residents to easily charge hybrid and electric vehicles on the street where they live. The council’s goal is to make EV charging accessible for everyone, with a particular focus on the residents in Westminster who do not have access to private off-street parking and charging.
Lack of accessible public EV charging points is a common barrier to EV adoption, which is why Westminster council is also reaching out to the community and asking residents to request an EV charge point near to them using an online form. Read More
Argus European Crude Conference – Geneva 04 October – 05 October 2022
From changing trade flows to transition initiatives – the new oil playbook After a few years apart we are delighted to reunite with Europe’s oil market leaders in Geneva, 4–5 October at the 2022 Argus European Crude Conference – Geneva.
Network back in-person with energy majors, refiners, NOCs, traders, financial institutions and other representatives from across the global oil markets. Oil markets have experienced great volatility and change over the past few years.
From changing crude supply, demand and pricing dynamics, global trade relations and the push towards net-zero, the 2022 event will provide you with the insight you need to help you stay ahead of shifting trends. Register here: Read More
Wood has been awarded a multi-region engineering services contract by bp to support efficient and safe energy production through the provision of asset repairs, modifications and enhancements.
The five-year reimbursable contract, valued at around $350m, will be delivered via agile working methods to optimise cost and delivery performance, enabling operational efficiencies to be realised across bp’s offshore installations.
This agreement renews Wood’s existing contracts in the regions to support bp to produce energy safely, efficiently, and reliably, as the world contends with the dual challenges of energy security and transition.
Craig Shanaghey, Executive President of Operations at Wood, said: “This opportunity is exciting for Wood because it has allowed us to think big, knowing that with bp’s own bold ambitions, we can help meet the world’s energy needs as efficiently as possible. Being able to truly leverage the breadth of experience and capability from right across our business will allow us to provide a solution that delivers transformational results.
“We have an extensive track record with bp and, for the first time, this multi-region approach allows us to combine these contracts into one single delivery model that puts exceptional execution, innovation, and simplification at its heart.“
Brian Chalmers, responsible for Wood’s global relationship with bp and President of Strategy and Development for Operations, said: “I am delighted that we will have the opportunity to drive a step change in the performance of bp’s offshore portfolio.
“We have proven that when we work in partnership, we can deliver transformational outcomes that support bp’s ambition to drive higher efficiency and productivity across their assets.” This multi-region contract will be led by Wood’s Operations business unit with a centralised contract management team and local delivery teams, supported by Wood’s global execution centre. Read More
Enverus, the most trusted energy-dedicated SaaS platform, has announced it will build a software development hub in Brno, Czech Republic, with plans to hire 20-25 developers this year and more than 200 engineering professionals over the next few years to expand its global technical capabilities and team.
Last week, Enverus announced the acquisition of Madrid-based RatedPower, a SaaS company that helps companies discover the smartest ways to design and engineer utility-scale solar photovoltaic (PV) plants. Combined with past acquisitions and software development in power and renewables, Enverus has invested more than $1 billion into its technology platform. This new office marks another step in Enverus’ plans to expand its international presence and solutions portfolio. Read More
PetroSA has parted ways with its CEO only two years into his contract under circumstances the company says it will not disclose.
Pragasen Naidoo, a chemical engineer and a former group chief of operations at Petrosa’s holding company, the Central Energy Fund, was appointed in January 2020. He was the first permanent CEO since 2014. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $82.06 | Up |
| Crude Oil (Brent) | USD/bbl | $89.58 | Up |
| Bonny Light | USD/bbl | $89.64 | Up |
| Saharan Blend | USD/bbl | $90.77 | Up |
| Natural Gas | USD/MMBtu | $6.96 | Down |
| OPEC basket 29/09/22 | USD/bbl | $92.76 | Up |
This month, the U.S. Department of Energy (DoE) released a roadmap on how to achieve carbon-neutral aviation emissions. The Sustainable Aviation Fuel Grand Challenge Roadmap outlines steps to meet 100 percent of the domestic aviation fuel demand with sustainable fuel by 2050. The roadmap offers a government-wide strategy for the development of technologies supporting the production of sustainable aviation fuels (SAFs).
The U.S. Departments of Energy, Agriculture, Transportation, the Environmental Protection Agency, and the Federal Aviation Administration will be working in partnership to enhance technological innovation in the sector and help the U.S. to establish itself as a SAF global market leader, supporting the country’s net-zero aims. 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, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar, Marine, Aviation, Fuel, Hydrogen, Electric ,EV, Gas, News and Analysis
