Energy News to 30 June 2022. OPEC daily basket price stood at $117.04/bl, 29 June 2022
OPEC+’s two-year production pact is set to end in August.
Marr Contracting switches to renewable diesel from Neste in Australia
From June 2022 onwards, Marr Contracting (“The Men From Marr’s”) has been using renewable diesel (also known as HVO100) from Neste in their heavy lift luffing tower crane fleet in Australia. This is an important step towards the business’ journey to net-zero carbon emissions and supports Marr in its commitment to reduce carbon emissions and impact on the environment as part of their 2021 Social Value Strategy.
The switch to Neste-produced 100% renewable diesel comes after significant consultation with Marr clients and leaders within Australia’s construction industry on the best solution for transitioning away from fossil fuels. After investigating alternative power sources and taking the time to understand the issues associated with currently available options, Marr’s R&D team scoured the world for the best solution. Read More
Kenya’s state-owned oil company the National Oil Company of Kenya (Nock) has struck a deal with Saudi Aramco to import fuel at below global rates to help lower pump prices in the African state, according to reports.
African website Business Daily said the two companies had made an exclusive agreement to import 30 percent of the country’s requirements from Saudi Arabia, to pull down prices and ease the burden on customers.
The plan is to start trials of the imports in August and then commence a full contract in October, according to Nock’s CEO Leparan ole Morintat. Read More–>
Chevron Achieves Top Certification Scores for Environmental Performance
Chevron Corporation (NYSE: CVX) announced that the company’s participating North American upstream assets earned Project Canary’s highest ratings on operational and environmental performance. Project Canary’s independent analysis was conducted on Chevron assets in Texas and Colorado by the Denver-based climate tech and environmental assessment company.
As a result of the certification process, 82 wells achieved “Platinum” status and 3 wells received “Gold” status, Project Canary’s highest ratings and confirmation of Chevron’s industry-leading practices, including continuous monitoring. Chevron plans to market RSG from the certified assets in the second half of 2022.
“This certification is an important milestone in our journey to deliver affordable, reliable, ever-cleaner energy to a growing world. Chevron deploys several technologies to detect and measure methane emissions and certified responsibly sourced gas is part of our broader commitment to lowering the carbon emissions intensity of our operations,” said Steve Green, president, Chevron North America Exploration and Production. “In addition to demonstrating transparency, an independent assessment provides validation of our current practices and insights to inform and shape how we continue to achieve our lower carbon aspirations.”
The pilot project focuses on two sites in the Midland Basin of the Permian in Texas and three sites in Chevron’s Mustang Development Area of the DJ Basin in Colorado. The five sites produce a total of approximately 80 million cubic feet of natural gas per day. Project Canary’s TrustWell™ program accounts for operational impacts on water, air, land, and community. Read More
The U.S. Department of Energy announced the fourth round of the Solar District Cup—a collegiate competition designed to bring together multidisciplinary teams to design energy systems for a campus or urban district. Diverse students in engineering, urban planning, finance, and related majors will form teams to reimagine how energy is generated and used in a given district.
As students design their energy systems, they will present solutions to pressing solar deployment challenges while making professional contacts and gaining skills needed to enter the clean energy workforce. Read More
Hitachi Energy today announced the appointment of Yoshihiko Kawamura, Executive Vice President and Executive Officer, Group Chief Financial Officer (CFO) of Hitachi, Ltd., as the Chair of the Board of Hitachi Energy Ltd. Yoshihiko Kawamura succeeds Alistair Dormer, Chair of the Board of Hitachi Europe Ltd., who has been supporting in strengthening the foundation for Hitachi Energy, driving sustainability activities and synergies for growth across sectors. Alistair will continue to support Hitachi Energy within Hitachi, Ltd. based in Europe and as Chair of the Board of Hitachi Europe Ltd., and also as Executive Advisor for the Green, Energy and Mobility Sector of Hitachi, Ltd.
Kawamura-san brings insights from working with Strategy and Investments, IoT, Information and Telecommunication Systems, and IT. He has extensive experience in global roles from working in Mitsubishi and Hitachi Corporations and he will be key to support our recently announced “Hitachi Energy 2030 Plan” – the next stage of Hitachi Energy’s Purpose driven profitable and sustainable growth and development.
Alistair Dormer commented, “I am very happy to have been part of supporting the Hitachi Energy business” He continued, “Reaching carbon-neutrality requires engagement from all of us and it’s been a pleasure to work with Hitachi Energy’s diverse and talented team across the globe that support the global transformation and decarbonization of energy systems. I am pleased to now hand over the role of the Chair of the Board to Yoshihiko Kawamura for the next phase where the acceleration of the energy transition is critical to help countries reach their net zero goals.” Read More
British Vehicle Rental & Leasing Association (BVRLA) response to withdrawal of the Plug in Car Grant Commenting on the announcement, Toby Poston, Director of Corporate Affairs at the BVRLA, said: “This move has been well signposted and it is right that the Government prioritises its electric vehicle subsidies towards vans and charging infrastructure, where they are needed most. “Although the grant was small and only a handful of electric vehicles were eligible, its withdrawal will be a symbolic moment that could damage confidence in the fragile EV market.
“Most demand for EVs is being driven by the favourable Benefit-in-Kind tax rates available to workers in company car or salary sacrifice schemes. As inflation surges and business and consumer confidence falls, Government needs to maintain these incentives if the country is to have any chance of hitting its ambitious decarbonisation targets.
“Our big concern is for the thousands of drivers that have already ordered EVs in good faith, expecting to get the benefit of the grant. The supply issues that continue to beset the automotive industry mean that many vehicle orders are being delayed or even cancelled. OZEV should review its decision to remove grant eligibility for vehicles delivered more than 12 months after an order was entered on the grant register.” Read More
The Western Australian Environmental Protection Authority (EPA) has made public its Report on the North
West Shelf (NWS) Project Extension proposal. This includes recommending key environmental conditions for the ongoing operations of the NWS in the decades ahead.
The Woodside-operated NWS Project pioneered the LNG industry in Australia and has delivered a
significant portion of the competitively priced local gas supply that has long underpinned businesses and jobs in Western Australia. Since commencing operations in 1984, the NWS Project has supplied more than 5,970 PJ of domestic gas, which is equal to 15 times the total anticipated demand for natural gas in Western Australia in 2022. The continued operation of this critical infrastructure can unlock new gas supply for Western Australian and global customers, supporting the delivery of affordable and reliable energy for years to come. Additionally, the NWS continues to be a significant contributor to Australian GDP and a major employer, providing jobs and investment in the Pilbara region and the state of Western Australia. Woodside Energy Executive Vice President Australian Operations Fiona Hick said the NWS Joint Venture would carefully consider the conditions outlined by the EPA. More
TotalEnergies has just announced a summer discount of €0.12/litre in all of the motorway service stations under the TotalEnergies banner in mainland France.
A discount for the whole summer holiday season
From 1 July to 31 August 2022, TotalEnergies is offering a €0.12/litre discount on fuel. This discount comes on top of the State discount of €0.18/litre including VAT and the overall discount at TotalEnergies service stations will therefore be €0.30/litre. As a result, a motorist visiting one of TotalEnergies’ motorway service stations will save €0.30/litre, which is equivalent to a saving of €15 for a 50-litre tank. During this summer period, customers will also find the usual “beach towels” and “Family Kit” offerings for parents and their children at our motorway service stations. A solidarity contribution for purchasing power The current global context is one of great tension in the energy markets. For several months now, rising energy costs have been pushing up fuel prices and weighing on people’s purchasing power in France, particularly those with the least to spend, for whom a car is indispensable for getting around In response, TotalEnergies is once again making a commitment to its customers in France with this summer discount, which is expected to reach about 17 million people. Read More
Plenitude (Eni) and HitecVision announce today an agreement to expand their Norwegian renewable energy company, Vårgrønn. The partners’ joint ambition is to build Vårgrønn into a material full cycle offshore wind player, targeting 5 GW of installed and sanctioned offshore wind capacity by 2030, with a focus on key Northern European markets.
As part of the agreement, Vårgrønn will acquire Plenitude’s 20% interest in Dogger Bank (UK), as well as Plenitude’s other early-stage initiatives in Vårgrønn’s key markets. Moreover, HitecVision will increase its ownership share in Vårgrønn from 30.4% to 35% through the transaction, while Plenitude will retain the remaining 65%.
Once completed in 2026, Dogger Bank will be the world’s largest offshore wind farm. The three phases of the project (A, B and C) will have a combined installed capacity of 3.6 GW, generating enough renewable energy to power 6 million homes. Through this transaction, Vårgrønn will invest into the most mature area for offshore wind globally, adding 720MW net to its portfolio.
Vårgrønn was established by Eni and HitecVision in 2020 to actively participate in the energy transition, building on their long-term partnership from jointly developing Vår Energi to become a value accretive cooperation and one of the largest companies on the Norwegian Continental Shelf. Read More
The 30th OPEC and non-OPEC Ministerial Meeting was held via videoconference on 30 June 2022. In view of current oil market fundamentals and the consensus on its outlook, the OPEC and participating non-OPEC oil producing countries agreed to:
Reaffirm the decision of the 10th OPEC and non-OPEC Ministerial meeting on 12th April 2020 and further endorsed in subsequent meetings including the 19th OPEC and non-OPEC ministerial meeting on the 18th July 2021.
Reconfirm the production adjustment plan and the monthly production adjustment mechanism approved at the 19th and 29th OPEC and non-OPEC Ministerial Meetings and the decision to adjust upward the monthly overall production for the month of August 2022 by 0.648 mb/d.
Reiterate the critical importance of adhering to full conformity and to the compensation mechanism. Compensation plans should be submitted in accordance with the statement of the 15th OPEC and non-OPEC Ministerial Meeting. Hold the 31st OPEC and non-OPEC Ministerial Meeting on 3 August 2022. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $108.40 | Down |
| Crude Oil (Brent) | USD/bbl | $115.40 | Down |
| Bonny Light | USD/bbl | $122.00 | Up |
| Saharan Blend | USD/bbl | $121.90 | Up |
| Natural Gas | USD/MMBtu | $6.39 | Down |
| OPEC basket 29/06/22 | USD/bbl | $117.04 | Down |
Neptune Energy commences drilling at Adorf gas field development
Neptune Energy today announced drilling has begun at its operated Adorf Z17 gas appraisal well in the municipality of Georgsdorf, north western Germany.
The well is being drilled with a rig operated by KCA Deutag, with final depth of around 4,600 metres expected to be reached in October this year.
Operated with power from the grid instead of using diesel-driven generators, KCA Deutag’s rig will remove an estimated 1,000 tonnes of CO2 emissions from the drilling operation.
Neptune Energy’s Managing Director in Germany, Andreas Scheck, said: “The Adorf Carboniferous field development is one of our most promising activities in Germany and demonstrates our desire to grow our business here.”
Neptune plans to drill a fourth well – Adorf Z18 – from the same well pad in Q4 2022.
The construction of a modern processing plant for treatment of the natural gas at the site in Georgsdorf will begin in the second half of 2022. The Adorf Carboniferous gas field was discovered in 2020 and the first well, Adorf Z15, was brought into production in October the same year. The second well, Adorf Z16, increased Neptune’s production from the licence to around 4,500 boepd earlier this year.
Neptune Energy owns 100% of the Adorf Carboniferous gas field. Read More
U.S. Rig Count is 753 with oil rigs up 10 to 594, gas rigs up 3 to 157 and miscellaneous rigs unchanged at 2. Canada Rig Count is 154, with oil rigs flat at 104, gas rigs down 2 to 50
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 24 June 2022 | 753 | +13 |
| Canada | 24 June 2022 | 154 | -2 |
| International | May 2022 | 817 | +11 |
OilandGasPress Energy Newsbites and Analysis Roundup |Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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