Energy, Automobile, EV, Renewable News | Energy News to 7 Apr. 2022. OPEC daily basket price stood at $106.13/bl, 6 April 2022

Energy News to 7 Apr. 2022. OPEC daily basket price stood at $106.13/bl, 6 April 2022

April 7, 2022

Oil futures fell as the IEA and the United States,are set to release 240 million barrels of crude oil from the world’s strategic energy stores.

Capricorn confirms completion of the Tender Offer, details of which were set out in the circular to Shareholders published by the Company on 7 March 2022 (the “Circular”). Under the terms of the Tender Offer, 171,073,128 Ordinary Shares will be purchased by Morgan Stanley at the Strike Price of 223 pence per share (being Average VWAP, rounded down to the nearest whole penny), representing approximately 34.52% of the Issued Ordinary Share Capital of the Company. The total value of all Ordinary Shares to be purchased is, therefore, £381,493,075 (being the equivalent of approximately US$500 million). Given that the Strike Price was the Minimum Price, the Company confirms that the Guaranteed Entitlement is 34.52%. Read More

Quantum Tech Will Take Just 9 Seconds to Fully Charge Electric Car
Scientists at the Institute for Basic Science (IBS) in South Korea have proven that a new technology will cut the time it takes to charge electric cars to just nine seconds, allowing EV owners to ‘fill up’ faster than their gasoline counterparts. And even those plugging-in at home will have the time slashed from 10 hours to three minutes. The new device uses the laws of quantum physics to power all of a battery’s cells at once—instead of one at a time—so recharging takes no longer than filling up at the pump. The researchers found a typical electric vehicle with a battery containing around 200 cells would recharge 200 times faster. Related News Read More

Golar LNG Limited (“Golar”) announces that it has sold approximately one third of the 18.6 million New Fortress Energy Inc. (“NFE”) shares received upon completion of the sale of Hygo Energy Transition to NFE in April 2021. The sale is expected to raise net proceeds of approximately $250 million which Golar will seek to deploy to FLNG growth projects. Commenting on the sale, Golar CEO Karl Fredrik Staubo said “Golar is excited about new FLNG growth prospects, including those being pursued by NFE and plans to remain a supportive shareholder for the foreseeable future”. Read More

Capricorn today announces that it will commence a share repurchase programme of its ordinary shares of 21/13 pence each (the “Ordinary Shares”) of up to US$25,000,000 (the “Programme”). This Programme is part of our previously announced overall buyback programme of up to US$200,000,000 which the Company intends to instruct in tranches of up to US$25,000,000, to be carried out between JP Morgan Securities plc (“JPMS plc”) and Morgan Stanley & Co. International Plc acting as alternate principals for each tranche. Announcements regarding future tranches following completion of this Programme will be made in due course. Read More

Hess Corporation (NYSE: HES) announced today that it will hold a conference call on Wednesday, April 27, 2022 at 10 a.m. Eastern Time to discuss its first quarter 2022 earnings release. To phone into the conference call, parties in the United States should dial 877-693-6685 and enter the pass code 5695921 after 9:45 a.m. Outside the United States, parties should dial 443-295-9223 and enter the pass code 5695921. This conference call will also be accessible by webcast (audio only). M o re

Just one year after the Company was formed, Stellantis published its first Corporate Social Responsibility (CSR) report, detailing its strong performance across key metrics in 2021, as well as outlining its detailed sustainability roadmap including the commitment to reach industry-leading carbon net zero emissions by 2038.

With action and progress at its core, the report highlights Stellantis’ advancement to create and share value with its employees, customers, business partners, the communities in which it operates and other stakeholders. “Running a business responsibly is key to our long-term sustainability. The execution of our Dare Forward 2030 strategic plan, achieving carbon net zero throughout our entire value chain by 2038, gives Stellantis a leadership role in decarbonizing the industry,” said Carlos Tavares, Stellantis CEO. “Our approach to corporate social responsibility frames our decisions to bring added value for people, the planet, and Stellantis.” The report explores six primary areas of focus, all supporting the vision set out through the United Nations Sustainable Development Goals Read More

Oil and Gas Blends	Units	Oil Price $	change
Crude Oil (WTI)	USD/bbl	$97.16	Down
Crude Oil (Brent)	USD/bbl	$102.14	Down
Bonny Light	USD/bbl	$104.79	Down
Saharan Blend	USD/bbl	$106.67	Down
Natural Gas	USD/MMBtu	$6.17	Up
OPEC basket 05/04/22	USD/bbl	$106.13	Down

At press time 7 April 2022

Stellantis participated in the 5G Automotive Association (5GAA) live trial of 5G cellular connected vehicle communication and multi-access edge computing (MEC) technology in Blacksburg, Virginia. The live trial of the new driver and pedestrian safety concept piloted new roaming technology for traffic safety.
“Making roads safer for drivers and pedestrians is the ultimate goal of developing these next generation technologies,” said Ned Curic, Stellantis Chief Technology Officer. “The Jeep Wrangler 4xe plug-in hybrid is the perfect vehicle for these live tests, equipped with vehicle-to-everything (V2X) technologies and driver safety alert. With 5GAA, we are working with industry leaders across the globe to help pave the way for autonomous technology to benefit our products and, ultimately, our customers.” Stellantis is active in several initiatives globally, including a similar test program in Turin, Italy, to evaluate 5G cellular technology and management of large volumes of data, including the sizing and configuration of computing capabilities inside the vehicle. High-speed wireless communication is a key element in enabling increased levels of vehicle autonomy as well as future connected services and mobility technologies. Read More

. On March 25, Stellantis introduced a brand new twin-turbocharged inline-six engine, dubbed Hurricane, as a fresh internal combustion engine design to promote a product-line-wide focus on efficiency. The company, which is made up of 16 global automotive brands, hopes to implement the new engine as a stop-gap to reduce its dependence on large-displacement inefficient Hemi V8 engines for its Dodge, Ram, Jeep, and potentially other brands. Read More

The UK light commercial vehicle (LCV) market declined in March by -27.6% to 40,613 units according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT). The scale of the fall is amplified by comparison with March last year, when pent-up demand contributed to the largest increase in LCV registrations since 1999.. March is conventionally a bumper period due to the introduction of the new bi-annual number plate, with more LCVs registered last month than January and February combined. However, supply and delivery issues continue to hamper the sector, including the global shortage of semiconductors and those affecting construction, logistics and shipping, with the March market -38.6% down on pre-pandemic 2019.2 Meanwhile, the cyclical process of LCV fleet renewal has contributed naturally to a slower first quarter this year, following a period of robust post-pandemic recovery in 2021. Read More

Mitsubishi Power, has commenced operation of a third M701JAC gas turbine unit that is part of a project to build two natural gas-fired power plants in Thailand. Inaugurated on March 31, this is the third of eight units ordered on a full-turnkey basis as part of a joint venture between Gulf Energy Development Public Company Limited, one of Thailand’s largest independent power producers (IPP), and Mitsui & Co., Ltd. The first unit, which was also the first M701JAC in Southeast Asia, started commercial operation at the end of March 2021. The first and second units have been in commercial operation for one year and half a year respectively, both of which boast high operating rates. Read More

Oman saw its revenues and budget surplus surge last month, as oil prices almost doubled, according to data from the Ministry of Finance. Total public revenue amounted to 1.918 billion riyals ($4.981 billion) at the end of February, up by 75.6 percent compared to the same period last year. The country’s net oil revenue jumped 81.4 percent to 1.094 billion riyals, while gas revenue expanded 116.6 percent to 509 million riyals, the ministry said in its monthly bulletin. Budget surplus also reached 210 million riyals at the end of last month, compared to a deficit of 457 million riyals over the same period in 2021. Oil prices averaged $81 per barrel during the period, nearly double the $42 average recorded a year ago. Read More–>

KBR (NYSE: KBR) announced today it has won an ammonia technology contract from DL E&C for NeuRizer’s (formerly Leigh Creek Energy Ltd) carbon-neutral fertilizer project in Australia. Under the terms of the contract, KBR will provide technology licensing and engineering for the 1,600 MTPD ammonia plant based on KBR’s highly efficient Purifier® process. This is the first fully integrated urea production facility in the world leveraging an innovative configuration for in-situ syngas production, gas processing, ammonia and urea manufacturing and carbon geo-sequestration. “We are excited to provide our energy-efficient ammonia technology to DL E&C for NeuRizer’s flagship carbon-neutral project for the local and export agriculture markets,” said Doug Kelly, KBR President, Technology. “This project reaffirms our commitment to continuing to explore novel ways to help our clients meet their business and sustainability targets.” KBR is a world leader in ammonia technology and has been at the forefront of innovation in the ammonia market for decades. Read More

The International Energy Agency’s 31 Member Countries agreed on Friday to a new release of oil from emergency reserves in response to the market turmoil caused by Russia’s invasion of Ukraine, underscoring their strong and unified commitment to stabilizing global energy markets. The agreement was reached at an Extraordinary Meeting of the IEA Governing Board, which was held at the Ministerial level and chaired by US Secretary of Energy Jennifer Granholm. The details of the new emergency stock release will be made public early next week. The agreement follows the previous action taken by IEA Member Countries, announced last month, to which they pledged a total of 62.7 million barrels. The IEA Ministers reiterated their concerns about the energy security impacts of the egregious actions by Russia and voiced support for sanctions imposed by the international community in response. Ministers expressed their solidarity with the people of Ukraine and their democratically elected government in the face of Russia’s appalling and unprovoked violation of Ukraine’s sovereignty and territorial integrity. The Governing Board also encouraged member countries to support Ukraine in the supply of oil products. Read More