Energy , Renewable News As Reported to 12 July 2022. Canada Rig Count is up 9
WTI for August delivery fell 70 cents to settle at $104.09 a barrel in New York. Brent for September settlement rose 8 cents to settle at $107.10 a barrel.
Fuel prices in the United Arab Emirates, a major OPEC producer, set in line with global oil price benchmarks, have soared over 70% since Russia’s invasion of Ukraine
UAE seeks to produce 30% of its power from clean energy by 2030 and cut its dependency on thermal power, according to GlobalData.
The UAE mainly depends on thermal power to generate most of its electricity, with 92.6% of its total electricity produced from thermal power in 2021.
This announcement was made in GlobalData’s latest report ‘UAE Power Market Size, Trends, Regulations, Competitive Landscape and Forecast, 2022-2035’.
The report referred that the country is planning to introduce pumped hydro into its power mix, which is expected to begin with the Al Hattawi pumped storage plant set to launch commercial operations in 2026.
In line with the Dubai Clean Energy Strategy 2050, the project will use and store water from the existing Hatta dam to produce electricity during peak demand periods.
The Dubai Clean Energy Strategy targets three-quarters of the UAE’s total power output from clean energy sources by 2050. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $101.80 | Down |
| Crude Oil (Brent) | USD/bbl | $105.00 | Down |
| Bonny Light | USD/bbl | $118.10 | — |
| Saharan Blend | USD/bbl | $117.77 | — |
| Natural Gas | USD/MMBtu | $6.51 | Up |
| OPEC basket 05/07/22 | USD/bbl | $114.30 | Down |
U.S. Rig Count up 2 from last week to 752 with oil rigs up 2 to 597, gas rigs unchanged at 153 and miscellaneous rigs unchanged at 2.
The U.S. Offshore Rig Count is unchanged at 17, unchanged year-over-year. Canada Rig Count is up 9 from last week to 175, with oil rigs up 7 to 116, gas rigs up 2 to 59.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 08 July 2022 | 752 | +2 |
| Canada | 08 July 2022 | 175 | +9 |
| International | June 2022 | 824 | +7 |
The construction of the Genowefa PV farm, covering an area of 45 hectares, started in April 2022 in Kleczew, Poland. Financing for the investment comes from a loan agreement signed with Santander Bank Polska and BNP Paribas Bank Polska. The general contractor for the scheme is Electrum Concreo. PAD-RES intends to complete the facility in 2Q 2023. Read More
Gas leaks on Sleipner field stopped
A gas leak in a contained area related to a turbine on Sleipner A was reported in the morning of 11 July. The incident was quickly clarified.
During the process of resuming production and depressurisation, an additional gas leak occurred on the Sleipner R riser platform late Monday night.
Personnel on board mustered according to procedure in both situations, but they were demobilised shortly afterwards. No personnel were injured in any of the incidents.
Work is ongoing to safely resume normal operation.
The authorities have been notified and the incidents will be further investigated to find the causal relation. Read More
For the first time in aviation history a CORSIA certified batch of sustainable aviation fuel (SAF) was delivered to a commercial airline. Neste, the world’s leading SAF producer, delivered a batch of its Neste MY Sustainable Aviation Fuel™ to American Airlines at San Francisco International Airport. This was part of a pilot to certify SAF as a CORSIA eligible fuel that can be used by an airline to meet its emissions obligation under CORSIA.
The Carbon Offsetting and Reduction Scheme for International Aviation (“CORSIA”) is a carbon offset and carbon reduction scheme to lower CO2 emissions for international flights, to curb the aviation impact on climate change. It was developed by the International Civil Aviation Organization (ICAO). But until now, no airline in the world has taken delivery of CORSIA-certified SAF, making this delivery a first.
Neste has been working together closely with aviation stakeholders to accelerate the use of SAF and has a long-standing partnership with American Airlines, the world’s largest airline when measured by fleet size. Both companies support CORSIA’s emissions reduction goals, but as the SAF certification process under CORSIA is new, they decided to set up a pilot project to certify a batch of SAF and use that process to understand its challenges.
“Sustainable aviation fuel is widely acknowledged as a key element in achieving the aviation industry’s goals of carbon neutral growth from 2020 and reaching net-zero emissions by 2050,” says Thorsten Lange, Neste’s Executive Vice President, Renewable Aviation. “The pilot with American Airlines was a perfect opportunity for proving the feasibility of delivering CORSIA certified SAF and gaining useful insights into setting up the process and the challenges we need to overcome to enable the implementation of CORSIA.” 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.
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
