Energy top stories to 08/08/22. OPEC daily basket price stood at $100.01/bl, 05 August 2022 , U.S. Rig Count down by 3
Turkey has agreed to change how it pays Russia for natural gas. Under a new agreement, Turkey will pay Russia partially in rubles, Deputy Prime Minister Alexander Novak said. Turkey’s Tayyip Erdogan and Russia’s Vladimir Putin agreed on Friday to bolster cooperation after a four-hour meeting, a joint statement from the two nations has revealed as cited by Reuters. The deal, would increase cooperation in the transportation, agriculture, finance, and construction industries.
Russia has undercut the price of oil from its OPEC+ ally Saudi Arabia. Russian barrels were cheaper than Saudi crude during April through June More
With an aim to increase the power generation capacity of Madhya Pradesh, a floating solar power plant will be built on Narmada’s Omkareshwar Dam, which will generate 600 Megawatt power by 2022-23. It is said to be the world’s largest floating solar plant, the project is estimated to be worth over Rs. 3000 crores. Read More
Ryderwear has released two new environmentally friendly collections, after months of collaboration with stakeholders and dialogue with its community. Established in 2009, Ryderwear has grown into an international brand known for its range of workout clothes and activewear – most notably its butt lifting scrunch bum leggings, hoodies and weightlifting shoes.Both collections were consciously designed with a view for functionality and longevity, with the aim of creating long-lasting core pieces that won’t go out of style or season, while still incorporating vibrant colors that go beyond the traditional black, white and grey. Read More–>
Ukraine’s recurring attacks on the Zaporozhye nuclear plant prove that Kiev is seeking to create conditions for a nuclear disaster, a high-ranking Russian foreign ministry official said on Wednesday.
“Not long ago, on July 18, Ukraine’s army once again attacked the Zaporozhye nuclear plant by means of drones. The strike was delivered in the exact proximity, in several dozens of meters of facilities critically important for the station’s security. Only by a lucky chance, it did not lead to the damage to the station’s critical equipment fraught with a man-induced catastrophe,” Igor Vishnevetsky, deputy director of the ministry’s non-proliferation and arms control department, said at the Review Conference for the Treaty on the Non-Proliferation of Nuclear Weapons in New York. Read More
A bipartisan group of former EPA administrators endorsed the tax-and-climate deal Senate Democrats are moving to pass as quickly as this weekend, calling it the “most significant piece of climate legislation in United States history.”“The legislation meets the moment of urgency that the climate crisis demands, and will position the U.S. to meet President Biden’s climate goals of reducing emissions 50-52% by 2030, while making unprecedented investments in clean energy solutions that will save families hundreds of dollars a year and create new, good paying union jobs across the country,” the former administrators said in a statement Friday.The group includes former EPA chief Carol Browner, who served in a Democratic administration, and William K. Reilly, and Christine Todd Whitman, who served Republican presidents. The former officials said the bill would provide needed assistance to communities being ravaged by climate effects and help transition the country to cleaner energy sources. Read More
The University of Rochester is supporting community solar in Upstate New York by partnering with Amp Energy to receive financial credits as a result of the clean, renewable energy generated by six solar farms in nearby areas, including Wolcott and Mt. Morris, New York. The University is using the savings to fund future sustainability initiatives and reduce the carbon footprint of its operations. Read More
New Fortress Energy Inc. announced that it has entered an agreement with Plug Power Inc. (Plug) (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, for a 120 megawatt industrial-scale green hydrogen plant near Beaumont, Texas.
Expected to be one of the largest of its kind in North America, the facility will leverage Plug’s industry-leading proton exchange membrane (PEM) electrolysis technology and enable the production of more than 50 tons per day (TPD) of green hydrogen. With the development of additional supporting infrastructure, the facility will be scalable to nearly 500 megawatts. Read More
Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, has entered an agreement with New Fortress Energy Inc. (NFE) (NASDAQ: NFE) for a 120 megawatt industrial-scale green hydrogen plant near Beaumont, Texas.
Expected to be one of the largest of its kind in North America, the facility will leverage Plug’s industry-leading proton exchange membrane (PEM) electrolysis technology and enable the production of more than 50 tons per day (TPD) of green hydrogen. With the development of additional supporting infrastructure, the facility will be scalable to nearly 500 megawatts. The facility is the first investment in green hydrogen for NFE, a global infrastructure company committed to accelerating the world’s transition to clean energy.
“Plug’s decarbonization goals and NFE’s energy transition goals are strongly aligned, and our partnership has strengthened at a pivotal time for the green hydrogen industry,” Andy Marsh, CEO of Plug, said. “We are thrilled to support NFE’s first investment in green hydrogen. This facility is a model that we intend to replicate in other locations across the country.”
The green hydrogen project site is strategically located on the banks of the Neches River in Jefferson County, Texas, affording proximity to industrial end-users as well as access to reliable power and superior logistics including rail, marine and existing pipelines that span the U.S. Gulf Coast region. The Port of Beaumont and broader Sabine-Neches Navigation District are home to an array of large-scale industrial facilities in the refining, petrochemical and other sectors that utilize hydrogen for desulfurization and feedstock processing. Read More
The Heat Beneath Our Feet is the initiative of WGA Chair and Colorado Gov. Jared Polis. It will examine opportunities for and barriers to the increased development and deployment of geothermal technologies and evaluate strategies to scale geothermal technologies across the West. Opportunities include direct use and district heating systems for commercial, industrial, and residential heating applications; geothermal power plants for electricity generation; and geothermal heat pumps for building heating and cooling. Read More
China’s decision to halt climate talks with the US is dealing another blow to global warming negotiations already upset by the energy crisis and Russia’s invasion of Ukraine.
The move freezes collaboration between the world’s top two greenhouse gas emitters just three months before a key United Nations summit on global warming and amid a shrinking window of opportunity to prevent the worst consequences of climate change. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $90.08 | Up |
| Crude Oil (Brent) | USD/bbl | $94.04 | Down |
| Bonny Light | USD/bbl | $118.06 | — |
| Saharan Blend | USD/bbl | $117.77 | — |
| Natural Gas | USD/MMBtu | $7.89 | Down |
| OPEC basket 05/08/22 | USD/bbl | $100.01 | Down |
San Antonio, TX August 9-11 , 2022 API Inspection and Mechanical Integrity Summit. Developed by recognized inspection experts, IMIS has become internationally renowned as “the best inspection related conference in the petroleum industry”.The API Inspection and Mechanical Integrity Summit includes 3 days of educational content and outstanding networking opportunities, preceded by a day of optional in-depth training courses. Read More
Bloom Energy’s dairy biogas-to-fuel cell project, conducted in collaboration with California Bioenergy at Bar 20 Dairy Farms in Kerman, Calif. has achieved two national recognitions. The collaboration was awarded “Project of the Year” by The American Biogas Council at the annual BIOGAS AMERICAS conference, while Bar 20 received a 2022 U.S. Dairy Sustainability Award from the Innovation Center for U.S. Dairy for its sustainability efforts, largely thanks to the CalBio and Bloom collaborative technology offering.
The collaboration – recognized by ABC for breaking new ground in the U.S. biogas industry and across the global energy landscape – is the first to use renewable biogas to make electricity from fuel cells to power an onsite microgrid and a fleet of electric vehicles (EVs). Read More
U.S. Rig Count is down 3 from last week to 764 with oil rigs down 7 to 598, gas rigs up 4 to 161 and miscellaneous rigs unchanged at 5.
Canada Rig Count is down 1 from last week to 203, with oil rigs up 3 to 140, gas rigs down 4 to 63.
International Rig Count is up 9 rigs from last month to 833 with land rigs up 12 to 633, offshore rigs down 3 to 200.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 05 August 2022 | 764 | -3 |
| Canada | 05 August 2022 | 203 | -1 |
| International | July 2022 | 833 | +9 |
OilandGasPress Energy Newsbites and Analysis Roundup |Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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