Energy top stories to 18/7/22. OPEC daily basket price stood at $104.39/bl, 15 July 2022
As the global demand for batteries looks set to continue rising in line with the growth of the EV market and renewable energy projects, the E.U. may soon throw a spanner in the works by labeling lithium batteries as harmful to humans Read More
Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced transactions made in accordance with its share repurchase programme during the week commencing 11 July 2022.
Date on which the share repurchase programme was announced: 25 July 2019, with a two-year extension announced on 16 April 2021.
The duration of the share repurchase programme: until 14 April 2023.
In the period from 11 July 2022 until 15 July 2022 Subsea 7 S.A. has repurchased a total of 589,422 of its own shares at the Oslo Stock Exchange at an average price of NOK 75.8486 per share. Read More
Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (Nel, OSE:NEL), has received its largest ever purchase order from an undisclosed US customer for 200 MW of alkaline electrolyser equipment for industrial application.
“We are truly excited to announce Nel’s largest purchase order to date. This project will showcase Nel’s large-scale delivery and execution capabilities and become a valuable reference for future large-scale contracts. It will have a substantial, positive impact on Nel’s financials, electrolyser product and production cost, technology development and scale-up plans,” says Nel’s CEO Håkon Volldal.
The Client, which has developed the project over several years, will fully fund the project through private investors, and has also received significant state/local government incentives given the environmental benefits of the proposed project. The Client’s development efforts have also resulted in a 20-year off-take commitment from local partners as well as a 20-year electricity power purchase agreement (PPA).
“This project represents an excellent opportunity for Nel to demonstrate its hydrogen technology and scaling capabilities, crucial to meet the rapid growing demand we see for green hydrogen”, says Tom Skoczylas, Regional Sales Manager for Nel Hydrogen US. “We are very happy to be elected for this ground-breaking project where Nel was chosen based on maturity of technology and proven electrolyser plant experience,” he says.
The contract for the electrolyser stacks is a firm order with a value in excess of EUR 45 million. Production and delivery of stacks is planned from February 2023 until mid-2024 at Nel’s large-scale electrolyser production facility at Herøya. Pending an ongoing engineering study, Nel could also get the opportunity to provide additional balance-of-plant equipment for the project. Read More–>
DNO ASA, the Norwegian oil and gas operator, will publish its Q2 2022 operating and interim financial results on Thursday, 11 August 2022 at 07:00 (CET). A videoconference call with executive management will follow at 11:00 (CET). The Company issues below an update on production and sales volumes for the quarter as well as other key financial information that will be further discussed in the earnings call. Read More
India to set up 3,500 CNG stations in two years: Oil minister Hardeep Puri The number of Compressed Natural Gas (CNG) stations in India have risen from around 900 in 2014 to 4,500 now and the country will set up additional 3,500 CNG filling stations by 2024 Read More
Diageo announced plans to invest €200 million in Ireland’s first purpose-built carbon neutral brewery on a greenfield site in Littleconnell, Newbridge, Co. Kildare. The new facility will brew lagers and ales including Rockshore, Harp, Hop House 13, Smithwick’s, Kilkenny and Carlsberg. When fully operational with a capacity of 2 million hectolitres, it will be the second largest brewing operation in Ireland after St. James’s Gate and support the future growth of Diageo Ireland’s beer brands.
The state-of-the-art brewery will be powered with 100% renewable energy and will harness the latest process technology to minimise overall energy and water consumption. This will enable the brewery to avoid up to 15,000 metric tons of carbon emissions annually.
As the production of lagers and ales is transferred to the new facility it will enable St James’s Gate to increase the production of Guinness to meet global demand. Additionally, it will also support the delivery of Diageo’s Society 2030 commitments by creating the physical space required for the use of renewable technologies at St James’s Gate. The new facility will contribute to Ireland’s critical economic and climate policy goals, such as supporting the transition to a low carbon economy while also increasing both food and drink production and associated jobs.
Diageo will submit a planning application to Kildare County Council in September this year and, if successful, plans to commence brewing in 2024 following a construction period of approximately two years. Read More
Yara, ACME and Scatec sign term sheet for sale of green ammonia from Oman. Oman has excellent conditions for renewable energy and a strategic location to produce green ammonia for export to both Europe and Asia, which are the pacesetters in reducing CO2-emissions.
ACME and Scatec are already evolving the green ammonia project in Oman. The joint venture aims at building a state-of-the art facility. Yara is a front-runner in global ammonia production, logistics and trade and are growing the market for green ammonia that can be used for decarbonizing other industries. ACME and Scatec will begin developing the first phase of the project over 12 km2 of land to produce 100,000 metric tonnes of green ammonia per annum in the Special Economic Zone at Duqm. Once fully developed, a second phase will be added, and the project is expected to produce up to 1.1 million tonnes of green ammonia annually. Read More
The value of contracts awarded to companies listed on Kuwait’s bourse plunged by nearly 67 percent in the second quarter of 2022, local reports showed on Monday.
From around 512 million Kuwaiti dinars ($1.69 billion) in the first quarter, the total value of awarded contracts dipped to nearly 168 million dinars ($554.5 million), the Arabic language daily Al-Anba said, citing official data.
It showed the value of contracts in the first half of 2022 was down by nearly 7.5 percent compared with the first half of 2021, when it stood at 735 million dinars ($2.42 billion).
A breakdown showed 15 companies won 36 contracts in the first half of 2022 compared with 14 firms which were awarded 32 deals in the first half of 2021.
The report showed the Health Ministry was the largest tender issuer, awarding contracts worth nearly 409.3 million dinars ($1.35 billion) in the first half of 2022.
It was followed by the state-owned Kuwait Oil Company, which awarded five projects worth about 75.3 million dinars ($248.5 million) in the same period. More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $102.20 | Up |
| Crude Oil (Brent) | USD/bbl | $105.80 | Up |
| Bonny Light | USD/bbl | $118.10 | — |
| Saharan Blend | USD/bbl | $117.77 | — |
| Natural Gas | USD/MMBtu | $7.45 | Up |
| OPEC basket 15/07/22 | USD/bbl | $104.39 | Up |
U.S. Rig Count is up 4 from last week to 756 with oil rigs up 2 to 599, gas rigs unchanged at 153 and miscellaneous rigs up 2 to 4.
Canada Rig Count is up 16 from last week to 191, with oil rigs up 9 to 125, gas rigs up 7 to 66.
| Region | Period | Rig Count | Change |
| U.S.A | 15 July 2022 | 756 | +4 |
| Canada | 15 July 2022 | 191 | +16 |
| International | June 2022 | 824 | +7 |
OilandGasPress Energy Newsbites and Analysis Roundup |Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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