Global energy ,Automotive industry News Roundup and analysis
London, November 19, 2024 (Oilandgaspress) –-TotalEnergies and Oil India Limited (OIL) signed a Cooperation Agreement to carry out methane emissions detection and measurement campaigns using TotalEnergies’ pioneer AUSEA technology at OIL sites in India.
State-owned enterprise OIL recently joined the Oil and Gas Decarbonization Charter (OGDC), a global industry initiative launched at COP28, co-chaired by TotalEnergies’ CEO. The OGDC’s ambition is to work towards net-zero operations by 2050, as well as near-zero upstream methane emissions and zero routine flaring by 2030. Moreover, OGDC members are committed to measuring and publicly reporting progress.
In line with the OGDC’s principle of sharing good practices, TotalEnergies makes this technology available to other operators among the signatories, as an effective and recognized tool to detect, measure and eventually abate methane emissions on their own assets. Read More
AUSEA, a one-of-a-kind technology by TotalEnergies
Mounted on a drone, the AUSEA gas analyzer, developed by TotalEnergies and its R&D partners, consists of a dual sensor capable of detecting methane and carbon dioxide emissions, while at the same time identifying their source. This technology marks a step change in methane emissions detection and measurement compared to traditional techniques. By allowing access to hard-to-reach emission points, on all types of industrial facilities, both offshore and onshore, AUSEA is reputed as one of the most accurate technologies in the industry. Read More
Rivian R2 Road Tour is cruising through cities across the U.S, bringing you an up close and personal look at the all-new R2. You can also meet the new Gen 2 R1S & R1T and take a demo drive. Keep an eye out for R3X making guest appearances along the way.
R2 Tour Dates
Nov 20 Venice, CA
Nov 22–Dec 1 Los Angeles, CA
Jan 11–20 Detroit, MI
Feb 8–17 Chicago, IL
Feb 19–23 Toronto, ON
Mar 19–23 Vancouver, BC
Mark your calendars and join us at a city near you. Follow our social accounts for more details about each event @rivianofficial. Read More
Renault Group is profoundly redefining the design of its vehicles, by rethinking how they are conceived. In an exclusive series entitled “Design Talks”, Gilles Vidal, Renault Brand Design Director, welcomes guests to talk about their inspirations, emotions, what defines design today and how this translates into Renault vehicles. In this third instalment on sound design, Gilles welcomes artist, composer and author Jean-Michel Jarre to Maison 5, where they discuss the evolution of sound design in the electric age, where sound must envelop silence while making a strong contribution to brand identity.
The advent of electric vehicles is an opportunity for automakers to rethink the relationship between the vehicles they produce and the urban environment. Sound design is thus at the forefront to enhance user-experience without disrupting habits. With this delicate balance in mind, Renault Group called on the expertise of musician Jean-Michel Jarre, a technology and innovation enthusiast, to create a sound environment that enriches the driving experience and reinforces Renault’s brand identity. Jean-Michel Jarre and Gilles Vidal meet for an exchange during Paris Design Week, at Maison 5, a cultural pop-up venue built by the Renault brand. Read More
The Rimac Group and its founder, Mate Rimac, have appointed Antony Sheriff to the role of CEO of the Rimac Group. Mate Rimac will become President of the Rimac Group Management Board, while also continuing in his roles as the CEO of both Bugatti Rimac and Rimac Technology. The Rimac Group is majority shareholder of Bugatti Rimac and the sole shareholder of Rimac Technology.
The development of the Bugatti Tourbillon, the continued evolution of the Rimac Nevera and Nevera R, along with the expansion of innovative large-scale OEM battery and e-axle projects within Rimac Technology, all signal the continued growth and success of the Rimac Group companies. With this addition to its leadership team, Mate made the decision to focus his time where he can be most impactful. Antony has been involved with the Rimac business since 2015, firstly as a member of the Supervisory Board for Rimac Automobili and then later as Chairman of the Supervisory Board for Bugatti Rimac from 2021 and for the Rimac Group from 2023. With his detailed knowledge of the business, he can quickly assume the responsibilities of the Rimac Group CEO.
“For years now I’ve been sitting in three seats as CEO of the Group, Bugatti Rimac and Rimac Technology. As these businesses grow, it has become harder and harder for me to fully dedicate myself to those three jobs, so I’ve made the decision to take less of an active role in the Group, and to focus on the important work we have in Bugatti Rimac and Rimac Technology. Antony has been a major part of the Rimac story for almost a decade now, providing valuable advice and using his vast experience. He excitedly accepted our offer to become the Group CEO, and I have full confidence that the new structure will help us execute our strategy in a better way.” Mate Rimac. Founder and President of the Rimac Group, CEO Bugatti Rimac and Rimac Technology Read More
The 60 members of the Car of the Year jury announced its seven finalists for the 2025 Car of the Year
After extensive testing of a 42 model strong longlist, the All-New Dacia Duster stood out from the crowd Being a finalist for the Car of the Year accolade is a first for the Dacia brand. Based on the CMF-B platform, the All-New Duster benefits from electrified powertrains, such as the HYBRID 140. Its efficiency makes it possible to drive in all-electric mode up to 80% of the time in cities, which reduces fuel consumption by up to 40% on the urban cycle.
Innovation on the All-New Duster also include features that reduces its carbon footprint using recycled materials. This is most prominent with Starkle®, a pioneering fully recyclable plastic made from 20% recycled materials that is proudly used as part of the design on the exterior of the vehicle.
Further innovations include Dacia’s YouClip system. It offers the possibility of personalising the interior with various accessories, such as a smartphone holder and a clever 3-in-1 cupholder. Read More
Renault announce that Renault 5 E-Tech electric is one of seven finalists shortlisted by the European Car of the Year jury for the prestigious Car of the Year 2025 award. A jury of 60 journalists from 23 countries tested and assessed a total of 42 vehicles before shortlisting the seven finalists. Succeeding last year’s victor – Scenic E-Tech electric – the winner will be announced on 10 January 2025 at the Brussels Motor Show.
For the fourth consecutive year, Renault has a model among the seven finalists:
2022: Megane E-Tech electric
2023: Austral
2024: Scenic E-Tech electric (winner)
2025: Renault 5 E-Tech electric
Alpine, which had also competed in the 2019 final with its iconic A110, is once again in the final race of the election with A290, its brand new 100 % electric city sports car, alongside Renault 5 E-Tech electric. Read More
Horisont Energi continues to progress the project activities within carbon infrastructure, carbon storage and clean ammonia, at the same time moving forward as planned with the strategic review.
“We are making progress in our core business areas, with developments related to the Gismarvik CO2 hub, including paid studies with emitters and licences, and the submission of an EU funding application. Additionally, we have filed a licence application for a new carbon storage site in the North Sea. The financial position remains a key focus area, and we are working towards creating a successful outcome of the strategic review”, say Bjørgulf Haukelidsæter Eidesen and Leiv Kallestad, Co-CEOs, Horisont Energi.
HIGHLIGHTS Q3 2024
Horisont Energi has initiated a strategic review with its Board of Directors and major shareholders to explore several options for its project portfolio within CCS and clean ammonia
Licence application for a new carbon storage licence in the North Sea was submitted 29 August
MAIN SUBSEQUENT EVENTS
Entered into a Collaboration Agreement with ECOLOG and Tata Steel NL to develop the Norwegian-Dutch CO2 corridor further and enable industrial-scale CO2 transport between The Netherlands and Gismarvik CO2 hub
Submitted funding application through the EU’s Project of Mutual Interest initiative in the quarter
Entered into a new collaboration for CO2 storage developments in Europe with a leading global technology company to cooperate on the development of carbon capture and storage (CCS) projects in Europe (outside of Norway)
FINANCIAL HIGHLIGHTS
Further reductions in operating losses to NOK 25.7 million (~40% reduction vs. Q3 2023)
Cash and cash equivalents amounted to NOK 98.3 million at the end of Q3 2024 Read More
Hyundai Motor Company (HMC) today announced the appointment of José Muñoz as the company’s President and CEO, effective Jan. 1, 2025. Muñoz will lead Hyundai Motor Company’s global business, succeeding current President and CEO Jaehoon Chang, who has been promoted to the Vice Chair of Hyundai Motor Group – Automotive Division.
Muñoz will oversee the execution of the company’s customer-focused vision of ‘Progress for Humanity’, building on its leadership position in next-generation mobility, including electrification, diversified powertrain offerings and hydrogen technology. He will also focus on advancing the company’s global management system to further strengthen Hyundai Motor’s status as a global brand.
Muñoz joined Hyundai Motor Company in 2019 as President and Global Chief Operating Officer and President and CEO of Hyundai and Genesis Motor North America. In 2022, Muñoz was announced to the Hyundai Motor Company Board of Directors with expanded responsibilities to include Europe, India, Middle East and Africa, and Asia Pacific. He also led global sales, service and product planning as part of the Global Operations Division.
In addition, Muñoz drove a profitability-focused sales structure through optimized volume and profit management. This resulted in record sales, market share growth and financial performance for both the Hyundai and Genesis brands in the North American market, contributing to the Group’s achievement of ranking in the top three of global automotive companies by sales.
He has enhanced operational performance, strengthened dealership networks and improved the company’s competitiveness by attracting and retaining top leadership talent. Under his leadership, $12.6 billion is being invested to build the new Hyundai Motor Group Metaplant America production facility and two battery joint ventures in Georgia. Read full article
Norbert Michelisz is a back-to-back touring car champion after he secured the Kumho FIA TCR World Tour Drivers’ title at the wheel of a Hyundai ELANTRA N TCR in Macau. Competing for BRC Hyundai N Squadra Corse, the Hyundai Motorsport Customer Racing driver started the season decider on the hugely challenging Circuito da Guia street track leading by 10 points.
After finishing second in Race 1 on Saturday, Michelisz lined up for Race 2 with a five-point advantage. When racing eventually got under way on a damp but drying track following a lengthy delay due to heavy rain, the Hungarian drove with utmost caution to lead home a Hyundai ELANTRA N TCR formation finish in fifth place ahead of team-mates Mikel Azcona and Néstor Girolami.
With his closest rival Thed Björk down in eighth place in Race 2, Michelisz completed the season with a table-topping 323 points to take overall honours and follow up on the TCR World Tour crown he won in 2023. It was Michelisz’s second FIA world title after he won the WTCR – FIA World Touring Car Cup in 2019, one year after Gabriele Tarquini, now BRC Hyundai N Squadra Corse’s Team Manager, achieved the same feat. As a result, the Italian BRC Racing Team has now celebrated winning five drivers’ championships in seven years, including three in a row with Michelisz’s back-to-back crowns coming after Azcona took the final WTCR titles. Read More
Horisont Energi and ECOLOG have entered into a Collaboration Agreement to further develop the Norway – Netherlands CO2 corridor and enable industrial-scale CO2 transport between the Netherlands and the planned Gismarvik CO2 hub in Norway.
“The Collaboration Agreement with ECOLOG, Tata Steel Nederland, Port of Amsterdam, OCAP, DNB, Haugaland Business Park and ABN AMBRO strengthen Norway’s ties to the European continent and will enhance the attractiveness of Gismarvik CO2 hub and new CO2 storage sites on the Norwegian Continental Shelf. A Norwegian-Dutch CO2 corridor can enable permanent and safe sequestration of significant CO2 volumes, to accelerate the transition to a more sustainable future”, says Horisont Energi’s Co-CEOs Bjørgulf Haukelidsæter Eidesen and Leiv Kallestad.
The agreement builds on the Cross-Border Transport Memorandum of Understanding (MOU) signed between the governments of Norway and the Netherlands on 15 April 2024.
The purpose of the Collaboration Agreement is to initiate a partnership among CO2 value chain stakeholders, evaluate feasibility, and advance the implementation of a CO2 Corridor between the two countries with clear milestones and timelines. Horisont Infra’s Gismarvik CO2 hub project at Haugaland Business Park is intended to play a key role as the import terminal and injection hub for permanent sequestration of the CO2 on the Norwegian Continental Shelf.
Gismarvik CO2 hub is planned to be developed in several stages with a capacity up to 24 million tons per year, which equals about 50% of Norway’s annual CO2 emissions.
ECOLOG is developing a central aggregation and liquefaction export terminal in Amsterdam to provide CO2 emitters in the region with a viable decarbonisation solution and connect industry with sequestration capacity in Norway. . Read Press Release
Eni report on the purchase of treasury shares
During the period from 4 to 8 November 2024, Eni acquired on the Euronext Milan no. 4,443,065 shares (equal to 0.14% of the share capital), at a weighted average price per share equal to 14.0676 euro, for a total consideration of 62,503,134.51 euro within the second tranche of the treasury shares program approved by the Shareholders’ Meeting on 15 May 2024, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999, for the purpose of paying to the Shareholders an additional remuneration compared to the distribution of dividends. Read more
McDermott has been awarded a large* engineering, procurement, removal and disposal (EPRD) contract by Santos for the decommissioning of the Harriet Alpha platform and associated infrastructure, located offshore Western Australia.
The contract follows the successful execution of the Campbell decommissioning project for Santos in Australia.
Part of the Harriet Joint Venture (HJV) assets, the Harriet Alpha platform is one of the largest facilities slated for decommissioning.
McDermott will provide EPRD services, including engineering, procurement and fabrication of specialized equipment, as well as the removal and transportation of the platform structure to an onshore facility for dismantling and disposal. The contract scope also includes the removal, transportation and disposal of a flare tower, exploration well and subsea development system comprising of two subsea template wells. Project management and engineering will be executed by McDermott’s team in Perth, Australia, with support from Batam, Indonesia and Kuala Lumpur, Malaysia. Read More
Hyundai Motor America listed ins Certified™ by Great Place To Work®, for the second year in a row. The prestigious award is based entirely on current employees’ experience working at Hyundai and its luxury brand, Genesis. This year, 76% of responders said it’s a Great Place To Work – a +3% increase from last year and 19 points higher than the average U.S. company. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $68.54 | Down |
| Crude Oil (Brent) | USD/bbl | $72.76 | Down |
| Bonny Light 18/11/24 , CBN | USD/bbl | $73.78 | Down |
| Dubai | USD/bbl | $71.56 | Down |
| Natural Gas | USD/MMBtu | $2.96 | Up |
| Murban Crude | USD/bbl | $72.14 | Down |
| OPEC basket 17/11/24 | USD/bbl | $71.20 | Up |
Equinor and its partners have made an oil and gas discovery in wildcat wells 35/11-30 S and 35/11-30 A (“Rhombi”) in the North Sea.
Preliminary estimates indicate the size of the discovery is between 2.0-4.5 million standard cubic metres (Sm3) of recoverable oil equivalent. This corresponds to between 12.6 and 28.3 million barrels.
The drilling operation was carried out by the Deepsea Atlantic rig. These were exploration wells number 22 and 23 in production licence 090, awarded in the eighth licensing round in 1984.
There has been significant exploration activity in this area in recent years. Several discoveries have been made in what are referred to as the Fram licences, as well as in surrounding production licences.
The licensees are considering tying the Rhombi discovery to future or existing infrastructure in the area.
The Fram axis (Fram, Fram-H-Nord, Byrding) is routed to the Troll C platform for processing and export.. Read full article
Neste has once again been recognized as a Leader in Global Child Forum’s annual benchmark, The State of Children’s Rights and Business 2024. Global Child Forum is a Swedish non-profit foundation, which benchmarks the world’s most influential companies to assess how they address children’s rights.
Neste has achieved a score of 9 out of 10 in this year’s benchmark, its highest ranking to date. This accomplishment demonstrates Neste’s year-on-year improvement and ongoing commitment to safeguarding children’s rights throughout its operations and value chains.
Neste is ranked among the top 10 companies out of 1,802 benchmarked across eight sectors and six regions, and placed first out of 237 companies in the energy and utilities sector. . Read full article
Neste’s SAF is supplied to Canada
Neste and Air Canada have signed an agreement for the supply of 60,000 metric tons (77.6 million liters) of neat Neste MY Sustainable Aviation Fuel™. Neste will deliver the sustainable aviation fuel (SAF) blended with conventional jet fuel to the Vancouver marine terminal starting in December 2024, with further shipments throughout 2025. The Vancouver marine terminal has a direct pipeline connection to the fuel facilities at Vancouver International Airport enabling the use of the blended SAF at the airport.
The agreement builds on the existing partnership between the two companies and supports Air Canada’s environmental sustainability commitments which include a target to procure SAF to account for 1% of the airline’s estimated 2025 jet fuel use. In 2023, Neste supplied SAF purchased by Air Canada at San Francisco International Airport and Amsterdam Airport Schiphol.. Read full article
Neste and Singapore-based essential chemicals company PCS Pte. Ltd. (“PCS”) have launched a cooperation for the supply of renewable solutions to Southeast Asia’s chemicals industry. The collaboration aims at introducing renewable raw materials to replace fossil ones in chemicals and plastics value chains in the region.
Neste will supply PCS with Neste RE™, a renewable material for the production of chemicals and plastics. Based on renewable wastes, such as used cooking oil, or residues from vegetable oil processing, Neste RE will serve as a replacement for fossil raw materials used at PCS facilities on Jurong Island in Singapore. Using Neste RE, PCS will produce essential products, such as ethylene, propylene or butadiene, across its portfolio. These essential products will then be supplied to customers in various sectors across the region. First deliveries will include butadiene to Mitsubishi Corporation, Toray Plastics (Malaysia) Sdn Berhad and Synthomer Sdn Bhd, through which renewable solutions will make their way to end user applications in the industry. While the products from these ISCC (International Sustainability and Carbon Certification) certified supply chains will be equal to their fossil counterparts in terms of quality, safety and performance, the use of renewable instead of fossil raw materials will reduce their carbon footprint. . Read full article
Baker Hughes Rig Count: U.S. -1 584 Canada -7 to 200
U.S. Rig Count is down 1 from last week to 584 with oil rigs down 1 to 478, gas rigs down 1 to 101 and miscellaneous rigs up 1 to 5.
Canada Rig Count is down 7 from last week to 200, with oil rigs down 5 to 137, gas rigs down 2 to 63 and miscellaneous rigs unchanged at 0.
International Rig Count is up 3 rigs from last month to 950 with land rigs down 9 to 726, offshore rigs up 12 to 224.
The U.S. Offshore Rig Count is unchanged at 16, down 5 year-over-year.
The Worldwide Rig Count for October was 1,754, up 4 from the 1,751 counted in September 2024, and down 22, from the 1,776 counted in October 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 15 November 2024 | 584 | -1 |
| Canada | 15 November 2024 | 200 | -7 |
| International | October 2024 | 950 | +3 |
Eni Rovuma Basin, on behalf of the Area 4 Partners, inaugurated the new Intensive Care Unit and Radiology services at Pemba Provincial Hospital together with the Minister of Health, Dr. Armindo Tiago, and the Secretary of State of Cabo Delgado Province, António Supeia.
This project was implemented under the Memorandum of Understanding signed with the Ministry of Health (MISAU) in December 2022, aimed at supporting the government in reinforcing the National Health Services and includes the strengthening of the Radiology Services and the installation of a Computerized Tomography Scan (CT Scan), as well as the enlargement of the Intensive Care Unit to accommodate 4 additional beds fully equipped with modern technology. A new pharmacy block and a waiting room for the patients were also built. Read More
Ceer, Saudi Arabia’s first electric vehicle (EV) brand, a joint venture between the Public Investment Fund (PIF) and Hon Hai Precision Industry Co. (Foxconn), has signed a partnership with Rimac Technology for the supply of high-performance, fully integrated Electric Drive Systems (EDS) for its upcoming flagship range of EVs
The collaboration was made official at a signing ceremony held at Rimac in Croatia on 17th October, attended by Rimac Technology CEO Mate Rimac and CEER Motors CEO James DeLuca.
“We are delighted to be the first company and large-scale project in the GCC to partner with Rimac Technology in order to equip Ceer flagship vehicles with the most advanced high performance electric drive systems and solutions. Rimac’s global reputation and know-how in designing leading edge performance powertrain systems aligns perfectly with our strategic objectives of partnering with global industry leaders as we fulfill our commitment to delivering world-class, high performance electric vehicles and revolutionize the automotive industry in Saudi Arabia.” James DeLuca, CEO, Ceer Read More
Hydro starts battery and solar rooftop operations at Offenburg aluminium plant in Germany
Aluminium and renewable energy company Hydro takes another step towards decarbonizing its aluminium plants by beginning local, onsite solar energy production and energy efficiency measures in Germany. The first systems in Offenburg have been completed and recently began interim operations. In addition to Offenburg, Hydro’s two plants in Rackwitz and Uphusen, Germany are installing solar photovoltaic (PV) rooftops and battery storage, aimed at switching to locally produced energy. The plants will install rooftop solar panels with a combined annual production of 854 MWh, in addition to 1,500 kW battery packs, which can help smooth the consumption curve during high load hours and save costs.
The project started in 2023, and with the first solar PV and battery storage system in operation, the concept has proven successful. The remaining systems will be completed and put into operation by early 2025. The project is led and delivered by Hydro Rein, a joint venture between Hydro and Macquarie, specializing in renewable energy generation. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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