Latest Energy / Automotive News 04 April 2023: OPEC daily basket price at US$84.84/bl
London, 04 April, 2023, (Oilandgaspress): U.S. President Joe Biden’s administration has repeatedly lambasted the OPEC+ group for its production cuts, citing the inflationary toll on households and flinging accusations of camaraderie with sanctions-struck Russia. Curbs in production lead to smaller supply, causing higher prices at the pump in importing countries which then provides a boost for headline inflation figures.OPEC Secretariat said they represent “a precautionary measure aimed at supporting the stability of the oil market.” The JMMC will next convene on June 4, with a full ministerial meeting to follow. Read More
Eni S.p.A. and CDP Equity S.p.A., in view of Saipem S.p.A. Shareholders’ Meeting convened for 3 May, 2023, on single call, to resolve, inter alia, on the appointment of the Statutory Auditors, as required by the current Shareholders’ agreement between the companies, will present a joint slate including the following candidates:
Ottavio De Marco, Standing Statutory Auditor;
Antonella Fratalocchi, Standing Statutory Auditor;
Maria Francesca Talamonti, Alternate Statutory Auditor.
The filing of the slate will be carried out in accordance with the terms and conditions provided by law, Saipem’s By-laws, the notice of Shareholders’ Meeting and the Shareholders’ agreement.
At Saipem’s Shareholders’ Meeting, Eni and CDP Equity will also submit a proposal to confirm the current remuneration for Statutory Auditors and, therefore, to fix the gross annual remuneration due to the Chairman of the Board of Statutory Auditors in 70,000 euros and the one due to each of the other Standing Statutory Auditors in 50,000 euros, plus reimbursement of expenses incurred for the office matters.
Eni holds 622,476,192 ordinary shares of Saipem representing 31.19% of the total amount of ordinary shares.
CDP Equity holds 255,841,728 ordinary shares of Saipem S.p.A. representing 12.82% of the total amount of ordinary shares.
Eni and CDP Equity have entered into a Shareholders’ agreement related to the ordinary shares of Saipem whose essential information is available on the websites of Saipem and Consob. Read More
TOYOTA GAZOO Racing (TGR) has announced details on the TOYOTA GAZOO Racing GT CUP (TGR GT Cup) 2023, an online race in “Gran Turismo 7” for PlayStation®5＊1 (PS5™) and PlayStation®4＊1 (PS4®). The TGR GT Cup is a global competition held in “Gran Turismo 7” in which the GR lineup, dedicated racing cars, and other cars participate in competitive racing throughout the season. This year’s event will feature a collaborative round with TGR’s partners in the Super Taikyu series, Mazda Motor Corporation (Mazda) and Subaru Corporation (SUBARU). Seven qualifying rounds will be held online, and the world’s top 24 players will qualify for the final.The opening round is a race with the AE86 (Sprinter Trueno and Corolla Levin), a popular car in the Gran Turismo series, which celebrated its 25th anniversary last year. Round 3 will be a virtual version of the 24 Hours of Le Mans, which marks its 100th anniversary this year. All users who enter the event will receive a GR010 HYBRID with the 2023 livery in commemoration of the fifth year of TGR’s e-Motorsports activities.
Round 4 also features a Virtual GR86/BRZ Cup to be held with round partner SUBARU. Read More
U.S. Environmental Protection Agency (EPA) announced a consent order with Joshua Davis, River City Diesel LLC, RCD Performance LLC, and Midwest Truck and 4WD Center LLC (collectively Defendants) of East Peoria, Illinois, which requires the defendants to stop manufacturing, selling, offering to sell, and installing devices that bypass, defeat, or render inoperative EPA-approved emission controls and harm air quality, commonly referred to as Aftermarket Defeat Devices.
The settlement announced today resolves a Complaint filed in August 2022 in the United States District Court for the Central District of Illinois, alleging that Mr. Davis and the other defendants’ manufacture, sale and installation of tens of thousands of defeat devices violated the Clean Air Act. The Defendants will pay a $600,000 penalty, which was based on their financial situation, and agree to notify customers that Defendants will no longer provide technical support or honor warranty claims for the defeat device products.
“By providing devices that avoid air emissions controls, defendants helped others cheat a system designed to protect the public’s health, in particular, elderly and young children,” said Acting Assistant Administrator Larry Starfield of EPA’s Office of Enforcement and Compliance Assurance. “Today’s settlement holds them accountable for their unlawful acts and not only prohibits the future sale of aftermarket defeat devices by the Defendants, but also mandates Clean Air Act compliance training for all of their employees.”
As a result of EPA’s efforts to improve air quality and fuel efficiency, cars and trucks manufactured today emit far less pollution than older vehicles. To meet EPA’s emission standards, engine manufacturers have carefully calibrated their engines and installed sophisticated emissions control systems.
Tampering with diesel-powered vehicles by installing defeat devices causes large amounts of nitrogen oxide and particulate matter emissions, both of which contribute to serious public health problems. These include premature death, aggravation of respiratory and cardiovascular disease, aggravation of existing asthma, acute respiratory symptoms, chronic bronchitis, and decreased lung function. Numerous studies also link diesel exhaust to increased incidence of lung cancer. Respiratory issues disproportionately affect families, especially children, living in underserved communities overburdened by pollution. Stopping the sale and use of defeat devices will help reduce harmful air pollution that exacerbates the health effects of pollutant exposures. The Consent Decree for this settlement was lodged in the U.S. District Court for the Central District of Illinois and will be available for review and public comments for no less than thirty days. Read More
The U.S. Environmental Protection Agency (EPA) has just published the first ever Chemical Data Reporting (CDR) National Review, a web-based, interactive report with comprehensive analysis of data submitted to the Agency during the 2020 CDR reporting cycle. The National Review increases public awareness of chemicals being manufactured in communities and helps EPA and a variety of stakeholders (including citizens and communities, other regulatory agencies, industry, researchers and nongovernmental organizations) evaluate and understand information including the types, quantities and uses of chemicals produced domestically or imported into the U.S. Read More
The first flight of the fourth GlobalEye is an important milestone in Saab’s Airborne Early Warning & Control (AEW&C) programme and highlights that Saab can rapidly and reliably deliver GlobalEye. The aircraft took to the skies from Saab’s airfield in Linköping, Sweden on April 03, 2023 and performed several tests related to the aircraft’s capabilities. “We are very satisfied with this successful first flight of another GlobalEye. This confirms that we have the infrastructure, the capabilities and the expertise necessary to support our customers with the most advanced AEW&C solution in a time frame that is unmatched in the market,” says Carl-Johan Bergholm, head of Saab´s business area Surveillance. GlobalEye is the most modern multi-domain Airborne Early Warning & Control (AEW&C) solution with an array of active and passive sensors that provide long-range detection and identification of objects in air, at sea and over land. By providing real-time information to units in air forces, armies and navies, GlobalEye enables enhanced situational awareness of the surrounding areas and early detection of threats. It can also be used for non-military tasks such as leading and coordinating rescue missions during natural disasters or larger accidents at sea or on land. Saab has the largest AEW&C customer base in the world, having delivered solutions over the last 30 years across the Americas, Europe, Middle East and Asia for multiple mission roles. Read More
The U.S. Environmental Protection Agency (EPA) is issuing a decision that grants two requests for waivers of preemption regarding four California Air Resource Board (CARB) regulations related to California’s heavy-duty vehicle and engine emission standards. Under the Clean Air Act, California is afforded broad discretion to adopt emissions requirements to meet their significant air quality challenges, but they must seek waivers from EPA for new motor vehicle emission standards. In this instance, CARB requested two waivers for regulations relating to heavy duty vehicles and engines. After reviewing the technical information provided by CARB, reviewing comments submitted by the public, and applying the limited authority for review under section 209 of the Clean Air Act, EPA determined it appropriate to grant the waiver and authorization requests.
“Under the Clean Air Act, California has longstanding authority to address pollution from cars and trucks. Today’s announcement allows the state to take additional steps in reducing their transportation emissions through these new regulatory actions,” said EPA Administrator Michael S. Regan. Read More
The IEA has developed the current database to provide the most complete coverage of sectoral value-added data, at current and constant prices, and associated energy efficiency indicators. This database merges value added data from three databases (OECD and UNSD National accounts, and OECD Trade in Value Added – TiVA) with IEA energy data. The value-added data is published up to 2-digits for 99 ISIC (Internal Standard Industrial Classification of All Economic Activities) Rev.4 divisions and 34 aggregated divisions for all OECD countries, from year 2000 to year 2021, and will be updated at least once a year. The data also covers 100 non-OECD countries and 12 country groups, offering sub-sectoral data for 3 ISIC Rev.4 divisions (2-digits) for 64 non-OECD countries. For more aggregated data, the coverage increases to 88 countries and 20 of the 21 ISIC Rev.4 sections. Read More
Francis Brown Engineering has established a dedicated pressure vessel division to reflect the growing demand for its specialist fabrication capabilities.
The independent Stockton-on-Tees company, which this year marks its 120th anniversary, has seen an increase in orders for its bespoke pressure vessels across multiple sectors, ranging from chemicals, oil & gas to hydrogen storage applications.
It recently delivered a vertical column pressure vessel for a major client in the global oil and gas industry, which measured 20 metres in length and weighing over 15 tonnes when fitted out with internal trays and external ladders and platforms.
Designed to contain a volatile liquid solution, which is both flammable and corrosive, it took more than 2,370 hours to complete.
Engineered from 304L stainless steel, the pressure vessel was fitted with a carbon steel skirt and insulated and clad in stainless steel. It was manufactured to PD5500:2018, the UK’s standard unfired pressure vessels code, which specifies requirements for the design, construction, inspection, and testing, and can operate at a temperature range between 260c and minus 15c.
A high integrity professional provider of fabrication and engineering services, family-owned Francis Brown Engineering has a strong heritage of delivering projects in the chemical, process, and construction sectors and in the last 4 decades has built up an enviable reputation as a specialist in the fabrication of pressure vessels.
CEO Jamie Brown said: “At Francis Brown Engineering we have built upon our extensive fabrication and welding capabilities to develop a strong track record for delivery of storage pressure vessels to the newly emerging hydrogen industries across the UK and Europe.”
“As a result, we have established a dedicated pressure vessels division to reflect their growing importance to the business as it further strengthens its position these new and existing sectors.”
“We are proud to have delivered the latest stainless steel project on time and within budget for an oil and gas major customer. The vessel was designed and manufactured to the very highest of standards where all the inspection, testing, material certification and welding documentation are as important as the fabrication itself!” Read More
Vladimir Putin has approved a request by Novatek to allow Shell to receive $1.2 billion (94.8 billion rubles) from the Russian gas producer for its 27.5% stake in the Sakhalin-2 LNG project, Russian daily Kommersant reported on Tuesday. According to Kommersant, NOVATEK received Vladimir Putin’s consent for Shell to receive the entire amount of 94.8 billion rubles. for her share in the Sakhalin-2 project and was able to withdraw this money from Russia. NOVATEK is going to buy a share of Shell and has already submitted an application to the government. The Russian authorities were going to audit Sakhalin-2, suspecting Shell of causing damage to the project and planning to reduce the amount of the payment by the amount of damage. But, according to NOVATEK, the identified shortcomings can be covered by the dividends due to Shell from participation in Sakhalin-2 for 2021, which she did not receive in full. Read More
Vitol delivered the first LNG cargo into Finland’s new Inkoo terminal. The cargo was ordered by Elenger, the largest privately owned energy company in the Finnish-Baltic region. The cargo originates from Vitol’s portfolio of US origin LNG, specifically the Venture Global Calcasieu Pass facility, and was transported in the Vivit Americas LNG, a modern LNG tanker which is part of the Vitol fleet. The tanker, sailing under the flag of Malta and built in 2020, is 299 meters long and 46 meters wide. It can hold 174,062 m3 of liquefied gas. Vitol has a global LNG portfolio with long term sourcing contracts from producers in the USA, Middle East, Africa and Asia. In 2022 Vitol traded over 17.5 million toe of LNG with around 67% of this volume being supplied to Europe.
Pablo Galante Escobar, Head of LNG & European Gas and Power, Vitol said: “Vitol is delighted to deliver the first LNG cargo to Elenger via Finland’s Inkoo terminal. The opening of the terminal will enhance energy security in Finland and the Baltic region, facilitating the flow of LNG from around the world to European industry and consumers.”
“As one of the few energy companies operating in the region, we purchase gas directly from the Western sources, this allows us to offer our customers greater security and better prices, and has significantly increased our market share in Finland and the Baltic countries over the past year,” said Pasi Näkki, CEO of Elenger Finland. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $80.93 | Up |
| Crude Oil (Brent) | USD/bbl | $85.37 | Up |
| Bonny Light | USD/bbl | $84.91 | Up |
| Saharan Blend | USD/bbl | $84.85 | Up |
| Natural Gas | USD/MMBtu | $2.11 | Up |
| OPEC basket 03/04/23 | USD/bbl | $84.84 | Up |
OPEC Reference Basket (ORB) made up of Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
KBR (NYSE: KBR) announced today that its K-GreeN® technology has been selected by Avina Clean Hydrogen for its green ammonia project in the U.S. Under the terms of the contracts, KBR will provide the process technology license and engineering design for a grassroots project to produce 2,200 metric tons per day of green ammonia.
As a hydrogen carrier, ammonia is widely acknowledged to play a leading role in decarbonizing power generation and marine transport. The KBR design for Avina encompasses a fully integrated green ammonia solution from electrolysis to ammonia synthesis.
“We are honored that Avina has selected our technology for the largest green ammonia project in North America to date,” said Doug Kelly, KBR President, Technology. “This project underscores that green ammonia can be produced economically at commercial scale and we look forward to working closely with Avina to ensure a successful implementation.”
“We have set out on an ambitious ESG journey and our selection of KBR as the green ammonia technology licensor is a concrete step towards meeting our objectives,” said Vishal Shah, Founder and CEO of Avina Clean Hydrogen Inc. “Our decision was driven both by KBR’s innovative technology as well as their ability to deliver a complete solution”.
KBR is a world leader in ammonia technology. Since 1943, KBR has licensed and designed more than 250 ammonia plants across the globe. Read More
Baker Hughes Rig Count: U.S. -3 to 755 Canada -26 to 139
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 31 March 2023 | 755 | -3 |
| Canada | 31 March 2023 | 139 | -26 |
| International | February 2023 | 915 | +14 |
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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