Latest Energy/Automotive News |WTI Crude @ $92.57/bbl, BRENT @ $94.97/bbl
London, 19 September, 2023, (Oilandgaspress) – The EIA’s latest drilling productivity report estimates that US shale oil production will fall by 40Mbbls/d MoM to 9.39MMbbls/d in October .
The outright price of Nigerian crude Qua Iboe surpassed $100 a barrel on Monday, according to LSEG data. Qua Iboe, and some other crudes priced against Brent, are above $100 already because they are based on the price of dated Brent plus a cash differential or premium, currently assessed by LSEG at around $4.25 a barrel,, Reuters reported
Automotive history is diverse and colourful. This is also to be understood quite literally, as the fascinating colours, shades and contrasts in the Mercedes-Benz Museum exhibition show. However, many people are affected by colour blindness (colour vision deficiency) and cannot perceive the full range of hues and shades. Various forms of red-green colour blindness, referred to by experts as “anomalous trichromacy”, are particularly common with one in 12 men (8 per cent) and one in 200 women (0.5 per cent) affected. For visitors with this limitation, the Mercedes-Benz now offers the public special glasses of the company EnChroma. These glasses very precisely filter a small part of the colour spectrum from the visible light, making it possible to see an expanded range of distinct, vibrant colour. The result is a much more colourful and contrast-rich perception of the surroundings. Adults and children can now borrow these special aids to colour vision, free of charge, for their visit to the exhibition. Read More
Autonomous driving and smart e-bikes, buses on demand and delivery services day and night: how exactly does our mobility work – today and in the future? This question is the subject of the new special exhibition: ON THE MOVE – YOUR WAYS. YOUR DECISIONS. YOUR FUTURE. at the Mercedes-Benz Museum. It invites visitors to actively engage individually and intuitively with mobility and the changes it brings in many different respects. The examples extend all the way to concepts for urban areas with new relationships between living and working spaces. From 15 September 2023 to 17 November 2024, the interactive exhibition can be experienced free of charge on Level 0 of the Mercedes-Benz Museum. The exhibition tour consists of experience-specific and topic-specific stations, as well as the “Stuttgart Wall” with references to further events and exciting mobility locations in the city. For the content and questions, six companies have contributed their knowledge as partners of the exhibition: Robert Bosch GmbH (Bosch eBike Systems), German Aerospace Center (DLR), Mercedes-Benz AG, Stadtwerke Stuttgart GmbH, Stuttgarter Straßenbahnen AG and Stuttgarter Wohnungs- und Städtebaugesellschaft mbH. Read More
FIAT continues to lead the way for sustainable urban mobility and presents the New Fiat 600e, a great addition to the Brand’s range that marks its return to the B-segment. And it does so by taking everything you love about the B-segment and upgrading it in every aspect: increased space, increased range, increased Dolce Vita feel. Simply put, the New Fiat 600e takes the best of the B and B-SUV worlds to offer a beautiful, joyful, and pampered driving experience.
Following the success of its predecessor and best-seller the Fiat 600 from the ‘50s, also renowned as the family mover, the New Fiat 600e places itself in the heart of the fast-growing B segment.
The New Fiat 600e represents the ideal solution for both city lovers and outdoor enthusiasts and is the perfect embodiment of the brand’s values of Italian style and sustainability. It’s cool and beautiful, it has a generous size of 4,17 meters length with a comfortable roominess for 5, it’s best in class front storage, it boasts an electric range of more than 400km (WLTP combined cycle) and more than 600 km in the city (WLTP urban cycle) and offers state-of-the-art safety features.
Available in 2 different full-electric versions, New Fiat 600e La Prima and New Fiat (600e)RED, it is a family friendly solution to fully experience pure Italian Dolce Vita, with an eye to the environment and a care for social causes. Read More
Bentley Motors has collaborated with the award-winning fashion designer Supriya Lele, who is known for her sensual blend of femininity and exploration of her British and Indian heritage. Lele has used leather off-cuts from the iconic Bentley Motors Factory in Crewe to create three concept garments, exclusively revealed at her London Fashion Week show, which also sees her return to the catwalk for the Spring/Summer 2024 season.
It is a collaboration born from shared ideologies of craft, excellence, heritage, quiet luxury, alongside the history and prowess of the Bentley.
“It was an exciting proposition to work with Bentley – an incredible heritage car manufacturer that needs no introduction with a level of craftsmanship and detail that is second to none. A visit to the Crewe headquarters introduced me to the unique and fascinating methods of Bentley’s manufacture – the level of perfection and expertise reminded me of an elevated couture atelier,” Lele commented.
It was on this trip that Lele conceived the three garment designs which she felt could reflect the quality of the leather and do the fabric justice, while serving the rest of the collection, which is a culmination of key developments over the course of the past year. Read More
Each year, on the weekend closest to the birthday of Ettore Bugatti – 15 September 1881 – the town of Molsheim in Alsace is transformed with a three-day celebration of Ettore’s incredible legacy. The Bugatti Festival, organized by the Enthousiastes Bugatti Alsace (EBA), is a pilgrimage of Bugatti fans from all over the world, descending on the place that will forever be known as the home of this legendary brand. The grounds of the Château were transformed with a display of Bugatti cars while inside the Château itself sat a curated exhibition of the furniture of Carlo Bugatti and the sculptures of Rembrandt Bugatti – kindly provided by Perridon Holdings purely for this occasion – the artistic inspiration from Ettore’s family, which translated directly into his cars. Read More
The 2023 Genesis Electrified GV70, Hyundai Ioniq 6 and Lexus RZ have been named Top Safety Pick+ award winners by the Insurance Institute for Highway Safety. The Top Safety Pick+ award is the institute’s highest honor, awarded to vehicles that lead the industry in occupant and pedestrian protection.The Electrified GV70, Ioniq 6, and RZ join a number of other EVs on IIHS’s list of Top Safety Pick+ winners. Of the 51 vehicles that earned the award in 2023, 10 are electric: the Audi Q4 E-Tron and Q4 E-Tron Sportback, Audi Q8 E-Tron and E-Tron Sportback, Genesis GV60, Rivian R1S and R1T, Subaru Solterra, Tesla Model Y, and Volkswagen ID.4. Vehicles that earned the TSPP award in the past don’t necessarily qualify, as IIHS tightened the requirements for 2024. The nighttime vehicle-to-pedestrian test is new, and qualifying also now demands better performance in the side-impact test. Read More
Toyota Motor Europe and VDL Groep announced last May, the companies have now launched their first fuel cell demo truck. By integrating Toyota’s fuel cell technology into VDL heavy-duty trucks, Toyota aims to decarbonise its logistic operations in Europe.
This first demo truck will be used to perform road testing and evaluation of improvements towards the next steps of the project. VDL Groep is preparing four more fuel cell trucks, which will be used by Toyota’s logistic providers VOS Transport Group, CEVA, Groupe CAT and Yusen. These transportation companies will greatly contribute to the project by using the hydrogen trucks on their daily logistics routes passing by Belgium (Antwerp), France (Lille), Germany (Cologne), and the Netherlands (Amsterdam and Rotterdam). The four routes have at least one hydrogen refuelling station (HRS) each, including back-up solutions.
The cooperation between all parties is expected to consolidate the learnings on how to deploy fuel cell trucks on public roads and contribute to Europe’s ecological energy transition. The 5-year trial is expected to stimulate the further development of a sustainable hydrogen infrastructure across Europe meeting the AFIR requirements and allow for more carbon neutral hydrogen mobility solutions to emerge. This project is complementing Toyota’s initiatives to decarbonise logistics and supporting their long-term goal to become fully carbon-neutral by 2040. Beyond the electrification of passenger cars, the company sees high value in collaborating with multiple partners to accelerate the transition to a sustainable and accessible zero-emission hydrogen economy. It is therefore partnering with companies from all mobility sectors and with different skills in order to test and provide reliable and efficient solutions. Read More
DNO Makes Play-Opening Discovery at Norma
Oslo, 19 September 2023 – DNO ASA, the Norwegian oil and gas operator, today announced a gas condensate discovery on the Norma prospect in the Norwegian North Sea license PL984 in which the Company holds a 30 percent operated interest.
Preliminary evaluation of the discovery indicates gross recoverable resources in the range of 25-130 million barrels of oil equivalent (MMboe) on a P90-P10 basis, with a mean of 70 MMboe, in a Jurassic reservoir zone with high quality sandstones. Located 20 kilometers northwest of the Balder hub and 30 kilometers south of the Alvheim hub, Norma is situated in an area with extensive infrastructure in the central part of the North Sea, with tie-back options offering potential routes to commercialization.
Also within the same license, DNO has identified additional exploration prospects that have been considerably de-risked by the Norma results.
“Coming on the heels of our six Troll-Gjøa area discoveries since 2021, three of which were made this year including Carmen, Heisenberg and Røver Sør, Norma opens up an exciting new play for DNO in the North Sea,” said Executive Chairman Bijan Mossavar-Rahmani. “At the risk of hoodooing our crack explorationists, the string of recent discoveries validates DNO’s offshore Norway exploration strategy,” he added.
Drilled to a vertical depth of 4,800 meters with the Deepsea Yantai drilling rig, Norma is DNO’s first operated high-pressure high-temperature exploration well. At 4,650 meters, the discovery well encountered a 16-meter hydrocarbon column in a 20-meter gross reservoir section in Jurassic sandstones. Several gas condensate samples were collected in the reservoir. In addition, a water sample was acquired. A bypass core of 33.7 meters was secured and an extensive data and sampling program conducted.
This discovery is considered a play-opener for the deep turbiditic sands in this area given the exceptionally good reservoir quality encountered. Plans are underway to further delineate the discovery and the upside potential in the license. Before further appraisal drilling, improved seismic imaging and remapping will be undertaken to identify an optimal location for the next well.
Even with the additional extensive data collection protocols, the Norma well is expected to be finished 15 days ahead of plan and at a cost eight percent below budget. Plug and abandonment operations have commenced this week.
DNO was awarded an interest in PL984 in 2019 through its wholly-owned subsidiary DNO Norge AS. The other partners in the license are Source Energy AS, Equinor Energy AS, Vår Energi ASA (20 percent each) and Aker BP ASA (10 percent).
The Deepsea Yantai will move to drill the Company’s next well, appraising the 2022 Ofelia discovery (DNO 10 percent). Read More
The Johan Castberg partnership, consisting of Equinor, Vår Energi and Petoro, is today updating the project cost estimate. The investment estimate has increased by almost NOK 13 billion since last year.
Our plan for production start in the fourth quarter of 2024 remains unchanged.In 2022, the Johan Castberg hull, including living quarters, was transported from Singapore to Stord for installation and commissioning. The main reason for the rise in the investment estimate from last year is that the workload transferred to Stord has been more comprehensive and complex than estimated. In addition, the project has not progressed as planned. Due to the market cost development the marine operations, drilling and completion costs have also increased.
When the plan for development and operation (PDO) was submitted in 2017, the cost estimate was NOK 57 billion (2023). The updated project cost estimate is now NOK 80 billion. Project costs have risen by NOK 15.5 billion, in addition to a currency effect of just above NOK 7 billion.
Infection control measures and reduced access to labour in connection with the Covid-19 pandemic affected the project, both in Singapore, where the hull and living quarters for the production vessel were constructed, and at Norwegian yards constructing modules for the production facility. Proven volumes in Johan Castberg are estimated at between 450 and 650 million barrels of oil. The vessel is designed for a daily production of close to 190 000 barrels. Read More
Vestas has received a firm order from HOFOR for the Bjørnstrup wind park in Midtjylland, Denmark.
The order consists of six V136-4.5 MW wind turbines and includes supply, delivery, and commissioning of the turbines. Upon completion, Vestas will service the turbines under a long-term Active Output Management 5000 (AOM 5000) service agreement designed to ensure optimised performance of the assets.
“We are proud to realise this project together with HOFOR in a Danish wind energy market that is seeing very low activity levels. This collaboration highlights that our project offering with the established 4 MW platform delivers a strong business case for our customers that enables progress in challenging market conditions,” says Anna Schlasberg Wachtmeister, Vice President Sales for Northern and Central Europe at Vestas.”
Jesper Pedersen, Head of Wind & Energy Trade, HOFOR – Greater Copenhagen Utility, says “We’ve been working on this project for more than five years. It’s been a long and at times challenging road to get to where we are today. For this reason also I’m extremely happy that we’ve reached an agreement with Vestas. I’m looking forward to our cooperation in the coming years on building and maintaining the wind farm.”
Turbine delivery is expected to begin in the fourth quarter of 2024 with commissioning scheduled for completion in the second quarter of 2025. Read More
A Lamborghini Podcast is exploring a different kind of feedback for its next instalment. Hosted by Lamborghini Director of Communications Tim Bravo and lifestyle and music broadcaster Giulia Salvi, the focus is on the way sound shapes our relationship with cars.For this episode, Rouven Mohr, Chief Technical Officer at Automobili Lamborghini, is joined by Charles Deneen, a composer, sound designer and audio director who has a worldwide reputation thanks to his work in video game design and for numerous Hollywood blockbusters. Amongst others, Deneen helped shape the automotive soundtrack for The Fast and the Furious series, the seventh highest-grossing franchise in movie history.
Once again, Beyond: A Lamborghini Podcast has united two individuals whose childhood passions have helped them forge highly successful careers. Mohr is presiding over Lamborghini’s technical destiny at a pivotal time both for the company and for the automotive industry as a whole. Lamborghini’s new hybrid super sports car, the Revuelto[1], takes the Italian automotive legend into new territory, not least in terms of the noise it generates as the iconic V12 engine revs to its thrilling 9,500rpm redline – but just as significantly when it’s in ‘silent’ electric mode. Rarely has the sound of a new Lamborghini – or the absence of it – demanded so much attention, as Mohr explains. Read More
KBR announced today it has been awarded a license and engineering design contract by Hanwha Impact Corporation for the world’s first commercial ammonia cracking unit using KBR’s leading H2ACTSM technology in Daesan, Republic of Korea.
KBR, Inc. (PRNewsfoto/KBR, Inc.)
In this largest capacity ammonia cracking plant announced to date, clean hydrogen will serve a planned power plant in Daesan, paving the way for large-scale sustainable hydrogen utilization. Ammonia cracking, the process to convert transported ammonia back to hydrogen, is a key enabler to achieving the world’s decarbonization target.
Under the terms of the contract, KBR will provide technology licensing and proprietary engineering design for the unit, which will be designed to deliver over 200 metric tons per day of clean hydrogen as fuel.
“We are honored to be selected by Hanwha for this flagship project, which will accelerate the realization of their decarbonization targets and play a vital role in Korea’s national sustainability objectives,” said Doug Kelly, President, Technology, KBR. “KBR’s breakthrough ammonia cracking technology, H2ACT, delivers a reliable and holistic solution for large-scale, efficient, and sustainable hydrogen production.”
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
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $92.71 | Up |
| Crude Oil (Brent) | USD/bbl | $95.12 | Up |
| Bonny Light | USD/bbl | $96.73 | Up |
| Saharan Blend | USD/bbl | $95.77 | Up |
| Natural Gas | USD/MMBtu | $2.73 | Up |
| OPEC basket 18/09/23 | USD/bbl | $96.93 | Up |
Baker Hughes Rig Count
U.S. Rig Count is up 9 from last week to 641 with oil rigs up 2 to 515, gas rigs up 8 to 121 and miscellaneous rigs down 1 to 5.
Canada Rig Count is up 8 from last week to 190, with oil rigs up 6 to 119 gas rigs up 2 to 71.
| Region | Period | Rig Count | Change |
| U.S.A | 15 September 2023 | 641 | +9 |
| Canada | 15 September 2023 | 190 | +8 |
| International | August 2023 | 952 | -9 |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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