More Energy News | October 25th, WTI Crude stood at $85.01/bl
Spot gold rose 0.3% to $1,653.28 per ounce, as of 0059 GMT, while U.S. gold futures were up 0.2% at $1,657.70.
Everdrone, a global leader in autonomous drone technology, joins the exclusive list of top innovators to have made the list of Ny Teknik’s Top 33 Most Promising Tech Companies in Sweden – for the third time.
“We are truly honoured to have made it onto the list not once, but three times, alongside giants like Spotify and iZettle”, says Mats Sällström, CEO of Everdrone. “We also hope that this sort of recognition brings awareness of how drones in general can be used to save lives and provide safety in society.”
Everdrone’s revolutionary First on Scene AED Solution, using autonomous drones to deliver defibrillators (AED) to out-of-hospital cardiac arrest patients, is presently operational in Sweden and Denmark, reaching a total of 340,000 people. Read More
Etihad Airways, the national carrier of the United Arab Emirates, has partnered with World Energy, a carbon-net-zero solutions provider, to operate the first NetZero flight powered entirely by Sustainable Aviation Fuel (SAF) Book & Claim, delivering delegates to COP27 with zero net emissions.
The airline will operate its Washington Dulles to Abu Dhabi service, routed via COP27 venue Sharm-El-Sheik to demonstrate the only feasible path to net-zero commercial aviation using current technology, while showcasing the challenges and opportunities of SAF.
Mariam Alqubaisi, Head of Sustainability & Business Excellence, Etihad Airways, said: “This initiative is about proving NetZero commercial aviation is possible, but equally facing up to the significant logistical challenges the industry faces to turn the possible into the routine. Etihad endeavors to make good on its rigorous commitment towards sustainable aviation through the Greenliner programme in partnership with Boeing, GE and other aviation leaders in 2020, followed by the addition of the Sustainabile50 programme in partnership with Airbus and Rolls Royce, coupled with our commitment to achieving net zero emissions by 2050 and halving our net emission levels by 2035. “Through these programmes, we have run a series of ecoFlights over the past two years to test and validate several concepts, and we have made refining and implementing sustainability initiatives an intrinsic part of our day-to-day operation. The NetZero flight is the next logical step after our EY20 operation from London Heathrow to Abu Dhabi in October last year, where we reduced emissions by 72% compared to the same flight in 2019. Read More
The 55th Annual General Meeting of the Arab Air Carriers’ Organization (AACO) will be held between 24 and 26 October 2022 at the “Conrad Etihad Towers”, under the Patronage of His Excellency Mr. Mohammed Ali Al Shorafa Al Hammadi, Chairman of Etihad Aviation Group and Abu Dhabi Department of Economic Development, and by kind invitation of Etihad Aviation Group, with the participation of more than 300 Arab and global aviation experts gathering Chief Executive Officers of AACO member airlines, partner airlines and industry partners from aircraft and engine manufacturers, global distribution systems, information technology partners, and others. The Director General for Mobility and Transport/European Commission, the Director General of EUROCONTROL and the Deputy Director General of IATA are also attending the AGM.
The AGM’s opening ceremony will take place tonight at “Louvre Abu Dhabi”. The Patron of the AGM will be addressing the delegates tonight, followed by an address by AACO Secretary General, Mr. Abdul Wahab Teffaha. The AGM working sessions will be held tomorrow on 25 October at “Conrad Etihad Towers” at “level P4 – Ballroom”. The sessions will feature AACO Secretary General’s report on the “State of the Industry. Read More
The global oil market will still need Russian oil to flow even with the planned price cap, Fatih Birol, the Executive Director of the International Energy Agency (IEA), said on Tuesday. The price cap proposed and pushed by the G7 with the purpose of allowing Russian oil to continue flowing, but at lower than market prices, still has many details to be hashed out, Birol said at the Singapore International Energy Week, as carried by Reuters. Read More
China Petroleum & Chemical Corporation (HKG: 0386, “Sinopec”) has successfully produced China’s first batch of large tow carbon fiber at the company’s production base in Shanghai, making the company the first in the country and fourth in the world to possess large tow carbon fiber technology. Sinopec’s production line has adopted its self-developed PAN (polyacrylonitrile) base large tow precursor and carbon fiber technologies. The project is being implemented in two phases and expects to be in full production in 2024, projecting an annual production capacity of 24,000 tons of protofilament and 12,000 tons of large tow carbon fiber.
Large tow carbon fiber refers to roving that contains 48,000 filaments or more. The high-performance material is often referred to as the “king of new material” and “black gold.” The product developed and manufactured by Sinopec Shanghai is a new type of high-strength carbon fiber with a carbon content of over 95 percent. It has outstanding excellent mechanical properties and a specific gravity that’s less than one fourth of the steel, yet a strength that’s seven to nine times stronger. It is also corrosion resistant.Sinopec now owns 251 patents related to carbon fiber and 46 patents for carbon fiber composite materials, the largest number in China and third in the world, and through scaled up investment and industrial layout, Sinopec is committed to being a major contributor to the development of China’s carbon fiber industry. Read More
Sinopec has discovered new shale gas reserves in the Jinshi 103HF exploratory well deployed in the Sichuan basin, the company said on October 24.
“With a daily natural gas production reaching 258,600 m3 and an evaluated resource capacity of 387.8bn m3, it is a major breakthrough for China’s shale gas exploration, and the first discovery in the Cambrian Qiongzhusi formation,” Sinopec said. “The find has significantly expanded shale gas reserves and will further promote shale gas exploration and production in the Sichuan basin.” The Sichuan basin is composed of two main formations, the Longmaxi and Qiongzhusi. The former has seen significant exploration and production including China’s first deep shale gas field, Weirong, while Qiongzhusi boasts the most potential for future exploration. Read More
3D Oil Limited announce that ConocoPhillips Australia SH2 Pty Ltd and TDO have executed a Joint Operating Agreement (“JOA”) in relation to the offshore Victorian Permit VIC/P79 (“Permit”) which satisfies a key condition of the Farmout Agreement (“FOA”) announced on 1st July 2022. Completion of the farmout will occur following government approval. Under the terms of the FOA, the Company will receive a US$3 million (A$4.841 million) cash payment in exchange for ConocoPhillips Australia acquiring an 80% interest in the Permit and operatorship. In addition, TDO will be carried on the drilling of an exploration well by ConocoPhillips Australia for up to US$35 million (A$56.51 million), after which it will contribute 20% of well costs in line with its interest in the Permit. This second major deal with the ConocoPhillips group of companies is an outstanding result for the Company. ConocoPhillips Australia is the ideal partner to undertake the drilling on the Permit in support of the Company’s goal to become an East Coast gas producer. Read More
Emperor Energy Limited (EMP) has received firm commitments to raise $1,122,000 through the issue of 35 million shares at 3.2 cents per share (The Placement).
• Investors to receive 1 Placement Option per 1 Placement Share subscribed (Terms: $0.05 strike, 2 years expiry;
the options are subject to shareholder approval and will be listed subject to ASX requirements being met.)
• The Placement was led by EverBlu Capital, and attracted strong demand from new and existing shareholders who qualify as sophisticated or professional investors.
• The net proceeds of the Placement strengthen the Company’s balance sheet and provide important funding to company exploration activities.
Placement
The Company has raised $1,122,000 capital from professional, sophisticated and other exempt investors through the issue of 35 million new fully paid ordinary shares in the Company (New Shares) at an issue price of $0.032 (3.2 cents) per New Share. The New Shares will be issued on or around 28 October 2022 subject to receipt of funds. The issue price of 3.2 cents per ordinary share represents a discount of 17.9% to the Company’s 15-day VWAP of 3.9 cents, and a 23% discount to the last traded price of 4.2 cents. The allotment of up to 35 million New Shares will be issued within the Company’s 15% placement capacity under ASX Listing Rule 7.1. The New Shares will rank equally with existing fully paid shares of the Company. As far as the Company is aware, no New Shares were issued or agreed to be issued in The Placement to a related party,
substantial holder in the Company or otherwise to any person referred to in Listing Rule 10.11. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $85.14 | Up |
| Crude Oil (Brent) | USD/bbl | $93.50 | Up |
| Bonny Light | USD/bbl | $92.73 | — |
| Saharan Blend | USD/bbl | $92.82 | — |
| Natural Gas | USD/MMBtu | $5..47 | Up |
| OPEC basket 24/10/22 | USD/bbl | $92.17 | Up |
Just Stop Oil supporters have blocked Horseferry Road and sprayed paint on 55 Tufton Street, headquarters of the Global Warming Policy Foundation and other fossil fuel lobby groups. They are demanding that the government halts all new oil and gas licences and consents. At 11:00am today, 6 Just Stop Oil supporters walked onto Horseferry Road at the junction with Tufton Street and disrupted traffic by sitting in the road with banners. Some supporters glued onto the tarmac, while others locked themselves together. Two supporters have sprayed paint on the outside of 55 Tufton Street. Read More
Aramco announced the launch of a new program, “Taleed”, which aims to accelerate the growth of Small and Medium Enterprises (SMEs) in Saudi Arabia — helping boost their contribution to economic development and support job creation.
The program targets sustainable SME growth across multiple sectors through a portfolio of 20 initiatives, providing a wide range of support from capability building and strategy development to training, market access, advisory services and business planning. It also aims to deliver funding and financial solutions to existing and new businesses through five funds, with a combined capital exceeding SAR 3 billion ($800 million). The funds are being established in collaboration with partners to support SME development in the sustainability, digital, manufacturing, industrial and social innovation domains. Read More
KKR, a leading global investment firm, and Mubadala Investment Company (“Mubadala”), a global sovereign investor, today announced the signing of a Strategic Partnership (the “Partnership”) that will see the two firms co-investing across performing private credit opportunities in the Asia Pacific (“APAC”) region.
The Partnership aims to deploy at least US$1 billion of long-term capital, providing bespoke credit solutions to companies and sponsors. Mubadala will deploy its capital alongside KKR’s existing pools of capital, including the recently raised KKR Asia Credit Opportunities Fund, a US$1.1 billion vehicle focused on performing, privately originated credit investments in the region.
The Partnership represents a key milestone for both organizations, as it strengthens Mubadala’s exposure in the rapidly growing APAC credit market, while enabling KKR to significantly scale its APAC credit platform. The Partnership commences at a time when the region’s growth has fueled an enormous demand for funding solutions, as many companies, sponsors, and entrepreneurs face challenges accessing flexible financing due to limited supply of capital from banks and non-bank lenders. The Partnership between Mubadala and KKR aims to address this shortage of flexible capital while supporting businesses in APAC in achieving their long-term growth ambitions. Read More
Golar LNG Limited – Q3 2022 results presentation
Golar LNG’s 3rd Quarter 2022 results will be released before the NASDAQ opens on Wednesday, November 16, 2022. In connection with this a webcast presentation will be held at 1:00 P.M (London Time) on Wednesday November 16, 2022. Read More
------------------------------------------------------------------------------------------------ OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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