Oil and Gas, Press, Energy News Brief, 13th Nov. 2021

Top representatives of the oil producer group OPEC defended a future role for fossil fuels at the U.N. climate conference on Wednesday, arguing the world can slash greenhouse gas emissions without swearing off oil and gas. 

Electric vehicle (EV) sales are projected to surpass 7 million cars globally in 2021, more than doubling 2020 sales of 3.2 million. Rystad Energy estimates that EVs, including plug-in hybrid electric vehicles (PHEV) and battery electric vehicles (BEV), will account for around one in every 10 new cars purchased, with a global market share of 10.3%, up from 5.3% in 2020. This market share will be a new global record, marking the first time EV sales have accounted for a double-digit share of total vehicle sales, which are projected to be around 69 million in 2021. Rystad Energy anticipates a high adoption scenario of 72% EV share globally by 2030 and close to 100% by 2040, consistent with a 1.6 degree Celsius global warming scenario. Of the 7 million EV sales in 2021, 68% is expected to be BEV sales, with the remaining 32% from PHEVs. Read More

The ‘methane fee’, a part of the amended text of the Build Back Better Act released by the House Rules Committee in the US, could cost the petroleum and natural gas industry $1.3 billion in 2025 under a status quo scenario, a Rystad Energy analysis shows. Although the latest draft bill relaxes some of the previously proposed regulations, the latest iteration will still have a profound economic impact, especially on smaller onshore producers. Even though the proposed bill would go into effect in 2023, the phased introduction – 60% in 2023, 80% in 2024 and 100% in 2025 – means the full effect would not be felt until the middle of the decade. The $1.3 billion estimated cost impact in 2025 assumes producers continue output and methane intensity at 2019-2020 levels on average. Methane intensity is – however – improving quickly. Read More

Commodity PricesUnitsPrice $Change
Crude Oil (WTI)USD/bbl$80.79Up
Crude Oil (Brent)USD/bbl$82.17Up
Bonny LightUSD/bbl$81.76Down
Natural GasUSD/MMBtu$4.79Down
OPEC basket 11/11/21USD/bbl$81.93Down
At press time 13th November 2021

Pertamina Geothermal Energy (PGE) has planned to expand its installed geothermal power plant capacity in order to provide greater contribution to the reduction of greenhouse gas emissions in Indonesia, and support achieving the sustainable development goals (SDGs) on climate action, through implementing Environmental, Social, & Governance (ESG) based programs. Read More

Gazprom and VNG discuss cooperation-related issues. VNG is engaged in natural gas imports, underground storage and consumer supplies in Germany’s eastern federal states and in Berlin. The company is headquartered in Leipzig, Germany. Read More

Storm Resources Ltd. announced that it has entered into a definitive arrangement agreement (the “Arrangement Agreement“) with Canadian Natural Resources Limited (the “Purchaser“) (TSX, NYSE: CNQ) pursuant to which the Purchaser has agreed to acquire all of the issued and outstanding common shares of Storm (“Storm Shares“) for cash consideration of $6.28 per Storm Share (the “Purchase Price“). The proposed transaction (the “Transaction“) is to be completed by way of a plan of arrangement under the Business Corporations Act (Alberta) and is expected to close in December 2021. Read More

Rosneft completed a series of road shows of the Vostok Oil project for foreign suppliers and contractors. As part of the events, the Company held 16 meetings with major work and service suppliers and engineering companies from 15 countries in Europe, Asia, and the Middle East. The meetings were also attended by representatives of embassies, relevant agencies and business associations. In total, more than 760 people from 360 foreign organizations took part in the series of Vostok Oil roadshows. As a result of the meetings, the Company received about 60 cooperation proposals. Read More

On November 10, 2021, Rosneft completed dividend payments for H1 2021 approved at the Extraordinary General Shareholder Meeting (EGM) of the Company on September 30, 2021. Total dividend payment amounted to 191,042.72 million rubles. The dividends were paid to holders of 99.98% of Rosneft shares. At the same time, the dividends were transferred to the shareholders listed on the share register before the deadline set by the decision of Rosneft Extraordinary General Meeting of Shareholders. Read More

Financial results for 3Q and 9M 2021

Siemens Mobility and RazorSecure have signed a cooperation agreement to provide Rolling Stock operators worldwide with enhanced rail cybersecurity monitoring solutions. Increasing digitalization brings benefits, but also the need for adequate protection against cyber-attacks. The two companies will therefore pool their know-how to secure complex transport systems: RazorSecure is a specialist in providing rail cybersecurity solutions and continuously monitors the behavior of individual systems and traffic across the full network in real-time. Siemens Mobility is committed to guaranteeing availability of rail systems with its smart digital asset management systems such as Railigent. Read More

Repsol will invest €42.5 million in the installation of 610 electric recharging points at its service stations in Spain and Portugal. This project is part of the multi-energy company’s goal of reaching 1,000 public re-charging points by the end of 2022, one every 50 kilometers along the main road corridors of the Iberian Peninsula, and it is a further step forward on the company’s path toward carbon neutral by 2050. The Spanish Official Credit Institute (ICO) has participated in two financing operations related to this Repsol project for a total amount of €40.7 million to support the installation of 610 fast and ultra-fast re-charging points in the network of service stations that the multi-energy company has in the Iberian Penin-sula. The 610 electric recharging points (18 ultra-fast and 592 fast) will be installed before the end of 2023 and will be located at 577 Repsol service stations in Spain and 33 in Portugal, along the Mediterranean and Atlantic corridors. The installed capacity of the fast and ultra-fast recharging points will be 50 kW and 180 kW, respectively. All Repsol’s electric recharging points are guaranteed to provide 100% renewable en-ergy. Read More


Vueling, an airline of IAG group, completed the airline’s first flight using sustainable fuel, on the Barcelona-Seville route. Repsol, a pioneer in the manufacture of these kind of fuels in Spain, has supplied the SAF (Sustainable Aviation Fuels) used in the flight, produced at its Tarragona Industrial Complex using biomass. The company has also produced a similar batch at the refinery in Puertollano and another one, from waste, at the Petronor refinery, a Repsol Group facility located in Bilbao. This low carbon footprint flight from Barcelona to Seville has avoided the emission of 2.5 tons of CO2, thanks to the efficiency provided by the new generation Airbus A320neo, the use of biofuel and the efficiency procedures implemented. Vueling has the third most modern fleet in Europe, as of 2019. with its new A320neo. Read More

Gasoline prices in the United States have continued to climb as stockpiles of the fuel continue to dwindle. Gasoline inventories in the United States fell 1.6 million barrels this week, according to EIA data, to 212.7 million barrels, which is 4% below the five-year average.

Soaring gasoline prices have put immense pressure on the Biden Administration, who have promised to make high prices a priority. One of the tools that the White House may consider to alleviate rising crude oil and gasoline costs is a release from the nation’s Strategic Petroleum Reserve. Industry analysts, however, have suggested that releasing millions of barrels from the SPR would do little to bring down the price of gasoline at the pump. Read More

Gazprom has approved and launched a plan to pump gas into five European underground storage facilities for November, the holding said. Gazprom has approved and launched a plan to pump gas into five European underground storage facilities for November. The volumes and routes of gas transportation have been determined, ”it was reported. Russian President Vladimir Putin instructed Gazprom to increase supplies to the company’s storage facilities in Europe after the completion of pumping gas into underground storage facilities in Russia on November 8. The head of Gazprom, Alexei Miller, assured that the gas holding will fulfill this order. Read More

Nissan today announced that the Nissan Pavilion, an interactive entertainment facility that was open from August 1 to October 23, 2020 here, won the Bronze Prize of the Japan Kukan Design Awards in the “Exhibition and Promotion Space” category. The Pavilion was designed to showcase Nissan’s initiatives to move people to a better world. It served as a space where visitors could see, feel, and be inspired by Nissan’s near-future vision for society and mobility. The venue was used for the global unveil of the all-new, all-electric Nissan Ariya crossover and the reinvented new Nissan logo. Read More

Angola, Africa’s second-largest crude oil producer, is concluding a licensing round of eight offshore blocks and plans to launch two more rounds in 2023 and 2025 in a bid to turn around recent declines in production, officials from the country’s energy regulator, Read More

Oil and Gas News Straight from the Source

OilandGasPress Energy Newsbites and Analysis Roundup |Compiled by: OGP Staff, Segun Cole. Please send us your industry related news for publication

Announce new products, New Partnerships, New director appointment, New office, financial reports, New sales staff, new contracts, charity affiliations and general news and offers by your organisation! Submit your Releases or contact us now!

Oil and gas, press, Energy, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar, Marine, Aviation, Fuel, Hydrogen, Electric ,EV, Gas,

Disclaimer: News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Should you wish to provide a different perspective on the above article, please email us info@OilAndGasPress.com