Oil and gas press monitor. OPEC daily basket price at US$82.82/bl, 01 Feb. 2023
The 47th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Wednesday, 01 February 2023.
The Committee reviewed the crude oil production data for the months of November and December 2022 and noted the overall conformity for participating OPEC and non-OPEC countries of the Declaration of Cooperation (DoC). The Members of the JMMC reaffirmed their commitment to the DoC which extends to the end of 2023 as agreed in the 33rd OPEC and non-OPEC Ministerial Meeting (ONOMM) on 5th of October 2022, and urged all participating countries to achieve full conformity and adhere to the compensation mechanism. The Committee thanked the OPEC Secretariat for their contribution to the meeting.
The next meeting of the JMMC (48th) is scheduled for 3 April 2023. Read More
Neste will publish its fourth quarter and full-year 2022 results on Wednesday, 8 February 2023 at approximately 9 a.m. (EET). The release will be available on the Neste website immediately after publishing. A conference call in English for investors and analysts will be held on Wednesday, 8 February 2023, at 3 p.m. Finland / 1 p.m. London / 8 a.m. New York. Read More
Horisont Energi announced Fertiberia as a new partner to join the Barents Blue project. The previous partners Equinor and Vår Energi leave the project as the cooperation agreement expired on 31 January. The Barents Blue concept is to make ammonia from natural gas from the Barents Sea, capture the CO2 and store it under the seabed.
The Polaris CO2 storage under the Barents Sea was selected as the CO2 storage solution for the Barents Blue project, and it has had the same partners as for the Barents Blue project. Consequently, Equinor has also concluded to not take further part in the Polaris CO2 storage project. Read More
Odfjell SE will release its fourth quarter 2022 results on Wednesday, February 8, 2023, at 20:00 CET. The results will be published on Oslo Stock Exchange at newsweb.no and at Odfjell.com. The following day, the company will present the results in a live webcast at 09:00 CET, followed by a Q&A. Read More
Africa Oil Corp. reports the following share capital and voting rights update in accordance with the Swedish Financial Instruments Trading Act.
As a result of the cancellation of shares repurchased by Africa Oil under the Company’s previously announced share repurchase program, Africa Oil now has 461,455,580 common shares issued and outstanding with voting rights as at January 31, 2023. Read More
Equinor’s 2022 safety results.At the end of fourth quarter 2022 the serious incident frequency per million hours worked (SIF) was 0.4.
The number of serious incidents remains at the lowest level so far for Equinor.The results have been achieved through a step change in maintenance process capabilities. Reducing safety critical backlog is important in the work to prevent major accidents.The injury trend is not improving. The total recordable injury frequency per million hours worked, TRIF, is 2.5 for 2022, up from 2.4 in 2021. Read More
China’s oil and gas demand declined in 2022 as the strict Covid policies curtailed economic growth and mobility. This year, demand is set to rebound thanks to the reopening of the Chinese economy, pushing global oil demand higher and giving Europe a run for its money to stock up on LNG. The pace of recovery in Chinese oil and gas demand will be one of the most important trends influencing oil and gas markets and prices in 2023. Read More
Oceaneering and Kontiki Winds Sign Agreement
Oceaneering International, Inc. announces that its Norwegian subsidiary, Oceaneering AS, has signed a Memorandum of Understanding (MoU) with Kontiki Winds AS (a Havfram AS company) to jointly pursue the application of floating offshore wind for remote microgrid renewable power generation to electrify offshore assets such as oil and gas production as well as other small scale power generation opportunities among island states currently producing electricity by fossil fuel.
The MoU, signed in Stavanger, Norway, covers collaboration between the two companies with a particular focus on the Gulf of Mexico, Brazil, and Northern Europe.
Both companies recognize there is an increasing requirement on oil and gas producers and remote island states to electrify their operations, with limited available options. Through this MoU, Oceaneering and Kontiki Winds will provide a comprehensive and cost competitive approach to electrification, using offshore wind, to realize microgrid electrification. Read More
The global oil and gas exploration sector had its strongest year in 2022 in more than a decade. In its work to improve portfolios by adding lower-carbon, lower-cost advantaged hydrocarbons, the sector created at least $US33 billion of value and achieved full-cycle returns of 22%, at US$60/barrel Brent prices, according to a recent report from Wood Mackenzie, a Verisk business. Wood Mackenzie’s ‘Oil and gas exploration: 2022 in review’ report states that exploration well numbers were less than half the numbers during pre-pandemic years, yet the total volume of 20 billion barrels of oil equivalent matched the average annual volumes of 2013 – 2019. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $76.51 | Down |
| Crude Oil (Brent) | USD/bbl | $82.80 | Down |
| Bonny Light | USD/bbl | $84.43 | Down |
| Saharan Blend | USD/bbl | $84.47 | Down |
| Natural Gas | USD/MMBtu | $2.50 | Down |
| OPEC basket 01/02/23 | USD/bbl | $82.82 | Up |
Trina Solar published the Trina Solar 210mm Vertex N Product White Paper in January. The newly upgraded Vertex n-type modules of 605W+695W with efficiency up to 22.4% are setting the standard for power station modules in every respect, stepping up the industry’s acceleration into the n-type era. Trina Solar is committed to building the 210mm product technology platform with a high degree of compatibility. The white paper serves as a guide for the solar industry in each phase: choosing a technical route, developing product parameters, empirical testing, mass production and delivery. Read More
The European Commission’s announcement that the EU is proposing a US$100 per barrel price cap on Russian oil products such as diesel, jet fuel and gasoline, and a US$45 per barrel cap on discounted products like fuel oil, would not severely impact Russian refiners according to Wood Mackenzie.
Speaking at Wood Mackenzie’s London office on 31 January, Mark Williams, Research Director of Short-Term Refining & Oil Products said that the oil products price cap, which is due to come into force on 5 February, would have minimal impact on Russian refining crude runs and distillate exports. Read More
KBR announced that it has been named to Fortune magazine’s list of the World’s Most Admired Companies for the second straight year.
“I am delighted and honored that KBR has once again earned international recognition from our industry peers as one of the World’s Most Admired Companies,” said Stuart Bradie, KBR president and CEO. “This distinction belongs to our people, who live our culture and values every day and who are committed to our mission of working together to deliver differentiated, sustainable solutions for our customers.” KBR is one of more than 1,500 international candidate organizations selected for consideration by Fortune and partner Korn Ferry. The cohort includes the 1,000 largest U.S. companies ranked by revenue and non-U.S. companies in Fortune’s Global 500 database with revenues of $10 billion or more. The cohort was reviewed and narrowed down to the companies with the highest revenues in 52 industries — a total of 640 companies from 28 nations. Top-rated companies were then selected from that pool of 640. Read More
GM executives said Tuesday they don’t expect significant production increases of the new EVs until the second half of this year – making the Hummer a nearly two-year ramp-up and causing production of the new Cadillac Lyriq to be painfully slow at a plant in Tennessee.
The problem? Cell production at GM’s new or under-construction U.S. plants, according to executives. Read More
General Motors Co. announced today that its Board of Directors has declared a first quarter 2023 cash dividend on the company’s outstanding common stock of $0.09 per share payable Thursday, March 16, 2023, to all common shareholders of record as of the close of trading on Friday, March 3, 2023. Read More
Generac Power Systems, Inc., announced the introduction of its first electric vehicle charging system. The Generac EV charger offers electric vehicle owners a reliable and easy-to-install home charger from one of the most respected names in residential power. The 48A / 11.5kW Generac EV charger is a Level 2 home charger capable of charging a car battery in as little as four to six hours, depending on the car battery’s capacity and charge need. The unit’s J1772 connector is out-of-the-box compatible with nearly all EVs on the market today, and a NEMA-4 enclosure makes the unit rated for both indoor and outdoor residential installation. “We’ve seen an unprecedented rise in demand for electric vehicles in the United States,” said Joshua Brister, director of product management at Generac. “We’re excited to help satisfy this high demand by adding the Generac EV charger to our network of energy technology products.” The Generac EV charger will be available through Generac’s omni channel sales outlets including leading home improvement retailers, wholesalers, and hardware stores Read More
DNO ASA reported that it has passed the five percent threshold for disclosure of large shareholdings following own share purchases as part of the Company’s ongoing share buyback program. Further information regarding the program appears in the Company’s stock exchange notification of 8 December 2022 and subsequent weekly notifications providing details of transactions under the program. As of 2 February 2023, the Company holds a total of 52,719,531 own shares, corresponding to 5.00 percent of its share capital. Read More
Orrön Energy AB will publish its financial report for the fourth quarter and full year 2022 on Wednesday 15 February 2023 at 07:30 CET, followed by a Capital Markets Day presentation at 14:00 CET. Listen to Daniel Fitzgerald, CEO and Espen Hennie, CFO commenting on the report and presenting the latest developments in Orrön Energy and its future growth strategy, together with members of Orrön Energy’s management team, at a webcast held on 15 February 2023 at 14:00 CET. The presentation will be followed by a question-and-answer session. Read More
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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.
Information posted is accurate at the time of posting, but may be superseded by subsequent press releases
Please email us your industry related news for publication info@OilAndGasPress.com
Follow us: @OilAndGasPress on Twitter |
Oil and gas press covers, Energy Monitor, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar, Marine, Aviation, Fuel, Hydrogen, Electric ,EV, Gas, energy monitors,TotalEnergies, Shell, BP, Chevron
