Oilandgaspress Energy/Automotive News: to 21/05/24

London, 21 May 2024, (Oilandgaspress): – Oil prices reportedly extended gains on Monday, inching up amid political uncertainty at major producing countries after Iran president’s death in a helicopter crash and Saudi Arabia cancelling planned trip to Japan, citing health issues with the king’s health.

Chief Executive Officer (CEO) of TotalEnergies, Patrick Pouyanne, has explained why they will be investing $6 billion in energy projects in Angola instead of Nigeria. Explaining why they took the decision, Pouyanne who spoke with panellists of the Africa CEO in Kigali, Rwanda, said the inconsistency in policy making decisions led to the diversion of the project from Nigeria to Angola, a country with a more stable policy framework.He said; “Nigeria loves to open topics without closing them. You love to debate. There is always a new legislature in Nigeria about a new petroleum law. When you have such permanent debates, it’s difficult for investors looking for long-term structure to know what direction to go. “In reality, the Niger Delta is the most prolific part of West Africa. But if you look at what happened, because of these debates, there has not been a single exploration in Nigeria for 12 years.“We have countries that have perfectly integrated policies like Angola. So, we go to Angola and announced a very large $6 billion projects in the beginning of the week because there their framework is stable. So we know where we go.”

Vestas has signed a conditional agreement for the supply of turbines for a large-scale offshore wind power project with two construction phases in Northern Europe with a combined capacity above Vestas’ current disclosure threshold of 1 GW.

If and when the agreement translates into firm and unconditional orders, Vestas will disclose these in accordance with the company’s disclosure policy.. Read More

Nissan Formula E Team is ready to tackle the Shanghai International Circuit for the first time this weekend in Rounds 11 and 12 of the 2023/24 ABB FIA Formula E World Championship, as Season 10 approaches the final six rounds of the campaign.

Last time out in Berlin, Oliver Rowland delivered a pair of stunning drives from P15 and P16 on the grid on Saturday and Sunday respectively to secure two podiums, taking his personal tally up to six for the season. The Brit currently sits third in the World Championship standings heading to China for another double-header.

Teammate Sacha Fenestraz has also been performing strongly in recent events, showing positive pace and scoring points in four of the last five races.

China hosted the first ever E-Prix around the Bird’s Nest Olympic Stadium in Beijing back in 2015, with the series’ last visit to the Land of the Red Dragon five years ago in Sanya. Rowland took pole position for the team on that occasion and second place in the race, his first-ever Formula E podium.

Best known as host of the Chinese Grand Prix, this weekend’s venue incorporates modifications to the full layout to make it suitable for Formula E machinery. The track features 12 corners, including the technical looping first turn that gradually tightens as it enters the tricky rolling complex of Turns 2 to 4. The heavy braking zones leading into Turns 6 and 10 are likely to offer the best overtaking opportunities across the two races.

Track action gets underway with FP1 on Friday, while qualifying starts at 10:20 (UTC+8) and the E-Prix at 15:00 (UTC+8) on both Saturday and Sunday. Read More

(Reuters) – The U.S. auto safety regulator said on Monday it has opened a recall query into an estimated 51,500 Volkswagen America’s EVs over concerns of the vehicle door opening while driving. The U.S National Highway Traffic Safety Administration (NHTSA) said it received 12 complaints over Volkswagen’s electric ID.4 SUVs built between 2021 and 2023. Some consumers reported that the vehicle’s door intermittently opens while driving with no reasonable detectability, though no injuries or fatalities have been connected to this issue. Read More

A pilot project at the Lafarge Brookfield Cement Plant in Nova Scotia, in partnership with Geocycle Canada, has been completed, producing high-quality clinker made of recycled minerals recovered from waste sources. The process can potentially reduce CO2 levels by 60 percent per ton of clinker. Clinker is the main ingredient in cement, which, in turn, is the active ingredient in concrete. More concrete is sold than all other building materials combined each year globally. This is the first-ever pilot focused on clinker production from recycled minerals in North America, and the second one in the world across the Holcim Group.. Read More

The Lokotrack EC crushing equipment range from Metso uses diesel-electric power, with all process functions powered electrically to reduce the use of hydraulic oil needed in crushing operations.

Two machines in the Lokotrack EC range have been introduced. The LT400J is a 68-ton mobile jaw crusher designed for primary crushing of hard rock and recycled aggregates. The LT350C is a 50-ton mobile cone crusher for secondary and tertiary crushing. The LT400J is equipped with the Nordberg C120 jaw crusher, while the LT350C features the new HP350E cone crusher.

Both machines can be combined with one another, as well as Lokotrack mobile screens, to produce high-quality aggregates. Read More

Saipem prepares the launch of new notes and launch two tender offers relating two bonds expiring in 2025 and 2026. Saipem S.p.A. (“Saipem”) together with its subsidiary Saipem Finance International B.V. (“Saipem Finance”, the “Issuer” or the “Offeror”) hereby announce that they have mandated BNP Paribas, HSBC Continental Europe, Intesa Sanpaolo S.p.A. and UniCredit Bank GmbH, as Joint Bookrunners to arrange, starting from the date hereof, a series of calls with fixed income investors aimed at evaluating the potential launch by Saipem Finance of new non-convertible and unsubordinated notes (the “New Notes”).

Moreover, in the context of the potential transaction, Saipem and Saipem Finance hereby announce the launch by Saipem Finance of two tender offers of two bonds issued by Saipem Finance for a total maximum amount of Euro 380,000,000 (the “Offers”). Read More

Excellent craftsmanship and skilful handling of high-quality materials – this is what bespoke tailoring and historic automobiles have in common. The “Concours on Savile Row” on 22 and 23 May 2024 in London, UK, brings the two together and rolls out the red carpet: it presents noble vehicles in combination with the famous tailoring of Savile Row. Visitors can stroll and enjoy a unique ambience. Mercedes-Benz Classic is taking part in this prestigious event at Henry Poole & Co and is showing a Mercedes 75 hp Spider from 1907 – a highly exclusive sporty vehicle. Also on display are an authentic replica of the first ever motorbike – the Daimler Reitwagen (“Riding Car”) from 1885 as well as exhibits around the legendary Mercedes-Benz 300 SL (W 198). Mercedes-Benz also presents the S 680 GUARD 4MATIC with integrated protection concept and MANUFAKTUR elements, an exclusive equipment programme for individual customer wishes. Read More

Ferrari N.V. informs that the Company has purchased, under the Euro 350 million share buyback program announced on November 7, 2023, as the fourth tranche of the multi-year share buyback program of approximately Euro 2 billion expected to be executed by 2026 in line with the disclosure made during the 2022 Capital Markets Day (the “Fourth Tranche”), the additional common shares – reported in aggregate form, on a daily basis – on the Euronext Milan (EXM) and on the New York Stock Exchange (NYSE) as follows:. Read full article

Ferrari N.V. announces the pricing of a Euro 500 million issue of notes due in May 2030 (the “Notes”), being well over two times oversubscribed. The issue price of the Notes is equal to 99.677% of their principal amount and the Notes have a fixed annual coupon of 3.625%. The proceeds of the issue will be used for general corporate purposes.

Banco Santander S.A., BNP Paribas, Citigroup Global Markets Europe AG, Crédit Agricole Corporate & Investment Bank, J.P. Morgan SE, Mediobanca – Banca di Credito Finanziario S.p.A., and UniCredit Bank GmbH acted as Joint Lead Managers to the issue of the Notes.

Application has been made for the Notes to be admitted to the Official List of Euronext Dublin and to trading on the regulated market of Euronext Dublin. Settlement and issue of the Notes are expected to occur on 21 May 2024. Read full article

Nissan Formula E Team is ready to tackle the Shanghai International Circuit for the first time this weekend in Rounds 11 and 12 of the 2023/24 ABB FIA Formula E World Championship, as Season 10 approaches the final six rounds of the campaign.

Last time out in Berlin, Oliver Rowland delivered a pair of stunning drives from P15 and P16 on the grid on Saturday and Sunday respectively to secure two podiums, taking his personal tally up to six for the season. The Brit currently sits third in the World Championship standings heading to China for another double-header.

Teammate Sacha Fenestraz has also been performing strongly in recent events, showing positive pace and scoring points in four of the last five races.

China hosted the first ever E-Prix around the Bird’s Nest Olympic Stadium in Beijing back in 2015, with the series’ last visit to the Land of the Red Dragon five years ago in Sanya. Rowland took pole position for the team on that occasion and second place in the race, his first-ever Formula E podium. Read full article

Last weekend’s Goodwoof once again welcomed dog enthusiasts to the Duke of Richmond’s Goodwood estate for a grand celebration of all things canine. With pups of all shapes and sizes in attendance, the event featured various activities, including the Breed Meets where Bentley led hundreds of dogs around the 1km track.

Bentley also unveiled a one-of-a-kind pawsh photobooth designed in collaboration with luxury pet outfitter, Mungo & Maud. Featuring delightful canine-inspired motifs, the playful graphic design was created by the team Mungo & Maud in its signature colourways. The rear of the car was also fitted out in Mungo & Maud accessories, so su-paw model pooches could sparkle in the Bentayga. With dogs fur-ociously hoping to collar the crown with their tail-wagging charm and fetching poses, over 6,000 photos were snapped over the weekend with funds raised for Jai Dog Rescue – Goodwoof’s charity sponsor for 2024.

Another highlight was the return of the Bentayga Sheepherding, which rounded up lambs, ewes and rams during one of the festival’s most popular activities.

Bentley’s Chief Communications and D&I Officer, Wayne Bruce, said “It was a great weekend on the Goodwood lawn. Hundreds of four-legged friends collected their pawprints on the Breed Meets, guided by Bentley. Let’s not forget the pawsh photobooth where 6,000 photos were snapped in aid of Jai Dog Rescue. Thank you to everyone who came, and to my team!” Read More

Automobili Lamborghini debuts the Urus SE for the first time in Germany. Stephan Winkelmann, Chairman and CEO of Automobili Lamborghini, Rouven Mohr, Chief Technical Officer, and Mitja Borkert, Director of Design, presented the first PHEV super SUV to Lamborghini customers and media at an exclusive event at the Kesselhaus Kolbermoor.

In line with the new 800 CV hybrid powertrain, the Urus SE features revised aerodynamics and a new design, as well as brand-new technological solutions. In terms of comfort, performance, efficiency, emissions and driving pleasure, it surpasses the Urus S thanks to its two hearts: with the combination of combustion engine and electric motor, it achieves sensational torque and performance values that give it a unique position in its segment and, at the same time, enable an 80 per cent reduction in emissions.

“We are delighted to present the most powerful Super SUV on the market to our customers in this impressive atmosphere,” says Stephan Winkelmann. “Thanks to electrification, the Urus SE achieves an impressive level of performance and takes Lamborghini further towards the sustainability goals set out in Direzione Cor Tauri for the future of our company. With the premiere in Germany, just a few weeks after the world premiere at Auto China in Beijing, we can present our most successful model to customers in one of our most important markets in a worthy setting.”. Read More

Volkswagen Group of America is unified by a shared mission and commitment to putting our expertise, innovation and vision to work for the greater good: thus, the company is proud to announce the expansion of The Driving Force internship program to the Volkswagen brand at Morgan State University in Baltimore, Maryland.

This unique internship program was first formulated in 2020 by the Black Automotive Media Group (BAMG) to expose students at Historically Black Colleges and Universities (HBCUs) to career opportunities within the automobile industry. Dubbed The Driving Force (TDF), the 10-week internship is comprised of training and mentoring sessions that educate students on career opportunities within the automotive industry, including marketing, multimedia, PR, content creation and publishing. The liaisons between Volkswagen and BAMG are Vicki Miles, Diversity and Inclusion Senior Consultant, and Kendra Patterson, Fleet Ordering & Delivery Senior Specialist and president of the African and African American Employee Resource Group.

This is the first year Volkswagen Brand has sponsored the program, introducing it to students at Morgan State University in Baltimore, Maryland. The inaugural class at Morgan State included 18 students, more than 70 percent of whom were female. Under the Audi brand, Volkswagen Group has offered a TDF program at North Carolina Agricultural and Technical State University since 2020.

“Diversity matters. It matters for the health of a community and it matters in business because it has been proven time and again to contribute to the success of organizations,” said Andrew Savvas, Chief Sales & Marketing Officer, Volkswagen North American Region. “Business can play a significant role in helping promote diversity and developing diverse leaders who future generations can relate and aspire to.” Read More

Developing automated or connected driving functions is a major challenge. In JUPITER test vehicles from Porsche Engineering, the Robot Operating System (ROS) speeds up development of new and innovative functions so that they can be experienced sooner.Since 2007, researchers around the world have been working on advancing the Robot Operating System (ROS)—initially at the Stanford Artificial Intelligence Laboratory, and now as part of the Open Source Robotics Foundation (OSRF). Even if the name suggests otherwise, ROS is, strictly speaking, not a standalone operating system, and instead builds on systems such as Linux or Windows to act as a mediation layer between hardware and software. Among other components, ROS provides a wide range of device drivers, which means that new sensors and actuators can be easily integrated into existing systems. In addition, ROS sees itself as a “software toolbox” for research and for application-driven automation. Read More

THREE60 Energy announced that it has secured a second multi-million-pound contract with Sumitomo Electric Industries (SEI), for the supply of cable handling equipment for SEI’s new power cable factory in Nigg, Scotland.

This is the second multi-million-pound order that THREE60 has received from SEI this year, having previously been awarded a contract to supply cable storage carousels. Together the components delivered across both scopes will see the realisation of SEI’s subsea cable handling capability at their state-of-the-art power cable factory.

Drawing on over five decades of engineering expertise in Glasgow, the team have worked in collaboration with SEI, providing guidance and support during the development of the factory layout to map out the journey of the power cables from manufacture through to delivery. In doing this, THREE60 have designed a cable transportation system which maximises all available space to increase the site’s cable storage capacity. The full scope of supply includes gantry crane systems, cable tensioners and both indoor and outdoor cable path lines. Read More

THREE60 Energy, a leading provider of renewable energy solutions including grid connection and operations & maintenance services, proudly announces the successful award of a three-year contract with the European Marine Energy Centre (EMEC).

This contract marks a significant milestone in advancing sustainable energy solutions in Scotland and underscores THREE60’s commitment to driving innovation in the renewable energy sector.

THREE60 will collaborate closely with EMEC, delivering electrical services to support the demonstration of cutting-edge renewable energy projects. Leveraging its expertise in electrical engineering in both renewable energy technologies and project management, THREE60 will support EMEC in its mission to accelerate the deployment of marine energy technologies, including wave and tidal energy, in the European market.. Read More

ADNOC announced the acquisition of a 11.7% stake in Phase 1 (Trains 1-3) of NextDecade Corporation’s (NextDecade) (Nasdaq: NEXT) Rio Grande LNG (RGLNG), a leading liquefied natural gas (LNG) export project located in Texas, United States (US), which is expected to produce a less carbon-intensive LNG. Additionally, ADNOC and NextDecade announced that they have entered into a 20-year LNG offtake agreement from RGLNG Train 4.

The Phase 1 RGLNG equity stake has been acquired through an investment vehicle of Global Infrastructure Partners (GIP), one of the world’s premier infrastructure investors. ADNOC acquired a portion of GIP’s existing equity interest in Phase 1 while NextDecade retains its previously announced expected economic interest in Phase 1 as well as its interests in the Train 4 and Train 5 expansion capacity.

The Phase 1 acquisition marks ADNOC’s first strategic investment in the US as it continues to deliver on its international growth strategy and complements its efforts to expand its lower-carbon LNG portfolio to meet growing gas demand.

The 20-year LNG offtake agreement between ADNOC and NextDecade is for 1.9 million tons per annum (mtpa) from RGLNG Train 4, on a free on board (FOB) basis at a price indexed to Henry Hub, subject to a Final Investment Decision (FID). Read more

Galileo, the pan-European renewable energy development and investment platform, today announced the signing of a Corporate Power Purchase Agreement (CPPA) with Cargill, the largest private company in the US by revenue.

This agreement exemplifies Galileo’s strategy of prioritising the commercialisation of renewable energy to industrial partners, providing flexible and attractive solutions in an increasing number of European markets to customer that are leaders in their industry.. Read More

Serica Energy plc (AIM: SQZ), a British independent upstream oil and gas company, announces that it has received final approval from the NSTA to develop the 100% owned and operated Belinda field. The field will be tied back to the Triton FPSO following the drilling of the development well which is scheduled to take place in the first half of 2025. The Belinda well is the 5th well in Serica’s Triton area drilling campaign, which commenced in April this year using the COSLInnovator drilling rig. All these wells are designed to enhance production via the Triton FPSO. Proven and probable reserves in the Belinda field are estimated at about 5 million barrels of oil equivalent (80% oil). Production is scheduled to commence in 1Q2026 following the tie-back work to the Triton FPSO. Read More

On 17 April 2024 Capricorn announced details of a proposed special dividend of 43 pence per Existing Ordinary Share, amounting to a return of approximately US$50m to shareholders and a consolidation of Capricorn’s ordinary share capital.

The consolidation ratio for the Share Consolidation will be 62 New Ordinary Shares for every 79 Existing Ordinary Shares held at the Record Time. The nominal value of the New Ordinary Shares will be 799/122 pence per New Ordinary Share. The Share Consolidation will reduce the number of Capricorn’s issued ordinary shares by an amount that reflects the value of the 2024 Return of Cash to shareholders relative to the market capitalisation of Capricorn prior to the 2024 Return of Cash. The aim of this is to ensure, so far as possible, the market price of an ordinary share remains approximately the same before and after the proposed 2024 Return of Cash and to maintain comparability of historical and future per share data. The Share Consolidation will reduce the number of ordinary shares in Capricorn which shareholders own, but not the proportion (subject to allowance for fractional entitlements). Read More

Oil and Gas BlendsUnitsOil Price US$/bblChange
Crude Oil (WTI)USD/bbl$78.73Down
Crude Oil (Brent)USD/bbl$82.66Down
Bonny LightUSD/bbl$83.31Down
Saharan BlendUSD/bbl$82.46Down
Natural GasUSD/MMBtu$2.76Up
Murban CrudeUSD/bbl$84.22Down
OPEC basket 20/05/24USD/bbl$84.51Up
At press time 21 April 2024

Free-standing ultrathin silicon wafers and solar cells through edges reinforcement. Photovoltaics plays a leading role in achieving the goal of a low-carbon-emission society. Nowadays, crystalline silicon (c-Si) solar cell dominates the photovoltaic (PV) market, with a market share of over 95% owing to their high module efficiencies, long lifespan of more than 25 years as well as high abundance of silicon. Among them, there is a huge market potential for lightweight and flexible thin c-Si solar cells since they can be integrated with buildings, remote power applications such as electric vehicles and aircrafts and wearable electronic devices3. However, they are not yet widely used due to the mechanically brittle nature of c-Si and the dramatically increasing trend in breakage rate during cell processing as the thickness of the wafer decreases.

For the above reason, there is a trade-off between thickness and area for thin silicon solar cells. It is very challenging to prepare thin c-Si solar cells with large areas to a very thin thickness. In this contribution, we present a thin silicon with reinforced ring (TSRR) structure at the edge region, which can be used to prepare ultrathin silicon wafers with a large area and provide support throughout the solar cell preparation process to reduce the breakage rate. Then with the help of COMSOL Multiphysics, we investigated the mechanical properties of TSRR structure and the conventional all-thin silicon (ATS) structure, and the simulation results showed that the reinforced ring of TSRR structure can distribute a large amount of stress when subjected to external forces, thus making the central thin silicon region of TSRR structure bear a smaller force compared to ATS structure. Read full article

Baker Hughes Rig Count: : U.S. +1 to 604 Canada -2 to 114
U.S. Rig Count is up 1 from last week to 604 with oil rigs up 1 to 497, gas rigs unchanged at 103 and miscellaneous rigs unchanged at 4.
Canada Rig Count is down 2 from last week to 114, with oil rigs down 3 to 57, and gas rigs up 1 to 57.

International Rig Count is up 7 rigs from last month to 978 with land rigs up 7 to 743, offshore rigs unchanged at 235

The Worldwide Rig Count for April was 1,726, down 67 from the 1,793 counted in March 2024, and down 82,from the 1,808 counted in April 2023.


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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.

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