Oilandgaspress Energy Monitor. OPEC daily basket price at US$84.62/bl, 18 Jan. 2023
The Board of VH Global Sustainable Energy Opportunities plc (the “Company” or “GSEO”) is delighted to announce, following an external search process, that Daniella Carneiro has been appointed as an independent non-executive Director of the Company with effect from 18 January 2023. Shareholders will be asked to approve her appointment at the next Annual General Meeting of the Company in April 2023.
Daniella has over 30 years of global experience in project development, governance, strategy, tax and M&A with major companies including KPMG and Shell. She brings a depth of experience in key target markets and a direct understanding of the local impact of the Company’s investments. Her experience will help strengthen the Board’s ability to ensure investments are aligned with the global transition to net zero.
Throughout her professional life, she has worked in Brazil, US, Abu Dhabi, The Hague, and London, where she now resides. Daniella’s present activities are directed towards promoting the global energy transition and she is a specialist business advisor to the Department for International Trade (DIT).
A dual British and Brazilian national, Daniella is a non-executive director and Chair of the Energy & Decarbonisation Committee of the Brazilian Chamber of Commerce in Great Britain. She is also Chair of the UK Trade Wing of the G100, whose mission is to promote actionable thought leadership with multi-lateral organisations in support of the United Nations Sustainable Development Goal #5, Gender Equality. Read More
Hallvard Norum has been appointed Head of Media and Channels at Aker Solutions. Norum comes from a position as climate and economics journalist at the Norwegian Broadcasting Company (NRK). “It will be exciting to work in a company that is so close to some of the biggest challenges of our time, namely energy security and the energy transition. Aker Solutions is innovative and skilled, and I am looking forward to getting to know my new colleagues better,” says Norum.
As Head of Media and Channels, Hallvard Norum (45) will work with communications through Aker Solutions’ official channels, press work and internal communication. He will report to Senior Vice President Communications Kari Ertresvåg. Read More
Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) will publish its fourth quarter results for the period ended 31 December 2022 on 2 March 2023 at 08:00 CET.
From 08:00 CET the results announcement and presentation will be available Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $78.67 | Down |
| Crude Oil (Brent) | USD/bbl | $84.28 | Down |
| Bonny Light | USD/bbl | $87.78 | Up |
| Saharan Blend | USD/bbl | $87.57 | Up |
| Natural Gas | USD/MMBtu | $3.27 | Down |
| OPEC basket 18/01/23 | USD/bbl | $84.62 | Up |
The Brand Finance Global 500 put Saudi Aramco’s value at $43.6 billion, up by 4% on last year, ranking it the 29th most valuable brand in the world. ADNOC was valued at $14.1 billion, and ranked 138th. Amazon has retaken top spot as the world’s most valuable brand despite its brand value falling 15% this year from US$350.3 billion to US$299.3 billion, according to a new report from leading brand valuation consultancy, Brand Finance. Apple (brand value down 16% to US$297.5 billion) has fallen to be the world’s second most valuable brand with its brand value falling from US$355.1 billion. Electric car manufacturers Tesla (brand value up 44% to US$66.2 billion) and BYD (brand value up 57% to US$10.1 billion) as demand grows for electric cars as part of a broader transition to a low carbon economy. Read More
Baker Hughes Rig Count
U.S. Rig Count is up 3 from last week to 775 with oil rigs up 5 to 623, gas rigs down 2 to 150 and miscellaneous rigs unchanged at 2.
Canada Rig Count is up 38 from last week to 227, with oil rigs up 28 to 141, gas rigs up 10 to 86.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 13 January 2023 | 775 | +3 |
| Canada | 13 January 2023 | 227 | +38 |
| International | December 2022 | 900 | -10 |
ACWA Power has finalised a partnership agreement with VERBUND, Austria’s leading electricity company, to jointly explore the potential development of green hydrogen projects in the Middle East region to produce hydrogen to be used by Verbund as a renewable energy source to Central Europe with a primary focus on Austria.
Given its positive environmental implications and capabilities to decarbonise entire industrial sectors, energy sector players around the globe are embarking on ambitious green hydrogen projects that will harness their full potential in the decades ahead. To firmly establish the co-operation between ACWA Power and VERBUND, both partners signed a Memorandum of Understanding (MoU) during the ongoing Abu Dhabi Sustainability Week (ADSW) 2023. Read More
BYD ATTO 3 is voted ‘‘VAB Electric Family Car of the Year 2023’’. The jurors – 15 professional motoring reporters and 74 family jurors that judged 10 different electric cars at famous Zolder race circuit for 3 days – favored BYD ATTO 3 over 9 competitors from Volkswagen, Renault, Citroen, Nissan, CUPRA, MG, Aiways, Seres and SsangYong. VAB is the Flemish Automobile Club, and it organizes a coveted contest every year of the best family cars in different categories. Read More
The Wintershall Dea Supervisory Board approved a principle decision by the Management Board to exit Russia. As a consequence, Wintershall Dea intends to fully exit Russia in an orderly manner complying with all applicable laws and regulations.
Wintershall Dea to deconsolidate Russian segment from financial reporting and to record one-off non-cash charge of €5.3 billion in the fourth quarter relating to the deconsolidation as well as other Russia-related impairments
Significant financial flexibility maintained
Wintershall Dea Joint Ventures in Russia economically expropriated
Wintershall Dea intends to fully exit Russia in an orderly manner complying with all applicable legal obligations
CEO Mario Mehren: “Wintershall Dea will end its Russian activities. Continuing to operate in Russia is not tenable. Russia’s war of aggression in Ukraine is incompatible with our values and has destroyed co-operation between Russia and Europe. In recent months, limitations imposed by the Russian Government on operations of Western companies in the country and external interferences in our joint venture operations, made it impossible for Wintershall Dea to operate in Russia as before and resulted in an economic expropriation of the Joint Ventures in Russia.” Read More
German policymakers have now come to recognise the potential of CCS. In an evaluation report on the Carbon Dioxide Storage Act, Germany’s Federal Ministry for Economic Affairs and Climate Action (BMWK) recently noted that the country would have to safely store up to 73 million tonnes of CO2 each year under the seabed if it is to achieve net zero by 2045. However, there are still legal hurdles in Germany to transporting carbon dioxide to storage sites outside the country. Read More
The U.S. Energy Information Administration (EIA) expects global consumption of liquid fuels such as gasoline, diesel, and jet fuel, to set new record highs in 2024. According to EIA’s January Short-Term Energy Outlook (STEO), global liquid fuel consumption will exceed 100 million barrels per day, on average, in 2023 for the first time since 2019, then average more than 102 million barrels per day in 2024.
EIA expects crude oil prices to decrease through 2023 and 2024, even as petroleum consumption increases, largely because growth in crude oil production in the United States and abroad will continue to increase over the next two years. EIA forecasts that the European benchmark Brent crude oil price will average less than $80 per barrel in 2024, more than 20% lower than in 2022. Read More
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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