OPEC daily basket price stood at $95.99/bl, 08 Nov. 2022
Oil fell as China has not relaxed its Covid Zero stance. China’s Covid Zero strategy relies on lockdowns which affects factories and reduces demand for oil.
At the Smart Production Solutions (SPS) fair in Nuremberg, Germany, November. 8-10, Siemens will be presenting technical innovations and practical examples for greater sustainability in production. Easier, more open, more flexible and more sustainable production and planning processes – all of this is achieved through end-to-end automation and digitization to become a digital enterprise. Read More
The World Bank Group Board of Executive Directors approved South Africa’s request for a $497 million project to decommission and repurpose the Komati coal-fired power plant using renewables and batteries.
The project will also create opportunities for the affected workers and communities. This is in line with the government’s efforts to transition the country toward a low carbon development path with reliable, affordable, and sustainable energy for all. Read More
WTI for December delivery at $92.61 a barrel in New York.
Brent for January settlement $98.57 a barrel.
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $88.40 | Down |
| Crude Oil (Brent) | USD/bbl | $94.97 | Down |
| Bonny Light | USD/bbl | $97.56 | Down |
| Saharan Blend | USD/bbl | $99.42 | Down |
| Natural Gas | USD/MMBtu | $6.16 | Down |
| OPEC basket 08/11/22 | USD/bbl | $95.99 | Down |
Baker Hughes Rig Count
U.S. Rig Count is up 2 from last week to 770 with oil rigs up 3 to 613, gas rigs down 1 to 155 and miscellaneous rigs unchanged at 2. Canada Rig Count is down 3 from last week to 209, with oil rigs down 4 to 141, gas rigs up 1 to 68. International Rig Count is up 32 rigs from last month to 911 with land rigs up 28 to 688, offshore rigs up 4 to 223. The Worldwide Rig Count for October was 1,893, up 40 from September 2022
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 04 November 2022 | 770 | +2 |
| Canada | 04 November 2022 | 209 | -3 |
| International | October 2022 | 911 | +32 |
Just Stop Oil supporters have climbed onto motorway gantries around the M25 as part of their campaign to demand that the government halts all new oil and gas licences and consents From 6:30 this morning, around 10 supporters of Just Stop Oil climbed onto the overhead gantries of the M25 in multiple locations, both clockwise and anti-clockwise causing police to halt traffic. They have been joined today by supporters of Animal Rebellion to disrupt traffic on London’s orbital motorway. Read More
Neste is introducing public high power charging (HPC) at its service stations in Finland for light and medium-duty electric vehicles. Neste MY Renewable Charging™ adds another option to Neste’s portfolio of solutions in Finland for supporting the transition to low-emission transport.
Serving both business and consumers, Neste’s first public high power charging stations will become available at the turn of the year at Neste Hankasalmi Jari-Pekka and Neste Oulunbaari Maikkula service stations. Furthermore, Neste aims to open dozens of new fast charging stations at Neste service stations across Finland by the end of 2024. Neste has received EUR 3 million for the construction of its public EV charging network in transport project funding from the European Union’s Alternative Fuel Infrastructure Facility under the Connecting Europe Facility Program. Read More
Africa Oil Corp. will publish its financial and operating results and related management’s discussion and analysis for the three months ended September 30, 2022, after Toronto market close on Monday, November 14, 2022. Read More
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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