Rig Count, Oil Prices, Newstrack to 11/01/2021

Oil Prices Show Best Gain in Months due to Saudi Arabia’s surprise production cut

Commodity At press timeUnitsPrice $Change
Crude Oil (WTI)USD/bbl51.780.00%
Crude Oil (Brent)USD/bbl55.180.00%
Bonny LightUSD/bbl54.910.00%
Natural GasUSD/MMBtu2.590.00%
OPEC basket 08/01/21USD/bbl54.390.00%
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SunMirror AG Plans CHF 70 Million Raise to Fuel Growth The Board of Directors of SunMirror AG (“SunMirror”; XETRA Wien: ROR1; ISIN CH0396131929), the mining and exploration firm specialising in raw materials powering the technological future such as gold, lithium and other metals and minerals, has resolved a capital increase excluding the subscription rights of the existing shareholders.

Explosion at a Chinese battery factory A blast rocked a battery workshop in Ningxiang, Hunan Province, on Thursday The explosion occurred in the factory of Brunp Recycling Technology, which is reported to be the biggest company in China to recycle scrapped and old lithium-ion batteries.

Hyundai Motor Group introduced ‘HTWO’, a new brand to represent the group’s world-leading hydrogen fuel cell system. Building upon Hyundai’s 20-plus years of experience in hydrogen fuel cell technology, the brand will present hydrogen as a positive energy for humanity. HTWO stands for ‘H2’, the hydrogen molecule, whilst also representing ‘Hydrogen’ and ‘Humanity’, the two main pillars of Hyundai’s fuel cell business. The launch of the new fuel cell system brand will help facilitate Hyundai’s global fuel cell business and grow the hydrogen ecosystem.

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Baker Hughes Rig Count to 8th January 2021

RegionPeriodNo. of RigsChange
U.S.A08 Jan. 2021360+9
Canada08 Jan. 2021117+58
International30th Dec. 2020665-4
The Baker Hughes Rig Counts are an important business barometer for the drilling industry and its suppliers. [Read more…]

Italy could take stake in FCA-PSA’s Stellantis but any such investment would be made in a consensual way, Italy’s deputy economy minister, Antonio Misiani, told an Italian newspaper. Misiani said this was because Stellantis involves the national interest from an employment and industrial point of view, adding that a possible investment should take place under certain conditions “which do not exist at the moment.”

Both FCA and PSA declined to comment on the deputy minister’s quotes.

Tesla expands UK dealer network Tesla has expanded its UK car retail network to 25 sites in the last year and plans further growth in 2021. Tesla registrations have grown rapidly in 2020, with the Model 3 topping UK monthly sales charts twice during the year

VSL Wins Hywind Tampen Contract VSL, a subsidiary of Bouygues Construction, will carry out post-tensioning works on the eleven floating concrete hulls for the Hywind Tampen floating wind turbines under a contract with Kværner, the EPCI contractor for the project. The company will perform the post-tensioning works of the semi-submersible concrete structures, which will require installation of vertical post-tensioning tendons in the hulls with the length up to 85 metres.

New mounting system to integrate small PV into wind farms Smartvolt has developed a special mounting system that facilitates the quick deployment of small ground-mounted PV systems at the base of ??wind turbines. The PV system can be easily dismantled if the wind farm’s floor space is needed for maintenance work.

photocell boards

Prince Charles asks companies to join ‘Earth charter’ Terra Carta will harness the “irreplaceable power of nature”, the prince will say in his virtual address to the One Planet Summit on Monday. Prince Charles calls for ‘swift’ action on climate

Exporting US Shale Boom Has Changed Oil Forever U.S. shale’s gain was OPEC’s loss. As shale oil flooded the market, OPEC was forced to cede market share. The U.S., which had been one of OPEC’s biggest customers, has cut its monthly imports by about 50% since mid-2006.

72% Plugin Vehicle Market Share in the Netherlands The Netherlands had an amazing 30,860 plugin registrations in December, a 34% increase over the previous all-time record, set in the same month of last year, which itself was beating a 4 year old record.

Newstrack compiled by Oil and Gas Press / Segun Cole , Please email us your industry related news for publication info@OilAndGasPress.com

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