September 20, 2024 Global energy & automobile industry news, commentary and analysis
London, (Oilandgaspress) –– U.S. Rig Count is down 2 from last week to 588 with oil rigs unchanged at 488, gas rigs down 1 to 96 and miscellaneous rigs down 1 to 4.
Canada Rig Count is down 7 from last week to 211, with oil rigs down 6 to 144, gas rigs down 1 to 66 and miscellaneous rigs unchanged at 1.
The Worldwide Rig Count for August was 1,735, up 22 from the 1,713 counted in July 2024, and down 53, from the 1,788 counted in August 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 20 September 2024 | 588 | -2 |
| Canada | 20 September 2024 | 211 | -7 |
| International | August 2024 | 931. | -3 |
Hyundai Motor Company and Škoda Group have signed a Memorandum of Understanding (MOU) to commence collaboration on establishing a hydrogen mobility ecosystem. Ken Ramírez, Executive Vice President and Head of Global Commercial Vehicle and Hydrogen Business at Hyundai Motor Company, and Petr Novotný, CEO of Škoda Group, signed the MOU during the Korea-Czech Republic Business Summit in Prague.
“Our partnership with Škoda Group aims to accelerate hydrogen adoption, which would contribute to the advancement of hydrogen technology and carbon neutrality across global markets, including the Czech Republic,” said Ken Ramírez. “Together with Škoda Group, we strive to lead the rapidly growing hydrogen businesses by creating positive synergies between our fuel cell technology and Škoda Group’s mobility products and projects.”
“We believe that hydrogen, alongside energy-efficient solutions, will play an essential role in transforming mobility for a more sustainable future. Our collaboration with Hyundai Motor Company aims at enabling us to look beyond national borders and explore wider markets where these technologies can have a larger impact. By working together, we can bring innovative, eco-friendly solutions to the global mobility ecosystem, advancing cleaner energy in the areas where it’s needed most,” said Petr Novotný, CEO of Škoda Group.
The MOU covers study on adoption of hydrogen fuel cell systems and technologies, study on adoption of energy efficient solutions for mobility projects and products, and exploring hydrogen ecosystem and value chain opportunities beyond mobility.
Both parties share the view that hydrogen will be a key pillar for a sustainable society, starting with mobility. As part of the MOU, the parties will explore the possibility that Hyundai would share its fuel cell system and technology, contributing to the acceleration of eco-friendly mobility across global markets where Škoda Group operates, including the Czech Republic.
Hyundai Motor Company and Škoda Group will also conduct feasibility studies for fuel cell system applications for diverse utilization beyond mobility. Leveraging its global expertise and insights in operating various hydrogen applications in both mobility and energy sectors, Hyundai is poised to play a pivotal role in aiding the energy transition.
Hyundai Motor Group is committed to building a hydrogen society under its hydrogen value chain business brand HTWO, which encompasses the Group’s businesses and affiliates, enabling each stage of the entire hydrogen value chain.
Hyundai Motor Manufacturing Czech (HMMC) in Nošovice, established in 2008, has an annual manufacturing capacity of 350,000 vehicles. Considered one of the most modern car manufacturers in Europe, the manufacturing plant was also the largest foreign investment in the Czech Republic. Read full article
Hyundai Motor America is bringing together electrifying experiences and music-inspired joy as the official automotive sponsor of the iHeartRadio Music Festival Presented by Capital One. This is the third year that Hyundai has been a sponsor of the two-day music festival that features today’s biggest names. The festival is hosted at the T-Mobile Arena in Las Vegas, Nevada on September 20th and 21st.
Prior to the festival, iHeart personalities will join forces with Hyundai social media influencers to embark on an electric road trip from the iHeartRadio studios in Burbank, California to Las Vegas, Nevada. Driving the Hyundai electric vehicle lineup, they will make stops at iconic landmarks along the way, filling their fans feeds with exciting behind-the-scenes moments as they make their way to the festival. In addition, they will get to experience the blistering speed of the IONIQ 5 N at the Las Vegas Motor Speedway.
At the festival, Hyundai will bring the experience to life with an immersive activation at the House of Music outside of the T-Mobile Arena. Festival goers will have the opportunity to check out the IONIQ 5, IONIQ 5 N, and IONIQ 6 that will be on display set against the backdrop of vibrant neon lights and a state-of-the-art dance floor, reflective of Hyundai’s latest EV advertisement.
Inside the arena, between sets, iHeartRadio Music Festival Presented by Capital One attendees will enjoy videos from the winner of Hyundai’s “EV Sessions,” an electrifying social media “Battle of the Bands” competition using the IONIQ 5 vehicle to power each of the three performers’ amp. The campaign aims to showcase new voices and provide opportunities for industry newcomers by amplifying their talents and electrifying their journey to stardom.
“Just like music, our electric lineup transforms the way we move, offering an exciting and sustainable way to drive,” said Sean Gilpin, chief marketing officer, Hyundai Motor America. “We’re thrilled to bring this synergy to the iHeartRadio Music Festival Presented by Capital One, where fans can experience both the joy of music and the electrifying possibilities of our electric vehicles.”
The sponsorship also extends across digital, social and earned media opportunities, including branded spots and episodes running across the iHeartPodcast Network. The integrated program was developed in collaboration with Hyundai’s creative agency of record, INNOCEAN USA, while its media agency, Canvas, coordinated the media buys. Read full article
TotalEnergies announces the start of production from the Fenix gas field, located 60 km off the coast of Tierra del Fuego in Southern Argentina. The Fenix field is part of the Cuenca Marina Austral 1 (CMA-1) concession, in which TotalEnergies holds a 37.5% operated interest, alongside its partners Harbour Energy (37.5%) and Pan American Energy (25%).
With a production capacity of 10 million cubic meters per day (70,000 boe/d), the Fenix development consists of a new unmanned platform, located in 70 meters water depth and connected to the existing CMA-1 facilities. Gas produced at Fenix is sent through a 35-kilometer subsea pipeline to the TotalEnergies-operated Véga Pléyade platform and is subsequently treated onshore at the Río Cullen and Cañadon Alfa facilities, which are also operated by the Company. Fenix is a low cost, low emissions development, with a carbon intensity of 9 kg CO2e/boe, leveraging on the existing infrastructure.
“The start-up of Fenix production safely and ahead of schedule, only two years after FID, demonstrates the capacity of our Company to deliver its projects. Fenix will contribute to maintaining our gas production plateau in Tierra del Fuego and ensure a reliable supply to the Argentinean gas market” said Javier Rielo, Senior Vice President Americas, Exploration & Production at TotalEnergies. “With its low break-even and low carbon intensity, Fenix perfectly matches the Company’s low-cost and low-emission strategy.” Read full article
Neste Corporation has today received a notification under Chapter 9, Section 10 of the Finnish Securities Market Act (FSMA). According to the notification by BlackRock, Inc., the aggregate holdings of the entities referred to therein excluding financial instruments according to SMA 9:6a have on 19 September 2024 exceeded 5% of the total number of shares and voting rights of Neste Corporation. The aggregate holdings including financial instruments according to SMA 9:6a owned by BlackRock, Inc. and the entities referred to above amounts to 5.37% of the total number of shares of Neste Corporation. The share stock of Neste Corporation consists of 769,211,058 shares, each entitling one vote. Read More
ING is to call a halt to the financial backing of all pure-play upstream oil and gas companies working in either development or production and exploration of new fields. The decision will come into effect immediately. The new plan was revealed on Thursday in the bank’s 2024 Climate Progress Update. The decision has taken in support of the International Energy Agency (IEA)’s 2050 net-zero pathway, which includes strategies such as improving energy efficiency in existing fields, as well as stopping new oil and gas extraction projects. Read More
Kawasaki Heavy Industries, Ltd. (Kawasaki) and CB&I, a wholly owned unrestricted subsidiary of McDermott, announced today their signing of a strategic agreement for promoting a commercial-use liquefied hydrogen (LH2) supply chain and realizing a zero-carbon-emission society. The signing ceremony took place at Gastech Exhibition & Conference in Houston on September 18, 2024. “We are very pleased for this opportunity to build and launch a commercial liquefied hydrogen supply chain in cooperation with CB&I,” said Motohiko Nishimura, President, Energy Solutions & Marine Engineering Company, Kawasaki Heavy Industries, Ltd. “By taking advantage of both companies’ strengths and specialized know-how, we aim to cost down hydrogen, strengthen hydrogen supply chain competitiveness, and accelerate the transition to a zero-carbon society.”
Both companies will use their specialized know-how to provide infrastructure that will enable commercial-scale international LH2 supply chains in order to help achieve carbon-neutrality. By leveraging our combined expertise to deliver large-scale LH2 infrastructure solutions, CB&I and Kawasaki are removing barriers, driving down costs and enhancing scalability across the entire supply chain.
“This strategic partnership represents a significant advancement in liquid hydrogen storage capabilities,” said Mark Butts, Senior Vice President of CB&I. “Our technical expertise and extensive experience in liquid hydrogen storage position us at the forefront of the energy transition, delivering reliable storage solutions and executing projects worldwide with proven success.”
Under this agreement, the companies will provide infrastructure to advance the global realization of a sustainable energy economy and meet decarbonization targets. This collaboration will reduce LH2 infrastructure costs and contribute to more widespread use of this clean and efficient energy source. Read Press Release
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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