Top Energy/Automotive News As Reported
London, 24 April, 2023, (Oilandgaspress) : Crude oil futures are trending higher as hopes of a demand-led recovery grows irrespective of the health of the U.S. and European economy.
Integrated power company Tata Power has partnered with the Coimbatore municipal corporation to install 20 public electric vehicle charging stations the company said on Thursday. With the installation of 20 public EV chargers, the total EV charging stations set up by Tata Power in Tamil Nadu would increase to 116. Read More
The world’s second-largest lithium producer, Chile, plans to nationalize the lithium extraction industry, Chilean President Gabriel Boric said this week, adding that future contracts would be given only to public-private partnerships with state control. The announcement sent shares in the world’s biggest lithium producers, Albemarle Corporation and SQM, tumbling on Thursday and early Friday. Read More
Thanks to a new evo-kit, the Porsche 911 GT2 RS Clubsport has become even stronger. The twin-turbo racing car can be fielded at clubsport events, track days, and in GT2 racing series. Priority was put on increasing aerodynamic efficiency and ensuring a more consistent performance over longer distances.
Porsche Motorsport has created the next evolution of the 911 GT2 RS Clubsport for its customer teams contesting GT2 championships. The update primarily includes extensively optimised aerodynamics, redesigned 18-inch wheels and modified shock absorbers as well as further improved safety features. The underlying technology of the racing car remains unchanged and is still based on the high-performance 991-generation 911 GT2 RS sports car powered by a twin-turbocharged 3.8-litre flat-six engine. The evo-kit brings the competitiveness of the 911 GT2 RS Clubsport up to current standard, especially over long distances. The latest configuration stage will be raced for the first time this weekend as part of the European Fanatec GT2 series in Monza, Italy. The SRO championship includes six race weekends each with two races run over approximately 50 minutes. Extensively revised aerodynamics is the key component of the evolution version. The front section features a new apron with modified air intakes for brake cooling and the diffuser as well as a centrally-mounted radiator at the front. The front lid has been adapted to provide appropriate ventilation. A redesigned front splitter generates more downforce on the front axle. In combination with the new and higher Gurney flap on the rear wing, the aerodynamic balance has also improved. Read More
Vestas secures 238 MW order for offshore wind project in Japan
Vestas has secured a 238 MW order from Hibiki Wind Energy for the Kitakyushu-Hibikinada Offshore Wind Farm Project located off the coast of Kitakyushu city, Fukuoka prefecture, Japan.
The order includes supply and installation of 25 V174-9.5 MW wind turbines as well as long-term Active Output Management 5000 (AOM 5000) service agreement for the wind farm.
With this project, Vestas will strengthen its position as a leader in offshore wind energy in Japan, leveraging its experience and expertise established through the number of offshore wind energy projects in global markets as well as in Asia Pacific.
“We are delighted to be partnering with Hibiki Wind Energy and provide our V174-9.5 MW turbines for this important project in Japan’s offshore wind energy development. We remain committed to contribute to Japan’s carbon neutrality goal, through our leading wind energy solutions and strong partnership with our customers,” said Purvin Patel, Vestas Asia Pacific President. Yutaka Mizumachi, Representative Director and President of Hibiki Wind Energy said “We selected Vestas because of the high reliability of its wind turbines, which have been in operation for many years around the world, and also because of the expectation for local contribution. We hope that the service and maintenance provided by Vestas will be a catalyst for the revitalisation of the local economy”. Commissioning is planned for 2025. Once installed, the project will feature the most powerful wind turbines operating in Japan. Read More
Subsea7 – Transfer of shares to the ordinary ISIN of Subsea 7 S.A.
Subsea 7 S.A. refers to the stock exchange release dated 14 March 2023 where Subsea 7 S.A. (“Subsea7”) announced the issuance of 8,540,433 new shares (the “Consideration Shares”) with a separate ISIN in connection with the completion of the acquisition of 187,889,551 shares in Seaway 7 ASA from Songa Capital AS, Lotus Marine AS and West Coast Invest AS.
The Consideration Shares have today, following the record date for the annual dividend on 21 April 2023, been transferred to Subsea7’s ordinary ISIN and are now tradable on the Oslo Stock Exchange. Read More
Subsea7 – Issuance of new shares in Subsea 7 S.A. in connection with completion of the voluntary exchange offer to acquire all shares in Seaway 7 ASA
Subsea 7 S.A. refers to the stock exchange release dated 19 April 2023 where Subsea 7 S.A. (“Subsea7”) announced the final results in the voluntary exchange offer to acquire all shares in Seaway 7 ASA (the “Offer”). The Offer has now been settled and Subsea7 has issued 1,435,806 new shares. The new share capital of Subsea7 is USD 608,588,544, divided into 304,294,272 shares with a nominal value of USD 2.00 each.
Subsea7 intends to conduct a compulsory acquisition of the remaining outstanding shares in Seaway 7 ASA, which will be settled in cash.
Fearnley Securities AS is acting as receiving agent and Advokatfirmaet Wiersholm AS is acting as legal advisor to Subsea7. Read More
Neste and Viva Aerobus sign purchase agreement for one million liters of sustainable aviation fuel
Neste and Viva Aerobus, the Mexican ultra low-cost carrier, have signed a new purchase agreement for one million liters (264,000 gallons) of Neste MY Sustainable Aviation Fuel™. The sustainable aviation fuel (SAF) supplied to Viva Aerobus will be blended with conventional jet fuel and used to power the airline’s flights from Los Angeles International Airport to Guadalajara, Mexico City and Monterrey in Mexico.
Last year, on June 15, Viva Aerobus completed its first flight powered by Neste’s SAF from Los Angeles to Guadalajara, and the current agreement is the next step in fulfilling the airline’s mission of further reducing its carbon emissions. SAF-powered flights will start to take off in the second half of 2023 with each flight using a fuel blend with about 35% of Neste MY SAF. The total volume of SAF purchased will help Viva Aerobus reduce greenhouse gas emissions by approximately 2,415 tons of CO2e, equivalent to the emissions of 537 passenger cars in the U.S. in a year*. “We embrace the goal to reduce our carbon footprint, a goal which requires an extensive commitment. We are proud to increase the use of SAF, partnering with Neste, and we will also continue to take further steps in adhering to best practices in sustainability such as optimizing our fuel efficiency. We deeply thank Neste for supporting us on our journey towards becoming a more eco-friendly carrier,” said Juan Carlos Zuazua, CEO of Viva Aerobus.
“We are thrilled to team up with Viva Aerobus, a fast-growing airline, and support their commitment to minimizing the carbon footprint of their flights with our Neste MY Sustainable Aviation Fuel. Los Angeles International Airport is an important hub for Viva Aerobus travelers to fly between the U.S. and Mexico, and this partnership will make their trips more sustainable, building on Neste’s capabilities to supply SAF to airlines at one of the busiest airports in the US and the world,” said Michael Sargeant, Vice President Americas from the Renewable Aviation business unit at Neste.
In addition to purchasing Neste’s SAF, Viva’s recent efforts to contribute to a more sustainable Mexican air industry include Viva being the airline with the youngest aircraft fleet in Mexico equipped with fuel-efficient technology, implementing the first program in the Mexico aimed to separate and recycle on-board waste, and the launching of its voluntary carbon offset program. Read More
National Grid has pulled out of plans to construct fresh pipelines in the Humber area for carbon capture and transportation to the North Sea.
National Grid Ventures (NGV), the company’s subsidiary, is currently engaged in discussions with potential partners to sell the onshore pipeline project and has already withdrawn from an earlier stage of the initiative.
Carbon capture and storage is believed to be crucial to achieving net zero emissions, but it is not yet widely implemented in the UK.
Recently, power plants in the Humber region missed out on government support for carbon capture.
The UK Government aims to capture and store up to 30 million tonnes of carbon dioxide emissions underground by 2030.
NGV was involved in plans to capture emissions from two of the UK’s largest industrial areas – Humber and Teesside – and store them under the North Sea.
The company was expected to develop 120-kilometre pipelines starting from Drax’s power station in North Yorkshire, collecting emissions from factories and power plants in North Lincolnshire, and carrying them out towards Easington on the coast. Read More
Ofgem is reportedly considering a proposal that would enable energy suppliers to levy an annual charge of £30 on households to recover the expected surge in debt as a result of the restrictions on prepayment meter installations. According to The Times, energy suppliers may add the annual £30 charge to bills from October. An Ofgem spokesperson told ELN: “We’re tightening up the rules on when and where prepayment meters can be installed, which combined with the current pause on installations may result in higher debt levels in energy suppliers. “These improved protections are needed, but we need to balance these with the potential impact on levels of bad debt. Read More
The Offshore Technology Conference (OTC 2023) will be held from 1-3 May at NRG Park in Houston
The Offshore Technology Conference (OTC) is the world’s foremost event for the development of offshore resources, showcasing leading-edge technology for offshore drilling, exploration, production, and environmental protection.
OTC is a global event that connects offshore energy professionals to collaborate and discuss the challenges, solutions, and changing energy landscape of the offshore energy sector. It is sponsored by 13 industry organisations and societies who work cooperatively to develop the technical programme. Last year’s event attracted more than 24,000 energy professionals from 93 countries, with more than 1,000 companies from 39 countries showcasing their produces and services. The technical conference featured more than 300 technical presentations covering topics from wellbore to topsides and everything in between. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $78.98 | Up |
| Crude Oil (Brent) | USD/bbl | $82.92 | Up |
| Bonny Light | USD/bbl | $81.76 | Up |
| Saharan Blend | USD/bbl | $82.18 | Up |
| Natural Gas | USD/MMBtu | $2.22 | Up |
| OPEC basket 24/04/23 | USD/bbl | $82.30 | Up |
OPEC Reference Basket (ORB) made up of Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
The Volkswagen Group is systematically expanding its development expertise ‘in China for China’. The company is investing around EUR 1 billion in a new state-of-the-art development, innovation, and procurement centre for fully connected intelligent electric vehicles in the southern Chinese city of Hefei. The announcement was made today by the Volkswagen Group at the Shanghai Auto Show. The new company, with the project name ‘100%TechCo’, combines vehicles and components R&D teams with purchasing. This will leverage synergies in the development process and integrate state-of-the-art local technologies into product development at an early stage. The aim is to align the Group’s vehicles even more quickly with the wishes of Chinese customers and to achieve shorter time to market. With the launch of 100%TechCo in 2024, the development times of new products and technologies will be gradually shortened by around 30 percent. Read More
The world’s first fully remote inspection of offshore wind farm assets has been successfully carried out by Fugro, using one of its Blue Essence® uncrewed surface vessels (USVs) with Blue Volta®, an electrical remotely operated vehicle (eROV). The inspection at the Aberdeen offshore wind farm in the North Sea (also known as the European Offshore Wind Deployment Centre) was jointly funded by Vattenfall and Offshore Renewable Energy (ORE) Catapult. This partnership gives innovators in the offshore wind supply chain the opportunity to test and prove technologies in real-world conditions to support innovation in operations and maintenance.
Blue Essence® is the first USV to receive approval from the Maritime and Coastguard Agency (MCA) to operate fully remotely with an eROV and undertake surveys in UK waters. The eROV, which was remotely launched and recovered from Fugro’s remote operations centre (ROC) in Aberdeen, delivered a number of inspections on the structure of the wind turbines to assess their stability and safety. A detailed map of the seabed was also created using data gathered from a deepwater multibeam echosounder sensor mounted on the hull of the vessel. The acquired Geo-data was accessed in real-time, allowing Vattenfall to make quick decisions about their asset maintenance programme.
Blue Essence® forms part of Fugro’s wider strategy towards more uncrewed operations for greater agility, safety and sustainability; the vessel can spend up to two weeks executing inspection activities at sea without refuelling resulting in a 95 % reduction in carbon emissions compared to conventional ROV support vessels. Read More
Fugro’s remotely operated vehicle (ROV) introductory training course has received International Marine Contractors Association (IMCA) approval, marking a significant milestone for the company and the offshore industry at large.This world-first endorsement ensures that only appropriately trained and competent individuals enter the ROV industry, helping to maintain high safety standards and quality services to clients.
Participants will have the opportunity to attend the course in person at Fugro’s recently opened ROV Training Centre of Excellence – a part of the Fugro Academy Training Centre in Plymouth. The comprehensive training programme is designed to provide participants with a strong foundation in the ROV industry, covering a wide range of topics, including the history and development of the ROV industry, safety, environmental considerations, and hazard management.
Meeting IMCA requirements, all new trainees must have a suitable educational background and a minimum of three years’ work experience in a relevant field before joining the course. This ensures that participants have a strong foundation and the necessary industry-specific knowledge to succeed in the programme. Additionally, all trainees must pass a written exam and complete all course modules to obtain certification. By adhering to these rigorous standards, Fugro ensures that its trainees receive the highest quality education, preparing them to become competent and successful professionals in the ROV industry. Read More
Fugro has played a key role in locating the wreck of the Montevideo Maru, one of the worst international maritime disasters in history.In close partnership with the Silentworld Foundation and the Rabaul and Montevideo Maru Society, and support from Australia’s Department of Defence, Fugro used their unparalleled deepwater hydrographic and oceanographic expertise to successfully identify the wreckage of the Japanese transport ship at a depth of more than 4000 m off the coast of the Philippines.
The Montevideo Maru was carrying approximately 1060 prisoners of war and civilians when it was sunk by an American submarine in 1942 during World War II. The tragedy resulted in fatalities from at least 14 countries, including Australia, Denmark, England, Estonia, Finland, the Netherlands, Japan, Ireland, New Zealand, Norway, Scotland, Solomon Islands, Sweden and the US.
On 6 April 2023, 110 km north-west of Luzon in the Philippines, the Fugro team started the search onboard the Fugro Equator, one of the world’s most advanced and well-equipped hydrographic survey vessels. Deploying an autonomous underwater vehicle (AUV) with an in-built sonar, a positive sighting was recorded after just 12 days. Verification of the wreck came a few days later using expert analysis from the project team, which comprised maritime archaeologists, conservators, operations and research specialists, and ex-naval officers. Read More
Baker Hughes Rig Count
U.S. Rig Count is up to 753 with oil rigs up 3 to 591, gas rigs up 2 to 159 and miscellaneous rigs unchanged at 3.
Canada Rig Count is down to 105, with oil rigs down 3 to 42, gas rigs down 3 to 63.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 21 April 2023 | 753 | +5 |
| Canada | 21 April 2023 | 105 | -6 |
| International | March 2023 | 930 | +15 |
Maran Dry Management Inc. (MDM), the dry bulk shipping arm of the Angelicoussis Group, recently took delivery of two Newcastlemax bulk carriers, Ubuntu Unity on February 28th and Ubuntu Community on April 18th – both from Shanghai Waigaoqiao Ship Building Co., Ltd. (SWS). The two DNV-classed vessels are the first LNG-fueled bulk carriers to join the MDM fleet.The 190,000-dwt vessels, registered with the Greek flag, are the first dual-fueled bulk carriers in the Greek market, and will sail using LNG. The use of LNG will lead to significant reductions in CO2 and NOx, while almost eliminating SOx and particulate matter emissions. With a combination of dual-fuel, hull optimizations and energy efficiency measures, the vessels have a very advantageous and low EEDI rating, much lower than the baseline. Read More
DNV has expanded its research laboratory in Singapore with new testing equipment for the safety assessments of hydrogen transport and storage facilities.
Hydrogen is essential to reach the Paris Agreement climate targets, as the best energy source to decarbonize hard-to-abate sectors such as heavy industry, maritime and large scale transport. It is also central in supporting the integration of intermittent renewables through the provision of flexible power generation options. As several gas network operators in the APAC region are exploring the opportunity to transport hydrogen through adapted or repurposed infrastructure, DNV’s new test chamber can be used to evaluate whether existing pipelines can safely transport hydrogen – either blended with natural gas or in pure form.
DNV is currently providing technical advice and support on the integration of blended hydrogen into gas trunkline assets in India – including transmission pipelines, interconnects and spur lines, compressors, valves, and metering stations and equipment. The company is also assisting Korea Gas Corporation (KOGAS) in a two-year project to assess the viability of blending hydrogen into South Korea’s gas transmission network.
In technical terms, the new equipment in Singapore provides a hydrogen-ready integrated solution for fatigue crack growth rate (FCGR) testing. The test chamber includes hydrogen booster systems, safety and hydrogen alarms, ventilation systems, and an additional test vessel. Read More
DNV opened its new Technology Centre on Groningen’s Zernike campus, a vibrant ecosystem of education, business and research activities. The new, sustainable facility is equipped with the latest testing equipment to support DNV’s research into the decarbonization of energy systems. The Technology Centre will articulate research and technology qualification for the energy sector around several axis, aiming to: demonstrate and qualify low-carbon technologies optimize and repurpose existing gas infrastructure,
provide innovative metrology for energy systems, lead research on hydrogen & H2-derived fuels, and conduct safety analyses and failure investigations. Read More
Emirates Nuclear Energy Corporation has completed the refuelling of Unit 2 of Abu Dhabi’s Barakah Nuclear Energy Plant.
The process included replacing one third of the fuel packages at the heart of the unit, and the inspection of remaining fuel, in line with international standards.
Providing clean energy in support of UAE’s decarbonisation efforts and Net Zero by 2050 goals during the Year of Sustainability and beyond, Unit 2 of the Barakah Nuclear Energy Plant has generated 10,402 gigawatt-hour (GWh) of clean electricity and prevented more than 5,000 kilotons of carbon emissions since the beginning of its commercial operations in March 2022. The four units at Barakah, once all commercially operational, will generate up to 5,600 megawatts (MW) of clean electricity around the clock, equivalent to almost 40 per cent of the UAE’s peak demand of about 15,000MW. Refuelling is a scheduled activity that takes place around every 12-24 months, depending on the plant. Read More
GE announced new options for further emission reductions technologies are now available for its LM25000XPRESS aeroderivative gas turbine fleet worldwide following successful installation on gas turbines in Colorado. This announcements comes on the heels of GE’s announcement of the world’s first technical solution on four TM2500* aeroderivative gas turbines deployed at the Department of Water Resources’ (DWR) sites in Yuba City and Roseville to reduce nitrogen oxide (NOx) and carbon monoxide (CO) emissions by over 90%, surpassing World Bank Emissions Standard.
Catalytic Oxidation Reduction (COR) emissions control technologies—an efficient way to control harmful CO emissions—were installed for the first time for this turbine fleet at Colorado Spring Utilities’ Martin Drake Power Plant.
“This project marks the first installations of COR emissions control technologies on a GE LM2500XPRESS units globally, a further demonstration of our momentum to provide fast, flexible, and now more sustainable power through our leading aeroderivative gas technology,” said Aman Joshi, General Manager at GE Gas Power’s Aeroderivative Business. “Power plant operators, like Colorado Spring Utilities, are helping to drive down emissions while not compromising reliability and affordability of electricity for their own customers, and GE is proud to collaborate with them on these latest projects. GE’s aeroderivative gas turbine fleet play an important role in the energy transition and the availability of these emissions solutions can meaningfully enhance the overall reduction of greenhouse gas emissions.” Read More
A jury in California has cleared Tesla of responsibility for injuries caused to a driver when her Model S hit a curb while on Autopilot. The suit asked for more than $3 million in damages. In response to driver’s complaint, Tesla argued “that driver used Autopilot on city streets, despite Tesla’s user manual warning against doing so,” according to ArsTechnica. The case finally came to trial this spring. During three weeks of testimony, the jury heard from three Tesla engineers who testified about how the Autopilot system works and the safeguards built into the system to remind drivers to always be attentive to the road ahead and ready to assume control of the vehicle at any time. Hsu testified that the system only prompted her to take control of the car about one second before the crash occurred. On Friday, April 21, the jury rendered a verdict in favor of Tesla. After the trial ended, several jurors spoke with Reuters about their decision. They said Tesla clearly warned drivers that the partially automated driving software was not a self-piloted system and that driver distraction was to blame for the accident. In addition to rejecting Hsu’s Autopilot claim, the jury “found that the airbag did not fail to perform safely, and that Tesla did not intentionally fail to disclose facts to her,” Reuters reported. The jury awarded Hsu nothing in damages. Read More
A consortium of Siemens Energy and Spain’s Dragados Offshore has signed a framework agreement with German-Dutch transmission system operator TenneT to supply high-voltage direct current (HVDC) transmission technology for three grid connections in the German North Sea. The projects available through the agreement will ensure that a total of 6 gigawatts (GW) of offshore wind power can be transported onshore. The contract value for the consortium of Siemens Energy and Dragados Offshore is close to €7 billion. The three grid connections, named BalWin3, LanWin2, and LanWin4, will transport electricity from wind farms in the German North Sea to grid connection points in the north of Germany. Each of the systems has a transmission capacity of two gigawatts. Siemens Energy will manufacture the main electrical components, such as switchgears, transformers and converter technologies, at its factories in Europe. The Spanish consortium partner Dragados Offshore is responsible for the construction and offshore installation of the platforms. Read More
Saipem and Clough, the Australian subsidiary of the Webuild Group, in an equally shared (50/50) joint venture, have reached full contractual effectiveness by the achievement of the Commencement Date for the development of Perdaman Industries’ urea plant on the coastline of Western Australia.
The above follows the agreement between the two partners, reported in the joint press release issued on May 27, 2022, and reflects the changed market scenario which has developed globally in recent months. The new contract value is slightly above 2.8 billion USD (share of each JV participant around 1.4 billion USD).
The plant will be part of a landmark project for Western Australia, generating on average 2,000 jobs during the construction phase and approximately 200 permanent jobs during the operational phase. The joint venture and Perdaman’s commitment to make a positive impact in the community are aligned, and a key aspect during the construction phase is to engage with the Indigenous and local communities through career, training and business opportunities ensuring long lasting social benefits. Read More
With reference to the press release dated 19 April 2023 related to the two-year extension of the contract, which Saipem S.p.A. has been awarded by Eni S.p.A., for the use of the Santorini drillship, pursuant to Article 6 of the Consob Regulation on related party transactions, Saipem informs that the above transaction qualifies as a “related party transaction”, since Saipem is jointly controlled by Eni S.p.A. and CDP Equity S.p.A. The transaction, which qualifies as a “transaction of greater importance”, falls under the exclusion provided for by Article 13, paragraph 3, letter c) of the aforementioned Consob Regulation, as it is a ” regular transaction completed in market-equivalent or standard terms”. Read More
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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