Top Energy/Automotive News As Reported
London, 10 May, 2023, (Oilandgaspress) : China’s exports rose 8.5% in April, beating economists forecasts, signaling global demand remains robust. Imports, though, dropped 7.9%, worse than the median projection in a Bloomberg survey.
Nigeria is set to finally see a 650,000 barrels per day (bpd) oil refinery commissioned later this month.
The Dangote Refinery, built by the group of the same name of Africa’s richest person, Aliko Dangote, is expected to be inaugurated by Nigeria’s outgoing President Muhammadu Buhari on May 22, Nigerian outlet THISDAY reported on Sunday, quoting a source at the refinery. Read More
Neptune awarded industry-leading ESG rating Neptune Energy today announced it has received its best environmental, social and governance rating to date from Sustainalytics, putting it in the top 3% of all global oil and gas companies rated by the organisation.
Neptune’s industry-leading rating of 21.4 was awarded in recognition of its enhanced disclosure and performance across a range of areas including greenhouse gas risk management, equality, diversity and inclusion and community involvement. In its latest ESG rating report, Sustainalytics stated Neptune’s ESG reporting “is in line with best practice standards. It has an executive-level ESG committee responsible for ESG issues. Read More
Golar LNG instructed Nordic Trustee AS to summon a written resolution for the Company’s senior unsecured bonds maturing 20 October 2025 (ISIN NO 0011123432). The purpose of the written resolution is to consider a proposal for certain amendments to the bond terms (the “Proposal”). The background for the proposal is the significant strengthening of the Company’s financial position since the issuance of the unsecured bonds. The Company is therefore seeking to make certain amendments to the definition of Permitted Distribution, to increase the Company’s flexibility for potential future shareholder returns in return for a one-off financial compensation to the bondholders and implementation of an incurrence test. The summons for a written resolution including details on the Amendment Proposal is attached to this press release. The Voting Period shall expire on 25 May 2023 at the latest, at which point the final outcome of the Proposal will be decided and made public. Read More
San Leon Update on Oza field, Nigeria
San Leon notes the announcement made on 8 May 2023 by Decklar Resources in Canada. San Leon has a 11% shareholding in Decklar Petroleum Limited (‘DPL’), the local subsidiary of Decklar operating in Nigeria, and has also made a US$5.5 million loan to DPL, via 10% per annum unsecured subordinated loan notes.
San Leon continues to explore a potential sale of its non-core investments in DPL although the completion remains subject to the purchaser finalising its own funding arrangements, further details of which were most recently announced by San Leon on 24 March 2023 Read More
Volkswagen expands regional design capability
Volkswagen in North America is expanding its regional design capability by appointing a new head designer who will oversee Volkswagen’s vehicle lineup in the North and South American Regions. Jose Carlos (JC) Pavone will add North American design to his current role as Head of Design for Volkswagen South American Region. Pavone will be Head of Design for North and South American Regions.
Pavone brings strong experience in integrating innovative approaches with the vehicle design process, like using augmented and virtual reality, which is faster and more effective for prototype development. Initially, Pavone will split his time between Volkswagen’s Design Centers in the U.S. and Brazil. Read More
Six Hyundai Elantra N TCRs will Represent Hyundai Motor America at the Manufacturer’s Home Race at WeatherTech Raceway Laguna Seca on May 12-13
Hyundai Motor America continues competition in the IMSA Michelin Pilot Challenge (IMPC) as the schedule shifts to WeatherTech Raceway Laguna Seca for the Motul Course De Monterey Powered by Hyundai N weekend – the home event for Hyundai Motor America. Making his debut at WeatherTech Raceway Laguna Seca and IMPC is Jordan Wiseley. Wiseley is an actor and athlete that competed on MTV’s THE CHALLENGE television series and became one of the winningest competitors across seven seasons. The WeatherTech Raceway Laguna Seca 120 is set to see the green flag fly at 7:30 p.m. ET / 4:30 p.m. PT on Saturday, May 13.
As the checkered flag waves at WeatherTech Raceway Laguna Seca, all focus shifts to the ADAC TotalEnergies 24H Nürburgring race the following weekend. Representing Hyundai Motor America, Bryan Herta Autosport’s (BHA) teammates Taylor Hagler, Michael Lewis, Mason Filippi and Harry Gottsacker will all depart to Germany as the final step of their journey to the famed 24-hour race. Action for the ADAC TotalEnergies 24H Nürburgring begins on Thursday, May 18 with practice and the race beginning at 4 p.m. Central European Summer Time (CEST). Read More
EIA expects less overall electricity demand this summer, but more generation from renewables and natural gas The U.S. Energy Information Administration (EIA) expects that a slightly cooler summer in 2023 will lead to less demand for air conditioning than in 2022, slightly reducing overall demand for electricity this summer. In its May Short-Term Energy Outlook (STEO), EIA expects that despite less electricity demand this summer, more electricity will be generated from renewable sources and from natural gas throughout 2023. EIA forecasts this summer will see the second-most U.S. natural gas consumption for electricity generation on record, surpassed only by last summer. EIA continues to expect significant growth in U.S. electricity generation from wind and solar, but the wet winter in California and the western United States should also increase electricity generated from hydropower during the coming months. Read More
Airbus Helicopters delivers first H135
Airbus delivered the first H135 to the Spanish Air and Space Force in Albacete. This is the eighth helicopter delivered under the 36-unit contract signed at the end of 2021 to supply the Armed Forces and State Security Forces.
This delivery is six months ahead of schedule, which will facilitate crew training and the entry into service of the H135 for the 78th Wing at the MIlitary School of Helicopters in Armilla (Granada), where it will perform advanced training tasks for military pilots. Once the planned fleet of 11 helicopters are delivered to the Air Force, the H135 will become the helicopter of reference for pilot training for the Spanish Air Force, Army, Navy, the Guardia Civil and other countries requesting such training at the Granada base. Read More
Ryanair Places Order for up to 300 737 MAX Jets
Boeing [NYSE: BA] and Ryanair announced Europe’s leading low-cost airline has selected the largest 737 MAX model to power its future growth with an order for up to 300 airplanes. The purchase agreement is the biggest in Ryanair’s history and includes a firm order for 150 737-10 jets and options for 150 more.
Ryanair has deployed a growing fleet of 737-8-200 airplanes to accelerate its post-pandemic recovery and meet strong travel demand. The 197-seat 737-8-200 model has helped the airline reduce fuel use and emissions by over 20% compared to the airplanes they are replacing. The new order adds the larger 737-10 variant, which offers Ryanair 228 seats and the best unit economics of any single-aisle airplane. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $73.20 | Up |
| Crude Oil (Brent) | USD/bbl | $76.98 | Up |
| Bonny Light | USD/bbl | $74.52 | Down |
| Saharan Blend | USD/bbl | $74.99 | Up |
| Natural Gas | USD/MMBtu | $2.25 | Up |
| OPEC basket 09/05/23 | USD/bbl | $76.31 | Down |
Oil and Gas News Undiluted !!! �The squeaky wheel gets the oil� |
Tesla this week broke ground on a lithium refinery in Texas in the company’s latest move aimed at ensuring a sufficient supply of critical materials for the manufacturing of its cars. It is also part of a plan to expand Tesla’s presence across the EV supply chain, Reuters noted in a report on the news. Read More
Baker Hughes Rig Count
International Rig Count is up 17 rigs from last month to 947 with land rigs up 18 to 720, offshore rigs down 1 to 227
U.S. Rig Count is down 7 from last week to 748 with oil rigs down 3 to 588, gas rigs down 4 to 157 and miscellaneous rigs unchanged at 3.
Canada Rig Count Unchanged at 93, with oil rigs at 36, gas rigs at 57.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 05 May 2023 | 748 | -7 |
| Canada | 05 May 2023 | 93 | – |
| International | April 2023 | 947 | +17 |
Oil and Gas News Undiluted !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
Disclaimer: News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
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