Top Energy/Automotive News As Reported; Electric cars aren’t the only answer to climate crisis
London, 12 May, 2023, (Oilandgaspress) : Nigeria’s oil production is currently lower than its technical allowable capacity by about one million barrels per day, the Federal Government announced on Wednesday. It attributed the low oil output to challenges such as lack of investments, insecurity, and reduction in hydrocarbon funding arising from energy transition, among others.The government disclosed this through the Nigerian Upstream Petroleum Regulatory Commission at the host communities sensitisation workshop with the theme, “The Implementation of The Host Communities Development Trust,” held in Abuja Read More
Germany has more than a million battery-powered cars. Electric cars aren’t the answer to the climate crisis. But they’re a significant part of the energy transition towards zero emissions. Fortunately, battery-only vehicles are becoming increasingly popular. In 2022, the number of these fully electric passenger cars in EU countries increased by 58 per cent compared to 2021 – from 1.9 million to 3.1 million. Between 2019 and 2022 they soared by more than 400 per cent. More significantly, the share of EVs among the total number of cars rose to 76 per 10,000 in the EU in 2021, up from only 2 per 10,000 in 2013. All these figures show a timely sea change in the automotive sector in Europe. Read More
Equinor Ex dividend 4q22 From 11 May 2023, the shares in Equinor (OSE: EQNR; NYSE: EQNR) will be traded ex dividend USD 0.90 (ordinary dividend of USD 0.30 and extraordinary dividend of USD 0.60). Read More
“The Porsche myth lives and will never perish!” – Dr. Wolfgang Porsche made this legendary promise to the Porsche team in Zuffenhausen in July 2009 and gave them confidence in difficult times. Today, the Chairman of the Supervisory Board of Porsche AG is celebrating his 80th birthday and can see himself confirmed. Porsche is successfully listed on the stock exchange, has quickly entered the DAX stock index, and has repeatedly achieved record sales, revenue and earnings in recent years thanks to an extremely robust business model. The transformation towards electric mobility is also proceeding according to plan. This is all not least thanks to the person now celebrating his 80th birthday, who has chaired the sports car manufacturer’s Supervisory Board since 2007. Read More
Mercedes-Benz at RETTmobil 2023
Mercedes-Benz is a long-standing, recognised and reliable partner of the emergency services. This was demonstrated not only recently at the twentieth anniversary of the standardized Ambulance for the Bavarian Red Cross, but also in the annual presence at the leading European trade fair for rescue and mobility RETTmobil. This year, it will take place from 10 to 12 May 2023 at the exhibition centre in Fulda and will present the latest innovations in rescue services. In addition to the exhibition, there will be an extensive supporting program.
This time, the 340 square meter booth in Hall 1 is all about “Internationalization” and points out that Mercedes-Benz not only works with fire and rescue services in Germany, but increasingly also throughout Europe. This cooperation extends both to the basic vehicles and to the cooperation with the respective body manufacturers. These provide the respective expansion solutions and must take into account the different standards in rescue services of the individual countries. There will be three exhibits at the booth: A Sprinter ambulance with box body from Wietmarscher Ambulanz- und Sonderfahrzeug GmbH, an eVito Tourer as an emergency medical vehicle, which Ambulanz Mobile has expanded, and – as a trade fair premiere – an eCitan as a concept vehicle with an extension for the rescue service from CARS Technik und Logistik GmbH. Read More
Nürburgring 24-hour race
Mercedes-AMG Customer Racing is entering the 51st running of the ADAC TotalEnergies 24h Race at the Nürburgring with the clear goal of claiming the third overall win after its victories in 2013 and 2016. There are numerous opponents: the provisional entry list for this year’s 24-hour race at the Nordschleife includes a total of 32 cars in the SP9 class, all competing for the overall win. Among them, there are six Mercedes-AMG GT3s. As a result, Mercedes-AMG Customer Racing is among those with the largest contingent in the top class. Mercedes-AMG Team GetSpeed already underlined AMG’s high ambitions during the ADAC 24h Nürburgring Qualifiers in April: in the two qualifying races, Adam Christodoulou (GBR) and Daniel Juncadella (ESP) scored one victory and a second place. Read More
Hyundai in Partnership with Korean Government Entities
Hyundai Motor Company signed a memorandum of understanding (MoU) with two Korean government entities, the Ministry of Oceans and Fisheries (MOF) and the Korea Fisheries Resources Agency (FIRA), in celebration of the 11th Marine Gardening Day.
This public-private partnership includes expanding the sea forests in national coastal areas where sea deforestation is severe and conducting joint research to secure a quantitative database for international recognition of seaweed as part of the coastal blue carbon.
Blue carbon ecosystems, one of the most promising climate change mitigation mechanisms, can efficiently store large amounts of carbon in soil and sediment. The partnership is expected to bring official recognition of the importance and potential of blue carbon ecosystems for carbon offset.
The collaborative effort emphasizes preserving marine ecosystems with the aim to achieve greenhouse gas reduction and biodiversity enhancement. By promoting sustainable practices and investing in carbon offset initiatives, Hyundai Motor strives to combat climate change and to protect the natural environment. Read More
Shell Wins UK Supreme Court Case on 2011 Oil Spill Off Nigerian Coast
The UK Supreme Court on Wednesday ruled that it was too late for Nigerian claimants to file a lawsuit against two Shell l companies over an offshore oil leak from 2011, which they allege had a terrible long-term effect on the coastal region where they reside.
The lawsuit is related to the estimated 40,000 barrels of crude oil that leaked on December 20, 2011, as an oil ship was being loaded at Shell’s Bonga oil field, 120 kilometers off the southern Niger Delta coast of Nigeria. Shell had disputed the claimants’ allegations, saying the Bonga spill did not impact the shoreline. The court did not rule on the disputed facts as it was seeking only to decide the legal point about nuisance. Read More
Neste and PetroCard partnership
Neste today announced a new partnership with PetroCard, a premier commercial fleet fuel management solutions provider, to grow the accessibility of Neste MY Renewable Diesel™ in the Pacific Northwest region of the United States.
This partnership expands the availability of Neste MY Renewable Diesel to key locations in PetroCard’s network of commercial fuel stations in Oregon and offers commercial, state, and municipal fleet customers access to a lower-carbon alternative to fossil diesel.
“Partnering with PetroCard enables us to meet the growing demand for sustainable, lower-emission solutions from commercial and government entities in the region,” says Carrie Song, Vice President, Renewable Road Transport Americas at Neste. “There is no time to wait in the fight against climate change, and that is why we are working hard to bring more renewable diesel to the market to help cut greenhouse gas emissions from the transportation sector immediately.” Fossil diesel is a huge contributor to the GHG emissions in the U.S. In 2021, about 46.82 billion gallons of diesel fuel were consumed in the U.S. transportation sector, resulting in the emission of 472 million metric tons of carbon dioxide (CO2). In contrast, the use of Neste MY Renewable Diesel, made from sustainably-sourced, 100% renewable raw materials, results in up to 75%* reduced GHG emissions over its life cycle compared to fossil diesel and when used in its neat form. Since Neste MY Renewable Diesel has a similar chemical composition to fossil diesel, it can be used as a drop-in solution today without investments into new vehicle fleets, modifications to the engines or the fuel distribution infrastructure. This enables municipalities and businesses to achieve their sustainability goals and create a healthier planet for both current and future generations. Read More
BMW Group piloting Neste MY Renewable Diesel
BMW Group has set a target to reduce these emissions: By 2030, the company aims to reduce CO2 emissions by 40% across the entire life cycle of a vehicle. This ambitious target means that the entire life cycle of a vehicle needs to be carefully examined and potential areas for emissions savings need to be identified. Logistics is an area where such emissions and the ecological footprint can be effectively reduced when looking at the entire life cycle of the vehicles.
Pilot project with Neste MY Renewable Diesel
Technological innovations for reducing emissions in global logistics are much needed. With this in mind, the BMW Group had already kick-started multiple activities over the past years.
Since December 2022, one of the company’s initiatives in Germany has been a pilot project with Neste MY Renewable DieselTM. Four trucks belonging to the logistics service provider Guggemos (GV Trucknet) traveling 120 kilometers several times a day on the highway between Landau an der Isar and the BMW plant in Munich started using Neste’s renewable diesel. These trucks are responsible for just-in-time supplies of car parts from Landau to the main plant in Munich. In March 2023, the project was expanded to six more trucks being powered by Neste’s renewable diesel. These belong to the DB Schenker fleet and shuttle car parts from a warehouse from the BMW Group supply center in Eching to the production site in Munich, each round trip being approximately 40 kilometers. The fuel tanks of the trucks are filled with Neste MY Renewable Diesel, produced from 100% renewable raw materials, such as used cooking oil. By fueling Neste-produced renewable diesel, the greenhouse gas emissions of the transports by these trucks can be reduced by as much as 75 to 95 percent* over the life cycle of the fuel when compared to fossil diesel. Read More
Subsea7 awarded major contract
Subsea 7 announced the award of a contract for a two-phase subsea development. The first phase has been recorded in the backlog of the Subsea and Conventional business unit in the second quarter of 2023. The second phase, expected in 2024, remains subject to sanction by the client. The initial scope of work to be executed by Subsea7 comprises the engineering, procurement, construction, and installation of approximately 37 kilometres of infield flowlines, 47 kilometres of control umbilicals and associated subsea equipment in water depths of 2,000 metres. The contract also includes additional FEED studies and options to further extend the scope of work. Project management and engineering will be led by Subsea7’s local office and offshore activities relating to the initial scope are expected between Q2 2025 and Q3 2025. Read More
Kolskaya wind power plant (WPP)
The second stage of the Kolskaya wind power plant (WPP), which is world’s most powerful wind farm beyond the Arctic Circle, was launched today. Deputy Prime Minister of the Russian Federation Alexander Novak, Governor of the Murmansk region Andrey Chibis and Chief Executive Officer of PJSC LUKOIL Vadim Vorobyov took part in the launch ceremony. The plant was constructed by PJSC EL5-Energo (part of LUKOIL Group). The first 170 MW stage of the wind farm was commissioned on December 1, 2022. Following the launch of the second stage, the plant’s capacity reached 201 MW. The Kolskaya WPP features 57 turbines and occupies an area of 257 ha.
The target generation of the wind farm amounts to about 750 million kWh per year, which will result in preventing emission of up to 600 thousand tonnes of CO2 equivalent. The majority of the equipment installed at the WPP was made in Russia. Read More
Two dead at Mercedes plant
After the fatal shooting at the Mercedes plant in Sindelfingen near Stuttgart, police and prosecutors continue to puzzle over the reason for the crime. “The motive for the crime remains unclear,” a spokesman for the public prosecutor’s office said Friday. One excludes at present nothing, also no political background. The 53-year-old Turk allegedly shot two colleagues – all employees of the logistics company Rhenus – on Thursday morning. Police and prosecutors announced a written statement for the afternoon at the latest. The suspected shooter is in custody. The two dead are reportedly two 44-year-old men. A police spokesman did not provide information on the nationality of the victims when asked. On Monday, there will be a minute’s silence at the plant in Sindelfingen, according to a spokesman for the carmaker. There will also be a mourning room on site in memory of the victims, he added. The spokesman was initially unable to say what the exact schedule would be on Monday. Production in Hall 56, where the crime occurred, remains stopped for the time being. No work is to be done there up to and including Sunday. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $71.50 | Down |
| Crude Oil (Brent) | USD/bbl | $75.59 | Down |
| Bonny Light | USD/bbl | $75.00 | Down |
| Saharan Blend | USD/bbl | $75.49 | Down |
| Natural Gas | USD/MMBtu | $2.17 | – |
| OPEC basket 11/05/23 | USD/bbl | $76.68 | Up |
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 |
| Rig Count Overview & Summary Count |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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