Top Energy/Automotive News As Reported; US funding for recycling batteries from consumer products
London, 13 June, 2023, (Oilandgaspress) : Goldman Sachs analysts slashed their oil price forecast by almost 10% on the back of whey they see as increasing supply and slower demand for crude. According to a report released late Sunday, the investment bank lowered its Brent outlook for December to $86 a barrel, down from $95 a barrel. In the same report, Goldman also revised down its WTI forecast for December from $89 per barrel to $81.
The revised projection marks Goldman’s third downward revision in six months. CNBC
New order for Proton Motor fuel cell power plant “HyShelter®”
Proton Motor Fuel Cell’s UK-based holding company, Proton Motor Power Systems plc , has announced a new order from the University of Stuttgart for a containerized fuel cell power plant with an output of up to 240 kW. The HyShelter® systemwill be integrated into a large industrial hydrogen research site and is expected to generate electricity and feed electricity into the grid from the second quarter of 2024. This project fits well with the company’s market approach of offering turnkey solutions to its customers. Proton Motor’s vision is to support customers in offering climate-neutral solutions for power and heat generation. In this context, the Proton motor portfolio addresses applications such as uninterruptible emergency power supply, peak shaving and off-grid charging infrastructure.. Read More
TOYOTA GAZOO Racing’s winning streak at the Le Mans 24 Hours came to a valiant end after an epic day-long battle for an historic victory in the centenary edition of the legendary French race.After five consecutive Le Mans wins, the World Champions took on the challenge of a record 16-car Hypercar field featuring competitors from Cadillac, Ferrari, Peugeot and Porsche. A sell-out 325,000 crowd witnessed an exceptionally close contest featuring drama and excitement until the very end. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $67.70 | Down |
| Crude Oil (Brent) | USD/bbl | $72.67 | Down |
| Bonny Light | USD/bbl | $71.86 | Down |
| Saharan Blend | USD/bbl | $72.35 | Down |
| Natural Gas | USD/MMBtu | $2.31 | Up |
| OPEC basket 12/06/23 | USD/bbl | $72.96 | Down |
Nigeria’s LNG Sales Down
Nigeria’s revenues from LNG exports declined in the first quarter of 2023 to the lowest in five quarters, due to security challenges and declining associated natural gas production at oilfields, Nigerian media reported on Monday, quoting government data and industry experts.
Between January and March this year, Nigeria’s earnings from liquefied natural gas exports slumped by 18% compared to the third quarter of 2022 and stood at $1.3 billion (622 billion Nigerian naira), per data from the National Bureau of Statistics (NBS) cited by local news outlet BusinessDay. This was the lowest quarterly income from LNG for Nigeria since the first quarter of 2022, when LNG prices and demand surged following the Russian invasion of Ukraine.
The Nigerian revenues, however, were down not only because of the recent lull in LNG markets. Issues with security in oil- and gas- producing areas and the lack of new drilling and investment in new fields are also taking their toll. Read More
Aker Solutions, Aker BP renew subsea supply pact
Aker Solutions and Aker BP have agreed to extend a frame agreement for the provision of Subsea Production Systems until December 31, 2028.
The original agreement, signed in June 2016, was valid for eight years.
The Agreement may cover assistance to Aker BP for feasibility studies and concept developments; front-end engineering and design; subsea development projects and services during project execution (engineering, procurement and construction).
The extension further supports Aker Solutions’ commitments to the Subsea Alliance, a project-execution agreement with Aker BP and Subsea 7 that enables operator and contractors to work as one integrated team toward cost-effective solutions for developing Aker BP’s subsea field portfolio.
“The extension of the frame agreement underscores our longstanding strategic partnership with Aker BP and is important to ensure long-term activity levels on the Norwegian Continental Shelf,” said Maria Peralta, executive vice president and head of Aker Solutions’ subsea business. The value of the work to be called off under the frame agreement will only be recognized by Aker Solutions as subsea order intake when each new project is called off. Read More
$192 Million to Advance Battery Recycling Technology
The U.S. Department of Energy (DOE) today announced more than $192 million in new funding for recycling batteries from consumer products, launching an advanced battery research and development (R&D) consortium, and the continuation of the Lithium-Ion Battery Recycling Prize, which began in 2019. With the demand for electric vehicles (EVs) and stationary energy storage projected to increase the lithium battery market by as much as ten-fold by 2030, it is essential to invest in sustainable, reduced-cost recycling of consumer batteries in support of a secure, resilient, and circular domestic supply chain for critical materials. Today’s announcement supports the Biden-Harris Administration’s goal to have EVs make up half of all vehicle sales in America by 2030 and builds on the nearly $3 billion announced to date from President Biden’s Bipartisan Infrastructure Law for EV and battery technologies. As of April 2023, more than 3.6 million plug-in electric vehicles have been sold in America, with more than half of those sold since President Biden took office. Battery costs have fallen more than 90% since 2008, and energy density and performance have increased rapidly. Read More
How Much Does A Lamborghini Cost?
Pricing for all the models includes the brand’s mandatory destination fee and the gas-guzzler tax.
Lamborghini LP 610-2 Huracan Evo RWD Coupe – $219,392
Lamborghini LP 610-2 Huracan Evo RWD Spyder – $240,666
Lamborghini LP 640-4 Huracan Evo Coupe – $272,522
Lamborghini LP 640-4 Huracan Evo Spyder – $299,171
Lamborghini LP 640-2 Huracan Tecnica – $244,795
Lamborghini LP 610-4 Huracan Sterrato – $278,972
Lamborghini LP 640-2 Huracan STO – $340,190
Lamborghini Urus S – $233,263
Lamborghini Urus Performante – $265,971
Lamborghini Aventador Ultimae – $1.6 Million (For Final Example)
Lamborghini Countach LPI 800-4 – $2.6 Million (est.)
Lamborghini Sian FKP 37 – $3.6 Million
Lamborghini Sian Roadster – $3.8 Million Read More
20th anniversary of Continental GT – the definitive grand tourer
Bentley Berlin is commemorating a milestone 20th year in the German capital – a landmark that also coincides with the 20th anniversary of the Bentley Continental GT. The opening of the new workshop at Motorwold Manufaktur celebrates two decades of supplying extraordinary cars with a unique display of Continental GT models. These examples represent all three generations of the ultimate grand tourer, available for Bentley customers and enthusiasts to view and enjoy.
The city centre site opened a new service area to mark its 20th year in Berlin, a facility that will be complemented in the future by a new, state-of-the-art showroom. This investment reflects strong first quarter results for Bentley in 2023, with operating profits of €216 million globally – up 27 per cent on the same period in 2022. The figure follows record yearly results in 2022, when operating profits of €708 million were up nearly €1 billion, compard to 2018.
First and second-generation Continental GTs from the Bentley Heritage Collection joined the most recent one in Berlin. The three Continental GT models on show at Bentley Berlin included a first generation, 2004 Coupe, which was arguably the first all-new Bentley since the original 3 Litre of 1919, with no components carried over from a previous generation. Alongside will be a 2017 Supersports, a name badge featuring on Bentley’s most extreme performance cars and first used on the 3 Litre Supersports in 1925. This third generation, Continental GT model is powered by Bentley’s iconic W12 engine, a 12-cylinder powerplant which will no longer be manufactured after April 2024. Read More
24 Hours of Le Mans
The most famous race car of the modern Bentley era, the 2003 Speed 8, made its return to Le Mans this weekend to take part in the centenary celebrations of the ultimate motorsport marathon – the 24 Hours of Le Mans. The dynamic demonstration of the highly popular fan-favourite precedes the return of a new Works Bentley to Le Mans, with a pair of Blower Continuation Series cars to compete at this year’s Le Mans Classic.
The very same car that won the race in 2003 – Speed 8 chassis 004/5 – took to the track on Saturday afternoon as part of a centenary parade. It was piloted by Guy Smith, the same driver who took the chequered flag twenty years ago, as the car turned a wheel at the circuit for the first time since. After being reunited with the car and completing two laps of the circuit, Guy commented:
“This car delivered Bentley’s first Le Mans victory since 1930, and became the springboard for my racing career, and so it’s incredibly special to me. While I’ve driven it a couple of times since 2003, this is the first time it’s been back to Le Mans and driving it here brought back so many memories and emotions. It feels exactly the same as it did when it crossed the line twenty years ago. Bentley is part of Le Mans, and Le Mans is part of Bentley, and it’s been an amazing weekend of celebrations of 100 years of history here.” Read More
Bugatti returned to Le Mans, showcasing the Bolide
Bugatti’s esteemed motorsport heritage is intrinsically entwined with the history of Le Mans 24 Hours. Over the course of many years – 10 decades in fact – the Molsheim luxury brand has realized unforgettable milestone moments at the motorsport event. And in perfect timing to celebrate 100 years of Le Mans 24 Hours, Bugatti this weekend delivered another magical moment to onlooking crowds.
On the hallowed asphalt on which so much history has been made, the Bugatti Bolide1 took a track lap at the Le Mans 24 Hours circuit on Saturday afternoon. As it did, an energizing atmosphere – meshing genuine surprise and excitement with absolute respect – ushered across the crowds as spectators were given not one but two defining moments: the Bolide presented in its full glory to the public for the very first time and Andy Wallace, a Le Mans winner of 1988, taking to the wheel of the track-only hyper sports car in a showstopping lap.
One of the world’s finest endurance racers, Andy, who has been a Pilote Officiel for Bugatti since 2011, is part of a very select group of people to have won the Triple Crown of Le Mans 24 Hours, 24 Hours of Daytona and the 12 Hours of Sebring. Such a peerless track record in racing is the perfect fit to oversee the Bolide’s first public outing. Speaking moments after driving the Bolide, Andy said: “To take to the wheel of the Bolide at this year’s Le Mans 24 Hours was a very special moment; the energy from the crowd and how they connected to the car is something that will stay with me for a lifetime. Read More
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