Top Energy/Automotive News; WTI and Brent continue to lose momentum
London, 20 November, 2023, (Oilandgaspress): – U.S. Rig Count is up 2 from last week to 618 with oil rigs up 6 to 500, gas rigs down 4 to 114 and miscellaneous rigs unchanged at 4. Canada Rig Count is down 3 from last week to 196, with oil rigs down 2 to 123, and gas rigs down 1 to 73.
(Reuters) – The United States and Indonesia on Monday will discuss how to advance a potential minerals partnership aimed a stimulating trade of the electric vehicle (EV) battery metal nickel, according to three people with direct knowledge of the conversations.
Next steps that could move the countries toward formal negotiations on the partnership will be discussed when Indonesian President Joko Widodo visits the White House for a meeting with U.S. President Joe Biden on Monday, according to one of the people. Read full article
Clean energy: why free access to scientific research is key
The DOE in October 2014 began mandating its 17 National Laboratories (NLs) to publish all its peer-reviewed scientific articles without a paywall, meaning they are open to everyone without requiring a subscription – and this provided a ‘rare natural experiment’ for examining the effect of such non-paywalled research. The study published in the open-access journal iScience describes these NLs as the crown jewels of energy innovation in the US.
Scientific articles made freely available are quoted 42% more in patents
The results: based on data from more than 300,000 scientific publications, the study found that articles subject to the open-access mandate were used on average 42% more in patents, although these articles were not cited more frequently by other academic articles.
The primary beneficiaries were small firms, with below-median patent portfolios, which tend to struggle more with exploiting knowledge from far and wide. These smaller firms cited NL research around 50% more compared to articles not subject to the DOE open-access mandate. Read full article
Horisont Energi and Koole Terminals B.V (Koole Terminals) have signed a non-binding memorandum of understanding (“MOU”) to continue their collaboration to explore the potential development of a European carbon capture and storage (CCS) value chain. It is the intention of the parties to develop and market Gismarvik, Norway’s largest planned CO2 import terminal, with volumes anticipated to flow from a new CO2 export terminal which Koole Terminals is exploring in Rotterdam and various other countries.
The MOU sets out the intention of the parties to develop CO2 import and export terminals in continental Europe, including a potential Koole Terminals CO2 terminal in Rotterdam as a part of a larger logistics solution for CO2 and clean ammonia. Koole Terminals is one of the leading operators in storage, processing, and logistics in Rotterdam and other European ports.
The potential new CO2 terminal to be developed in the Port of Rotterdam will be connected to the planned Delta Rhine Corridor CO2 pipeline, allowing volumes to be gathered from several places on the continent, and shipped to carbon storage terminals like the Gismarvik CO2 terminal in Norway. A potential Koole Terminals CO2 terminal in Rotterdam could have an intermediate CO2 storage capacity of up to 200.000 tonnes of CO2, accommodating transport of multi-millions of tons of CO2 to carbon storage annually.
The MOU envisages that Horisont Energi and Koole Terminals will continue to explore the joint marketing and development of a CO2 terminal at Gismarvik with volumes transported from Koole Terminals’ planned CO2 export terminal in Rotterdam and other European countries, as part of a European CCS value chain.
The intention for a Gismarvik CO2 terminal is to become an injection hub for CO2 before permanent storage at Horisont Energi’s or at other carbon storage locations on the Norwegian Continental Shelf. With an anticipated maximum annual capacity of 24 million tonnes, following design maturation and development, the Gismarvik CO2 terminal has the potential to function as intermedia storage for several CO2 storage projects. A fit-for-purpose CO2 injection solution and system design has already been developed for the offshore part. Horisont Energi has developed plans and started permitting for such a terminal covering offloading from ships, temporary storage, process, and compression prior to pipeline transport to subsea reservoirs for sequestration. Read full article
Horisont Energi publishes the Q3 report 2023.
Horisont Energi has made progress on its three major strategic project initiatives this quarter; the clean ammonia project Barents Blue, the carbon storage project Polaris, and the onshore CO2 terminal at Gismarvik.
“The activity level in the organization remains high and our projects are advancing successfully, supported by robust partnerships with industry players including Fertiberia, PGNiG Upstream Norway and E.ON. In the coming months, we will prioritize efforts including finalizing PGNiG Upstream Norway’s approval as the operator of the Polaris project in dialogue with Norwegian authorities, and we anticipate concept selection for Barents Blue in the first half of 2024,” says Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.
The company’s cash position of MNOK 243,3 is satisfactory, and the operations are funded until the end of 2024 at the current activity level.
Highlights Q3 2023:
Signed Letter of Intent (LOI) with PGNiG Upstream Norway to partner up as an operator in the CO2 licence Polaris (EXL003) located in the Barents Sea.
In September Statnett was granted a concession to build and operate a new 420kV power line from Blåfalli in Kvinnherad to Haugaland Industrial Park at Gismarvik, providing sufficient electric power to develop the planned CO2 terminal with an annual capacity up to 20-24 million tonnes.
Exploring possibilities for the Barents Blue project to facilitate delivery of blue power to support electricity demand in northern Norway.
The most likely scenario being an externally owned and operated power plant creating synergistic benefits for the entire industrial complex in Finnmark.
Net profit (loss) of MNOK (39.9) compared to MNOK (58.7) in Q2 as the company reduced its spending after the termination of the Errai project and significantly reduced costs for both the Barents Blue and CCS activities.
The cash position of MNOK 243,3 remains satisfactory and supports current activities going forward.
Horisont Energi will explore additional sourcing of capital to fund projects when key milestones have been successfully met for the projects.
LOI for sale of ammonia to VNG, 100’- 300’ tonnes/year.
LOI for sale of ammonia to Barents Naturgass 100’ tonnes/year.
MOU with Koole Terminals for the development of CCS opportunities.
Planned changes in the legal structure of HRGI. Horisont plans to establish three sub-holding companies by business area, which will own the project-specific companies. The approval of the new legal structure will be requested at an Extraordinary General Meeting later this year. Read full article
Neste Corporation issues a EUR 600 million green bond with 7.5-year maturity under its EMTN (Euro Medium Term Note) programme established on 6 March 2023 as supplemented by the supplement dated 9 November 2023, and will pay a fixed coupon of 3.875 per cent. Neste Corporation will apply for the listing of the bond on Euronext Dublin.
The proceeds from the issue will be applied for Eligible Projects and Assets as set out in Neste Corporation’s Green Finance Framework. Barclays Bank Ireland PLC, Citigroup Global Markets Limited, Credit Agricole Corporate and Investment Bank, OP Corporate Bank plc and Skandinaviska Enskilda Banken AB (publ) acted as joint lead managers for the transaction. Read full article
Locus Bio-Energy’s AssurEOR STIM® biosurfactant technology has been certified to reduce the carbon intensity and boost production of crude oil and natural gas operations. The EOR technology will allow oil and gas companies, as well as their clients—such as airlines, cruise lines, utilities, companies that produce or use plastic, and any entity relying on trucking and shipping to get products to market—to accelerate the achievement of their decarbonization goals and produce more with less resources. Read full article
The retrofit products from the BMW M Performance Parts program not only enhance numerous current BMW models but also provide an additional touch of motorsport feeling to the high-performance sports cars of the BMW M GmbH. Among the particularly notable examples of technology transferred directly from the racetrack to the road are the centrelock wheels, available for selected high-performance automobiles. Design and functionality make these lightweight forged wheels absolute highlights in the diverse range of BMW M Performance Parts.
With their optimized weight, emotionally charged design, and technology adapted from motorsport connecting to the wheel bearing, the centrelock wheels emphasize the high-performance-oriented character of the vehicles equipped with them. In the case of the special edition BMW 3.0 CSL, presented on the occasion of the 50th anniversary of BMW M GmbH and sold in a limited edition of 50 units, they are part of the specifically tuned racetrack performance chassis technology. Currently, BMW M Performance centrelock wheels are offered in the Original BMW Accessories program for the BMW M2 (combined fuel consumption: 9.9 – 9.6 l/100 km; combined CO2 emissions: 223 – 218 g/km according to WLTP), the BMW M3 Touring Competition with M xDrive (combined fuel consumption: 10.4 – 10.1 l/100 km; combined CO2 emissions: 235 – 229 g/km according to WLTP), as well as for all model variants of the BMW M3 Sedan, BMW M4 Coupe, and BMW M4 Convertible. Read More
The all-new Mercedes-AMG GT Coupé (WLTP: combined fuel consumption: 14.1 l/100 km; combined CO₂ emissions: 319 g/km) blasts through the desert, stunning unsuspecting onlookers. It sends a clear message that the sky is the limit for the performance luxury brand from Affalterbach. The new headline film reaches beyond the physical attributes of supreme sports cars to express the passion and emotion of the AMG brand, shared by countless enthusiasts around the globe. It is a powerful climax to the multifaceted SO AMG campaign that began in August with the world premiere of the all-new AMG GT Coupé. Echoing themes from the film, the campaign reaches a memorable conclusion at the Speedvegas track in the desert on the outskirts of Las Vegas. Here, the event facility “Speed City” was purpose-built by Mercedes-AMG together with Swiss luxury watchmaker IWC Schaffhausen as the latest collaboration in a relationship spanning nearly 20 years. It provides the setting for a breathtaking drone show starring Mercedes-AMG PETRONAS F1 Team drivers Lewis Hamilton and George Russell behind the wheel of two Mercedes-AMG GT 63 4MATIC+ Coupés.
Speed City also provides the perfect setting for a celebration to mark the return of Formula OneTM to Las Vegas after an absence of 40 years. In the run-up to the race weekend, enthusiasts can savour a special Driving Experience with the AMG Driving Academy in fleet of the latest AMG models.
“The new Mercedes-AMG GT is a remarkable driving machine. But it is so much more than that. First and foremost, it inspires emotions – whether that’s making your heart beat faster or putting a smile on your face. The SO AMG film encapsulates those feelings and sets the stage perfectly for the campaign’s grand finale at Speed City. Not only are we putting on a thrilling show with IWC, we are also hosting the World’s Fastest Family for an unforgettable driving experience with amazing products. And given our brand’s proud motorsport heritage, it is a fitting way to celebrate the return of Formula One to Las Vegas.” Michael Schiebe, Chairman of the Management Board of Mercedes‑AMG GmbH Read More
Golar LNG Limited announced that the FLNG Gimi departed Singapore’s Seatrium Shipyard , November 19, 2023. FLNG Gimi is now sailing under its own propulsion, supported by an escort tug, toward BP’s purpose-built Greater Tortue Ahmeyim (“GTA”) hub offshore Mauritania and Senegal. The voyage is expected to take around 60 days, including refuelling stops in Mauritius prior to rounding the Cape of Good Hope and in Namibia prior to its arrival. Upon arrival, FLNG Gimi will notify BP that it is ready to be moored and connected to the hub, which is expected to trigger the start of contractual cash flows under the 20-year Lease and Operate Agreement on the GTA field.
Golar CEO Karl-Fredrik Staubo commented: “Golar is pleased to complete conversion of the FLNG Gimi. We would like to thank Seatrium, Black and Veatch and other suppliers for another successful FLNG delivery. With Gimi soon on site for start-up of operations Golar will double its operating fleet of FLNGs and bring total installed liquefaction capacity up to 5.1mtpa. We look forward to having FLNG Gimi in operation, and to continued long term cooperation with BP, Kosmos and the national oil and gas companies of Mauritania and Senegal. As the leading, independent owner and operator of FLNG units globally, we are committed to enabling monetization of attractive proven gas fields through our market leading operational track record, attractive capex/ton of liquefaction capacity and amongst the industry’s most efficient emissions/ton produced LNG.” Read More
Saab has received an order from a Government of a Western country for a number of defence systems and equipment. The order value is approximately SEK 4.3 billion with deliveries planned 2025-2027.
The order includes systems and equipment from Saab’s business areas Dynamics and Surveillance.
“We are proud to be able to contribute to our customers’ safety and we continue to see a great interest in our world leading products and solutions,” says Saab’s President and CEO Micael Johansson. Due to the nature of the industry, circumstances concerning the customer and national security interests, no further information regarding this order or the customer will be provided. Read More
Europe is leading the charge in vehicle electrification, but a significant challenge remains: bridging the crucial charging gap for a seamless transition to electric vehicles (EVs). At FreeWire, we’re closing this gap with our innovative ultrafast charging technology, designed for customers eager to be part of this electrifying journey. Dive into our latest installation story from the Netherlands and see how we’re powering the future of EV charging across Europe and beyond.
The Netherlands is one of the leading countries in the world in terms of EVs. Currently, the Netherlands has an EV sales penetration rate of 37% – more than double the global average of 18%. By 2030, it aims to only sell emission-free vehicles. The Netherlands ranks fourth highest in Europe for EV adoption, after Norway, Iceland, and Sweden. The Dutch government is committed to accelerating the adoption of EVs and has set a goal of having one million EVs on the road by 2025.
However, the country’s public charging infrastructure is still lagging behind the growing demand for EVs. To address this challenge, the Dutch government is investing heavily in the installation of fast EV chargers. In 2021, the government announced a €250 million investment in public charging stations. Read More
UK Companies are paying 5 times more for electricity and gas compared to US companies.
Speaking at the Chemical Industries Association (CIA) annual dinner at the Grosvenor House Hotel last night, CIA President Tom Crotty of INEOS took the government to task for its lack of a coherent energy policy and the disincentives to investment that are leading to totally uncompetitive energy prices and a growing reliance on imported gas.
“Why are we in the UK stuck with a complete lack of energy policy.” Asked Crotty. “How irresponsible is that? The rest of the world is encouraging local oil and gas production, while we destroy ours through high North Sea taxes and disincentives, making us totally reliant on overseas supplies and losing billions in potential revenue.”
INEOS which runs the Forties Pipeline system in the North Sea was cited by Crotty as an example of the decline.
“The Forties Pipeline System moves 40% of the UK’s oil from the North Sea through Grangemouth where it is processed for distribution throughout the UK.” He said: “Oil flows through the system have declined by a dramatic 40%, meaning that the country is becoming ever more reliant on imported oil and gas.
It puts UK consumers at the mercy of foreign producers and causes massive volatility in prices, pushing yet more people into fuel poverty. To give you a feel for the impact of this, if you look at yesterday’s energy prices, UK gas was priced at $14.6/mmBtu while the US was at $3.1/mmBtu that’s a 5 times multiple. Electricity was €111/MWh in the UK but only €20 in the US, a 5.5 times multiple. On top of that, we have a carbon price at €79/t.” Read More
Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a sizeable contract by Shell for the decommissioning of subsea infrastructure associated with the FPSO Fluminense in the Bijupirá and Salema fields of the Campos Basin, at 700m water depth.
Subsea7’s scope includes the disconnection, recovery, and disposal of 10 flexible risers, three umbilicals and nine mooring lines. Offshore works are planned to start in December 2023. Yann Cottart, Subsea7 Brazil Vice-President, said: “Twenty years ago, Subsea7 installed the flexibles and umbilicals for Shell’s Bijupirá and Salema fields and, two decades later, we’re proud to be one of Shell’s chosen contractors to take part in the completion of this field’s life cycle.” Read More
|Oil and Gas Blends||Units||Oil Price US$/bbl||Change|
|Crude Oil (WTI)||USD/bbl||$77.42||Down|
|Crude Oil (Brent)||USD/bbl||$82.28||Down|
|OPEC basket 17/11/23||USD/bbl||$81.08||Down|
Aramco has successfully produced the first unconventional tight gas from its South Ghawar operational area two months ahead of schedule. This development supports Aramco’s strategy to increase gas production by more than half, over 2021 levels, through 2030, subject to domestic demand.
Commissioned facilities at South Ghawar have a 300 million standard cubic feet per day (scfd) of raw gas processing capacity and 38,000 barrels per day (bpd) of condensate processing capacity. In response to growing demand for gas, the company will continue its work to more than double the overall processing capacity in order to achieve South Ghawar’s strategic goal of delivering 750 million scfd of raw gas in the near future. Read full article
Saudi Arabia has struck gas at two fields in the Empty Quarter, Reuters reported, citing a statement from the Saudi energy ministry.
“Natural gas was also discovered in five reservoirs in previously discovered fields,” the Saudi Press Agency also said, citing Energy Minister Abdulaziz bin Salman.
At the Al-Hiran field, gas flowed at a rate of 30 million cubic feet daily. At the Al-Mahakik field, the gas flow was smaller, at 0.85 million cubic feet daily.
Arab News reported, meanwhile, that at one of the new gas discoveries at producing fields gas flowed at 46 million cubic feet daily.
The report noted that the new discoveries will go some way towards meeting the country’s objective to increase its natural gas production by more than 50% from 2021 levels by 2030 and cover domestic demand for the fuel. Read full article
Baker Hughes Rig Count: U.S. +2 to 618 Canada -3 to 196
U.S. Rig Count is up 2 from last week to 618 with oil rigs up 6 to 500, gas rigs down 4 to 114 and miscellaneous rigs unchanged at 4.
Canada Rig Count is down 3 from last week to 196, with oil rigs down 2 to 123, and gas rigs down 1 to 73.
International Rig Count is up 22 rigs from last month to 962 with land rigs up 27 to 743, offshore rigs down 5 to 219.
|U.S.A||17 November 2023||618||+2|
|Canada||17 November 2023||196||-3|
Open to everybody – collectors, connoisseurs, compulsive buyers or just casual browsers – “the Originals Renault store” includes a range of options to help visitors find their favourite products.
The Originals website can be accessed via the following link: https://theoriginals-store.renault.com/
The website is ready for the festive season, with enhanced functions, a simplified ordering process, secure payment and international delivery. It is available in six languages (English, French, German, Spanish, Italian and Portuguese) and is able to ship worldwide.
In just three years, the website has increased sales by over 300%.
Since the beginning of 2023,“the Originals Renault store” has taken orders from customers from all over the world (almost 50 countries) with an average basket value of €68. The wide range of merchandising includes almost 400 items, ranging from scale models to clothing, children’s toys, skateboards and special collections for specific vehicles or themes, such as tennis or the new rnlt© range.
All of the products are developed as part of an exclusive collaboration with the brand’s designers, who see it as a great way to channel their creative energy. Read More
Mitsubishi Heavy Industries, Ltd. (MHI) and Indonesia’s Institut Teknologi Bandung (ITB) today announced an extension of their joint R&D partnership to support the development of cleaner fuel firing, building on research conducted last year on ammonia-fired power generation using gas turbines with further analyses and trials.The collaboration seeks to propel MHI and its power solutions brand, Mitsubishi Power, toward the integration of the proven technologies in its H-25 gas turbine and to facilitate the realization of ammonia co-firing in Indonesia. It will include developing equipment and testing the combustion of these fuels for the purpose of power generation. Read More
Mitsubishi Heavy Industries, Ltd. (MHI) announced that it has invested in Element Energy (Element, Headquarters: California, USA) that is developing the cutting-edge energy storage technology. The investment has been executed through Mitsubishi Heavy Industries America, Inc. (MHIA). MHI and Element also signed a memorandum of understanding (MOU) to develop affordable power system solutions and business model for Behind the Meter applications.
Founded in 2019 in Silicon Valley, USA, Element has developed proprietary hardware and software algorithms applicable to both 1st life and 2nd life batteries to improve visualization, battery safety and efficiency. The technology is being validated on large scale with a pilot project in the United States and it is expected to be commissioned in early 2024. Element will collect the necessary data through a pilot project, obtain UL certification standards (UL9540,1974), and proceed to commercialize the product.
MHI Group is committed to building a business that contributes to realizing a decarbonized society while investing in and collaborating with various partners with innovative technologies. This investment will strengthen MHI’s technology and supply chain. Going forward, MHI intends to provide affordable power system solutions to Behind the Meter customers worldwide by optimizing energy utilization and contribute to solving the problem of energy price rise and volatility. Read More
Saudi Aramco has discovered two new natural gas fields in the Empty Quarter region, the state news agency quoted Saudi energy minister Prince Abdulaziz bin Salman as saying on Sunday.
The discovery of the Al-Hiran gas field was confirmed after gas flowed at a rate of 30 million standard cubic feet per day, and 1,600 barrels of condensate daily. The Al-Mahakik gas field was confirmed after gas flowed from it at a rate of 0.85 million standard cubic feet, the agency said.
“Natural gas was also discovered in five reservoirs in previously discovered fields,” the agency added, citing the minister.
Other discoveries were also announced in fields in the Eastern Province, according to the agency.
Aramco, overwhelmingly an oil producer, aims to boost its gas production by 50% by 2030 from 2021 levels.
It said in late September that it agreed to acquire a strategic minority stake in liquefied natural gas (LNG) company MidOcean Energy for $500 million, with an option to increase the stake – part of its push into natural gas. Read More
The UAE’s Utico has partnered with Yellow Door Energy (YDE) to develop a solar plant and a battery energy storage system in Umm Al Quwain, which will generate 4,700 megawatt-hours of clean energy annually.
The companies signed a Memorandum of Understanding (MoU) at the recently concluded Water, Energy, Technology, and Environment (WETEX) exhibition in Dubai, where they announced the solar plant will remove 82,000 metric tonnes of carbon dioxide equivalent from the environment during the system’s lifetime.
The solar power plant announcement comes close on the heels of Utico partnering with Shandong Tianyi Chemical Corporation of China for a circular economy project to extract industrial chemicals from brine, a first of its kind in the GCC in recycling waste seawater from desalination plants. Read More
Honda is showcasing a prototype of its next-generation Hydrogen Fuel Cell Stack Module at the 2023 European Hydrogen Week as the latest demonstration of its pledge to achieving carbon neutrality across all global operations by 2050. On display at the Brussels Expo from 20-23 November, the compact, yet powerful concept has been designed to offer exceptional durability and versatility across a variety of uses – including within fuel cell electric (FCEV) and commercial vehicles, construction machinery, and in stationary power generation. Honda offers a vision of collaborating with business and technology partners to expand applications of the fuel cell system and encourages all potential collaboration partners to visit stand I90 in Hall 7 during the Hydrogen Week Expo. Honda is currently working with a number of companies, who are developing products in the outlined application areas, to aide with the packaging phase and integration of the fuel cell system in development programmes. This is in anticipation of commercial sales of the fuel cell system commencing by the mid-2020’s. Read More
Trina Storage announced that it has delivered a fully integrated 50MWh energy storage system for a hybrid fishery-solar-storage project in Tianmen, Hubei province, China. The project, now successfully connected to the grid, has a PV installed capacity of 400MW and is further supported by this energy storage system.
The project is equipped with a 1500 VDC energy storage system, comprising ten 2.5MW/5MWh Trina Storage battery cabinets. The storage units have robust maintenance systems utilizing precision thermal management technology for uniform heat dissipation at rack level, leading to enhanced battery lifetime. Read More
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.
Information posted is accurate at the time of posting, but may be superseded by subsequent press releases
Please email us your industry related news for publication info@OilAndGasPress.com
Follow us: @OilAndGasPress on Twitter |
Oil and gas press covers, Energy Monitor, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar, Marine, Aviation, Fuel, Hydrogen, Electric ,EV, Gas,