London, December 10, 2024 (Oilandgaspress) –- Hundreds of solar panels at the giant 190-acre Porth Wen solar farm in Anglesey, North Wales – only built two years ago – were blown off their mountings, some ripped to shreds by Storm Darragh.
The site at Llanbadrig, in the north of the island which is owned by French power firm EDF Energy and powers up to 9,500 households, now needs significant repairs. .Elsewhere on the island of Anglesey, blades were sheared off a wind turbine which then reportedly caught fire. Read More
Equinor and its partners Vår Energi and Petoro expect the Johan Castberg field to come on stream in January/February 2025.
The Johan Castberg FPSO (floating production, storage and offloading vessel) was anchored on the field in the Barents Sea in September.
The FPSO has been hooked up to the subsea facility and the project is now in a final phase towards start-up. So far 14 wells have been drilled on the field, 12 are already ready for production, which is sufficient to bring the field to plateau production (220 000 barrels per day) Estimated recoverable volumes in Johan Castberg are between 450 to 650 million barrels of oil.. Read More
Porsche focuses on a trio of drive systems: fully electric cars, efficient plug-in hybrids and emotive combustion engines. In the fully electric segment, the sports car manufacturer has recently launched the Macan as its second all-electric model, alongside the Taycan.
Fittingly, the Volkswagen Group has just started a cross-brand communication campaign to share more details about electromobility. The Enter Electric! campaign aims to provide an in-depth look into the possibilities offered by electric cars. A central component for Porsche is the Charging at Porsche microsite. Here, readers will find information on topics such as charging at home, the Porsche Charging Planner and an overview of all the on-the-go charging options. .. Read More
Hyundai Motor Group (the Group) today announced key executive appointments for the year 2024. Through its latest appointments, the Group aims to strengthen its foundations for future growth and better prepare for uncertainties in the global business environment.
A total of 239 executives from the Group’s affiliates are included in the announcement, including 73 executives from Hyundai Motor Company, 43 executives from Kia Corporation, and 20 from Hyundai Mobis Co.
The Group has continued its performance-based approach to appointments to reflect the efforts of key individuals and capitalize on business momentum built throughout 2024.
Key Executive Appointments
Following the appointment of Jose Muñoz as the company’s first non-Korean CEO in November, Hyundai Motor Company has promoted several executives who were instrumental in the record-breaking performance of the Group’s affiliates. Seung Jo Lee is promoted to Executive Vice President, recognizing his exceptional contributions as Chief Finance Officer (CFO) and Chief Strategy Officer (CSO) of Hyundai Motor Company, including exceeding financial goals and establishing the company’s Hyundai Way 2030 strategy. . Read More
DS Automobiles was the first brand in the world to embed the ChatGPT artificial intelligence unit in its models as standard, enabling all its customers to turn every journey into a unique travel experience.
In December 2023, DS Automobiles had already been given a “Pioneer Award” by the German magazines Auto Bild and Computer Bild when it announced the project to integrate ChatGPT into the speech recognition in each of its models. Also, in October this year, the Brand was honoured with the bronze award for innovation from Auto Moto magazine.
Today, DS IRIS SYSTEM with integrated ChatGPT is available on DS 3, DS 4, DS 7 and soon on DS N°8, the Brand’s new flagship.. Read More
Opel makes top technologies accessible and affordable for everyone. This has also been recognised by the high-profile international AUTOBEST jury. The journalists from more than 30 countries have now awarded Opel and other Stellantis brands unanimously with the ‘SMARTBEST 2025’ for the introduction of ChatGPT1 in their models. The award recognises pioneering solutions for onboard connectivity in vehicles. Opel is currently rolling out ChatGPT1 in the new Opel Mokka as well as in many other models like the new Opel Grandland, the Opel Corsa, the Opel Astra, the Opel Astra Sports Tourer, the Opel Combo and the Opel Zafira. Furthermore, the Opel Combo and the Opel Vivaro light commercial vehicles are also available with the artificial intelligence chatbot. Read More
Bombardier announced that it has delivered the 200th Global 7500 business jet to a customer in December, a testament to the international and industry-wide success of this platform. The Global 7500 business jet has transformed business aviation with its refined design, unsurpassed performance and outstanding technological advancements. With a top speed of Mach 0.925 and a range of 7,700 nautical miles (14,260 km), the Global 7500 allows our customers to reach more essential destinations. The aircraft’s Smooth Flex Wing is like an in-air shock absorber, designed with a sophisticated slats and flap system that generates exceptional lift on takeoff and approach, maximizing aerodynamic efficiency and boosting performance while improving safety and offering the industry’s smoothest ride. It also reduces fuel burn, lowers emissions and produces excellent short-field and high-speed performance – the type of journey its customers strive for. And since its entry-into-service in December 2018, the Global 7500 business jet has proven to be the highest-performing business aircraft, boasting a fleet dispatch reliability of more than 99.8%. Read More
Bombardier Inc. confirmed that it has reached an agreement to settle its lawsuit against Honeywell International Inc. (“Honeywell”) that it initially filed in 2016 before the Superior Court of Québec. The settlement resolves the lawsuit and the pending request for appeal before the Supreme Court of Canada. The terms of the settlement agreement are confidential to both parties. Read More
Tata Group-owned Air India has officially disclosed orders it placed earlier for 10 A350 widebody and 90 single-aisle A320 Family aircraft. In addition, it has selected Airbus’ Flight Hour Services-Component (FHS-C) for its growing A350 fleet.
The latest aircraft order, which is already included in Airbus’ 2024 orderbook, comes on top of the 40 A350 and 210 A320 Family aircraft ordered by Air India in 2023. Air India’s total orderbook for Airbus aircraft now stands at 344 with six A350-900s having already been delivered.
The FHS-C services package will help optimise the performance and reliability of Air India’s growing A350 fleet. This contract confirms Airbus’ position as the largest A350 power-by-the-hour maintenance service provider in the world. Read More
NASA, on behalf of the National Oceanic and Atmospheric Administration (NOAA), has selected Southwest Research Institute of San Antonio to build the Next-Generation Space Weather Magnetometer for the Lagrange 1 Series project as a part of NOAA’s Space Weather Next program.
This cost-plus-fixed-fee contract is valued at approximately $26.1 million and includes the development of two magnetometer instruments. The anticipated period of performance is from December 2024 through January 2034. The work will take place at the awardee’s facility in San Antonio, NASA’s Goddard Space Flight Center in Maryland, and Kennedy Space Center in Florida.
The contract scope includes design, analysis, development, fabrication, integration, test, verification, and evaluation of the magnetometer instruments; launch support; supply and maintenance of ground support equipment; and support of post-launch mission operations at the NOAA Satellite Operations Facility. Read More
Abu Dhabi’s CYVN Holdings is going ahead with the takeover of British supercar maker McLaren’s automotive business.
The UAE capital’s investment firm signed on Monday a strategic partnership agreement with Bahrain’s sovereign wealth fund Mumtalakat to acquire the company’s automotive business, as well as a non-controlling stake in McLaren’s racing unit. Mumtalakat, a long-time investor in McLaren, raised its ownership stake in the British car maker to 100% early this year.
CYVN has plans to establish a smart mobility platform by investing in “global industry leaders”. Last year, CYVN pledged a $2.2 billion equity investment in Chinese electric-car maker Nio.
The completion of the deal is still subject to regulatory approvals and other conditions. Read more
The final round of the 2024 SUPER GT series took place at Suzuka circuit on December 8. A substitute for Round 5, which was postponed due to a typhoon earlier in the year, the #12 Marelli Impul Z (Kazuki Hiramine/Bertrand Baguette) secured the team’s best placing, fighting through the pack from a starting position of 15th to secure third-place on the podium.
Three Nissan Z NISMO GT500 cars achieved points in the round with the #3 Niterra Motul Z (Mitsunori Takaboshi/Atsushi Miyake) finishing in 7th and the #23 Motul Autech Z (Katsumasa Chiyo/Ronnie Quintarelli) taking 8th place. The result was enough for the #3 Niterra Motul Z to take out third in the overall 2024 standings. Read More
The Board of BYD Company Limited announced that the total production and sales volume of the Company for the month of November 2024 (Units) Production Volume Sales Volume Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $67.86 | Down |
| Crude Oil (Brent) | USD/bbl | $71.68 | Down |
| Bonny Light 10/12/24 CBN | USD/bbl | $73.94 | Down |
| Dubai | USD/bbl | $71.16 | Down |
| Natural Gas | USD/MMBtu | $3.13 | Down |
| Murban Crude | USD/bbl | $71.55 | Down |
| OPEC basket 09/12/24 | USD/bbl | $71.96 | Up |
Eight years ago, on this day, OPEC , Azerbaijan, Bahrain, Brunei Darussalam,Equatorial Guinea,Kazakhstan; Malaysia,Mexico, Sultanate of Oman, Russian Federation,; the Republic of Sudan; and the Republic of South Sudan, met in Vienna, Austria, to discuss the conditions of the global oil market and identify possible means to restore market stability.
These historic, constructive efforts resulted in the establishment of a unique platform to facilitate cooperation and dialogue among its participants – the Declaration of Cooperation (DoC). Notably, other non-OPEC oil producers attended the meeting in support of the initiative.
The resounding success met on 10 December came about following the achievement of two landmark milestones in the history of the global oil industry: the Algiers Accord, which was signed on 28 September 2016 in Algiers, Algeria, at the 170th (Extraordinary) Meeting of the OPEC Conference; and the ‘Vienna Agreement’ adopted on 30 November of the same year in Vienna, Austria, at the 171st (Ordinary) Meeting of the OPEC Conference. Read More
Baker Hughes Rig Count: U.S. +7 to 592 Canada -11 to 194
U.S. Rig Count is up 7 from last week to 589 with oil rigs up 5 to 482, gas rigs up 2 to 102 and miscellaneous rigs unchanged at 5.
Canada Rig Count is down 11 from last week to 194, with oil rigs down 10 to 124, gas rigs unchanged at 70 and miscellaneous rigs down 1 to 0.
International Rig Count is down 31 rigs from last month to 919 with land rigs down 14 to 712, offshore rigs down 17 to 207. International Rig Count is down 59 rigs from last year’s count of 978, with land rigs down 46, offshore rigs down 13.
The U.S. Offshore Rig Count is unchanged at 16, down 5 year-over-year.
The Worldwide Rig Count for October was 1,754, up 4 from the 1,751 counted in September 2024, and down 22, from the 1,776 counted in October 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 06 December 2024 | 589 | +7 |
| Canada | 06 December 2024 | 194 | -11 |
| International | November 2024 | 919 | -31 |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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