London, 08 August, 2023, (Oilandgaspress) : China’s imports and exports fell much faster than expected in July as weaker demand threatens recovery prospects in the world’s second-largest economy, heightening pressure for authorities to release fresh stimulus to steady growth.Imports dropped 12.4% in July year-on-year, customs data showed on Tuesday, missing a forecast fall of 5% in a Reuters poll and off a 6.8% decline in June. Meanwhile, exports contracted 14.5%, steeper than an expected 12.5% decline and the previous month’s 12.4% fall.(More)
Octopus Electric Vehicles, part of Octopus Energy Group, has launched a second hand leasing offering for electric cars – making the switch to electric driving the cheapest it has ever been. Octopus’ ‘Nearly New’ salary sacrifice offer makes EVs even more accessible to the mass market by considerably reducing costs. Drivers are able to access popular EV models like the Renault Zoe, Peugeot e-208 and Vauxhall Mokka-e for roughly £300 a month, including fuel, insurance and maintenance costs. Octopus has built on the success of its flagship salary sacrifice offer, which launched in 2021 and now works with more than 3,500 companies to boost their employee benefit package and help their staff go electric.
Like cycle-to-work but for cars, Octopus’ salary sacrifice helps drivers save 30-40% every month by paying through your gross salary. Octopus offers an easy all-in-one service, providing the use of an electric car, charger and discounted energy tariff.
Octopus is able to offer a wide range of electric cars under their second hand scheme – from the upper end to the more affordable side of the market. When you consider the total running costs, drivers can get a Tesla Model 3 – one of the most popular EVs in the UK – for half the price of the same model on a personal lease. In addition, monthly costs are more than 55% cheaper than leasing a BMW 3 Series.
All of the cars on offer are less than 2 years old and have been fully serviced. The offer opens up a new segment of the electric car market, making these new green and cheaper to run cars more affordable for those who may not have previously considered one. Read More
Japan’s crude oil imports from the United Arab Emirates amounted to 25.63 million barrels in June 2023, or 37.4 percent of total imports, the Natural Resources and Energy Agency of Japan’s Ministry of Economy, Trade and Industry said.
During June, Japan’s total crude oil imports were 68.5 million barrels, of which 66.7 million, or 97.3 percent, were provided by the UAE, Saudi Arabia, Kuwait, Qatar, and Oman Read More
A new study by Coast is uncovering EV charging station density to traditional gas stations in the U.S. The U.S. averages about 104 gas pumps per 1,000 road miles, compared to just 22 EV charging ports and as the popularity of electric vehicles rises, many may wonder how accessible charging stations are in their area.The study used data from the U.S. Department of Energy and the U.S. Census Bureau to compare EV charging port density to gas station pump density in U.S. states. State-by-state comparisons were found by positioning the number of EV charging opportunities and gas stations against roadway miles, vehicle registrations, and square miles. A density metric was created to highlight states with better EV charging density than gas station density, based on vehicle usage and charging/fueling accessibility, with assumptions for gas pump numbers from Enel X. Read More
EV Charging Stations vs. Gas Stations: Comparing Density in the U.S.The rise of electric vehicles (EVs) is bringing about a significant shift in the transportation landscape. From 2017 to 2021, the U.S. saw a 286% increase in EV registrations nationwide going from just over 377,000 to nearly 1.5 million. Additionally, the Bureau of Labor Statistics recently cited forecasts that project EV sales reaching 40% of total passenger car sales by 2030. As EV adoption continues to accelerate, one critical aspect that needs careful consideration is the accessibility and availability of EV charging stations.
Steps have been taken over the years to ensure a network of accessible charging stations is available for those who need it. From April 2020 to April 2023, alternative fueling stations are up nearly 90%, according to the Bureau of Transportation Statistics. While we’ve seen substantial increases regarding EV usage and charging accessibility in recent years, where those infrastructure improvements are happening is another question altogether.
That’s why the team at Coast used data from the U.S. Department of Energy and the U.S. Department of Transportation to explore the state of electric vehicle charging infrastructure in the U.S. We also compared it with the more well-established network of gas stations across the country to see how much further we have to go regarding EV charging access. By examining the differences in charging density and gas station density across the country, we can gain valuable insights into the progress, challenges, and potential future implications of transitioning to cleaner and more sustainable passenger vehicles. Read More
Pioneer Power Solutions, Inc. announced that it will provide an E-Bloc system and other related custom control and protection equipment to Rove, a full-service charging center operator in Southern California on a mission to make charging EVs fast, safe, and reliable.
Pioneer Power’s innovative E-Bloc will help Rove develop one of its first full-service EV charging centers, which will include 40 direct-current ultra-fast chargers (“DCFC”), capable of reaching speeds up to 350 kW – making a full charge possible in as little as 15 minutes. Rove plans to utilize renewable energy, integrating onsite solar panels and battery storage, supported by E-Bloc, to supplement the use of electricity from the grid during peak times and support more sustainable energy use. Rove’s centers will include onsite amenities like a fresh market, lounge, free Wi-Fi, and car wash. Future Rove centers will be located in Santa Ana, Corona, and Torrance, with plans to open 20 by 2026. Read More
Taiwan-based automotive design company Cruise10 introduced its XP e-Cab EV chassis for delivery trucks that brings a vertical collaboration business model for automotive makers and high-tech industry companies.Aiming at the global trend of reducing energy consumption and carbon emissions, this XP e-Cab EV chassis provides design benefits for delivery truck makers to develop low framework, high loading capacity, easy truck layout, smart cockpit, efficient battery pack usage, and diversified applications solutions for delivery service companies. Read More
Akiem, a leading European rolling stock leasing company, has ordered an additional 15 Vectron AC and Vectron MS locomotives from Siemens Mobility. The order was placed as part of a framework agreement for the purchase of locomotives that was signed in December 2021. Locomotives from this new call will be delivered between 2025 and 2027. Akiem previously ordered 20 Vectron locomotives from Siemens Mobility in December 2021 and an additional 65 units last August.The ordered locomotives have a maximum power of 6.4 megawatts and can be delivered with a top speed of either 160 or 200 km/h. They can be used for cross-border freight transport as well as fast passenger service in a number of European countries. Read More
Grid Solutions, an integral part of the GE Vernova portfolio of energy businesses, has signed a contract with Casa dos Ventos, Brazilian renewable energy company and protagonist in the country’s energy transition, to construct two 500 kV air-insulated substations (AIS) for the Serra do Tigre Wind Complex in the municipalities of Currais Novos and Sao Tome in the state of Rio Grande do Norte. The contract also includes the construction of a connection bay that will be installed in Santa Luzia, Paraiba. GE Vernova’s Grid Solutions business has a long history of substation expertise in Brazil with 26% of all grid-connected 230 kV and 500 kV Brazilian wind farms relying on its technology. The Serra do Tigre Wind Complex project marks Grid Solutions’ sixth wind project with Casa dos Ventos in the northeast since 2013. Both Grid Solutions’ substations will be energized by the end of 2024. The complex’s wind machinery will gradually be tested thereafter. Read More
U.K. government says French utility EDF’s proposed acquisition of General Electric’s nuclear steam-power business could raise some national security concerns and has ordered the companies to meet certain requirements.
“A risk to national security will arise because of the critical national security and defense capabilities relating to naval propulsion systems which are delivered through the GE Oil & Gas Marine & Industrial UK Limited and GE Steam Power Limited UK facility,” the government said late on Monday.
EDF Energy is set to acquire the business through its subsidiary Geast UK. The bid was cleared by the U.K.’s market regulator in May. Read More
Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China’s new energy vehicle market, announced that the Company delivered 34,134 vehicles in July 2023, representing an increase of 227.5% year over year and surpassing the 30,000 mark for the second consecutive month. The cumulative deliveries of Li Auto vehicles in 2023 reached 173,251 as of the end of July. As of July 31, 2023, the Company had 337 retail stores in 128 cities, as well as 323 servicing centers and Li Auto-authorized body and paint shops operating in 222 cities. Read More
Vestas has received a 50 MW order for a wind project to be located in the northwest of Spain. The order has been placed by Sinia Renovables, the investment arm of Banc Sabadell specialised in renewable power and climate transition assets. The contract includes the delivery of 11 V136-4.5 MW wind turbines, as well as a 25-year Active Output Management 4000 (AOM 4000) service agreement.
“It is critical for Sinia to work with trusted partners in our effort to keep deepening the decarbonisation of the Spanish economy. Sinia is proud to deepen our long-standing partnership with Vestas and acknowledges the crucial contribution Vestas has brought to our project”, said Xavier Gàsquez, Managing Director at Sinia Renovables.
“We would like to thank Sinia Renovables for their trust in Vestas’ technology and in our unmatched service experience. We are also excited to see how the diversity of our wind turbine portfolio continues to meet the different needs of our customers and increases our contribution to Spain’s energy transition”, says Agustín Sánchez Tembleque, Vestas General Manager for Spain and Portugal. Turbine delivery is expected to start in the second quarter of 2024. The project name is undisclosed. Upon commissioning, the project will prevent around 44,000 tonnes of CO2 from being emitted into the atmosphere per year. This is equivalent to removing 30,000 European passenger cars from the road every year. The project will also benefit from Vestas’ strong service and manufacturing footprint in Spain, where Vestas currently has 19 service centers and manufactures blades at its factory in Daimiel in Ciudad Real. Vestas has installed more than 5.1 GW of wind energy across more than 130 wind parks in Spain since installing the first turbine in 1991. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $81.47 | Down |
| Crude Oil (Brent) | USD/bbl | $83.75 | Down |
| Bonny Light | USD/bbl | $87.00 | Down |
| Saharan Blend | USD/bbl | $86.08 | Down |
| Natural Gas | USD/MMBtu | $2.73 | Up |
| OPEC basket 07/08/23 | USD/bbl | $88.25 | Up |
Baker Hughes Rig Count:
U.S. Rig Count is down 5 from last week to 659 with oil rigs down 4 to 525, gas rigs unchanged at 128 and miscellaneous rigs down 1 to 6.
Canada Rig Count is down 5 from last week at 188, with oil rigs down 3 to 118, gas rigs down 2 to 70.
| Region | Period | Rig Count | Change |
| U.S.A | 04 August 2023 | 659 | -5 |
| Canada | 04 August 2023 | 188 | -5 |
| International | July 2023 | 961 | +2 |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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