London, 28 June, 2023, (Oilandgaspress) : Oil prices fell on Tuesday morning as markets continued to focus on sluggish U.S. demand.Europe imported 170 billion cubic meters of LNG in 2022, up 57% year-on-year. Aramco is reportedly bullish on oil markets for the rest of 2023 as it sees demand from major importers China and India remaining strong despite an expected global downturn. West Texas Intermediate (WTI) for August delivery increased by 0.21 U.S. dollars, or 0.30 percent, to settle at 69.37 dollars a barrel on the New York Mercantile Exchange. Brent crude for August delivery picked up 0.33 dollars, or 0.45 percent, to settle at 74.18 dollars a barrel on the London ICE Futures Exchange.
SLB, Baker Hughes awarded drilling contract in Zimbabwe
Invictus announced that following the completion of an extensive tendering process, it has awarded contracts for well services to several leading international oilfield service providers for the drilling of the Mukuyu-2 well. SLB (previously known as Schlumberger) has been awarded the open-hole wireline logging contract, Geolog International has been awarded the mudlogging contract, while Baker Hughes in combination with NOV have been awarded the directional drilling and logging while drilling (LWD) contracts. The remainder of the services, including cementing, drilling fluids & mud engineering, tubular running, fishing & abandonment, liner hangers, reservoir technical services and project management have been retained by Baker Hughes. Preparation of tools and services will commence for mobilisation of outstanding equipment to Zimbabwe. Maintenance of equipment retained at the Company’s supply base in Harare from the previous drilling campaign has commenced in preparation for mobilisation, following completion of the move of Rig 202 to the Mukuyu-2 wellsite. Exalo Rig 202 maintenance completed ahead of rig move to Mukuyu-2 The planned maintenance program for Exalo’s Rig 202 has been completed in preparation for the rig move to the Mukuyu-2 wellsite. Read More
Former Audi boss Rupert Stadler was convicted of fraud Tuesday in connection with the automaker’s diesel emissions scandal, making him the highest-ranking executive found guilty over cars that cheated on emissions tests with the help of illegal software. A German court handed Stadler a suspended prison sentence of 21 months and ordered him to pay a fine of 1.1 million euros ($1.2 million), some of which will go to charitable groups. The sentence resulted from an agreement between his lawyers, the judge and prosecutors after he pleaded guilty last month. Read More
Opel has new Astra models that make the holiday trip comfortable, quick and, above all, locally emissions-free. Especially the dynamic plug-in hybrids including the top-of-the-range Astra GSe (fuel consumption according to WLTP1: 1.2-1.1 l/100 km, CO2 emissions 26-25 g/km; combined) and the new Astra Electric. With the all-electric variant of the compact class bestseller, up to 418 kilometres can be covered without stopping to recharge (WLTP2). For longer journeys, Opel offers practical charging accessories. There are also many more tailor-made Opel Original Accessories for making the Astra and Co. even more individual and flexible. The range extends from practical transport and carrier systems to comfort and safety equipment to styling elements that are guaranteed to catch the eye.
Astra Electric and plug-in hybrids: Charging accessories for every occasion
Opel models such as the battery-electric Astra Electric, Mokka Electric or Corsa Electric, and the plug-in hybrid variants of the Astra and Grandland promise performance and driving enjoyment with responsibility – with maximum torque from a standstill and locally emissions-free. The charging-offer includes the Mode 3 charging cable and matching storage bag as well as the Universal Charger with three adapters in the set: CEE-16 plug (3-phase) for industrial sockets (AC); type EF plug for household sockets; and type 2 plug for public charging stations. Drivers of electrified Opel model variants are thus well prepared for all charging situations, even when travelling.
Practical, safe and tidy: Transport and carrier systems from Opel
The Astra Sports Tourer Hybrid already offers lots of room for luggage, with up to 1,553 litres of storage volume. But with the various Opel roof boxes as well as bike carriers from Opel partner Thule, Astra customers can enjoy extra luggage space. Sports equipment can be loaded comfortably, cleanly and, above all, safely. Trailers can be attached to the removable tow-hook if even more space is needed. The electrical equipment required for towing is also available, of course.
In addition, there is a practical luggage compartment tray. With its high, stable edge and anti-slip coating, the tray not only protects against dirt and moisture, but also keeps the boot tidy. And with the load compartment partition grille, luggage or pets travel safely too. Load-sill mats offer further protection against scratches during loading/unloading. Protective foils do the same for the doors, while front and rear mud-guards protect the paint from objects thrown up by the wheels. Read More
Porsche AG has signed a syndicated revolving credit facility of €2.5 billion. In total 21 banks from Europe, the Americas, and Asia have taken part in the transaction and will form the strategic core banking group in the future. The credit facility has a term of five years with two one-year extension options. There are currently no plans to draw the credit line as its sole purpose is to further strengthen Porsche’s liquidity position. In line with Porsche’s strategy, a sustainability component has been integrated into the credit line. The financing costs are linked to the development of the share of all-electric vehicles in relation to total deliveries.
The syndication process was supplemented by a dialogue between the participating banks and the company’s sustainability experts, who explained in detail the strategy and sustainable transformation of Porsche. In 2030, Porsche intends to deliver more than 80% of new vehicles worldwide as all-electric. Read More
Porsche, MHP and VfB Stuttgart AG sign position paper
Porsche AG and its subsidiary MHP – a management and IT consultancy – intend entering a long-term partnership with VfB Stuttgart. The parties today signed a position paper for a collaboration in the sponsoring sector.Porsche is therefore planning to become the official partner of the club’s junior football section and the football academy through its “Turbo for Talents” programme designed to foster young, up-and-coming sportsmen and women. The “Management- und IT-Beratung MHP” on the other hand shall receive the naming rights for the stadium. The company would also like to become the team and fair play partner of VfB Stuttgart – including in the areas of CSR, women’s football, academy, track and field athletics and eSport. In addition to the sponsoring packages, VfB and Porsche are discussing a possible shareholding of Porsche in the VfB Stuttgart AG. Read More
Things To Know About the All-New 2024 Toyota Tacoma. The cool, agile and powerful fourth-generation mid-size pickup truck is revved up and ready to go places and take passengers on a journey like never before. The more rugged the road, the better for this truck that packs a dynamic punch. From its design to performance to technology and everything in between, the go-anywhere truck is entering a new era, with innovative updates and advancements across the board.Ramped-Up Powertrains Designed, assembled and manufactured for North America, the all-new Tacoma boasts powerful acceleration speeds. Perfect for drivers who get a rush from pushing the gas pedal and taking off, the Tacoma comes standard with the i-FORCE turbocharged 2.4-liter four-cylinder engine, which produces up to 278 horsepower and 317 lb.-ft. of torque. The multipurpose vehicle will come in eight unique grades: SR, SR5, TRD PreRunner, TRD Sport, TRD Off-Road, Limited, TRD Pro and Trailhunter, the latter being a new factory-developed overlanding rig built from the ground up with the latest integrated off-road equipment. The Trailhunter is rugged and capable of delivering the handling and maneuvering that off-road enthusiasts enjoy and expect. Read More
McDermott announces the release of its 2022 Sustainability Report. Alongside its customers and employees, McDermott incorporates sustainability and safety into its daily operations. This report demonstrates the company’s commitment to sustainable practices and progress in strategy, governance, climate risk management, strategic partnerships, and reporting. The data and information in the report also represent the company’s progress in developing sustainable, low-carbon solutions by combining innovative strategies with environmentally and socially responsible practices.
“As our customers set ESG targets and work to meet and exceed their stakeholder expectations, they increasingly rely on McDermott for innovative methods and low-carbon solutions leveraging our more than 100 years of complex project experience,” said Michael McKelvy, McDermott’s President and CEO. “With our customers, we are advancing global decarbonization through low-emissions options across our engineering, procurement and construction operations.”
Key highlights in the report include McDermott’s proactive approach to managing climate risk. The company recognizes the significance of climate change and ESG matters and is taking action to minimize its carbon footprint and the environmental impact of projects it designs and builds for customers. McDermott also expanded its partnerships and collaborations to draw on cross-functional expertise to support customers navigating the energy transition. In 2022, the company achieved industry-leading safety performance, met local content targets ahead of schedule, enhanced human rights due diligence across operations, and improved local communities through social investment programs. Read More
Bio-attributed PVC is making its way in the construction sector. This year, window profile producer Kömmerling will use INEOS Inovyn’s BIOVYNTM – the world’s first commercial PVC made of renewable feedstock – in renovation and new construction projects across the Netherlands. The first installations are expected in June 2023. The first project, will renovate 19 houses to turn them into net-zero-energy social housing*. It will be the first construction project in the world to use certified bio-attributed PVC window frames. “BIOVYNTM’s unique properties have spoken to yet another sector where more sustainable solutions are required to reduce CO2 emissions,” Inna Jeschke, Business Unit Manager Polymers, explains. “Our product is already trusted by some of the world’s most famous consumer brands, and we are very proud to count Kömmerling amongst them.” INEOS Inovyn’s BIOVYNTM brings a carbon footprint reduction of over 90% compared to traditional PVC without compromising on quality and performance. “We are proud of this project. It is a first in the industry and we consider it an important step in the development of sustainable building materials. This innovation already saves around 6,000 kilograms of CO2 in the first project,” says Jelmer Bijlsma, Manager for Sustainability and Innovation at Kömmerling NL. Read More
Toyota Mobility Foundation launches a three-year Sustainable Cities Challenge
The Toyota Mobility Foundation, in partnership with Challenge Works and World Resources Institute, has launched a $9 million global challenge to help cities adapt to the future, with the potential to transform the lives of millions around the world.
As cities grow and evolve, the challenges of moving people and goods in reliable, efficient, and inclusive ways have never been more essential. At the same time, opportunities to apply advances in transport modes, infrastructure design, operations, energy options, and connected data systems have never been more promising.
The Sustainable Cities Challenge aims to improve the lives of people by increasing access to jobs, education and other essential services. It will bring cities and innovators together to implement mobility solutions that could reduce carbon, improve accessibility, and use data to build resilient transport systems.
Ryan Klem, Director of Programs at the Toyota Mobility Foundation, said: “Our experience over the past decade has underscored the importance of the local city’s buy-in and engagement with our activities. Throughout the Sustainable Cities Challenge, we are looking to come alongside cities to find innovative solutions in the areas they identify as critical to develop a scalable model for the cities of tomorrow.” Read More
Electric cars cause twice as much stress to roads as petrol equivalents, which could increase the number of potholes amid a growing crisis in Britain, according to a survey. A study led by the University of Leeds found the average electric car puts 2.24 times more stress on roads than a similar petrol vehicle – and 1.95 more than a diesel. Larger electric vehicles can cause up to 2.32 times more damage to roads.
The stress on roads causes greater movement of asphalt which can lead to small cracks and eventually potholes.
This research, analysed by The Telegraph, comes as the UK suffers a pothole crisis, with an estimated £12 billion needed to fill them. Reports say half the number of potholes have been filled compared to a decade ago. Read More
U.S. has sustained 357 weather and climate disasters since 1980 where overall damages/costs reached or exceeded $1 billion (including CPI adjustment to 2023). The total cost of these 357 events exceeds $2.540 trillion.
In 2023 (as of June 8), there have been 9 confirmed weather/climate disaster events with losses exceeding $1 billion each to affect the United States. These events included 1 flooding event, 7 severe storm events, and 1 winter storm event. Overall, these events resulted in the deaths of 99 people and had significant economic effects on the areas impacted. The 1980–2022 annual average is 8.1 events (CPI-adjusted); the annual average for the most recent 5 years (2018–2022) is 18.0 events (CPI-adjusted). These costs include: physical damage to residential, commercial, and municipal buildings; material assets (content) within buildings; time element losses such as business interruption or loss of living quarters; damage to vehicles and boats; public assets including roads, bridges, levees; electrical infrastructure and offshore energy platforms; agricultural assets including crops, livestock, and commercial timber; and wildfire suppression costs, among others. However, these disaster costs do not take into account losses to: natural capital or environmental degradation; mental or physical healthcare related costs, the value of a statistical life (VSL); or supply chain, contingent business interruption costs. Read More
Nigerian authorities and Shell’s local subsidiary were on Monday investigating the cause of an oil spill on the Trans Niger pipeline that lasted several days.
The spill from the 180,000-barrel-a-day, which happened at Eleme in Rivers State in south Nigeria, was detected on June 11. Four days later it was confirmed by Shell Petroleum Development Company of Nigeria Limited in a statement. Environmental rights groups said the spill lasted a week before it was contained. Representatives from Shell, the Nigerian Oil Spill Detection and Response Agency, and local communities were at the site on Monday to gather information, analyze data, examine physical evidence, and assess the causes of the leak, said Youths and Environmental Advocacy Centre, which monitors spills in the Niger Delta. (Reuters) Read More
Aramco aims to become Asia’s “one-stop source” for energy, chemicals demand – CEO
Saudi Arabia’s Aramco is ramping up its commitment to cater to Asia’s demand for energy and chemicals, according to President & CEO Amin H. Nasser. He has called for Asian countries to take a more prominent role in shaping an inclusive global energy transition.
“We are doubling down on Asia’s growing demand for energy; chemicals; advanced materials; lubricants; and new lower carbon energy, supported by game-changing technologies — doubling down on these needs by being Asia’s ‘one-stop source’ that also aims to balance energy security and affordability with environmental sustainability,” Aramco President & CEO Amin H. Nasser said during a a keynote speech at the Energy Asia conference today in Kuala Lumpur, Malaysia Read More
GAC MOTOR continues to expand its range of high-quality vehicles in South America as the brand rolls out EMKOO, the newest SUV model, to the market.
Positioned as a “Technology Pioneering SUV” with an eye-catching design and the latest car tech, the model is expected to become a strong contender in the subcompact SUV segment of the market.
GAC MOTOR introduced EMKOO to Bolivia and Panama this June. Other countries in the region, including Chile, will be seeing its launch within the next two months.EMKOO is packed with GAC MOTOR’s latest technology and connectivity features, including a hands-free phone system that can be accessed through a 10.1-inch touchscreen. Other highlights of this brand-new SUV model include wireless phone charging, advanced driver assistance system features, and world-leading engine thermal efficiency for a comfortable, safe, and economical driving experience Read More
GAC Group unveiled its first flying car, GOVE, at the GAC TECH DAY 2023 on June 26. The name “GOVE” is derived from the initials of GAC, On the Go, Vertical Flight, and Electric Vehicle.GOVE is a new energy flying vehicle that features a modular design where the flight cabin and chassis can be separated or combined, achieving optimal utilization for both flying and ground travel, blending the attributes of aircraft and automobiles seamlessly.
GAC has strategically laid out three major scenarios, including ground travel, airborne flight, and air-to-ground docking. In the ground travel scenario, GAC integrates the ADiGO PILOT autonomous driving system, turning the chassis of the GOVE into a fully automated mobile takeoff and landing station. The GOVE can take off and land instantly, move in any direction, and possesses sharing capabilities, allowing the flight cabin to pair freely and recharge at any time. Read More
BYD backed DENZA N7 model set to launch on July 3.
DENZA, the premium auto brand majority-backed by BYD, is set to launch the DENZA N7 model on July 3.
The mass-produced DENZA N7 has already rolled off the production line and is expected to arrive at DENZA’s offline stores soon.
In terms of powertrain, the DENZA N7 will be equipped with a permanent magnet synchronous motor produced by BYD. This motor boasts a maximum power output of 230kW.The DENZA N7 will be offered with one battery pack specification. The range for the two-wheel-drive version is expected to be 702 kilometers, while the four-wheel-drive version is estimated to have a range of 630 kilometers. The vehicle supports dual-gun fast charging technology, with a top charging power of 150 kW for a single gun and 230 kW for dual guns.There will also be a four-wheel-drive version available, featuring a front asynchronous motor and a rear permanent magnet synchronous motor, with maximum power outputs of 160kW and 230kW, respectively. The top speed of the vehicle can reach up to 180 km/h. Read More
On June 25, Chengdu city’s authority issued the “Development Plan for the New Energy and Intelligent Connected Vehicle Industry in Chengdu (2023-2030)” (referred to as “the Plan”). According to the Plan, Chengdu city aims to achieve an overall scale of the automotive industry of 300 billion yuan and a total local production of 1 million vehicles (excluding output from subsidiaries in other regions) by 2025. Among them, the number of new energy vehicle (NEVs) running on roads is expected to reach 800,000 units and 250,000 in terms of production volume. By 2030, the supply chain and innovation chain of the new energy and intelligent connected vehicle industry in the city will have strong international radiation capabilities. Chengdu will concentrate on the development of electric passenger vehicles, commercial vehicles, and specialized vehicles, including pure electric, extended-range hybrid, and plug-in hybrid models. The Plan emphasizes the need to upgrade existing vehicle manufacturers and introduce popular models. Additionally, the city aims to develop pure electric commercial vehicles, especially in the medium and heavy-duty truck segment, using efficient hybrid and battery swapping technologies. The Plan also highlights the development of pure electric special vehicles such as sanitation trucks, concrete mixers, and engineering vehicles. By 2025, a total of 40 hydrogen refueling stations (including new construction, renovation, and expansion) are expected to be completed in Chengdu city. Read More
Siemens Mobility and SWEG open depot for battery-powered trains in Offenburg. Siemens Mobility is opening a new railway workshop in Offenburg together with Südwestdeutsche Landesverkehrs-GmbH (SWEG). The new, modern depot will be used to maintain the Siemens Mireo Plus B battery-powered trains that are expected to enter service in the Network 8 “Ortenau” as of mid-December 2023 – a first in Germany. SWEG will lease the depot to Siemens Mobility for 30 years from June 2023. As part of the opening ceremony today, the Mireo Plus B also took its first public test run on the route between Offenburg and Gengenbach. In addition, Baden-Württemberg’s Transport Minister Winfried Hermann and SWEG CEOs Tobias Harms and Dr. Thilo Grabo signed the transport contract for Network 8 transferring operation of the network from the state to SWEG for 15 years as of December 10, 2023. Read More
New CCC report supports UK100’s urgent call to empower local authorities to take Net Zero lead. UK100, the only UK-wide network of local authorities committed to ambitious Net Zero action, welcomes the Climate Change Committee’s (CCC) new report, “Progress in reducing emissions 2023 Report to Parliament”.
The report underscores the pivotal role local authorities play in the transition to Net Zero, mirroring UK100’s recent “Powers in Place: The handbook of local authority Net Zero powers” report. The CCC report advocates for local authorities to have more control in managing the roll-out of electric vehicle charging infrastructure, setting higher energy efficiency standards for new homes, requiring energy efficiency improvements in existing buildings, and mandating businesses to reduce, reuse, and recycle waste. Responding to the report, Jason Torrance, UK100’s Interim Chief Executive, says: “The Climate Change Committee’s report is a vital reminder of the crucial role of local authorities in reaching Net Zero. Some trailblazing local authorities are achieving enormous change despite the regulatory and resource challenges the report highlights — but many are still hamstrung by “Kafkaesque” rules and short-term competitive funding pots.” “The Progress report only reinforces the urgency of our call for an end to short-term competitive local authority funding and a Net Zero Powers Bill. This will capitalise on progress made by trailblazing councils and address the critical gaps still hampering wider local Net Zero delivery.”
“Ministers must now take heed of both reports and prioritise local action that accelerates Britain towards Net Zero while halting investments that drive us further from our world-leading goals.” Read More
Baker Hughes Rig Count
U.S. Rig Count is down 5 from last week to 682 with oil rigs down 6 to 546, gas rigs unchanged at 130 and miscellaneous rigs up 1 to 6.
U.S. Rig Count is down 71 rigs from last year’s count of 753 with oil rigs down 48, gas rigs down 27 and miscellaneous up 4.
The U.S. Offshore Rig Count is down 1 to 19, up 3 year-over-year.
Canada is up 10 to 169 rigs.
Canada Rig Count is up 10 from last week to 169, with oil rigs up 7 to 110, gas rigs up 3 to 59.
Canada Rig Count is up 15 rigs from last year’s count of 154 with oil rigs up 6, and gas rigs up 9.
| Region | Period | Rig Count | Change |
| U.S.A | 23 June 2023 | 682 | -5 |
| Canada | 23 June 2023 | 169 | +10 |
| International | May 2023 | 965 | +18 |
U.S. Department of Energy announced the American-Made Solar Data Bounty Prize, a new competition designed to increase the accessibility of high-quality time-series datasets for photovoltaic (PV) systems. These types of datasets can be used to build, train, and optimize models designed for PV system simulation, which can in turn provide more accurate performance estimates and better system designs. Improving the accuracy of PV system modeling lowers the risk of developing and operating those assets, which can attract more capital for deployment of PV power plants.
The Solar Data Bounty Prize shares a common goal with the PV Fleet Performance Data Initiative, incentivizing PV system owners to share their datasets so researchers can continue to develop and fine-tune modeling tools for solar applications.
Owners of PV systems are invited to submit at least five years of historical time-series data at a minimum of 15-minute time resolution for one or two of their systems. Submissions will be scored using a rubric to reflect data quality and quantity. Datasets collected through this prize are meant to assist commercial and academic research and development efforts seeking to improve the accuracy of PV system modeling, and thus lower the risk associated with developing and operating those assets.
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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