London, (Oilandgaspress) ––Engie is reportedly pulling the plug on EVBox seven years after acquiring it and accumulating €800m in debt. It has now gone bankrupt. Attempts failed to find someone to take over the ailing company that installed 550,000 charging points worldwide and has a circa 20,000 business client base. Various media reports indicate that approximately seven hundred jobs, many of which are at the head office in Amsterdam will be lost. EVBox manufactures and distributes electric vehicle charging stations and charging management software.
ENGIE continues to increase its biomethane production capacity in Europe with the acquisition of a new unit in Belgium, the Group’s first biomethane production facility in the country. Following on from its recent acquisitions in the Netherlands and England, this strategic purchase from the Schelfhout family is in line with the Group’s objective of building a European production platform to accelerate its development in the biomethane sector.
Located in Bree, in the Flemish region, and operational since 2013 in cogeneration (production of heat and electricity from biogas), this plant will be the first in the country to be converted to inject biomethane into the local gas network from October 2024. It will have an annual biomethane production capacity of 68 GWh, equivalent to the annual consumption of 6,000 households.
ENGIE is one of the leaders in the development of biomethane in Europe, with an annual production capacity of over 1 TWh from 22 units in France, 2 in the Netherlands and 4 in the UK.
This new acquisition is a strategic move to enter the new biomethane market in Belgium, a historic country for ENGIE, where the Group supplies energy to 2.7 million customers. Read More
EVBox has donated 40 EVBox Iqon electric vehicle (EV) charging stations to the Illinois Department of Natural Resources (IDNR). These charging stations will provide EV drivers with convenient access to charging stations in Illinois. This marks a significant milestone in the expansion of EV infrastructure in Illinois’ public spaces. To help advance electric mobility in their home state, EVBox, based in Libertyville, teamed up with the Illinois Department of Commerce and Economic Opportunity (DCEO) and the Illinois Department of Natural Resources (IDNR). Together, they worked on a plan designed to significantly boost the availability of charging stations statewide. Read More
On, Oct. 15, the U.S. Environmental Protection Agency released 2023 greenhouse gas data collected under the EPA’s Greenhouse Gas Reporting Program. In 2023, reported direct emissions of greenhouse gases from large stationary sources, representing approximately 50% of total U.S. emissions, were down by approximately 4% from 2022.
More than 8,100 industrial facilities reported greenhouse gas emissions in 2023 to EPA. The data show that in 2023:
• Power plants were the largest stationary source of U.S. greenhouse gas emissions, with 1,320 facilities emitting approximately 1.5 billion metric tons of carbon dioxide. Reported power plant emissions decreased by 7.2% between 2022 and 2023. There is a 33.8% decrease in emissions since 2011 reflecting the long-term shifts in power sector fuel-stock from coal to natural gas.
• Petroleum and natural gas systems were the second largest stationary source of reported emissions, reporting 322 million metric tons of greenhouse gas emissions. Reported emissions for 2023 were 1.4% higher than in 2022, and 16.4% higher than 2016. (2016 is the earliest year of comparable data for this sector, as new industry segments began reporting that year.)
• Reported direct emissions from other large sources in the industrial and waste sectors were a combined 785 million metric tons of greenhouse gas emissions in 2023, down 1.1% from 2022, and down 10.3% since 2011. These are other direct emission sources reporting to the GHGRP other than power plants and petroleum and natural gas facilities. Read full article
(Reuters) – The Russian General Prosecutor’s office was seeking to collect more than 1 billion euro ($1.09 billion) in damages from international energy major Shell, the RIA news agency reported on Tuesday, citing the Moscow Arbitration court.
Russia’s Prosecutor General earlier this month filed a lawsuit against eight units of Shell, which quit Russia following the start of Moscow’s military conflict with Ukraine in February 2022, according to the court’s website..It cited Shell plc, Shell Energy Europe Limited, Shell Global Solutions International B.V., Shell International Exploration & Production B.V., Shell Neftegaz Development, Shell Exploration & Production Services B.V., Shell Sakhalin Services B.V. and Shell Sakhalin Holdings В.V. among the defendants Read More
Second-hand electric vehicles are plunging to bargain prices as dealerships clog up with unwanted models, according to reports.
The Wall Street Journal reported on Monday that the average selling price of a three-year-old EV had dropped by 25 percent since the start of 2023, making them cheaper than gas-drinking vehicles of the same vintage. The reason, experts said, lies with EV builders offering deep discounts and low-interest financing deals on new cars as they struggle to shift their inventory in the face of flagging consumer demand. Read Press Release
Neste’s renewable diesel helps Verne, a provider of sustainable data center solutions for high intensity computing, to transition its operations from fossil to renewable fuels. Verne’s data centers in Helsinki, Pori and Tampere in Finland will use Neste MY Renewable Diesel™ to power their backup generators. The switch from fossil diesel to Neste’s renewable diesel helps Verne reduce the greenhouse gas emissions from their backup generators by on average 90%* over the life cycle of the fuel when compared to fossil diesel.
This contributes to Verne’s commitment to reducing the carbon footprint of its data center operations. “Verne’s mission is to provide data center services minimizing the environmental impact. The switch to renewable diesel is a milestone for the company and our customers, as it means we will be able to eliminate fossil fuels from our operations in Finland. While our backup generators are only deployed in the event of an extended power failure – which is thankfully extremely rare thanks to Finland’s highly reliable grid – they are tested regularly, so it is important we minimize the impact they have on the environment. In addition to reducing GHG emissions, Neste’s renewable diesel works very effectively in cold temperatures and is therefore an ideal solution for our Finnish operations,” says Kim Gunnelius, Head of Finland at Verne. Read more
Hydro Energi AS has signed a long-term power purchase agreement (PPA) with Skellefteå Kraft AB for the accumulated delivery of 2 TWh to Hydro’s Norwegian aluminium plants in the period from 2025-2032.
The PPA secures a total of 2 TWh from Skellefteå Kraft’s SE2 portfolio over an 8 year period to Hydro’s aluminium smelters in Norway.
Long-term PPAs are crucial for Hydro to continue to lead the way in low-carbon aluminium globally. Renewable power is key to produce aluminium in Norway with a carbon footprint of about 75 percent less than the global average and it is needed to succeed with Hydro’s technology roadmap towards zero emissions in 2050.
The power contract will be part of Hydro’s Nordic power portfolio, which consists of captive power production of 9.4 TWh per year and a long-term contract portfolio of around 10 TWh . Long-term agreements start to expire at the end of 2030 and Hydro is actively pursuing alternative sourcing options to meet the need for renewable power to ourits operations. Read More
Nel ASA reported revenues of NOK 366 million in the third quarter of 2024, up 21% from NOK 303 million in the same quarter last year. EBITDA in the quarter was NOK -90 million (Q3 2023: -62). The Alkaline segment contributed positively to Group EBITDA, but this was more than offset by the negative contribution from the PEM segment due to unusually low revenues in the quarter. Order intake was NOK 161 million (Q3 2023: 338 million). At the end of the quarter the order backlog was NOK 1 872 million, down 20% year-over-year. The cash balance was NOK 1 941 million at quarter end.
Quarterly highlights
• Revenue from continuing operations in the third quarter 2024 was NOK 366 million, up 21% from the third quarter 2023 (Q3 2023: 303). Revenue was positively impacted by delivery of alkaline electrolyser equipment whereas revenue from sale of PEM electrolyser equipment was low.
• EBITDA in the quarter was NOK -90 million (Q3 2023: -62). Alkaline had a positive contribution to Group EBITDA but this was more than offset by the negative contribution from PEM on the back of low project revenue in the quarter.
• Net loss from continuing operation was NOK -115 million (Q3 2023: -167). The improvement was mainly explained by the NOK -90 million fair value adjustment from shareholdings in Everfuel in Q3 2023.
• Order intake in the quarter amounted to NOK 161 million, a 52% decrease from the corresponding quarter last year (Q3 2023: 338).
• Order backlog was NOK 1 872 million at the end of the quarter, down 20% from the third quarter of 2023 and down 10% from the previous quarter.
• Cash balance was NOK 1 941 million at quarter end (Q3 2023: 3 799). Read Press Release
Mitsubishi Heavy Industries, Ltd. (MHI) announced that it has invested in Koloma, a startup company headquartered in Denver, Colorado. The investment has been executed through Mitsubishi Heavy Industries America, Inc. (MHIA), which joins a syndicate of investors, including Breakthrough Energy Ventures, Amazon’s Climate Pledge Fund, United Airline’s Sustainable Flight Fund and Energy Impact Partners. Koloma is a geologic hydrogen company that leverages its technology, proprietary data, and human capital advantages to identify and commercialize geologic hydrogen on a global scale. Koloma is actively engaged in exploration and appraisal of assets that will play a significant role in global decarbonization efforts. As the rapidly emerging geologic hydrogen industry takes shape, Koloma’s data-driven approach helps power the discovery of geologic hydrogen resources around the world. Read More
OPEC lowered its 2024 and 2025 forecasts for world oil demand on Monday, largely as a consequence of concerns about China’s economic outlook. OPEC now assumes that the global average daily oil demand will rise by around 1.9 million barrels (each containing 159 litres) to 104.1 million barrels this year. Just a month ago, the Saudi-led cartel had forecast an increase of more than 2 million barrels..The growth forecast for 2025 was lowered from 1.7 million barrels per day to 1.6 million barrels.
OPEC members and other oil exporters like Russia are trying to boost prices by cutting back on output. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $71.08 | Up |
| Crude Oil (Brent) | USD/bbl | $74.68 | Up |
| Bonny Light 15/10/24 , CBN | USD/bbl | $75.50 | Down |
| Dubai | USD/bbl | $76.92 | Down |
| Natural Gas | USD/MMBtu | $2.48 | Up |
| Murban Crude | USD/bbl | $74.71 | Up |
| OPEC basket 15/10/24 | USD/bbl | $73.58 | Down |
Mitsubishi Heavy Industries, Ltd. (MHI) held a commemorative ceremony on October 15 to celebrate reaching cumulative orders for 150 gas turbines units through Dongfang Turbine Co., Ltd. (Deyang, Sichuan Province), a subsidiary of Dongfang Electric Corporation, MHI’s partner for the gas turbine business in China.
The ceremony for the 150-unit milestone was attended by Zhang Yanjun, President of Dongfang Electric, with Liu Hui, Chairman of Dongfang Turbine. MHI was represented by Toshiyuki Hashi, Executive Vice President/President and CEO, Energy Systems, Takashi Tozawa, Senior Vice President/Vice President, Energy Systems, and Takashi Kubo, Senior Vice President/Chief Regional Officer, China. Also attending as a special guest was Qin Zhaohui, President of China Huaneng Group Co.,Ltd., Jiangsu Branch, the customer for the 150th unit.
Dongfang Turbine is one of three major manufacturers of heavy electrical equipment in China, handling manufacturing and repair services for steam turbines, gas turbines, and auxiliary plant equipment used for power generation. Since 2003, MHI has gradually expanded its licensing of large-scale gas turbines to the company. Read full article
Mitsubishi Power has completed the construction of a 50-megawatt (MW) class woody biomass-fired power plant in the city of Hyuga, in Miyazaki Prefecture, successfully handing over of the facility within the contract period. The Hyuga Biomass Power Plant, developed by a consortium led by MHI as part of a full turnkey solution for engineering, procurement, and construction (EPC), will be operated by Hyuga Biomass Power Co., Ltd., a special purpose company (SPC).
The power plant facility comprises a steam turbine, circulating fluidized bed (CFB) boiler, generator, and other equipment that deliver high combustion efficiency for biomass power generation. Improving power generation and fuel efficiency will lead to further reductions in the plant’s environmental impact. The SPC that will operate the plant is jointly owned by Osaka Gas Co., Ltd., ITOCHU Corporation, Tokyo Century Corporation, and Tokyo Energy & Systems Inc. Based on the EPC contract, MHI leveraged its experience with numerous power systems to build and supply the main power generating equipment, including the steam turbines, CFB boiler, and other large auxiliary machinery. MHI Group company Mitsubishi Heavy Industries Power Environmental Solutions, Ltd. provided the air quality control systems (AQCS), while Mitsubishi Electric Corporation supplied the generator and electrical components,(Note) and Fujita Corporation handled the civil engineering and construction. Read full article
Baker Hughes Rig Count: U.S. U.S. +1 to 586 Canada -4 to 219
U.S. Rig Count is up 1 from last week to 586 with oil rigs up 2 to 481, gas rigs down 1 to 101 and miscellaneous rigs unchanged at 4.
Canada Rig Count is down 4 from last week to 219, with oil rigs down 3 to 154, gas rigs up 2 to 65 and miscellaneous rigs down 3 to 0.
International Rig Count is up 16 rigs from last month to 947 with land rigs up 15 to 735, offshore rigs up 1 to 212.
The Worldwide Rig Count for September was 1,751, up 15 from the 1,735 counted in August 2024, and down 8, from the 1,759 counted in September 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 11 October 2024 | 586 | +1 |
| Canada | 11 October 2024 | 219 | -4 |
| International | September 2024 | 947. | +16 |
Oil and Gas News Undiluted !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
OilandGasPress.com is a website that provides news, updates, and information related to the oil and gas industry. It covers a wide range of topics, including exploration, production, refining, transportation, distribution, and automotive market trends within the global energy sector. Visitors to the site can find articles, press releases, reports, and other resources relevant to professionals and enthusiasts interested in the energy, oil and gas industry.
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: on Twitter | Instagram
Oil and gas press covers, Energy Monitor, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar, Marine, Aviation, Fuel, Hydrogen, Electric ,EV, Gas,
