London,22 November, 2023, (Oilandgaspress): – The UAE has started capturing C02 emissions in the air as part of a decarbonisation project of oil giant Abu Dhabi National Oil Company (ADNOC) at its pilot site in Fujairah, Bloomberg reported on Tuesday. The captured carbon will turn into rock over a period of three to four months after it is dissolved in seawater and injected into the Hajar Mountains, Chief Technology Officer Sophie Hildebrand was quoted by the news agency as saying.
Heat-related illnesses and deaths are rising as the world warms, an international team of health experts said on Tuesday, forecasting a 370% surge in yearly heat deaths by mid-century if the world warms by 2 degrees Celsius above preindustrial levels. Already, at roughly 1.1C (2F) of warming, people experienced about 86 days of health-threatening high temperatures on average in 2022, the report from the Lancet medical journal found. Read full article
The NNPC Ltd recently played host to the United States Grains Council at the NNPC Towers in Abuja. During the visit, both parties explored areas of collaboration towards growing Nigeria’s ethanol production in line with sustainability principles. The NNPC Ltd team was led by the Executive Vice President, Downstream, Dapo Segun, while the US delegation was led by the President/CEO of the US Grains Council, Ryan LeGrand Read full article
Alpine announces its driver line-up including Mick Schumacher for the 2024 Endurance season
Mick Schumacher is confirmed for the 2024 season at Alpine and keeps charting his own course in motor racing. A winner in F4, he won the 2018 European F3 title before winning the Formula 2 championship two years later. Promoted to F1, the son of seven-time world champion Michael Schumacher raced for the Haas F1 Team in 2021 and 2022 before moving to Mercedes as a reserve driver. Read full article
Hyundai’s refreshed 2024 Elantra N adds upgraded technology derived from motorsport competition to provide fine-tuned performance with improved stability and comfort. First launched in 2021, Elantra N has become a favorite sport sedan among driving enthusiasts, accelerating Hyundai N’s brand appeal in the U.S. market. The refreshed Elantra N will arrive at dealers beginning in January 2024. The new Elantra N boasts upgraded technological capabilities transferred from motorsport competition to offer sharper handling, enhanced safety, and improved comfort to deliver an emotionally engaging driving experience based on the three pillars of N-vehicle development — Corner Rascal, Racetrack Capability and Everyday Sportscar. Read full article
Undisputed leader of commercial vehicles in Europe and France (with 40% market share), Stellantis will be at the professionals’ meeting in Lyon, at the Solutrans show, to present his offensive Pro One. Worldwide, under this label, Stellantis presents the most complete range of the market, with six brands, five LCVs, ten pick-ups, a micromobility offer and a unique hydrogen solution. The LCV Business Unit will contribute to the realization of the Dare Forward 2030 strategic plan, representing one third of the net Stellantis income, and generating a turnover of 5 billion euros for connected services. “Stellantis confirms to Solutrans the deployment of its «Pro One» offensive, via new, concrete and 360° customer responses: new generation FIAT e-Ducato 420kms of autonomy, After-Sales solutions, Parts from the circular economy, and e-retrofit,” says Xavier Peugeot, Senior Vice President of the Pro One Business Unit at Stellantis. FIAT E-DUCATO Stellantis will be exposing to the public the new FIAT PROFESSIONAL E-Ducato, which came from its second generation of electric commercial vehicles unveiled a few weeks ago. This is an unprecedented renewal of the entire range of commercial vehicles for its iconic brands Citroën, FIAT Professional, Opel, Peugeot and Vauxhall. Read full article
Opel Movano. With its diverse range of body styles, up to 17 m3 of cargo volume and a payload of up to 2 tons, the largest light commercial vehicle (LCV) from the brand with the Blitz has always been impressive. The new Movano retains all of the class-leading qualities and adds new ones on top, such as advanced driver assistance systems that enable level 2 automated driving for the first time. Above all, with the locally emissions-free new Movano Electric, Opel continues its electrification strategy – with higher power and a longer driving range. The new electric transporter is powered by an especially strong electric motor with 200 kW/270 hp and 400 Newton metres of torque. Thanks to the new 110 kWh battery, the new Movano Electric can cover up to 420 kilometres (WLTP1) without a charging stop, making it a capable, reliable partner, even on longer journeys. Additional versatility is provided by the new 230 V dashboard socket that enables electrical devices to be powered or recharged. In the interior, the focus is on connectivity, ergonomics and comfort. The redesigned cockpit offers infotainment systems with up to 10-inch colour touchscreens. Wireless smartphone charging is possible, as is keyless entry and starting. An optional versatile “Eat & Work” bench seat can also be used as a work surface. The Movano underlines its new, modern and future-oriented character when viewed from the outside, featuring a refreshed design at the front and rear that is typical of the brand, as well as optional LED headlights. Read full article
Being behind the wheel of Bugatti’s track-only hyper sports car is a multi-dimensional sensory experience that is unlike anything else. Central to this immersive driving adventure is the Bolide’s interior; a cabin that draws inspiration from the high-level world of motorsport and is influenced by exquisite craftmanship and peerless luxury. Facilitated by the advancement of an all-new lightweight and high-strength monocoque, every facet of the Bolide’s1 interior has been created specifically for Bugatti’s track-only hyper sports car. The Bolide’s incredible performance – and therefore its resulting interior packaging requirements – necessitated a monocoque even stronger and stiffer than the Chiron’s. Read More
Enel S.p.A. (“Enel”) informs that its subsidiaries Enel Américas S.A. (“Enel Américas”) and Enel Perú S.A.C. (“Enel Perú”), the latter controlled by Enel through the Chilean listed company Enel Américas, have signed an agreement with Niagara Energy S.A.C. (“Niagara Energy”), a Peruvian company controlled by the global investment fund Actis, for the sale of all the equity stakes held by the Enel Group in power generation companies Enel Generación Perú S.A.A. (“Enel Generación Perú”) and Compañía Energética Veracruz S.A.C. (“Compañía Energética Veracruz”). Specifically, the agreement establishes that Niagara Energy will acquire the stakes held by Enel Perú and Enel Américas in Enel Generación Perú’s share capital (equal to approximately 66.50% and 20.46%, respectively) as well as those held by Enel Perú in Compañía Energética Veracruz’s share capital (equal to 100%) for a total consideration of about 1.4 billion US dollars (approximately 1.3 billion euros1), equivalent to an overall enterprise value of around 2.1 billion US dollars (about 1.9 billion euros1, on a 100% basis). This consideration is subject to adjustments customary for these kinds of transactions in consideration of the time between signing and closing. The overall transaction is expected to generate a reduction of the Group’s consolidated net debt of approximately 1.6 billion euros between 2023 and 2024 (about 0.4 billion euros in 2023 and 1.2 billion euros in 2024) and a positive impact on reported Group net income in 2024 amounting to approximately 60 million euros[2]. The transaction is set to bear no impact on Group ordinary economic results. Read More
The Enel Group is presenting its 2024-2026 Strategic Plan today to the financial markets and the media.
THE GROUP IN THE ENERGY CONTEXT
Short-term global uncertainties have required power companies to become more flexible and improve visibility on their returns. In the medium- to long-term, grids should be ready to accommodate an increase in electricity demand driven by growing electrification and distributed generation, while the expected growth in renewable capacity will require battery storage to balance demand with supply.
Against this backdrop, the Group plans to allocate its investments efficiently. Regulated businesses will be at the center of Group Strategy to improve quality and resiliency. Likewise, renewable investment decisions will be more selective, diversifying technologies and countries, improving returns and reducing risks, also leveraging on partnerships. Finally, the Group plans to optimize its portfolio of customers and end-to-end processes, increasing efficiency in the acquisition and management of clients while increasing their loyalty through bundled offers, alongside promoting the electrification of consumption.
THE 2024-2026 STRATEGIC PLAN
The Group focuses its 2024-2026 Strategic Plan around three pillars:
Profitability, flexibility and resiliency through selective capital allocationto maximize Group risk/return profile;
Efficiency and effectiveness driving Group operations,based on simplified processes, a leaner organization with clear accountability and focus on core geographies as well as cost discipline in order to boost cash generation while compensating for inflationary dynamics alongside rising cost of capital;
Financial and environmental sustainability to pursue value creation while addressing the challenges of climate change. Read More
(Reuters) – The U.S. Department of the Interior on Thursday approved the Empire Wind offshore project, owned by Equinor (EQNR.OL) and BP (BP.L), the sixth commercial-scale wind farm to be greenlit under President Joe Biden’s administration. Empire Wind is among several offshore wind projects facing construction and financing cost blowouts that the troubled industry says would not be covered by existing power sales contracts, but it could be helped by a new auction planned by New York state. Read More
Oxford City Council are going to ban gas hobs and boilers in new homes from 2025 in a bid to become more environmentally friendly. The city is planning to hit net zero by 2040 and says this move will help tackle the ‘existential threat of climate change’.
The proposals state that appliances that use fossil fuels for heating and cooking are to be banned from being installed in new homes – with very limited exceptions. Oxford is not the only one who is planning to ban gas hobs, as New York is also planning to wipe it out from 2026. Read More
Development in Siemens Energy’s relevant markets continued to be strong, despite an overall subdued economic momentum.
After several quarters of substantial growth, orders in the fourth quarter declined to €10.6bn and were down 7.8% on a comparable basis (excluding currency translation and portfolio effects) from the high prior-year figure, which was driven by large orders at Grid Technologies (GT). Book-to-bill ratio (ratio of orders to revenue) was well above 1, leading to a record order backlog of €112bn at year-end.
Revenue of €8.5bn declined by 2.5% on a comparable basis mostly due to Siemens Gamesa.
Siemens Energy’s Profit before special items was in the expected range with negative €487m (Q4 FY 2022: positive €564m) mainly driven by the loss at Siemens Gamesa. Special items decreased to negative €64m (Q4 FY 2022: negative €105m). Profit for Siemens Energy came in at negative €551m (Q4 FY 2022: positive €459m).
Accordingly, Siemens Energy showed a Net loss of €870m (Q4 FY 2022: Net income €354m). Corresponding basic earnings per share (EPS) were negative at €1.04 (Q4 FY 2022: positive €0.33).
Free cash flow pre tax amounted to €1,108m. This was below strong prior-year quarter’s level of €1,949m, primarily due to Siemens Gamesa, which benefited in the prior-year quarter from the sale of its wind farm development portfolio in Southern Europe. Read More
GM is deeply committed to an all-electric future, and to make that future a reality, we’re focused on developing a broad portfolio of affordable and sustainable electric vehicles. EV motors are a key element of our Ultium Platform — their magnets present a great opportunity to reduce cost and environmental impact compared to traditional magnet materials, while localizing our EV supply chain in North America.
The permanent magnets in EV motor rotors are typically made from rare earth minerals like terbium, dysprosium, praseodymium and neodymium, which are expensive and currently processed almost entirely overseas.
Niron Magnetics of Minneapolis has developed the world’s first and only permanent magnet with automotive-grade power that is entirely free from critical materials, including rare or heavy rare earth minerals. Niron’s proprietary Clean Earth Magnet® technology is based on iron nitride, an abundant and affordable material with great potential for commercial use in future EVs. GM and Niron have completed a strategic partnership agreement to co-develop Clean Earth Magnet motor technology that can be used in future GM EVs. GM Ventures has also made an investment in Niron, which will join the ranks of its 30-plus portfolio companies. The investment will support the scaling of Niron’s manufacturing and commercialization of their sustainable magnets. Read More
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $77.08 | Down |
| Crude Oil (Brent) | USD/bbl | $81.80 | Down |
| Bonny Light | USD/bbl | $81.58 | Down |
| Saharan Blend | USD/bbl | $82.39 | Down |
| Natural Gas | USD/MMBtu | $2.84 | — |
| OPEC basket 21/11/23 | USD/bbl | $84.75 | Up |
Neste is partnering with two new distributors in France to make Neste MY Renewable Diesel™ available for the first time in the market and to contribute to the reduction of greenhouse gas emission in the transport sector. Neste MY Renewable Diesel will be available in France from the beginning of January, 2024.
“We are very proud to start our collaboration with two new fuel distribution partners, Altens and Bolloré Energy in the French market. In France, transportation is the single largest source of greenhouse gas emissions, accounting for 30% of all emissions. With Neste MY Renewable Diesel, greenhouse gas emissions can be reduced by as much as 75-95%* over the life cycle of the fuel compared to fossil diesel,” says Peter Zonneveld, VP Sales EMEA, Renewable Road Transportation at Neste.
“The collaboration between Neste, the world’s leading producer of renewable diesel, and Altens, a 100% dedicated provider of non-fossil and low-carbon solutions, reflects a joint commitment to effective decarbonization initiatives. Our decision to join forces with Neste to make Neste MY Renewable Diesel available in France was based on the reliability and efficiency of the solution enabling significant greenhouse gas emission reductions for its users. Furthermore, Neste MY Renewable Diesel is a high-quality and high-performance fuel, meeting all specifications of relevant technical standards,” says Mohamed Bennama, Director at Altens.
“As a major actor in distributing oil and gas in France and in Europe, Bolloré Energy is proud to announce the partnership with Neste. This is a step forward that is seamlessly connected to our ambitions to reduce greenhouse gas emissions from transportation – thanks to Neste MY Renewable Diesel,” says Thibaut de Rivoire, Deputy CEO of Bolloré Energy. 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.
| Region | Period | Rig Count | Change |
| U.S.A | 17 November 2023 | 618 | +2 |
| Canada | 17 November 2023 | 196 | -3 |
| International | October 2023 | 962 | +22 |
On November 13, 2023, Eni acquired on the Euronext Milan no. 1,064,786 shares (equal to 0.03% of the share capital), at a weighted average price per share equal to 15.1229 euro, for a total consideration of 16,102,652.20 euro within the second tranche of the treasury shares program approved by the Shareholders’ Meeting on 10 May 2023, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999. From the start, on 4 September 2023, of the second tranche of the buyback programme (aimed at giving Eni shareholders additional remuneration in relation to the distribution of dividends), Eni acquired no. 42,283,998 shares (equal to 1.25% of the share capital) for a total consideration of 642,181,687.30 euro. Considering the treasury shares already held and the cancellation of 195,550,084 treasury shares resolved by the Shareholders’ Meeting on 10 May 2023, the purchases made from the beginning of the treasury shares program on 12 May 2023 and the free of charge shares granted to Eni’s directors, following the conclusion of the Vesting Period as provided by the “Long-Term Incentive Plan 2020-2022” approved by Eni’s Shareholders’ Meeting of 13 May 2020, Eni holds n. 132,505,070 shares equal to 3.92% of the share capital. Read full article
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