London, 31 October, 2023, (Oilandgaspress): – Not all clean technologies are thriving and some supply chains, notably for wind, are under pressure, but there are striking examples of an accelerating pace of change. In 2020, one in 25 cars sold was electric; in 2023, this is now one in 5. More than 500 gigawatts (GW) of renewables generation capacity are set to be added in 2023 – a new record. More than USD 1 billion a day is being spent on solar deployment. Manufacturing capacity for key components of a clean energy system, including solar PV modules and EV batteries, is expanding fast. This momentum is why the IEA recently concluded, in its updated Net Zero Roadmap, that a pathway to limiting global warming to 1.5 °C is very difficult – but remains open.
South Africa, Egypt, Nigeria, Kenya, and Morocco, widely referred to as the ‘Big 5’ wealth markets in Africa, top the list of the wealthiest countries in Africa, according to a new report. The five account for 56% of Africa’s high-net-worth individuals and over 90% of the continent’s billionaires, theAfrica Wealth Report 2023 by Henley & Partners said. Mauritius was ranked sixth on the list despite its small size and population.
Over the next ten years, Africa’s millionaire population is expected to rise by 42%, reaching around 195,000 by 2032. Rwanda was the top performing market in Africa during the period, with millionaire growth of 72%. But Ethiopia and Ghana slipped down the pecking order after growing rapidly until 2019.
South African cities dominate the list of Africa’s Top 10 wealthiest cities by the number of resident millionaires. Johannesburg ranked first, followed by Cairo, Cape Town, Lagos and Nairobi among the top five. Mauritius is predicted to be the standout, with 75% growth forecast for the next decade, the report said. Read full article
Automobili Lamborghini’s first nine months of 2023 closed with excellent numbers, breaking records in terms of sales, turnover and profitability and setting historic milestones for the company. For the first time in the history of Lamborghini, turnover exceeded the €2 billion mark after nine months, an +5.2% increase compared to the previous year. At the same time the operating result amounted to €618 million, exceeding the level of the fiscal year 2022. In terms of deliveries, the record stands at 7,744 cars with a +4.2% increase compared to the previous year. Sales numbers refer almost exclusively to the two internal combustion-engined models Urus and Huracan, sold out until the end of production expected in the second half of 2024, after which the range will be fully hybridized.
In terms of deliveries in the macro-areas, the three regions EMEA, America and Asia Pacific distributed 3,117, 2,728 and 1,899 cars respectively. In terms of individual markets, the United States remains in first place (2,342 cars delivered), followed by Germany (709 units), the United Kingdom (688), the Chinese mainland, Hong Kong and Macau (643), Japan (434), Middle East (370) and Italy (336).
The third quarter of 2023 has brought many innovations that demonstrate Lamborghini’s future-focused strategy, with initiatives by the company coinciding with constant growth. In August, during Monterey Car Week the Lanzador concept car was presented as a world premiere: a visionary preview of Lamborghini’s future fourth model line. The Lanzador concept gives an insight into the first fully electric model of the company to be built from 2028. Read full article
During the period from October 23 to October 27, 2023, Eni acquired on the Euronext Milan no. 4,270,987 shares (equal to 0.13% of the share capital), at a weighted average price per share equal to 15.4760 euro, for a total consideration of 66,097,835.27 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. On the basis of the information provided by the intermediary appointed to make the purchases, here below a synthesis of transactions for the purchase of treasury shares on the Euronext Milan on a daily basis: Read full article
Rivian customers will soon begin receiving vehicles that have had their first charge entirely from wind and solar energy. The sun doesn’t always shine and the wind doesn’t always blow. That’s why, in addition to our solar canopy, we’re also generating wind energy on site with our now fully commissioned wind turbine. This allows us to more intentionally balance our time of energy consumption with the time of energy supply — so that every single vehicle that comes off the line gets its first charge with 100% clean energy.The 2.8 megawatt turbine has been fully commissioned and, in conjunction with the on-site 783-kilowatt solar canopy, is now supplying renewable energy for the outbound charging yard. The turbine, located at the plant’s test track, is capable of producing about 10 million kWh annually — enough to charge 150,000 vehicles every year and enable over 20 million miles of renewable driving. The wind turbine project supports our long-term renewable energy vision of developing high-impact projects that reduce our carbon footprint while also benefiting customers, communities and the electrical grid. Giving every vehicle its first charge with on-site renewable energy is a milestone on the path to providing access to 100% renewable energy for every mile. Read full article
The Scénic Vision featured in the new Netflix series “Bodies”
All eight episodes of Bodies – a British limited series based on a graphic novel written by Si Spencer – have been available to stream on Netflix since 19 October, already securing the show a spot on the “top 10 in Series in 72 countries on Netflix” list.
Grounded in the present with the Mégane E-Tech electric and thrust into the future with the Scénic Vision, Renault accompanies the detectives’ investigations in the Whitechapel district of East London. Read full article
JLR has confirmed that its state-of-the-art plant in Nitra, Slovakia, will produce electric vehicles as part of the company’s Reimagine Strategy that will see nine new electric vehicles launched by 2030.
Announcing the news on the Slovakian plant’s fifth anniversary, Executive Director of Industrial Operations Barbara Bergmeier hailed the incredible success of the plant and its people, which have produced over 365,000 Defender and Discovery vehicles to date, since production commenced in October 2018.JLR invested €1.3bn to launch Nitra, a highly digitised and automated plant that was the first in Europe to use Kuka’s Pulse carrier system – 30% faster transfer times than conventional systems. Since then, the luxury car maker has invested a further €60m in new technology, land, buildings and software.
Built exclusively at Nitra, the new Defender has been a particular financial success story for the company. As JLR’s bestselling model for last two financial years, Defender is generating ten times the revenue that the Classic Defender was in 2015.
Looking forward, JLR is investing £15bn over five years to transform its vehicles to electric and become carbon net zero by 2039. This includes electrifying its luxury Range Rover, Defender, Jaguar and Discovery brands, and launching nine pure electric models by 2030.
JLR is rapidly transforming its industrial footprint to prepare for electrification, and the electrification of Nitra represents the last piece in that jigsaw.
Halewood will become JLR’s first all-electric production facility, Solihull will produce electric Range Rover, Range Rover Sport and Jaguar models, the Engine Manufacturing Centre in Wolverhampton will build Electric Drive Units (EDUs) and Castle Bromwich will be repurposed to build body panels for EVs. Meanwhile JLR has this week opened a new £250m Future Energy Lab in Whitley, Coventry, UK, to develop Electric Drive Units for the company in house. Read full article
Wintershall Dea, together with its partners have produced first gas at the ED2-X well at East Damanhur block in the onshore Nile Delta. The licensees, operator Wintershall Dea (40%) and partners Cheiron Energy (40%) and INA (20%), as well as the Egyptian Gas Holding Company (EGAS), started exploring at East Damanhur in 2021 and announced a gas discovery in the ED-2X ST1 well in January 2023. The well’s location, nearby to existing infrastructure at Disouq, enabled a rapid tie-back and production start. The ED-2X ST1 well is located about three kilometers from the Disouq field, where Wintershall Dea and EGAS are producing natural gas in the DISOUCO joint venture. The well was tied-back to the Disouq facilities within two months. It delivers production of around 10 MMscf per day. Read full article
The Ulez expansion cut the number of older, more polluting vehicles being driven in Greater London by 45 per cent but has cost drivers about £26million in levies and fines in its first month, it has been revealed. An average of 95.2 per cent of vehicles now comply with the exhaust emission rules – resulting in 77,000 fewer non-compliant petrol and diesel vehicles being driven in the capital each day, down from 170,000 to 93,000.But about 57,200 drivers a day have been paying the £12.50 levy, generating £23,595,000 for Transport for London by the end of September – and more than 13,000 have been sent £180 fines, generating up to a further £2.4m. Read full article
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $81.54 | Down |
| Crude Oil (Brent) | USD/bbl | $87.50 | Down |
| Bonny Light | USD/bbl | $88.89 | Down |
| Saharan Blend | USD/bbl | $88.59 | Down |
| Natural Gas | USD/MMBtu | $3.61 | Up |
| OPEC basket 30/10/23 | USD/bbl | $91.10 | Down |
Occidental announced today that its Board of Directors declared a regular quarterly dividend of $0.18 per share on common stock, payable on January 16, 2024, to stockholders of record as of the close of business on December 8, 2023. Read full article
Baker Hughes Rig Count: U.S. +1 to 625 Canada -2 to 196
U.S. Rig Count is up 1 from last week to 625 with oil rigs up 2 to 504, gas rigs down 1 to 117 and miscellaneous rigs unchanged at 4.
Canada Rig Count is down 2 from last week to 196, with oil rigs up 1 to 122, and gas rigs down 3 to 74.
| Region | Period | Rig Count | Change |
| U.S.A | 27 October 2023 | 625 | +1 |
| Canada | 27 October 2023 | 196 | -2 |
| International | September 2023 | 940 | -12 |
Electricity and gas costs, which experienced a sharp increase after the Russian invasion of Ukraine, are now steadying in Europe, after peaking in the first half of 2023. While pre-tax prices are decreasing, some countries have already frozen the support measures they offered households, resulting in higher consumer prices.
The EU appears to be more ready for winter this year now that it has largely replaced Russian energy, but it’s worth noting that there’s disparity between electricity and natural gas prices among individual countries both within and outside the bloc.In the first half of 2023, electricity prices including taxes for household consumers in the European Economic Area (EEA) ranged from €11.4 per 100 kWh in Bulgaria to €47.5 per 100 kWh in the Netherlands.
The Netherlands was followed by Belgium (€43.5), Romania (€42) and Germany (€41.3). Read full article
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SDX announced the completion of testing operations on the KSR-21 well in Morocco. The well, targeting a prospect within the Hoot formation, was drilled to a total vertical depth of 1,955 meters. The well test resulted in a flow rate of approximately 4 MMcf/d (on 1/4 inch choke) during the test period. SDX is the sole independent gas producer in Morocco and works closely with its partner, Office National des Hydrocarbures et des Mines (“ONHYM”), on all aspects of development and production. The gas from SDX’s wells is sold to multiple offtakers in the Kenitra industrial area. Read full article
