London, 17 May 2024, (Oilandgaspress): –Crude near bottom of range while natural gas recovers Overall, the crude oil market has settled into a tight range near the bottom of what we expect to be the current range. This following a late April sell-off after the market concluded the Middle East conflict would likely have a very limited, if any, impact on supply and falling refinery margins pointed to tepid demand. In addition, OPEC+ have struggled to bring production in line with their targets amid continued overproduction from several key producers as well as robust production from members without a quota. With the price of Brent crude hovering below USD 90, a level quietly being targeted by Saudi Arabia and others, the upcoming OPEC+ meeting is likely to result in a rollover of current production cuts. Prices have now stabilised following the biggest flush out of speculative longs since March 2023, and from here we see the peak summer demand period underpin prices in the coming months.Instead, the aforementioned strength in energy this past few weeks has been driven by recovering natural gas prices in the US where the Henry Hub benchmark futures trades near a three-month high at USD 2.5 per MMBtu after hitting a four-low back in Q1 when the market was troubled by a mild winter reducing demand and record production. Responding to weak prices, several US natural gas producers recently announced temporary production cut backs, and the medicine is now slowly starting to work with the overhang of gas in stocks being lowered towards the long-term average. In addition, LNG exports, an increasingly important source of demand has recovered with supply to Freeport in Texas, a top three exporting terminal, rising to the highest since January following a number of outages. Read More
What does hydrogen mean for central heating?
Hydrogen can be used to heat homes and power existing gas appliances, such as cookers and hobs, unlike heat pumps which only provide heat.
Replacing natural gas with hydrogen has several advantages – but disadvantages too.
Burning hydrogen does not create harmful emissions, unlike natural gas which releases carbon dioxide.
Households should not need to make any adjustments to their boilers, meters or pipes if hydrogen of up to 20 per cent is mixed with natural gas.A report by HyDeploy found that meters were not affected by introducing one-fifth hydrogen to the gas supply.Hydrogen is more explosive and more prone to leaking, as it is a smaller molecule than natural gas so can find its way through smaller cracks. Read More
Porsche Museum has been presenting the history and allure of the brand in a lively and modern way. It is the company’s calling card and brand ambassador – as well as a meeting place for fans from all over the world. To date, it has given six million people the opportunity to experience a fascinating journey through the history and development of the sports car manufacturer.The Porsche Museum is not just a place where historical cars are showcased and their history documented, but also a living space with regularly changing exhibits and special exhibitions. It has established itself as the company’s calling card and brand ambassador. By constantly developing our offerings, with the most recent example being the online admission ticket, we are expanding our museum into a multimedia experience. In addition, the human factor plays an important role: the team works every day to create an unforgettable experience for our visitors, who also come face to face with the innovations and passion that shape the history of the Porsche brand in our museum – and I mean this in the literal sense. We focus strongly on the needs of our visitors. Read More
Porsche is launching more cars than ever before, the largest gathering of car enthusiasts, art connoisseurs, food lovers, music aficionados and family-friendly entertainment in the Middle East returns for a fourth edition at ‘The Slab’ in the Dubai Design District on 23-24 November 2024. In just three years, Icons of Porsche has established itself as the leading car festival in the Middle East with over 50,000 fans celebrating not only all things related to the past, present and future of Porsche, but also regional arts and culture, cuisine and entertainment for the whole family.
Icons of Porsche has developed to become the annual highlight for Porsche fans globally as well as for anyone who shares an automotive passion in classics, motorsport or futuristic new prototypes. Debuted in 2021, Icons of Porsche has grown exponentially each year in terms of attractions and visitor numbers and was one of the highlights of the world-wide 75th Porsche anniversary celebrations last year.
“Icons of Porsche just keeps getting better. We have nearly doubled our visitor numbers year on year since it began in 2021, making it the largest car festival in the Middle East,” said Dr. Manfred Bräunl, Chief Executive Officer of Porsche Middle East and Africa. Read More
The Porsche Mobil 1 Supercup kicks off the new season coming weekend at the Emilia-Romagna Grand Prix. Once again, the calendar includes eight races as part of the Formula 1 support programme. At the season opener in Imola, Italy, the flat-six engine of the Porsche 911 GT3 Cup cars will run on predominantly fully synthetic fuel for the first time. By using so-called eFuels, Porsche’s international one-make cup takes the next step towards making motor racing as CO₂-neutral as possible. Thirty drivers have submitted their entries for the season opener, including new Porsche Junior Alessandro Ghiretti.
The 2024 season gets underway in Emilia-Romagna: This Sunday (19 May), the lights turn green for the first round of the 2024 Porsche Mobil 1 Supercup in Imola, Italy. The calendar once again features eight races as part of the European Grands Prix. Twenty-four drivers have signed up to tackle the 32nd Supercup season. They represent eleven nations, including Australia, South Africa and North Macedonia. Germany, the Netherlands and France are represented by the highest contingent with five drivers each.
New Porsche Junior Alessandro Ghiretti returns to the Porsche Mobil 1 Supercup as the 2023 rookie champion. The 22-year-old Frenchman’s teammate at the France-based Schumacher CLRT team is Larry ten Voorde; two-time title winner from the Netherlands. Britain’s Harry King is another seasoned Supercup specialist who will line up on the grid. The BWT Lechner Racing driver concluded last season in third place overall. Read More
Brazilian scientists Micael Carmo and Fernando Catalano have been selected as finalists by the European Patent Office (EPO) in the ‘Non-EPO Countries’ category of the European Inventor Award 2024 in recognition of their contribution to sustainable aviation. They were chosen from over 550 candidates for this year’s edition. The award ceremony will be held on July 9 in Malta. The popular prize voting link is available at: European Inventor Award (cstmapp.com)
The two inventors respectively represent the Embraer and the research center teams coordinated by University of São Paulo (USP) that participated in studies to implement engineering methods and solutions to design quieter aircraft. The technology breakthrough contributed to reducing the noise footprint of Embraer’s new generation jet, the E2, by 65%. The E2 also has 25% lower CO2 emissions per passenger than the previous model, and this reduction in emissions can be increased by up to an impressive 85% with 100% Sustainable Aviation Fuel (SAF).
Funded through a collaborative effort between Embraer, the Financing for Studies and Projects (FINEP), and the Research Assistance Foundation of the State of São Paulo (FAPESP), the “Brazilian Silent Aircraft” program spearheaded by the company, in partnership with research centers from Brazil, England, Germany and the Netherlands, involved more than 200 researchers, granted several patents, and generated important contributions for the development of more efficient jets. Read More
A C-390 Millennium aircraft from the Embraer flight test area landed today at the Canoas Air Base with an additional 18 tons of donations for families impacted by the floods in Rio Grande do Sul, in the South of Brazil.
Since last week, Embraer and the Department of Aerospace Science and Technology (DCTA) from the Brazilian Air Force based in São José dos Campos, São Paulo, have been working together to expand national support to the cities in a state of public calamity in the South of Brazil.
The integration of multiple modes of transport has enabled Rio Grande do Sul to receive non-perishable food, drinking water, cleaning products, and personal hygiene items, among others, collected by both institutions. It is expected that around 100 tons of donations will be shipped as a result of the collaborative efforts between Embraer, its employees, DCTA, and Embraer High Schools.
Through the Embraer Institute, the company also formed a partnership with the NGO Visão Mundial Brasil to coordinate, together with Civil Defense and other suppliers, the distribution of donations. People interested in helping victims can make financial contributions via the website https://visaomundial.org/emergencia-RS/
The joint humanitarian action is part of the Embraer Institute’s “Climate Emergency” program, which supported families impacted by the rains in Recife in 2022 and on the North Coast of São Paulo last year. Read More
Peugeot Sport formalizes a new partnership with the Nedey Automobiles Group, a renowned dealership in the Franche-Comté region, marking the beginning of a significant collaboration for both brands. Nedey Automobiles, established for decades as an institution in the automotive landscape of the Montbéliard and Belfort region, embodies a deep and historical attachment to the PEUGEOT brand. As a long-standing dealership, Valère Nedey, his CEO, has always shared the values of quality, training, and commitment that characterize PEUGEOT. This strong and enduring relationship between the two brands reflects the importance of local ties and the mutual trust that drives this collaboration. As part of this partnership, Peugeot Sport entrusts Nedey Automobiles with the management of its fleet of vehicles. This is a strategic decision for the team in its logistical organization during its European races. The dealership will provide the cars allowing the team to travel to races at Spa and Le Mans, and other team events. Read full article
In a landmark memorandum of understanding (MoU) with TSR Recycling GmbH & Co. KG, Mercedes-Benz is aiming to substantially advance its circularity strategy in relation to end-of-life vehicles. The MoU relates to the recovery of secondary materials through so-called “urban mining”. With this pilot project Mercedes-Benz expects to gain a deeper understanding of the potential of post-consumer materials in Europe, focusing on steel, aluminium, polymers, copper and glass. Together, the two companies plan to analyse the demand for and source of secondary materials and conduct a commercial evaluation. Thereby, Mercedes-Benz makes another step towards establishing a true closed-loop approach for end-of-life vehicles.The partners intend to develop activities that will provide access to material flows that would otherwise be exported to other sectors and countries. The aim is to avoid so-called downcycling, whereby recycled materials are subject to a loss of quality. One current example is a planned cooperation with TSR and another tier-1 supplier for recycled aluminium. This first-of-a-kind material has an 86-percent content of post-consumer recycled aluminium and reduces CO₂ emissions by 73 percent. First press tests for prototype parts have been successful. Evaluation is ongoing and Mercedes-Benz looks forward to putting this into series production as soon as possible.
By working directly with partners, the company is pursuing its responsibility to actively drive the expansion of the circular economy in the future. Such initiatives are central to achieving Ambition 2039, which aims to make the fleet of new passenger cars net carbon-neutral over the vehicles’ entire lifecycle by 2039. . Read full article
Mercedes-Benz, the world’s oldest car manufacturer, has been reinventing the car over and over since 1886. As it does so, the brand continually sets new standards, while also keeping pace with social change. The history of the company is correspondingly rich in events and stories. Here is a brief summary of some of the important anniversaries and milestones from its history. Read full article
Bentley Motors is extending both the visual impact and dynamic ability of the Bentayga even further through its Mulliner bespoke division, with the launch of a global 20-car collection named the Apex Edition. Featuring ultra-strong, lightweight 22” Mulliner carbon wheels teamed with carbon ceramic brakes, it will be offered in a choice of six unique specifications curated by Mulliner’s design team. All include a central painted livery stripe extending over bonnet and roof, a first for the Bentayga. Even rarer will be a specification offered only to owners of the Continental GT Le Mans Edition who will be able to commission an Apex Edition Bentayga in matching trim and livery.
With 550 PS and a specification that includes active anti roll and rear-wheel steering, the Bentayga S is the sporting flagship of Bentley’s luxury SUV line-up. Now the Bentayga Apex Edition delivers even greater agility and braking performance thanks to its carbon wheels and carbon ceramic brakes, making it the most dynamic-looking and driving Bentayga ever.
The most dynamic Bentayga ever
The Apex Edition is based on the Bentayga S, which features Bentley’s potent 4.0-litre, twin-scroll turbocharged V8 petrol engine. This develops 542 bhp (550 PS) and 568 lb.ft. (770 Nm) of torque, with a 0-60 mph (0–100 km/h) time of 4.4 (4.5) seconds and a top speed of 180 mph (290 km/h). With Bentley Dynamic Ride active anti-roll control and rear-wheel steering fitted as standard, its exhilarating performance is enhanced by the sound of its free-flowing sports exhaust.
These dynamic characteristics are further enhanced by the Apex Edition’s 22” Mulliner carbon wheels, which were developed specifically for Bentayga in collaboration with specialists Bucci Composites. Together, the four wheels save 24 kg in unsprung mass. Carbon fibre not only provides a significant weight saving, but also offers the additional benefits of increased strength and stiffness. This leads to a number of fundamental benefits: Read More
The six bespoke masterpieces that make up the Baby II Type 35 Centenary Edition family have each been elegantly crafted and uniquely designed with livery inspired directly by the six Bugatti Type 35 racecars that left a lasting legacy on both the automotive and motorsports worlds 100 years ago.
Hand-built by The Little Car Company artisans at their headquarters in Oxfordshire, UK, the scaled Bugatti models feature aluminum bodies, brass identification plates within the cockpit and a stunning Bleu de Lyon paint scheme reminiscent of the six original Type 35 racecars.
Using the top-of-the-range Pur Sang Bugatti Baby II architecture, the Baby II Type 35 Centenary Edition examples are decorated with a unique chassis number to match each of the original cars, confirmation of the power output and a unique designation of ‘1 of 1’ for each model. In addition, the Baby II Type 35 Centenary Editions are decorated with hand-painted entry numbers on the radiator, hood and boat tail in Blanc.
The body construction of each model, all undertaken by hand, is intricately coupled with exclusive detailing such as lockwire additions and custom louvres to match each original Type 35, further paying homage to Bugatti’s relentless pursuit of excellence on the racetrack.
The legendary Type 35’s dynamic debut at the 1924 Grand Prix de Lyon will forever be remembered, when these remarkable race cars made an instant impact, driven with high-performance skill by Leonico Garnier (#21), Jean Chassagne (#7), Pierre de Vizcaya (#18), Meo Costantini (#22) and Ernest Friderich (#13). A sixth Type 35 – the original prototype – was kept in reserve by Ettore Bugatti.
The Type 35 went on to achieve over 2,500 victories and podium finishes across a 10-year period, becoming the most successful racing car of all time.
A homage to founder Ettore Bugatti’s original design, the Bugatti Baby II is a 75% scale, electrified reimagining of the famous Type 35. The Bugatti Baby II has quickly become a modern-day design icon, representing an acclaimed contemporary tribute to Ettore’s original masterpiece, the Bugatti Baby, built in 1926. Read More
Vestas has signed a conditional agreement for the supply of turbines for a large-scale offshore wind power project with two construction phases in Northern Europe with a combined capacity above Vestas’ current disclosure threshold of 1 GW. If and when the agreement translates into firm and unconditional orders, Vestas will disclose these in accordance with the company’s disclosure policy. Read More
Lilium N.V. (NASDAQ:LILM), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet and global pioneer in Regional Air Mobility (RAM), today announced it has started construction of an advanced test facility for integration and certification testing of the Lilium Jet. Designed in partnership with global engineering group SEGULA Technologies and located at Lilium’s headquarters near Munich, Germany, the state-of-the-art facility is due to become operational in late Summer 2024.
The test site will house a complete, fully integrated aircraft and be used for testing of the Lilium Jet’s avionics, flight controls, propulsion system and electrical power system. As part of the Lilium Jet’s certification campaign, the facility will be used to simulate flights and verify the performance of the aircraft through multiple flight profiles.
Alongside the building of the first Lilium Jet, which began at the end of 2023, the construction of the test site represents an important next step on Lilium’s path towards first piloted flight, targeted for the end of this year, and type-certification of the Lilium Jet. As an EASA Design Organization Approval holder, Lilium is qualified to undertake conformity of test articles and testing to demonstrate compliance against the applicable certification basis. The test facility will enable Lilium to plan and perform such tasks independently of EASA with an agreed level of involvement.
Covering a total area of 26,000 sq. feet (2400 m2), the test facility will comprise an aircraft mounting frame for aircraft loads and moments, an airflow management system to enable representative flight conditions, and charging and cooling equipment for the aircraft’s batteries. Aerodynamic testing will be supported by a powerful 1.2-megawatt blower, supplied by international engineering company VIRO, that can simulate cross- and tailwinds of up to 40 mph (65 km/h).
For its cutting-edge expertise in test rigs, calculations, simulations, and for its comprehensive multidisciplinary approach, SEGULA Technologies was selected by Lilium as partner for the design of the test facility. The project team, comprising approximately thirty experts across several sites (including Germany’s Cologne and Munich, and France’s Vitrolles and Lyon offices), brings specialized skills in mechanical design, calculation, and fluid simulations. Read More
The Federal Government of Germany and the Free State of Bavaria have commissioned the state development bank KfW in Frankfurt to conduct due diligence on Lilium (NASDAQ: LILM), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet and global pioneer in Regional Air Mobility (RAM), as part of the customary state support process. Once the diligence is completed and results satisfactory, Lilium expects to receive guarantees from the Federal Government and the Free State of Bavaria as security for a KfW loan, the exact amount of which is yet to be determined.
“We would like to thank those responsible in Berlin and Munich for their decision and the constructive cooperation over the last few weeks,” said Lilium CEO Klaus Roewe. “We expect due diligence to be swift as transparency is a daily routine for us as a listed company.” Roewe continued:
“Electrification is in strong public interest as a contribution to the necessary decarbonization of the industry. German government support is not only about creating a level playing field with the USA and China, but also about Germany signaling to the financial markets that innovations and new technologies are supported in Germany.”
Lilium is a world-leading pioneer in electric aviation and the only manufacturer worldwide with a certification basis for a powered lift eVTOL aircraft in Europe and the USA. Founded in 2015 by four graduates of the Technical University of Munich, and located at the Oberpfaffenhofen airport, near Munich, Germany, Lilium currently employs a workforce of over 1,000, more than 80% of whom work in highly specialized engineering and manufacturing fields. Lilium has a very international workforce and is building a strong European set-up: Lilium N.V. is registered in The Netherlands, Lilium has its Headquarters, design/engineering and industrial facilities in Munich, and a flight test center in Spain. The company recently announced its discussions with the French government to explore the expansion of its industrial footprint into France. Read More
Baker Hughes Rig Count: : U.S. +1 to 604 Canada -2 to 114
U.S. Rig Count is up 1 from last week to 604 with oil rigs up 1 to 497, gas rigs unchanged at 103 and miscellaneous rigs unchanged at 4.
Canada Rig Count is down 2 from last week to 114, with oil rigs down 3 to 57, and gas rigs up 1 to 57.
International Rig Count is up 7 rigs from last month to 978 with land rigs up 7 to 743, offshore rigs unchanged at 235
The Worldwide Rig Count for April was 1,726, down 67 from the 1,793 counted in March 2024, and down 82,from the 1,808 counted in April 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 17 May 2024 | 604 | +1 |
| Canada | 17 May 2024 | 114 | -2 |
| International | April 2024 | 978. | +7 |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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