London, 02 February 2024, (Oilandgaspress): – China’s economic slowdown, fluctuations in US crude inventories, OPEC’s moves, and Middle East tensions are determining the short-term outlook for crude oil prices. US crude production stood at 13.31 million barrels per day, mainly from Texas and New Mexico according to Energy Information Administration (EIA) reports.
Viasat, Inc. announced AST (Applied Satellite Technology), a leading global innovator in satellite communication solutions, has joined its ELEVATE program.
ELEVATE is a growth program, ecosystem and marketplace for ambitious IoT solution providers, connectivity wholesalers, enablers and OEMs who want to work with Viasat to use its network and footprint to scale. As an ELEVATE partner, AST will provide globally trusted connectivity solutions that deliver real customer value by enabling complete remote control to connect people, systems, and assets even in the remotest locations.
As part of the program, AST will benefit from Viasat’s global L-band network – amplifying its ability to provide Internet of Things (IoT) and satellite connectivity services. This aims to support customers make data-driven decisions that enhance performance, improve efficiency, and reduce operating costs.
For customers, partnering with AST also means benefitting from its broad cross-industry knowledge, customer-centric mindset, 24/7 global technical support, dedicated account managers, and experienced engineers. AST will also gain access to Viasat’s broader partner network, creating opportunities to collaborate on additional niche communications solutions for its customers. Read full article
Terra-Gen and Mortenson have announced the full substantial completion of the Edwards & Sanborn Solar + Energy Storage project, the largest solar plus energy storage project in the United States. Mortenson was the full Engineering, Procurement, and Construction (EPC) contractor on both the solar and energy storage scopes for this vanguard project in the energy industry.
This project stretches over 4,600 acres and includes more than 1.9 million First Solar modules. In total, the project generates 875 MWdc of solar energy and has 3,287 megawatt-hours of energy storage with a total interconnection capacity of 1,300 megawatts. The project supplies power to the city of San Jose, Southern California Edison, Pacific Gas & Electric Co. and the Clean Power Alliance, and Starbucks, among others. A portion of the project is situated on the Edwards Air Force Base and was the largest public-private collaboration in U.S. Department of Defense history. The project uses LG Chem, Samsung, and BYD batteries.
“Now fully operational, this facility is a transformational project in the industry and is providing resiliency to the grid” said Brian Gorda, vice president of engineering at Terra-Gen. “The Mortenson team was tasked with an extremely difficult goal to build this project, and they proved to be the right partner for the job. We are excited to bring Edwards & Sanborn online and benefitting the people of California.”
In total, more than 1,000 craftworkers contributed to the project and achieved outstanding safety results, which included more than a million hours injury-free and a safety award by the California Association of General Contractors. Read full article
Hopewind, the global leader in green energy solutions, is proud to play a pivotal role in advancing vocational solar education in Georgia. Through a strategic partnership with Innovation Energy LLC, Hopewind’s cutting-edge PV inverters have been selected for a demonstration project aimed at promoting solar education throughout the country. The Ministry of Education and Science of Georgia, the Skills Agency Georgia, and the Eberhard-Schöck-Stiftung have signed a trilateral memorandum of cooperation, marking a significant milestone in the advancement of solar education. As a result of this collaboration, the Eberhard-Schöck-Stiftung generously donated a state-of-the-art 60 kW solar station to Mermisi College. Powered by Hopewind inverters, this installation serves as a shining example of the technological expertise and reliability associated with Hopewind’s solutions. Read full article
Hyundai Motor America reported total January sales of 47,543 units, a 9% decrease compared with January 2023. Hyundai set total sales records in January for Santa Fe PHEV (+273%) and Tucson PHEV (+927%), Palisade (+14%), Kona (+14%) and Kona EV (+37%). Hyundai’s electric vehicle sales grew 42%, while battery-electric and plug-in hybrid models saw a combined year-over-year increase of 77%.
“Coming off a record-breaking 2023, January was a difficult month with economic challenges and interest rates making it a tough retail environment,” said Randy Parker, CEO, Hyundai Motor America. “There were bright spots with sales of electric vehicles and plug-in hybrid achieving substantial year-over-year growth, and our all-new Sante Fe starting to arrive at dealerships.” Read full article
The Opel Corsa continues to remain popular with buyers across Europe. According to official data, the supermini with the Blitz was the best-selling car overall in Greece in 2023. New registrations of over 5,800 gave the Corsa a total market share of 4.3 per cent and an impressive segment share of 17.4 percent in the small car segment.
“The Opel Corsa has always come with a convincing package of innovation and affordable state-of-the-art technology. This remains the case even 40 years after the nameplate was launched. The success reflects the excellence of Opel, and we anticipate further impetus for the Opel brand in Greece,” said Polychronis Syngelidis, President & CEO Opel Hellas.
The ongoing popularity of the Corsa was the main driver behind Opel’s commercial success in Greece in 2023. The brand with the Blitz doubled its overall sales compared to the previous year was the second most popular passenger car brand with a market share of 7.7%.
Earlier this year, Opel already announced that the Corsa has successfully defended its title as the most popular small car in Germany. According to official data published by the Federal Office for Motor Traffic (KBA), the Corsa was the best-selling vehicle in the B segment for the third time in a row in 2023. Read full article
FIAT’s newest electric model, the 600e, has been voted as newcomer of the year 2024 by Quattroruote, one of the major Italian automotive magazines.
The Fiat 600e is the favorite car of Quattrouote readers, who voted online on the magazine’s website and had to choose among 20 shortlisted candidates selected by the editorial staff from the most interesting novelties presented in 2023.
Olivier Francois, FIAT CEO and Global Stellantis CMO, commented: “This award truly makes me happy, not only for the prize itself but for what it represents. The discerning and attentive readership of Quattroruote has responded with heartfelt appreciation by honoring the new Fiat 600 which, with the addition of a mild hybrid version later this year, will become the new vehicle for Italian families, with whom we share a century-long love story.”
The award is an important recognition in FIAT’s home-country, which was among the first markets to launch the 500e’s big sister. It is also a sign that Quattroruote expert readers support the Brand’s return to the B segment with its iconic Italian style. Indeed, the Fiat 600e, a further stage in FIAT’s electrification journey, is designed in Italy and embodies Italian beauty and the Dolce Vita philosophy. Fiat 600 already enlarged its lineup with the launch of the 600 hybrid which has been designed to make even easier the transition to a more sustainable and electrified mobility. Read full article
The new Alfa Romeo 33 Stradale has triumphed in the annual contest held by Quattroruote magazine since 2000. With an extraordinary 44.5% of votes, the exclusive “two-seater” won the special prize in the Dream category, confirming the appeal of a custom-built car based on the courage to dream.
Now in its 25th year, since 2022 the prestigious competition – won by Alfa Romeo – has been awarding three special prizes, in the Concept, Dream and Lifestyle categories. The candidates are sports cars or special series, excluded due to their appeal from the shortlist for the “New Car of the Year” award, a coveted title the Italian brand has won several times for the 147 (2001), MiTo (2009), Giulietta (2011), Giulia (2017), Stelvio (2018), and Tonale (2023).
In each of the three special categories, the editorial staff at Quattroruote select four cars and ask their readers to cast their votes on the magazine website and social media channels. The new Alfa Romeo 33 Stradale took an overwhelming victory, ahead of three supercars from renowned international brands.
Made in only 33 exclusive units, which have already sold out, the new 33 Stradale is designed to be a unique, one-off work of art, thanks to an unprecedented level of customization. The new Alfa Romeo supercar is produced in collaboration with the Touring Superleggera coachbuilder according to a unique artisanal process, the highest quality standards, and obsessive attention to detail. Read full article
Lancia Pu+Ra HPE
Lancia Pu+Ra HPE is the brand’s manifesto for the next 10 years, a 100% electric concept car that embodies the brand’s vision in terms of design, interior home feeling, sustainability, electrification and effortless technology. It is a drivable car with an unconventional sleek body for maximum efficiency, with a vision in terms of range, charging time & efficiency. It is the first car of the new Lancia era, a low roof, 4 doors, inspired by the world of Italian interior design, thanks to the collaboration with Cassina, leader in the upscale furniture industry, for a typically Italian home feeling experience. The name Lancia Pu+Ra HPE is based on Pu+Ra, the brand’s new pure and radical design language, whereas HPE stands for High-Performance Electric. This concept car fully embodies the principles of the new Lancia design, where the volumes of the car are created from the intersection of elementary geometric shapes, such as the circle and triangle, combined with certain iconic details of the brand’s heritage, such as the Venetian blinds seen in the Lancia Beta HPE. Lancia Pu+Ra HPE features 70% tactile surfaces made with eco-friendly materials that epitomize the Italian spirit, redesigned tradition and the “home feeling”. Lancia Pu+Ra HPE is the first car equipped with S.A.L.A. infotainment, which centralizes the audio, climate control and lighting functions, enabling the environment inside the car to be adapted at the touch of a button or by the sound of the voice.Lancia Pu+Ra HPE, the brand manifesto for the next 10 years, has won the award in the “Concept” category of the annual Quattroruote survey on the major novelties of the automotive industry. Also this year, in fact, the magazine has reintroduced the historic “Novità dell’Anno” award, now in its 25th edition, for which readers and enthusiasts are asked to vote in three main categories: Concept, Dream, and Lifestyle. Read More
MAYBACH Icons of Luxury regularly sets new standards in eyewear, leather goods and other lifestyle accessories, as well as fashion. The glasses in the current collection will be available either as prescription glasses or sunglasses. Every single item in this exceptional eyewear collection is handcrafted with the utmost care using selected, high-quality materials such as natural horn, fine woods, leather, titanium, 18-carat gold and diamonds. These are elaborately crafted by hand. From turquoise marbled natural horn to 22-carat gold-plated titanium and high-quality ZEISS lenses: the models in the MAYBACH Eyewear Collection have a timelessly beautiful look. In addition to design elements of the iconic vehicle, one unmistakable feature always takes centre stage: the legendary MAYBACH logo with the double M. Read More
Tata Motors,announced that Mr. Sitaram Kandi is being appointed to the role of Chief Human Resources Officer (CHRO) of the company, effective 1st April 2024.
As CHRO, Mr. Kandi will also join the Tata Motors Executive Committee. In his current role, Mr. Kandi heads Human Resources for Tata Motors’ Passenger Vehicle and Electric vehicle businesses and leads Employee Relations and Skill Building for Tata Motors. Mr. Kandi will be taking over from Mr. Ravindra Kumar G.P, who has been serving as the CHRO of Tata Motors since 2018 and will be moving on to a new responsibility within the Tata Group. A career HR professional with thirty years of experience and an alumnus of the Symbiosis Institute of Management Studies, Mr. Kandi has worked on diverse facets of HR and Industrial Relations with global companies including Bosch, Monsanto and General Electric, in India and overseas, prior to joining Tata Motors in 2019. Read More
Alpine and Orient Express Racing Team announce their partnership for 2024 for the 37th edition of the America’s Cup. The two leading French brands share a sporting DNA, where technological, operational and human excellence are at the core of the quest for performance.By teaming up with Orient Express Racing Team in the America’s Cup, the biggest competition in sailing and the world’s oldest sporting trophy with a 174-year history, Alpine also aims to establish its image and reputation internationally.Alpine will be in Barcelona for the America’s Cup Opening Ceremony on 22 August 2024. The brand will be on-site, with a 360° display to support the French team. It will have an area to welcome race fans and will provide a fleet of vehicles to Orient Express Racing Team crew members. Read More
Bugatti Brand Lifestyle’s approach treads a different path to traditional brand licensing work. The business takes great care and consideration to select world-renowned companies that share its values and quality expectations, resulting in products steeped in Bugatti’s incomparable DNA. Even without owning a Bugatti automobile, enthusiasts of the brand can experience the peerless heritage and style associated with Bugatti. This focused strategy in the brand’s expansion trajectory has paid off: Bugatti Brand Lifestyle achieved double-digit percentage growth year-on-year.
The announcement of Bugatti’s first-ever real estate project in the heart of Dubai in May, Bugatti Residences by Binghatti, was perhaps the greatest example of this unique approach in 2023. Not content to simply apply the Bugatti name to a breathtaking building, both brands worked together to design an experience that fully encapsulated the character of the brand as well as the Bugatti lifestyle. In order to make sure each of the 171 Riviera Mansions and 11 Sky Mansion Penthouses uniquely embody the hyper sports car manufacturer’s core identity and uncompromised design approach, Binghatti architects immersed themselves in the Bugatti brand for months before embarking on their initial sketches.
Offering a completely new ‘Art of Living’ in Dubai, Bugatti Residences represent the quintessence of the Bugatti lifestyle. A place where some of the brand’s other longstanding partnerships come together to create a true home for the Bugatti universe, adorned with sensory-rich technologies co-curated with TIDAL that immerse occupants within a soundscape realm like no other. Read More
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $73.46 | Down |
| Crude Oil (Brent) | USD/bbl | $78.37 | Down |
| Bonny Light | USD/bbl | $82.87 | Up |
| Saharan Blend | USD/bbl | $83.15 | Up |
| Natural Gas | USD/MMBtu | $2.04 | Down |
| OPEC basket 01/02/24 | USD/bbl | $ 80.46 | Down |
Rig Count: U.S. -2 to 619 Canada +2 to 232
U.S. Rig Count is down 2 from last week to 619 with oil rigs unchanged at 499, gas rigs down 2 to 117 and miscellaneous rigs unchanged at 3.
Canada Rig Count is up 2 from last week to 232, with oil rigs down 3 to 141, and gas rigs up 5 to 91.
International Rig Count is up 10 rigs from last month to 965 with land rigs up 5 to 740, offshore rigs up 5 to 225. International Rig Count is up 64 rigs from last year’s count of 901, with land rigs up 65, offshore rigs down 1.
The Worldwide Rig Count for January was 1,784, up 45 from the 1,739 counted in December 2023, and down 115, from the 1,899 counted in January 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 02 February 2024 | 619 | -2 |
| Canada | 02 February 2024 | 232 | +2 |
| International | January 2024 | 965 | +10 |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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