London, 14 March 2024, (Oilandgaspress):-Oil prices rose about 3% on Wednesday due to a surprise withdrawal in U.S. crude inventories, a bigger-than-expected drop in U.S. gasoline stocks and supply disruptions after Ukrainian attacks on Russian refineries causing a fire at Rosneft’s biggest refinery.
WTI Crude $80.54/bbl, Brent $84.74/bbl, Opec $82.67/bbl
Crude oil’s steady ascent since December, when Houthi attacks on ships in the Red Sea raised the geopolitical temperature while supporting tighter supply conditions with millions of barrels of crude and fuel being stuck at sea for longer, is showing signs of running out of steam. Recently WTI made an unsuccessful attempt to break above USD 80 resistance while Brent’s upside move was arrested well ahead of key resistance at USD 85. While a recent buildup in hedge funds’ long positioning and the current price behavior support an upside break, we stay skeptical given the lack of a clear catalyst to trigger such a move.
The impact of the crude markets’ inability to break higher, or lower for that matter, can be seen in the narrowing trading ranges with the four-week rolling trading range in Brent and WTI both falling to a ten-year low with a range in WTI this past month of USD 5.3 and just USD 4.2 in Brent. While the geopolitical temperature has moved higher by a few degrees since December we have yet to experience any disruptions, and the market has concluded that such a risk is currently very low. Without OPEC+ supporting prices through supply cutbacks – which on paper total roughly 2 million barrels per day – Brent crude would most likely have traded in the low USD 70’s or perhaps even lower. So, while the efforts have not yielded higher prices many of the producers need to balance their budgets, prices have held steady and high enough to ensure robust production growth from non-OPEC+ members. Not least the US which according to EIA’s latest Short-term Energy Outlook could see production accelerate to a record 13.65m barrels/day in 2025 from 13.19m barrels/day this year. Crude trades higher today after yesterday’s hotter-than-expected US inflation print did little to alter the market’s view on the timing and subsequent depth of incoming growth-supportive US rate cuts. In addition, the market also received a boost after the American Petroleum Institute reported across-the-board reductions in US crude and fuel stocks (see table insert in chart above). Before then the market had slipped after OPEC in their latest monthly update wrote supply cuts had stalled as Iraq for a second month produced around 200k barrels/day above its quota. . Read More
1PointFive, a carbon capture, utilization and sequestration (CCUS) company, announced that AT&T has agreed to purchase carbon dioxide removal (CDR) credits from STRATOS, 1PointFive’s first large-scale Direct Air Capture (DAC) facility that is currently under construction in Texas. The purchase, announced today, is a part of AT&T’s commitment to reduce carbon emissions and become carbon neutral in its global operations by 2035.
STRATOS is designed to capture up to 500,000 metric tons of CO2 annually when fully operational and is expected to be the largest facility of its kind in the world. Under the agreement with AT&T, the captured CO2 underlying the removal credits will be stored through durable saline sequestration.
To further work towards global climate goals, 1PointFive joined AT&T’s Connected Climate Initiative (CCI), a collaborative effort to pursue connectivity-based solutions to reduce greenhouse gas emissions by one gigaton by 2035. The CCI brings together a diverse group of organizations to support the development of Smart Climate Solutions that can utilize AT&T connectivity. 1PointFive’s participation in the CCI is focused on increasing collaboration around carbon removal solutions like DAC that can help cost effectively achieve net zero.
“AT&T’s carbon removal credit purchase is another proof point of the vital role that Direct Air Capture can play in providing a high-integrity and durable solution to help organizations address their emissions,” said Michael Avery, President and General Manager of 1PointFive. “We look forward to working with AT&T to help them achieve their climate goals while furthering our collaboration through the CCI.”
“As we work towards achieving our Gigaton goal, we know that we need to find ways that AT&T connectivity can enable game-changing solutions to reduce greenhouse gas emissions at scale,” said Shannon Carroll, AVP of Global Environmental Sustainability at AT&T. “Together with 1PointFive, we’re committed to driving adoption of high-impact, innovative technologies like DAC to help address climate change.” . Read More
Shell plc published its Annual Report and Accounts for the year ended December 31, 2023.
The 2023 Annual Report and Accounts will be submitted to the Annual General Meeting to be held on May 21, 2024.
The 2023 Annual Report and Accounts can be viewed online or downloaded in pdf format . Read More
During the period from 4 to 5 March 2024, Eni acquired on the Euronext Milan no. 706,279 shares (equal to 0.02% of the share capital), at a weighted average price per share equal to 14.3754 euro, for a total consideration of 10,153,013.75 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. . Read full article
Hyundai Motor America continues to show its support for the LGBTQ+ community as a presenting partner of the 35th Annual GLAAD Media Awards. This is the eighth year that Hyundai has been a sponsor of the legendary LGBTQ+ celebration that honors those in the media who have shown exemplary achievements for fair, accurate, and inclusive representation of the LGBTQ+ community and the issues that affect their lives. Hyundai will participate in the shows taking place in Los Angeles on March 14 and New York City on May 11.
As a part of the event, Hyundai will partner with dynamic street artist Corie Mattie aka “LA Hope Dealer” to create an art installation that features letters of support written to queer youth. Extending the impact, there will be a writing station where GLAAD guests can write letters to queer youth in Oklahoma. For every letter collected, Hyundai will donate $10 to GLAAD to further fund their youth outreach. Hyundai will also work with Mattie to curate vehicle wraps inspired by the collected letters for the 2024 Santa Fe and IONIQ 5. These wrapped vehicles will be on display and will be used for future pride month activities.
“For nearly a decade Hyundai has stood as an advocate alongside GLAAD as a proud sponsor of the GLAAD Media Awards,” said Erik Thomas, director, experiential and multicultural marketing, Hyundai Motor America. “As the awards show continues to evolve, Hyundai is always looking for creative ways to amplify LGBTQ+ voices at the shows, while also integrating our newest vehicles in a thoughtful and meaningful way.”
“Hyundai Motor America’s continued support of the LGBTQ+ community as a presenting sponsor of the GLAAD Media Awards enables our work to amplify inspiring LGBTQ+ voices at the event and truly makes a difference in GLAAD’s work to accelerate acceptance year-round,” said Sarah Kate Ellis, president and CEO, GLAAD. “Hyundai’s commitment to uplift LGBTQ+ artists at the GLAAD Media Awards is a testament to the brand’s dedication to support our community in authentic and inspiring ways.” Continuing the support of creative arts of all forms at GLAAD, Hyundai will also partner with LGBTQ+ musical artist David Archuleta to perform live during the Afterparty. The sponsorship also extends across digital, social and earned media opportunities. Viewers can tune in to watch the GLAAD Media Awards which will begin streaming on Hulu on March 29th. Read full article
Homeowners seeking to reduce their carbon footprint while enjoying energy savings can now take advantage of the combined benefits of Air source heat pumps, Solar PV, and battery systems. Let’s explore how this powerful trio can revolutionise your home and contribute to a greener future.Air source heat pumps operate on the principle of transferring heat rather than generating it, making them highly efficient and cost-effective in heating your home. By utilising freely available heat from the air, air source heat pumps can significantly reduce your reliance on traditional energy sources, resulting in substantial energy bill savings. They also produce lower carbon emissions compared to conventional heating systems, making them a sustainable choice that helps combat climate change. Additionally, air source heat pumps could provide cooling during hot summer months with the right setup, offering a versatile solution for maintaining a comfortable indoor environment throughout the year.
Solar PV systems convert sunlight into electricity without producing greenhouse gas emissions or relying on depleting fossil fuels, making them truly sustainable energy sources. By generating your electricity on-site, you become less dependent on the grid, providing greater control over your energy consumption and costs. Solar PV systems can significantly reduce your electricity bills, as the energy generated from the sun offsets the need for conventional grid-supplied power. Installing solar panels can increase the value of your home while providing a long-lasting energy solution that pays dividends for years to come. Choosing solar power helps preserve the planet for future generations by reducing reliance on non-renewable energy sources and decreasing carbon emissions. Read full article
Boeing is committing $250,000 to assist with recovery and relief efforts in the aftermath of wildfires in the Texas panhandle and western Oklahoma.
Funding from the Boeing Charitable Trust will support the following organizations:
$100,000 to the Texas & Southwestern Cattle Raisers Association (TSCRA) Disaster Relief Fund for assistance funds for impacted ranchers in Texas and Oklahoma.
$75,000 to American Red Cross for aid when disasters strike, ensuring those impacted have the ability to seek safe refuge, feed their family members and have access to compassionate care.
$75,000 to Amarillo Area Foundation’s Panhandle Relief Fund to support ongoing recovery efforts in impacted communities.
“Boeing’s contributions are a reflection of our commitment to the places we call home,” said Ziad Ojakli, executive vice president of Government Operations at Boeing. “We’re glad we can provide support as communities come together for recovery and healing in the aftermath of the wildfires.”
“The Amarillo Area Foundation’s Panhandle Disaster Relief Fund is being used to address the immediate needs of those impacted by the devastating wildfires in our region. We are currently focused on food, water, shelter, and clothing,” said Clay Stribling, President/CEO. “We will also be working closely with regional providers to address long term needs like grief and trauma counseling, livestock and agriculture losses, first responder organizations and their readiness, and other needs that arise as we more closely identify the damage done to our communities.” Read full article
In a message to employees, Stan Deal addresses recent assessments of Boeing’s commercial airplanes unit and shares the actions the company is taking and where it needs to continue to improve. “As we conduct quality stand downs across our company, your improvement ideas have been invaluable. We have used your feedback, and those from our regulator and customers, to take immediate actions to strengthen our safety and quality. These actions are central to a comprehensive plan we will soon deliver to the FAA. In this update, I want to address two recent independent assessments of our operations, discuss our actions to date, and call out two things we must all do.
FAA production audit: FAA inspectors went deep into our Renton factories in January and February to audit our production and quality control. They examined 737 work instructions, monitored mechanics, inspected for defects, and more. The vast majority of our audit non-compliances involved not following our approved processes and procedures. Read full article
Sales growth of electric vehicles in the U.S. has started to slow, and polls show it’s due in part to anxiety over running out of battery power and too few charging stations. But Rick Wilmer, the new CEO of ChargePoint, an EV charging network, says the number of charging stations and plugs is increasing rapidly.
ChargePoint, based near San Jose, California, builds and maintains stations for businesses, apartment buildings and others who want them to attract customers.
Wilmer said in an interview with The Associated Press that ChargePoint is seeing increased use of its roughly 34,000 charging stations and experiencing growth that should rise as interest rates fall. His comments are edited for length and clarity. Read full article
Hyundai will resume its fight for the 2024 Drivers’, Teams’ and Manufacturers’ Championship titles at the Alan Jay Automotive Network 120 race at Sebring International Raceway in Sebring, Florida on March 14-15.
After a strong start to the IMSA Michelin Pilot Challenge (IMPC) season at DAYTONA International Speedway, which saw a double podium for Hyundai and Bryan Herta Autosport (BHA), Hyundai will look to continue its tradition of success at Sebring International Raceway. Hyundai has achieved podiums at Sebring in its last four visits to the racetrack, highlighted by a double podium finish in 2023.
The Bryan Herta Autosport No. 76 Elantra N TCR, piloted by Denis Dupont and Preston Brown for Sebring, currently occupies second in the Drivers’ Championship standings with the No. 98, piloted by Mason Filippi and Mark Wilkins, close behind in third.
Defending champions Harry Gottsacker and Robert Wickens in the BHA No. 33 Elantra N TCR will look to bounce back after a stellar pole position by Gottsacker at Daytona did not lead to success in the race following an on-track incident that resulted in the No. 33 car sustaining damage. Harry Gottsacker and Robert Wickens are familiar with success at Sebring as a driver duo, achieving second place in their 2023 campaign at the iconic racetrack.
Hyundai will welcome StarCom Racing to its formidable TCR lineup at Sebring as the team makes their IMPC debut with No. 12 Elantra N TCR, fielding co-drivers Nick Tucker and veteran sports car pilot Andy Lally. The Victor Gonzalez Racing Team (VGRT) will see Victor Gonzalez, Jr. and Tyler Gonzalez return to the No. 99 Elantra N TCR, and newcomer Chase Jones joins the No. 80 VGRT Elantra N TCR alongside co-driver Morgan Burkhard. The No. 80 TCR crew will see a special addition as Burkhard’s parents will join the pit crew for VGRT at Sebring.
The second round of the IMPC schedule is set for Friday, March 15, 2024, with the green flag flying at 3:15 p.m. ET for the two-hour event. Read full article
Order issued by the Securities and Exchange Board of India
Capricorn Energy PLC today announces that the Securities and Exchange Board of India (SEBI) has issued an order dated March 12, 2024 related to the non-payment of a dividend to Capricorn UK Holdings Limited by Vedanta Limited (Vedanta). Vedanta has been ordered to pay approximately $9.5m within 45 days of the date of the order. Vedanta is entitled to challenge the order prior to expiry of the 45-day period. Read full article
McDermott announced Linda Borne has been named Senior Vice President and Chief Human Resources Officer. Borne previously served as Vice President of Human Resources (HR) and a member of the company’s executive committee since 2023, leading the global HR team and progressing McDermott’s People Strategy.
Borne joined the McDermott HR team in 1989 on a project and since then she has led regional and business line HR and the implementation of a global management system. Most recently, she served as Vice President of HR Operations across all of the company’s business lines.
“Linda brings extensive experience to her new position and is a valued member of our executive committee,” said Michael McKelvy, McDermott’s President and CEO. “Her global knowledge of human resources and focus on strategic initiatives further a positive work experience for our people.”
Borne is a member of several HR industry organizations, including Evanta. She earned a bachelor’s degree in Business Administration from Nicholls State University, Thibodaux, Louisiana. . Read More
Solar Energy Industries Association, or SEIA. announced the 2023 numbers in a report released with analytics firm Wood MacKenzie. The 32.4 gigawatts that came online in the United States last year shattered the previous high of 23.6 gigawatts recorded in 2021 and accounted for 53 percent of new capacity. Natural gas was next in line at a distant 18 percent. The US solar industry installed 32.4 gigawatts-direct current (GWdc) of capacity in 2023, a remarkable 51% increase over 2022. This was the industry’s biggest year by far, exceeding 30 GWdc of capacity for the first time. Every single segment set annual installation records except for community solar, which was within 5 MWdc of an annual record.
Growth in 2023 was due to slightly different factors for each segment. Residential solar grew 12%, adding 6.8 GWdc of capacity as installations surged in California as customers rushed to take advantage of more favorable net metering rules before the switch to net billing in April. This helped to offset declines in other states mostly due to interest rate increases.
Commercial solar saw a similar increase in California, leading to national growth of 19% over 2022. Community solar grew just 3% compared to 2022. While this segment continues to struggle with interconnection delays and permitting challenges, strong pipelines in states like Illinois, New Jersey, and New York helped contribute to year-over-year growth. . Read More
The US Department of Energy (DOE) and the state of Michigan have awarded a collective USD 75 million in cash incentives and grants for Nel’s next electrolyser production facility in Michigan. “The support from the Department of Energy and the state of Michigan is crucial for realizing our factory, which will create new green industrial jobs and be a significant contribution to the energy transition,” says Nel’s President and CEO, Håkon Volldal.
“It is encouraging to see the Department of Energy taking these strategic steps to stimulate a clean energy economy, and we appreciate their long-time support to take our products from R&D to commercial products,” he says.
On 13 March, the Department of Energy announced that they have granted Nel USD 50 million in direct investment support for the company’s planned new US gigafactory and workforce development initiatives in the Detroit region. Partnering with General Motors, Macomb Community College, Wayne State University’s College of Engineering, and others, DOE’s investment will further enhance domestic electrolyser manufacturing production capacity while building a robust clean hydrogen value chain and an industrialized manufacturing training program.
In parallel, the state of Michigan awarded USD 25 million in direct investment support to lead the nation in the clean energy transition.
“By harnessing our Make it in Michigan Competitiveness Fund and partnering with the Biden-Harris Administration, we are creating more than 500 good-paying, high-tech jobs in Plymouth,” says Governor Whitmer. “Today’s investment in Nel Hydrogen will create a hydrogen production facility and ensure we stay on the cutting-edge of clean energy production and advanced manufacturing. Let’s keep working together to bring jobs and projects home as we grow our economy and deliver for Michigan families.”
“Today’s announcement is another example of how Michigan is leading America’s technology and clean energy future,” says Lieutenant Governor Garlin Gilchrist II. “Because of a matching investment from the Michigan Competitiveness Fund, this federal grant will enable our partners to create more than 500 good-paying, high-tech jobs in Plymouth. Governor Whitmer and I will keep working to create jobs and win projects that will grow our economy and help more people ‘make it’ in Michigan.”
Nel has previously been awarded approximately USD 50 million from the state of Michigan in support of this electrolyser production facility (see the press release issued on 8 July 2023). Total support from federal and state authorities amounts to approximately USD 125 million.
Fully built out, the Michigan site is expected to have an annual nameplate production capacity of 4 GW. In the planned new facility, Nel will manufacture its next-generation electrolyser technologies: the PEM stacks currently being developed together with General Motors, and pressurized alkaline stacks.
A final investment decision has not yet been made and depends on market demand for electrolysers. Read More
The EU Commission has proposed to reduce the bloc’s total emissions by 90% in 2040, compared to 1990. T&E’s roadmap analyses how to reduce emissions from the EU’s car fleet by 86% in 2040 compared to 2015:
The car CO2 standards, agreed in 2023, will reduce car fleet emissions by 57% in 2040 compared to 2015;
Avoiding growth in car activity – by stopping new road construction, shifting to public transport, and fuel pricing – will save 14%;
Scrapping old combustion engines and replacing them with electric cars and public transport will save 7%;
Faster electrification of company car fleets will save 5%;
Retrofitting combustion engines to become battery electric cars will save 4%.
Lucien Mathieu, cars director at T&E, said: “Keeping the phase-out of combustion engines is the single most important cars policy to meet the EU 2040 climate goal. But no measure will be enough on its own. Avoiding additional road traffic, scrapping old petrol and diesel cars, and electrifying company cars are all needed to bring down emissions from the car fleet.” Alternative fuels, like e-fuels, are not needed to reduce CO2 emissions from the existing fleet of cars, the report finds. Running cars on e-petrol is the most expensive option, according to the analysis. E-fuels also have the highest lifecycle emissions of the measures analysed, and they emit air pollution when burned. T&E said that instead of combustion car-based solutions that make mobility unaffordable, the focus should be on providing clean solutions for all including drivers who need a car. Read More
The EU Parliament has agreed on new rules to accelerate the uptake of zero-emission trucks by granting trucks four extra tonnes to accommodate electric and hydrogen technology. But, T&E warns, by allowing this same weight increase for diesel trucks, lawmakers are giving polluting trucks a competitive advantage.
Between key national borders, until at least 2035, the weight limit for all trucks, including diesel, will be 44 tonnes. While long-distance electric trucks need the extra weight to compensate for batteries, diesel ones will simply increase their cargo capacity. T&E calls on lawmakers to avoid making freight moved by diesel trucks cheaper and putting electric trucks at a disadvantage.
Bernardo Galantini, freight officer at T&E, said: “The extra weight allowance should only support long-distance electric trucks by ensuring no payload is lost to accommodate batteries. Extending the same benefit to polluting diesel trucks instead only accelerates diesel sales, by allowing them to carry more than clean trucks. European governments should stop this diversion from a shift to zero emissions.” Lawmakers have also agreed to harmonise the use of extra long and heavy trucks, so-called gigaliners. Although this includes an impact assessment on the risks of modal shift and road safety, the lack of a zero-emission requirement for these vehicles will attract further unwanted investments into fossil fuel-powered trucks, says T&E. Read More
Twenty five companies have been singled out in the latest edition of the Travel Smart Ranking, which assesses the efforts and commitments made by multinationals to reduce business travel by air. They are considered poor performers on the basis of two criteria: 1) high CO2 emissions due to employee air travel; 2) no credible targets to reduce these emissions, despite often promoting their green credentials. These 25 multinationals are responsible for 36% of business travel emissions recorded in the ranking. The analysis shows that if just these top 25 flyers cut their business flying in half, it would achieve a third of the emissions reductions needed by 2025 from the 328 companies in the ranking[1]. The 5.9 Mt of CO2 saved would be equivalent to the emissions produced by 3 million cars in a year. The analysis shows a stark juxtaposition between companies in the same industry – with ambitious companies setting targets and laggard companies refusing to do so year after year. Among the top flyers without targets are consulting giants KPMG and Accenture. On the other hand, peers EY, PwC and Deloitte are much more ambitious, with plans to reduce what is often regarded as ‘the low hanging fruit’ of a company’s climate footprint. Read More
Mercedes-Benz is the world’s first car manufacturer to X-ray a crash test
The technical sensation begins with a very loud bang. At 60 km/h, a device with a crash barrier rams into the orange C-Class saloon and hits it full on the side. Crash tests are always something special – even for the experts. But the really spectacular part of this side impact test is located in a frame on the hall ceiling above the vehicle: A linear accelerator serves as an X-ray camera. Together with the Fraunhofer-Institute for High-Speed Dynamics, the EMI (Ernst Mach Institute) in Freiburg, Mercedes-Benz has now carried out the world’s first X-ray crash with a real car. On board was one SID II dummy on the left-hand side facing the impact. This is a test specimen with a female anatomy, specially designed for side impact tests.
This technology demonstration (proof of concept) at the EMI research crash facility in Freiburg has shown that high-speed X-ray technology can be used to visualise highly dynamic internal deformation processes. Previously invisible deformations and their exact processes thus become transparent. The numerous, high-resolution images allow precise analysis.
“The Mercedes-Benz X-ray crash sets a milestone in the development tools of the future. With a direct view into the hidden interior, it can help to draw important conclusions for the further improvement of vehicle safety. Mercedes-Benz thus confirms its role as a safety pioneer in automotive engineering.”
Markus Schäfer, Member of the Board of Management of Mercedes-Benz Group AG, Chief Technology Officer
“The successful X-ray crash provides us with valuable insights to further optimize our technology for capturing previously inaccessible information. Fraunhofer EMI is thus consistently pursuing its strategy of using high-speed X-ray imaging to make dynamic processes visible.”
Dr. Malte Kurfiß, Head of Crash Test Centre, Fraunhofer EMI. Read More
Porsche and game developer Blizzard Entertainment® announced a new collaboration at the South by Southwest® (SXSW®) event, for their hit game Overwatch® 2. Later this Spring, players will be able to use special skins inspired by Porsche cars, including the new all-electric Macan, for two of their most popular characters. Already established in racing games, the sports car manufacturer is also expanding its portfolio beyond the motorsport genre, beginning with Overwatch 2, one of the most popular games in the world. Overwatch 2 is free-to-play on PC, Xbox, PlayStation, and the Nintendo Switch. . Read full article
The Macallan Horizon, is the first release designed and crafted in collaboration with Bentley Motors, fusing expertise from the worlds of exceptional single malt whisky and extraordinary automotive design. Fusing both traditional craftsmanship and cutting-edge precision engineering technology, The Macallan Horizon pushes the art of the possible – where purpose meets innovation, craftsmanship and beauty.
The expertly crafted single malt Scotch whisky, presented in a visionary horizontal vessel featuring a unique 180-degree twist detail, demonstrates an unparalleled approach to product innovation and design, and reflects the horizontal plane of the automotive world.
The release was visualised following extensive collaboration between The Macallan and Bentley Motors. In tribute to The Macallan’s Six Pillars foundation stones, six materials are incorporated that are integral to The Macallan, Bentley Motors and a partnership founded in innovation.
The Macallan Horizon is presented in a unique bespoke glass vessel, a material intrinsic to both The Macallan and Bentley, designed to be displayed horizontally, challenging the conventions of traditional whisky bottling. An aluminium ribbon envelops the glass and is precision engineered to Bentley’s exacting standards, in homage to this key material used in the sculptural foundation and bodywork of a Bentley. The vessel is encased in a sculpture lined with the finest low carbon leather, expertly crafted, in a chestnut colourway to ornately finish and protect the precious whisky. A surrounding copper frame is precision engineered from recycled copper, which includes copper from the stills previously used by The Macallan, prior to the internationally acclaimed new Distillery being unveiled in 2019. Read more
The Board of Directors, chaired by Giuseppe Zafarana, approved the 2023 Eni’s Annual Report prepared according to article No. 154-ter of the Italian comprehensive code for exchanges and securities. Consolidated net profit attributable to Eni’s shareholders amounted to €4,771 million1.
The Italian version of Eni’s 2023 Annual Report has been prepared in accordance with the European provisions on the standardization of financial languages (ESEF – European Single Electronic Format regulation).
The separate draft financial statements of the parent company for the year ending December 31, 2023, reported a net profit of €3,272 million. The 2023 IFRS consolidated statements and the separate statements of the parent company Eni SpA are enclosed herein.
The fourth instalment of the dividend for the fiscal year 2023 will be resolved by the Board of Directors at its meeting scheduled on April 4, 2024, being the payment date May 22, 2024, the ex-dividend date May 20, 2024, and the record date May 21, 2024.
The 2023 Annual Report (Italian version), in accordance with Article 154-ter of the Italian comprehensive code for exchanges and securities, has been handed to the Board of Statutory Auditors and the Independent Auditors. The Report will be made available to the public within the first ten days of April, at the Company’s registered office, on the company’s website, eni.com and in the other manner provided for by current legislation together with the reports of the Board of Statutory Auditors and the Independent Auditors. On the same day, an Annual Report on Form 20-F will be filed with the U.S. SEC.
The Board of Directors approved the Consolidated report on non-financial information prepared in conformity with the Italian Legislative Decree No. 254/2016 and included in the management discussion of the 2023 Annual Report, as well as the Report on Corporate Governance and Shareholding Structure prepared according to article No. 123-bis of the Italian comprehensive code for exchanges and securities.. Read full article
Equinor, on behalf of the partners, is exercising two options to extend contracts with Archer AS, KCA Deutag Drilling Norway AS and Odfjell Operations AS for a total of four years. The options for drilling services on fixed installations on the Norwegian continental shelf provide jobs for 2000 people per year, and have an estimated value of NOK 18.4 billion. The contracts were signed in 2018 with three option periods of two years. The first two-year option was exercised in 2022. The new contract period runs for four years from 1 October 2024. Read full article
Eni announces the following amendment to the financial calendar published on 11 January 2024: the resolution regarding the distribution to shareholders of the fourth of the four tranches in place of the 2023 dividend, from available reserves, scheduled for today’s Board of Directors meeting, will be approved at the meeting on 4 April 2024, remaining unchanged the payment date on 22 May 2024 with ex-dividend date on 20 May and record date on 21 May. Read full article
Baker Hughes Rig Count: U.S. -7 to 622 Canada -6 to 225
U.S. Rig Count is down 7 from last week to 622 with oil rigs down 2 to 504, gas rigs down 4 to 115 and miscellaneous rigs down 1 to 3.
Canada Rig Count is down 6 from last week to 225, with oil rigs down 3 to 141, and gas rigs down 3 to 84.
International Rig Count is down 7 rigs from last month to 958 with land rigs down 5 to 735, offshore rigs down 2 to 223.
The Worldwide Rig Count for February was 1,813, up 30 from the 1,784 counted in January 2024, and down 108, from the 1,921 counted in February 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 08 March 2024 | 622 | -7 |
| Canada | 08 March 2024 | 225 | -6 |
| International | February 2024 | 958. | – 7 |
Oil and Gas News Undiluted !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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: @OilAndGasPress on Twitter |
Oil and gas press covers, Energy Monitor, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar, Marine, Aviation, Fuel, Hydrogen, Electric ,EV, Gas,
Subscribe to Oil, Gas, Energy News Release Service
