London, December 03, 2024 (Oilandgaspress) –- The European Commission earmarks €4.6 billion to boost net-zero technologies, electric vehicle battery cell manufacturing and renewable hydrogen under the Innovation Fund. It is also launching the second auction of the European Hydrogen Bank to accelerate the production of renewable hydrogen in the European Economic Area (EEA) with a budget of €1.2 billion from EU funds, plus over €700 million from three Member States. Both calls for proposals and the auction are financed by the Innovation Fund, using revenues from the EU Emissions Trading System (ETS).
All three calls include new resilience criteria to boost European industry. The batteries call and hydrogen bank auction will also include specific resilience criteria to protect Europe against dependency on a single supplier. For the first time, a €1 billion call for electric vehicle battery cell manufacturing (IF24 Battery) will support projects that can produce innovative electric vehicles battery cells or deploy innovative manufacturing techniques, processes and technologies. Today’s call is only one measure in a broader approach to mobilise investment in an area that is essential for Europe’s success in the clean energy transition and its competitiveness. Read More
France is reducing a state-backed discount for electric cars, from a maximum of €7,000 ($7,360) to a maximum of €4,000 with immediate effect.
For households with medium to higher incomes, the purchase premiums will in future be €3,000 and €2,000 respectively, the government announced. Read More
Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (Nel, OSE:NEL), has signed a new contract for 10 MW of alkaline electrolyser equipment for about EUR 5 million with Samsung C&T Corporation Engineering & Construction Group (‘Samsung C&T’) for its first pilot for nuclear connected (pink) hydrogen production plant.
The first contract with Samsung C&T signed earlier this year was for an off-grid project based on solar power, while the client will now set up a demonstration plant to validate the commercial model for nuclear pink hydrogen. The aim is to produce hydrogen from excess nuclear power generation, allowing to utilize energy that is otherwise wasted in periods of oversupply, increasing overall energy efficiency
“Samsung C&T has ambitious plans in the hydrogen industry, and we are pleased that we, for the second time now, have been selected to deliver the electrolyser for this exciting and meaningful project,” says Håkon Volldal, President and CEO of Nel ASA.
Samsung C&T (Construction and Trading) focuses on global engineering, procurement, and construction. The company has signed several green hydrogen agreements and continues to strengthen its energy transition business portfolio.
“This is the very first hydrogen production project using nuclear power in Korea and we needed to have the most reliable electrolysis technology for executing the project. There is no doubt that Nel’s technology can meet our expectation. We are thrilled to partner with Nel again in pink hydrogen production project. Samsung C&T hope to strengthen the partnership with Nel to develop more opportunities in clean hydrogen business,” says Samsung C&T’s Head of Energy Solution Business Unit, Byung Soo Lee.
This is a firm purchase order for alkaline stacks and balance-of-stacks (BoS). The electrodes will be produced in the Herøya facility in Norway, the world’s first fully automated electrolyser production line. Read More
U.S. Environmental Protection Agency announced a proposed rule to revoke tolerances for chlorpyrifos, which establish the amount of a pesticide that is allowed on food. This rule revokes all tolerances for chlorpyrifos, except for those tolerances associated with the 11 food and feed crops that remain registered. EPA is taking this action in response to a decision by the U.S Court of Appeals for the Eighth Circuit. This action will support EPA efforts to cancel most uses of chlorpyrifos on food to reduce exposure and protect public health.
“EPA continues to prioritize the health of children,” said Assistant Administrator for the Office of Chemical Safety and Pollution Prevention Michal Freedhoff. “This proposed rule is a critical step forward as we work to reduce chlorpyrifos in or on food and to better protect people, including infants and children, from exposure to chemicals that are harmful to human health.”
Chlorpyrifos is an organophosphate (OP) insecticide that was used for a large variety of agricultural uses, including soybeans, fruit and nut trees, vegetables, and other row crops, as well as non-food uses. At high levels, OP exposures can result in neurological effects such as tremors, fatigue and nausea. There is also concern for exposures to pregnant women and children since chlorpyrifos has been associated with neurodevelopmental effects indicating it could impact the normal development of the nervous system during pregnancy or childhood. Read More
Ampere, the intelligent electric vehicle (EV) pure player born from Renault Group and STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, today announced the next step in their strategic co-operation, starting in 2026, with a multi-year agreement between STMicroelectronics and Renault Group on the supply of Silicon Carbide (SiC) power modules, as part of their collaboration on a powerbox for the inverter for Ampere’s ultra-efficient electric powertrain. Ampere and STMicroelectronics worked together on the optimization of the power module, the key element in the powerbox, to get the highest performance and best competitiveness in the e-powertrain, leveraging Ampere’s expertise in EV technology and STMicroelectronics’ expertise in advanced power electronics.Power modules, composed of numerous silicon carbide chips, manage and convert electrical power from the battery to drive the electric motor. They play a crucial role in the efficiency of the electric powertrain and battery range, as well as energy regeneration features, making them a key element of the efficiency of an electric car. They also contribute to the smoothness and responsiveness of driving.
STMicroelectronics and Ampere have collaborated on a powerbox for the supply of energy to Ampere’s new generation of electric motors. he powerbox is designed for optimum performance-size ratio across Ampere’s line-up, on 400 Volt battery EV vehicles and for Segment C-EVs with 800 Volt batteries, enabling greater autonomy and faster charging. 800 Volts is one of the key levers to achieve the 10%-80% quick charge in 15 minutes or less. This agreement is fully aligned with Ampere’s strategy to master the entire value chain of the electric vehicle, particularly by working further upstream with its partners and ensuring the best efficiency at each step. Read More
Stellantis Organizational Announcement
The process to appoint the new permanent Chief Executive Officer is well under way, managed by a Special Committee of the Board, and will be concluded within the first half of 2025. While the appointment of the new CEO is concluded the following organization is implemented with immediate effect.
The Interim Executive Committee (“IEC”) will be responsible for the direction and oversight of the Company on behalf of the Board of Directors. The IEC will be chaired by John ELKANN. The committee shall be made up of the Chairman together with the following executives whose responsibilities are as follows:
Xavier CHÉREAU – Human Resources and Heritage
Ned CURIC – Engineering and Technology, Software and Free2move
Arnaud DEBOEUF – Manufacturing and Supply Chain
Antonio FILOSA – America’s (North and South America) Regions, Chrysler, Dodge, Jeep®️, Ram, and the Design North America organization, including Maserati Design.
Béatrice FOUCHER – Planning
Jean-Philippe IMPARATO – Enlarged Europe, Pro One, and Abarth, Alfa Romeo, Citroën, DS, FIAT, Lancia, Opel and Peugeot. The Design Europe organization will also report to this position.
Douglas OSTERMANN – Finance
Maxime PICAT – Purchasing and Supplier Quality and the regions of Middle East & Africa, India & Asia Pacific, and China together with Leapmotor International.
Philippe de ROVIRA – Affiliates
In support of the IEC and reporting directly to the Chairman will be the following Executive Vice Presidents:
Bertrand BLAISE – Communications and CSR
Olivier BOURGES – Customer Experience
Giorgio FOSSATI – General Counsel
Santo FICILI – Maserati in addition to Alfa Romeo
Olivier FRANÇOIS – Marketing in addition to FIAT, Abarth and DS
Clara INGEN-HOUSZ – Public Affairs
Richard PALMER is appointed as Special Adviser to the Chairman and will attend the IEC to act as a sounding board for the leadership team. Read More
DS N°8: the new generation from DS Automobiles
A couple of weeks before introducing its important upcoming model, DS Automobiles is revealing a new naming strategy. This approach links the names of the existing range and those of the Brand’s future models, while retaining numbers and adopting a bolder rationale with “N°” (number).This strategy is combined with an incrasingly assertive brand presence, with a badge that remains conspicuous at the front and the DS Automobiles signature written out in full at the rear of the car.
The introduction of the “N°” naming convention launches a new generation of models for DS Automobiles, highlighting a significant development.
“N°” is a nod to the French language, as it represents the usual way of writing “number” in French, embodying an elegance and timelessness that transcends languages. It signifies the dawn of a new era. The “°” is designed like a diamond tip, symbolic of elegance and expertise.
The future DS Automobiles range will follow this new naming strategy. The number will correspond to the size and segment of the model.
DS N°8: future flagship of the DS Automobiles range
“8” is a new number for DS Automobiles. Its shape, close to the infinity sign, is associated with balance and serenity, which combine to form a harmonious whole.
To maintain the Brand’s identity, the rear of the car will sport the “N°8” signature supplemented by “DS AUTOMOBILES”. This separated branding ensures a clear division between the Brand and the model, while indicating a progression towards the electric future.
The DS N°8 embodies a new French art of travel Read More
Stellantis created the Autonomy project over twenty years ago. This project aims to enable those with motor, sensory, or intellectual limitations to move with total autonomy and freedom in all vehicles of the Stellantis range. Therefore, in collaboration with Autonomy, a program of activities has been prepared at the European level to raise employee awareness about recognizing the contributions of differently-abled people.
Starting today, a global video will be shared in which some Stellantis employees “speak up” to emphasize the importance, meaning, and value of this observance, inviting everyone to join in the commitment to inclusion and breaking down all kinds of barriers.
On the same day, another teaser video (link) will be released in Europe, centered on the seemingly contradictory concept of “make no differences,” which actually resolves into an invitation to act immediately in our daily lives to overcome prejudices against diversity.
This invitation will be accompanied by a powerful video (link) focusing on the Autonomy program, featuring brand ambassadors engaged in extremely challenging physical and emotional activities.
On December 6th, employees will be invited to play with a set of digital cards that will lead them to deepen their understanding of various types of disabilities (visible and invisible), to increase awareness on the topic.. Read More
Bugatti Tourbillon, the marque is further reinforcing the strength of its dealer network in Europe – presenting the latest showcases for its esteemed customers to experience the opening of this pioneering chapter, with Bugatti Munich in Germany, and Bugatti Vienna in Austria. Channeling the spirit of heritage and legacy that courses through the Tourbillon¹, the entirely reimagined showroom in Munich and exquisite all-new Vienna vitrine offer a tantalizing window into the new age of Bugatti.
Bugatti started its exciting journey with its dynamic and closely trusted German partner, Dörr Group, in 2015 – introducing the brand’s peerless designs to discerning enthusiasts in the home-nation of the motor-car, at two beautifully crafted showrooms in Munich and Frankfurt. First opening its doors in March 2016, Bugatti Munich became the second-ever location after Tokyo to integrate a vehicle showroom with a lifestyle boutique – forging a pioneering path of its own, and demonstrating the steadfast commitment of Dörr Group to creating new experiences for the marque’s customers. Read more
More than 1.400 Lamborghinis from 23 countries participated in “Bull Runs” around the world during November, showing off the traditional mustache decals on their hoods as a symbol of support for Movember. For the fourth year in a row, Automobili Lamborghini renewed its commitment to the association founded in 2003, which raises funds and awareness on important issues related to men’s health, including prostate cancer, testicular cancer, mental health and suicide prevention.
Stephan Winkelmann, Chairman and CEO of Automobili Lamborghini remarked: “Again this year we made sure there was plenty of support for Movember, mobilizing dealers and customers around the world in an initiative that we care deeply about. As always, our objective is to continue to raise awareness in an ever-widening public, with the hope that everyone feels inspired to do their own part to support organizations like Movember that remain consistently engaged with such important issues.”
A highlight of Lamborghini’s Movember activities took place on 2 November in Miami, where over 150 super sports models started from various locations on the USA’s east cost and made their way to Miami Beach. As well as the Florida initiative, the support of dealers globally saw Bull Runs held across 23 different countries and in the most evocative locations, such as the Sydney Opera House. The motorcades were not only limited only to road cars, but race cars also sported the mustache decals on their hoods during the Lamborghini Super Trofeo World Finals held in Jerez de la Frontera in November. In this competition, which is the culmination of the Lamborghini Squadra Corse season, all the participating cars sped around the track with mustaches of different colors. Read More
The current Mercedes-Benz V-Class raises the bar for comfort and style to a new level. The market launch in early 2024 was soon followed by the model upgrade of the V-Class Marco Polo camper. Now, as the anniversary year draws to a close, Mercedes‑Benz is rounding off its portfolio with the launch of the new V‑Class Marco Polo HORIZON recreational vehicle. The high-end all-rounder is soon available to order.
“The new V‑Class Marco Polo HORIZON completes our V-Class family, allowing us to meet the needs of even more customer groups. As a limousine in XXL format with up to eight seats or exclusive luxury seating, our V-Class is especially appealing to families and VIPs. As a fully furnished V‑Class Marco Polo camper, it is ideal for travellers. And as a V‑Class Marco Polo HORIZON recreational vehicle with a roof bed, reclining bench seat and swivelling front seats, it’s now also the perfect choice for leisure enthusiasts. Along with taking comfort and style to new levels, we’ve also comprehensively upgraded the standard features.”
Klaus Rehkugler, Head of Mercedes-Benz Vans Sales & Marketing
The high-end vehicle for life and leisure – the new V-Class Marco Polo HORIZON
The new V-Class Marco Polo HORIZON completes the V‑Class family and is soon available to order starting at EUR 58,939.95 in Germany[1]. It offers nearly all the innovations of the V-Class. This further enhances the high-quality identity of the new V‑Class Marco Polo HORIZON. The updates include, among others:
A fresh and classy new exterior look – especially at the front of the vehicle, which is characterised by a new striking radiator grille and powerfully designed bumper. Depending on the selected feature package, the radiator grille is also framed with an LED light strip. Another stylish touch is provided by the adaptive MULTIBEAM LED headlights. Lending a distinctive look to the rear are redesigned LED lights and – combined with a separately openable rear window – a new chrome trim strip with Mercedes-Benz lettering. Completing the exterior impression are new paint colours and wheel designs. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $68.84 | Up |
| Crude Oil (Brent) | USD/bbl | $72.54 | Up |
| Bonny Light 02/12/24 CBN | USD/bbl | $74.53 | Down |
| Dubai | USD/bbl | $72.60 | — |
| Natural Gas | USD/MMBtu | $3.17 | Down |
| Murban Crude | USD/bbl | $72.28 | Up |
| OPEC basket 02/12/24 | USD/bbl | $71.94 | Down |
“Porsche X Iron Dames – because every dream matters” is a slogan that represents the close collaboration between Porsche Motorsport and the renowned initiative to promote women in motor racing. The project kicks off with the start of the Asian Le Mans Series next weekend in Sepang (Malaysia). Four fast female drivers will compete in four top series at the wheel of a Porsche 911 GT3 R. Michelle Gatting from Denmark, Rahel Frey from Switzerland, Sarah Bovy from Belgium and Célia Martin from France will race for the Iron Dames squad in Asia, Europe and the USA. The schedule also includes the 24 Hours of Le Mans as part of the FIA World Endurance Championship WEC.
Gatting, Frey and Martin will share driving duties in the pink 911 in the LMGT3 class of the FIA WEC. The Manthey team is responsible for the operational side of campaigning the ca. 416 kW (565 PS) racing car powered by a flat-six engine. The seasoned customer squad lifted every title in the GT3 category’s debut season in the WEC. Proton Competition runs operations in the Asian Le Mans Series, the European Le Mans Series and the North American IMSA WeatherTech SportsCar Championship. As part of this, Michelle Gatting from Denmark will be promoted to the Porsche contracted driver squad. Read More
Porsche legends from road and racetrack, the new all-electric Porsche Macan has been made available for customers in China to test drive on the Shanghai International Circuit.Running from November 22 to December 2, Porsche has been hosting a first-of-its-kind track-driving experience for racing enthusiasts, with cutting-edge sports cars and historic legends on track at the Shanghai International Circuit. As the highlight of this event, the new all-electric Macan 4 and Macan Turbo made their debut for their first customer test drives in China.
For this event, the likes of which have not been seen before in China, Porsche brought the new all-electric Macan and the new Taycan, as well as the iconic 911 and the new Cayenne, showcasing Porsche’s timeless brand identity in terms of both internal combustion and electrification. In addition to the track driving experience, the team Porsche Heritage and Museum has been showing a number of treasured classic sports cars to link past and future. Guests at the event have also had the opportunity to appreciate the unique appeal of the all-electric Macan Exclusive Style series, including Macan Concept Ultra, Macan Concept Nightfall, Macan Concept Glow and Macan Concept Mystic. The series demonstrates some of the breadth of opportunity when it comes to individualisation with Porsche, and further emphasises the lifestyle positioning of the Macan. Read More
Kia America achieved its best-ever November sales, with 70,107 units sold—marking a 20-percent increase over November 2023 and surpassing 70,000 sales in a single November for the first time. This achievement was also highlighted by record-breaking monthly sales for the Telluride SUV.
Kia’s SUV models and electrified vehicles experienced significant growth, with increases of 38-percent and 45-percent respectively compared to the same period last year, driving the highest sales figures ever recorded for November. Individually, the Carnival MPV, all-electric EV6, Sportage (combined ICE, HEV and PHEV), Telluride, and K4/Forte set new November records, up 45-, 46-, 28-, 31-, and 12-percent, respectively, over the same period last year.
Kia has achieved a remarkable milestone by recording a 20-percent year-over-year increase in retail sales, excluding fleet sales, for the second consecutive month, setting a new record for November sales. Sales of SUVs and electrified models accounted for 75-percent and 16-percent of Kia’s overall November total. Read More
Eve Air Mobility announced today a US$35 million fund from Brazil’s National Development Bank (BNDES), further solidifying its financial position for continued eVTOL development. This second-phase funding follows a US$92.5 million line of credit secured in 2022 for R&D and a recent US$50 million investment from Citibank, both dedicated to supporting Eve’s eVTOL development program.
This second-phase investment from BNDES, sourced from the Climate Fund, will be allocated to manufacturing Eve’s conforming prototypes and, subsequently, the commercial vehicle. The fund will also be used for testing processes. BNDES has been a key partner of the company’s vision for Advanced Air Mobility (AAM). Read More
McDermott International,announced the final voting results of its Special General Meeting of Members held virtually on Monday, December 2, 2024.
At the meeting, Members approved an increase in the authorized share capital of the Company from $2,400,000 to $12,100,000. In addition, Members approved the consolidation of the entire issued Class A Ordinary Shares in the share capital of the Company at a ratio not less than 25-to-1 and not greater than 250-to-1, with the exact ratio to be set within that range at the discretion of the Board. Finally, Members approved an amendment to the Company’s Amended and Restated Bye-Laws to increase the par value of the Class A Ordinary Shares and Class B Ordinary Shares to an amount per share proportional to the corresponding consolidation of the share capital of the Company.
With approximately 76% of the outstanding Class A Ordinary Shares present in person or represented by proxy at the meeting, each proposal received votes in favor representing at least 93% of the shares present, indicating strong support for the proposals, which are related to the previously announced redemption and exchange of the Company’s Series A Preference Shares into Class A Ordinary Shares (the “Preference Share Transaction”) and subsequent share consolidation. Read More
Baker Hughes Rig Count: U.S. -1 to 582 Canada +4 to 205
U.S. Rig Count is down 1 from last week to 582 with oil rigs down 2 to 477, gas rigs up 1 to 100 and miscellaneous rigs unchanged at 5.
Canada Rig Count is up 4 from last week to 205, with oil rigs up 1 to 134, gas rigs up 3 to 70 and miscellaneous rigs unchanged at 1.
International Rig Count is up 3 rigs from last month to 950 with land rigs down 9 to 726, offshore rigs up 12 to 224.
The U.S. Offshore Rig Count is unchanged at 16, down 5 year-over-year.
The Worldwide Rig Count for October was 1,754, up 4 from the 1,751 counted in September 2024, and down 22, from the 1,776 counted in October 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 27 November 2024 | 582 | -1 |
| Canada | 27 November 2024 | 205 | +4 |
| International | October 2024 | 950 | +3 |
EU Commission sets 50% gas storage target for February 2025,
The Commission adopted intermediate targets that EU countries are required to meet in 2025 to ensure gas storage facilities are filled to at least 90% of capacity by 1 November 2025, as required by the EU Gas Storage Regulation (EU/2022/1032).
The implementing regulation defines targets for 1 February, 1 May, 1 July and 1 September 2025 for those EU countries with underground storage facilities on their territory and for EU countries that are connected through the gas network.
These targets are the minimum thresholds that EU countries need to meet to ensure security of supply through refilled storage facilities for winter 2025-2026. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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