London, 20 May 2024, (Oilandgaspress): – Transmission infrastructure is the backbone of the nation’s power system, ensuring Americans across the country have 24/7 access to affordable, reliable electricity to power their homes, businesses, and communities. A new report from the U.S. Department of Energy (DOE) Office of Policy, “Queued Up… But in Need of Transmission,” highlights the generation capacity seeking to connect to the nation’s transmission networks, illustrates the growing gridlock, and summarizes the need for and value of large-scale transmission infrastructure. The report also highlights potential solutions and policy actions that could help unlock the benefits of transmission for the nation.
Expanding transmission also helps integrate renewable energy sources—such as wind and solar—which are increasingly cost-competitive with fossil fuels and are critical to meeting the nation’s climate goals of 100% clean electricity by 2035 and a zero emissions economy by 2050. Independent estimates indicate that to meet our growing clean electricity demands, we’ll need to expand transmission systems by 60% by 2030 and may need to triple those systems by 2050. That means significant investments in transmission infrastructure will be required to meet our climate goals and unlock the benefits that the clean energy transition presents from spurring economic growth, to revitalizing domestic manufacturing, to creating millions of good jobs for American workers. Transmission, distribution, and storage already employ over one million people in the U.S., and expanding transmission will create a whole new generation of good-paying jobs across the country. Read More
In 2023, about 4,178 billion kilowatthours (kWh) (or about 4.18 trillion kWh) of electricity were generated at utility-scale electricity generation facilities in the United States.1 About 60% of this electricity generation was from fossil fuels—coal, natural gas, petroleum, and other gases. About 19% was from nuclear energy, and about 21% was from renewable energy sources. The U.S. Energy Information Administration estimates that an additional 73.62 billion kWh of electricity generation was from small-scale solar photovoltaic systems in 2023.2 U.S. utility-scale electricity generation by source, amount, and share of total in 2023 Read More
The Nigerian National Petroleum Company Limited (NNPC Ltd) wishes to clarify that the fire incident at a tank farm in Marine Beach, Apapa, Lagos, was at a depot belonging to HOGL Energy Ltd (Honeywell Depot), and not an NNPC Retail Ltd.’s facility as circulated by early responders.
The fire, which has since been extinguished, was as a result of petroleum products spillage within the perimeter of the tank farm.
Meanwhile, NNPC Ltd and other depots in the area have resumed loading activities.
NNPC assures that the incident will, in no way, affect petroleum products supply and distribution across the country. Read More
Nigeria’s Folashade Adekeye has emerged as the Chairperson, Forum of the Directors of Oil & Gas Training & Vocational Education Institutes of the African Petroleum Producers Organization (APPO). Adekeye, who is the Director, NNPC Academy, took over from the former chairperson, Mr. Abdelkader Guenone, the Managing Director of the Algerian Petroleum Institute (API), during the second meeting of the Forum, in Abuja, at the weekend. Adekeye, who heads the NNPC’s oil and gas training arm, brings into the role over 30 years of experience, and is expected to work with her colleagues from APPO Member Countries in order to foster more collaboration towards addressing the challenges of competences, skill gaps, infrastructure, and poor funding in the organization’s training institutions. Earlier in his keynote address at the opening ceremony of the meeting, the Group Chief Executive Officer of NNPC Ltd., Mele Kyari, represented by Inuwa Danladi, Executive Vice President (Business Services), emphasized the importance of a standardized educational and training approach to meet the changing demands of the oil and gas industry. Also in his keynote address, APPO’s Secretary General, Dr. Omar Farouk Ibrahim, charged the Member Countries to work towards further enhancing collaborative efforts to establish Oil & Gas Centres of Excellence across the African continent. Dr. Ibrahim, also from Nigeria, said having good knowledge of the Forum’s challenges would enable APPO Member Countries to make recommendations and provide solutions in areas such as Oil & Gas project funding, technology adoption, and the formation of Africa Energy Bank.
He concluded that such collaboration by all member countries will guarantee Africa’s energy accessibility, affordability and sustainability, which overall, will strengthen her economies and bring prosperity to its citizens. Read More
Embraer and Eve sign MoU with Groupe ADP aiming to strengthen operations at Paris-Le Bourget Airport Embraer (B3: EMBR3, NYSE: ERJ), Eve Air Mobility (Eve) (NYSE: EVEX; EVEXW), and Groupe ADP (Aéroport de Paris) signed a Memorandum of Understanding (MoU) which focuses on innovation and sustainable development, aiming to prepare the future of low-carbon aviation in and around the Airport of Paris-Le-Bourget, strengthening Embraer’s operations and its facility at Paris-Le Bourget airport, Europe’s leading business aviation airport.
This MoU covers the creation of new capabilities to enhance Embraer’s aircraft maintenance operations, to prepare for the future Energia family, and to support the development of Advanced Air Mobility (AAM) operations with eVTOLs.
With this collaboration, Paris-Le Bourget consolidates its status as an innovative aeronautical cluster and a pioneering airport in decarbonized aviation.
As part of this plan, Embraer Services & Support intends to design and then transfer its current facilities to a new maintenance building to optimize its capacity, while aiming for the most advanced standards in low-carbon construction and energy self-sufficiency. The new aircraft maintenance facility is expected to more than double the unit’s capacity. For Eve, the company intends to work with Groupe ADP to prepare the necessary environment for eVTOL operations, including service and support activities such as training, maintenance, ground handling services, and facilitate potential demonstration flights for public-private initiatives. Read More
Stellantis today announced the following organizational changes, effective June 1, 2024.
Chris Feuell is appointed Ram brand CEO in addition to her current responsibility as Chrysler brand CEO, replacing Timothy Kuniskis who has decided to retire after nearly 32 years with the Company. Chris will continue to lead the electric transformation of the Chrysler brand and take the leadership of the Ram brand.
Matt McAlear is appointed Dodge brand CEO, replacing Timothy Kuniskis. Matt will become a member of the Top Executive Team. In his previous role, he led Dodge sales operations and has broad experience in the automotive industry as well as in the medical and digital sectors, providing him with the foundation to lead the Dodge brand.
“I want to take the opportunity to warmly thank Tim for his passion, commitment and contributions to Stellantis and in defining the vision of the future electrified Ram and Dodge brands. I wish him well in his retirement,” said Stellantis CEO Carlos Tavares. “I am confident that Chris will continue the work of Tim in leading the iconic Ram brand. Matt will bring a fresh perspective, while continuing to draw on the heritage of our iconic Dodge brand and leading the transition of the brand toward a sustainable future.” Read More
In a bid to improve options and ease of financing for the dealers, Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM) – subsidiaries of Tata Motors, India’s leading automotive manufacturer, have joined hands with Bajaj Finance, part of Bajaj Finserv Ltd., one of India’s leading and most diversified financial services groups, to extend supply chain finance solutions to its passenger and electric vehicle dealers. Through this memorandum of understanding (MoU), the participating companies will come together to leverage Bajaj Finance’s wide reach to help dealers of TMPV and TPEM access funding with minimal collateral.
The MoU for this partnership was signed by Mr. Dhiman Gupta, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd. and Mr. Siddhartha Bhatt, Chief Business Officer, Bajaj Finance Ltd. TMPV and TPEM have been pioneering the Indian automotive market with its groundbreaking efforts it both ICE and EV segments. The company’s overarching New Forever philosophy has led to the introduction of segment leading products which are being appreciated by consumers at large.
Bajaj Finance is one of the most diversified NBFCs in India with presence across lending, deposits and payments, serving over 83.64 million customers. As of March 31, 2024, the company’s assets under management stood at ₹3,30,615 crore. Read More
In close collaboration with Bugatti, The Little Car Company has showcased for the first time the exquisite Baby II Type 35 Centenary Edition, a celebratory creation that beautifully commemorates the 100th anniversary of the legendary Bugatti Type 35’s debut at the Grand Prix de Lyon in 1924.
The Bugatti Baby II Type 35 Centenary Edition: honoring an iconic racing legacy
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. Read More
Volkswagen of America will join the excitement of Dead & Company’s Las Vegas residency “Dead Forever – Live at Sphere” as one of the highlights of the immersive Dead Forever Experience with a vintage Volkswagen bus and the latest all-electric model, the ID. Buzz. The Dead Forever Experience, created in partnership with Vibee, begins today and is open to the public for the duration of the residency.
Much like the ID. Buzz harks back to the original Volkswagen Microbus, Dead & Company has continued the Grateful Dead’s unparalleled legacy, introducing their music to new audiences. As Volkswagen of America celebrates its 75th anniversary in America this year, the brand saw it as a fitting opportunity to connect with the fans who continue to celebrate their relationship. Volkswagen and the Grateful Dead became symbols of counterculture in the United States during the 1960s, generating a cultural marriage between the two that continues today. In 1995, the Grateful Dead’s founding member and lead guitarist, Jerry Garcia, passed away. Volkswagen honored the late musician by running an ad featuring a Microbus with a tear falling from one headlight. This ad campaign was Volkswagen’s recognition of the influence and impact their relationship had on mainstream culture and society. The zero-tailpipe emission ID. Buzz transfers the design of one of the greatest automobile icons—the T1 Microbus—to the era of electric mobility. The short overhangs, spacious interior and available two-tone color palette pay homage to the past, while the high-tech interior, progressive design features, and EV technology marks it clearly as a vehicle of the future. The three-row, U.S. version of the ID. Buzz will be available through Volkswagen’s network of over 600 independent U.S. dealers later this year. Read full article
CHC Helikopter Service, the Norwegian division of CHC Helicopter, specialising in offshore transportation, is proud to announce it has agreed a 12-month contract with Shell to support its operations in the North Sea. The contract covers crew change and transportation services from the Deepsea Yantai Rig to the operator’s Sola and Bergen bases. CHC will utilise an S-92 aircraft to support the rig. This latest deal is a continuation of CHC and Shell’s long-standing relationship and a marker of the operator’s continued success in the region. Shell trusts CHC’s deep expertise to provide safe, smooth, and efficient crew transportation services in the region’s remote and challenging environment. CHC is a trusted partner to the North Sea energy market with customers including Aker BP, Equinor, and OKEA, who recently extended their contract with the operator by four years. Helge Aase Nesvåg, Senior Commercial Director EMEA-E, commented: “Our latest agreement with Shell underscores our dedication to meeting our customers’ specific needs. Our team consistently pursue excellence and will ensure Shell’s team members can always reach their destinations and return home safely and efficiently.
“We’re excited to continue the momentum of our regional growth, both through our commitment to offshore energy projects, and our other service offerings.”
“Alongside its support of the region’s energy market, CHC Helikopter will continue to expand its life-saving search and rescue (SAR) and helicopter emergency medical service (HEMS) missions. CHC provides emergency support around the world, including in Norway, Australia, Brazil, the United Kingdom and the Netherlands.
“With its local expertise and global network, CHC Helikopter delivers unmatched services across a range of sectors. With a focus on safety, reliability and sustainability, CHC is committed to supporting offshore energy projects.” Read full article
CHC Brasil, part of CHC Helicopter, a global leader in helicopter services, announced it has agreed a new contract with Equinor Brazil, to support the High Activity Period (HAP) in the Peregrino field. Peregrino field is the largest field operated by Equinor outside Norway. CHC will support Equinor through the HAP stage of the project from Cabo Frio, and will provide a dedicated aircraft to deliver a major programme of maintenance, upgrades and repairs on the floating production storage and offloading vessel. Read full article
REDEX will be an exclusive partner to TNBX to support the development of the Malaysia Green Attribute Trading System (mGATS) into the country’s preeminent digital trading platform for Malaysia Renewable Energy Certificates (mREC). The upgraded platform will provide a new avenue for businesses to conveniently pursue their renewable energy commitments and accelerate the nation’s pursuit of a sustainable energy future. Launched five years ago as an information hub on RECs, the revamped mGATS will leverage REDEX’s innovative technological solutions to facilitate live trading and auctions while providing users with price transparency for mRECs acquisition. REDEX Founder and CEO Kang Jen Wee said, “REDEX is honoured to be chosen by TNBX as a partner for the development of mGATS into a premier digital trading platform for the Malaysian market. We are excited to be part of the country’s journey to create a sustainable future for current and future generations.
“This collaboration also deepens our presence in Malaysia and highlights our innovative technological solutions to the wider REC industry. It also paves the way for deploying such similar proven solutions in other countries. Utilising our expertise and experience, REDEX will work closely with TNBX to enable more renewable electricity certification in Malaysia.” A wholly-owned subsidiary of Malaysia’s leading utility company Tenaga Nasional Berhad (TNB), TNBX is the premier one-stop mREC solutions provider for Malaysian consumers and businesses. TNBX Managing Director, Ir. Mohd Razif Abd Halim said, “The revamped mGATS is a significant step forward in Malaysia’s journey towards low carbon energy future. In line with the National Energy Transition Roadmap (NETR), this initiative will promote renewable energy and bolster the country’s ambition to achieve net zero carbon emissions by 2050. Read More
Africa Oil Corp. announced that the Company repurchased a total of 1,303,800 Africa Oil common shares during the period of May 13, 2024 to May 17, 2024 under the previously announced share buyback program. The launch of Africa Oil’s normal course issuer bid (share buyback) program, announced by the Company on December 4, 2023, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbour Regulation) and the applicable rules and policies of the Toronto Stock Exchange (“TSX”), Nasdaq Stockholm, and applicable Canadian and Swedish securities laws.
During the period dated May 13, 2024 to May 17, 2024, the Company repurchased 478,800 Africa Oil common shares on the TSX and/or alternative Canadian trading systems. The repurchases were carried out by Scotia Capital Inc. on behalf of the Company. During the same period, the Company repurchased 825,000 Africa Oil common shares on Nasdaq Stockholm, and these repurchases were carried out by Pareto Securities on behalf of the Company. Read More
Daimler Truck Holding AG (Daimler Truck) delivered solid results in the first quarter of 2024. Despite lower Group unit sales Daimler Truck successfully continued
a performance towards a robust profitability in normalizing markets. With €13.3 billion the Group’s revenue is on the same level as the previous year’s first quarter (Q1 2023: €13.2 billion). With a slight increase adjusted Group EBIT is on the same level as the previous year to €1.21 billion in the reporting period (Q1 2023: €1.16 billion). In the Industrial Business (IB), adjusted EBIT of €1.16 billion was slightly higher than in the same period of the previous year (Q1 2023: €1.11 billion). Reflecting the expected normalization of the truck markets, the Group’s global sales in Q1 totaled 108,911 units (Q1 2023: 125,172 units). Sales of battery-electric vehicles jumped by 183% to 813 vehicles (Q1 2023: 287). At €847 million, net profit increased compared to the prior-year quarter with €795 million. With €1,213 million, the free cash flow of the Industrial
Business was significantly higher than previous year’s Q1 (Q1 2023: 168 million), driven by significant reduction in trade receivables due to timing of customer payments in the first quarter of 2024. Full year expectation for the free cash flow thus remains unchanged. Adjusted return on sales at Daimler Truck’s Industrial Business increased year-on-year to 9.3% (Q1 2023: 8.8%). Earnings per share amounted to €1.00 (Q1 2023: €0.90). Read More
Volvo Car AB announces that the company, in accordance with the previously communicated final terms and timetable, has completed the distribution of 62.7 percent of its shareholding in Polestar Automotive Holding UK PLC (“Polestar”) to Volvo Cars’ shareholders in the form of Swedish Depositary Receipts (“SDRs”). Polestar has American Depository Shares (“Polestar Class A ADSs”), which represent the underlying Class A shares in Polestar, listed on Nasdaq New York, and holders of SDRs may apply for conversion of SDRs into Polestar Class A ADSs during the conversion period which commences today.
The SDRs will be distributed today to the shareholders’ securities accounts, nominee accounts or equivalent. The SDRs will not be admitted to trading in Sweden or elsewhere. During the period 13 May up to and including 13 August 2024 (the “Conversion Period”), holders of SDRs may, free of charge, apply for conversion of SDRs into Polestar Class A ADSs, which can be traded on Nasdaq New York. Polestar Class A ADSs will be delivered to SDR holders who applies for conversion during the Conversion Period on a bi-weekly basis. The SDR-program is a temporary solution that will be terminated in connection with the expiry of the Conversion Period on 13 August 2024. Upon termination, all holders of SDRs who have not yet converted their SDRs into Polestar Class A ADSs, will automatically have their SDRs redeemed by Skandinaviska Enskilda Banken, as agreed with Volvo Cars, whereby the Polestar Class A ADSs that the SDRs represent will be sold on Nasdaq New York, at prevailing market terms at that point in time. The sale will take place as soon as practicable after the termination of the SDR-program. The payment of the proceeds from the sale of Polestar Class A ADSs will be paid pro rata to the previous holders of such SDRs. Such payment is expected to take place on or around 27 August 2024.
Depending on whether the SDR holder’s holding is directly or nominee registered, different measures are required in order to participate in the conversion of SDRs into Polestar Class A ADSs. If your SDRs are nominee registered, follow the instructions you receive from your nominee to participate in the conversion of SDRs into Polestar Class A ADSs. Read More
Volvo Cars reports global sales of 65,838 cars, up 27 per cent compared to the same period last year. The sales increase was primarily driven by a strong performance in Europe as well as the company’s fully electric small SUV, the EX30. The company’s electrified models, with a fully electric or plug-in hybrid powertrain, grew 53 per cent compared to the same period last year and accounted for 48 per cent of all cars sold during April. The share of fully electric cars constituted 26 per cent for the month.
The total sales for the period of January through April amounted to 248,525 cars globally, an increase of 16 per cent compared to the same period 2023. In Europe, sales soared to 34,238 cars for April, up 65 per cent compared to the same period last year. The new EX30 emerged as the company’s best-selling model in the region, contributing to a 76 per cent increase in the sales of Volvo Cars’ electrified models compared to the same period last year. The share of electrified models accounted for 67 per cent of all cars sold in Europe during April.
Sales in the US saw a 10 per cent increase in April, totaling 10,604 cars. This growth was mainly driven by an 89 per cent increase in plug-in hybrid car sales.
Volvo Cars’ sales in China reached 12,221 cars, down 3 per cent compared to April in 2022. Sales of electrified models stood at 1,062 sold cars, a decrease of 16 per cent compared to the same period last year.
In April, the Volvo XC60 was the top-selling model with sales of 19,542 cars (2023: 16,658), followed by the XC40, with total sales of 15,139 cars (2023: 13,740) and the EX30 at 9,730 cars (2023: 0). Read More
Daimler India Commercial Vehicles (DICV), the wholly-owned subsidiary of Daimler Truck AG announced that in CY2023 it has achieved record sales and revenue performance. The company’s CY2023 domestic truck and bus sales grew by 39% and revenue grew by 21% over 2022. DICV’s bus volumes doubled in CY2023, growing 107% over 2022. Its cumulative sales (including domestic and exports) from January to December 2023 grew by 13% and its parts business grew by more than 21% over CY2022. In January 2023, DICV had transitioned its entire BharatBenz truck and bus portfolio to comply with OBDII regulations, with a sharper focus on reducing total cost of ownership, increasing the productivity of its trucks and offering industry-leading service intervals in India. The new range of BharatBenz construction and mining heavy-duty trucks have been completely reengineered for superior functionality and comes with many segment-first features. Offered in 2828C and 3532C configurations, they are optimized to suit surface transport construction applications and terrains, have a high-power engine, class-leading torque in its categories, a higher yield strength chassis,
new, service-free wheel hubs, new axles, all-new suspension with higher ground clearance and first-insegment rear shock absorbers and hill-hold assist as standard fitment. Read More
Alfa Romeo’s new official merchandising, a contemporary and innovative designer collection for the community of enthusiasts, the Alfa Romeo Tribe, which shares the brand’s values and mission on a visceral level. Alfa Romeo’s new online store is now also online, designed for engaging and intuitive browsing and a premium shopping experience, just like in exclusive Alfa Romeo showrooms around the world.
Divided into three Collections – “Performance,” “Urban Red Line,” and “Sport Red Passion” – the new Alfa Romeo Merchandising offering includes new apparel with a contemporary style and useful accessories with a distinctive personality. Each product therefore reflects a glorious heritage projected towards a sustainable, bold future, as well as meeting the requirements of anyone who wants their everyday look to stand out or is seeking technical solutions that improve performance. All enhanced by a unique style, iconic graphics, and eye-catching textures.
The new collection also serves as a strategic asset to convey Alfa Romeo’s values, building loyalty among long-standing enthusiasts and attracting a new generation of Alfisti fans looking for a symbiotic bond that can bring out ‘authentic emotions’ in a car. For the everyday lives of these brand ambassadors, Alfa Romeo has therefore completely redesigned its virtual store to encourage discovery and enhance the image of a brand with a strong Italian connotation; in over a century of history, it has always managed to keep in step with the times without neglecting its roots. Specifically, the experience of navigating through the various categories is highly intuitive, to encourage straightforward and in-depth exploration. Each product image is accompanied by texts and technical specifications, immediately providing users with all the information they need. Read more
911 Targa 4S, Sicily, 2024, Porsche AG „Gijs“ van Lennep and his Sicily
Following in the tracks of the Porsche Travel Experience Sicily, our trip will also become an informative encounter between two generations of race car drivers.
The life of Jonkheer Gijsbert “Gijs” van Lennep is by no means short of special moments. In 1971, he won the legendary 24 Hours of Le Mans in a Porsche 917, repeating the feat in 1976 in the Porsche 936. He drove in Formula 1 and won the sports car class in the 1,000 kilometre race at the Nürburgring. And yet 13th of May towers above all the other victories. It was the last race of its kind. And Gijs won it. Even though, at the start, nobody would have bet even one lira on him winning.
To finish first, you first have to finish
The favourites, who lined up for the 57th edition of the Targa Florio that day, seemed unbeatable. The strong vehicles of Alfa and Ferrari were clear favourites for the win. They were driven by some of the most famous drivers of their time – Italians no less, who were very popular with the Sicilian public. Only a few suspected that this would be the last time the race on public roads was to be part of the World Sportscar Championship. None of the thousands upon thousands of spectators along the route expected to see the silver Porsche 911 RSR, with its eye-catching Martini livery, taking first place. Even Gijs was a realist and had aimed for fifth place. But what is one of the most important sayings among race car drivers? To finish first, you first have to finish. And so, in the end, the win didn’t just go to Gijs and his partner Herbert Müller, but also to the reliability of their 911 RSR. They had finished developing it a few months earlier in icy temperatures on the Paul Ricard racetrack together with the racing team from Zuffenhausen. “In the early morning, we scraped the ice off the cars, and then we drove lap after lap until the car was as perfect as we wanted it to be.”
Gijs van Lennep, Ayhancan Güven, Sicily, 911 Targa 4S, 2024, Porsche AG
Gijs van Lennep and Ayhancan Güven: The history of the Targa Florio comes to life on the Cerda pit wall.
911 Targa 4S, Sicily, 2024, Porsche AG
911 Targa 4S, Sicily, 2024, Porsche AG
911 Targa 4S, Sicily, 2024, Porsche AG
On our tour, Gijs enjoys being able to take his eyes off the road from time to time.
Gijs van Lennep, Ayhancan Güven, Sicily, 911 Targa 4S, 2024, Porsche AG
Gijs van Lennep and Ayhancan Güven: The history of the Targa Florio comes to life on the Cerda pit wall.
911 Targa 4S, Sicily, 2024, Porsche AG
When does a race car driver ever have the opportunity to enjoy the beautiful surroundings whilst on the track?
Almost 50 years after his legendary victory, we revisit the route of his iconic triumph together with Gijs. We drive the original 72 kilometres of the Piccolo Circuito delle Madonie, which the participants of the Porsche Travel Experience Sicily also visit on their journey. But above all, we take a look at the beauty and attractions that Sicily has to offer on either side of the former racetrack – a perspective that Gjis was never able to appreciate during his active racing career. The Targa Florio was far too brutal for any racer to take their eyes off the road even for a second. Read More
In the global market, the price of Azerbaijani oil has increased, Azernews reports.
The price of one barrel of oil branded “Azeri Light” has increased by 0.27 dollars or 0.32 percent to reach 84.21 dollars.
In the global market, the price of Azerbaijani oil has increased.
It should be noted that the lowest price of “Azeri Light” oil was recorded on April 21, 2020 (15.81 US dollars), and the highest price was recorded in July 2008 (149.66 US dollars). Read More
The Organization of the Petroleum Exporting Countries (OPEC) extends its sincerest and deepest condolences on the passing of HE Ayatollah Dr Ebrahim Raisi, President of the Islamic Republic of Iran, to his family, the leadership and people of the Islamic Republic of Iran, and the entire OPEC Family.
OPEC Secretary General, HE Haitham Al Ghais, said: “It is with great sadness and deep sorrow that we have learned of the tragic passing of HE Ayatollah Dr Ebrahim Raisi, President of the Islamic Republic of Iran, and other senior government officials. In these difficult times, on behalf of myself and all the staff at the OPEC Secretariat, I extend my condolences and sympathy to the esteemed leadership and people of the Islamic Republic of Iran and the families of HE President Raisi and other officials.”
HE Al Ghais met with HE President Raisi in May 2023 in Tehran, IR Iran, during the Secretary General’s first official visit to the OPEC Founding Member. The meeting focused on IR Iran’s role in the global oil and energy markets, as well as the future outlook for investments in the oil industry in the Islamic Republic of Iran.
The entire OPEC Family commiserates with the family of HE Dr Raisi, and the leadership and people of the Islamic Republic of Iran. Read More
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $79.81 | Up |
| Crude Oil (Brent) | USD/bbl | $83.81 | Up |
| Bonny Light | USD/bbl | $83.46 | Down |
| Saharan Blend | USD/bbl | $82.56 | Down |
| Natural Gas | USD/MMBtu | $2.65 | Up |
| Murban Crude | USD/bbl | $85.05 | Up |
| OPEC basket 16/05/24 | USD/bbl | $83.30 | Up |
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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