ENERGY NEWSTRACK TO 14/02/19:

Posted On February 14th, 2019 - 5:11 pm | by Oil and gas press

The price of OPEC basket of fourteen crudes stood at $62.94 a barrel on Wednesday, 13 February 2019, compared with $61.88 the previous day, according to OPEC Secretariat calculations The OPEC Reference Basket of Crudes (ORB) is made up of the following:

Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

US West Texas Intermediate crude $54.43 a barrel

Brent crude $64.49 per barrel,

Brent Blend is a combination of crude oil from 15 different oil fields in the North Sea. It is less “light” and “sweet” than WTI, but still excellent for making gasoline. It is primarily refined in Northwest Europe, and is the major benchmark for other crude oils in Europe or Africa.

Mitsubishi Electric Develops Robust Sensing for Autonomous Driving

The company announced today that it has developed sensing technology for highly accurate detection of vehicle perimeters even in dense fog or heavy rain.


Mitsubishi Electric Develops Super Compact Power Unit and High Power Density Electric Machine for Hybrid Electric Vehicle
The company announced today that it has developed what is believed to be the world’s smallest power unit for a two-motor hybrid electric vehicle (two inverters and one converter), measuring just 2.7 liters in volume, offering a world-leading 150 kVA/L power density.


Texas Oil Production Breaks New Record Texas oil wells produced more than 1.54 billion barrels of crude in 2018, topping the previous record of 1.28 billion barrels set in 1973, TIPRO reported in its annual “State of Energy Report.” Natural gas production also grew, reaching 8.8 trillion cubic feet (tcf) last year. In 2017, Texas also came close to beating the 1973 oil output record, pumping 1.26 billion barrels of oil.

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