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Israeli Firm Claims EV Charging Breakthrough

The company contends the rapid charging batteries could overcome range and charging anxiety, a critical barrier to mainstream EV adoption. (Bloomberg) Israeli company StoreDot Ltd. has manufactured the first battery for electric vehicles that can be charged in just five minutes, a step toward making refueling as fast as cars at a gas station. The lithium-ion samples were produced by StoreDot’s strategic partner in China, Eve Energy Co., and have been used as a demonstration in a two-wheeled scooter. StoreDot said that rapid charging batteries could overcome range and charging anxiety, a critical barrier to mainstream EV adoption.

Oil Rises on Weaker Dollar and Commodity Optimism

API Signs MOU with Azerbaijan Oil Company

The American Petroleum Institute has signed a Memorandum of Understanding with the State Oil Company of Azerbaijan Republic. The American Petroleum Institute (API) has revealed that it has signed a Memorandum of Understanding (MOU) with the State Oil Company of Azerbaijan Republic (SOCAR). The primary purpose of the MOU is to provide a platform to enhance cooperation and collaboration between the organizations “on a number of fronts”, according to the API. These include the implementation of API standards across all industry segments and operations in Azerbaijan, participation in API’s Process Safety Site Assessment Program (PSSAP) and Pipeline Safety Management System (SMS) Third Party Assessment Program and capacity building and certifying SOCAR business units to API quality management systems.

Oil Discovery Made in US Gulf of Mexico

Kosmos Energy (NYSE, LSE: KOS) announced Tuesday an oil discovery in the U.S. Gulf of Mexico at the Winterfell infrastructure-led exploration well. Kosmos Energy (NYSE, LSE: KOS) announced Tuesday an oil discovery in the U.S. Gulf of Mexico at the Winterfell infrastructure-led exploration well. The well, which is situated in approximately 5,300 feet of water and was drilled to a total depth of around 23,000 feet, was designed to test a sub-salt Upper Miocene prospect located in Green Canyon Block 944. It encountered approximately 85 feet of net oil pay in two intervals, Kosmos revealed. The company said it will now work with its partners on an appraisal plan and development options. The find is said to be located within tie back distance to several existing and planned host facilities.

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