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The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria.

Ramzi Boudina | Reuters

The United Arab Emirates does not intend to leave the influential OPEC oil alliance at this time, two senior officials with knowledge of the matter told CNBC, after a recent report signaled internal talks over such a departure.

The sources spoke on condition of anonymity as they are not allowed to publicly discuss the topic. The UAE oil ministry and Adnoc, the state-owned oil company of the United Arab Emirates, did not immediately respond to CNBC requests for comment.

On March 3, the Wall Street Journal reported that rising political disagreements between OPEC+ chair Saudi Arabia and the UAE have once more sparked questions over the latter’s future in the producers’ coalition.

Such a departure would remove the cooperation of the third-largest producer of the OPEC subgroup and hint at further disunity within the alliance after the recent exits of Ecuador and Qatar — at a time when oil prices remain trapped between limited global spare capacity and potential demand increases from a reopening China.

The Brent contract with May expiry was trading at $84.76 per barrel at 1 p.m. London time, down by $1.07 per barrel from the previous close price. The front-month Nymex WTI contract was at $78.72 per barrel, lower by 96 cents per barrel from the previous settlement price.

Abu Dhabi has historically been a staunch ally of Saudi Arabia in OPEC dynamics and, alongside Kuwait and Riyadh, shaped the informal Gulf trifecta that has occasionally stepped in to assist group policies with additional, voluntary production cuts. Beyond oil strategy, the close ties between Saudi Arabia and the UAE have started to show some strain, as the two countries have diverging aims in the conflict in Yemen and vie for foreign investment.

The UAE abides by the UN sanctions list, the country's economy minister says

Oil divisions first emerged in the summer of 2021, a year into a spartan Saudi-led production strategy to drastically lower OPEC+ output in response to the Covid-19 demand shock for transport fuels. OPEC+ decisions require unanimous endorsement, and the UAE at the time exercised its veto to hold up a group meeting until it earned a concession that it — alongside Russia, Kuwait, Saudi Arabia and Iraq — should receive a higher production “baseline.” Baselines are the reference level that determine the starting point for a country’s pro-rata contribution to OPEC+ collective cuts or increases. The higher the baseline, the higher the level to which an OPEC+ member country may produce without violating its commitments.

Individual members’ bids to increase their OPEC+ quotas have largely died down in recent months, as underinvestment, sanctions, sabotage and infrastructural collapse saw the quotas of several countries surpass their production capacity. The UAE is one of a handful of OPEC+ members that has remaining spare capacity and is working to bolster it. Paris-based watchdog, the International Energy Agency, found that the Emirates’ most recently produced 3.23 million barrels per day in February, well below its country’s IEA-assessed sustainable capacity of 4.12 million barrels per day. Abu Dhabi is working to hike its spare capacity to 5 million barrels per day by 2027.

The tense discussions of 2021 sparked questions of potential pressure that the state-owned Abu Dhabi National Oil Company could be exercising on the oil ministry to reduce oil cuts that rein in national revenues. Three sources indicated to CNBC that there is currently no friction between Adnoc and the ministry over the UAE’s ongoing participation in OPEC+. The two organizations are fully aligned, one of the sources said.  

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Striking a balance between the profit priorities of national oil companies and the OPEC+ loyalties of oil ministries often epitomizes the challenge that OPEC+ member countries face to choose between short and long-term gains. The coordination between the two entities is seamless in some countries: Saudi Arabia’s state-controlled Aramco typically awaits the conclusion of OPEC+ meetings before releasing its official formula prices to customers at the start of the month.

Adnoc is in a cycle of growing and diversifying the reach of its business. The company is expected to float 5% of its Adnoc Gas business in a highly anticipated public offering and begin trading on March 13. Adnoc is also looking to open a full-fledged Geneva office for its trading subsidiary on an uncertain timeline.

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Coterra shifts its view on oil, again. Here are our 3 takeaways as investors in the stock

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Coterra shifts its view on oil, again. Here are our 3 takeaways as investors in the stock

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Solid-state EV batteries with +1,800 miles range? It sounds too good to be true

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Solid-state EV batteries with +1,800 miles range? It sounds too good to be true

Another company claims to have solid-state EV batteries in the works that will unlock well over 1,000 miles (3,000 km) of range and fast charging in just five minutes. And it’s not BYD this time. Is it too good to be true?

Can solid-state EV batteries unlock +1,000 miles range?

Last week, a local report surfaced, claiming BYD was already testing solid-state batteries in its Tesla Model 3-rivalling Seal sedan.

BYD addressed the rumors in a statement released on Monday (via CLS), saying, “Currently it is unknown, and the first model and parameters are not officially reported.”

In a new patent, discovered by CarNewsChina, Chinese tech giant Huawei filed for a sulfide-based all-solid-state battery. The new battery reportedly unlocks a driving range of up to 3,000 km, or over 1,800 miles, and supports ultra-fast charging in just five minutes.

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Is it really possible, though? To put that into perspective, the current longest-range electric vehicle you can buy, the 2025 Lucid Air Grand Touring, is rated with a WLTP driving range of up to 839 km (521 miles).

Solid-state-batteries-range
Lucid Air electric sedan (Source: Lucid)

On the EPA scale, Lucid’s electric sedan is rated for a driving range of up to 512 miles and features fast charging (up to 200 miles) in 12 minutes.

That would mean Huawei’s new battery would unlock over three times the driving range while cutting charging times by over half. It would also have energy density that’s two to three times higher, between 400 and 500 kWh.

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BMW i7 equipped with all-solid-state EV battery cells from Solid Power (Source: BMW Group)

According to industry experts in Korea, the claims might be too good to be true. Yang Min-ho, professor of energy engineering at Dankook University, explained that “Even the most advanced lithium-ion batteries, which generally have higher capacity than solid-state prototypes, fall far short of that kind of range.”

Yang said that “Such performance might be possible in lab conditions,” adding “but real-world factors like energy loss and thermal management make mass production extremely difficult.”

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Mercedes EQS modified with a solid-state battery (Source: Mercedes-Benz)

The patent describes a new approach, doping sulfide electrolytes with nitrogen, to improve stability. According to a researcher for one of Korea’s major battery makers, the nitrogen doping approach is “a standard technique with limited scalability.”

“While nitrogen doping can help with interface stability, it’s usually done under vacuum and with great precision,” the researcher pointed out, adding “It’s not something you can scale for commercial production without major cost and time penalties.” They described it as “like trying to sprinkle pepper on a sandwich using tweezers.”

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BYD Seal test drive in Mexico (Source: BYD)

Although it sounds promising, Huawei’s patent needs additional third-party validation or other data to suggest it’s production-ready. “That’s the nature of patents. They grant rights, not credibility.”

According to the researcher, Korean battery giants, LG Energy, Samsung SDI, and SK On, don’t seem too worried. “We monitor developments in China closely, but this doesn’t look like a game-changer yet,” they said.

Samsung SDI has already sent solid-state battery samples to clients and aims to begin mass production by 2027: LG Energy and SK On both plan to introduce solid-state battery tech by 2030.

Solid-state-EV-batteries-range
(Source: Stellantis)

Are solid-state EV batteries capable of delivering ultra-long driving range as promised? It may, but it could be a few years before it hits the market. As Yang said, “Battery science doesn’t move in leaps. It moves in increments, and those increments take years to scale.”

Meanwhile, several automakers and others are also advancing solid-state EV batteries, promising longer driving range and faster charging.

Mercedes-Benz announced it had tested “the first car powered by a lithium-metal solid-state battery on the road” with Factorial Energy earlier this year using a modified EQS. Last month, BMW completed its first on-road tests using Solid Power’s all-solid-state battery (ASSB) cells. CATL, Stellantis, Nissan, Volkswagen, and Nissan have also announced plans to launch EVs with solid-state batteries in the next few years.

Will the “holy grail” of EV batteries live up to its hype? Let us know your thoughts in the comments below.

Source: The Korea Herald

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HappyRun G300 Pro review: It’s an electric motorcycle with pedals and I’ve got some thoughts

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HappyRun G300 Pro review: It's an electric motorcycle with pedals and I've got some thoughts

The HappyRun G300 Pro is the epitome of an out-of-class electric bike. That is to say, it has many of the components of an electric bicycle, key among them the functional pedals, but its extremely high power and speed place it well outside the limits of traditional e-bike classifications. The result? Basically, an electric motorcycle with pedals. And I’ve got some thoughts about that.

But before I dive into those, this is one of those rides that you’ll want to see in action. Check out my review video below. Then keep reading for the full details.

HappyRun G300 Pro Video Review

HappyRun G300 Pro Tech Specs

  • Motor: 3,000W continuous and 6,500W peak-rated rear hub motor
  • Top speed: Up to 50 mph (80 km/h)
  • Range: Claimed up to 70 miles (121 km)
  • Battery: 72V 30Ah (2,160 Wh)
  • Weight: Heavy (well off the scale on my 100 lb scale)
  • Brakes: Quad-piston DYISLAND hydraulic disc brakes
  • Front suspension: inverted front fork
  • Rear suspension: “Yopi Box” rear spring suspension
  • Extras: Looks like a Sur Ron or Talaria-style bike, color LED display, included fenders, LED headlight and tail light with turn signals, very nice kickstand, two color options available.

What is this even for?

Despite looking like a bicycle in some regards, I definitely felt wrong using this in the bike lane. That meant for 95% of my road riding, I was simply in the lane like a motorbike. The only times I would use the bike lane were when I could see it was completely empty, and it was basically just a shortcut past the stopped traffic at red lights. And even then, it just didn’t sit right with me. I’m an e-biker and I live a car free life, so the safety of bike lanes is an important issue for me. I’m not going to jeopardize other riders or even make them feel unsafe in the tiny little sliver of asphalt that is supposed to feel like home for us, and so I ride this thing in the road when I’m on the road.

That being said, I don’t even think the road is the right place for this bike. Where it really shines is off-road. Between the long travel suspension, the enduro-style seat, and the unnecessarily high power for commuting purposes, the HappyRun G300 Pro is at home in the dirt and on the trails. In fact, I even enjoyed overlanding on it, going places where trails couldn’t take me. It felt like a great exploring-the-outdoors type of ride!

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If you watch my video above, you’ll see that this type of riding, recreational and exploring, is where the HappyRun G300 Pro really came into its own, and I think that’s precisely where it belongs. Just like how Sur Rons and Talarias shouldn’t really be taking over the streets, but instead should stick to the dirt trails they excel at, this is a great bike for that purpose. You’ll also notice in the video that I prefer to wear my motorcycle gear when I ride these types of bikes, and I’d make that recommendation to anyone else. A t-shirt and a bike helmet just don’t feel like enough here.

With that in mind, the included bicycle pedals start to seem superfluous though, and I really only pedaled at slow speeds, or when ghost pedaling because a cop was in the area and I didn’t want to get a bike impounded before I was even done reviewing it. So if you ask me, it doesn’t really need the pedals, and it doesn’t even really need the roads.

What about the build?

The HappyRun G300 Pro is an interesting mix of quality parts and merely acceptable parts. Nothing about it seemed terrible or dangerous, and a few components like the Sur Ron kickstand actually impressed me. But then the use of a bicycle-level handlebar stem and budget-level shocks seems to undercut that message.

On the other hand, the massive 72V 30Ah battery is huge and likely more than most people would need. I’d have preferred to see it being UL-listed, but I guess at least it claims to be underwritten by some Chinese insurance agency. I guess that’s better than nothing?

The geometry actually kind of sticks the landing, at least for me and my 170 cm (5’7″) height. The saddle is plenty comfortable, though my off-roading had me out of the saddle much of the time anyway and letting my legs join the full-suspension to better absorb the terrain.

What’s my verdict?

Here’s the thing: nothing about this bike is top shelf, but it still offers an incredibly fun, solid feeling ride. The power is more than most people need, the speed is faster than most people should ride (especially on trails), and the battery has more capacity than most people would require. So it’s not like they’re cutting corners on performance.

Some components could have been beefed up, and the decision to lean more towards bicycle-level components does make me question what a few years of hard off-road riding could do to this bike. But when used correctly, in an area where the bike is meant to be used (i.e., not where it legally isn’t allowed to be ridden), then it seems to fulfill the role of a fun adventure-style bike. At a price of $2,599 (or $100 off with the code ELECTREK), it significantly undercuts the cost of a Sur Ron or Talaria bike while giving a similar type of ride, even if the components don’t live up to the level of those costlier light electric dirt bikes.

My biggest worry, though, isn’t about the bike, but rather the potential for it to be misused. Look, it’s a fun ride and offered me more performance than I needed for all the different types of riding I tested it with. But like any bike, it has to be used in its element. We don’t blame the hammer if someone hits their thumb while driving a nail, and we shouldn’t blame the bike if someone wraps it around a parking meter. But it also really shouldn’t be used in that kind of environment, and it definitely shouldn’t be used in a way that could put others at risk.

It’s a fun ride for exploring, but this level of power requires some serious personal responsibility. If you’re a parent wondering if you should get this for your 16-year-old, the answer is probably “No.” But if you’ve got a fully developed prefrontal cortex and you want a fast and powerful ride without breaking the bank, this might be a decent option.

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