Global Energy/Automotive news, commentary and analysis | May 20, 2025
London, May 20, 2025 (Oilandgaspress) –- Oil Prices Steady Amid Uncertainty On US-Iran Nuclear Negotiations
Tata Motors strengthened Magenta Mobility’s Ace EV fleet to 350 vehicles with the delivery of additional 20 units. This delivery is part of the MoU signed in 2023 between Tata Motors and Magenta Mobility to deploy 500 units of Ace EVs. Deployed in 10 cities, Tata Ace EVs operated by Magenta Mobility have already clocked approximately 50 lakh cumulative kilometres, resulting in an estimated 2,500 tonnes of CO₂ emissions saved. The country’s most advanced, zero-emission commercial vehicle is actively deployed across segments like e-commerce, parcel & courier, FMCG, FMCD and dairy. Underpinned by a robust platform and equipped with rugged aggregates, Tata Ace EV offers a certified range of 161km and has a high payload capacity of 1000kg. The electric small commercial vehicle is powered by Tata Motors’ Fleet Edge connected vehicle platform that provides real-time insights into vehicle and driver performance. Regenerative braking and an advanced
ADNOC and Tubacex Sign Agreement to Localize Oilfield Technology in the UAE ADNOC announced today the signing of a strategic partnership agreement with Tubacex, a global leader in advanced tubular solutions, to localize critical oilfield technology, enhancing the resilience of the UAE’s industrial base. The announcement was made at the ‘Make it in the Emirates’ forum in Abu Dhabi.
The agreement grants ADNOC perpetual and exclusive rights to utilize Tubacex’s Sentinel Prime premium tubular joint connection technology, which is critical for completing oil and gas wells while reducing costs and ensuring supply chain resilience.
Tubacex will establish a dedicated research and development (R&D) center in Abu Dhabi. This facility will act as a hub for advanced engineering and train highly skilled technicians in-country – contributing to the development of local talent.
ADNOC and EGA Sign $500 Million Deal ADNOC and Emirates Global Aluminium (EGA) announced today a five-year supply agreement for up to 1.5 million tonnes of calcined petroleum coke (petcoke), a key raw material used in aluminum production. The agreement, valued at $500 million (AED1.84 billion), was signed during the ‘Make it in the Emirates’ event currently taking place in Abu Dhabi, underscoring ADNOC’s commitment to supporting the UAE’s industrial growth and enhancing local supply chains.
Through the agreement, ADNOC Refining will supply at least 30% of EGA’s calcined petcoke requirements from the Ruwais Refinery over the next five years, strengthening the UAE’s role as a global aluminum supplier by reducing its reliance on imports and fostering local industrial capabilities. The agreement with EGA – the largest industrial company in the UAE outside of the energy sector – supports ADNOC’s successful In-Country Value (ICV) Program by promoting economic diversification in the UAE and supplying critical manufacturing materials to advanced industries.
The signing of the agreement was witnessed by His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO and Abdulla Kalban, Managing Director of EGA. It was signed by Khaled Salmeen, ADNOC Downstream CEO and Abdulnasser Bin Kalban, CEO of EGA.
Vehicle Digital Passport Hyundai Motor India Limited (HMIL) has launched the Hyundai Vehicle Digital Passport, advancing connected car technology in India. Using data analytics, the Hyundai Vehicle Digital Passport draws information from vehicle telematics and service records to generate a comprehensive digital identity of Bluelink enabled Hyundai vehicles.
This value-added solution offers insights about periodic service, accidental history, malfunction indicator, warranty, driving details and much more – offering Hyundai customers a one-point access to their connected vehicle’s performance and health.
Hyundai Motor Manufacturing Middle East Hyundai Motor Manufacturing Middle East (HMMME), a joint venture between PIF and Hyundai Motor Company, today hosted its groundbreaking ceremony in the recently announced King Salman Automotive Cluster within King Abdullah Economic City (KAEC). The ceremony is a significant milestone that marks another step in the development of the automotive industry in the Kingdom of Saudi Arabia.
PIF owns a 70% stake in HMMME, with Hyundai holding the remaining 30%. The manufacturing plant, Hyundai’s first facility in the Middle East, will roll out its first vehicle by the fourth quarter of 2026 and targets an annual production of 50,000 vehicles. This will include both internal combustion engine (ICE) and electric vehicles (EV).
Mercedes-Benz eActros 600 as endurance runner at Wessels Logistik To ensure that the operation of the electric trucks is not only sustainable, but also economical, the company from Rhede in German region Münsterland uses two of its three Mercedes-Benz eActros 600 trucks in shift operation. Wessels Logistik includes August Wessels GmbH and Wessels Cargo GmbH. August Wessels GmbH specializes in disposal and bulk goods transport, while Wessels Cargo GmbH focuses on general cargo transport, partial and complete loads and logistics services.
“Two-shift operation is necessary,” emphasizes Managing Director Andre Wessels. “It makes the deployment economical for us; in our case, the fixed costs would be too high in single-shift operation.” At the end of February, the company added its first two eActros 600 semitrailer tractors to the fleet. Another eActros 600 will soon be launched as a tandem articulated train and will operate regular scheduled services on behalf of a logistics service provider. Further electric trucks are on the way, including an eActros 300 as a 26-tonne truck and another eActros 600 semitrailer tractor. The charging infrastructure is ramped up synchronously with the ramp-up of the battery-electric vehicle fleet: By the end of June, it will be in operation and enable highly efficient depot charging.
Lithium iron phosphate batteries enable higher charging capacities and storage capacities
According to the 45-year-old freight forwarder who runs the company in the fourth generation, the decisive factor for the purchase of the Mercedes-Benz electric trucks was the overall package. One thing particularly convinced him about the eActros 600: the new battery technology, as the lithium iron phosphate batteries enable to achieve higher charging capacities and storage capacities. The eActros 600 has three battery packs each with 207 kWh. They offer an installed total capacity of 621 kWh[1]. The logistics company from North Rhine-Westphalia, which is celebrating its 140th anniversary this year, has been relying on trucks with the star for many years. Around 70 of the company’s more than 100 vehicles come from Mercedes-Benz. The authorized dealer in Bocholt is only five kilometers away. “The aftersales service has completely adapted to us, the communication works flawlessly,” reports the company boss.
Under the brand name TruckCharge, Daimler Truck bundles its offerings around the e-infrastructure and charging of electric trucks. This includes consulting, setting up the charging infrastructure and its operation. Under the TruckCharge brand, the aim is also to set up a Europe-wide charging network for electric trucks that involves both the more than 1,000 dealers and interested customers of Mercedes-Benz Trucks in order to also open up their charging infrastructure to third parties and thus achieve better utilization.
Mercedes-Benz honours League of Legends player “Uzi” with a customised G-Class League of Legends pro Jian Zìháo, rather known as “Uzi”, will be inducted as a new member of the Hall of Legends in 2025. With that, Uzi becomes the second member of the Hall of Legends, next to Korean superstar “Faker”. The Hall of Fame honours the best League of Legends esports players of all time. As a partner of Riot Games, Mercedes‑Benz is presenting the official ‘Winner Film’. Additionally, Mercedes‑Benz is showing great respect to Uzi by honouring him with a very special vehicle – a customised G‑Class with EQ Technology.
Celebrating his induction into the Hall of Legends, Uzi becomes the new owner of a one-of-a-kind G 580 with EQ Technology. Crafted through the Mercedes‑Benz customisation programme MANUFAKTUR, which enables customers a variety of exclusive options, the vehicle showcases exceptional craftsmanship and individuality. Hand-finished to the highest standards, it includes interior details such as the engraved Hall of Legends lettering. With the special paint finish MANUFAKTUR Kalahari gold magno, which embodies the style of the Hall of Legends, the electric G-Class is the first of its kind in China. “Legends are not only recognised by their achievements, but also by the impact they leave behind. It is therefore an honour to celebrate Uzi’s induction into the Hall of Legends with a very special vehicle, which shall be a steady companion as he moves forward on his individual path.”
Bettina Fetzer, Vice President Mercedes-Benz Digital & Communication, Mercedes-Benz AG
On top of that, Mercedes‑Benz crafted a very special artwork for Uzi: created in collaboration with a renowned design studio, the piece shows Uzi in his hometown of Shanghai next to his new electric G‑Class. True experts can even identify subtle hints about Uzi’s career and life embedded as Easter eggs.
BYD beats Tesla in future readiness rankings BYD has overtaken Tesla in the future readiness rankings, an indicator referring to a company’s ability to anticipate and adapt to external changes, according to a report released Tuesday by a Swiss business school.
The “Future Readiness Indicator 2025,” compiled by the International Institute for Management Development (IMD), found the automotive industry being upended by electrification, digitization and geopolitical shifts.
BYD, along with Tesla and two other Chinese electric vehicle manufacturers — Geely and Li Auto — now occupy the top four spots in the auto category. “The top tier is dominated by companies with a strong EV and software focus,” Yu noted.
The 2025 indicator assesses 40 financial institutions, 21 automakers and 26 consumer packaged goods firms on criteria including innovation, regulatory agility and customer engagement.
Chinese companies’ localization efforts allow Western audiences to recognize them not just as Chinese brands with advanced technology, but as truly global enterprises that adapt to local markets, Yu highlighted.
Gen Z turns to social media for car buying advice China’s post-1995 generation is emerging as a powerful force in the country’s auto market, and they’re turning to social media—not dealerships—for guidance on what to buy, according to a J.D. Power report released on Tuesday.
The report finds that platforms like Douyin and Xiaohongshu now dominate the Gen Z purchase journey, replacing word-of-mouth recommendations and official brand channels with influencer content and short videos. Gen Z is the least likely age group to engage with corporate websites or traditional advertising, the study found, and far more likely to trust peer reviews and user-generated posts.
This generational shift is forcing automakers to rethink not just how they sell cars, but also what they build. Gen Z buyers now account for 26 percent of all new energy vehicle customers in China, helping push NEV penetration past the 50 percent mark.
New CEO Appointed Appointed at Citroën Xavier Chardon is appointed Chief Executive Officer of Citroën, effective June 2, 2025, reporting to Jean-Philippe Imparato, Stellantis’ Chief Operating Officer, Enlarged Europe.
Xavier Chardon will continue the momentum initiated by the brand in recent months. With a strong international background and in-depth knowledge of the Citroën brand, to which he dedicated almost 20 years of his career, Xavier Chardon’s mission will be to build on Citroën’s recent successes and accelerate the brand’s transformation in a rapidly changing automotive landscape.
Jean-Philippe Imparato stated: “I would like to thank Thierry Koskas for leading Citroën brand over the last two years and for achieving its line up renewal, most recently with the presentation of the new C5 Aircross.”
Honda to Realign Automobile Business Strategy Honda Motor Co., Ltd. Director, President and Representative Executive Officer (Global CEO) Toshihiro Mibe held a press briefing today, on Honda initiatives centering on automobile electrification.In order to sustainably offer the joy and freedom of mobility, Honda has put the highest priority on its initiatives in the areas of the environment and safety, including an ambitious goal to “achieve carbon neutrality for all products and corporate activities” and “zero traffic collision fatalities” by 2050.
For small-size mobility products including passenger vehicles, Honda believes that electric vehicles (EVs) are the optimal solution for achieving carbon neutrality from a long-term perspective. Based on this belief, Honda made the strategic decision to make a major shift toward the popularization of EVs and has been making progress with various initiatives. As for EVs, due to the revision of the product launch plan considering the recent market slowdown, the Honda global EV sales ratio in 2030 is now expected to fall below the previously announced target of 30%. On the other hand, current market demand for HEV models is high. Therefore, Honda will position its HEVs, mostly next-generation HEV models to be introduced to market in 2027 onward, as the powertrain that will play a key role during the transition period toward the popularization of EVs and further enhance its HEV lineup.
With the steady execution of this realignment, by 2030, Honda will strive to increase total automobile sale volume to above the current level of 3.6 million units, with a HEV sales target of 2.2 million units at the core.
Honda will further advance its original two-motor hybrid system, e:HEV hybrid system, and platforms in all aspects.
Volvo’s new electric truck The new long-distance electric truck from Volvo has a range of up to 600 kilometers and its batteries can be charged in 40 minutes. For the very first time, Volvo now shows its new heavy-duty electric flagship with potential to revolutionize long-distance truck transport. Volvo Trucks will formally launch and start taking orders for its new electric truck for long distances, the Volvo FH Aero Electric with e-axle, in the second quarter of 2026. However, already now, images and more details about the new electric truck are being revealed, while customers can also sign a letter of intent to buy the new truck.
The new FH Aero Electric has been designed for long-haul transport assignments, a segment that stands for a big part of truck transport CO2 emissions, and which has been challenging to electrify – until now. The new truck will have fast-charging capacity and up to 600 km pure electric driving range.
Charging the batteries in the new long-range Volvo FH Aero Electric will be done more rapidly as the new electric truck is adapted to the new MCS (Megawatt Charging System) standard. Charging the truck’s battery pack (from 20% to 80%) will take approximately 40 minutes
The new electric truck can have a total weight of 48 tonnes and has a payload capacity close to that of a conventional diesel truck.
Empire Wind project resumes construction Empire Offshore Wind LLC (Empire), a subsidiary of Equinor ASA, has been informed by the Department of the Interior’s Bureau of Ocean Energy Management (BOEM) that the stop work order has been lifted for the Empire Wind project, allowing construction activities to resume.The stop work order was issued on 16 April 2025. Following dialogue with regulators and federal, state, and city officials, the stop work order has been lifted and construction activities will resume.
“We appreciate the fact that construction can now resume on Empire Wind, a project which underscores our commitment to deliver energy while supporting local economies and creating jobs,” says Anders Opedal, President and CEO of Equinor ASA.
ADNOC and Tawazun Council Partner to Strengthen Collaboration in Key Sectors ADNOC and Tawazun Council have signed a framework agreement to strengthen strategic collaboration in key sectors in the UAE. The agreement will enable Tawazun Council to focus on its core mandate by receiving comprehensive logistical and operational support from ADNOC. The agreement was signed at the ‘Make it in the Emirates’ event currently taking place in Abu Dhabi.
Both entities will collaborate in key areas such as petroleum services, operations and maintenance, ensuring vital support for Tawazun Council. The partnership will also see both entities explore and develop future projects such as feasibility studies, land allocation and dedicated fueling stations tailored to Tawazun Council’s requirements.
The agreement was signed in the presence of His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO. The signatories were Dr. Nasser Humaid Al Nuaimi, Secretary General of Tawazun Council, and Saif Al Falahi, ADNOC Director Group Business Support and Special Tasks.The agreement builds on ADNOC’s longstanding strategic partnerships with key entities in the UAE across various sectors. Tawazun Council is an independent government entity that works closely with the Ministry of Defense and security agencies in the UAE
The Grande Panda Hybrid FIAT proudly launches the new Grande Panda Hybrid, marking a significant milestone in its global product strategy and supporting the electrified transition to a broader audience thanks to its new iconic, affordable, and cool B-segment vehicle designed for urban mobility. Following the recent launch of the fully electric version, the spotlight now turns to the hybrid variant, which marks the return of FIAT in the core of the B segment, now with an affordable and smart vehicle for urban mobillty. This new model doesn’t just signal a product debut: it marks the brand’s role as a leader in volume and accessibility, echoing the golden years of FIAT when simplicity, innovation, and emotional design moved millions. With its hybrid debut, the Grande Panda delivers a compelling combination of iconic Italian design, forward-thinking engineering, and sustainable mobility—all now more accessible than ever.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $62.54 | Up |
| Crude Oil (Brent) | USD/bbl | $65.48 | Up |
| Bonny Light 16/05/25 CBN | USD/bbl | $65.57 | — |
| Dubai | USD/bbl | $64.72 | — |
| Natural Gas | USD/MMBtu | $3.18 | Down |
| Sahara Blend | USD/bbl | $65.75 | Up |
| OPEC basket 19/05/25 | USD/bbl | $64.65 | Up |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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