Latest Energy/Automotive news,commentary and analysis | July 10, 2025 – Midday
London, July 10, 2025 (Oilandgaspress) –-Masdar and Iberdrola have reached two major milestones with a €5.2 billion co-investment in the UK’s East Anglia THREE offshore wind farm – the largest offshore wind transaction of the decade – and the full energization of their 476MW Baltic Eagle project in Germany.
These developments mark significant progress in delivering Europe and the UK’s offshore wind targets and advancing the companies’ €15 billion strategic partnership to accelerate clean energy deployment across key markets including the UK, Germany, and the US.
Signed in December 2023, the Masdar–Iberdrola partnership is one of the largest bilateral alliances in the global clean energy sector. Together, these projects accelerate Europe’s offshore wind build-out and underscore Masdar and Iberdrola’s commitment to tripling global renewable capacity by 2030.
East Anglia THREE co-investment agreement in the UK
Masdar and Iberdrola will co-invest in the 1.4GW East Anglia THREE wind farm in the UK, in the largest offshore wind transaction of the decade. Under the agreement, each company will have a 50% stake in and co-governance of the asset, which will be pivotal in advancing Europe’s ambitious offshore wind development targets. All the conditions precedent have been achieved and the transaction is expected to close shortly.
In addition, on 9 July the project financing for East Anglia Three was signed for approximately £3.5 billion – around €4.1 billion euros – with 24 international banks. Oversubscribed by 40%, the facility is one of the largest ever such transactions. It will cover a substantial part of the total costs of the project, estimated at approximately €5.2 billion, without consolidating debt in any of the partners’ financial statements.
Located off the Suffolk coast in the UK, East Anglia THREE will become one of the world’s two largest offshore wind farms when it comes into initial operation in Q4 2026, delivering enough clean energy to power 1.3 million British homes… Read More
Is the Chinese EV bubble about to burst? In June, BYD, officially now the world’s biggest electric vehicle maker, sold more cars in Britain than Mazda, Mini, Citroen and Dacia – a remarkable achievement for a brand that launched in the UK only two years ago.
And when you combine its sales with other recent Chinese debutants Omoda (launched August 2024) and Jaecoo (launched January 2025), the trio of relatively unknown marques last month delivered as many motors as Audi.
Given that a decade ago Chinese brands had little to zero presence in the UK, the speed and scale of their recent growth is unprecedented – and largely driven by their cheap, well-equipped EV models.
But as the wave of new battery-powered arrivals from the east continued this week with the confirmation that Geely, Denza and Chery will bring their sizeable profiles to the UK in 2025, a saturation of manufacturers is having a crushing impact on China’s domestic market.
Oversupply has resulted in overwhelmed competition, sparking a debilitating price war that some experts say could overflow into the UK market. Others believe it will result in a ‘bloodbath’ of Chinese brands, with around only one in ten existing marques likely to survive.
Plenitude and Nuova Simplast to develop an Energy Community Plenitude and Nuova Simplast – a company specialized in rotational molding and assembly of plastic components, with a strong focus on quality, efficiency, and process optimization – today announce the start of construction on an Energy Community in Montà d’Alba (Cuneo province).
This initiative is part of Plenitude’s broader strategy, which identifies Energy Communities – specifically CER (Renewable Energy Communities), AUC (Collective Self-Consumption), and AID (Individual Remote Self-Consumption) – as an innovative and sustainable energy model. These configurations offer businesses, citizens, and communities, within a local area, a tangible tool to produce, consume, and share renewable energy.
In the Individual Remote Self-Consumption (AID) configuration, the project will involve the construction of a 758 kWp photovoltaic plant, with an estimated annual production of approximately 860 MWh. The energy generated will be virtually shared with five Nuova Simplast supply points.
The plant will be installed on an unused industrial plot owned by Nuova Simplast, adjacent to its headquarters, and will share the renewable energy produced with the company’s nearby facilities. Due to the project, Nuova Simplast will become eligible for 20-year state incentives provided by law for Energy Communities, a portion of which – as required by regulation – will be allocated to support social initiatives in the area surrounding the plant.
Plenitude will support Nuova Simplast with all phases of the initiative – from design to the application for state incentives – and will also provide the “Plenitude Comunità Energetiche” digital platform, to enable the management and monitoring of the AID configuration.
Within the framework of Energy Communities, the Individual Remote Self-Consumption (AID) offers companies several additional advantages. In particular, AID allows solar energy systems to be installed on surfaces other than traditional rooftops, overcoming potential structural limitations. This flexibility enables businesses to make use of unused industrial land or adjacent plots, optimizing space and energy production.
Rimac Nevera R Becomes New 0-400-0 Champion The Nevera R has beaten every performance record previously set by the standard Nevera, establishing new world records in 24 categories and regaining the 0-400-0 km/h (0-249-mph) title, with a time of 25.79 seconds – 2.04 seconds quicker than the previous holder. Once again, the Rimac team has proven that its engineering and design talent is among the best in the world, able to push the limits of performance to create the fastest accelerating production car the world has ever seen — electric or otherwise.
Building on the extraordinary record-breaking legacy of the original Nevera, which famously set 23 performance records in a single day at the Automotive Testing Papenburg (ATP) facility in Germany in 2023, the Nevera R has now surpassed every one of those achievements. Completed in the car’s high-speed mode, and independently verified by Dewesoft, this final validation test ahead of the customer deliveries demonstrates the significant performance gains of the Nevera R.
Most notably, the Nevera R’s new 0-400-0 km/h (0-249-0 mph) record improves on the standard Nevera’s 29.93-second record by 4.14 seconds. The Nevera R achieved a new 0-60 mph time of 1.66 seconds, beating the Nevera’s 1.74-second record, while reaching 100 km/h in just 1.72 seconds compared to 1.81 seconds. At higher speeds, the improvements become even more pronounced, reaching 200 km/h in 3.95 seconds versus 4.42 seconds in Nevera, and to 300 km/h (186 mph) in just 7.89 seconds compared to the Nevera’s 9.22 seconds. The Nevera R topped out at 431.45 km/h (268.2 mph) to set a new record for the fastest EV top speed.
“When we first introduced Nevera it almost seemed like the pinnacle of hypercar performance had been reached. In a single generation, we had created a performance jump that previously would have taken decades. But now, through relentless innovation, Nevera R goes even faster, while still maintaining much of the comfort and practicality that makes the Nevera a real, usable daily car. Breaking records is in our DNA, and we won’t stop here.” Mate Rimac, Founder and President of the Rimac Group, CEO Bugatti Rimac and Rimac Technology
The original Nevera held the production electric vehicle top speed record at 256 mph (412 km/h), set a new production car hillclimb record at the 2023 Goodwood Festival of Speed with a time of 49.32 seconds, and established a new electric production car lap record at the Nürburgring Nordschleife of 7:05.298.
Limited to just 40 units worldwide with a starting price of 2.3 million EUR, each Nevera R now carries the distinction of being part of the most comprehensively record-breaking hypercar ever created.
Hyundai Motor IONIQ 6 N Debuts at Goodwood Festival of Speed, Setting New Benchmark for High-Performance EVs Hyundai Motor Company today unveiled IONIQ 6 N to the world at the Goodwood Festival of Speed, marking a pivotal milestone in Hyundai N’s electrification journey. From its origins in electric motorsport with Pure ETCR to the development of track-capable yet street-ready electric vehicles (EVs), Hyundai N is once again redefining the boundaries of high-performance electrification with the debut of the IONIQ 6 N.
Building on the success of the award-winning IONIQ 5 N, IONIQ 6 N integrates cutting-edge technologies and capabilities derived from Hyundai N’s motorsport programs and ‘rolling lab’ initiatives
The model embodies Hyundai N’s core principles — Corner Rascal, Racetrack Capability and Everyday Sportscar — delivering exceptional handling and an aerodynamic design that ensures stability and confidence at high speeds
With an official 0-100 km/h time of just 3.2 seconds (using N Launch Control) and a top speed of 257 km/h, IONIQ 6 N is a formidable presence on both road and track
Festival attendees can witness the power of Hyundai N in action during the ‘N Moment’ showcase on July 10, featuring a dynamic display of iconic Hyundai N models as they take on the legendary Goodwood Hillclimb
Volkswagen Group at the IAA Mobility . The Volkswagen Group is on its way to becoming the Global Automotive Tech Driver. At the IAA Mobility 2025 in Munich in September, the company will provide plenty of proof points for this in the form of technological innovations and celebrate several vehicle world premieres. The central promise is: Tech for the People. The Volkswagen Group wants to be close to its customers – and inspire them with the best vehicles, technologies and digital services. What makes this year special: on a total of six days, the Volkswagen Group will showcase exciting product presentations, interesting keynotes and panel talks with top-class guests from business and politics as well as a varied conference program on current topics from the automotive and technology sectors directly at the exhibition stand in Munich.
KBR Announces Leadership Change KBR today announced that Byron Bright has resigned from his position as Chief Operating Officer (COO) and will leave the company on July 11, 2025.
KBR would like to thank Mr. Bright for his 15 years of dedicated service. He has been an integral part of KBR’s transformation and success, and we wish him well in his next chapter.
In January 2025, KBR announced a realignment of its portfolio into two business segments, Mission Technology Solutions (MTS) and Sustainable Technology Solutions (STS). In connection with this realignment, Mr. Bright moved into the COO role from his previous position as President of MTS, and the company appointed new leadership for the MTS business segment. Doug Hill became President of KBR’s Readiness & Sustainment business, and Mark Kavanaugh became President of KBR’s Defense, Intel and Space portfolio globally. Mr. Hill and Mr. Kavanaugh have each served in multiple executive leadership positions at KBR for over eight years, are members of KBR’s Executive Leadership Team and will now report directly to the CEO alongside Jay Ibrahim, President of KBR’s STS business.
As a result of Messrs. Hill and Kavanaugh’s leading MTS, KBR expects no operational disruption in the MTS business or the broader KBR portfolio as a result of Mr. Bright’s departure.
Zonal energy pricing The UK government has ruled out the introduction of a zonal energy pricing system that would have seen regions closer to renewable energy sources likelier to see lower prices.
Ed Miliband’s Department for Energy Security and Net Zero has opted to reform the existing system by reviewing the way transmission charges work and incentivising the private sector to invest in renewable energy in areas of higher demand.
Consultation on a zonal energy pricing system lasted three years. Greg Jackson, founder and head of Octopus Energy, was among its biggest advocates.
The plan was seen as a way to get manufacturers and other electricity-dependent businesses to relocate to areas around Scotland, where windfarms often switch off due to low demand.
UAE’s policy supports OPEC+ decisions Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, emphasised the importance of the UAE’s role in the Organisation of the Petroleum Exporting Countries (OPEC) and the OPEC+. He affirmed the UAE’s support for all decisions made by the OPEC+ with the aim of achieving balance and stability in global oil markets.
In statements to the Emirates News Agency (WAM) on the sideline of his participation in the 9th OPEC International Seminar in Vienna, Al Mazrouei underlined that the UAE’s policy supports OPEC+ decisions and commended the wise leadership of the UAE for adopting a strategy that aims to boost the country’s production capacity.
He noted that this increased production capacity will be introduced into the market at the appropriate time when demand arises, stressing that such an expansion will act as a stabilising factor for markets and oil prices.
He expressed satisfaction with OPEC’s gradual return to the markets, highlighting that this return has not negatively impacted price stability. This, he said, proves that the organisation and the OPEC+ group are fully aware of market demands.
He also projected that the group’s share would increase due to anticipated investments by member countries such as the UAE, which has invested significantly in expanding its production capacity.
Saudi Aramco in talks with Commonwealth LNG Aramco is in talks with Commonwealth LNG to buy liquefied natural gas from the U.S. company’s proposed facility in Cameron, Louisiana, as it seeks to strengthen its position in the market for the superchilled fuel, four people told Reuters on Wednesday.
The talks are for 2 million tons per annum (mtpa), two of the people said.
Aramco and Commonwealth LNG did not immediately respond to Reuters requests for comment.
If a deal is struck, it will bring Commonwealth LNG closer to the 8 mtpa it plans to sell out of the plant’s capacity of 9.5 mtpa. So far the company has 4 mtpa in signed sales and purchase agreements, and one non-binding heads of agreement deal for 1 mtpa.
Commonwealth LNG has been attempting to build the United States’ first integrated LNG export facility that will see its major shareholder Kimmeridge selling gas from its Eagle Ford shale production to the plant.
Commonwealth LNG has said it plans to get to a positive financial decision on construction of the Cameron plant by the end of the year. It could contribute to the U.S. remaining the world’s largest exporter of LNG.
OPEC sees global oil demand at almost 123 mb/d in 2050 The 2025 OPEC World Oil Outlook (WOO) was launched today at the 9th OPEC International Seminar. First published in 2007, and now in its 19th edition, the Organization’s flagship annual publication offers valuable insight on the medium- and long-term prospects for the global oil and energy sectors.
This year’s publication sees that the world will require more energy in the decades to come, with global energy demand set to be expand by 23% to 2050. Global oil demand is set for continued robust growth, reaching almost 123 mb/d by 2050. The analysis and key findings take on board recent energy and economic-related developments, particularly the substantial shifts in energy policy as decision-makers address the challenges of energy security, energy affordability and the need to reduce emissions.
The publication also underlines the need for all energies to address future energy needs, the significance of ensuring that necessary investments are made, which is linked to providing the right enabling environment, and the importance of bringing modern energy services to billions that continue to go without.
OPEC Secretary General, HE Haitham Al Ghais, said that the world requires more energy in the decades to come, and “for this to be available in a secure, stable and realistic manner that the world will continue to need all energies”.
HE Al Ghais also highlighted that the world will continue to need all energies. “It is also a future in which we need to embrace all technologies, to drive innovation and efficiencies, and ensure that all peoples are taken into account, particularly given that it is the non-OECD developing world that will drive future energy growth”.
The publication is available for download on the OPEC website and via two digital interfaces, the OPEC WOO App and a comprehensive interactive version, which can be accessed at woo.opec.org.
Five Media Outlets Banned From OPEC Vienna Meeting OPEC has refused accreditation for Reuters, Bloomberg, the New York Times, the Financial Times, and the Wall Street Journal for its meeting in Vienna, which is taking place this week.
“We believe that transparency and a free press serve readers, markets, and the public interest, and we object to this restriction on coverage,” Bloomberg quoted a Reuters spokesman as saying, adding that it had been given no explanation by OPEC for the decision to refuse it accreditation.
“We are once again very disappointed that OPEC is excluding journalists, including from Bloomberg News, from its seminar,” a spokesperson for Bloomberg said. “Market transparency is clearly in the public interest, and we continue to strongly advocate for OPEC to allow journalists from relevant global news outlets to attend its events.”
In the interest of fairness, there are plenty of media that have been accredited to cover the OPEC meeting, so “market transparency” will, in all likelihood, be upheld. However, the five publications denied access to the meeting have been some of the most vocal advocates for a transition to a net-zero economy, amplifying advocates of this transition and downplaying the realities of oil and gas demand.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $67.68 | Down |
| Crude Oil (Brent) | USD/bbl | $69.58 | Down |
| Bonny Light 07/07/25 CBN | USD/bbl | $72.68 | — |
| Dubai | USD/bbl | $70.70 | Up |
| Natural Gas | USD/MMBtu | $3.19 | Down |
| Murban | USD/bbl | $70.87 | Down |
| OPEC basket 09/07/25 | USD/bbl | $71.89 | Up |
Official Opening Daimler Truck Global Parts Center Halberstadt s a new central logistics location in Halberstadt, Saxony-Anhalt, the Global Parts Center is the heart of the worldwide spare parts supply for Mercedes-Benz Trucks. Almost two years after the official foundation stone was laid, the system will now be gradually commissioned. In future, up to 300,000 different replacement parts will be delivered from the Global Parts Centers to over 170 countries worldwide.
Site in the federal state of Saxony-Anhalt, Germany, becomes the heart of Mercedes-Benz Trucks’ global spare parts supply
Central logistics hub to be gradually commissioned just under two years after the official ground-breaking ceremony
Efficient spare parts logistics as key success factor for Daimler Truck and its customers: fast and comprehensive parts supply enables vehicle fleets to maximize uptime and minimize downtime
Global Parts Center is planned from the start for CO₂-neutral operation
Karin Rådström, CEO Daimler Truck: “Our new Global Parts Center enables us to even better serve our customers. From Halberstadt, we can supply them with Mercedes-Benz Trucks spare parts quickly and efficiently in over 170 countries, ensuring maximum uptime for their trucks. This will further strengthen our ability to deliver on Daimler Truck’s purpose: For all who keep the world moving.”
Dr. Reiner Haseloff, Minister-President of Saxony-Anhalt: “Today is a great day for Halberstadt and the entire state of Saxony-Anhalt. Investments like this are not common, especially in these difficult times. The fact that a global company like Daimler Truck has chosen Halberstadt shows that Saxony-Anhalt has lost none of its appeal as a business location. The investment will strengthen the region for the long term and send a signal to other potential investors.”
Tata Motors introduces Lifetime HV Battery Warranty for Curvv.ev and Nexon.ev 45 kWh Tata Motors – the leader of India’s electric vehicle revolution and the nation’s leading SUV manufacturer announced the introduction of Lifetime HV Battery Warranty for the Curvv.ev SUV Coupe and the Nexon.ev 45 kWh.
The Lifetime HV Battery Warranty, first introduced with the recently launched Harrier.ev, received widespread appreciation from consumers nationwide. Encouraged by this positive response, the company has now extended this offering to existing and new first-time customers of two of its most popular SUVs. By removing one of the biggest barriers to EV adoption — uncertainty around long-term battery health and replacement costs — TATA.ev is ensuring a greater ownership experience to its customers with this solution. This warranty, which is among the most comprehensive assurances when it comes to purchasing an EV, is being extended to all private individual customers of the Curvv.ev and Nexon.ev 45 kWh. This includes both new first-time buyers and current owners who are registered as the first owners of either of these two SUVs.
This new warranty not only supports the progressive development of long-term resale value for EVs but also complements the significant savings in running costs (estimated at ₹8–9 lakh over 10 years), creating a compelling ownership proposition.
Additionally, as a part of an exclusive loyalty program for existing TATA.ev owners, the company is providing a direct benefit of ₹50,000 on the purchase of the Curvv.ev and the Nexon.ev 45 kWh.
Through this initiative, Tata Motors continues to lead with purpose — making electric mobility more accessible, reliable, and future-focused for Indian consumers.
Mercedes-AMG PETRONAS F1 Team’s 2024 Sustainability Report The Mercedes-AMG PETRONAS F1 Team has today released our 2024 Sustainability Report, detailing the team’s commitment to the pursuit of sustainable high performance.
The comprehensive report outlines our progress during the period of January to December 2024 and supports our ambition to become one of the most sustainable global professional sports teams.
Guided by our performance mindset and underpinned by robust governance, we demand the best from ourselves daily. The results published in our latest report reflect the dedication and innovation across our team and our efforts to create social impact, drive inclusion and catalyse change across our supply chain and beyond our sport. Sustainability Report is structured in four pillars through which we aim to create a lasting impact.
On the Road
Reducing the footprint of our global operations and logistics as we travel around the world
35% reduction in market-based Race Team Control emissions with SAFc
Aviation emissions associated with travel and freight reduced by 68% through SAFc – saving 9,860 tCO₂e
Our ambition is to cover 100% of our aviation footprint with SAFc
98% coverage of HVO100 biofuel for 2024 European season race and marketing trucks, saving 449 tCO₂e, equivalent to an 80% reduction in emissions for every km
At Home
Minimising our environmental impact and fostering a thriving, inclusive culture across our home.
Female representation across our team increased to 18.1%
6.4% increase in team members from minority ethnic groups compared to 2019 baseline
100% renewable electricity sourced through Renewable Energy Guarantees of Origin (REGOs) used at our Brackley factory
26% reduction in company car fuel consumption through transition from fuel to electric fleet
£56,000 of funding provided to our local community events and organisations
95 charitable causes supported through fundraising and donations
Surplus team kit channelled into the best available next use with 1,022kg separated for recycling, 470kg donated and 222kg used for energy recovery
In the Car
Pushing for progress on and off the track by making our cars and technology more sustainable and advancing social impact through trackside initiatives.
Trafigura in strategic alliance with maritime technology provider ZeroNorth Trafigura is set to roll out ZeroNorth’s platform across its controlled fleet of more than 350 vessels, including its voyage optimisation systems, emissions analytics and vessel reporting tools. Additionally, Trafigura will take an equity stake in ZeroNorth, further deepening the ties between the two companies.
ZeroNorth’s technology uses advanced artificial intelligence and real-time data, including live weather conditions, vessel specifications, ship performance data and fuel availability to optimise operational performance continuously. The implementation of ZeroNorth’s solutions is expected to deliver reductions in both fuel consumption and carbon emissions across Trafigura’s chartered fleet.
As part of the agreement, Trafigura will also join ZeroNorth’s group of strategic partners, contribute practical industry insights to product development and play an active role in shaping the company’s long-term direction.
ECO Liberty Launched to Support Equinor’s Empire Wind Project Equinor, the developer of Empire Wind, officially launched the Service Operations Vessel ECO Liberty on June 28 for deployment in its New York offshore wind project, marking the culmination of a major investment in the U.S. shipbuilding industry. Louisiana First Lady Sharon Landry served as the vessel’s “Godmother” during a christening ceremony on the Mississippi River at the Port of New Orleans. The American-made ECO Liberty was built by Edison Chouest Offshore by more than 500 Louisianans and showcases the critical role of Gulf Coast manufacturing companies in strengthening the supply chain for offshore energy. The vessel was built with American steel and includes components from companies in several Gulf Coast states.
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole , victor@oilandgaspress
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