Energy / Automotive News August 08, 2025. Gas @ $3.04/MMBtu, WTI Crude $64.28/bbl
London, August 08, 2025, (Oilandgaspress) –––Oil prices were stable on Friday but poised for the steepest weekly losses since late June on a tariff-hit economic outlook and a potential meeting between U.S. President Donald Trump and Russian counterpart Vladimir Putin. The latest tariffs arrive against a backdrop of an already weaker than expected U.S. labour market and Thursday’s announcement by the Kremlin that Putin and Trump would meet in the coming days as trade tensions rise between the U.S. and Russia’s oil customers. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $64.28 | Down |
| Crude Oil (Brent) | USD/bbl | $66.93 | — |
| Bonny Light 07/08/25 CBN | USD/bbl | $70.74 | Down |
| Dubai | USD/bbl | $69.13 | Down |
| Natural Gas | USD/MMBtu | $3.04 | — |
| Murban | USD/bbl | $69.30 | Down |
| OPEC basket 07/08/25 | USD/bbl | $69.49 | Down |
.Donald Trump’s global tariffs, ranging from 10 to 50 per cent, came into effect on Thursday, sparking concerns among consumers, companies, and investors about potential price increases. The tariffs are anticipated to make a wide array of goods more expensive, from everyday items like coffee and clothing to luxury products such as Range Rovers and Swiss watches. Economic experts warn that these sweeping tariffs could lead to supply chain disruptions, significant price hikes, and even inflation, with Americans ultimately bearing the increased costs.
Industries including alcohol, automotive, apparel, and steel are already forecasting substantial financial losses and job cuts in some cases, with some companies like Diageo and major car manufacturers projecting hundreds of millions or billions in losses.. Read More
According to reports, a recent analysis found that from June 2024 to June 2025, home energy bills went up more than twice as fast as overall prices for other consumer goods and services. PJM, the regional grid operator, has announced that its electricity procurement costs have risen by 22%, reaching $329.17 per megawatt-day. This adds up to a total of $16.1 billion for the period from June 2026 to May 2027, reflecting a 10% year-over-year increase. According to a recent report, this spike could lead to consumer energy bills rising by 1% to 5%, depending on how state governments and utility providers handle the added expenses.. A spokesperson for PJM said in a statement that economic growth is driving “a massive uptick” in electricity demand. “Existing supply has been leaving the system due primarily to state and federal decarbonization policies and some economics. … As to new supply, PJM has studied and approved 46,000 MW (enough to power about 40 million homes) that have been slow to construct due to reasons outside of PJM’s control, including global supply chain, state/federal permitting and financing challenges,” the spokesperson said. Read More
Gold futures hit a record high on Friday after a Financial Times report that the United States has imposed tariffs on imports of one-kilo gold bars, a move that is expected to ramp up pressure on Switzerland, the biggest precious metal hubs in the world.
The FT has seen a letter from the Customs Border Protection agency which said one-kilo and 100 ounce gold bars should be classified under a customs code subject to higher tariffs. One-kilo bars are the most popular form of the metal traded on Comex, the biggest gold futures market, and make up most of Switzerland’s bullion exports to the US.
US gold futures rose by. 1.3% at $3,499.30, after hitting an all-time high of $3,534.10. Meanwhile, the price spread between New York futures and spot prices widened by about $100.
It marks another blow for Switzerland, which Donald Trump has hit with a shock 39% export tariff. Swiss companies, whose exports to the US account for about one-sixth of their total foreign sales, face one of the steepest tariff rates in Trump’s trade war regime. Only Laos, Myanmar and Syria had higher figures, at 40-41%. The EU and the UK have negotiated 15% and 10% respectively. Read More
.One of Britain’s first all-electric towns to be built with almost no reliance on fossil fuels could soon help to power the grid with renewable energy. The developers of a new garden town in Kent have struck a deal with a leading energy infrastructure company to design and operate a “smart” energy grid, which could mean its 8,500 households act as a virtual power plant for the rest of the country. In total, the town will have about 34 megawatts of renewable energy capacity, and one communal grid-scale battery for every 300 homes, meaning its residents will be able to make “significant savings on their energy bills from day one”, according to SNRG, the infrastructure company behind the plans. Read More Otterpool Park development
Johan Castberg field was officially opened by the minister of energy, Terje Aasland.
Johan Castberg is Norway’s northernmost oil field. The field will produce for at least 30 years. This creates great value and ripple effects and is important for Norway’s role as a reliable, long-term energy supplier. The field produces 220,000 barrels of oil per day.
“This is a milestone for the petroleum industry in the Barents Sea. With Castberg on stream, the Barents Sea now has both our second largest producing oil field, our second largest gas field and the largest discovery being considered for development. In addition, the Castberg field is a good example of the positive ripple effects that production offshore has on the mainland. With Castberg, there are three producing fields in the Barents Sea. This provides secure jobs in the local business community and a basis for new assignments over a long period of time,“ Terje Aasland said in his speech to the FPSO crew right after the opening.
The official opening was attended by the crew of the Johan Castberg FPSO, leaders from the Ministry of Energy, including minister Terje Aasland, the mayors of Hammerfest and Harstad, leaders from the Norwegian Offshore Directorate, the Norwegian Ocean Industry Authority, Equinor, Vår Energi, Petoro, Aker Solutions and employee representatives. Read More Johan Castberg officially opened
Europa Oil & Gas (Holdings) plc, the AIM quoted UK, West Africa and Ireland focused oil and gas exploration, development and production company, announces that BGF Investment Management Limited, has today advised the Company that it yesterday disposed of the entirety of its ordinary shares of £0.01 each in the Company (“Ordinary Shares”), which previously stood at 5.925% of the Company’s Issued Share Capital. The Company understands that BGF’s fund mandate does not include Equatorial Guinea, and so they have sold out for that reason. Read More Notification of change in significant shareholding
Europa Oil & Gas announced that its associated company, Antler Global Limited (“Antler”), has entered into detailed commercial discussions and has signed a non-binding Heads of Terms with a major energy company to farm-out an interest in the EG08 production sharing contract (“PSC”) in offshore Equatorial Guinea. Europa has a 42.9% equity interest in Antler which in turn holds an 80% working interest in the EG-08 PSC, with the remaining 20% held by GEPetrol (Guinea Equatorial de Petróleos), the national oil company of Equatorial Guinea, representing the State’s interest. There is no guarantee that these commercial discussions will lead to a legally binding agreement(s) relating to the farm-out and any agreement(s) would be subject to approval from the Minister for Energy of Equatorial Guinea. Europa will provide further updates on the progress of the commercial discussions in due course. Read More Europa Oil & Gas signs Head of Terms .
Europa Oil and Gas has applied for an environmental permit to construct a temporary wellsite to assess gas potential at Burniston, North Yorkshire. The company is proposing to construct a temporary wellsite, Cloughton 2, to drill a test borehole. The proposed technique, well stimulation (or proppant squeeze), is a process used by the oil and gas industry designed to improve the efficiency of the flow of oil or gas through the reservoir rock and into the well. The Environment Agency is now seeking views from the local community and interested groups on the application. The consultation opened last month and will run until 19 September. Environment Agency area environment manager Kathryn Richardson, said: “Our regulatory controls for the onshore oil and gas industry are in place to protect people and the environment. Read More Permit to drill North Yorkshire test well
KBR announced it has been awarded a contract by INPEX Masela Ltd., to provide front-end engineering design (FEED) for onshore liquefied natural gas facilities for the Abadi LNG project in Indonesia.
The Abadi LNG project, which will have a peak production capacity targets of 9.5 million tons per annum of LNG and 150 million standard cubic feet per day of pipeline gas, has been designated a project of national strategic importance by the Indonesian government.
Under the terms of the contract, KBR will collaborate with Samsung E&A and PT Adhi Karya to provide comprehensive FEED services for the onshore LNG facilities Read More Abadi Onshore LNG Project in Indonesia
KBR announced the appointment of Huibert H. Vigeveno to its board of directors effective August 5, 2025.
Mr. Vigeveno, 55, brings a wealth of energy and industrial sector expertise to KBR’s board, a result of his 30 years of distinguished service with Shell. Mr. Vigeveno joined Shell in the U.K. in 1995 and gained significant sales, marketing, strategy and general management experience across the enterprise. Mr. Vigeveno also has substantial experience with mergers, acquisitions and similar strategic transactions. From January 2020 to March 2025, he served as a member of Shell plc’s executive committee and as director of Downstream, Renewables and Energy Solutions. From 2017 to 2019, Mr. Vigeveno was executive vice president of Global Commercial. Prior to that role, from 2015 to 2016, he led the integration and served as transition CEO of BG Group in the U.K. following its acquisition by Shell. Other roles include executive chairman of Shell China (2012 to 2015) and vice president of Shell Supply and Distribution in Europe and Africa (2009 to 2012). Mr. Vigeveno will officially step down at Shell in September 2025 to pursue other opportunities. He holds a Master of Business Administration degree from Erasmus University Rotterdam in the Netherlands. Read More KBR Appoints Huibert Vigeveno to Board of Directors
Hyundai Motor Company and General Motors announced plans for their first five co-developed vehicles, marking a significant milestone in their previously announced strategic collaboration. The two companies will co-develop four vehicles for the Central and South American market, including a compact SUV, car and pick-up, as well as a mid-size pick-up, all with the flexibility to use either internal combustion or hybrid propulsion systems. Hyundai and GM also will co-develop an electric commercial van for North America.
Hyundai and GM expect sales of the co-developed vehicles to be more than 800,000 vehicles a year once production is fully scaled. GM will lead the development of the mid-size truck platform, while Hyundai will lead on the compact vehicle and electric van.
The two companies will share common platforms and develop unique interiors and exteriors consistent with their respective brands.
Design and engineering work is underway on the new vehicles for the Central and South American markets, which will launch in 2028. The electric commercial van will be manufactured in the U.S. as early as 2028.
The two companies also plan joint sourcing initiatives in North and South America for materials, transport, and logistics. Further areas for potential joint operations include raw materials, components, and complex systems,
Hyundai Motor and GM also agreed to explore collaboration on low-carbon emissions steel as part of their commitment to sustainable manufacturing. Read More GM and Hyundai Announce Plans for Co-developed Vehicles
TML performance in the quarter was impacted by volume decline in all businesses and a drop in profitability primarily at JLR. Revenues at ₹104.4K Cr (down 2.5%), EBIT of ₹4.5K Cr (- ₹4.1K Cr), EBIT margin of 4.3% (-370 bps). JLR revenues were down by 9.2% to £6.6b with EBIT margins of 4.0% (-490 bps) affected by US trade tariff impact. CV revenues were down by 4.7% to ₹17.0K Cr, while EBITDA margins improved to 12.2% (+60 bps) benefiting from better realizations and cost savings despite lower volumes. PV revenues declined by 8.2% reflecting softness in industry demand, and transition to new models. As a result, EBITDA at 4.0% down by 180 bps. Despite these challenges the consolidated PBT (bei) was ₹5.6K Cr benefiting from the sharp reduction in finance costs..
Tata Motors Ltd. (TML) announced its results for quarter ending June 30, 2025.
| Consolidated (₹ Cr Ind AS) | Jaguar Land Rover (£m, IFRS) | Tata Commercial Vehicles (₹Cr, Ind AS) | Tata Passenger Vehicles (₹Cr, Ind AS) | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| FY25 | Vs. PY | FY25 | Vs. PY | FY25 | Vs. PY | FY25 | Vs. PY | ||||
| Q1 FY26 | Revenue | 104,407 | (2.5)% | 6,604 | (9.2)% | 17,009 | (4.7)% | 10,877 | (8.2)% | ||
| EBITDA (%) | 9.2 | (480) bps | 9.3 | (650) bps | 12.2 | 60 bps | 4.0 | (180) bps | |||
| EBIT (%) | 4.3 | (370) bps | 4.0 | (490) bps | 9.7 | 80 bps | (2.8) | (310) bps | |||
| PBT (bei) | 5,617 | ₹(3,232) Cr | 351 | £(342)m | 1,657 | ₹122 Cr | (129) | ₹(302) Cr | |||
JLR’s revenue for the quarter was £6.6 billion, down 9.2% vs Q1 FY25. Wholesale volumes & revenues in the quarter were impacted by the application of 27.5% US trade tariffs on UK- and EU-produced cars exported to the US, and the planned wind down of legacy Jaguar vehicles ahead of the launch of new Jaguar. US trade tariffs also had a direct and material impact on profitability and cash flow in the period. The US-UK trade deal will significantly reduce the financial impact of US tariffs going forward. PBT in the quarter was £351 million, down from £693 million a year ago with EBIT margin at 4.0%. The decrease in profitability YoY was impacted by the introduction of US tariffs and FX headwinds in the period. Read More Tata Motors Consolidated Q1 FY26 Results
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole , victor@oilandgaspress
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