Energy / Automotive News August 26, 2025. Gas @ $2.70/MMBtu, WTI Crude $63.72/bbl
London, August 26, 2025, (Oilandgaspress) –––Eni announces that the sail away ceremony for the Nguya floating liquefied natural gas (FLNG) unit was held today in Shanghai. The unit is set to significantly boost LNG production as part of the Congo LNG project in the Marine XII concession, offshore the Republic of Congo. The ceremony was attended by Bruno Jean Richard Itoua, Minister of Hydrocarbons of the Republic of Congo, and Eni delegation led by Stefano Maione, Director of Development, Operations & Energy Efficiency. The Nguya unit, 376 meters long and 60 meters wide, will be moored at a depth of 35 meters and used for liquefied natural gas production. Designed with advanced technologies to ensure a reduced carbon footprint, it stands as a benchmark in the industry. Conceived, designed, and built in only 33 months – from contract award to sail away – the FLNG sets a record for time-to-market in the entire sector. Moreover, its cutting-edge technical features allow it to process gas from multiple fields, making it suitable for the development of future fields as well.
Furthermore, the floating production and compression unit – formerly the Scarabeo 5 drilling rig – has been refurbished and will depart in the coming days. It will be used to send processed gas to the Nguya unit. Through an innovative transformation, Eni was able to meet execution timelines, reduce costs, and minimize environmental impact. This is a concrete example of circular economy and industrial reuse, fully aligned with Eni’s decarbonization strategy. Work on the subsea infrastructure required to launch Phase 2 of the Congo LNG project is progressing on schedule, enabling mooring and startup by the end of 2025. Read More
Hyundai Motor Group announced a significant increase in investment to USD 26 billion in the United States, reinforcing its long-term commitment to innovation, jobs creation, and sustainable growth across key industries.
This investment will be made between 2025 and 2028, significantly expanding the Group’s footprint in the U.S. market.
This new commitment represents an additional USD 5 billion investment on the USD 21 billion allocation announced in March 2025, dedicated to advancing the Group’s strategic initiatives in automotive, steel, and robotics.
Key highlights of the investment include:
Strategic Steel Manufacturing: A new steel mill in Louisiana will support strategic U.S. industries such as automotive manufacturing, strengthening local supply chains and industrial resilience.
Expanding U.S. Auto Production Capacity: Hyundai Motor Company and Kia Corporation, the Group’s automotive affiliates, will substantially expand their U.S. auto production capacity, strengthening the Group’s ability to meet the evolving needs of American consumers with greater speed and efficiency.
Robotics Innovation Hub: The Group will establish a state-of-the-art robotics facility with an annual capacity of 30,000 units, serving as a U.S. hub for design, manufacturing, testing, and deployment. This initiative will position Hyundai Motor Group at the forefront of the global robotics ecosystem.
Through these initiatives, Hyundai Motor Group expects to create around 25,000 new direct jobs in the United States over the next four years, contributing meaningfully to the nation’s economic vitality.
The Group is also accelerating technology commercialization through its U.S.-based tech affiliates — Boston Dynamics for robotics and Motional for autonomous driving — while expanding collaboration with leading American companies in future technologies, including AI, robotics, autonomous driving. Read More
Hyundai Motor Company has released the first images of its new concept car, set to make its global debut at IAA Mobility 2025 in Munich, Germany, running from September 9–14. Ahead of the event, Hyundai Motor will release two further sets of images, each highlighting distinctive design elements that will be showcased on the concept car at the show. Visitors to IAA Mobility 2025 will be able to experience Hyundai Motor’s forward-thinking vision firsthand at the brand’s outdoor booth on Ludwigstraße 14 in Munich. Read More
Hyundai Motor Group and the Royal College of Art (RCA) are marking a decade of collaboration (2016–2025) by announcing an extension of their joint commitment to innovation, creativity and sustainability within the global design and mobility ecosystem.
The signing ceremony for the renewed partnership took place today at RCA’s Battersea campus. The two-year agreement, extending through 2027, highlights the Group’s enduring role as a patron of design and culture, underscoring its dedication to fostering creativity, supporting future design leaders, and pursuing sustainable innovation in mobility.
The RCA remains one of the Group’s most significant global design collaborators, with the longest and most deeply integrated partnership among its design school affiliations worldwide. RCA’s Intelligent Mobility Design Centre (IMDC) has been central to this collaboration, bringing together interdisciplinary research and education at the intersection of mobility, design and technology. Read More
Hyundai Motor Company is participating in the 13th World Congress of the Econometric Society (ESWC 2025), held at COEX in Seoul, to present its comprehensive hydrogen vision and exhibit the all-new NEXO fuel cell electric vehicle (FCEV).
At this global gathering of economic leaders, Hyundai Motor emphasizes hydrogen’s pivotal role in the sustainable energy transition. Through Hyundai Motor Group’s dedicated hydrogen brand and business platform, HTWO, the company is showcasing advanced hydrogen production technologies and pilot projects, reinforcing its commitment to building a robust hydrogen ecosystem.
A centerpiece of the exhibition is the all-new NEXO FCEV, marking its first full redesign in seven years. Featuring the Art of Steel design philosophy and signature ‘HTWO’ Lamps, the vehicle offers a targeted driving range of over 700 kilometers and a total system output of 190 kW. Enhanced safety systems and sustainable interior materials further underscore Hyundai Motor’s leadership in hydrogen mobility.
The exhibition also features visual content that illustrates the Group’s vision for a sustainable hydrogen society, as well as broader hydrogen industry applications. Attendees explored advanced technologies such as the biogas-based hydrogen extraction system at the waste-to-hydrogen plant in Chungju and the electrolysis-based hydrogen production facility in Buan. Hyundai Motor is also presenting its hydrogen-powered commercial vehicles—including the XCIENT Fuel Cell Truck and the Elec City and Universe Fuel Cell buses—demonstrating the company’s advancements in establishing a comprehensive hydrogen mobility ecosystem. Read More
Baker Hughes Rig Count: : International +27 to 913, :U.S. -1 to 538 Canada -3 to 180
U.S. Rig Count is down 1 from last week to 538 with oil rigs down 1 to 411, gas rigs unchanged at 122 and miscellaneous rigs unchanged at 5.
Canada Rig Count is down 3 from last week to 180, with oil rigs down 3 to 123, gas rigs down 1 to 56 and miscellaneous rigs up 1 to 1.
International Rig Count is up 1 from last month to 914 with land rigs down 10 to 720, offshore rigs up 11 to 194.
The Worldwide Rig Count for July was 1,621, up 22 from the 1,600 counted in June 2025, and down 92, from the 1,713 counted in July 2024.
| Region | Period | Rig Count | Change |
| U.S.A | August 22, 2025 | 538 | – 1 |
| Canada | August 22, 2025 | 180 | -3 |
| International | July 2025 | 914 | +1 |
| Baker Hughes |
Baker Hughes announced a long-term service agreement award from bp for its Tangguh Liquefied Natural Gas (LNG) plant in Papua Barat, Indonesia. This comprehensive 90-month agreement covers spare parts, repair services, and field service engineering support for critical turbomachinery at the facility including heavy-duty gas turbines, steam turbines, and compressors for three LNG trains, helping to ensure its continued reliable operation. The agreement underscores Baker Hughes’ role as a solutions provider.
The agreement builds on Baker Hughes’ long-standing relationship with bp at the Tangguh LNG project since 2009, and most recently an award in 2024 to supply additional critical power and compression systems for bp’s Tangguh UCC Project.
The Tangguh LNG facility is a cornerstone of Indonesia’s energy strategy, playing a vital role in supplying safe and reliable energy to the Asia-Pacific region. Baker Hughes’ continued support will contribute to the sustained performance and availability of the plant’s critical turbomachinery, which is essential for LNG operation.
“This long-term service agreement with bp for Tangguh LNG is a testament to our continued partnership and commitment to progressing energy development in Indonesia,” said Tiffany Pitts, vice president of Gas Technology Services at Baker Hughes. “Our advanced technology and expertise will help ensure the optimal performance of the Tangguh facility, which is crucial for meeting the region’s energy demands.”
Baker Hughes is collaborating with PT Imeco Inter Sarana as its local consortium partner to deliver on the local content requirements of the agreement.
This agreement demonstrates Baker Hughes’ strategic focus on supporting its footprint in LNG with critical equipment asset management services and follows the recent announcement to expand its existing service capability in Asia Pacific to address the region’s energy expansion and transition needs. Read More
In 2024, Indonesia had proven crude oil reserves of 2.3 billion barrels, a 2.8% (67 million barrels) decline from the previous year. Indonesia’s total petroleum and other liquids production decreased approximately 13,000 barrels per day (b/d) to 868,000 b/d in 2024 from the preceding year. Declining crude oil and condensate production, which fell by 4% (26,000 b/d) to 582,000 b/d in 2024, accounts for most of the decrease.5 The decline in crude oil and condensate production is attributed to several factors, including maturing fields, a lack of new exploration, and risks stemming from uncertain oil and natural gas policy.
Indonesia’s Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) set a crude oil production target for 2025 at 605,000 b/d. To achieve this target, Indonesia seeks to increase international collaboration, optimize its mature fields, create incentives for companies to fulfill exploration contracts, and use joint projects with international entities for transferring knowledge to their workforce
Indonesia’s consumption of petroleum and other liquids reached 1.7 million b/d, a 2.5% increase from the previous year and its highest level since 2018.
Indonesia was the world’s fourth-most populous country in 2024, with a population of 283 million. Its gross domestic product (GDP) grew 5% from the previous year, according to government statistics. The primary contributors to Indonesia’s growth were manufacturing, trade, and agriculture.1
Indonesia’s total primary energy production increased 8.8% to 19.3 quadrillion British thermal units (quads) in 2023 from the previous year . Increases in coal (10.5%) accounted for most of the growth. Renewables (16.0%) and natural gas (2.2%) also contributed to the increase.
In 2023, Indonesia accounted for 5.8% of total global biodiesel production, making it the world’s third-highest producer of biodiesel after the United States (8.3%) and Brazil (6.1%). Read More
The U.S. Energy Information Administration (EIA) expects a significant decline in the price of oil as growth in the global supply of oil vastly surpasses growth in demand for petroleum products. In its August Short-Term Energy Outlook (STEO), EIA expects the Brent crude oil spot price to average less than $60 per barrel in the fourth quarter of 2025—the first quarter with average prices that low since 2020.
OPEC+ announced last week that it will unwind its oil production cuts by September 2025, which is a year ahead of its previous schedule. For the first time since EIA began publishing an OPEC+ production forecast in 2023, EIA expects most global oil production growth to come from OPEC+ countries. EIA forecasts the supply growth will outpace demand, leading to quickly growing inventories. EIA expects U.S. crude oil production to average an all-time high, near 13.6 million barrels per day, in December 2025, driven by continued increases in domestic well productivity. By 2026, declining oil prices lead EIA to expect U.S. producers will pull back on drilling and well completion activity—a trend that has continued through most of 2025. EIA forecasts U.S. crude oil production will average 13.3 million barrels per day in 2026. Read More
The dollar weakened and traditional safe-haven assets advanced after President Donald Trump moved to oust Federal Reserve Governor Lisa Cook, stoking concerns over the central bank’s independence.
A gauge of the dollar retreated 0.3% before paring losses as Trump posted on his Truth Social account that Cook will be removed effective immediately. Gold rose as much as 0.5%, while the yen led gains against the dollar among Group-of-10 currencies. Asian stocks fell 0.6%. Futures for the S&P 500 dipped 0.2%. Trump’s announcement came after the US Department of Justice indicated it planned to investigate Cook, following a criminal referral from Federal Housing Finance Agency Director Bill Pulte alleging that she may have committed mortgage fraud. Read More .
President Donald Trump is threatening higher tariffs on China again. On Monday, he told reporters that the country must provide the US with the magnets that American car manufacturers need to keep their plants running. An average US car carries about half a pound of magnets, while EVs need about a pound. If China doesn’t increase the rare earth trade, ‘We have to charge them a 200 percent tariff or something,’ Trump said. The decision puts American consumers in a tough place: a high tariff on all Chinese goods could cost US families hundreds more, while throttled magnet trades could make cars and insurance even more expensive. Read More
Neste Corporation has on 25 August 2025 received a notification under Chapter 9, Section 10 of the Finnish Securities Market Act (FSMA). According to the notification by Société Générale SA (SG SA), the aggregate holdings of the entities referred to therein including financial instruments according to SMA 9:6a owned by Société Générale SA and the entities referred to above, have on 22 August 2025 exceeded 5% of the total number of shares and voting rights of Neste Corporation, and amount to 5.70% of the total number of shares of Neste Corporation. The share stock of Neste Corporation consists of 769,211,058 shares, each entitling one vote. Read More
Nissan bids fond farewell to R35 GT-R as final vehicle rolls off the line After 18 years, Nissan today commemorates the end of production for the R35 GT-R, as assembly for the Japan domestic market – the final sales region for the model – concludes. • Approximately 48,000 units produced over 18-year production run
• Final vehicle to line-off is Premium edition T-Spec finished in Midnight purple paint
• Nissan committed to reimagining future generation of GT-R
Workers at Nissan’s Tochigi plant, located about 100 km north of Tokyo, gathered to celebrate the extensive legacy of the R35 as the very last unit rolled off the line. In total, approximately 48,000 units were produced and sold over the lifecycle of the model. The final vehicle, a Premium edition T-Spec, finished in Midnight Purple paint, is destined for a customer in Japan. Read More
Ukraine has significantly intensified its attacks against Russia’s energy sector over the past few weeks. On Sunday, Kyiv targeted a gas terminal in the Leningrad region and an oil refinery in Samara. Zelenskyy indicated that the future of the pipeline could depend on Hungary’s behaviour. Budapest said Kyiv harms its sovereignty, and Slovakia warned Ukraine might be left without fuel, if the attacks continue.
Ukrainian attacks on the Druzhba oil pipeline have blocked oil imports into Hungary and Slovakia for days and provoked an ongoing war of words between Kyiv, Budapest, and Bratislava.
Ukraine attacked oil facilities on Russian territory with drones and rockets. The pipeline delivers Russian oil through Ukraine and Belarus to Central Europe, where Hungary and Slovakia still import large amounts. On Sunday, Ukraine’s president suggested that the attacks on the pipeline might be connected to Hungary’s veto on Ukraine’s EU accession. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $63.72 | Down |
| Crude Oil (Brent) | USD/bbl | $67.75 | Down |
| Bonny Light 19/08/25 CBN | USD/bbl | $69.32 | — |
| Dubai | USD/bbl | $69.46 | Up |
| Natural Gas | USD/MMBtu | $2.70 | Up |
| Murban | USD/bbl | $71.45 | Up |
| OPEC basket 25/08/25 | USD/bbl | $70.45 | Up |
African countries imported a record 15,032 MW of solar panels from China in the 12 months to June 2025, a 60% jump from the prior year. In May alone, imports hit 1.57 GW—roughly three-quarters of the Hoover Dam’s capacity. Twenty countries set new highs, with Nigeria overtaking Egypt for second place at 1,721 MW and Algeria close behind at 1,199 MW.
The surge signals a continent racing to electrify—but it also masks deeper industrial challenges. Behind headlines of rapid adoption lies a supply chain where dependency and opportunity pull in opposite directions.
For now, Africa remains almost entirely reliant on foreign suppliers. China accounts for 85–90% of installations, and dominance extends well beyond panels to batteries, inverters and storage systems. Read More
Nigerian President Bola Tinubu has welcomed Petrobras’s imminent return to Nigeria, five years after Brazil’s state-owned oil company halted its joint venture operations. During a state visit, Nigeria and Brazil signed five Memoranda of Understanding (MoUs) to strengthen trade, diplomacy, science, aviation, and finance cooperation.
President Tinubu praised President Lula’s commitment to revitalising the partnership between the two countries, noting that Nigeria’s economic space remains a virgin land, full of opportunities for Brazilian companies.
Speaking at a joint press conference in Brasília, Tinubu described Petrobras’ comeback as a milestone that would “reignite robust economic cooperation” in the oil and gas sector between both nations. Read More
Seadrill Limited announced Sonadrill Holding Ltd , its 50:50 joint venture with an affiliate of Sonangol E.P., has been awarded two contracts, positioning the joint venture for long-term success.
The West Gemini secured a contract with Sonangol Exploração & Produção, S.A. for work in Angola with an estimated duration of 284 days, expected to begin in late 2025 or early 2026.
The Sonangol Libongos received an award from Azule Energy Angola B.V. with an estimated firm term of 525 days, plus priced options beyond this initial term. The program is expected to commence offshore Angola in the third quarter of 2025 in direct continuation of the current contract.
There are currently three drillships bareboat chartered into Sonadrill, a Seadrill-owned unit, the West Gemini, and two Sonangol-owned units, the Sonangol Libongos and Sonangol Quenguela. Seadrill earns a management fee for providing management, operational and technical support to Sonadrill. Read More
Ukraine’s targeted campaign is focused on refineries, oil depots and military-industrial sites. This way Kyiv disrupted Moscow’s ability to process and export oil. Ukraine’s campaign also created shortages in some Russian regions and in Moscow-annexed Crimea according to news reports.
On Sunday, Kyiv targeted a gas terminal in the Leningrad region and an oil refinery in Samara.
Kyiv’s recent strikes on Russian oil refineries have reportedly disrupted at least 17% of all of Russia’s refining capacity, an equivalent of 1.1 million barrels per day. Read More
On 14 April 2025, Wood announced that it had received a holistic non-binding conditional proposal from Dar Al-Handasah Consultants Shair and Partners Holdings Ltd (“Sidara”), including a possible offer of 35 pence1 in cash per Wood share to acquire the entire issued and to be issued share capital of the Company (the “Possible Offer”), and that, should Sidara make a firm offer for Wood under Rule 2.7 of the Code on the terms of the Possible Offer, the Board of Wood would be minded to recommend such an offer to Wood’s shareholders, subject to agreement of full terms and conditions.
The Board of Wood is continuing to work with Sidara in relation to the pre-conditions to the Possible Offer set out in that announcement and further substantive progress has been made since the announcement of 28 July 2025:
There is now commercial alignment with Sidara and Wood’s lenders on the detailed terms of the Proposed Refinancing (which are consistent with the terms set out in the 28 July 2025 announcement), and substantial progress has been made on documenting those terms.
Wood is continuing to work with its auditor in relation to the publication of Wood’s audited accounts for the financial year ended 31 December 2024.
Sidara has confirmed that it has completed its due diligence on Wood.
On Saturday 23 August 2025, Sidara informed the Board of Wood in writing that it is committed to making an offer to acquire the entire issued and to be issued share capital of Wood, once the remaining pre-conditions have been satisfied, but that, having completed its due diligence, any offer would be at a reduced price of 30 pence in cash per Wood share (the “Reduced Possible Offer”).
The Board has evaluated the Reduced Possible Offer with its financial advisers and concluded that it is at a value that the Board would be minded to recommend to Wood shareholders, should a firm intention to make an offer pursuant to Rule 2.7 of the Code be announced on such financial terms, subject to the agreement of all other terms and conditions of an offer.
The Board of Wood has therefore requested, and the Panel has consented to, an extension to the date by which Sidara is required either to announce a firm intention to make an offer for Wood in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement would be treated as a statement to which Rule 2.8 of the Code applies. Such announcement must now be made by not later than 5.00pm on 28 August 2025. This deadline can be further extended with the agreement of the Board of Wood and the consent of the Panel in accordance with Rule 2.6(c) of the Code. Read More
The Volkswagen Group brand Elli (Charging and Energy) is taking its Energy business unit to the next level by now offering energy trading as a service to external customers. Elli delivers the services and is structuring the electricity procurement from renewable sources for their production needs, taking advantage of Elli`s access to the EPEX SPOT market. Elli has been structuring the electricity procurement for a major industrial customer from renewable sources for their production needs since January, taking advantage of Elli’s access to the EPEX SPOT market. The aim is to compensate for fluctuations in the production of wind and solar power through targeted purchases and sales. Elli had already acquired its trading license on Europe’s largest electricity trading exchange in 2023 and has since undergone an intensive test phase. Elli’s complementary spot market trading provides the necessary flexibility in an increasingly volatile energy market. Many manufacturing companies are faced with the challenge of securing renewable electricity at competitive prices. This not only supports the companies’ sustainability goals, but also creates opportunities for future load optimization and cost savings. Current and future services for energy management and the management of market price risks require high-performance partners with very good creditworthiness. This is where Elli can play to its strengths as a dynamic company within the Volkswagen Group. Read More
At this year’s IAA MOBILITY, the Volkswagen brand is underlining its claim to offer mobility for everyone: VW is presenting four new models at the freely accessible event area in Munich city center. The open stand concept represents the brand’s approachability, invites visitors to explore and inspires the exchange of ideas. The Open Space will be open from Tuesday, September 9, through Sunday, September 14. Admission is free.
The Volkswagen stand at the Open Space will focus on the vehicles: A fully electric compact SUV will have its world premiere at Odeonsplatz. The concept vehicle will offer a glimpse of a new member of the electric ID. family from Volkswagen. Its production version will complete the Electric Urban Car Family of the Brand Group Core, i.e. the merger of the Volkswagen Group’s volume brands. “The IAA show car completes Volkswagen’s entry-level mobility for Europe – fully electric and highly efficient. The show car sets standards within its class in terms of design, quality, operation and space. It is a concrete preview of an affordable electric vehicle in the T-Cross class. The car will be on the market as early as next year,” says Kai Grünitz, Board Member for Technical Development at the Volkswagen brand. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole , victor@oilandgaspress
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