Energy/Automotive news,commentary and analysis | December, 02 2025
London, December 02, 2025, (Oilandgaspress) –––Oil prices expected to edge upwards after the OPEC+ alliance opted to keep production levels unchanged for the first quarter of 2026. The decision comes despite expectations of a market surplus and ongoing geopolitical uncertainty surrounding Russia and Venezuela. Traders say the group’s steady-output stance helped firm prices as markets assess the potential impact on supply and global demand trends.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $59.09 | Down |
| Crude Oil (Brent) | USD/bbl | $62.86 | Down |
| Bonny Light 02/12/25 CBN | USD/bbl | $65.65 | Up |
| Dubai | USD/bbl | $64.47 | — |
| Natural Gas | USD/MMBtu | $4.93 | Up |
| Murban | USD/bbl | $64.76 | Down |
| OPEC basket 01/12/25 OPEC | USD/bbl | $63.79 | Down |
| At press time December 02, 2025 |
In light of the continued commitment of the OPEC and non-OPEC Participating Countries in the Declaration of Cooperation (DoC) to achieve and sustain a stable oil market, the Participating Countries decided to:
Reaffirm the Framework of the Declaration of Cooperation, signed on 10 December 2016 and further endorsed in subsequent meetings.
- Reaffirm the level of overall crude oil production for OPEC and non-OPEC Participating Countries in the DoC as agreed in the 38th OPEC and non-OPEC Ministerial Meeting until 31 December 2026.
- Reaffirm the mandate of the Joint Ministerial Monitoring Committee (JMMC) to closely review global oil market conditions, oil production levels, and the level of conformity with the DoC, assisted by the OPEC Secretariat. The JMMC meeting is to be held every two months.
- Reaffirm the JMMC’s authority to hold additional meetings, or to request an OPEC and non-OPEC Ministerial Meeting at any time to address market developments, whenever deemed necessary.
- Reiterate the critical importance of adhering to full conformity and the compensation mechanism.
- In reference to the decision of the 39th ONOMM; mandating the OPEC Secretariat to develop a mechanism to assess participating countries’ maximum sustainable production capacity (MSC) to be used as reference for the 2027 production baselines for all DoC countries, the Participating Countries approved the mechanism developed by the Secretariat.
- Reaffirm the framework of the Charter of Cooperation (CoC), signed on 2 July 2019, and request the OPEC Secretariat to develop a plan and convert it into programs to achieve the full objectives of the CoC, as it was originally mandated, and present it to the 41st OPEC and non-OPEC Ministerial Meeting.
- Hold the 41st OPEC and non-OPEC Ministerial Meeting on 7 June 2026. Read More
The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 30 November 2025, to review global market conditions and outlook.
The eight participating countries reaffirmed their decision on 2 November 2025 to pause production increments in January, February, and March 2026 due to seasonality as detailed in the table below.
The eight participating countries reiterated that the 1.65 million barrels per day may be returned in part or in full subject to evolving market conditions and in a gradual manner. The countries will continue to closely monitor and assess market conditions, and in their continuous efforts to support market stability, they reaffirmed the importance of adopting a cautious approach and retaining full flexibility to continue pausing or reverse the additional voluntary production adjustments, including the previously implemented voluntary adjustments of the 2.2 million barrels per day announced in November 2023.
The eight countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that will be monitored by the Joint Ministerial Monitoring Committee (JMMC). They also confirmed their intention to fully compensate for any overproduced volume since January 2024.
The eight OPEC+ countries will hold monthly meetings to review market conditions, conformity, and compensation. The eight countries will meet on 4 January 2026. . Read More
Nissan will host its 26th Nissan Cup Oppama Championship, a national wheelchair race, on December 7 at the GRANDRIVE test course in Yokosuka, Japan. More than 80 athletes – ranging from Paralympians to first-time competitors – will race in 3 km, 5 km, and half-marathon events. The championship is one of Japan’s few fully inclusive races, allowing participants of all ages and abilities, with or without disabilities, to compete together. The event supports the growth of disability sports, regional revitalization, and the development of future Paralympic athletes. Read More
Nissan Motor Co., Ltd. announced that its China joint venture, Zhengzhou Nissan Automobile Co., Ltd., will launch the all-new Frontier Pro and Frontier Pro PHEV—Nissan’s first plug-in hybrid pickup. The two models mark the company’s first pickup trucks fully designed, engineered, and built in China for international markets. Exports are scheduled to begin in the first half of next year.
Nissan China chief Steven Ma said the Frontier Pro series reflects “a significant milestone” in Nissan’s global strategy, highlighting the role of Chinese innovation in future product development. Pricing for the Frontier Pro ranges from RMB 169,900 to 199,900, while the Frontier Pro PHEV will sell for RMB 189,900 to 249,900. Read More
Renault’s Ampere ElectriCity plant in Douai has produced its 100,000th Renault 5 E-Tech electric, just over a year after the model’s launch in October 2024. The milestone vehicle was a Techno version equipped with a 52 kWh battery.
Winner of the 2025 Car of the Year award, the Renault 5 E-Tech electric is central to the brand’s strategy to scale up EV production in northern France. Most of Renault’s electric models are now built within the Ampere ElectriCity cluster, where the majority of suppliers are located within 300 km and customers within 1,000 km. The cluster also includes the Maubeuge and Ruitz plants, producing the Renault 4 E-Tech and key EV components, respectively. Read More
Eni has announced the start-up of Phase 2 of the Congo LNG project ahead of schedule, following the arrival of the Nguya FLNG floating liquefaction unit and the introduction of gas into the new offshore infrastructure system. The milestone positions the project to export its first LNG cargo in early 2026.
Phase 2 of the Congo LNG project includes three production platforms, the Scarabeo 5 unit dedicated to gas treatment and compression, and the Nguya FLNG for liquefaction and export, with a total capacity of up to 3 million tonnes per annum (MTPA)—equivalent to 4.5 billion cubic meters per year.
This integrated configuration allows full development of gas resources from the offshore Nené and Litchendjili fields within the Marine XII license, enabling flexible, phased management of volumes to ensure a steady supply to both the Tango FLNG unit (operational since late 2023) and the Nguya FLNG.
The start-up was completed just 35 months after construction of the Nguya FLNG began, setting a new benchmark for speed and efficiency in the industry. The achievement reflects a combination of technological innovation, rigorous industrial planning, and strong engagement with local stakeholders, with a significant portion of the work carried out entirely in Congo, enhancing local workforce skills and strengthening the national industrial sector.
The Nguya FLNG, measuring 376 meters long and 60 meters wide, incorporates advanced technologies to reduce its carbon footprint and is designed to process gas with varying compositions, supporting the development of additional offshore fields. The Scarabeo 5, converted from a drilling rig into a gas treatment, separation, and compression unit, integrates decarbonization-oriented solutions, demonstrating principles of circular economy and industrial reuse.. Read More
Toyota Motor Corporation will livestream the All-New Sports Models World Premiere from 11:00 a.m. on December 5. The world premiere will be live-streamed (with English interpretation) on this webpage. The video from the presentation will be archived, and the full text of the presentation and official photos will be posted on this webpage after the live stream.
In addition to this site, the live stream can be watched on the official YouTube channel Read More
Britain’s clean-energy transition is at a critical juncture. A recent visit to the International District Heating Summit in Denmark highlighted a stark contrast: while Denmark has developed one of the world’s most efficient, resilient, and affordable energy systems, the UK risks constraining its own progress through premature and overly prescriptive regulation. Without careful alignment, one of the most effective tools for cutting carbon emissions and enhancing energy security—district heating—could face a decisive setback.
Denmark treats energy as an interconnected ecosystem, rather than a collection of isolated components. Electricity, heat, waste, and transport networks operate in a coordinated system. Surplus renewable electricity, particularly from wind, is stored in district-heating infrastructure and released when needed. This integrated, circular model has delivered falling heat prices, stable supply, and declining national emissions. It is locally owned, grounded in practical engineering, and built over decades of voluntary, industry-led guidance rather than centralized bureaucracy.
In contrast, the UK is moving forward with the Heat Network Technical Assurance Scheme (HNTAS) and expanded Ofgem oversight, imposing highly prescriptive technical standards on an industry still in its infancy. While well-intentioned, these measures risk slowing deployment, increasing costs, and discouraging investment—at exactly the moment when growth is most urgent. Established operators delivering affordable, low-carbon heat stand to gain little from this administrative burden, undermining momentum for national scaling.
The UK can learn from Denmark: aligning policy, infrastructure, and expertise behind a shared purpose, rather than relying on intrusive regulation, is key to unlocking the full potential of district heating as a cornerstone of the net-zero transition. . Read More
Saab has received its first order from the Spanish Army for Individual Duel Simulation (IDS) systems under a framework agreement potentially worth EUR 34 million. The contract includes Saab’s GAMER live training equipment, Personal Detection Devices (PDDs), weapon kits, and Manpack systems, with options to expand capabilities in the future.
The systems will be deployed across multiple Spanish Army units in collaboration with local partner Tecnobit, enabling realistic live training that enhances situational awareness, decision-making, and operational readiness.
“This order highlights the growing demand for realistic, interoperable training systems for modern armed forces,” said Joakim Alhbin, Head of Saab’s Training & Simulation business unit. Read More
Zipcar, the US-headquartered car-sharing company, has announced proposals to shut its UK operations by 31 December 2025. The company will temporarily suspend new bookings after this date and has launched a formal consultation with its 71 UK employees regarding the closure.
Customers will still be able to use Zipcar vehicles over Christmas and up to the end of December. James Taylor, General Manager of Zipcar UK, said: “We are proposing to cease the UK operations of Zipcar and have today started formal consultation with our UK employees.” Read More
Porsche Cars Immobilised Across Russia Amid Suspected Satellite Disruption
Porsche owners across Russia have reported their vehicles suddenly locking up, losing power and refusing to start, sparking fears of deliberate satellite interference. The issue appears to affect Porsche models built since 2013, all equipped with the brand’s VTS satellite-security system. Owners and dealerships say hundreds of cars have been immobilised nationwide as the wave of failures continues. Read More
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Victor Cole , victor@oilandgaspress
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