05 Mar Energy / Automotive news, commentary and analysis | Iran conflict disruption of shipping and fuels supply continues
(Oilandgaspress) Oil and defence stocks up, while airlines and banks stocks down in trading leading to overall declines across markets. Gas prices have risen since the outbreak of the war in Ukraine and now after Qatar halted production of liquefied natural gas following attacks by Iran. UK gas prices rose to over 165p a therm on Tuesday.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $80.91 | Up |
| Crude Oil (Brent) | USD/bbl | $85.36 | Up |
| Bonny Light 05/03/26 CBN | USD/bbl | $83.54 | Up |
| Dubai | USD/bbl | $73.74 | Up |
| Natural Gas | USD/MMBtu | $2.99 | Up |
| Murban | USD/bbl | $94.54 | Up |
| OPEC basket 04/03/26 OPEC | USD/bbl | $82.87 | Up |
| At press time March 05, 2026 . |
Kongsberg Maritime, Seadrill Limited and Hanwha Drilling announced a strategic alliance to develop the next generation of remote Dynamic Positioning (DP) technology in offshore drilling. The collaboration will establish new standards for offshore drilling safety, efficiency, and centralised operations. Related News
Hydromea, a leader in high-speed wireless subsea optical communication, have announced a groundbreaking achievement in subsea technology, made together with Equinor: the world’s first demonstration of real-time, high-bandwidth wireless data transmission from the ocean floor directly to the cloud. This milestone marks a pivotal advancement in subsea asset monitoring and the digitalization of the offshore energy sector. In a pioneering collaboration, Hydromea’s SWiG-ready LUMA™ Free-Space Optical (FSO) devices successfully transmitted data from the seabed to Equinor’s cloud infrastructure using Equinor’s proprietary DEEPNET network. This is the first known instance where high volume of data collected at the bottom of the ocean can be streamed wirelessly in real time through a LUMA™ WLAN hotspot, enabling immediate access for asset integrity engineers and Underwater Intervention Drone (UID) pilots.
The result is a seamless, end-to-end data flow—subsea sensors and vehicles can now deliver critical insights to operators in real time. Related News
Neste, the world’s leading producer of renewable diesel and sustainable aviation fuel (SAF), has appointed new leadership team members as part of an organizational change that primarily affects the company’s Renewable Products business. As of 1 April 2026, Renewable Products commercial, refining, and feedstock sourcing and trading will be represented in Neste’s leadership team. At the same time, Neste will establish a Renewable Products, North America business unit, responsible for all renewable products business in North America, including regional feedstock and commercial operations as well as Martinez joint venture. From 1 April 2026 onwards, Neste’s leadership team members will consist of Heikki Malinen, President and CEO, and the following leadership team members, who will all report to the President and CEO: Related News
Neste has published its annual Green Finance Report for 2025. The Green Finance Report, which covers green financing activities in 2025, demonstrates our commitment to producing renewable fuels and thereby mitigating climate change and accelerating a shift to a circular economy.
Neste has been a pioneer in the green transition for years, and we have made substantial investments in renewables. In 2025, Neste issued a EUR 700 million green bond with the aim to allocate the proceeds to support the Rotterdam refinery capacity expansion project. After the project’s completion in 2027, Rotterdam refinery’s nameplate production capacity will increase to 2.7 million tons of renewable products annually, making it the world’s largest renewables refinery and increasing Neste’s renewables production capacity to 6.8 million tons per year. For the year ending 31 December 2025, we are pleased to announce the allocation of EUR 610 million to capacity expansion and SAF optionality projects in Rotterdam. At the end of 2025, the total allocated green proceeds to Neste’s eligible assets and projects in Singapore, Rotterdam and Martinez, increased to EUR 3,340 million while EUR 510 million remains unallocated and eligible for future allocation. Related News
Toyota Motor Corporation announced changes to its executive and senior professional/senior management employees effective April 1 and the structure of its Board of Directors following the 122nd Ordinary General Shareholders’ Meeting.Related News
QuantumScape Corporation, a global leader in next-generation solid-state lithium-metal battery technology, announced the appointment of Ross Niebergall to its board of directors. Niebergall is an experienced executive with decades of service in the defense sector, leading R&D and technology commercialization in defense applications for multiple defense primes.
Niebergall was most recently President of Aerojet Rocketdyne after its acquisition by L3Harris. He was Chief Technology Officer of L3Harris and Harris Corporation from 2017 to 2023. Previous to Harris Corporation, he was Vice President, Engineering at Raytheon and served as CEO of ThalesRaytheon Systems LLC, a joint venture between Raytheon Company and the Thales Group. He serves on the board of V2X, a provider of critical mission solutions and support services to defense customers worldwide. He holds a PhD in Mathematics from the University of Notre Dame. Related News
UK new light commercial vehicle (LCV) registrations rose by a modest 1.1% in February, with 14,641 vans, pickups and 4x4s joining the road, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT). This was the second increase in three months following a 12-month stretch of decline, but February remains a small volume month, coming ahead of the March plate-change and typically accounting for just some 5% of annual volumes.1
Growth in the month was driven primarily by the large van segment, with registrations of vans weighing 2.5–3.5 tonnes rising 7.6% to 10,719 units, accounting for nearly three quarters (73.2%) of all new vans registered during the month. Demand for vans in the 2.0–2.5 tonne segment also improved, up 16.9% to 2,477 units, while 4×4 registrations increased 64.0% to 269 units. Read More
The UK new car market rose by 7.2% in February to 90,100 registrations, according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT). The growth brings the highest February volume in 22 years,1 although the month is conventionally lower volume and therefore more volatile, with many buyers preferring to wait for the March numberplate change. Demand was largely driven by recovering private retail registrations, up 17.6% to 35,227 units, while fleet uptake grew by 1.8% and the lower-volume business segment declined by -12.7%. Fleets remained the largest source of new car registrations, accounting for 59.4% of the market.
Battery electric vehicle (BEV) uptake rose 2.8% to 21,840 units, representing 24.2% of the market. February was, however, the second consecutive month of decline in BEV market share compared with the same period last year – a dip that partly reflects a strong start to 2025, when new BEV buyers sought to avoid April’s introduction of new tax rates, and comes after a strong push at the end last year to comply with the Zero Emission Vehicle Mandate.2 February’s lower overall volumes can also exaggerate change. Meanwhile, plug-in hybrids attracted the largest growth in demand, up 43.5% to claim an 11.6% market share, while hybrid electric registrations rose 3.3% to a 13.1% share. Petrol demand also grew, by 5.2% but share slipped to 46.5%, while diesel volumes continued to decline, down -3.8% to just 4.5% of the market. Related News
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