Energy / Automotive News May 01, 2025
London, May 01, 2025 (Oilandgaspress) –- U.S. Treasury Secretary Scott Bessent and Ukrainian First Deputy Prime Minister Yulia Svyrydenko signed the minerals deal that President Trump insisted on as a condition for continued U.S. support for the Ukrainian government.
Per a Reuters report on the news, the deal is important for the Ukrainian government, which hopes to appease President Trump and motivate him to extend U.S. aid of all sorts. Indeed, Svyrydenko wrote on X, as cited by Reuters, that “In addition to direct financial contributions, it may also provide NEW assistance – for example air defense systems for Ukraine.”
The U.S. side has not made such specific suggestions, however. Read Related News
Aston Martin has added extra oomph and trimmed a few kilos from its hulking DBX to create what it calls the ‘most sporting, dynamically capable and enthralling ultra-luxury SUV on the market’. Debuting today is its new range-topping DBX S model with an upgraded 4.0-litre Twin-Turbo V8 petrol engine boasting an extra 20 horsepower over the most potent example yet – the DBX707 – to create a 727hp school-run super-SUV. With prices starting from £210,000, order books are open now, with first deliveries expected from late autumn.Aston Martin says the engine incorporates new turbo technology developed for its Valhalla hypercar that will make the DBX S’s performance ‘even more memorable’. And the stats suggest it will be blisteringly quick. Its acceleration time from a standstill to 62mph is a jaw-dropping 3.3 seconds. It will hit 124mph in 7.3 seconds and has a limited top speed of 193mph.A modified exhaust system brings more character and amplification ‘to the natural voice of the thunderous V8 engine’, says the firm based at Gaydon in Warwickshire. Lightweight options including extensive carbon fibre trim also offer a reduction of up to 47kg over the continuing DBX707, while a new carbon fibre roof option lowers centre of gravity for even more dynamic handling, Aston Martin boffins explained to us. Three-metre square, this carbon roof panel with a single weave pattern shaves more kilos off the top and ‘is by far the largest such carbon element ever fitted to an Aston Martin’, says the company. Aston Martin SUV
Equinor delivered adjusted operating income* of USD 8.65 billion and USD 2.25 billion after tax in the first quarter of 2025. Equinor reported net operating income of USD 8.87 billion and net income at USD 2.63 billion. Adjusted net income* was USD 1.79 billion, leading to adjusted earnings per share* of USD 0.66.
Strong financial and operational performance
Strong financial results and cash flow
Solid oil and gas production
Strategic progress
Successful start-up of the Johan Castberg and Halten East fields
Final investment decision on Northern Lights phase 2
Capital distribution
First quarter cash dividend of USD 0.37 per share
Proposed second tranche of share buy-back of up to USD 1.265 billion
Expected total capital distribution for 2025 of up to USD 9 billion
Equinor delivered a total equity production of 2,123 mboe per day in the first quarter, down from 2,164 mboe in the same quarter last year.
The operational performance for most of the fields on Norwegian continental shelf is strong, including the Johan Sverdrup and Troll fields. This almost offsets the negative production impact from the shut-in at Sleipner B after the fire in fourth quarter 2024 and planned and unplanned maintenance at Hammerfest LNG.
In the US, production increased from the same period last year. This was due to increased production from the fields and transactions increasing Equinor’s ownership interest in onshore gas assets in 2024.
The production from the international upstream segment, excluding US, is down compared to the same quarter last year, due to exits from Nigeria and Azerbaijan in 2024.The board of directors has decided a cash dividend of USD 0.37 per share for the first quarter 2025, in line with communication at the Capital Markets Update in February. Expected total capital distribution for 2025 is USD 9 billion, including a share buy-back programme of up to USD 5 billion. The board has decided to initiate a second tranche of the share buy-back programme of up to USD 1.265 billion. The second tranche is subject to an authorisation from the company’s annual general meeting 14 May 2025 and will commence after this. The tranche will end no later than 21 July 2025. The first tranche of the share buy-back programme for 2025 was completed on 24 March 2025 with a total value of USD 1.2 billion. Equinor first quarter 2025 results
McLaren Group Holdings, Chief Executive Officer, Nick Collins, will lead McLaren Automotive alongside his responsibilities at Group level, which includes overseeing CYVN Holdings’ majority shareholding in McLaren Licensing and the Group’s non-controlling stake in McLaren Racing. Earlier this month, Abu Dhabi advanced mobility investment vehicle, CYVN Holdings, successfully acquired McLaren Automotive, and began to integrate it with its anchor UK investment, luxury start-up, Forseven.
The change in leadership begins with immediate effect. Collins takes on this role after Michael Leiters, former Chief Executive Officer, McLaren Automotive, stepped down from the position. Leiters joined the company in July 2022 during a particularly challenging period. His contribution and leadership were crucial to the company’s transition, including important phases like the recapitalisation and change of ownership. McLaren CEO Steps Down
The cold weather stages of the McLaren W1’s exhaustive test and validation programme concluded earlier in 2025, and elements of the development activity – which usually takes place in secret – are being shared publicly. Comprehensive cold weather testing programme for McLaren W1 prototypes in the Arctic Circle completes validation of key vehicle systems and capabilities in sub-zero conditions Optimisation of chassis, traction control, torque vectoring and electronic stability programme systems on ultra-low grip surfaces ensures that the 1,275PS and 1,340Nm power and torque produced by the epic new V8 hybrid powertrain at the heart of W1 can truly deliver performance everywhere
Stress testing of HV battery, gearbox and new MHP-V8 engine in extreme cold pushes durability and performance to the extremes McLaren W1 masters snow and ice in sub-zero testing
The dedicated CO₂ carrier currently under construction at Royal Niestern Sander shipyard in the Netherlands is a cornerstone in Greensand’s mission to deliver EU’s first full-scale carbon capture and storage (CCS) value chain.The construction of this unique vessel in the Netherlands underscores the innovative spirit of northern Dutch shipbuilding. Wagenborg and Royal Niestern Sander have previously pioneered game-changing vessels such as ‘walk-to-work’ offshore support ships and the EasyMax series. The landmark agreement between INEOS and Wagenborg for the delivery of this new-build CO₂ carrier was signed in November 2024, in the presence of HM King Willem-Alexander of the Netherlands and HM King Frederik of Denmark.
The vessel is specifically designed to transport liquefied CO₂ from onshore capture sites to offshore storage in the Danish part of the North Sea. Once launched and operational, the carrier will sail regular routes from Port Esbjerg to the Nini West platform, where the CO₂ will be injected for safe and permanent storage to the Nini reservoir approx. 1,800 metres beneath the seabed.
These geological formations have securely contained hydrocarbons for millions of years and have been thoroughly assessed and certified for safe and permanent CO₂ storage.
Mads Gade, CEO INEOS Energy Europe says: ”The geology in the Danish part of the North Sea is very well suited for safe and permanent storage of CO2. By fulfilling the potential for storage of CO2 deep below the subsurface in the Danish North Sea we can make a significant contribution to achieving both Danish and European climate goals. The CO2 carrier will play a pivotal role for Greensand in establishing and developing the first operational CO₂ storage facility in the EU aimed at mitigating climate change”.
The ship itself is designed to meet the highest standards for safety and environmental performance and is tailored to the specific technical requirements of CO₂ transport, including onboard cooling and pressure systems. With the completion of the ship’s hull, the vessel enters the next phase of construction, which includes retrofitting, commissioning, testing, and sea trials.
This milestone follows a series of major developments in the Greensand project. In December 2024, INEOS and its partners Harbour Energy and Nordsøfonden made the Final Investment Decision (FID) to move ahead with full-scale CO₂ storage operations in the Nini Field.
With the plan to initiate safe sand permanent CO₂ storage in the Nini Field by late 2025/early 2026, Greensand is expected to become the EU’s first operational CO₂ storage facility aimed at mitigating climate change. This investment decision has paved the way for expected investments exceeding 1 billion DKK across the Greensand CCS value chain to scale up storage capacity.
The dedicated carrier is central to fulfilling this ambition, enabling safe, efficient, and scalable transport of captured CO₂ from across Europe to the Danish storage site. Construction has progressed steadily with several key sections of the vessel completed and assembled. Earlier this year, the successful and safe transport of the aft ship marked another significant step forward. Project Greensand aims to begin regular offshore CO₂ injection by the end of 2025 or early 2026. The project’s initial phase targets the permanent storage of 400,000 tonnes of CO₂ annually, with the potential to scale up to 8 million tonnes per year by 2030. The arrival of the new CO₂ carrier will be vital in ensuring this ambition becomes a reality – not only for Denmark but for Europe’s broader climate goals. . First European built offshore CO₂ Carrier to Be Launched on May 14
Aquila European Renewables plc, the London-listed investment company advised by Aquila Capital Investmentgesellschaft mbH (“Aquila Capital”), announced on 24 October 2024 that, following the resolution by Shareholders on 30 September 2024 that the Company pursue a managed wind down process, it had appointed Rothschild & Co as financial advisor to pursue a sale of the Company’s portfolio.
The Board of AERI (the “Board”) is pleased to announce that it has entered into a sale and purchase agreement with the other shareholders in Sagres, being funds managed and advised by Aquila Capital, for the sale of its 18% interest in the Portuguese hydropower asset referred to as Sagres (the “Sagres Disposal”). The Sagres Disposal is subject to the grant of customary regulatory approvals, with completion expected to occur by June 2025.
The cash consideration for the Sagres Disposal is approximately EUR 16.5 million, representing the prevailing valuation reflected in the Company’s net asset value as at 31 December 2024 (the “Sagres Cash Consideration”). On this basis, the Board believes that the price agreed, as well as the speed of execution delivered, represents a successful outcome for AERI Shareholders. The Board, together with its advisers, continues to work on the divestment of the remainder of the Company’s portfolio in accordance with the Company’s managed wind-down investment policy, with the aim to deliver the best end result to AERI Shareholders. Whilst the Sagres Disposal is at a valuation in line with the net asset value of the Company’s interest in Sagres as at 31 December 2024, prevailing renewable market conditions remain uncertain and dynamic and therefore there can be no guarantee that a similar outcome can be achieved on the sale of the Company’s remaining portfolio. The Board looks forward to updating the market further in due course. Aquila European Renewables sells minority stake in hydropower asset
NIO Inc. announced its April 2025 delivery results.
The Company delivered 23,900 vehicles in April 2025, representing an increase of 53.0% year-over-year. The deliveries consisted of 19,269 vehicles from the Company’s premium smart electric vehicle brand NIO, 4,400 vehicles from the Company’s family-oriented smart electric vehicle brand ONVO, and initial deliveries of the Company’s small smart high-end electric car brand FIREFLY, which started in late April 2025. Cumulative deliveries reached 737,558 as of April 30, 2025.
Our small smart high-end electric car, firefly, was officially launched on April 19, 2025. Built upon NIO’s expertise in research and development, design capabilities, safety standards, and intelligent technologies, firefly embodies the brand DNA of being “vivid, thoughtful and solid.” It offers a vivid driving experience where users can embrace the freedom to glow. Following the product launch, firefly started deliveries in China in late April 2025, with plans to gradually reach global markets in the near future. NIO Inc. Provides April 2025 Delivery Update
Africa Oil Corp. reports the following share capital and voting rights update in accordance with the Swedish Financial Instruments Trading Act. As a result of the issuance of 762,907 common shares due to a residual settlement of performance share units, triggered by the completion of the amalgamation to consolidate all of the Prime Oil & Gas Coöperatief U.A shareholding in Africa Oil, the Company has 675,436,334 common shares issued and outstanding with voting rights as at April 30, 2025.. Africa Oil share capital update
Under the patronage of His Excellency Eng. Salim bin Nasser Al Aufi, Minister of Energy & Minerals of the Sultanate of Oman, Patrick Pouyanné, Chairman and CEO of TotalEnergies, and Ahmed Al Azkawi, OQ Exploration and Production CEO, celebrated the ground-breaking of the Marsa LNG plant, in the port of Sohar, northern Oman, one year after the Final Investment Decision.
The 1 million ton per year (Mt/y) liquefaction plant is being built by Marsa LNG LLC, a joint company between TotalEnergies (80%) and OQEP (20%). The LNG production, which is expected to start in the first quarter of 2028, is primarily intended to serve the marine fuel market (LNG bunkering) in the Gulf.
One of the lowest carbon intensity LNG plants in the world
The Marsa LNG plant is fully electrified and combined with a 300 megawatt-peak (MWp) photovoltaic solar farm that will supply the equivalent of the plant’s annual energy needs. Marsa LNG will therefore be one of the lowest carbon intensity LNG plants in the world, with less than 3 kg CO2e/boe of scope 1 and 2 emissions. For reference, this is 90% lower than the average carbon intensity of LNG plants in the world, which stands around 35 kg CO2e/boe1.
The first marine LNG bunkering hub in the Middle East. Ideally located at the entrance to the Gulf, the Marsa LNG site has been selected to establish the first LNG bunkering hub in the Middle East. TotalEnergies and OQEP break ground at Marsa LNG
Toyota Motor Corporation (“Toyota”) and Waymo reached a preliminary agreement to explore a collaboration focused on accelerating the development and deployment of autonomous driving technologies. Woven by Toyota will also join the potential collaboration as Toyota’s strategic enabler, contributing its strengths in advanced software and mobility innovation. This potential partnership is built on a shared vision of improving road safety and delivering increased mobility for all. Toyota and Waymo aim to combine their respective strengths to develop a new autonomous vehicle platform. In parallel, the companies will explore how to leverage Waymo’s autonomous technology and Toyota’s vehicle expertise to enhance next-generation personally owned vehicles (POVs). The scope of the collaboration will continue to evolve through ongoing discussions.
Toyota has long advanced research and development in support of a zero-traffic-accident vision, guided by a three-pillar approach that integrates people, vehicles, and traffic infrastructure. Automated driving and advanced safety technologies play a central role, exemplified by the development and global deployment of Toyota Safety Sense (TSS) — a proprietary suite of advanced safety technologies. TSS reflects Toyota’s belief that technologies have the greatest impact when they are made widely accessible. Through this new collaboration, the companies aim to further accelerate the development and adoption of driver assistance and automated driving technologies for POVs, with a continued focus on safety and peace of mind.
Waymo, the global leader in autonomous driving technology, now serves more than a quarter of a million trips each week across the San Francisco Bay Area, Los Angeles, Phoenix, and Austin. With tens of millions of miles traveled, the data shows that Waymo is making roads safer where it operates, including being involved in 81% fewer injury-causing crashes compared to a human benchmark. Waymo is building a generalizable driver that can be applied to a variety of vehicle platforms and businesses over time. The company continues to scale its commercial ride-hailing service, Waymo One, and through this strategic partnership will now begin to incorporate aspects of its technology for personally owned vehicles.. Waymo and Toyota to Advance Autonomous Driving Deployment
Cherry blossom season marks new beginnings in Japan, and this spring, it also signals Waymo’s arrival. Late last year, we announced a partnership with GO, a leading Japanese taxi platform, and Nihon Kotsu, Tokyo’s largest taxi company, to introduce Waymo’s autonomous driving technology to Japan and explore its potential benefits within the city’s transportation ecosystem. Since then, we’ve been hard at work with our partners as we prepare for Waymo’s vehicles to begin driving on Tokyo’s streets. Nihon Kotsu established a new depot to accommodate Waymo vehicles; Waymo conducted training sessions with Nihon Kotsu and GO teams, focusing on best practices for autonomous fleet operations management; and together, we have begun fostering strong community relationships through outreach to the general public, local organizations, and government agencies.Soon Nihon Kotsu drivers will begin manually driving Waymo’s vehicles in Tokyo— our first kilometers on international public roads. These vehicles will navigate across several wards of Japan’s capital city including Minato, Shinjuku, Shibuya, Chiyoda, Chūō, Shinagawa, and Kōtō, creating detailed 3D maps of the city and gathering essential experience from professional drivers to inform the development of Waymo’s technology for Japan.. Cherry Blossoms and Waymo: in Japan
The company has explored several refinancing options and this process is ongoing. Among the measures that are being discussed are: (i) a potential conversion of an existing USD 15 million shareholder loan; (ii) a new equity issue in cash of a NOK amount equivalent to approximately USD 15 million (a “Private Placement”); (iii) certain amendments to the repayment profile of the company’s existing USD 65 million facility agreement dated December 22, 2023 with security inter alia over the rig Paul B Lloyd Jr. (the “Secured Facility”); (iv) a new secured loan in the amount of minimum USD 20 million; and (v) certain other cash management improving initiatives. The company and the relevant stakeholders have not yet been able to establish an agreed refinancing plan.
With respect to the Secured Facility, the company has entered into an amendment agreement providing for amortisation relief of the instalments payable for April, May and June 2025 for a total amount of USD 5 million and a waiver of the market capitalisation covenant from March 2025 until 31 May 2025 (the “Waiver and Payment Deferral”). The Waiver and Payment Deferral is subject to various conditions inter alia that certain cash management improvement initiatives are implemented no later than 5 May 2025.
The company has mandated Arctic Securities AS as Global Coordinator and Bookrunner for the Private Placement. Wikborg Rein Advokatfirma AS is acting as legal counsel to the Company.
The above initiatives are pursued to secure the company’s going concern and address a challenging liquidity position stemming from (i) overdue accounts payables; (ii) the possibility of a negative outcome of the UK legacy tax case with the His Majesty’s Revenue and Customs (HMRC); (iii) a scheduled Special Periodic Survey (SPS) of the rig Paul B Lloyd Jr. of net USD 20 million; and (iv) increased operational expenses with respect to the rig Blackford Dolphin.
As a result of the foregoing, the company is amending its financial calendar such that the date of the publication of the company’s 2024 annual report will be changed to 30 May 2025.Dolphin Drilling AS announces that the company is pursuing a refinancing plan.
Dolphin Drilling AS announces changes to the Company’s senior management team, following events disclosed on the 29th of January and the 28th of February 2025. Jon Oliver Bryce has been appointed permanent Chief Executive Officer (CEO), effective immediately.
As announced on the 28th of February 2025, the current Chief Financial Officer (CFO) Stephen Cox will step down. VP Corporate Finance & Investor Relations, Ingolf Gillesdal, has been promoted to CFO, effective from the 15th of April. Cox will stay on until the summer to support the Company and the CFO transition. Dolphin Drilling Appoint permanent CEO and new CFO
Oil prices are expected to decline following reports that OPEC+ may increase output
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $56.42 | Down |
| Crude Oil (Brent) | USD/bbl | $59.33 | Down |
| Bonny Light 30/04/25 CBN | USD/bbl | $65.10 | Down |
| Dubai | USD/bbl | $67.78 | — |
| Natural Gas | USD/MMBtu | $3.41 | Up |
| Murban Crude | USD/bbl | $59.50 | Down |
| OPEC basket 29/04/25 | USD/bbl | $66.52 | Down |
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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