Energy / Automotive News Roundup
London, March 04, 2025 (Oilandgaspress) –- Stellantis welcomed the announcements made yesterday by Commission President von der Leyen following the second meeting of the Strategic Dialogue on the future of the European Automotive Industry.
We also commend the commitment, proactivity and pragmatism of all participating Commissioners and Executive Vice-Presidents, in particular Executive Vice-President Stéphane Séjourné and Commissioner Apostolos Tzitzikostas, during the process.
We share the importance placed on innovation, particularly in software and autonomous driving. Innovation is at the heart of Stellantis’ strategy, as recently illustrated by our partnership with Mistral AI. As pointed by ACEA, the flexibility introduced regarding CO2 targets, with an extended compliance period, is a meaningful first step in the right direction to preserve the competitiveness of our sector while remaining faithful to the targets and committed to electrification. It is now important that the proposed targeted amendment be turned into law quickly. This initiative, together with further support to targeted purchase and fiscal incentives, cheaper (green) energy and investment into charging infrastructure, can be a real accelerator in the ramp up towards electrification. Read More
Baidu and electric vehicle battery giant CATL will jointly explore the development of “competitive” driverless vehicles and innovative business models, the companies said on Thursday. As part of a strategic agreement focusing on digital intelligence and autonomous driving, the companies will team up to develop and apply CATL’s power batteries, battery swapping products and services, and skateboard chassis technology in driverless vehicles. . Read More
Saab has received an order for maintenance and modernisation of the cruise missile TAURUS KEPD 350. The order value is SEK 1.7 billion and the contract period is 2025-2035. The order includes significant system upgrades and modernisation to the German Air Force’s TAURUS missiles as well as a ten-year life cycle maintenance. Saab received the order from the German prime contractor TAURUS Systems, a joint venture between MBDA Germany and Saab. The initial order was placed by Germany’s defence procurement office (BAAINBw) to TAURUS Systems.
“TAURUS KEPD 350 enables the user to defeat targets at long ranges required for the most demanding air operations. The latest upgrades will provide the German Air Force with significant improvements,” says Görgen Johansson, Head of Saab’s business area Dynamics.
TAURUS KEPD 350 is an air-launched cruise missile with a range of more than 500 km used to defeat static ground-based targets . Read More
Africa Oil Corp. announce that the Company repurchased a total of 882,000 Africa Oil common shares during the period of February 24, 2025 to February 28, 2025 under the previously announced share buyback program.
During this period, the Company repurchased 332,000 Africa Oil common shares on the Toronto Stock Exchange (“TSX”) and/or alternative Canadian trading systems. The repurchases were carried out by Scotia Capital Inc. on behalf of the Company. During the same period, the Company repurchased 550,000 Africa Oil common shares on Nasdaq Stockholm, and these repurchases were carried out by Pareto Securities on behalf of the Company.
Africa Oil’s normal course issuer bid (share buyback) program, announced by the Company on December 4, 2024, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbour Regulation) and the applicable rules and policies of the TSX, Nasdaq Stockholm, and applicable Canadian and Swedish securities laws.
All common shares repurchased by Africa Oil under the share buyback program will be cancelled. Read More
Ohmium, a US-based electrolyser manufacturer, is making significant strides in India with plans for more collaborations and project expansions, particularly in the southern states. With a global target of 5 GW capacity by 2030, the company is positioning India as a key hub for green hydrogen and e-fuel production, contributing to the country’s growing role in the clean energy revolution. Its Chief Executive Officer told us that they are in talks with a company in India to close collaborations in a few months. It has previously announced collaborations with NTPC and Hero Future Energies. It has a target to install 5 GW capacity by 2030 around the world including, Europe, Middle East, North America, and South America, India, and Australia and expects that about 40-50 per cent of these installations will be in India. Read More
BP, ranked 5th among the largest oil and gas companies by brand value, with a market cap of $77.14 billion USD as of December 2024, has announced cuts as part of a plan to eliminate $2 billion in costs by 2026. The elimination of the employee positions represents over 5% of the company’s global workforce. Sustainability.com reports that the layoffs and firings will be a part of $500 million USD savings this year. BP, a company with over $194 billion USD in revenue last year – is cutting nearly 5,000 permanent employees and 3,000 contractors, according to reports Read More
Eligible Kia EV9 owners and lessees may soon enjoy Vehicle to Home (V2H)[1] capabilities thanks to Wallbox, an innovative provider of electric vehicle (EV) charging solutions. Wallbox has announced pre-order availability of the Quasar 2 (including the accompanying Power Recovery Unit), the first compatible bi-directional charger to work with the Kia EV9. Eligible EV9 owners and lessees can now pre-order the Quasar 2 and Power Recovery Unit on a first-come, first-served, while supplies last basis. Thanks to bi-directional charging, the EV9 can serve as an energy storage system. For properly equipped homes, Kia’s flagship SUV will be able to reverse its energy flow and send power from the vehicle back into areas of the home during power outages,[3] inclement weather, or other scenarios. The Quasar 2 bi-directional charger offers up to 12 kW of power for and discharging. Quasar 2, including the Power Recovery Unit, will retail for $6,440 (excluding taxes and installation fees). Read More
Skoda makes drastic cuts to keep up with an expensive electric vehicle rollout.
The car manufacturer hopes to boost their electrical vehicles sales by eight per cent, amid a global drop in demand. The costly roll out of electric cars could see penny-pinching across the business, with up to 15 per cent of their 41,000 employees globally out of jobs. Read More
Britain’s net zero drive has made families poorer, according to new research that contradicts Rachel Reeves’s claim that there is no trade-off between economic growth and decarbonisation. Analysis by Peel Hunt showed a precipitous decline in electricity supply since the early 2000s coincided with much slower growth in living standards. The investment bank argued that the two were intrinsically linked. Read More
Tesla’s stock is down about 40% since hitting a high late last year and investors are bracing for more losses as Elon Musk continues to raise his profile in Washington with President Donald Trump. Tesla’s market value fell below $1 trillion this week, but Musk still tops the Bloomberg Billionaires Index. Bloomberg’s Max Chafkin, a panelist on the Elon, Inc. podcast, reports on “Bloomberg Open Interest. Read More
A fire broke out at Rosneft PJSC’s Ufa refinery in the Russian republic of Bashkortostan early Monday.
The blaze resulted from “technological processes” and was extinguished around 9:40 a.m. local time, a regional unit of the Emergencies Ministry said on Telegram, providing no further details. Local media earlier reported that nearby residents had heard “typical drone noises” before the fire occurred. Read More
The GLC has long reigned as the most popular SUV model from Mercedes‑Benz and, in 2024, it was the brand’s best-selling series. Now, customers can anticipate an exciting addition: a new all-electric GLC will enhance the lineup. This GLC establishes a milestone for Mercedes‑Benz. Moving forward, there will be a diverse array of powertrains to cater to all customer needs. Engineered as a battery electric vehicle (BEV), the new all-electric GLC incorporates the latest technology from the esteemed brand. In terms of performance, range, efficiency and charging speed, the electric GLC sets new benchmarks. Simultaneously, it delivers outstanding levels of versatility and practicality like its best-selling siblings.
Heavily camouflaged prototypes of the electric GLC recently embarked on rigorous winter trials in the polar regions of Sweden. Facing temperatures plunging well below freezing and conquering snow-covered roads, these test vehicles triumphed over the most formidable natural conditions with unwavering resilience and exceptional performance.In the new, all-electric GLC, the electric drive unit on the rear axle, which was entirely developed by Mercedes‑Benz, sets new benchmarks, delivering an impressive power. For exceptionally efficient energy use, both electric drive units are equipped with high-performance power electronics featuring cutting-edge silicon carbide inverters. Read More
Trump’s 10% tariff on Canadian oil goes into effect today. This has prompted many to ask an apparently simple question: “Why can’t U.S. refiners just use American oil instead?” As is often the case with energy policy, what seems straightforward on the surface is anything but.
Let me break down why this isn’t as simple as flipping a switch from “Canadian” to “American” crude oil, and what it means for your wallet at the pump.
Infrastructure Isn’t Built for It
Our pipeline infrastructure simply isn’t designed to accommodate such a dramatic shift. The network that currently serves refineries across the Midwest, Great Lakes, and Rockies was specifically constructed to deliver Canadian heavy crude, and these pipelines only flow in one direction—south.
To transport substantial quantities of U.S. crude (primarily from the Permian Basin in Texas or the Bakken in North Dakota) to these northern refineries would require entirely new pipeline configurations or reversing existing flows. That’s not happening overnight. We’re talking years of planning, billions in investment, and navigating complex regulations. Read More
Porsche AG acquired V4Drive GmbH from the VARTA AG-Group on 4 March 2025. The sports car manufacturer is the new majority shareholder of the company, while VARTA AG will retain a minority stake without any operational influence. Porsche and VARTA AG are combining their expertise in the development and production of high-performance cylindrical cells. V4Drive is being rebranded as V4Smart to reflect the realignment of the company. The name change is intended to emphasize that the potential applications of the high-performance cells extend well beyond the automotive sector. The move is expected to open up new customer groups for ultra-high-performance lithium-ion cylindrical cells.
Cells from V4Smart have already made their way into series production at Porsche as booster cells in the 911 GTS models, raising the driving performance of the iconic sports car to a new level. Production of these cells currently takes place at the Ellwangen site. The production facility there has already been brought to series-production readiness with significant input from Porsche Werkzeugbau GmbH. It is planned that from April onwards, the cylindrical cells will also be manufactured in a new facility at the Nördlingen site. Read More
.Porsche has launched two official channels on WhatsApp: Porsche News and Porsche Motorsport. Subscribers to the former will receive news about the company and its products while the latter channel shares updates about the international racing activities of the factory teams. The new offerings expand the options for fans and followers of the brand, with a new way to receive the latest Porsche information directly on their smartphones.
Click here to subscribe to the Porsche News WhatsApp channel, and here for the Porsche Motorsport channel – or scan the QR codes below with your smartphone. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $67.79 | Down |
| Crude Oil (Brent) | USD/bbl | $70.62 | Down |
| Bonny Light 04/03/25 CBN | USD/bbl | $73.53 | Down |
| Dubai | USD/bbl | $77.92 | Up |
| Natural Gas | USD/MMBtu | $4.49 | Up |
| Murban Crude | USD/bbl | $70.77 | Down |
| OPEC basket 03/03/25 | USD/bbl | $74.98 | Down |
Kia Corporation today announced total global sales of 253,850 units in February 2025, a 4.5 percent increase year over year. This strong global sales performance was driven by the successful launches of new models, including the K4 sedan and Syros SUV. Kia SUV models led the company’s sales in February, with the Sportage selling 46,287 units globally. The Sorento SUV backed up this strong market performance with sales of 24,173 units, followed by the Seltos SUV, which sold 24,040 units.
Sales outside of Korea: Excluding special purpose vehicles, sales were up 4.4 percent compared with the same period in 2024, to 207,462 units outside of Korea.
In markets outside of Korea, the Sportage SUV led the brand’s momentum, recording 39,719 sales. The Sportage was followed by the Seltos SUV, which sold 19,276 units, and the K3 (also known as Forte outside of Korea) and K4, which recorded sales of 16,549 units combined. Read More
Sinopec launched its bio-aviation fuel shipment to Hong Kong, marking the first-ever among Chinese companies into the bio-aviation fuel market outside the Chinese mainland. The “Sheng You 238” vessel, loaded with 500 tonnes of our bio-aviation fuel, set sail from Sinopec Zhenhai Refining & Chemical Company (ZRCC) on February 26, heading straight for Hong Kong International Airport. This eco-friendly fuel is also known as Sustainable Aviation Fuel (SAF) made from renewable resources like animal fats, vegetable oils, and used cooking oil, slashes emissions by more than 50% across its life cycle. Read More
Hyundai recently announced its continued investment in Coastal Georgia’s educational sector, particularly through science, technology, engineering, and math (STEM) initiatives, including:
• Partnership with the SAE Foundation to deliver SAE International’s award-winning A World In Motion (AWIM) PreK-12 STEM education program in the Bryan County School District
• Implementation of the Hyundai Hydrogen STEM and RC programs with partner H2GP Foundation in Bryan County
• Continued investment into Georgia Southern University, providing funds for scholarships that will be given to undergraduate students pursuing degrees in STEM
The area is home to the all-new Hyundai Motor Group Metaplant America (HMGMA), Hyundai Motor Group’s first dedicated electric vehicle mass-production plant in Bryan County, Georgia. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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