25 Mar Energy / Automotive newstrack, commentary and analysis | 25/03/26: OPEC $132.21/bbl
(Oilandgaspress) Iran has announced it will reopen the Strait of Hormuz, a critical waterway through which approximately 20 million barrels of oil pass daily, but only to non-hostile vessels. The announcement followed US President Donald Trump’s disclosure that he had received what he described as a significant, oil-and-gas-related ‘present’ from Iran, though he did not elaborate on its nature.The conditional reopening excludes vessels affiliated with countries currently in conflict with Iran, marking a potential development in the ongoing US-Israel-Iran war Related News
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $86.82 | Down |
| Crude Oil (Brent) | USD/bbl | $98.02 | Down |
| Bonny Light 24/03/26 CBN | USD/bbl | $114.83 | Down |
| Dubai | USD/bbl | $131.97 | — |
| Natural Gas | USD/MMBtu | $2.88 | Down |
| Murban | USD/bbl | $100.30 | Down |
| OPEC basket 24/03/26 OPEC | USD/bbl | $132.21 | Down |
| At press time March 25, 2026 |
POWWR announced the launch of its Meter Validation module. Specifically designed to eliminate manual effort in pricing and contracting workflows, Meter Validation quickly and securely validates meters with trusted UK datasets, enriching data seamlessly with essential supply attributes.
For over 18 years, POWWR’s award-winning cloud-based solutions have streamlined and automated broker–supplier sales workflows. The Meter Validation module is built to eliminate one of the most time-consuming and error-prone steps in energy tendering today: validating MPAN and MPRN meter numbers and enriching datasets ahead of pricing.
Instead of manual spreadsheet manipulation, inconsistent data formats, or repeated checks against multiple systems, Meter Validation delivers fast, accurate, and automated validation, all within a single, intuitive user interface. It securely checks meters against trusted UK industry datasets, providing essential supply attributes, and preparing them for pricing, contracting, and analysis. Related News
Neste Corporation’s Annual General Meeting (AGM) was held today at Scandic Marina Congress Center in Helsinki. The AGM supported all the proposals presented to the meeting and approved the remuneration report. The AGM adopted the company’s Financial Statements and Consolidated Financial Statements for 2025 and discharged the Board of Directors and the President & CEO from liability for 2025.
Dividend of EUR 0.20 per share
The AGM approved the Board of Directors’ proposal that a dividend of EUR 0.20 per share will be paid on the basis of the approved balance sheet for 2025. The dividend will be paid to shareholders registered in the shareholders’ register of the Company maintained by Euroclear Finland Oy on the record date of the dividend payment, which shall be 27 March 2026. The dividend will be paid on 7 April 2026. The AGM approved the authorization, under which the Board is authorized to decide the purchase of and/or take as security a maximum of 23,000,000 Company shares using the Company’s unrestricted equity. The number of shares shall be equivalent to approximately 2.99% of the Company’s total shares.
Shares may be purchased in one or more lots Related News
Russia’s Leningrad Oblast came under a large-scale drone attack overnight on March 25, sparking a fire at the oil terminal of Ust-Luga, regional Governor Alexander Drozdenko said.
Russian authorities claimed that air defense systems shot down 56 drones over the region. Emergency crews were working to extinguish the fire at the port, Drozdenko said, adding that preliminary reports indicated no casualties. According to an unnamed source cited by Reuters, the port area was quickly closed off, with several oil storage tanks set alight. The Kyiv Independent can’t immediately verify the claims. The attack also disrupted air traffic, with Pulkovo Airport in St. Petersburg temporarily suspending operations. Related News
International Home Care & Rehabilitation Exhibition at Tokyo Big Sight.
Among the 414 exhibitors showcasing a diverse range of welfare equipment and assistive technologies, Toyota presented vehicles currently under development, mobile toilet solutions, and other mobility innovations. One of the featured devices was a one-touch wheelchair securement system. With the simple action of hooking onto a wheelchair’s anchor bar and pressing a button, the system allows the wheelchair to be securely fixed in place. Development continues with the goal of making it available on public transportation by land, sea, and air. Toyota Times News covered land-based public transit in 2024, featuring a trial on a public bus. This time, the focus is on transportation at sea.
The trial is being conducted on a high-speed ferry connecting Hateruma Island, Japan’s southernmost inhabited island, with Ishigaki Island in the Yaeyama Archipelago, Okinawa Prefecture.
Ferry travel has traditionally been something many wheelchair users hesitate to choose, partly because rough seas can cause significant motion. Related News
Mark Offshore has reached an agreement with Klaipėda University (Lithuania) to operate Research Vessel Mintis, further strengthening its position in the offshore renewables and subsea support market. Under this agreement, Klaipėda University has appointed Mark Offshore as commercial and operational manager for activities within the renewables and energy domains.
The addition of r/v Mintis represents a strategic expansion of Mark Offshore’s service offering towards flexible, cost-efficient subsea support solutions that are specifically tailored to the growing demands of offshore wind, marine survey, and nearshore energy projects.
Originally designed as a scientific research vessel, r/v Mintis combines high-end research capabilities with practical offshore functionality. This unique combination enables commercial clients to benefit from a highly versatile platform that bridges the gap between traditional Survey Vessels and dedicated Subsea Support Vessels. R/V Mintis is a 40-metre DP1 catamaran research vessel built in 2014, with proven operational experience across the Baltic Sea, North Sea, Mediterranean and Eastern North Atlantic. Since 2015, the vessel has been actively involved in international marine research projects, many of which are directly linked to offshore renewable energy developments. The vessel is currently located in Klaipėda and available for client inspections. Related News
Canada and Nova Scotia are advancing a coordinated push to expand offshore oil and gas development, launching a new licensing round and signaling a sustained reopening of the province’s offshore basin to exploration investment.
The Canada–Nova Scotia Offshore Energy Regulator (CNSOER) has issued a call for bids covering 13 parcels in the Sable Island area and adjacent slope, with submissions due April 28, 2026. Officials said the round marks the first in a planned series of offerings designed to establish a predictable, long-term exploration framework. Nova Scotia’s offshore is estimated to contain between 47 Tcf and 148 Tcf of natural gas and 19 Bbbl to 49 Bbbl of oil in place, positioning the basin as one of the most significant undeveloped opportunities in the North Atlantic. Related News
SBM Offshore has been awarded contracts by ExxonMobil Guyana Limited, an affiliate of Exxon Mobil Corporation, to perform Front End Engineering and Design (FEED) studies for a Floating Production, Storage and Offloading vessel (FPSO) for the Longtail development project in Guyana.
The FEED contracts award triggers the initial release of funds by ExxonMobil Guyana Limited to begin FEED activities and allocate a Fast4Ward® hull for the Longtail development project in Guyana. SBM Offshore will further construct and install the FPSO, subject to government approvals of the development plan, final investment decision by ExxonMobil, and project approval to release the second phase of work.
Under the contracts, the FPSO’s ownership is expected to be transferred to the client at the end of the construction period and before start of operations in Guyana. The construction costs are expected to be partially funded by senior loans which will be repaid at the time of the FPSO’s transfer to the client.
SBM Offshore is expected to operate the FPSO through its integrated operations and maintenance model combining SBM Offshore and ExxonMobil’s expertise and experience, leveraging key learnings and the operational excellence of the units currently deployed in Guyana. Related News
Dana Incorporated is hosting its 2026 Capital Markets Day today in New York City beginning at 9:00 a.m. Eastern Time, where the company’s leadership team will outline the strategic priorities and long term financial targets underpinning Dana 2030, the company’s growth and value creation strategy. At today’s event, executives are outlining Dana 2030, a long range plan designed to accelerate profitable growth, strengthen the company’s competitive position, and generate sustainable long term shareholder value. Dana 2030 includes:
• Approximately $10 billion in annual sales by 2030, representing a thirty-three percent increase compared to 2026 sales guidance.
• Adjusted EBITDA margins of 14 to 15 percent, reflecting 400 basis points of improvement compared to 2026 guidance driven primarily by higher margin new business, operational efficiency, structural cost actions, and disciplined investments.
• Adjusted free cash flow margin target of approximately 6 percent, a ~200 basis point improvement compared to 2026 guidance.
• Up to $2 billion in cumulative share repurchases through 2030, building on the $765 million already completed. Related News
Vestas has announced plans to establish a nacelle and hub factory in Scotland, United Kingdom to meet growing demand for offshore wind in the UK and Europe. The factory, a capital investment in excess of €250m, would produce nacelles and hubs for Vestas’s flagship offshore wind turbine, the V236-15.0 MW. The investment would create up to 500 skilled direct jobs, support further indirect jobs in the wider economy and underpin a supply chain critical to meeting the UK’s clean power targets and energy security. The announcement follows record-breaking AR7 auction results in January 2026, a growing offshore wind order book for Vestas in the UK, and strategic discussions between the UK Government, the Scottish Government and Vestas on the next steps to develop and co-invest in the facility. The final investment decision is conditional on securing sufficient UK-based orders in AR7 and AR8. Subject to the timing of those results, and the planning process, the facility could start production by 2029/2030. The plan also includes identifying opportunities for co-locating sub-suppliers of other major components. Related News
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