18 Feb Energy / Automotive news, commentary and analysis |Oil prices up Iran temporarily shuts part of the Strait of Hormuz
(Oilandgaspress) Oil prices edged higher on Wednesday as investors assessed progress in U.S.–Iran talks but remained cautious about the prospects of a final deal that could ease supply concerns.Just as talks began on Tuesday, Iranian state media said Iran was temporarily shutting parts of the Strait of Hormuz, a vital global oil supply route, due to “security precautions” while its elite Revolutionary Guards conducted military drills there. Later, state media said the strait had been shut down for a few hours, without making it clear if it had fully reopened.. This is a rare move, perhaps unprecedented shutdown of the strait, and a signal from Tehran of the potential fallout to the world economy if the US goes through with threats to attack it as tensions mount between the two countries. Related News
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $64.01 | Up |
| Crude Oil (Brent) | USD/bbl | $69.16 | Up |
| Bonny Light 13/02/26 CBN | USD/bbl | $71.16 | — |
| Dubai | USD/bbl | $67.05 | — |
| Natural Gas | USD/MMBtu | $2.99 | Down |
| Murban | USD/bbl | $69.58 | Up |
| OPEC basket 17/02/26 OPEC | USD/bbl | $66.53 | Up |
| At press time February 18, 2026 . |
Nigeria lost an estimated N1.76tn in potential crude oil revenue after failing to meet its production quota set by OPEC between January 2025 and January 2026. Figures from the Nigerian Upstream Petroleum Regulatory Commission show that the country fell short of its 1.5 million barrels per day (mbpd) quota in nine months of 2025 and again in January 2026, despite relatively favourable global oil prices during much of the period. Data from the Central Bank of Nigeria indicate that Bonny Light crude averaged $72.08 per barrel across the 10 months for which official pricing was available. Based on this average, the 18.12 million-barrel shortfall equates to an estimated revenue loss of $1.31bn. At an exchange rate of N1,353 per dollar, this amounts to about N1.76tn in lost revenue Industry experts say the repeated failure to meet OPEC quotas underscores persistent structural challenges in Nigeria’s oil sector, including infrastructure constraints, operational setbacks, security disruptions in the Niger Delta, and inconsistent field performance. Related News
When Red Bull athlete Dario Costa touched down on top of a moving cargo train travelling at 120 km/h, he became the first pilot in aviation history to land a plane and take off from a moving train. Behind that world-first feat was months of meticulous preparation, and at the heart of it, Rimac’s Nevera R and Nevera hypercars as a training tool. Executed on 15 February 2026 on a 2.5 km railway track in Afyonkarahisar, Türkiye, the project required Costa to approach a moving train container at near-stall speed – just 87 km/h – while simultaneously managing severe wake turbulence, a disappearing target on approach, and a 50-second operational window in which to land, and take off again. There was no margin for error. There was also no precedent.
To prepare, Rimac worked with Costa on a three-day test program at Pula Airport, Croatia. The Nevera R — the fastest accelerating car ever built — and the Nevera hypercar were used as high-precision moving reference platforms, giving Costa a real-world moving surface against which to rehearse the cognitive and physical demands of landing almost completely blind on a moving target. At speeds directly comparable to those required during the actual landing approach, the hypercars allowed Costa to train speed synchronization, alignment judgement and reaction timing.Rimac’s contribution extended beyond the vehicles it provided. The company’s engineering team, experts in composite structures, and precision ergonomics from the work on Nevera, designed and produced a fully custom-fitted seat for Costa, developed from scratch to fit the extremely limited space of his aircraft cockpit. Related News
Algerian President Abdelmadjid Tebboune has announced that construction of the long-planned Trans-Saharan Gas Pipeline (TSGP) will begin immediately after the holy month of Ramadan, marking a key milestone for one of Africa’s largest regional energy infrastructure projects, the official Algeria Press Service (APS) reported on Monday. TSGP is a proposed 4,128-kilometre (km) natural gas pipeline designed to link gas fields in southern Nigeria to Algeria via Niger to export gas to Europe. Related News
Audi will be entering Formula 1 with its own factory team starting in March. The inaugural adidas x Audi Revolut F1 Team collection for team and fans is available in stores starting February 19.
With its entry into Formula 1, Audi aims to inspire people around the world, win new fans for the brand, and build a global community that extends beyond motorsport. To support this ambition, the team is launching a dedicated collection in collaboration with global sports performance brand adidas, which will initially comprise more than 160 different clothing items and accessories. The adidas x Audi Revolut F1 drop gives fans the choice between official teamwear and a lifestyle fanwear collection. Both ranges deliver the same premium standards of quality, comfort, and design. .Related News
TechnipFMC plc announced that its Board of Directors has authorized and declared a quarterly cash dividend of $0.05 per share, payable on April 1, 2026 to shareholders of record as of the close of business on the New York Stock Exchange on March 17, 2026, which is also the ex-dividend date. .Related News
Andreas Mindt, Head of Design Volkswagen Brand, will additionally lead Group Design for the Volkswagen Group starting March 1, 2026. He succeeds Michael Mauer, who is leaving the company on amicable terms as part of a generational transition. Mauer had previously transferred his responsibilities at Porsche to his successor. Andreas Mindt began his career in the Volkswagen Group in 1996 after graduating with a degree from the Pforzheim University School of Design. By 2014 he had already held several positions at the Volkswagen brand, working on the design of the first generation of the Tiguan and on the exterior design of the Golf 7, among other things. From 2014 until 2021, he spearheaded the realignment of Audi’s exterior design from the Audi A1 through to the Audi e-tron GT and from the Audi Q3 through to the Audi Q8. From 2021, as Director of Bentley Design, he was tasked with defining Bentley’s new design language, unveiled last summer with the Bentley Batur. He has held the post of Head of Design at the Volkswagen Passenger Cars brand since February 2023. .Related News
During the period from 9 to 13 February 2026, Eni acquired on the Euronext Milan no. 2,220,844 shares (equal to 0.07% of the share capital), at a weighted average price per share equal to 18.0112 euro, for a total consideration of 39,999,986.22 euro within the treasury shares program approved by the Shareholders’ Meeting on 14 May 2025, previously subject to disclosure in accordance with applicable legislation. On the basis of the information provided by the intermediary appointed to make the purchases, here below a synthesis of transactions for the purchase of treasury shares on the Euronext Milan on a daily basis: From the start on 20 May 2025 of the buyback program, Eni acquired no. 117,593,461 shares (equal to 3.74% of the share capital) for a total consideration of 1,778,325,856.82 euro. Considering the treasury shares already held and the purchases made and the free of charge shares granted to Eni’s executives (following the conclusion of the Vesting Period as provided by the “Long-Term Incentive Plan 2020-2022” approved by Eni’s Shareholders’ Meeting of 13 May 2020) and to Eni’s employees (as provided by the “Employee Stock Ownership Plan” approved by Eni’s Shareholders’ Meeting of 15 May 2024), Eni holds n. 204,421,475 shares equal to 6.50% of the share capital. Related News
Alaska may be the largest state in the U.S. but its economy is facing serious challenges. With oil resources declining, the state’s reliance on natural resources has created stagnation. In this video we explore what Alaska’s future could look like without oil and how strategic decisions will shape its economy. Watch to discover the paradox of vast lands and shrinking wealth. Related News
Space is increasingly limited for wind farms in parts of the North Sea off Germany, the chief executive of Swedish energy giant Vattenfall told dpa in comments released on Wednesday. Anna Borg explained that wind-farm turbines can interfere with each other, leading to reduced output for wind farms upwind in a phenomenon known as the wake effect. Read More
Rolls-Royce is launching a new modular solution for gas engine power plants that will provide security of supply and accelerate the implementation of the German Government’s Power Plant Strategy. The turnkey plants deliver between five and several hundred megawatts of power, depending on requirements and are H2-ready solutions suitable for the future use of hydrogen. Thanks to preconfigured, factory-tested modules with 10, 20 and 30 megawatts each, the power plants can be connected to the grid within 12 to 18 months of ordering. The power generation plants are available as backup and compensate for fluctuations in the feed-in from wind and solar energy. This is particularly important during periods of low wind and low sunlight, when gaps of between 10 hours and several weeks need to be bridged. In some applications, they can also act as a bridging solution – providing continuous power until a connection can be made to the grid, or another power source such as nuclear, at which point the gensets can switch to providing backup power. . Related News
Rolls-Royce’s new hybrid aircraft engine aims to reduce aviation emissions by 30% The aviation industry is looking to take a cue from the recent success of hybrid cars. In partnership with the Norwegian research organization SINTEF, Rolls-Royce aims to develop a hybrid aircraft engine that combines electricity and fuel to reduce emissions while maintaining reliability.
According to the researchers, this innovation could reduce CO2 emissions by up to 30 percent, especially for domestic flights. The team at SINTEF and Rolls-Royce is collaborating to develop electrical insulation for a hybrid aircraft engine stator. A stator makes a rotor turn in an electrical motor, and strong insulation is required to protect it from the high voltages and frequencies used for hybrid flight. Related News
SINTEF and Rolls-Royce are collaborating to develop the electrical insulation for what is called the stator. It is located at the heart of the electrical machine and makes the rotor turn. Hybrid cars have been successful. Now the aviation industry is following suit and testing out the combination of electricity and fuel. In the future, regional flights such as Trondheim-Oslo could become much more environmentally friendly with the help of a hybrid aircraft engine. This type of engine combines an electric motor and a combustion engine to drive a propeller. The innovation should be able to reduce CO2 emissions by up to 30 percent.
“The principle that causes emissions to decrease is the same as for hybrid cars – that is, a combination of both fuel and electricity,” says SINTEF researcher Torstein Grav Aakre. Aviation accounts for about four percent of the EU’s total climate emissions. This solution has the potential to reduce emissions by as much as one percent throughout the EU, according to the researcher. Related News
Researchers have developed a solar cell system that uses mirrors to concentrate solar energy. In addition to electricity, it produces heat for a plant that will capture carbon from industrial emissions.
The solar cells in the large pilot plant are a full five metres high and consist of many mirrors that are angled towards the solar cells to concentrate sunlight. They make it possible to collect the sun’s rays into concentrated solar energy, as well as heat that supports a plant designed to capture CO2.
“The system has been tested and validated. It is quite innovative and unique and stands out by storing heat in addition to the electrical current,” says SINTEF research scientist Alfredo Sanchez Garcia.
The energy from the plant will be used to capture carbon from industrial emissions. The researchers have collaborated with Svalin Solar on the development of the plant. Read More
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