19 Dec Energy price,commentary & news update, Crude prices slightly higher on Thursday
London, December 19, 2025, (Oilandgaspress) –BP’s appointment of Meg O’Neill as its next chief executive from April, signalled a strategic pivot back toward oil and gas. Backed by new chairman Albert Manifold and activist investor Elliott Management, the move reflects BP’s retreat from green energy investments and renewed focus on upstream production. O’Neill, currently at Woodside Energy, oversaw a major expansion in oil and gas output but has faced criticism over performance and environmental strategy. BP has recently shelved or sold multiple renewable, hydrogen and biofuel projects as it refocuses on its core fossil fuel business.
EU’s “Automotive Package”
The European Commission has launched a new Automotive Package aimed at supporting the car industry’s transition to clean mobility while maintaining competitiveness and strategic independence. The framework keeps a strong push toward zero-emission vehicles but gives manufacturers greater flexibility to meet CO₂ targets and simplifies regulatory requirements.
Key measures include reduced red tape expected to save companies around €706 million annually, stronger support for EU-made vehicles and batteries, and a €1.8 billion “Battery Booster” to accelerate a fully European battery value chain. The package also promotes uptake of low- and zero-emission corporate vehicles and provides clearer, more predictable rules to support investment as the sector adapts to global technological change. Related News
Italy’s competition authority reportedly stated it had closed probes of BYD, Stellantis, Tesla and Volkswagen for allegedly misleading consumers on the performance of their electric vehicles according to media reports. The investigations for possible unfair commercial practices, launched in February, had focused on information given by the automakers on EV driving range, battery capacity degradation and on limitations to warranty cover for batteries. Related News
Ineos founder Sir Jim Ratcliffe has sharply criticised the UK’s carbon tax, calling it “the most idiotic tax in the world,” after the government stepped in with a £120 million support package to help safeguard around 500 jobs at the Grangemouth petrochemical site in Scotland. Ratcliffe said carbon taxation is undermining domestic manufacturing by draining investment and driving imports from higher-emission countries. While welcoming the government’s intervention, he argued it was only a first step toward restoring the UK’s industrial competitiveness. Related News
Oil prices closed slightly higher on Thursday as markets weighed the prospect of additional U.S. sanctions on Russia and potential supply disruptions linked to a blockade of Venezuelan oil tankers, keeping traders cautious despite broader uncertainty.
| Crude Oil (WTI) Oilprice | USD/bbl | $56.16 | Up |
| Crude Oil (Brent) | USD/bbl | $59.94 | Up |
| Bonny Light 12/12/25 CBN | USD/bbl | $63.37 | — |
| Dubai | USD/bbl | $61.41 | Up |
| Natural Gas | USD/MMBtu | $3.93 | Up |
| Murban | USD/bbl | $61.56 | Up |
| OPEC basket 18/12/25 OPEC | USD/bbl | $60.06 | Up |
| At press time December 19, 2025 . |
Market Drivers to Watch
- Crude price volatility tied to geopolitical tensions, sanctions, supply/demand imbalances, and OPEC+ policy.
- Regulatory shifts in automotive emissions and recycled materials targets impacting EV adoption rates.
- Energy security and taxation policy shaping investment decisions in upstream sectors.
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Submit your Releases or contact us now!, victor@oilandgaspress.com
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