February 12, 2025 Latest Energy / Automotive News and Analysis
London, February 12, 2025 (Oilandgaspress) –- Oil prices fell today, following gains made over the past three days.Brent futures fell 36 cents, or 0.47%, to $76.64 a barrel, while US West Texas Intermediate (WTI) crude declined 37 cents, or 0.5%, to $72.95 a barrel. OPEC has signalled it would not change its production policy despite calls from the US president to bring more oil to market. Gold prices fell on Wednesday. Spot gold fell 0.1% to $2,895.38 per ounce. US gold futures decreased by 0.4%, reaching $2922.40. Palladium rose by 0.3% to $978.75.
(QNA) – Japan requested the United States on Tuesday to be exempt from Trump’s new 25 percent tariffs imposed on steel and aluminum imports. Japan’s Trade Minister Yoji Muto said in a press conference that Tokyo had requested that its steel and aluminum products be exempted from the tariffs imposed by US President Donald Trump, adding that Japan will closely examine the impact of US tariff measures on Japanese companies and will take necessary actions. Read More
The White House blocked an Associated Press reporter from an event in the Oval Office on Tuesday after demanding the news agency alter its style on the Gulf of Mexico, which President Donald Trump has ordered renamed the Gulf of America.
The reporter, whom the AP would not identify, tried to enter the White House event as usual Tuesday afternoon and was turned away. Later, a second AP reporter was barred from a late-evening event in the White House Diplomatic Room.
The highly unusual ban, which Trump administration officials had threatened earlier Tuesday unless the AP changed the style on the Gulf, could have constitutional free-speech implications. Read More
Mitsubishi Power announced today that it has won a major order in Morocco to supply two M701JAC gas turbines and auxiliary equipment for the Al Wahda Open Cycle Gas Turbine Power Plant owned and operated by The National Office of Electricity and Drinking Water (ONEE).
The Al Wahda Power Plant, located near Al Wahda Dam in the Province of Ouazzane in the north of Morocco, will play a crucial role in stabilizing the Moroccan national grid. This peaker power plant will integrate with the country’s growing renewable energy resources, providing rapid response to grid fluctuations and ensuring continuous, reliable power supply. Once operational, the plant’s two gas turbines will generate a combined 990 MW, representing nearly 7% of Morocco’s national grid capacity.
The agreement was signed in Rabat at ONEE’s Headquarters, in the presence of ONEE CEO Mr. Tarik Hamane and a senior delegation from Mitsubishi Power attended by Mitsubishi Power EMEA President and CEO Javier Cavada and MENA President Khalid Salem alongside a senior delegation from the project’s consortium partner, China Energy Engineering Corporation Limited (CEEC).
Mitsubishi Power’s state-of-the-art M701JAC gas turbines, which are capable of co-firing hydrogen with natural gas, with industry-leading reliability and high efficiency rate, will support Morocco’s long-term sustainability objectives by offering flexibility for future decarbonization. Read More
.Final Train Set of New 7000 Series AGT Trains Delivered to Astram Line — Playing a Role in Public Transportation in Hiroshima, the International Peace City. Mitsubishi Heavy Industries have completed delivery of a total of 24 trains (144 cars) to the Astram Line Contributing to the “local production, local operation” of trains manufactured at our vehicle factory in Mihara City, Hiroshima Prefecture and operated in Hiroshima City, Hiroshima Prefecture Read More
During the period from 3 to 7 February 2025, Eni acquired on the Euronext Milan no. 3,646,027 shares (equal to 0.11% of the share capital), at a weighted average price per share equal to 13.7135 euro, for a total consideration of 49,999,849.55 euro within the second tranche of the treasury shares program approved by the Shareholders’ Meeting on 15 May 2024, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999, for the purpose of paying to the Shareholders an additional remuneration compared to the distribution of dividends. Read More
Nigeria’s national grid experiences another system collapse. The grid lost power generation on Wednesday morning, Feb. 12. On its X handle today, the Abuja Electricity Distribution Company confirmed the development.
The statement released by AEDC reads: “Dear Valued Customer, We regret to inform you that a system disturbance occurred on the national grid at 11:34 am today causing a power outage across our franchise areas.
“While gradual restoration of power supply has commenced, please be assured that we are working closely with relevant stakeholders to fully restore electricity as soon as the grid is stabilised. Thank you for your understanding and patience as we work to serve you better.” Read More
India is demanding back taxes running into a record $1.4 billion from Volkswagen, after 12 years of scrutiny. In return, VW is suing Indian authorities to quash the demand. But there are concerns that lengthy investigations and litigation could sour the plans of foreign firms in the fastest-growing major economy. Automakers such as Hyundai, Honda and Toyota face demands for about $6 billion collectively. In disputes on income-tax, customs and other payments that go back years, according to Reuters analysis. Prime Minister Narendra Modi has been courting foreign investors with promises to simplify regulations. But lengthy tax investigations remain a sore point. Read More
Lyft and Anthropic will work together to create new Lyft products that transform the rideshare experience for millions of riders and drivers. Together, the companies will collaborate on customer-first AI products to improve the rideshare experience for more than 40 million annual riders and over 1 million drivers in the Lyft community. In addition to creating the next wave of AI-enhanced features, Lyft will gain early access to research test Anthropic’s breakthrough models and technology, and the companies will work together to train and supercharge Lyft’s Engineering workforce.
Anthropic, known for its human-centric approach to AI, will work with Lyft to build smart, safe, and empathetic AI-powered products that put riders and drivers first. When Lyft’s customers engage with an Anthropic-supported feature, they can expect the character and human tone that Anthropic’s Claude users know and love. The first phase of the collaboration is already underway and bearing fruit for customers. Lyft has incorporated Claude, via Amazon Bedrock, into its customer care AI assistant, delivering fast responses to the most common support issues, and directing customers to a human specialist when more hands-on assistance is required. Since its deployment, Lyft’s customer care AI assistant has reduced the average customer service resolution time by 87% and is resolving thousands of customer requests each day. Read More
Lyft has announced it will start using autonomous vehicles. In a social media post, CEO David Risher said they could debut in Dallas by 2026.
The rideshare company joined forces with Marubeni, a Japanese company that will own the fleet of cars that feature Mobileye Drive technology.
Officials at Lyft say that once these vehicles are out, customers can choose to go driverless. Read More
Hyundai America Technical Center, Inc. (HATCI) held a celebration event earlier this week in honor of 20 successful years of quality and performance testing at its California Proving Ground (CPG) in California City, Calif. The $80 million facility, which opened in 2005, has seen more than 5,000 Hyundai Motor, Kia, and Genesis vehicles undergo rigorous testing on a variety of roads and in extreme conditions to ensure their quality, durability, reliability, and safety. “The Hyundai Motor Group has made exceptional progress over the past 20 years, thanks in part to our California Proving Ground and the outstanding work of our team there,” said Euisun Chung, Executive Chair, Hyundai Motor Group. “As we look to the future, we must focus on pioneering technologies such as AI, robotics, Software Defined Vehicles, electrification, and hydrogen technology. Facilities like the California Proving Ground will be critical to that innovation and will help shape the next 20 years of Hyundai Motor Group, turning challenges into opportunities and setbacks into successes.”
Situated in the middle of the Mojave Desert, the HATCI CPG is a 4,500-acre facility that serves as the center for Hyundai Motor, Kia, and Genesis vehicle evaluation operations in North America. The grounds include a 6.4-mile oval track, 2-million square-foot Vehicle Dynamics Area (VDA), 2.75-mile winding road track, a 3.3-mile hill road, off-road evaluation loops, and various specially surfaced roads exactingly constructed to replicate U.S. highways. Team members at the facility perform full vehicle evaluation, durability, and development testing. Vehicle development operations include activities ranging from ride and handling evaluations to Noise, Vibration, and Harshness (NVH) tests and Heat Protection assessments. The CPG also features three fully equipped garages and a material-weathering facility to accelerate and assess UV degradation. Read More
New solar panel technology involves harvesting power from raindrops
Researchers in China have come up with a way to generate electrical power with solar panels that can harvest energy produced by the rain. It has huge potential to overcome the biggest challenge of current solar power systems, which is their inability to function when the sun doesn’t shine. When raindrops fall from the sky and land, they generate a tiny amount of energy that could make a significant contribution to output if collected on a large scale. This new technology out of China is a small-scale version of a hydropower system, drawing on the kinetic power of moving water to generate electrical energy. Researchers aim to develop this as a potential source of renewable electricity to contribute to solar power systems, but its unsuitability for application in large-scale projects to date is a major challenge to overcome.
The raindrop energy collection system works via a device called a triboelectric nanogenerator (TENG), which uses liquid-solid contact electrification to harvest kinetic energy. The same technology can be applied to waves and other forms of liquid-solid triboelectric power systems, but there’s a limitation in connecting these panels, which means reduced output. Read More
Vertical Aerospace has successfully completed the second stage of piloted thrustborne testing of its full scale VX4 prototype. The company is now preparing for a new chapter in its history, with the VX4 entering the penultimate phase of flight testing: wingborne flight. This phase will mark a defining moment in the VX4’s development, pushing beyond the limits of the secure airspace of Cotswold Airport’s airfield and into real-world operating conditions for the first time.
During Phase 2, the aircraft completed over thirty piloted test flights. Flight tests included completing successful hover and low speed flight manoeuvres, as well as executing handling and performance procedures including roll, yaw, and spot-turns. Engineers were able to collect hundreds of data points to determine the reliability of the aircraft systems, as well as thrust levels, lift efficiency, and power-to-thrust ratio and control responsiveness. These piloted prototype flights experienced no system failures and exceeded expectations for stability and performance. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $71.73 | Down |
| Crude Oil (Brent) | USD/bbl | $75.53 | Down |
| Bonny Light 06/02/25 CBN | USD/bbl | $76.86 | — |
| Dubai | USD/bbl | $79.00 | Up |
| Natural Gas | USD/MMBtu | $3.54 | Up |
| Murban Crude | USD/bbl | $77.95 | Down |
| OPEC basket 11/02/25 | USD/bbl | $78.31 | Up |
Evolito will provide their state-of-the-art D250 electric propulsion motor for the LCA60T airship, which is due to make its debut test flight in 2027. The LCA60T is 200 meters long and has been designed to transport exceptionally heavy loads of up to 60 tonnes. Flying Whales’ airships are designed to provide a unique solution for transporting heavy and oversized cargo, especially in regions with limited infrastructure.
By utilizing Evolito’s advanced motors, Flying Whales aims to create a more efficient and environmentally sustainable mode of transport, contributing to the reduction of greenhouse gas emissions and promoting greener logistics practices worldwide.Flying Whales selected Evolito’s D250 electric motor for its airship because of its exceptional power and torque density. Each airship will be powered by 32 D250 motors. Another critical factor for Flying Whales in their choice of electric motor partner was Evolito’s ability to scale production to deliver the quantity of electric motors required to meet Flying Whales’ production forecast.. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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