Global Energy and Automotive News, Trends & Expert Analysis
London, May 01, 2025 (Oilandgaspress) –- Kuwait has launched a crackdown on cryptocurrency miners it accuses of being a “major” cause of a power crisis that has led to blackouts, as authorities seek to ease pressure on the grid before the start of a sweltering summer.
Authorities started a “wide-ranging” security operation last week, the interior ministry said in a statement, targeting homes used for cryptocurrency mining, an activity it said was illegal.. . Read Related News (Reuters) –
Our support for schools in areas of high economic deprivation has helped them save tens of thousands of pounds on their energy bills and cut carbon emissions. We have provided finance for them to install roof-top solar panels to generate clean electricity as part of a five-year commitment to spend £2.7 million helping schools reach net zero goals.
This has resulted in the schools saving £56,000 on their energy bills so far, as well as 55,571 tonnes of CO2 – equivalent to 142 million miles driven by an average sized petrol car.
The savings are the result of a partnership launched a year ago with Solar for Schools to provide grants and guidance, and so far seven schools in the Midlands have benefited, including Wallbrook Primary School in Dudley and Birmingham’s Shireland Collegiate Academy.
One of the first to adopt solar with a 49.8kWp system was Ark Kings Academy in Birmingham, which has saved nearly £14,000 on its energy bills and prevented 10 tonnes of CO2 emissions. Energy bills tumble as a result of Solar for Schools partnership
Occidental announced today that its Board of Directors declared a regular quarterly dividend of $0.24 per share on common stock, payable on July 15, 2025, to stockholders of record as of the close of business on June 10, 2025.. Occidental Announces Dividend
Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy leader, and OMV, Austria’s integrated chemicals, fuels and energy company, have signed an agreement to partner in the production of green hydrogen, synthetic sustainable aviation fuel (eSAF), and other sustainable products.Representatives for Masdar and OMV signed in Vienna a non-binding Letter of Intent (LOI) to collaborate on future opportunities in Austria, the UAE and in Central and Northern Europe. Both companies aim to explore potential avenues to develop and produce synthetic sustainable aviation fuel, other synthetic fuels and synthetic chemicals. Masdar and OMV Advance Partnership on Green Hydrogen Development
OMV announced the successful start-up of its 10 megawatts green hydrogen production plant, located at the Schwechat refinery near Vienna, the largest of its kind in Austria. Approximately EUR 25 million have been invested in the facility, which has the capacity to produce up to 1,500 metric tons of green hydrogen per year. The green hydrogen will be used to produce more sustainable fuels and chemicals, including sustainable aviation fuel (SAF) and renewable diesel (HVO). OMV’s new 10 megawatts polymer electrolyte membrane (PEM) electrolyzer is powered entirely by renewable electricity generated from wind, hydro, and solar. This innovation leads to an annual savings of up to 15,000 metric tons of CO2 emissions* equivalent to the CO2 consumption of 2,000 persons per year**.
Aligned with European climate targets, OMV has set itself the goal of becoming net zero by 2050 at the latest. This will be supported by flagship transformation projects in areas such as geothermal energy, sustainable aviation fuel, and the chemical recycling in the chemical sector. A central component of this transformation is the production and use of green hydrogen, generated through electrolysis, to support the production processes at refineries. OMV unveils Austria’s largest green hydrogen production plant
OMV announced its results for the first quarter of 2025,1 with stable Group Sales revenues of EUR 6.2 billion, a Clean CCS Operating Result of EUR 1.16 billion, and Clean CCS Net Income attributable to stockholders of EUR 413 million. Cash Flow from Operating Activities was EUR 1.36 billion. The Clean Operating Result of the Chemicals segment was EUR 126 million. The contribution of the Fuels & Feedstock segment stood at EUR 117 million, while the Energy segment came in at EUR 910 million. The Clean CCS Earnings per share were EUR 1.26. OMV’s balance sheet remains strong, with net debt amounting to EUR 3.2 billion and a low leverage ratio of 12 percent at the end of March 2025. . . OMV generates stable Group Sales of EUR 6.2 bn in Q1 2025
Repsol announced that it will be joining forces with Stonepeak as its first partner in a portfolio of renewable assets in the United States. Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, has agreed to invest $340 million to acquire a 46.3 percent stake from Repsol in a 777 MW operating solar and storage portfolio located in New Mexico and Texas. Together with the $60 million in tax equity previously raised (through Investment Tax Credits, ITC), this transaction values the portfolio of solar plants and batteries at approximately $795 million.
The portfolio includes the Frye solar project and the Jicarilla solar and storage complex. Completed in 2024 and located near the town of Kress in Swisher County, Texas, Frye represents Repsol’s largest photovoltaic plant in operation to date with an installed capacity of 632 MW. The Jicarilla solar and storage complex is located in Rio Arriba County, New Mexico, and has an installed solar capacity of 125 MW and a battery storage project of 20 MW / 80 MWh. All of the projects have entered into long-term revenue contracts as part of the multi-energy company’s strategy to ensure the long-term profitability of the portfolio.
With this transaction, Repsol is advancing the optimization of the financial structure of its renewable business with partners joining the assets to maximize value generation.. Repsol allies with Stonepeak on solar and storage portfolio
Repsol posted net income of €366 million in the first quarter of the year, 62.2% lower than in the same period last year. The adjusted income, which specifically measures the performance of the businesses, stood at €651 million (48.6% lower than in the first quarter of 2024).
These numbers, in line with the annual guidance, were achieved in a global context marked by uncertainty and geopolitical and commercial tensions, as well as volatility in the energy markets, with Brent crude prices declining – averaging $76 per barrel in the quarter – and reduced refining and chemical margins. In this environment, the company’s integrated model once again demonstrated its resilience, allowing Repsol to perform solidly.
The adjusted income of the Upstream business reached €458 million between January and March, 3.6% higher than in the same period last year, with total production of 540,000 barrels of oil equivalent per day (boed). Meanwhile, the adjusted income of the Industrial business fell to €131 million, impacted by low refining and chemical margins. The Customer area recorded a 2.6% increase, reaching €160 million, driven by the multi-energy strategy. In the first quarter, Repsol continued to strengthen its solid financial position. Liquidity stood at €8.497 billion (including undrawn committed credit lines), representing 2.6 times the short-term gross debt maturities. Confidence in the company’s business management has also been made evident with the recent confirmation of Repsol’s current credit ratings by the main rating agencies in the market. With all of this, Repsol continued to move forward in the implementation of its 2024-2027 Strategic Update that focuses on a profitable energy transition, attractive shareholder remuneration, and maintaining financial strength. Repsol posts net income of €366 million in the first quarter 2025
Ørsted has completed a farm-down for a 24.5% stake in West of Duddon Sands Offshore Wind Farm to funds managed by Schroders Greencoat.
The value of the transaction is GBP 456.1 million (approx. DKK 4 billion) on a debt-free basis. The transaction closed on 30 April 2025.
Located approximately 14 km off the UK west coast, West of Duddon Sands has been operating since 2014 and has a capacity of 389 MW.
Schroders Greencoat is a leader in renewable infrastructure asset investments with a combined net generating capacity of over 7 GW and GBP 9.6 billion assets under management. This transaction builds on a strong collaboration between Ørsted and Schroders Greencoat who is also an existing partner on four Ørsted offshore wind farms Walney, Burbo Bank Extension, Hornsea 1, and Borkum Riffgrund 1.
With this transaction, Ørsted continues to deliver on its partnership and divestment programme as part of securing a robust capital structure, diversifying risk, and recycling capital. Ørsted will retain a 25.5%, pro-rata consolidated interest in West of Duddon Sands and will remain the operator under the existing operations and maintenance agreement. Based on a self-funded business plan, Ørsted is executing a more than 8 GW offshore wind construction programme, which will almost double the company’s installed offshore wind capacity and solidify Ørsted’s position as the global leader in offshore wind. Ørsted divests 24.5% stake in West of Duddon Sands Offshore Wind Farm
National Grid plc (“National Grid”), a leader in energy networks, is pleased to announce the appointment of Zoë Yujnovich as its next Chief Executive. She will succeed John Pettigrew who, after almost 10 years in post, has decided to retire from his role effective 16 November 2025.
Following a comprehensive succession planning process both the Board and John believe it is the right time to transition leadership at National Grid. Zoë’s proven track record makes her ideally qualified to guide National Grid into its next phase of growth.
Zoë will join from Shell plc (“Shell”) where she was, until recently, Integrated Gas and Upstream Director and a member of the Executive Committee. Prior to Shell, Zoë held a number of progressively senior roles at Rio Tinto, including President and Chief Executive of the Iron Ore company of Canada. She has recently joined the board of Unilever plc as a Non-Executive Director.
Zoë will join the National Grid Board as Chief Executive Designate on 1 September 2025 and will be appointed Chief Executive on 17 November 2025. John will retire from the Board of Directors and his role as Chief Executive on 16 November 2025, enabling a seamless transition and orderly handover of responsibilities. National Grid plc announces Chief Executive Succession Plan
Five Audi models have earned spots on an updated list of suggested vehicles for teens from the Insurance Institute for Highway Safety (IIHS) and Consumer Reports (CR), including the Audi Q4 e-tron, A3, A6, Q3 and Q5. The annual list of teen vehicles, which CR and IIHS has produced jointly since 2020, is intended to help families prioritize safety while maintaining a budget. The recommended vehicles are selected using a host of criteria including standard safety-enhancing features, IIHS crash-testing scores, braking and handling performance, ease of operability, and Kelly Blue Book estimated starting prices.
All of the recommended vehicles have earned “Good” ratings in five IIHS tests: original moderate overlap front, original side, driver-side small overlap front, roof strength and head restraints. Models in the top tier of used vehicles, designated as Best Choices, come with headlights that earn a good or acceptable rating from IIHS across all trim levels, along with standard automatic emergency braking (AEB) that performs well in IIHS track tests. They also have average or better scores from CR for braking and for emergency and routine handling (scoring at least 3 out of 5) and CR usability scores for controls and displays of at least 2 out of 5.
The Audi vehicles making the updated list include:
Best Choices – starting under $20,000
MIDSIZE SUVS: Audi Q4 e-tron (2022 or newer)
Good Choices – starting at $10,000 or less
MIDSIZE CARS: Audi A3 (2015 or newer)
LARGE CARS: Audi A6 (2016 or newer; only vehicles built after January 2015)
SMALL SUVS: Audi Q3 (2015 or newer)
MIDSIZE SUVS: Audi Q5 (2015 or newer; only vehicles built after January 2015). Audi models make updated list of suggested vehicles for teens
Lamborghini will participate as a main partner at DreamHack Dallas, taking place from May 23rd to 25th at the Kay Bailey Hutchison Convention Center. DreamHack, organized by ESL FACEIT Group (EFG) — the leading esports and video game entertainment company — is recognized as the world’s largest gaming lifestyle festival. As the only automotive brand present at the event, Automobili Lamborghini will deliver a high-octane brand experience that blends the thrill of virtual racing with cutting-edge Web3 activations. This milestone marks Automobili Lamborghini’s bold entry into the gaming space, offering fans a one-of-a-kind opportunity to experience the brand at the intersection of performance, innovation, and digital culture… Lamborghini makes its first-ever appearance at DreamHack Dallas
Volkswagen Financial Services (VWFS), the captive financial services arm of Volkswagen Group of America, and Wells Fargo (NYSE: WFC) today began their multi-year co-branded agreement under which Wells Fargo serves as the preferred purchase financing provider for the Volkswagen (VW) and Audi brands in the U.S. market. This new relationship will also support the Ducati brand beginning in April 2026. VWFS will continue to service retail finance contracts it originated prior to the launch date with Wells Fargo.
Volkswagen Financial Services continues to lead the customer experience in the U.S. market with Volkswagen, Audi, and Ducati brand partners and dealers. Under this agreement, VWFS will continue to focus on consumer leasing and usage-based products, including mobility solutions, supporting Volkswagen Group’s growth strategy in the U.S. Volkswagen Financial Services U.S. and Wells Fargo launch agreement for purchase financing of Volkswagen and Audi vehicles in the United States.
Sunrun (Nasdaq: RUN), the nation’s leading provider of clean energy as a subscription service, announced today that its CalReady power plant has more than quadrupled in size as the summer heat begins to stress the state’s energy grid. More than 56,000 Sunrun customers’ solar-plus-battery systems—totaling approximately 75,000 batteries—will provide critical energy to California’s grid during times of high energy prices, heat waves, and other grid emergency events while simultaneously lowering energy costs for all ratepayers.Sunrun’s CalReady power plant is the largest home storage aggregation in the California Energy Commission’s Demand Side Grid Support program. CalReady is available to support the state’s grid each day from 4 to 9 p.m. from May through October. This is the second year that Sunrun has operated CalReady as the nation’s largest virtual power plant.. Sunrun’s Distributed Power Plant Quadruples in Size
Baker Hughes Rig Count: U.S. +2 to 587 Canada -6 to 128
U.S. Rig Count is up 2 from last week to 587 with oil rigs up 2 to 483, gas rigs up 1 to 99 and miscellaneous rigs down 1 to 5.
Canada Rig Count is down 6 from last week to 128, with oil rigs down 6 to 81, gas rigs unchanged at 47 and miscellaneous rigs unchanged at 0.
| Region | Period | Rig Count | Change |
| U.S.A | 26 April 2025 | 587 | +2 |
| Canada | 26 April 2025 | 128 | – 6 |
| International | March 2025 | 899 | -6 |
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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