Global energy ,Automotive industry News Roundup and Analysis
London, December 02, 2024 (Oilandgaspress) –- Global oil markets now shift its attention to the upcoming OPEC+ meeting on Dec. 5, where the bloc is set to discuss its output policy for 2025.
The Kia Telluride has once again been recognized as a segment leader by the J.D. Power 2025 U.S. ALG Residual Value Awards, this time claiming the top spot in the Midsize SUVs with 3-row seating category for the fourth consecutive year. This accolade highlights the Telluride’s enduring value, brand appeal, and competitive edge, adding to its remarkable track record of industry recognition.
“The Kia Telluride’s reputation as a highly sought-after and awarded SUV continues to grow, solidifying its place as a standout in its segment,” said Steven Center, COO and EVP, Kia America. “Kia doesn’t stand still – we have continually reinvested in the Telluride over its lifecycle with significant product improvements, and this dedication contributes to its long-term value and recognition, as demonstrated by this fourth consecutive honor from J.D. Power’s ALG Residual Value Awards.” The U.S. ALG Residual Value Awards are the automotive industry standard in recognizing vehicle models projected to hold the highest percentage of their manufacturer’s suggested retail price following a three-year period of ownership. This value retention is a key variable in the lease cost of a vehicle, underscoring an automaker’s success in the areas of long-term quality and design, as well as the overall desirability of automotive brands and their models. Read More
The Balenciaga | Automobili Lamborghini collaboration, debuting in the Balenciaga Fall 25 collection, celebrates a shared commitment to cutting-edge innovation, blending automotive aesthetics with the House’s codes.
Founded by Spanish-born couturier Cristóbal Balenciaga in 1917 and established in Paris in 1937, Balenciaga revolutionized modern couture with innovations in form and technique. Since 2015, under the artistic direction of Demna, the house has continued to redefine luxury through boundary-pushing collections. Today, Balenciaga encompasses women’s and men’s ready-to-wear, accessories, and objets d’art, seamlessly blending its storied heritage with cutting-edge modernity. On December 2, Balenciaga will unveil an Exclusive Release from the collaboration—a white, boxy, long-sleeve t-shirt featuring the 2025 Lamborghini Temerario, the company’s second hybrid super sports car. Limited to 630 pieces worldwide, it will be available in select Balenciaga stores and on Balenciaga.com. The exclusive release serves as a teaser for the complete Balenciaga | Automobili Lamborghini collaboration, which includes leather bombers, racing jackets, t-shirts, sweatpants, jewelry, travel mugs, and new versions of Balenciaga’s iconic Rodeo and Hourglass bags, adorned with the Shield emblem, leather luggage tags, and clochettes. Inspired by Automobili Lamborghini’s automotive iconography and lines, the collaboration builds on the House’s continual exploration of streamlined, supercar-inspired designs, which have informed some of its most distinctive footwear and apparel. Read More
130 Lamborghinis took over streets of Tokyo for the 2024 edition of Lamborghini Day Japan. The traditional parade of cars through specially closed roads in the capital city concluded at the National Stadium in Shinjuku that hosted the 2020 Olympic games, providing a fitting background not only for the finale of Lamborghini Day Japan but also the Asia Pacific premiere of the Temerario[1]. Lamborghini owners, media and enthusiasts from Japan, Asia Pacific and even European regions, gathered to witness the unveiling of Lamborghini’s new plug-in hybrid High Performance Electrified Vehicle (HPEV), the Temerario. Automobili Lamborghini Chairman and CEO Stephan Winkelmann lifted the flag for the parade’s start at the Tokyo Prince Hotel in Minato ward, which cruised through Roppongi, Omotesando and Harajuku before arriving at the National Stadium.The presentation of the Temerario to over 500 guests saw Automobili Lamborghini board members join Stephan Winkelmann in Tokyo, including Design Director Mitja Borkert and Product Line Director Paolo Racchetti. Read More
Nissan is on the brink of collapse follows a brutal few years at the carmaker, which has been battered by leadership chaos, strategy failings and fierce competition from Chinese rivals. Like many global automakers, the Japanese giant is struggling in China where local manufacturers are gobbling up market share with affordable EVs and hybrids that boast advanced technology.
But Nissan’s bigger problem may be in the United States, where it lacks a credible line-up of hybrid cars in the face of growing consumer demand. The Japanese auto firm, which employs 7,000 people in the UK – including 6,000 at its flagship plant in Sunderland – has embarked on a huge cost-cutting programme after suffering heavy losses. Chief executive Makoto Uchida is taking a 50 per cent pay cut and it has now been reported that chief financial officer Stephen Ma is stepping down. Read More
JLR has made a significant technical breakthrough in the closed‑loop recycling of polyurethane seat foam from its used vehicles by successfully reintegrating it back into the production of new seats. In collaboration with Dow’s MobilityScience™ material innovations and global leader in automotive seating Adient, this is the first time closed‑loop seat foam content has been successfully used in automotive production.
Luxury vehicle manufacturer JLR is now putting the material through its full production process aiming to test its use at scale in pre‑production vehicles early next year. Polyurethane foams are known to be challenging when it comes to recycling and are designed for durability, meaning they end up in landfill and can remain in the environment for several generations. By creating a closed‑loop supply chain, JLR will be able to reduce emissions, eliminate waste and enable a secure supply of low carbon seat foam for its vehicles.
The recycled foam will be one element to a new ‘circular seat’ that it is estimated will half CO2e emissions impact while maintaining high performance, avoiding over 44kg of CO2e per seat, the equivalent of charging almost three thousand smartphones2. Read More
Jaguar’s new concept car signalling the design direction for its controversial electric-only rebrand has been leaked hours before it is due to be officially unveiled. With the images doing the rounds on social media, people have already likened the car’s colour and extended body to Lady Penelope’s FAB1 from Thunderbirds. Pictures of the futuristic GT car, dubbed the ‘Design Vision Concept’ ahead of its full reveal at Miami Art Week at 1am UK time, have been shared on online forums – and featured by major UK motoring publications Autocar and Auto Express.. Read More
Dana Incorporated (NYSE: DAN) announced today it will participate in the UBS Global Industrials and Transportation Conference on Dec. 4, 2024. Beginning at 12:10 p.m., EST, Dana’s Senior Vice President and Chief Financial Officer, Timothy Kraus, will provide a brief overview of the company and answer questions for approximately 40 minutes. Read More
The German Navy has just completed operational trials in the Baltic Sea for IAI’s BlueWhale autonomous submarine, together with NATO and Atlas Elektronik, a maritime hi-tech firm. Tests examined intelligence gathering and target acquisition capabilities above and below water, in preparation for the Marine 2035 framework. The submarine is 10.9 meters in length and weighs 5.5 tons. It is equipped with advanced sensors, sonar systems and a telescopic mast that facilitate real-time transfer of information.
The trials demonstrated the technological effectiveness of integrating unmanned vessels in the military response to future threats. Just as unmanned vehicles have changed aerial warfare, new submarine technology is poised to change warfare at sea. After the agreement to supply the Arrow missile defense system, we are now pleased to further deepen military cooperation between Israel and Germany, enhancing the defense capabilities of both countries. Read more
Saudi Arabia’s oil exports to Asia rose in November, while Russia’s crude sales in the world’s most important oil-importing region fell amid lower purchases by Moscow’s two key markets, China and India. Recovering Asian refining margins, a decline in the premium of the Dubai benchmark to Russia’s Urals, and rising shipping costs for Russia’s crude helped Saudi Arabia boost its crude oil supply to Asia by 550,000 barrels per day (bpd) in November, according to data from LSEG Oil Research cited by Reuters’s columnist Clyde Russell.
Saudi crude oil exports to Asia jumped to 5.83 million bpd last month, up from an estimated 5.28 million bpd in October. Read More
Saturday marked the eighth anniversary of the landmark ‘Vienna Agreement’ reached at the 171st Meeting of the OPEC Conference held on 30 November 2016 in Vienna, Austria. The historic agreement built on the landmark ‘Algiers Accord’, which was endorsed at the 170th (Extraordinary) Meeting of the OPEC Conference on 28 September 2016 in Algiers, Algeria, and paved the way for adopting the historic ‘Declaration of Cooperation’ (DoC) between OPEC Member Countries and several non-OPEC oil-producing nations in Vienna on 10 December 2016 to support oil market stability. On this occasion, HE Haitham Al Ghais, Secretary General of OPEC, said: “The ‘Vienna Agreement’ constitutes a significant milestone in the history of the oil industry, as its adoption facilitated establishing a robust, multilateral platform for collaboration and dialogue with the objective to support stability in the global oil market – the ‘Declaration of Cooperation’.”
“Eight years later, these efforts continue to prove to be effective and valuable, as they have helped overcoming several market instabilities, including the downturn that resulted from the outbreak of COVID-19,” HE Al Ghais added.
OPEC Member Countries and non-OPEC oil-producing countries participating in the DoC endeavour to support market stability for benefit of all industry stakeholders, including producers, consumers and investors, as well as the global economy at large. These efforts also underpin the Organization’s views on the importance of multilateralism, international cooperation and dialogue. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $68.32 | Down |
| Crude Oil (Brent) | USD/bbl | $72.14 | Down |
| Bonny Light 02/12/24 CBN | USD/bbl | $74.53 | Down |
| Dubai | USD/bbl | $72.60 | — |
| Natural Gas | USD/MMBtu | $3.26 | Up |
| Murban Crude | USD/bbl | $71.70 | Down |
| OPEC basket 29/11/24 | USD/bbl | $72.45 | Down |
Oil and Gas News Undiluted !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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