Global energy ,automotive news, commentary and analysis
London, January 07, 2025 (Oilandgaspress) –-Oil prices saw an uptick on Tuesday, reversing earlier declines, as concerns about tighter supply from Russia and Iran—stemming from escalating Western sanctions—helped bolster market sentiment. These sanctions have intensified fears of supply shortages, particularly from these two key producers. The supply tightness is further accentuated by stronger demand for Middle Eastern oil, with Saudi Arabia increasing its oil prices for February shipments to Asia as a response to these market dynamics. Additionally, colder-than-usual weather in both the U.S. and Europe has increased demand for heating oil, providing an additional support to prices. These factors combined are driving the market towards a more bullish outlook.
Weaker oil demand growth in key consuming regions and reshuffled trade routes resulted in 2024 in the first decline in the world’s crude oil exports since the 2020-2021 pandemic-influenced slump, Reuters reported on Tuesday, citing ship-tracking data.
Global crude exports declined by 2% last year to 41.68 million barrels per day (bpd), down from 42.51 million bpd in 2023, according to data from Kpler cited by Reuters. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $74.06 | Up |
| Crude Oil (Brent) | USD/bbl | $76.92 | Up |
| Bonny Light 06/01/25 CBN | USD/bbl | $77.88 | Up |
| Dubai | USD/bbl | $73.23 | — |
| Natural Gas | USD/MMBtu | $3.61 | Down |
| Murban Crude | USD/bbl | $77.04 | Up |
| OPEC basket 06/01/25 | USD/bbl | $76.18 | Up |
Plenitude has expanded its installed capacity from renewable sources in Spain by 400 MW, reaching nearly 950 MW of photovoltaic and wind power projects, more than double compared with 2023.In particular, Plenitude has recently completed the installation of 150 MW of the Caparacena project in Granada, consisting of three photovoltaic plants nearly accounting for 50 MW capacity each. The electricity connection to the national transmission grid is ensured by a 400 kV substation, the construction of which has just been completed, and another 200 kV substation and line shared with other operators.Moreover, Plenitude also completed the construction of other plants totalling nearly 250 MW in the solar parks of Renopool, in Extremadura, and Guillena, in Andalusia. Thanks also to these operations, the company has reached its target of 4GW of installed capacity globally in 2024. “During 2024 Plenitude has registered significant organic growth in Spain with the completion of several renewable projects realized also thanks to the good relationships we have developed locally. Spain is a strategic country for our company and we want to have a positive impact in the areas where we operate, not only economically, but also on the communities that host us” said Mariangiola Mollicone, Head of Western Europe Renewables and Managing Director of Plenitude in Spain. .. Read More
Hyundai Motor Company and Kia Corporation’s global open innovation platforms, ZER01NE and Hyundai CRADLE, participate in CES 2025 from January 7-10, 2025. This joint exhibition highlights Hyundai Motor and Kia’s commitment to empowering ZER01NE and CRADLE worldwide.
ZER01NE VENTURES, Hyundai Motor and Kia’s Creative Talent Platform, identifies and fosters collaborations with visionary startups to develop innovative solutions addressing societal challenges. Over the past seven years, it has invested in 107 startups through ZER01NE Fund I/II combined and executed 144 collaborative projects as of the first half of 2024. Since its inception in 2000, ZER01NE has spun off 36 in-house ventures.
Hyundai CRADLE, Hyundai Motor Group’s global open innovation hub, operates in Silicon Valley, Tel Aviv, Berlin, Beijing, and Singapore, leveraging the technological strengths of each region to identify and invest in emerging innovative startups. To date, CRADLE has executed 141 projects and made 46 investments.
Marking its third consecutive appearance at CES following 2023 and 2024, ZER01NE VENTURES returns alongside CRADLE. ZER01NE and CRADLE present innovations from 10 global startups spanning future mobility, AI, robotics, and sustainable materials.The exhibition at CES 2025 features demonstrations of cutting-edge technologies from the 10 participating startups and introductions to ZER01NE and CRADLE. Key highlights include the CRADLE-Startup Panel Discussions, in-booth sessions featuring exhibiting ZER01NE portfolio startups and CRADLE representatives, designed to expand global engagement and explore synergistic opportunities within the open innovation ecosystem. Read More
Hyundai Motor Group (the Group) today held its annual New Year’s Address, with Executive Chair Euisun Chung outlining the Group’s focus for 2025: overcoming challenges through a commitment to innovation, embracing change, and further strengthening teamwork.
Held at Hyundai Motorstudio Goyang, near Seoul, this year’s event adopted a new format to drive in-depth dialogue among attendees, discussing the global business environment for the year ahead and the Group’s strategic direction.
Hyundai Motor Group Executive Chair Euisun Chung, Group Vice Chair Jaehoon Chang, Hyundai Motor President CEO José Muñoz, Presidents Sung Kim and Changhyeon Song, Kia President and CEO Ho Sung Song, Hyundai Glovis CEO Kyoo Bok Lee, Hyundai Capital CEO Jung Hyung-jin and Hyundai Engineering & Construction Vice President and CEO Hanwoo Lee all took questions from the audience of more than 200 employees, plus many more watching globally on the Group’s livestream.
Executive Chair Chung began by thanking Hyundai Motor Group employees around the world. “We achieved a lot last year,” he said. “These achievements were the result of your tireless efforts to deliver the quality, trust and experience our customers expect. I extend my deepest gratitude to you all.”
He continued by emphasizing the importance of facing both internal and external challenges over the year ahead, as well as the potential for global growth across the Group’s operations by overcoming adversity through its commitment to innovation, further strengthening teamwork, and a proactive approach to creating future opportunities.
“Innovation is in Hyundai Motor Group’s DNA. If we continue to embrace change and pursue innovation, we can overcome any test or difficulty we may face,” said Executive Chair Chung.
With geopolitical uncertainties, shifts in the global economy, evolving consumer preferences, technological evolution in the mobility industry, emerging competitors, and the accelerating pace of innovation, 2025 will be a year of complex global dynamics. . Read More
Hyundai’s all-electric IONIQ 5 N SUV has been named Motor Authority’s Best Car to Buy 2025. The driving enthusiasts at Motor Authority selected IONIQ 5 N as the winner from all new or redesigned luxury and performance vehicles made available to their testing staff. Motor Authority’s team declared 5 N the victor after assessing the vehicle’s performance factors including acceleration, handling, styling, features, and value (although the award criteria have no price limit). In the end, the IONIQ 5 N was judged to have the strongest appeal to enthusiasts.
“It’s a great honor for the IONIQ 5 N to be named Motor Authority’s ‘Best Car to Buy 2025,’” said Olabisi Boyle, senior vice president of product planning and mobility strategy at Hyundai Motor North America. “The IONIQ 5 N is a true high-performance beast. With features like N e-Shift and N Grin Boost, 5 N redefines engagement and driving fun for the electric age.”
Performance and luxury brand Motor Authority says, “Our team had big-time fun and posted some hot lap times in the IONIQ 5 N,” said Marty Padgett, Editorial Director of The Car Connection, Motor Authority, and Green Car Reports. “The IONIQ 5 N proves that electric-car drivers can excel on the racetrack, too. Sorry about the tires.” Read More
Hyundai’s Santa Fe Hybrid SUV has been awarded The Car Connection’s Best Car to Buy 2025. The Car Connection’s expert editors chose the Hyundai Santa Fe Hybrid from a crowded field of new or fully redesigned contenders. The Santa Fe Hybrid achieved top scores in The Car Connection’s unique “TCC Rating” system, evaluations awarded on a 10-point scale given to each vehicle across six categories: safety, comfort and utility, fuel economy, performance, technology, and styling.
“It’s rewarding for our popular Santa Fe Hybrid SUV to be named the Car Connection’s Best Car to Buy 2025,” said Olabisi Boyle, senior vice president, product planning and mobility strategy, Hyundai Motor North America. “With standard three-row seating, outstanding efficiency and a generous compliment of advanced technologies, our new Santa Fe Hybrid is proving its appeal to more families and lifestyles than ever before.”
“Hyundai continues to set a high bar for three-row SUVs with its latest Santa Fe,” said Marty Padgett, Editorial Director of The Car Connection, Motor Authority, and Green Car Reports. “The Santa Fe Hybrid offers something for the driver who needs it all—space, efficiency, and style.” Read More
Nissan Formula E Team is primed for the second round of the 2024/25 ABB FIA Formula E World Championship this weekend at the Mexico City E-Prix. Following the opening event in São Paulo, which saw the squad fight at the front with both Oliver Rowland and Norman Nato demonstrating excellent speed throughout the weekend, the duo is set to get back to work in the motorsport-loving nation.
Having debuted in Season 2, the Mexico City E-Prix is a recurring fixture in the Formula E calendar, being held every year at the Autódromo Hermanos Rodriguez apart from 2021. The event presents a rare challenge to all involved, being situated 2,250 meters above sea level, the highest altitude circuit Formula E travels to on the 2024/25 calendar.
One of the most visited tracks in Formula E history, the venue offers a unique experience, with the stunning stadium section engulfing the cars in crowd cheers as they navigate their way through the tricky Turns 13-18, before being launched onto the long start/finish straight.
Nissan has a rich history in Mexico, having operated there for more than 60 years. The company established its first manufacturing plant outside Japan in the country back in 1966. Over 14 million vehicles have been produced in Mexico, with more than 15 million engines also being made, for both local and international markets. The company sold more than 240,000 cars in the country in 2023, equaling a huge 17.7% of the market share, more than any other brand.
Track action begins on Friday at 17:00 (UTC-6), with qualifying at 09:40 on Saturday ahead of the race at 14:00. Read More
Toyota Motor Corporation (TMC) provided an update on Woven City at CES 2025.Presenter
Akio Toyoda, Chairman of the Board of Directors (Representative Director), Toyota Motor Corporation
CES 2025 Press Conference Akio Toyoda Remarks
Five years into development, Toyota Woven City, Toyota’s test course for mobility, takes shape Read More
Energy prices are driving inflation higher
According to the flash estimate, eurozone HICP inflation increased to 2.4% in December from 2.2% in November, while core inflation stabilised at 2.7%. Examining the drivers of the higher inflation rate, it’s important to note that the downward impact of energy prices is now petering out. While energy prices declined by 6.1% year-on-year in September and by 4.6% in October, the decline was only 2% in November, moving to a positive inflation rate of 0.1% in December. This upward trend isn’t over yet. Natural gas prices are now more than 50% higher than a year ago, and oil prices are no longer falling. As such, energy will be a significant upward risk to inflation in the first quarter.
Unprocessed food price inflation was 1.7% in December. Agricultural commodity prices, which declined significantly in 2024, are now rising again year-on-year. This suggests that food prices will contribute less to the disinflationary process in 2025.
Goods inflation remains relatively low at 0.5%, the fifth consecutive month that it has hovered close to that level. However, the impact of a potential trade war remains a significant unknown. . Read More
Xpeng Motors Co., Ltd. , a leading Chinese smart electric vehicle and Volkswagen Group China announced that they have reached a strategic cooperation in the field of domestic ultra-fast charging networks and signed a Memorandum of Understanding (“MOU”). According to the consensus reached in the memorandum of understanding, Xpeng Motors and Volkswagen Group (China) will open their proprietary ultra-fast charging networks to each other and work together to build China’s largest ultra-fast charging network for customers . Through this strategic cooperation, Xpeng Motors and Volkswagen Group (China) will provide customers with an ultra-fast charging network with more than 20,000 charging terminals covering 420 cities in China . Combining the technical advantages of both parties in the field of high-power liquid-cooled ultra-fast charging and the high degree of complementarity in domestic network coverage , customers of both parties will be able to enjoy a superior fast charging experience across the country .
In order to further accelerate the expansion of the charging network and enhance the synergy of the construction of their respective charging networks, the two parties will also explore joint cooperation in building jointly-branded ultra-fast charging stations.
This strategic cooperation is the fourth milestone in the long-term strategic cooperation between Xpeng Motors and Volkswagen Group. The two parties plan to further explore strategic cooperation opportunities, expand technical cooperation, and strengthen a mutually beneficial and win-win strategic partnership. Read More
Volkswagen of America, Inc. is proud to announce the all-electric Volkswagen ID. Buzz, the spiritual successor to the iconic microbus, has been named as Green Car Reports’ Best Car To Buy 2025.
“Like the Microbus, the ID. Buzz is simply iconic. The ID. Buzz is supercharging excitement for the Volkswagen brand, and I’m humbled to see the thumbs up and waves you get whenever you’re behind the wheel,” said Andrew Savvas, Chief Sales & Marketing Officer of Volkswagen of America. “The ID. Buzz is more than just a vehicle, it’s an experience that delivers more smiles per mile.”
Green Car Reports evaluates vehicles based on its assessment of a vehicle’s environmental impact, efficiency, and market influence. In Green Car Reports’ view, the ID. Buzz excelled in all three categories, highlighting Volkswagen’s commitment to combining sustainability with exceptional design and functionality. The ID. Buzz comes with a three-year charging plan from Electrify America, including three years of the Electrify America Pass+ membership with Plug&Charge and 500 kWh of complimentary charging. Pass+ members save about 25% compared to the Electrify America Guest and Pass member base charging rate.
Pricing for the ID. Buzz starts at $59,995 MSRP, with a $1,550 destination charge for all models. Read More
Experience RIDEVU in Mercedes-Benz E-Class at CES 2025 starting January 7 in Las Vegas
Sony Pictures Entertainment (SPE), IMAX Corporation,® Mercedes‑Benz and DTS, Inc., a subsidiary of Xperi Inc., today announced that RIDEVU, SPE’s in-car entertainment service, will make IMAX Enhanced® content from Sony Pictures’ library readily available in vehicles, starting in Mercedes-Benz models with latest generation MBUX this summer.
This service enhancement introduces an immersive in-car entertainment experience, bringing the largest catalogue of IMAX Enhanced movies from Sony Pictures’ library like ‘Venom: The Last Dance’, ‘Spider-Man: No Way Home’ and ‘Uncharted’ from home to the car. IMAX Enhanced is the only way to experience IMAX’s signature picture and sound outside of a theatre. RIDEVU delivers select IMAX Enhanced films featuring IMAX’s expanded aspect ratio (EAR), IMAX’s proprietary DMR process and DTS:X sound, available in multiple dubbed languages.
SPE’s RIDEVU service is available in the US, Canada, Japan, United Kingdom, Ireland and Germany. The service is fully integrated with select OEMs, including Mercedes-Benz as the first global automotive OEM. It offers access to thousands of movies to buy, rent or stream. Designed for the car, RIDEVU connects Sony Pictures’ movies with its advanced streaming technology to create a first-of-its-kind in-car entertainment experience. With RIDEVU, consumers can enjoy hours of entertainment on built-in screens or brought in iOS and Android devices, use Screen Manager to easily control playback across all screens from the centre screen and entertain passengers with individual or shared viewing experiences on up to six screens. Content can be accessed by the driver (while parked), front and rear seat passengers.
This unique collaboration leverages the strengths of three entertainment pioneers, SPE, IMAX and DTS, realizing their long-standing shared vision of creating elevated, personalised and quality content experiences for consumers, whether in the home or on the go. Read More
Porsche starts off the new racing year with a highlight, the Mexico City E-Prix, the Formula E race with the best atmosphere, held at a venue at which the brand has enjoyed historic success.The TAG Heuer Porsche Formula E Team claimed its first pole position and first win at the Autódromo Hermanos Rodríguez. After the accident at the season opener in São Paulo, world champion Pascal Wehrlein returns to the cockpit of the Porsche 99X Electric – he will be competing using a replacement chassis. Teammate António Félix da Costa heads to the Mexican capital in second place in the table. The man from Portugal secured P2 and the fastest race lap in São Paulo. Read More
Brussels Motor Show returns to Brussels Expo from January 10 to 19 for its 101st edition. PEUGEOT roars with pleasure at the prospect of being present with its entire electric range, the widest of any European generalist carmaker, and with no less than two Belgian premieres: the all-new PEUGEOT E-408 and the PEUGEOT E-3008 Long Range, which offers the best range of any SUV. The PEUGEOT range embodies three essential values: Allure, Emotion and Excellence.
They are reflected in each of our products to guarantee an exceptional customer experience and driving pleasure:
ALLURE: PEUGEOT cars are distinguished by their dynamic, elegant and bold design.
EMOTION: Cars that awaken the senses and provide real driving pleasure.
EXCELLENCE: Quality and performance are at the heart of our preoccupations. reliable, durable and technological models.
In Brussels, PEUGEOT will be present with :
PEUGEOT E-208: The PEUGEOT E-208 impresses with its irresistible looks, driving pleasure and electric performance, with up to 410 km of range,
PEUGEOT E-2008: PEUGEOT’s compact SUV has recently undergone a major evolution. More than ever, it asserts its cheeky, agile character, combining elegance and performance.
PEUGEOT E-308 SW: this station wagon offers an ideal balance between dynamism, resolutely modern design and advanced features, making it a benchmark in its class.
PEUGEOT E-3008: the new PEUGEOT Fastback SUV sets new standards with its next-generation design, its unique Panoramic i-Cockpit® with a 21-inch curved screen for an immersive, high-tech driving experience, and the best electric performance in its segment. At the Show, PEUGEOT is presenting, for the first time in Belgium, the “Long Range” version of the PEUGEOT E-3008, which offers up to 700 KM of range (WLTP combined cycle), the best range on the SUV market. The PEUGEOT E-3008 is the only vehicle in its segment capable of making a Brussels-Lyon trip with just one stop.
PEUGEOT E-5008: The large PEUGEOT SUV with its seven-seat capacity and range of up to 668 KM (WLTP combined cycle) represents a unique offering on the market. This SUV combines comfort, space, modularity and technological innovations for an exceptional driving experience.
PEUGEOT E-408: presented as a Belgian premiere, it combines unexpected and truly attractive styling with remarkable efficiency. The PEUGEOT E-408 is unique in its segment thanks to its dynamic fastback design.
PEUGEOT E-PARTNER: PEUGEOT will also be present on the Stellantis ProOne stand with the PEUGEOT E-PARTNER. The PEUGEOT E-PARTNER is a major player in the 100% electric van market. The new E-PARTNER now offers a range of up to 330 km, thanks to the installation of the batteries under the floor, which maintains the load volume. The useful volume can reach 4.4 m³, while the payload of 780 kg and towable weight of 750 kg are benchmarks in the segment.
All PEUGEOT models integrate connected services and ChatGPT artificial intelligence on the PEUGEOT E-3008 and E-5008 model ranges, enabling fluid, high-performance interaction with the vehicle. To support customers in their transition to 100% electric vehicles, each electric model offers a hybrid and/or plug-in hybrid version, thanks to the multi-energy platforms. Read More
.Growth in the UAE’s non-oil private sector expanded in December at its fastest rate in nine months on robust demand conditions, a business survey revealed on Monday. The seasonally adjusted S&P Global UAE Purchasing Managers’ Index (PMI) rose to 55.4 in December from 54.2 in the previous month, marking its third consecutive monthly increase. Survey respondents said the buoyant market conditions helped them to secure new clients and larger order book volumes. The overall rise in new work was the sharpest recorded for nine months, despite a softer upturn in sales to international clients. “Higher demand, projects in progress, discounted prices and favourable weather conditions were all supportive of business activity, according to qualitative reports,” the survey showed. However, staffing levels grew at one of the slowest rates in over two-and-a-half years, in part linked to margin pressures. Read More
Baker Hughes Rig Count: U.S. unchanged at 589 Canada -1 to 94
U.S. Rig Count is unchanged from last week at 589 with oil rigs unchanged at 483, gas rigs unchanged at 102 and miscellaneous rigs unchanged at 4. Canada Rig Count is down 1 from last week to 94, with oil rigs unchanged at 44, gas rigs down 1 to 50 and miscellaneous rigs unchanged at 0.
International Rig Count is down 10 rigs from last month to 909 with land rigs unchanged at 712, offshore rigs down 10 to 197. International Rig Count is down 46 rigs from last year’s count of 955, with land rigs down 23, offshore rigs down 13.
The U.S. Offshore Rig Count is unchanged at 14, down 5 year-over-year.
The Worldwide Rig Count for October was 1,754, up 4 from the 1,751 counted in September 2024, and down 22, from the 1,776 counted in October 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 03 January 2025 | 589 | 0 |
| Canada | 03 January 2025 | 94 | -1 |
| International | December 2024 | 909 | -10 |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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