Global energy ,automotive news, commentary and analysis
London, January 28, 2025 (Oilandgaspress) –- Oil prices lower on Tuesday after weak economic data from China soured the demand outlook.
Brent crude oil futures rose by 12 cents, or 0.2%, to $77.20 per barrel. US West Texas Intermediate (WTI) crude futures were up 10 cents, or 0.1%, to $73.27.. according to reports.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $73.45 | Down |
| Crude Oil (Brent) | USD/bbl | $77.42 | Down |
| Bonny Light 27/01/25 CBN | USD/bbl | $81.20 | Up |
| Dubai | USD/bbl | $80.65 | Up |
| Natural Gas | USD/MMBtu | $3.65 | Down |
| Murban Crude | USD/bbl | $80.36 | Down |
| OPEC basket 27/01/25 | USD/bbl | $80.07 | Down |
Repsol plans to invest 4 billion euros ($4.2 billion) in data centres, Expansion newspaper reported on Monday, citing unidentified sources close to the process. The planned data centres would be located near the northern Spanish city of Zaragoza, the newspaper said. Read More
Worldwide sales of battery electric vehicles (BEVs) grew last year to 10.4 million, up about 14% on the prior year, according to a study by management consultants PwC. Across the 21 markets examined by PwC, China dominated with nearly two-thirds of the volume, specifically 6.7 million BEVs. It also leads in growth with over 20%, significantly above average based on revised figures from the previous year. The US followed with 1.2 million sales and a 7.4% increase, followed by the United Kingdom with 382,000 BEV sales, a 21% increase from the previous year.
Germany fell to fourth place after a 27% collapse in its electric car market to 381,000 cars following the removal of purchase premiums last year.
Sales also declined in other European markets such as France, Austria, Italy, Switzerland and Sweden, but the declines were milder and on a lower basis than in Germany. Read More
The co-founder of collapsed energy company Bulb has apologised over the firm’s failure and has discussed his new venture into electricity storage, which he assures is taking a “completely different” approach. Amit Gudka departed from Bulb just months before its downfall in 2021 and subsequently established a battery storage start-up named Field.
Now in its fourth year and boasting around 90 employees, Field specialises in constructing and operating large-scale batteries that supply electricity to the grid during periods when wind turbines and solar panels are inactive. Read More
Google Maps has reportedly caved to President Donald Trump’s demands and will change the name of the Gulf of Mexico to the Gulf of America.
The change will be visible in the U.S. once it is officially updated in the U.S. Geographic Names System, Google said in an X post on Monday. But the name will still remain Gulf of Mexico on Google in Mexico. Outside of the two countries, users will see both names on Google Maps. Read More
Paolo Poma, the man responsible for Lamborghini’s financial management, and Italy’s two-time world champion biathlete Dorothea Wierer, share their experiences of sport, its parallels to the corporate environment, and how results crucially depend on a culture of preparation, planning, daily management and delivery.
In this episode of “Beyond: a Lamborghini podcast”, the pairing of a finance director and world-beating athlete share surprising synergies. “Precision in Performance” celebrates the Lamborghini podcast’s philosophy of exploring challenge, innovation and going beyond limits, through Lamborghini people meeting inspirational individuals from outside the automotive environment. Dorothea and Paolo, together with presenters Giulia Salvi and Tim Bravo, discover how two people at the top of their field come from unexpected backgrounds but practice a similar mantra in their daily lives.
Dorothea grew up on skis, discovering rifle shooting along the way and choosing to focus on becoming a biathlete. “I was in love with sport,” she says. “My parents helped facilitate my training of course, and I eventually went to a sports school. But the passion and the fastidious discipline had to come from me. One must have one’s own motivation to succeed.”
Paolo, on the other hand, started as an engineer before an MBA in Milan opened his eyes to the discipline of finance, where analytical skills are so important: “Meticulous scrutiny, planning for evolution, the next challenge, the targets of forecasting and finally the results: these are the skills of a finance director, month in and month out.” As an athlete at the pinnacle of achievement, Dorothea acknowledges this too: “In my complex discipline we have seasonal training, and every week brings something different and is equally important. Each day of the year, we focus on bringing together the sum of so many parts and every element adds up to success, producing the results.”
Paolo Poma is also a long-distance runner in his spare time, and he and Dorothea Wierer agree their physical and metaphorical journeys are definitively a marathon rather than a sprint. “For a marathon you need to prepare and have a solid base, focusing on each target and every aspect of your sphere of being, and today’s CFO must also have passion and aptitude for building relationships with other stakeholders. This is part of our company culture and in my seven years with Lamborghini we’ve built on these results: our most recent percentage of net profit/ROS is best in class,” says Poma, “and we can be singularly proud of that.” Read More
The 2025 Kia EV9 has been named the Edmunds Top Rated 2025 Electric SUV, solidifying its position as a standout in the electric SUV segment. Praised for its outstanding combination of utility, value, and spaciousness, the EV9 once again impressed Edmunds experts, cementing its status as a benchmark for excellence among EV SUVs.
“We are honored to have the EV9 recognized as the Edmunds Top Rated 2025 Electric SUV yet again,” said Steven Center, COO and EVP, Kia America. “This accolade highlights the EV9’s excellence and reinforces our commitment to delivering innovative and world-class EVs.” Edmunds Top Rated Award winners are selected by the Edmunds editorial team based on informed opinions gathered during its rigorous vehicle testing and ranking process, including results from the Edmunds EV Range Test and Edmunds EV Charging Test for EVs in consideration. “Kia has hit the sweet spot with a three-row family SUV that combines a great driving experience with a spacious, versatile cabin,” said Alistair Weaver, Edmunds Editor-in-Chief. “The quality and attention to detail are truly outstanding, bettering vehicles costing thousands more.” Read More
(QNA) – The European Union (EU) announced Monday the extension of sanctions imposed on Russia over the war in Ukraine.
Kaya Kallas, High Representative of the European Union (EU) for Foreign Affairs and Security Policy, said via the social media platform (X): The EU foreign ministers agreed to extend sanctions imposed on Russia again, with the aim of reducing the revenues used to finance the war.
This step was taken after Hungary approved the extension decision, after it had previously threatened to disrupt it due to Ukraine stopping the export of Russian gas through its territories.. Read More
Mercedes-Benz Classic is presenting Maria Callas, the legendary opera singer’s Model 600 “Grand Mercedes” (W 100) as an exclusive sales vehicle at the Salon Rétromobile show in Paris. It is a short-wheelbase saloon dating from 1971. The opera singer, who was living in New York at the time, personally took care of the car’s registration in France by letter. The rare two-tone paintwork with the body in silver-grey metallic (code DB180) and the roof in blue metallic (code DB387) emphasises the elegant individuality of the vehicle. Read More
Flow remediation specialist, Pipetech, has announced the launch of its revolutionary Downhole Scale Remediation (DSR) technology, set to redefine wellbore cleaning solutions for the global energy sector. Supported by the Net Zero Technology Centre’s (NZTC) emissions reduction programme, this innovation promises to redefine wellbore cleaning solutions while advancing sustainable practices.
The DSR directly addresses long-standing industry challenges posed by scale, wax, and other naturally occurring deposits that obstruct fluid flow, compromise production efficiency and create unsuitable surfaces for bridge plugs. Unlike traditional cleaning methods that rely heavily on corrosive chemicals, the DSR leverages a rotational high-pressure water-jetting system. Its advanced water-jetting nozzle tracks and adapts to a wellbore’s varying inner diameter (ID), delivering precise and effective cleaning for safety valves, side pocket mandrels, and other critical areas, restoring surfaces to bare metal with unmatched efficiency.
Patented in the UK and US, the DSR offers a transformative approach to tackling stubborn wellbore scale. In November 2024, the technology achieved proof of concept during qualification trials at Pipetech’s Aberdeen facility, independently verified by a third-party consultant to ensure alignment with industry standards. Client trials with leading energy operators further validated its potential to enhance production efficiency while significantly reducing environmental impact.
Looking ahead to 2025, field trials will take place to demonstrate the DSR’s superiority over existing chemical and mechanical methods. These trials aim to position the DSR as a faster, more effective solution, opening significant market opportunities. Additionally, global testing is scheduled across redundant wells in the UK, Norway, and other international locations to confirm its adaptability and reliability in diverse field conditions. Leonard Hamill, Operations Director at Pipetech, emphasised the significance of this breakthrough: “The DSR technology represents a major step forward for the energy sector. By combining advanced engineering with an eco-conscious approach, we’re providing a solution that tackles a long-standing operational challenge while aligning with the industry’s sustainability goals. We are proud to lead this innovation and are thrilled by the strong interest we’ve received from major operators, which underscores the DSR’s potential to become a game-changer in flow assurance.” The DSR is set to launch in the coming months, with Pipetech confident it will play a pivotal role in shaping the future of flow assurance technology. Read More
Capricorn provides the following update on operations and trading performance.: Financial performance for the year ended 31 December 2024: Revenues of $143m; provisional entitlement sales volumes of 3.5mmboe (39% liquids), production costs of $41m ($4.6/boe) with average oil price of $79.3boe and gas price of $2.94/mmscf
Capex of ~$60m
Group net cash of $23m; comprising $123m cash and $100m debt following receipt of payments in Egypt of $135m
Net cash inflows of $72m from Egypt operations, post capex
Receivables of ~$180m before expected credit loss adjustments
Gross G&A of ~$25m, inclusive of ~$3m in legacy restructuring costs but excluding share-based payments
$25m share buyback completed in November 2024
Senegal contingent payment of $50m from Woodside received on 22 January 2025. The precise amount and timing of distribution remains subject to any disputed tax obligations in Senegal
Operational update: FY 2024 WI Production of 23,739 boepd (44% liquids)
Development drilling continued through the latter part of 2024 with a remaining focus on the Abu Roash G (ARG) reservoir development and management in the Badr El Din (BED) area
Exploration drilling will commence in Q1 2025 with a sequence of wells drilled on the South East Horus (SEH), West El Fayoum (WEF) and North Um Baraka (NUMB) concessions, fulfilling outstanding exploration commitments
Outlook
Capricorn continues to work with its partner Cheiron to progress negotiations with the Egyptian General Petroleum Corporation towards an improved PSC on those concessions held 50:50. The Alam El Shawish West (AESW) joint venture will also be pursuing improvement in the concession terms in 2025
Continue to evaluate M&A opportunities in the UK North Sea and MENA region to diversify and expand our operations Read More
Golar LNG Limited has entered into a share purchase agreement for the sale of all its shares in Avenir LNG Limited to Stolt-Nielsen Gas Ltd. for a total consideration of approximately USD 40 million (the “Transaction”). The Transaction is expected to be completed during the first quarter of 2025, subject to fulfilment of the conditions under the share purchase agreement.
Golar will remain a 25% shareholder and debt provider to Higas Srl, the HIGAS LNG storage terminal in Sardinia, (“HIGAS”) that was spun off from Avenir LNG in October 2024. As of end October 2024, the book value of HIGAS was USD 40.5 million (on a 100% basis), of which $24.7m was shareholder loans and $15.8m shareholders equity. Read More
Two Just Stop Oil supporters have disrupted a performance of the Tempest, starring legendary actor Sigourney Weaver. They are demanding the UK government phase out fossil fuel burning by 2030. At around 8pm, two Just Stop Oil supporters climbed onto the stage at Theatre Royal, Drury Lane, stopping the performance. The pair could be seen holding a sign which read ‘Over 1.5 Degrees is a Global Shipwreck’, referring to the recent announcement that 2024 was the first full year over the 1.5 degree safe limit for global temperature rise. World Leaders stated they would aim to keep the world below 1.5 degrees of warming at the Paris Agreement in 2015. Scientists warn that surpassing 1.5 degrees over pre-industrial levels will trigger catastrophic feedback loops that threaten the stability of all life on earth. . Read More
Saudi Energy Minister Prince Abdulaziz bin Salman held talks on Monday with his Iraqi and Libyan counterparts, Hayan Abdel-Ghani and Khalifa Abdulsadek, in Riyadh on efforts to support the stability of global energy markets, the Saudi state news agency (SPA) reported.
OPEC+, which groups the de facto Saudi-led Organization of the Petroleum Exporting Countries and allies including Russia, is due to hold a meeting of its Joint Ministerial Monitoring Committee (JMMC) on Feb. 3. Read More
Islamic Development Bank (IsDB) Group Chairman Muhammad Al Jasser participated on Monday in the two-day Mission 300 African Energy Summit, held in Dar es Salaam, Tanzania, highlighting access to electricity as a fundamental human right.
Mission 300 is an ambitious initiative aimed at connecting 300 million people to electricity in Sub-Saharan Africa by 2030. It seeks to ensure that the transition to more diverse and cleaner energy sources meets demand, fosters economic growth, and creates jobs.
During a panel discussion on the role of international partners in accelerating the energy transformation, Al Jasser addressed the continent’s energy crisis, noting that 600 million people lack access to electricity. He emphasized that the deficit adversely impacts education, healthcare, and economic growth, asserting that access to electricity is not merely a developmental goal but a fundamental human right.
Al Jasser underscored the necessity of regulatory reforms and encouragement of private-sector participation. He said that legislators, service providers, and regulators should operate independently while collaborating effectively to achieve the objectives of Mission 300 initiative. He reiterated that the pillars of the IsDB’s strategy, represented by strategic investments, innovative financing, and strong partnerships.
Efforts within Mission 300 are focused on investing in power generation, transmission, and distribution, as well as regional interconnection and sector reform to guarantee the quality, reliability, and affordability of energy supplies. — SPA Read More
Charging Smart, the U.S. Department of Energy (DOE)-funded technical assistance and designation program, is now available in all fifty U.S. states. Charging Smart offers free technical assistance to help local governments accelerate the growth of electric vehicles (EVs) and charging infrastructure. By removing barriers to EV deployment, participating communities can unlock economic development, cleaner air, and other local benefits while maintaining project safety. Local governments can earn Bronze, Silver, or Gold designations, providing national recognition of their status as an EV-friendly community.
Charging Smart initially launched in a pilot phase in 2023, providing services to local governments primarily in the South and Midwest, as well as Colorado, Connecticut, and southern California. Nine cities in Minnesota were the first to earn Charging Smart designations in 2024. Eden Prairie, Falcon Heights, Faribault, Inver Grove Heights, Oakdale, Roseville, and St. James, Minnesota earned Bronze designations, while Hopkins and La Crescent, Minnesota earned Silver. Read More
Baker Hughes Rig Count: U.S. U.S. -4 to 576 Canada +16 to 245
U.S. Rig Count is down 4 from last week to 576 with oil rigs down 6 to 472, gas rigs up 1 to 99 and miscellaneous rigs up 1 to 5.
Canada Rig Count is up 16 from last week to 245, with oil rigs up 18 to 174, gas rigs down 2 to 71 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 | 24 January 2025 | 576 | -4 |
| Canada | 24 January 2025 | 245 | +16 |
| International | December 2024 | 909 | -10 |
| Baker Hughes |
The new Fiat Grande Panda, the first model of the new global family, truly represents the Italian brand for its Italian design, compactness, inclusivity, and sustainability. Today, the Fiat Grande Panda makes its debut equipped with the electric and hybrid powertrain, taking on the entire B-segment, a segment where FIAT has been a leader for decades. Reflecting the brand’s signature style, the new model is an ideal fit for both family and urban life worldwide. Designed at the Centro Stile in Turin, the Fiat Grande Panda is notable for its compact size and features clean lines and a well-organized interior, making it ideal for family life and urban mobility. The car’s robust and structured appearance, along with its dynamic wedge-shaped design, emphasizes strength and uniqueness. The Grande Panda is the first FIAT built on the Stellantis “Smart Car Platform”. This new “family mover” is socially significant due to its flexible and versatile multi-energy platform, which can cater to the needs and expectations of customers from various markets. The Grande Panda is the inaugural model of a new family set to be introduced in the coming years. FIAT’s innovative project aims to produce this new global family on the versatile and multi-energy Smart Car platform, which is effective in every region worldwide. This approach enables the brand to develop a variety of vehicles and meet the diverse needs of customers around the globe. Read More
The Opel Combo 4×4, developed in collaboration with the renowned all-wheel drive specialist Dangel, shines as a universally applicable “workhorse” that meets the highest demands in terms of flexibility and safety. Whether in an urban environment, on demanding off-road routes or on steep climbs: the new Combo 4×4 impresses with its innovative technology and clever equipment.
Clever system: Automatic 4×4 activation for optimal traction
The new Combo Cargo 4×4 is equipped with an intelligent all-wheel drive system that is automatically activated when necessary. As soon as the vehicle detects a loss of grip, the all-wheel drive switches on, ensuring optimal distribution of the drive power. The power of the efficient 96 kW (130 hp) turbodiesel, which works in conjunction with an eight-speed automatic transmission, is not distributed between the front and rear axles as with a conventional all-wheel drive. In the Combo 4×4, the electric rear axle provides the additional torque for propulsion. This means the new Combo 4×4 always ensures optimal safety and control – even in difficult driving conditions. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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