Global energy ,automotive news, commentary and analysis
(Latest) Brent $70.09/bbl, WTI Crude $67.00/bbl,Gas $4.28/MMBtu
London, March 05, 2025 (Oilandgaspress) –- Equinor and its partners, Okea and Pandion Energy, have proven gas and condensate in the “Mistral Sør” exploration well in the Halten area, situated in the southern part of the Norwegian Sea. Preliminary estimates indicate that the discovery contains 3-7 million standard cubic metres (Sm3) of recoverable oil equivalent (o.e.), which corresponds to 19-44 million barrels of recoverable o.e.
“Norwegian gas is in high demand and is crucial to Europe’s energy security. That’s why it’s important for us to continue exploring and making new discoveries so we can maintain a high level of deliveries. This discovery was made in an area where gas infrastructure is already in place, and
which we’re also continuing to develop. We have active exploration efforts under way in this area, which have resulted in several discoveries in recent years,” says Grete B. Haaland, Equinor’s senior vice president for Exploration & Production North.
The licensees’ assessment is that this is a commercial discovery, and they will consider tie-back to existing infrastructure or development together with other discoveries in the area. The discovery was made in the Åsgard and Kristin area in the Norwegian Sea. Mistral Sør is situated just a short distance north of Linnorm, the largest gas discovery on the Norwegian continental shelf (NCS) that has yet to be developed. Equinor took over the operatorship for Linnorm in 2023. A discovery was also made in 2024 in the Lavrans field. Lavrans is currently being developed with a tie-back to the Kristin Sør field.. Read More
McDermott announces the safe and successful completion of engineering, procurement, construction, installation, and commissioning (EPCIC) activities in the Gulf of Mexico for Shell Offshore Inc. (Shell), a subsidiary of Shell plc., to begin oil production at its Whale development.
Awarded in 2021 and completed last month, the project leveraged McDermott’s marine assets, including its North Ocean 102 vessel and the newly upgraded Amazon, to execute complex pipelay operations, reaching water depths of nearly 2,800 meters (9,100 feet). This included installing approximately 50 kilometers (30 miles) of pipeline and 15 kilometers (9 miles) of umbilicals connecting five subsea drill centers to the new Whale floating production platform. Seamless collaboration across multiple offices, plus skilled engineering and procurement guided by rigorous safety protocols, ensured the project’s success. Read More
DNO ASA confirmed a gas/condensate discovery on the Mistral prospect in the Norwegian Sea license PL1119 in which the Company’s wholly-owned subsidiary DNO Norge AS recently acquired a 10 percent interest.
The well encountered a 45-meter hydrocarbon column with good reservoir properties in the Garn Formation. Preliminary estimates of gross recoverable resources encountered are in the range of 19-44 million barrels of oil equivalent. In addition to DNO, license partners include Equinor Energy AS (50 percent and operator), OKEA ASA and Pandion Energy AS (20 percent each).
Located some 20 kilometers southwest of Equinor’s ongoing Lavrans subsea development, the Mistral discovery is a candidate for a fast-track tieback to this field. Given the good reservoir properties, the discovery likely allows for simplified development solutions.
To diversify its exploration portfolio, DNO entered into the Mistral license through a swap agreement with OKEA announced on 19 December 2024, shortly before spud date of the discovery well. In exchange, OKEA picked up a 10 percent interest in North Sea license PL1109 containing the Horatio prospect, in which DNO has retained a 20 percent interest. Exploration drilling is ongoing at Horatio. The DNO-OKEA transaction is subject to government approval.
Further south, DNO is currently drilling its Kjøttkake exploration well in North Sea license PL1182S in which the Company holds a 40 percent operated stake. Read More
Saab and ICEYE, a leading provider of Synthetic-Aperture Radar (SAR) data and analytics, today announced a Memorandum of Understanding (MoU) to cooperate on the development and integration of advanced space-based radar data in Saab’s command and control systems. This strategic cooperation aims to integrate ICEYE’s cutting-edge SAR technology solutions into Saab’s command and control systems, enhancing tactical decision-making and situational awareness in defence. Space-based sensor capabilities are becoming crucial for modern militaries, providing access to critical information in challenging environments. This cooperation intends to deliver tangible value to customers by integrating ICEYE’s enhanced situational awareness, long-range targeting, and improved tactical decision-making capabilities with Saab’s command and control systems.
“Saab’s integration with ICEYE data will provide real-time, high-resolution imagery through clouds and darkness, enabling comprehensive surveillance and reconnaissance for faster, even more informed decisions, in complex operational environments,” says Carl-Johan Bergholm, Senior Vice President and Head of Saab’s business area Surveillance.
The MoU lays the foundations with the initial focus on investigating and demonstrating integration for multi-domain operations. The benefits would enable advanced space situational awareness and critical infrastructure protection capabilities, providing valuable insights for both civilian and military authorities in times of peace, the grey zone or conflict. Read More
The Ukrainian president expressed regret Tuesday over his exchange with his US counterpart Donald Trump and urged for a return to cooperation after Washington paused its military support to Ukraine.
Ukrainian President Volodymyr Zelenskyy has said he and his team are “ready to work under President Trump’s strong leadership to get a peace that lasts,” as he also proposed the initial stages of a peace plan for Ukraine.
Zelenskyy described the terse exchange with US President Donald Trump at the White House as “regrettable,” saying “it is time to make things right”, just hours after Washington announced a pause on military support to Ukraine. Zelenskyy also tentatively proposed that the initial stages of a potential peace plan include “the release of prisoners and truce in the sky — ban on missiles, long-ranged drones, bombs on energy and other civilian infrastructure — and truce in the sea immediately, if Russia will do the same. Then we want to move very fast through all next stages and to work with the US to agree a strong final deal.” Read More
Futurist and AI prophet Ray Kurzweil predicts that computers will soon reach human intelligence. After that, they are expected to merge with humans to form an immortal super-intelligence. Other AI researchers are much more skeptical—although GPT-4 just excelled at the Turing test. In late June 2024, inventor and visionary Ray Kurzweil sat at a window of the Boston Four Seasons Hotel and held up a sheet of paper. On it, he showed a New York Times reporter a steep growth curve: How much computing power could you buy for a dollar in 1938, and how much the day before yesterday?
The neon green curve in his hand was intended to illustrate why the 76-year-old has just published a new book: ‘The Singularity Is Nearer’ is the follow-up to ‘The Singularity Is Near’, his 2005 bestseller. The concept of technological singularity represents a potential point in the future when artificial intelligence (AI) surpasses human intelligence and then rapidly evolves itself.
According to this line of thinking, technological progress would be unstoppable and no longer controlled by humans. Kurzweil takes this a step further and imagines a moment in which we enhance our brains with virtual neurons in the cloud and thus “merge with AI and improve ourselves with a million times the computing power of our original biology”. Kurzweil’s belief in the singularity is based on the insight revealed by his green graphic. It is similar to the exponential growth curve of the computing power of computer chips predicted by Moore’s Law in 1965.
Kurzweil calls this the “law of accelerating returns”. It postulates that technological developments create feedback loops that accelerate innovation in other areas as well. This development has increased rapidly since he published his first singularity book in 2005: “For a dollar you get roughly 11,200 times more computer power today,” he calculates. This will lead, he says, to enormous leaps in biotechnology and nanotechnology. And naturally in computers themselves: Cognitive scientists at the University of California recently had almost 500 participants chat with real people and various large language models in a test. 54 percent of the subjects considered the AI model GPT-4 to be a person. According to the researchers, this is the first time a machine has passed the Turing test. Read More
Intersect Power, LLC has been included on Forbes 2025 list of America’s Best Startup Employers. Intersect’s culture intentionally embodies the values of the team – achievement, flexibility, community, impact, and family. Intersect continues to scale rapidly, providing meaningful growth and development opportunities, the ability to work on first of a kind projects, and generous economic rewards for its team. Forbes partnered with market research firm Statista to develop the list. Companies considered in the evaluation must be headquartered in the U.S., founded between 2015 and 2022, employ at least 50 employees, and exhibit a startup structure. Millions of data points were gathered and analyzed with each company evaluated in three primary areas: company reputation, employee satisfaction, and growth. . Read More
Hindustan Petroleum Corporation Ltd. (HPCL), a Maharatna Oil Company, and Tata Motors, India’s largest commercial vehicle manufacturer, have partnered to introduce their co-branded Genuine Diesel Exhaust Fluid (DEF). This high-quality DEF solution will drive optimal vehicle performance, boost drivetrain efficiency, and extend vehicle longevity. Produced in BIS-approved facilities that meet the highest industry standards, this co-branded Genuine DEF is being made available via HPCL’s extensive retail network of 23,000 fuel stations across the country, ensuring ready availability and easy access for customers.
An essential component for modern BS6-compliant diesel vehicles, DEF plays a key role in reducing harmful emissions by breaking down potentially harmful nitrogen oxides into safer and cleaner nitrogen and water. By using this co-branded Genuine DEF, Tata Motors’ customers can conveniently enhance vehicle efficiency while ensuring compliance of emission and environmental norms. Read More
Battery-electric intercity bus tested under the toughest conditions at the Arctic Circle
Bus companies place the same demands on electrically powered buses as on their counterparts with conventional diesel engines. Even in difficult weather conditions such as cold, ice and snow, the vehicles have to do their job reliably. Against this background, the current winter tests of two near-production Mercedes-Benz eIntouro vehicles in Rovaniemi, Finland, once again proved to be important endurance tests. Under extreme climatic conditions such as snowy and icy carriageways, biting winds and temperatures down to minus 30 degrees, the development and testing team put the first battery-electric intercity bus from Daimler Buses through its paces in order to probe for further optimisation measures.
All new bus types from Daimler Buses undergo an extensive test routine before the start of series production, which includes safety tests and load tests as well as driver tests under extreme heat and in extreme cold.
Battery-electric intercity bus tested under the toughest conditions at the Arctic Circle
During the trip to Finland, the engineers closely examined all the functions and systems of the two eIntouro in practice. For example, the coordination of the drive control and the central drive module were also part of the team’s tasks, as was the gearshift coordination of the three-speed transmission integrated into the central drive module and the optimisation of the brake management, in which the recuperation of the electric motor plays a decisive role. At the same time, the eIntouro was able to prove its long-distance capability during the winter test drive: test engineers from Daimler Buses drove the eIntouros the 3,000-kilometre route from Neu-Ulm to Finland and back again on their own wheels. They only used publicly available charging infrastructure for recharging. The quick-charging capability of the batteries enabled short charging breaks and a swift continuation of the journey. Read More
New facility to optimise logistics for Bentley’s future Battery-Powered Electric Vehicle (BEV) production, starting in 2027
Bentley Motors has officially broken ground on its new Integrated Logistics Centre at its historic Crewe headquarters, marking a crucial step in preparing for the luxury marque’s all-electric future. Designed to enhance operational efficiency, flexibility, and sustainability, the facility will support the production of all future Bentley BEVs, while reinforcing the brand’s commitment to its Beyond100+ strategy.
The 11,620 sqm centre will support material processing and delivery to assembly lines, introducing advanced kitting and sequencing capabilities to optimise the handling of both small and large parts. By increasing the onsite storage footprint by 35 per cent, Bentley will reduce reliance on external warehousing and transportation.
For the first time in the Volkswagen Group, Bentley will implement a cutting-edge automated storage concept – an innovative storage and retrieval system that enhances process stability and improves material sequencing.
The facility has been designed with efficiency and flexibility in mind, to ensure seamless logistics operations, with a direct connectivity to production operations. Inside, a three-storey mezzanine will house: a visitor room, canteen, offices, training rooms, plant equipment and a viewing platform for operational oversight. Read More
Perfecting the new V8 Twin Turbo engine made in Sant’Agata Bolognese
The Lamborghini Temerario, the only production super sports car able to reach 10,000 rpm, features a new hybrid powertrain that combines a twin-turbo V8 engine, designed and developed from the ground up at Automobili Lamborghini headquarters in Sant’Agata Bolognese, with three electric motors, delivering total power of 920 CV. The performance is stunning: a sprint from 0 to 100 km/h in just 2.7 seconds, and a top speed of 340 km/h. The new engine is now one of the most powerful in the segment. The V8 biturbo delivers its peak power of 800 CV from 9,000 to 9,750 rpm and 730 Nm of torque between 4,000 and 7,000 rpm. The electric motor in P1 position (between the V8 engine and the gearbox), ensures immediate response starting from low engine speed and continues consistently through gear shifts, working as a torque gap filler and improving the transient response, giving the sensation of linear and limitless progression up to 10,000 revs. Thanks to the two large turbochargers, efficiency and performance are increased at top speeds. These are located compactly in the V of the engine as a “hot V8” to optimize the packaging and thermal management. The achievement of such high revs is derived from technical solutions drawn from the world of motorsport, such as the flat-plane crankshaft that ensures optimal fluid dynamics due to an even firing order between the two banks and delivering a unique and engaging sound. The titanium connecting rods, thanks to the excellent properties of this material in terms of strength and lightness, help to reduce weight and the rotating masses. The racing-inspired design also includes finger followers coated in DLC (Diamond Like Carbon), a material that increases hardness and therefore strength, so that they can withstand speeds up to 11,000 rpm. Read More
The first step in crafting one of the world’s most aerodynamically sophisticated road-cars started with a simple idea: to create a step-change from the masterpieces that have come before. “The Tourbillon’s predecessor, the Chiron², was already a low-drag car. But with the Tourbillon, we need to do better than that,” emphasized Paul Burnham, Bugatti’s Chief Vehicle Engineer for the Tourbillon.
Taking the concept of aerodynamic performance further than the top-speed world record-breaking Chiron, started at a conversely small point in the development process. With the foundation laid for Bugatti’s next hyper sports car by the marque’s design and engineering teams, months of CFD (Computational Fluid Dynamics) simulations gave them a first idea of the performance to come. For the next step, fifteen months prior to the Tourbillon’s reveal to the world, a collective of some of Bugatti’s finest engineers and aerodynamicists congregated at a state-of-the-art wind-tunnel facility in Italy – their focus a beautifully constructed half-scale model of the Tourbillon. The model at the center of the fastidious testing program is itself a work of art. Perfectly mirroring the shape of what would evolve to become the Tourbillon, the test-subject was meticulously crafted from 250 individual, 3D-printed components, fitted with over 100 pressure taps around the model’s body-panels. Read More
Hedley Studios (formerly The Little Car Company) has worked closely with Bugatti and its in-house Manager of Sur Mesure and Individualisation, Jascha Straub, to design and create a bespoke, one-of-one Bugatti Baby II. The striking yet elegant Bugatti Baby II turns back the sands of time, honoring the French marque’s incomparable 115-year heritage. A three-quarter-scale, drivable and electrified interpretation of the inimitable Type 35 – Ettore Bugatti’s visionary creation and the most successful racing car of all time, which celebrated its 100th anniversary last year – it represents a unique, loving, and dynamic tribute to a design etched into automotive history. For this unique example of the Bugatti Baby II, they curated a mesmerising duo-tone of ‘Nocturne’ black and ‘Giallo Midas’ yellow – a celebration of a color scheme personally favoured by Ettore Bugatti himself, and one that has adorned such legendary Bugatti models as the beautiful Type 57 Grand Raid Usine. Reaffirming Bugatti and Straub’s keen eye for deeply personal touches, the special Baby Bugatti II is resplendent in its captivating blend of history and beauty, its unique design infused throughout with the designer’s affinity for the marque and profound appreciation of its history. Read More
Daimler and Maybach reached a milestone in 1885: They tested the high-speed four-stroke internal combustion engine in public with the two-wheeled Reitwagen, or “riding car” in English. It was the first road vehicle in the world with this drive system, and at the same time the first “motorcycle” in history. Daimler applied for a patent for the invention (DRP 36423 dated 29 August 1885).
To mark “140 Years of the Reitwagen”, Mercedes-Benz Classic is putting an authentic replica of the motorcycle with a wooden frame and Daimler single-cylinder engine into action: at the open-brand classic car meet Classics & Coffee at the Mercedes-Benz Museum on 31 August 2025, a special event on the theme of “Motorcycles”. Read More
Mercedes-Benz approved to test special marker lights for automated driving in Germany
Mercedes-Benz is the first automotive manufacturer to receive approval for special marker lights for automated driving in Germany. This approval is valid nationwide for testing purposes and is initially limited until July 2028. Germany once again underscores its pioneering role in the field of automated driving, having been first to permit conditionally automated driving (SAE-Level 3). Mercedes-Benz seized this opportunity and received the world’s first internationally valid type approval for conditionally automated driving for DRIVE PILOT at the end of 2021.
The exterior lighting now permitted by special exemption indicates to other road users whether the conditionally automated driving function is activated. This also allows traffic authorities and police to recognize the system status more easily and determine whether the driver is allowed to engage in other activities during conditionally automated driving. The special marker lights are integrated into the front and rear lights as well as the side indicators in the exterior mirrors. When DRIVE PILOT is activated, these lights illuminate continuously in turquoise – the color Mercedes-Benz aims to establish for conditionally automated driving and higher. Turquoise has already been included in various standards and draft regulations (SAE J3134, UNECE and China Compulsory Certification). Read More
Doriane Pin, one of the foremost female drivers in motorsport, returns to F1 Academy in 2025 with one aim: the title. As preparations continue to ramp up ahead of the new season, the Mercedes-AMG F1 Academy #28’s livery has been revealed.
The car combines both the famous silver of the Mercedes Silver Arrows and the black that has become synonymous with the German marques works F1 team. Added to this is the team’s volt green, demarking Doriane’s place in the junior programme, with Qualcomm Technologies, Inc, senior partner of the Mercedes-AMG F1 Academy entry, represented by the Snapdragon brand. The 21-year-old Frenchwoman claimed three victories and five further podium finishes en route to finishing second in last year’s championship. More remarkably, 2024 marked just her first full year of single-seater racing. Read More
The most common U.S. gas price encountered by motorists stood at $2.99 per gallon, unchanged from last week, followed by $2.89, $2.79, $3.09, and $2.69 rounding out the top five most common prices.
The median U.S. gas price is $2.89 per gallon, down 5 cents from last week and about 15 cents lower than the national average.
The top 10% of stations in the country average $4.46 per gallon, while the bottom 10% average $2.47 per gallon.
The states with the lowest average prices: Texas ($2.58), Mississippi ($2.62), Oklahoma ($2.63).
The states with the highest average prices: California ($4.71), Hawaii ($4.51), and Washington ($4.06).
Biggest weekly changes: Michigan (-10.6¢), South Carolina (-10.6¢), Texas (-10.0¢), Ohio (-9.2¢), Iowa (-8.7¢)
DIESEL PRICE TRENDS
The most common U.S. diesel price stood at $3.59 per gallon, unchanged from last week, followed by $3.49, $3.39, $3.29, and $3.69, rounding out the top five most common prices.
The median U.S. diesel price is $3.49 per gallon, down 3 cents from last week and about 14 cents lower than the national average.
Diesel prices at the top 10% of stations in the country average $4.59 per gallon, while the bottom 10% average $3.05 per gallon.
The states with the lowest average diesel prices: Oklahoma ($3.12), Texas ($3.22), and Arkansas ($3.24).
The states with the highest average diesel prices: Hawaii ($5.29), California ($5.03), and Washington ($4.38).
Biggest weekly changes: North Dakota (-6.3¢), Utah (-6.1¢), West Virginia (-5.9¢), Texas (+5.7¢), Michigan (+5.6¢). Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $67.07 | Down |
| Crude Oil (Brent) | USD/bbl | $70.14 | Down |
| Bonny Light 04/03/25 CBN | USD/bbl | $73.53 | — |
| Dubai | USD/bbl | $77.92 | — |
| Natural Gas | USD/MMBtu | $4.31 | Down |
| Murban Crude | USD/bbl | $70.85 | Up |
| OPEC basket 04/03/25 | USD/bbl | $72.38 | Down |
OMV Petrom, in partnership with Save the Children Romania, supports with 1.5 million euros the renovation of Polizu Maternity Hospital – the largest unit of its kind in Bucharest and Romania. This initiative will contribute to improving medical conditions for thousands of mothers and newborns across the country, by modernizing the hospital infrastructure and providing updated equipment. Polizu Maternity Hospital is Romania’s largest intensive care unit for obstetrics and neonatology, serving high-risk pregnancies and premature newborns from across the country. Polizu is also the destination for complex cases such as various foetal conditions and situations where immediate intervention is needed from the very first seconds of life. The hospital is a national referral centre and has significant needs to update its infrastructure and equipment. The overall objective of the project is to improve the quality and safety of health care by modernizing the infrastructure of the Intensive Care Unit and the Operating Room. Read More
Abarth adds another award to its collection: the first electrically powered Abarth 500e has been awarded in the “Best Cars” competition by the prestigious German magazine “auto motor und sport”. After eight years of recognition for its sportiness and style features, it’s now the BEV version to take the stage, confirming the leading role of the Scorpion Brand in the electric transition and ensuring that the Scorpion’s hot hatches are even more fun than ever.
The first electric jewel from the brand has won the “Mini Cars” category with 23.6 percent of the votes, surpassing both domestic and imported competitors, including models with electric and conventional combustion engines.
The readers of the specialist German magazine honoured Abarth for the nineth time, rewarding, with nearly of a quarter of preferences, the Abarth 500e as the best “Mini car” in the German market. This accolade, another important triumph for Abarth, underlines the brand’s international success, as well as its high status among German car enthusiasts, not only because of its well-known performance, but also for its value in the electromobility scenario. The ceremony will take place in May during a special occasion, the Hamburg Harbour Birthday.
The Abarth 500e is the first EV model of the Scorpion brand, thanks to its electric architecture, improved weight distribution, instant torque, and wider wheelbase. The 42-kWh battery feeds an electric motor with an output of 113 kW (155 hp), powering the car from a standstill to 100 kph in just 7.0 seconds. Read More
Opel Astra and Astra Sports Tourer are the right solution for virtually every need. This is also ensured by the extensive powertrain range offered for the compact class bestsellers. The latest Astra generation is available with battery-electric drive, as a plug-in hybrid, as a hybrid with 48-volt technology and with a highly efficient combustion engine.
One special Opel model is largely responsible for the fact that such a variety of modern and affordable vehicle models and variants are taken for granted today: It is the Opel ‘Type Olympia’ from 1935. 90 years ago, it laid the foundation for modern, time- and cost-saving automobile production. The Opel Olympia was the first German mass-produced car with a self-supporting all-steel body. Thus, it enabled the introduction of the so-called ‘marriage’ in production – a concept that would write technological history and continue to shape the future of automotive series production up to this day. Read More
Baker Hughes Rig Count: U.S. +1 to 593 Canada +4 to 248
U.S. Rig Count is up 1 from last week to 593 with oil rigs down 2 to 486, gas rigs up 3 to 102 and miscellaneous rigs unchanged at 5.
Canada Rig Count is up 4 from last week to 248, with oil rigs up 3 to 177, gas rigs up 1 to 71 and miscellaneous rigs unchanged at 0.
International Rig Count is down 4 rigs from last month to 905 with land rigs up 1 to 713, offshore rigs up 5 to 197. International Rig Count is down 60 rigs from last year’s count of 965, with land rigs down 27, offshore rigs down 33.
| Region | Period | Rig Count | Change |
| U.S.A | 28 February 2025 | 593 | +1 |
| Canada | 28 February 2025 | 248 | +4 |
| International | January 2025 | 905 | -4 |
| Baker Hughes |
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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