Global energy ,automotive news, commentary and analysis, January 23, 2025
London, January 23, 2025 (Oilandgaspress) –- Europe’s benchmark natural gas prices up.
Offshore Energies UK (OEUK) has published new guidelines for companies entering the offshore wind industry, which it hopes will accelerate the onward development of the industry The guidelines, which are divided into seven sections, are intended to address knowledge barriers in windfarm development, and to drive strategic supply chain investment. They were developed and co-ordinated by BVG Associates, an independent specialist renewable energy consultancy and describe in detail the processes for establishing a windfarm from first principles of leasing a sea area, to commercial market regulations and supply chain requirements. OEUK says the guidelines will help speed up the UK’s drive to greater reliance on sustainable homegrown electricity supplies in the face of continuing high costs and security risks around energy imports.
The guidelines include maps showing potential areas of opportunity for offshore wind development, the mechanisms of leasing agreements in different UK jurisdictions, consent, licensing, distribution, connections and supply chain requirements. Read More
The first stage of a new website to help workers move around the UK’s energy mix, including oil and gas and offshore wind, is being launched today by Offshore Energies UK (OEUK) and RenewableUK, supported by the UK and Scottish Governments.
The Energy Skills Passport website is a tool which will enable workers to easily identify which qualifications, such as technical and safety standards, are needed for specific roles in oil and gas and offshore wind, as well as mapping out potential future career pathways within the energy sector. Research commissioned by OEUK shows that 90% per cent of oil and gas workers have skills which can also be applied to renewable energy.
The initial version of the website will be tested by a group of workers so that they can provide feedback before the full version becomes available later this year. From today, users will be able to create personal accounts listing their qualifications, and then select from a limited number of offshore wind roles, such as turbine maintenance technician. The tool will provide details of the training needed to fulfil these specific roles. As part of the next phase, it is intended that more roles will be added to encompass the wide range of jobs available across the energy industry.
The passport tool is part of a range of measures developed by industry and government to support the UK offshore energy workforce to understand and plan for expanded homegrown energy production. It is expected that the passport will also evolve as the UK’s energy production profile changes, with more information on training courses and the availability of jobs to be added as the sector expands. Read More
Wind power has collapsed to less than 1pc of Britain’s supply as some of the stillest weather in years hits the UK and Europe.
The “dunkelflaute” spell sent winter wind farm output to what is thought to be its lowest since 2015 – when there were far fewer turbines.
Near-zero wind speeds and low temperatures have left the UK dependent on France, Norway, Belgium and Denmark to keep the lights on through much of today, with the countries collectively supplying more than 10pc of the UK’s electricity through undersea cables. The lack of wind also left Britain highly reliant on its ageing fleet of gas-fired power stations which were providing over 60pc of its electricity. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $75.59 | Down |
| Crude Oil (Brent) | USD/bbl | $79.15 | Down |
| Bonny Light 23/01/25 CBN | USD/bbl | $81.62 | Down |
| Dubai | USD/bbl | $80.80 | Down |
| Natural Gas | USD/MMBtu | $3.98 | Up |
| Murban Crude | USD/bbl | $82.50 | Down |
| OPEC basket 22/01/25 | USD/bbl | $80.90 | Down |
In 2024, FIAT led Brazil’s car market with a 20.9% share, over 521 thousand sales, and top models like the Fiat Strada, consolidating its dominance in South America and across all key segments. FIAT also led the Italian market with more than 190 thousand sales, a 10.8% share, driven by the Panda and Ducato. In 2024, FIAT dominated the Turkish and Algerian markets, achieving record market shares of 11.2% and 62%, respectively. Key drivers included the Fiat Egea in Turkey and the Doblò in Algeria bolstered by strong LCV performance.
2024 was a significant year for FIAT. Among the celebrations of its 125th anniversary, the brand consolidated its position as the number one global brand of Stellantis, leading in 4 domestic markets (Brazil, Italy, Turkey, Algeria), over 3 continents, and with a different model in each country: Strada, Panda, Egea and Doblò. Furthermore, as previously announced in the first half of 2024, FIAT ended the year also excelling in South America. In Europe, the brand’s leadership was reinforced in the A and EV segments with the Fiat 500e, in the A Segment with the Fiat Pandina and in the LCV business too, thanks to the performance of Doblò, Fiorino, and Ducato, Stellantis’ most-sold large van. Read More
With the all-new Grandland and Frontera as well as the new Mokka, Opel offers the youngest SUV trio on the market and the right model for every taste. From the compact, further sharpened Mokka to the family-friendly Frontera and the new top-of-the-line Grandland, each SUV is already available to order – with powerful and efficient, electrifying drives. Each of the three newcomers is available both all-electric and thus locally emissions-free and with efficient, fuel-saving 48-volt hybrid drives. In addition, the Grandland even comes as a dynamic plug-in hybrid. All customers need to do is decide which model and which drive is best suited to their needs.
Travelling locally emissions-free: New Grandland, Frontera and Mokka Electric The all-new Opel Grandland not only shines with innovations such as the new 3D Vizor with illuminated Opel Blitz logo and illuminated OPEL wordmark at the rear as well as glare-free Intelli-Lux HD light or the practical Pixel Box for inductive smartphone charging. The ‘Golden Steering Wheel 2024’ winner4 is also the first Opel based on the BEV-native STLA Medium platform. Grandland Electric customers already have the choice of two 157 kW (213 hp) electric variants, which propel the Grandland from 0 to 100 km/h in 9 seconds and offer ranges suitable for everyday use and travelling.
With the 73 kWh battery (usable capacity), the all-electric SUV can cover up to 523 kilometres (WLTP1) between charging stops. In the Grandland Electric GS with an 82 kWh battery, the range increases to up to 582 kilometres (WLTP1). And soon, the 97 kWh battery will even be able to cover up to around 700 kilometres (WLTP1) with zero local emissions. If the Grandland needs to be recharged, it takes less than 30 minutes to charge to 80 per cent of the battery capacity with a charging capacity of up to 160 kW at a public fast charging station. Read More
2024 marked another milestone for Stellantis in its electric transition, one of the cornerstones of the Dare Forward 2030 strategic plan.
The Stellantis brands, among which FIAT and Opel celebrated their 125th anniversary, launched 27 new models at global level: just think of the New Lancia Ypsilon, which marks the Renaissance of the Lancia brand, or the Alfa Romeo Junior, with which the Biscione brand returns to the B segment, the most important in Europe. Or the Citroën C3 and C3 Aircross, 100% European models, launched at a very competitive price, under 24,000 euros (for Citroën ë-C3), and the new Peugeot E-3008 and E-5008 which, in their ‘Long Range’ versions, offer a range of 700 and 668 km respectively, the best in their classes. Boldness, technological innovation, and style choices have led Stellantis cars to receive over 50 international awards in 2024, bestowed by qualified juries from around the world. All this has enabled Stellantis to confirm its second place on the EU29 PC + CV market, ending 2024 with a market share of 17.1% and consolidating its strengths. Read More
British Airways’ parent company has announced an investment in a company planning to convert used tyres into jet fuel.
International Airlines Group (IAG) said its funding will enable Wastefront to begin construction on a £100 million factory producing sustainable aviation fuel (Saf) in Sunderland. The plant is expected to begin operating in 2026 and will reach full capacity the following year. It is expected to process up to 10 million waste tyres annually. Read More
Capricorn has received a payment of $50m from Woodside Energy after satisfying all terms and conditions under the sale and purchase agreement relating to the disposal of its production sharing contract (PSC) interests in Senegal.
The Company remains committed to returning any available proceeds of this contingent payment to its shareholders. The precise amount and timing of distribution remain subject to any disputed tax obligations as outlined in our half year results on 19 September 2024. Read More
Rivian has spent the last few years refining its flagship with little software updates here and there, but the result of its major update for the 2025 model year was the most transformative by far. Though it doesn’t look like it from the outside, updated powertrains, improved software, new features, and more options at more price points mean the R1T is an honest-to-goodness all-rounder. There are now more trims to pick from, far more maximum range than before, and an easier-to-use interface. The R1T’s inherent sharp handling and brisk acceleration from every trim, regardless of power output, make piloting this truck a joy. If you prioritize range, you can get up to 420 miles. Those who want power and acceleration should opt for the new 850-horsepower Tri Max or 1,025-hp Quad Max models. Off-roaders will be impressed by any model’s capability, especially with the new Ascend trim’s additional off-road modes. Need to tow? The R1T has a competitive towing capacity of 7,700 to 11,000 pounds. Read More
Bentley Motors is marking the fifth anniversary of its partnership with Bentley Cyprus by introducing the new fourth-generation Continental GT to its customers, reaffirming the brand’s commitment to excellence, performance, and bespoke luxury. Bentley Cyprus, located in the vibrant district of Ayios Athanasios, Limassol, has made an important contribution to Bentley’s success across Europe over the past five years. The prime location, situated within one of Limassol’s most prestigious commercial areas, has positioned the showroom as a hub for automotive enthusiasts and luxury seekers alike. The fourth-generation Continental GT represents the pinnacle of Bentley’s grand touring heritage combining iconic design elements with cutting-edge technology to deliver an unrivaled driving experience. The flagship grand tourer comes with an advanced Ultra Performance Hybrid powertrain, featuring a 4.0-litre V8 engine paired with a 190 PS electric motor, producing a combined output of 782 PS and 1,000 Nm of torque. This power allows the Continental GT to accelerate from 0-100km/h in just 3.2 seconds, ensuring a thrilling and dynamic performance. Read More
Lamborghini unveiled the all-new Temerario to Lamborghini customers and media yesterday at the exclusive Dubai venue, the Museum of The Future. More than 300 specially-invited guests said ‘marhaba’ to the latest Lamborghini super sports car at a private launch soiree. Senior representatives from Lamborghini management were present to welcome clients from the UAE and the wider GCC region, and guests had the opportunity to explore the two variants of Temerario and its technological and performance innovations that make it ‘fuoriclasse’: outstanding, in a class of its own. The newest hybridized model was formally presented by Automobili Lamborghini executives including President and CEO Stephan Winkelmann.Equipped with a twin-turbo V8 hybrid powertrain that redefines the very concepts of performance, driving pleasure and comfort, the Temerario is the second model in the Lamborghini High Performance Electrified Vehicle (HPEV) range to enter the Middle East market after the Revuelto[2] and completes the hybridization of Sant’Agata Bolognese’s line-up following the market debut of the Urus SE[3].
The Temerario presents itself as the new benchmark in the super sports car segment, thanks to class-beating performance. The new hybrid powertrain combines an entirely new twin-turbo V8 engine with three electric motors, providing a total power output of 920 CV. The twin-turbo V8 has been designed and developed from scratch in Sant’Agata Bolognese and is the first and only production super sports car engine able to reach 10,000 rpm. The performance is an absolute revelation: maximum speed of over 340 km/h (210+ mph), 0 to 100 km/h (0-62 mph) in just 2.7 seconds. Read More
Porsche Penske Motorsport faces its first race of the 2025 season this weekend (January 25-26). The 24 Hours of Daytona serves as the season opener for the IMSA WeatherTech SportsCar Championship. Competing as defending champions, the factory team brings two Porsche 963 hybrid prototypes to the Daytona International Speedway, aiming to demonstrate their prowess as true all-rounders in motorsport. Read More
Samsara Inc. announced a landmark integration with Mobilisights, the Data as a Service Company of Stellantis, one of the world’s largest vehicle manufacturers. The collaboration will provide businesses across Europe with seamless, hardware-free access to vehicle telematics data, enabling smarter fleet management and operational efficiencies. Samsara’s Connected Operations platform will integrate directly with Stellantis’ built-in telematics hardware, covering Stellantis’ brands including Alfa Romeo, Citroën, DS Automobiles, FIAT, Jeep®, Opel, Peugeot, and Vauxhall. The integration applies to most vehicles manufactured after 2024, plus select models from 2018–2024, spanning both electric vehicles (EVs) and commercial fleets.
Fleet operators will be able to connect Stellantis vehicles to Samsara’s platform without the need for additional hardware installation to gain instant access to critical data, such as GPS location, mileage, and fuel levels. With a simple Vehicle Identification Number (VIN) entry, onboarding a new vehicle is quick, seamless, and entirely remote. Read More
The Opel Corsa is driving from success to success. According to the 2024 registration figures from the Federal Motor Transport Authority, it is Germany’s best-selling small car for the fourth year in a row. However, this is no reason for Opel to rest on its laurels. Rather, the manufacturer is now making the small car bestseller even more attractive for customers – with the new special edition Opel Corsa YES. Following on from the successful YES edition last year, Corsa buyers can now choose from three exclusive colours. In Eukalyptus Green, Kobalt Blue and Kiss Red, the agile small car is even more eye-catching. In addition, numerous features from the uplevel GS trim line are included as standard at an attractive price and this while customers can choose between battery-electric, 48-volt hybrid or efficient combustion engine drive. For prices starting at €24,130 (all prices RRP including VAT in Germany), Corsa YES customers can easily configure and order their desired variant online in just a few clicks. This means there is a simple answer to the question whether there is a stylish, small everyday hero – as in the award-winning advertising campaign this is: “Yes, of Corsa!” Read More
Launched in 1938 by head of Citroën Pierre Boulanger, and pursued by Pierre Bercot, its successor from 1950 onwards, the VGD (VGD for “Véhicule à Grande Diffusion” or mass-production vehicle) project only comes to fruition 17 years later with the launch of DS 19 in October 1955. Three men in particular are involved in its design and development. The first, André Lefèbvre, an aeronautical engineer by training, is a passionate advocate of front-wheel drive, as well as aerodynamics, light-weight design and the centring of mass. The second, self-taught engineer Paul Magès, creates the hydraulic system. He invents the famous hydropneumatic suspension, together with the hydraulic powered steering, clutch and braking systems on the DS. Lastly, talented stylist, sculptor and painter Flaminio Bertoni, with his team of designers gives the DS its revolutionary and elegant lines. Read More
The UK government’s sale of collapsed energy firm Bulb is at the centre of focus of an appeal today as British Gas and E.ON seek a judicial review on the deal. Under the former Conservative government, an agreement was reached in October 2022 with the special administrators of Bulb for it to be acquired by Octopus Energy. Under the agreement, Bulb’s 1.5m customers were transferred to Octopus Energy.It was reported in July 2022 that Octopus was the only firm to submit a final offer bid for Bulb.
However, in 2023, Gas Trading, ScottishPower and E.ON all submitted applications seeking permission to bring a judicial review claim to challenge this decisions made by the Secretary of State for Energy Security and Net Zero (DESNZ) Read More
Just nine years after launching to the market, Octopus Energy has become the UK’s largest energy supplier, providing energy to more accounts than any other business. This is the first time the top position has changed since the energy retail market opened for competition in the ‘90s.
Octopus led the switching market in 2024, with nearly one million customers choosing to join from other suppliers – one new customer every 30 seconds*. This brings the company’s market share to c. 24%, with 12.9 million UK meters on supply, according to data from Cornwall Insight**.
The news comes as consumer organisation Which? once again names Octopus as a ‘Recommended Provider’ for an 8th consecutive year – the only energy company to ever achieve this feat.
The company’s unparalleled service is reflected in many surveys, but Which? is widely seen as the gold standard.
Octopus is not only great for customers, it’s loved by staff too. The company was named by Zensai as the best place to work in the UK, with very strong Glassdoor scores, and is included in the Sunday Times Best Places to Work list for 2024***.
Octopus Energy Group, which is valued at $9 billion, is often hailed as a UK business success story. Its relentless commitment to customer satisfaction, cutting-edge technology, and operational excellence has propelled it from a small UK challenger to a global energy and tech leader.
With over $2 billion in financial backing Octopus continues to innovate and expand at pace. In 2024 alone, it welcomed 4,750 new hires across the Group, bolstering its workforce to meet the needs of its rapidly growing customer base. Read More
More than 600,000 households in the UK with outdated Radio Teleswitch (RTS) meters must switch to smart meters in the next six months to avoid getting cut off, Octopus Energy has urged.
RTS equipment receives updates through Long Wave radio broadcast, the same radio frequency as the BBC uses for radio programming.
The BBC has announced plans to migrate unique Long Wave content to other broadcasting platforms – effectively ending RTS communication capabilities on 30th June 2025. Octopus Energy, the UK’s largest energy company, is fast-tracking upgrades for its customers, covering nearly a quarter of affected households. Additional engineers have been deployed to ensure all impacted properties can switch to smart meters before the deadline, minimising disruptions. Aside from keeping their heating on, switching to a smart meter can bring a myriad of benefits – better overviews of energy usage, access to smart tariffs and the opportunity to take part in free-energy periods when the grid has lots of green energy.
Over 2 million Octopus Energy smart meter customers have saved over £100 million by taking part in smart tariffs and schemes.. Read More
Octopus Energy’s generation arm, one of Europe’s biggest investors in renewable energy, has made its largest move in France by acquiring agrivoltaics developer OX2 France from OX2 AB. OX2 France is a trailblazer in agrivoltaics, combining solar energy generation with agriculture to maximise land use and boost biodiversity.
This powerhouse deal marks Octopus’ latest leap into the French market, with a pipeline of 21 projects in the works across Nouvelle-Aquitaine, Centre-Val de Loire, and Auvergne-Rhône-Alpes. If all projects in the current pipeline get built, the investment targets to develop close to 500 MW of capacity in France by 2031 – more than doubling its current capacity. The acquisition includes OX2 France’s entire market-leading team, adding additional invaluable expertise with a successful track record of developing projects. Read More
Baker Hughes Rig Count: U.S. U.S. -4 to 580 Canada +13 to 229
U.S. Rig Count is down 4 from last week to 580 with oil rigs down 2 to 478, gas rigs down 2 to 98 and miscellaneous rigs unchanged at 4
Canada Rig Count is up 13 from last week to 229, with oil rigs up 12 to 156, gas rigs up 1 to 73 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 Octo
ber 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 17 January 2025 | 580 | -4 |
| Canada | 17 January 2025 | 229 | +13 |
| International | December 2024 | 909 | -10 |
| Baker Hughes |
Ørsted presents an operating profit (EBITDA) for 2024 based on preliminary and unaudited reporting. EBITDA excluding new partnership agreements and cancellation fees is expected to total DKK 24.8 billion in 2024, in line with the latest guidance. The operational earnings from Offshore and Onshore were the main contributors and delivered in line with our expectations.
During Q4 2024, the development of the long-dated US interest rates led to a 75-basis-point increase in the weighted average cost of capital. This increase adversely impacted the value-in-use for the US portfolio, primarily the offshore wind projects, leading to an impairment of DKK 4.3 billion in Q4 2024.
Market-informed valuation indications for our seabed leases located off the coasts of New Jersey, Maryland, and Delaware, which reflect prevailing market uncertainties among other factors, lead to an impairment of DKK 3.5 billion in Q4 2024. While this impairment substantially reduces the book value of the seabed leases, we believe the leases continue to hold strategic optionality and value, based on the long-term potential of the US offshore market.
The Sunrise Wind project is progressing on a tight construction schedule and is navigating challenges related to supply chain and construction. The project follows on from Revolution Wind, which is currently under construction, including offshore installation work. Implementing learnings from Revolution Wind, such as the wind turbine installation rate, has led to a reassessment of the Sunrise Wind project to include schedule delays and increased costs. Additionally, we have updated our installation expectations for the first-ever US offshore HVDC system, including finalisation and installation of the jacket and export cables. The expected commissioning of the project has consequently been delayed into the second half of 2027. These developments, combined with considerably increased project costs relating especially to the monopile foundations to keep fabrication and installation on track, have led to higher cost expectations related to the execution of the Sunrise Wind project. The delayed commissioning and higher expected project costs will lead to an impairment of DKK 4.3 billion in Q4 2024.
The developments relating to the interest rate increase, seabed leases, and the execution of Sunrise Wind, will, in aggregate, result in a DKK 12.1 billion impairment in Q4 2024. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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