Global Energy/Automotive News to May 07, 2025
London, May 07, 2025 (Oilandgaspress) –- The U.S. Energy Information Administration (EIA) expects recent developments in global trade policy and oil production to contribute to lower global demand for petroleum products through 2026, contributing to lower oil prices than it previously forecast.EIA expects the Brent crude oil price to average about $66 per barrel in 2025 and about $59 per barrel in 2026, both significantly lower than the 2024 average of $81 per barrel.
EIA expects natural gas prices to increase to about $4.20 per million British thermal units (MMBtu) on average in the third quarter of 2025. That price is about 80 cents per MMBtu higher than the April average and almost double the price from last year. U.S. solar generation continues to increase the most in electricity generation in the STEO forecast, increasing by 34% in 2025 and 18% in 2026.. Read from source
Environmental Group Raises Alarm Oil Spill Hits Rivers Community, An oil spill has been reported in the Ikata community of Ahoada East Local Government Area, Rivers State, Nigeria. The spill, which occurred in the early hours of Monday, is believed to have originated from a 14-inch pipeline along the Okordia-Rumuekpe right of way, now operated by Renaissance Africa Energy Company Ltd (RAEC).
RAEC recently took over assets from Shell Petroleum Development Company (SPDC) in a $2.4 billion divestment deal that has raised hopes and concerns in equal measure across oil-producing communities.
Seplat Appointment of Mrs. Bashirat Odunewu: Seplat Energy has announced the appointment of Mrs. Bashirat Odunewu, Independent Non-Executive Director, as the new Senior Independent Non-Executive Director (“SINED”) of its Board, effective April 25, 2025. She succeeds Mr. Bello Rabiu, who stepped down to join the Board of NNPC Limited.
Mrs. Odunewu joined the Seplat Energy Board on May 18, 2022, during which time she has served as a Member of the Risk Management & HSSE Committee, Board Finance & Audit Committee, Nominations & Governance Committee, Statutory Audit Committee and Chairman of the Energy Transition Committee. She is currently the Chairman of the Board Finance and Audit Committee.
Mrs. Odunewu has 30 years of experience in the finance and banking industry, with a strong background in corporate banking, energy, natural resources, and infrastructure. She previously served as a C-suite executive at First Bank Nigeria Ltd and has held leadership roles overseeing international banking operations across multiple African countries and China.
KBR Celebrates NASA Super Nova Awards for 2024 Safety Excellence KBR announced today it has received NASA Super Nova Awards for 2024 Safety Excellence from the Johnson Space Center (JSC) Contractor Safety Forum on four contracts within NASA’s Human Exploration Division: the Mission Systems Operations Contract (MSOC), the Integrated Mission Operations Contract (IMOC), the Human Health and Performance Contract (HHPC), and the Extravehicular Activity Space Operations Contract (ESOC) as a major subcontractor to United Technologies Collins Aerospace. This prestigious award recognizes KBR’s outstanding safety performance over the past year.
The NASA Super Nova Award celebrates exceptional safety and health performance. KBR’s recognition across all four contracts reflects a deep, consistent commitment to operational safety and employee well-being throughout NASA’s Human Exploration Division. Additionally, the IMOC and HHPC teams were honored with the Contractor Safety Forum (CSF) Innovation Award for creative approaches that not only improve contract safety but also benefit the broader JSC community.
“KBR is honored to have been recognized by NASA for our strong track record of safety in space missions,” said Byron Bright, KBR Chief Operating Officer. “This achievement underscores our total dedication to delivering outstanding safety outcomes for NASA and highlights the culture of excellence that our teams have built working hand-in-hand with NASA.”
Across the MSOC, IMOC, HHPC and ESOC contracts, KBR delivers a wide range of mission-critical services, including mission control system operations, human spaceflight planning, occupational health support, and astronaut training. These contracts are vital to ensuring safe and successful space missions, with a focus on health across various operational areas.
Trucks Carrying Hydrogen and Prepared Food The long-awaited Expo 2025 Osaka, Kansai, Japan finally opened.
Under the theme of ”Designing Future Society for Our Lives,” the Expo brings together countries and corporations from around the world to showcase their visions and technologies for the future. That vision doesn’t stop at the pavilions.
The 7-Eleven convenience store at the Expo West Gate has installed hydrogen cartridges designed for easy transport.
The electricity generated by these hydrogen cartridges, developed by Toyota Motor Corporation and manufactured by Toyoda Gosei, is used to power a smoothie machine.
Visitors are drawn to the trial, saying it is a true Expo experience.
Behind the scenes was a new challenge: how best to transport the hydrogen cartridges.
Until now, the Toyota team has always transported the hydrogen cartridges for demonstration experiments, but this time they decided to use the 7-Eleven delivery network.
The hydrogen cartridges are being carried by supply trucks together with prepared foods and other convenience store products.
However, at the first transport test just one month before the Expo opening, some people voiced concerns about the safety of hydrogen, and new issues emerged.
How did they manage to reach opening day? Toyota Times News went behind the scenes to find out.
Kazakhstan’s options to meet OPEC+ production cut obligations Kazakhstan is considering its options for complying with the country’s OPEC+ obligations to cut production, after Saudi Arabia doubled down on its efforts to bring quota-cheats in line over the weekend. Kazakhstan, the largest over-producer in recent months, may be forced to make additional withdrawals from its oil fund by the fall to cover planned government spending amid lower prices, Halyk Finance said in a research note. The national oil fund’s revenue fell by 43% by the end of April from year earlier, as lower prices offset the increase in crude output, Halyk Finance said. Kazakhstan agreed at the May 3 meeting of the Organization of the Petroleum Exporting Countries and its allies to produce 1.5 million bpd in June, compared with 1.85 million bpd in March. The Energy Ministry did not specify how it would achieve that level of production, and noted that the $48.5 billion expansion of the Chevron-led Tengiz oil field is due to become fully operational this quarter.
Porsche Charging Lounge opens in Leonberg near Stuttgart A new Porsche Charging Lounge is now open in Leonberg, near Stuttgart. Like the five other brand-exclusive fast-charging stations, it offers very high charging performance at up to 400 kW, as well as a relaxed ambience and the central handling of charging costs via the Porsche Charging Service.
Leonberg’s fast-charging station is the sixth such exclusive location. Four other charging lounges are located in Germany – in Bingen am Rhein, Estenfeld near Würzburg, Ingolstadt, and Hamburg – while a fifth is in Koblach, in Austria. All electric Porsche models can be recharged at these around the clock. A total of six DC fast-charging points with up to 400 kW of power are available at the Leonberg site. Fully electric Porsche vehicles can take full advantage of their fast-charging potential: a current-generation Taycan, for example, can go from a 10 to 80 per cent state of charge (SoC) in 18 minutes. At 21 minutes, a Macan needs only slightly more time for the same charging process.
Porsche opens new headquarters in Cologne The Porsche esports factory squad has moved to new headquarters. From now on, the Porsche Coanda Esports Racing Team will contest its online races from the Cologne suburb of Ossendorf. The Porsche Esports Performance Center (PEPC) is located at the Licht Campus of Trilux, Germany’s market leader in professional lighting solutions, and a long-standing partner of Porsche Motorsport. The PEPC officially opened on Tuesday afternoon.The new 324-square-metre Porsche Esports Performance Center accommodates six professional racing simulators and an attached workstation for the team’s performance engineer. The facility also includes additional open workspaces, a meeting room, a fitness and chill-out zone, and a show car area. The PEPC is where the esports factory drivers train and contest races online rather than as part of live events.
Manufacture of the TABASKO material TABASKO (from the German for ‘tape-based carbon-fiber lightweight construction’) can reduce the use of plastic materials; the process developed by Porsche Engineering also allows the use of post-consumer recycled material. This makes vehicle construction a bit more sustainable. Lightweight construction is becoming increasingly important because safety technology, electronics, and increasing demands of comfort tend to increase the weight of vehicles. In addition, we are experiencing an ongoing switch to electric cars, which are usually heavier than vehicles with an internal combustion engine. To reduce weight elsewhere, the plastic polypropylene—known as PP for short—is used in the interior in most cases. It is comparatively inexpensive, easy to process, and can also be recycled relatively well. But it also has disadvantages: “Rigidity and heat resistance do not count among the positive properties of polypropylene,” explains Michael Johann, Specialist Project Manager for Body System Development. “Glass fiber is typically added to improve it.”
This glass-fiber-reinforced plastic is called PP-GFx. Many components of Porsche vehicles are made of it.
The big advantage of TABASKO is that modifications of that nature could be easily integrated into the industrial manufacturing process. The preliminary development of the new material has meanwhile been completed. The technical department responsible for the luggage trays has already signaled interest in series production for future vehicles. Discussions are currently ongoing with the plastic suppliers.
Xpeng Motors delivered 35,045 new vehicles in April Xpeng Motors announced its latest delivery results. In April 2025, Xpeng Motors delivered a total of 35,045 new cars, a year-on-year increase of 273% and a month-on-month increase of 6%. It is the only new force car company with a delivery volume of more than 30,000 for 6 consecutive months. Xpeng MONA M03 has been on the market for 8 months and has delivered more than 100,000 units in total; Xpeng P7+ has been on the market for 5 months and has recently completed the 50,000th new car rolling off the production line. From January to April 2025, Xpeng Motors has delivered a total of 129,053 new cars, a year-on-year increase of 313%. In April, Xpeng Motors has exceeded the 700,000 delivery milestone!
. Largest fleet of bespoke Flying Spurs commissioned by world class resort Bentley Motors proudly announces its latest global collaboration with a leading luxury hotel, underscoring the growing demand for luxury, chauffeur-driven experiences. The Galaxy Hotel in Macau, China – one of the world’s largest Forbes double five-star properties – has taken delivery of the largest fleet of bespoke Flying Spur Mulliner sedans to date with an official handover ceremony at the hotel on 29 April. The nine handcrafted four-door Bentleys extend the resort’s legacy of superlative transport and bespoke luxury experiences, providing guests with a seamless blend of performance, elegance, and unparalleled craftsmanship.
Mulliner – Bentley Motors’ bespoke division – continues to set the standard in handcrafted automotive luxury. The Flying Spur Mulliner offers a striking visual distinction, combining bespoke craftsmanship with the Ultra Performance Hybrid powertrain as standard. The Galaxy Hotel collaborated with the team at Mulliner to meticulously design the luxury sedans, offering a sense of timeless elegance crafted at the renowned Dream Factory in Crewe.
Lamborghini reports growth in Q1 2025 Lamborghini continues its positive trend of the last eight years, delivering strong financial and commercial results in the first quarter of 2025, despite uncertainties related to the current geopolitical context and the recent tensions in international trade. In Q1 2025, the company delivered 2,967 cars with a revenue of €895.2 million, up 29.6% on the previous year: an operating income of €248.1 million (up 32.8% compared to the same period in 2024).
Stephan Winkelmann, Chairman and CEO of Automobili Lamborghini, remarked: “The future is in our hands. It’s up to us to build our own resilience. The results from the first quarter confirm the strength of our brand, even in an uncertain economic context. Global demand remains high, and the figures recorded demonstrate once again the validity of our strategy to combine performance, innovation and exclusivity, while keeping quality and personalization at its core.”
The strong performance is driven by the full production capacity of the Revuelto[1], Lamborghini’s first V12 plug-in hybrid model, and by the arrival of the Urus SE[2], the new hybrid version of the Lamborghini Super SUV, which is contributing to attracting new customers and strengthening the brand’s global positioning.
Kathrin Daecke elected as new board member of the Catena-X association Kathrin Daecke, Director of Controlling, Digitalisation, Risk & Cost Management & Aftersales Purchasing, has been appointed as a new member of the Catena-X executive board. She succeeds Rouven Rüdenauer, who has held the position since February 2023 and assumed the role of CIO of Mercedes-Benz Vans in March 2025. The comprehensive rollout of Catena-X across the Mercedes-Benz supplier network is a key success factor for effective networking within the automotive industry – and is expected to gain further momentum with Daecke as an experienced manager in purchasing. Additionally, Matthias Schneider, Vice President IT Research and Development & Procurement will share responsibility for Catena-X at Mercedes-Benz. This will allow the purchasing and IT teams to continue working closely together on the use and further development of the Catena-X data ecosystem. The tight integration of both areas of expertise promotes effective exchange of data between Mercedes-Benz and its supplier network.
Mercedes-Benz Launch Europe-Wide Partnership for Smart Home Charging Mercedes-Benz and The Mobility House announce a Europe-wide cooperation for advanced Vehicle-Grid-Integration (VGI) solutions. Both companies are combining their expertise in electromobility and charging technologies to intelligently connect Mercedes-Benz electric vehicles with the energy system. The partnership includes smart charging offers for private households, providing both unidirectional (Vehicle-1-Grid/V1G) and bidirectional (Vehicle-2-Grid/V2G) solutions. V1G involves charging the vehicle intelligently and as cost-effectively as possible, while V2G allows electric vehicles to feed electricity back into the grid, achieving higher revenues for customers through energy and grid services and integrating more renewable energy into the power grid.
The Mobility House brings its core competencies in the integration, aggregation, and marketing of electric vehicle batteries in energy markets into this strategic partnership. Mercedes-Benz leverages its technological leadership in the automotive sector to offer customers a comprehensive end-to-end solution seamlessly integrated into the automaker’s charging ecosyste
Through strategic collaboration in smart charging applications, Mercedes-Benz and The Mobility House are advancing their sustainable business strategies. The joint goal is to promote sustainable mobility. Smart home charging solutions are designed to enable customers to charge renewable energy at home, thereby reducing their carbon footprint.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $58.85 | Down |
| Crude Oil (Brent) | USD/bbl | $61.92 | Down |
| Bonny Light 06/05/25 CBN | USD/bbl | $63.49 | Down |
| Dubai | USD/bbl | $60.32 | Down |
| Natural Gas | USD/MMBtu | $3.59 | Up |
| Murban Crude | USD/bbl | $62.42 | Down |
| OPEC basket 06/05/25 | USD/bbl | $61.81 | Up |
5 million Mercedes-Benz Sprinter sold in 30 years Mercedes-Benz Vans is celebrating a milestone with the production of five million Sprinter vans globally. Assembled at the company’s facility in Charleston, South Carolina, the five millionth vehicle – an all-electric eSprinter – has now been handed over to FedEx, a long-standing Mercedes-Benz Vans customer. The event not only underscores the enduring success of the Sprinter but also highlights Charleston’s crucial role in Mercedes-Benz’s global manufacturing network. For nearly 20 years, the Charleston plant has played a vital role for our Sprinter in North America.
The landmark vehicle for FedEx joins their growing global fleet of Mercedes-Benz vans, both conventionally and electric powered. This achievement emphasizes the Sprinter’s enduring popularity worldwide and reflects Mercedes-Benz Vans’ ongoing commitment to innovation, quality, and craftsmanship in the light commercial vehicle sector.
Baker Hughes Rig Count: U.S. -3 to 584 Canada -8 to 120
U.S. Rig Count is down 3 from last week to 584 with oil rigs down 4 to 479, gas rigs up 2 to 101 and miscellaneous rigs down 1 to 4.
Canada Rig Count is down 8 from last week to 120, with oil rigs down 7 to 74, gas rigs down 1 to 46 and miscellaneous rigs unchanged at 0.
| Region | Period | Rig Count | Change |
| U.S.A | 02 May 2025 | 584 | -3 |
| Canada | 02 May 2025 | 120 | – 8 |
| International | April 2025 | 891 | -8 |
Harbour Energy takes Final Investment Decision: Harbour and its partners – Pan American Energy, YPF, Pampa Energia and Golar LNG – have taken Final Investment Decision (FID) for the Southern Energy floating liquefied natural gas (FLNG) export project in Argentina.
Harbour has a 15% interest in the project which envisages deploying two of Golar LNG’s FLNG vessels – the Hilli Episeyo and MK II – off the coast of the Rio Negro province. The project is expected to have processing and export capacity of c.6 million tonnes per year of LNG, equivalent to 27 million cubic metres per day (or 1.0 billion cubic feet per day) of natural gas.
The Southern Energy partners are targeting production start-up from the Hili Episeyo around year-end 2027 with the MK II expected to commence operations end 2028. Harbour’s capex requirement to the point of commercial operations is expected to be c.$100 million. Under the recently enacted legislation, the ‘RIGI’ (Régimen de Incentivo para Grandes Inversiones), Southern Energy has been granted certain investment incentives including dollarisation of revenues after three years of production.
Harbour Energy to cut 250 jobs in Aberdeen Harbour Energy has revealed plans to axe around 250 jobs in Scotland as the firm laid the blame on “punitive” government measures.
The oil and gas firm said the cuts – about a quarter of its workforce in Aberdeen – come as part of a review of its UK operations.
The job losses are on top of 350 roles that were cut by the firm in 2023. Harbour Energy has been openly opposed to the windfall tax, or the Energy Profits Levy, which was brought in by the previous Conservative government and then extended after Labour came to power last year.
The company’s recent financial results showed it made pre-tax profits of 1.2 billion US dollars (£898 million) in 2024, but this was decimated by what it claims was an 108% effective tax rate, leaving it with post-tax losses of 93 million US dollars (£69.6 million).
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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