Global updates and expert commentary on the energy and automotive sectors
London, May 12, 2025 (Oilandgaspress) –- Oil futures climbed to a three-week high after US-China agreed to reduce most of the tariffs they had imposed during their economic tug-of-war. The deal, which includes a substantial cut of up to 115% in reciprocal tariffs, is being hailed as a major turning point for global trade flows..Markets reacted swiftly and positively to the news of progress between Washington and Beijing. Brent crude futures jumped to over $65 per barrel, while WTI followed suit, topping $62. . Read from source
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $62.77 | Up |
| Crude Oil (Brent) | USD/bbl | $65.60 | Up |
| Bonny Light 09/05/25 CBN | USD/bbl | $64.89 | Up |
| Dubai | USD/bbl | $61.53 | Down |
| Natural Gas | USD/MMBtu | $3.78 | Up |
| Murban Crude | USD/bbl | $65.76 | Up |
| OPEC basket 09/05/25 | USD/bbl | $63.87 | Up |
Market volatility drives China’s crude stockpiling China’s seaborne crude imports continued to climb in April, reaching an estimated 10.9 mbd—the highest monthly total since August 2023. This surge was initiated by concerns over potential supply disruptions amid tightening US sanctions, prompting Chinese refiners to ramp up bookings and bolster onshore inventories. But steadily falling prices over recent months are likely to support and prolong this pattern. Crude stock builds in China’s onshore tanks accelerated significantly through April. The average build rate exceeded 1.1 mbd over the five weeks ending May 4—a notable uptick from March’s pace. While March’s build was concentrated in Shandong and driven by Iranian crude (see blog link), this latest wave saw approximately 80% of the increase occur outside Shandong, led by state-owned trading arms capitalising on international price swings.
As of May 4, China’s majors-owned crude tank utilisation rate stood at 62%, suggesting ample capacity remains for further stockpiling. With seasonal refinery maintenance ongoing and strategic restocking underway, inventory builds are expected to continue into Q3. The recent Saudi-led OPEC+ agreement to increase output in June—following sharp OSP cuts for Asian buyers in May—along with mounting oversupply in the Atlantic Basin, may further incentivise Chinese purchases for mainstream barrels.
Tata Inaugurates Advanced Vehicle Scrapping Facility in Kolkata Tata Motors, India’s largest commercial vehicle manufacturer, today launched their registered vehicle scrapping facility (RVSF) in Kolkata. This marks the launch of the company’s eighth RVSF across the country. Named ‘Re.Wi.Re – Recycle with Respect,’ this cutting-edge facility is designed to sustainably and safely dismantle up to 21,000 end-of-life vehicles annually. The RVSF will be operated by Tata Motors’ partner, Selladale Synergies India Pvt. Ltd, and is equipped to handle the scrapping of passenger and commercial vehicles, along with two-wheelers and three-wheelers, across all brands.
The inauguration ceremony was graced by Mr. Snehasis Chakraborty, Hon’ble Minister of Transport, Government of West Bengal, Mr. Firhad Hakim, Mayor of Kolkata, Hon’ble Minister of Urban Development & Municipal Affairs, Government of West Bengal, who joined the event virtually and Mr. Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors Commercial Vehicles, along with other dignitaries from the Government of West Bengal and Tata Motors. The company now operates registered vehicle scrappage centres in Jaipur, Bhubaneswar, Surat, Chandigarh, Delhi NCR, Pune and Guwahati. The Kolkata facility is the third Re.Wi.Re in eastern India, allowing better accessibility to customers in the region.
Mitsubishi Heavy Industries Increases Dividends, and Releases FY2025 Guidance Mitsubishi Heavy Industries, Ltd. (MHI, TSE Code: 7011) announced that order intake increased 5.8% year-on-year to ¥7,071.2 billion in the fiscal year ended March 31, 2025. Revenue rose 7.9% to ¥5,027.1 billion year-on-year, resulting in profit from business activities (business profit) of ¥383.1 billion, a 35.6% increase over the previous fiscal year, which represents a profit margin of 7.6%. Profit attributable to owners of parent (net income) was ¥245.4 billion, an increase of 10.6% year-on-year, with a profit margin of 4.9%. EBITDA was ¥541.3 billion, a 25.1% increase over FY2023, with an EBITDA margin of 10.8%, up 1.5 percentage points year-on-year.
In Energy, order intake increased by ¥210.2 billion YoY, which reflected continued strong demand in Gas Turbine Combined Cycle (GTCC) and Aero Engines. Contracts for 25 large frame gas turbine units were concluded during FY2024, the majority of which were from customers in the Americas. Revenue increased by ¥92.1 billion YoY. The largest gains were seen in GTCC, which worked to execute its sizeable backlog, and Aero Engines. Segment business profit increased by ¥55.4 billion YoY due to increased revenue and higher margins in GTCC, as well as increased revenue and the rebound from one-time expenses incurred in FY2023 in Aero Engines, together with stable performance in Nuclear Power.
In P&I, order intake and revenue increased by ¥117.0 billion YoY and ¥18.8 billion YoY, respectively, due to favorable performance in Metals Machinery and Machinery Systems. Higher revenue and margins in Metals Machinery and increased revenue in Machinery Systems helped to raise segment business profit by ¥14.8 billion YoY.
Alpine and Prima Pramac Yamaha MotoGP to celebrate the brand’s anniversary Alpine, the main partner of Prima Pramac Yamaha MotoGP, is to display an anniversary livery for the 2025 French MotoGP Grand Prix. Unveiled on 8 May 2025 by Jack Miller and Miguel Oliveira and styled by Alpine’s design team, this exclusive livery combines heritage, boldness and agility.
True to the vision of founder Jean Rédélé, who believed it possible to combine performance with elegance, this special livery proudly displays the colours of the French flag that have been Alpine’s signature for decades. The use of blue, white and red echoes the first A106s presented by Jean Rédélé in 1955 in front of the historic Renault factory building in Boulogne-Billancourt.
This design also echoes the A424, Alpine’s Hypercar competing in the FIA World Endurance Championship, creating continuity and consistency between Alpine’s involvement in various disciplines while highlighting the historic importance of the Le Mans circuit for the brand. The commemorative badge marking Alpine’s 70th anniversary affixed to the front of the motorcycle completes this original graphic scheme.
Announcement of awards in predefined areas (APA) 2025 The Ministry of Energy announced APA 2025 on 9 May 2025, encompassing the predefined areas with blocks in the Norwegian Sea, Norwegian Sea and Barents Sea.
The deadline to apply for APA 2025 is 12:00 noon on Tuesday, 2 September 2025.
Applicants are encouraged to submit in good time before the deadline.
Awards are expected during the first quarter of 2026. Since APA 2024, the predefined areas (APA acreage) have been expanded by 68 blocks in the Barents Sea and 8 blocks in the Norwegian Sea. Applications can be submitted for all available blocks or parts of blocks within the predefined areas. Blocks or parts of blocks that become available less than 3 months prior to the application deadline, cannot be applied for. That means that all acreage approved for relinquishment in the period up to three months prior to the application deadline is considered to be announced as of the application deadline.
Saab grows in Gothenburg and establishes new facility As a result of the increased demand for radar and sensor systems and a high recruitment rate, Saab is expanding its operations in the Gothenburg region in Sweden with another facility in Mölnlycke, Härryda municipality. This enables Saab to continue to grow and increase its delivery capacity in the region
Saab in Gothenburg develops and produces airborne and ground-based radar- and sensor systems such as the GlobalEye airborne early warning and control aircraft and the Giraffe radar family. Saab has already expanded its production capacity for radar and sensors by establishing new facilities at a number of sites, including in Halmstad in Sweden, Finland and the United Kingdom.
in order to meet the high demand for our world-leading capabilities, we are expanding our operations in the Gothenburg region with additional office space and production capacity. Gothenburg has a strong cluster of microwave competence as well as universities and other industry. We look forward to continuing to grow and create jobs in the region,” says Carl-Johan Bergholm, Head of Saab’s business area Surveillance.
Saab will keep its existing Gothenburg site in Kallebäck and will add another multifunctional facility with capacity for around 500 work stations in Mölnlycke. Saab currently has around 3,200 employees in Gothenburg.
Baker Hughes Rig Count: U.S. U.S. -6 to 578 Canada -6 to 114
U.S. Rig Count is down 6 from last week to 578 with oil rigs down 5 to 474, gas rigs unchanged at 101 and miscellaneous rigs down 1 to 3.
Canada Rig Count is down 6 from last week to 114, with oil rigs down 6 to 68, gas rigs unchanged at 46 and miscellaneous rigs unchanged at 0.
| Region | Period | Rig Count | Change |
| U.S.A | 09 May 2025 | 578 | -6 |
| Canada | 02 May 2025 | 114 | – 6 |
| International | April 2025 | 891 | -8 |
Ford Reports First Quarter 2025 Financial Results First-quarter revenue of $40.7 billion; net income of $471 million; adjusted EBIT of $1 billion; operating cash flow was $3.7 billion, adjusted free cash flow was a use of $1.5 billion
Improvements in cost and quality favorably contributed to performance in the quarter.
The company estimates a tariff-related net adverse adjusted EBIT impact of about $1.5 billion for full year 2025, subject to ongoing tariff-related policy developments
Due to tariff-related uncertainty, company suspends financial guidance, including full year adjusted EBIT and adjusted free cash flow
The company posted first-quarter revenue of $40.7 billion, a 5% decrease from the same period a year ago, as a result of a reduction in wholesales stemming from a planned shutdown in certain plants related to new product launches and inventory rebalancing measures. Net income was $471 million; adjusted earnings before interest and taxes was $1.0 billion.
Cash flow from operations in the first quarter was $3.7 billion, and adjusted free cash flow was a use of $1.5 billion. At the end of the quarter, Ford had $27 billion in cash and $45 billion in liquidity. Additionally, in April, Ford successfully renewed its $18 billion corporate credit facilities for another year.
Ford Pro generated $1.3 billion in EBIT with a margin of 8.6% on $15.2 billion in revenue. The EBIT change from a year ago primarily reflects a 14% decline in wholesales due to planned downtime and unfavorable fleet pricing. Ford Pro ended the first quarter with 675,000 paid subscriptions, up 4% sequentially.
Ford Model e reported a first-quarter EBIT loss of $849 million. The segment remains focused on improving gross margins and exercising a disciplined approach to investments in battery facilities and next-generation products. U.S. retail sales grew 15% compared to a year ago as the Ford Power Promise campaign gave more customers access to home chargers and standard installation.
In the first quarter, Ford Blue reported $96 million in EBIT, down from a year ago due to expected volume decline and adverse exchange. Segment revenue declined 3% to $21 billion. Iconic nameplates such as F-Series and Bronco, continue to lead their respective segments.
Ford Credit reported first-quarter earnings before taxes (EBT) of $580 million, up significantly compared to a year ago. In the quarter, Ford Credit paid a $200 million distribution to its parent.
Norman Foster Foundation and Porsche ‘Gateway to Venice’s Waterway’ is the name of the first result of the creative collaboration between the Norman Foster Foundation and Porsche. Architects from the Foundation and designers from the sports car manufacturer have worked together on the future of urban mobility. The result is an unusual construction that represents the vision of a transportation hub for Venice. The installation is part of Porsche’s design and art initiative, ‘The Art of Dreams’ and will be shown during the Biennale vernissage.‘Gateway to Venice’s Waterway’ is a response to the current transport challenges facing the Italian port city and aims to initiate a discourse on sustainable urban change. The 37-metre-long installation is the physical manifestation of the intersection between design and architecture and is also reminiscent of Venice’s historic network of bridges. The visual hub acts as a gateway to e-mobility by creating a connection to new electric means of transportation on land and water. These include water bikes (Schiller bikes) and electric sports boats (Frauscher x Porsche 850 Fantom Air with the all-electric drive of the Porsche Macan Turbo). During the opening week of the Biennale, these will be used as emission-free mobility solutions. Other alternative ideas for urban transportation will also be on display, developed by students from Style Porsche and Studio F.A. Porsche Zell am See.
Porsche Announcel change to its Executive Board Porsche AG is continuing the long-planned generational change to its Executive Board. On 19 August 2025, Vera Schalwig (45) will assume responsibility for the Human Resources and Social Affairs division, succeeding Andreas Haffner (59). At the same time, Joachim Scharnagl (49) will take over the Procurement division from Barbara Frenkel (62). Schalwig currently heads Human Resources at Porsche AG’s headquarters in Stuttgart-Zuffenhausen, while Scharnagl is Head of Procurement for New Vehicle Projects and Supplier Management.As of 1 July 2025, Dr Michael Steiner (60) will also take on the role of Deputy Chairman of the Executive Board. He has been Board Member for Research and Development since 2016. In this context, he will relinquish the leadership of Group Development in the Volkswagen Group.
The gear knob of the 908/03 Spyder In the Porsche 908/03 Spyder from 1970, a small component ensures the last few grams of weight savings: a gear knob made of mahogany.“The car’s gear knob measured around 33.5 cubic centimeters in volume,” explains 92-year-old Peter Falk, who was in charge of advance and motorsport development at Porsche in the 1960s. The material was selected on the basis of its specific weight. Aluminum (2.7 g/cm³), magnesium (1.8 g/cm³), and plastic (1.4 g/cm³) are much heavier than mahogany at around 0.7 g/cm³. The special structure of the wood also makes it a unique material. While the same gear knob in aluminum would weigh 90 grams, the mahogany gear knob of the 908/03 only weighs 24 grams, which represents weight savings of nearly 70 percent.The wooden ball was present in the cockpit of many race cars up to 1971. With the minimal weight eliminated in the European Hill Climb Championship in 1967, things began to heat up in the field of lightweight design. Developers of the 908/03 faced a unique challenge: to apply the ultra-lightweight design of the hill climb cars to long-distance vehicles. With a three-liter, eight-cylinder engine, the 545-kilogram and 257 kW (350 PS) 908/03 Spyder competed in the 1970 Targa Florio – and won. The nimble car was successful again at Nürburgring, thanks in part to the mahogany knob, which is much like a common thread through the history of Porsche and always appears in applications in which every gram counts.
The lightweight philosophy lives on to this day even off the racecourse.
Dr. Werner Tietz takes over as head of Volkswagen Group R&D Dr. Werner Tietz will assume the additional role of Head of Group Research and Development at the Volkswagen Group as of July 1, 2025, alongside his responsibilities as Member of the Executive Board for Research and Development at SEAT S.A. He succeeds Dr. Michael Steiner, who will take on the additional position of Deputy Chairman of the Executive Board of Porsche AG, in addition to his current role as Member of the Executive Board for Research and Development at Porsche AG. Both members of the Executive Board members will hold these positions in a dual capacity.
“With his vision, technical expertise, and more than three decades of experience within the Volkswagen Group, Werner Tietz has played a key role in shaping the innovative strength of brands such as Audi, Porsche, Bentley and SEAT/CUPRA. His work stands for forward-looking development, from sustainable materials to electrification strategy. With this extensive expertise, he will continue to drive forward research and development at the Volkswagen Group,” says Dr. Oliver Blume, CEO of the Volkswagen Group.
“With his deep technological understanding and strategic foresight, Michael Steiner has made a significant contribution to positioning the Volkswagen Group as a future-oriented mobility group. This includes the development of high-performance electrical and electronic architectures, the focus on software-defined vehicles, and the opening up to global technology partnerships. His work has been important for key decisions in the areas of automotive software, batteries, and autonomous driving. I would like to personally thank him for his commitment to the Volkswagen Group. He will also bring this commitment to his expanded role at Porsche as Deputy Chairman of the Executive Board,” Dr. Oliver Blume continued.
First Actros L with ProCabin taken over by Mercedes-Benz Trucks Daimler Truck Italia has delivered the first new Mercedes-Benz Actros L ProCabin to the Torello Group. This marks the start of a new chapter in the cooperation between the two companies. The Actros L ProCabin is the top-of-the-range model in the brand’s heavy-duty truck segment and has been developed to offer maximum comfort, efficiency and safety. With the acquisition of these vehicles from the 2025 model year, Torello, a leading provider of transport and integrated logistics, is taking another step towards the future. The company has always stood for customized, high-quality and sustainable services. The delivery was carried out with the support of the Daimler Truck Retail site in Piacenza.
The new Mercedes-Benz Actros L ProCabin
The Mercedes-Benz Actros L offers a new, aerodynamic cab design that reduces fuel consumption by up to 3% compared to the previous model. The interior is designed for comfort and ensures relaxing breaks with many practical functions. The third-generation OM 471 engine combines high efficiency with performance. The Predictive Powertrain Control system optimizes the driving style by predictively adjusting the speed and selecting the ideal gear in conjunction with PowerShift Advanced. Numerous safety assistance systems offer additional support and contribute to a safe driving experience. The Actros L ProCabin also sets standards in terms of safety and digitalization: the second-generation MirrorCams not only improve all-round visibility, but also aerodynamics. The system is complemented by a range of advanced driver assistance systems, including lane departure warning, distance control and emergency braking assistants, which effectively support the driver and contribute to a noticeably safer driving experience.
FIAT assembles first pre-production units of the New 500 Hybrid at Mirafiori plant in Turin FIAT has reached an important milestone with the assembly of the first pre-production units of the all-new Fiat 500 Hybrid at its Mirafiori plant in Turin. The start of this phase marks a crucial step in the model’s industrialization process, which is on track to begin production by the end of the year. With the goal of the month of November.
With the 500 Hybrid, FIAT is expanding its lineup and reaffirming its long-standing connection to Italy — its people and its values. The new model embodies FIAT’s social relevance and its deep-rooted bond with its country and its communities, offering a solution tailored to contribute to the transition towards a more sustainable mobility.The New 500 will be equipped with the Hybrid engine, giving consumers across Europe and beyond the opportunity to once again choose our iconic city car. The 500 remains one of the best ambassadors of “Made in Italy”, with over 70% of the units produced at Mirafiori and exported outside Italy.
The first pre-production assembly units are tangible proof that FIAT is on track to begin production in Q4.
By placing design, production, and innovation firmly in Italy, FIAT continues to write a story where local roots meet global vision — with the 500 at its heart.
Renault Group strengthens value sharing For the fourth year in a row, Renault Group is renewing its employee share ownership plan. This initiative reflects the Group’s commitment to strengthening value sharing with its employees and involving them more closely in its performance and long-term strategy.
A broadly accessible initiative
Nearly 100,000 eligible employees across 30 countries will receive three free shares, granted unilaterally by the company with no investment required. This employee share ownership program builds on the previous initiatives launched since the start of the Renaulution. By placing employees at the heart of this approach, the Group reaffirms both its social commitment and its belief that employees are key drivers of its long-term success.
Shares at a preferential price
From May 12 to May 30, 2025, eligible employees in 24 countries will have the opportunity to purchase Renault S.A. shares at a preferential price of €31.34, thanks to a 30% discount applied to the reference price of €44.76. This discount applies to all shares subscribed as part of the plan.
An additional company contribution further enhances the offer: for the first share purchased, each employee will receive three free shares. This means that for an investment of €31.34, the employee will receive a total of 7 shares (representing a value of €313.32 based on the reference price), of which 6 are offered by Renault Group — a gross benefit of €281.98.
Hyundai Unparalleled EV Experience in New IONIQ 9 Marketing Campaign, “Space to Connect” The campaign features a 30-second hero ad titled “Hello, Space,” showing how IONIQ 9 brings people together in a meaningful way with class-leading interior space[i], advanced tech and lifestyle versatility. An additional 30-second companion spot titled “Inner Space” will also run throughout the year, highlighting interior tech and range capabilities. “The IONIQ 9 is more than just a vehicle; it’s a space where life happens,” said Sean Gilpin, chief marketing officer, Hyundai Motor America. “With ‘Space to Connect,’ we’re highlighting how our all-electric SUV serves as a hub for connection—whether it’s family road trips, remote work sessions or simply enjoying a moment of tranquility.”
Ad buys will include a variety of high-profile placements on national TV including during the NBA Playoffs and NHL Playoffs. Digital video will stream across Hulu, Amazon and Netflix in addition to audio and podcast airings across top platforms like iHeart, Spotify, SiriusXM and Pandora. Social will inform and engage targeted audiences on various social media platforms. Content will also include online video, CRM, owned social media, experiential and more.
“This campaign connects one of Hyundai’s most future-forward vehicles with their people-forward mentality, showing that the key to their innovation is a better driving experience for everyone,” said Jason Sperling, chief creative officer, INNOCEAN USA. “The simple, ethereal creative approach to the IONIQ 9 campaign is meant to connect a more ‘science fiction’ aesthetic and feeling to utilitarian differences like a roomy third row, something lacking in EVs.”
A majority of the ad utilized a “day for night” filming technique used in movies to create an otherworldly atmosphere. Mars-like visuals paired with floating objects offered distinctive, memorable imagery and delivered a fresh, premium and futuristic creative approach to the overall campaign.
The “Space to Connect” campaign was developed in collaboration with Hyundai’s agency of record, INNOCEAN USA, while its media agency, Canvas, coordinated the media buys.
Building on the award-winning success of IONIQ 5 and IONIQ 6, the IONIQ 9 is a premium three-row SUV that delivers over 300 miles of all-electric range regardless of trim[ii]. ‘Built to Belong,’ IONIQ 9 accommodates up to seven occupants in its spacious interior while providing innovative features that cater to everyone’s individual needs. With its expansive interior, cutting-edge design, extensive safety features, and fast-charging technology, IONIQ 9 is ideal for modern family life.
Eni Announce new fixed rate bond offering Eni intends to place today a new fixed rate bond in USD with a 10-year maturity (the “Bond”). The Bond is to be issued in accordance with the resolution adopted by the Board of Directors on April 4, 2024, and is aimed to maintain a well-balanced financial structure and the proceeds will be used for Eni general corporate purposes.
The Bond, targeted to institutional investors, will be placed subject to market conditions.
For the issuance of the Bond, Eni has mandated a syndicate composed of Barclays, BofA Securities, Citigroup, Goldman Sachs International, IMI – Intesa Sanpaolo, J.P. Morgan, Morgan Stanley, Natixis, Santander, SMBC, Wells Fargo Securities, who will act as joint bookrunners.
Subsea 7 S.A. announces changes to Board composition Subsea 7 S.A. announced the election of Lucia Andrade as a Non-Executive Director at the 2025 annual general meeting of shareholders (AGM) and the decision of Jean Cahuzac to retire from his position as Non-Executive Director with immediate effect. Jean has served on the Board since 2008, and was also CEO of Subsea7 until 31 December 2019. The Board would like to thank him for his commitment and valuable contribution to Subsea7.
Jean was a member of the Compensation Committee and the Tender Committee and changes to committee memberships will be discussed at the next meeting of the Board, later this month.
Subsea 7 S.A.also announced that, at the 2025 annual general meeting of shareholders (AGM) on 8 May 2025, all resolutions were approved, including the payment of a dividend of NOK 13.00 per common share, to be paid in two equal instalments.
TMS Transportation and Climate Change Conference 2025 Agenda The Maritime Standard has confirmed the programme for the third edition of the Transportation and Climate Change Conference (TACCC), which will take place on Thursday, 25th September 2025 at the Saadiyat Rotana Resort in Abu Dhabi. Building on the momentum of previous editions, TACCC 2025 will once again bring together key industry players from across the transport spectrum to explore practical steps toward achieving sustainable, low-carbon transportation systems.
This year’s event will be held under the theme “Accelerating Sustainable Transportation: Innovation, Policy & Climate Action,” reflecting the growing urgency to align operational realities with climate goals across the global transportation sector. The programme has been developed to provide participants with actionable insights into policy direction, regulatory updates, technological developments, and investment priorities, all essential to reducing emissions and enhancing environmental performance.
The conference will open with a keynote address by a prominent industry leader, setting the tone for a day of focused discussion. This will be followed by two dedicated sessions, each exploring critical aspects of decarbonisation and innovation in transportation.
The first session, titled Net-Zero Maritime Transport – Policy, Investment & Global Roadmap, will examine the role of policy frameworks, green financing mechanisms, port decarbonisation strategies, and the prospects for alternative fuels. The session will also take into account the broader context of ongoing geopolitical uncertainties and their impact on investment flows and global regulatory alignment. Following individual speaker presentations, a panel discussion will bring together key stakeholders to explore synergies and challenges in achieving net-zero goals across the transport sector.
The second session, Innovations & Technology for Decarbonised Mobility, will focus on the integration of emerging technologies to drive progress. Topics will include the electrification of transport systems, digital transformation, artificial intelligence, and scalable infrastructure for multimodal networks. Speakers will assess how innovation can support compliance, improve operational efficiency, and reduce the sector’s carbon footprint. This session will also conclude with a panel discussion to enable a comprehensive exchange of views and practical experiences from across the industry.
Each session will feature a panel of expert speakers representing industry, government, finance, and technology. Their insights will offer a comprehensive view of current challenges and practical pathways to accelerate climate action in transportation. Full speaker details will be announced in the coming weeks.
Dana Recognized as ‘2025 Educational Partner of the Year’ by HDA Truck Pride Dana Incorporated was named the 2025 Educational Partner of the Year by HDA Truck Pride, the largest independent provider of parts and services for the commercial vehicle aftermarket in North America.
“Dana has set the standard for training with their webinars, hands-on sessions, and in-person training. Additionally, the Dana team has contributed LMS [Learning Management Software] courses directly to HDA Truck Pride University,” said Tina Hubbard, president and CEO at HDA Truck Pride. “Dana’s dedication makes them an outstanding partner in training support.”
Martin Redilla, education manager at HDA Truck Pride, said, “Dana’s approach to useful tools and sessions set a new industry benchmark. Dana is leading the way in industry training.”
“Dana is truly honored to receive the 2025 Educational Partner of the Year award from HDA Truck Pride,” said Bill Nunnery, Dana’s senior director of aftermarket sales and marketing. “This recognition reflects the dedication and hard work of our team. Collaborating with exceptional partners like HDA Truck Pride has been a cornerstone of our success. Their commitment to excellence and innovation inspires us to continually enhance our training programs to support the commercial vehicle aftermarket industry.”
Polestar reports Q1 2025 revenue growth of 84% Polestar reports select financial and operational results for the quarter ended March 31, 2025 (Q1 2025). Gross margin improved by 15ppts to 7% versus Q1 2024
Net loss reduced by 31%; an Adjusted EBITDA loss improvement of 46% year-on-year
Over USD 900 million worth of financing facilities secured or renewed in Q1 2025
Cash position of USD 732 million as of end Q1 2025
Key financial highlights
| (in millionsof U.S. dollars) | For the three months ended March 31, | ||
| 2025 | 2024 | Change % | |
| Revenue | 608 | 330 | 84.2 |
| Gross margin % | 6.8% | -7.7% | +14.5ppts |
| Net loss | (190) | (276) | (31.2) |
| Adjusted EBITDA | (115) | (212) | (45.7) |
| Cash balance | 732 | 784 | (6.6) |
Retail sales totaled an estimated 12,304 cars, up 76.4% YoY supported by a growing uptake of newer models
Revenue increased by USD 278 million, up 84.2% YoY, driven predominantly by higher volumes and favorable shift in the product mix
Gross margin at a positive 6.8%, an improvement of 14.5ppts YoY, due to a growing share of higher margin models, however impacted by more competitive pricing compared with the Q1 2024 level
Net loss of USD 190 million, a decrease of USD 86 million, driven by gross profit improvement and fixed cost savings and a positive foreign exchange impact within net finance expenses, partially offset by our share of the losses in the Joint Venture (JV) with Hubei Xingji Meizu Group Co. Ltd and lower positive fair value change of earn out rights
Adjusted EBITDA loss of USD 115 million, decreased by USD 97 million due to gross margin improvement, cost savings from headcount reduction in 2024, optimized marketing spend, and positive FX impacts partially offset by the share of losses in the JV in China
Cash position of USD 732 million is nearly at the same level as the 2024 year-end cash position of USD 739 million
Alfa Romeo receives three “BEST CARS” awards The readers of auto motor und sport have voted the Alfa Romeo Giulia in first place for the eighth time in the “Midsize Import” category. The Alfa Romeo Tonale topped the “Compact SUV/Off-road Vehicle Import” category, while the Alfa Romeo Stelvio won the “Large SUV/Off-road Vehicle Import” category. Simonetta Cerruti, Head of Alfa Romeo Enlarged Europe, accepted the three awards in person.In the “BEST CARS” competition, more than 94,000 readers of auto motor und sport cast their votes, to select the winners from 462 candidates in 13 competition categories, including a special section for import brands.
All the winning vehicles will be on display in the Hamburg Fish Auction Hall until Sunday. Around 1.5 million visitors are expected for the celebrations at the port.
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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