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Latest Energy / Automotive News and Analysis
London, January 30, 2025 (Oilandgaspress) –-Saudi Arabia’s energy minister and several of his OPEC+ counterparts held talks following Trump’s call to lower oil prices, but delegates said its Feb. 3 meeting is unlikely to adjust its current plan to start raising output from April. Read More
Lee Zeldin was sworn in as the 17th Administrator of the U.S. Environmental Protection Agency. Administrator Zeldin will work closely with the dedicated career officials at the agency to fulfill the agency’s mission to protect human health and the environment. Administrator Zeldin has dedicated his life to public service. He is currently in his 22nd year in the United States military, having deployed to Iraq in 2006 with the Army’s Elite 82nd Airborne Division and continues to serve as a Lieutenant Colonel in the Army Reserve. He served in the New York State Senate from 2011-2014 and later represented New York’s First Congressional District in the United States House of Representatives from 2015-2023.
During his eight years in Congress, Zeldin worked across party lines to preserve the Long Island Sound and Plum Island. He supported key legislation that became historic, bipartisan success stories like the Great American Outdoors Act and Save our Seas Act to clean up plastics from our oceans. He also led the fight for Sea Grant, combated per- and polyfluoroalkyl substances (PFAS) in drinking water, voted for the Lautenberg Chemical Safety Act, and supported clean energy projects on Long Island. Read More
Two of the UK’s largest undeveloped oil and gas fields (Rosebank and Jackdaw) have been declared unlawful in a historic win for the climate movement. Just Stop Oil has been taking action since 2022 to demand ‘no new oil and gas’. After winning this demand Just Stop Oil subsequently moved to demand an end to the extraction and burning of fossil fuels by 2030. Read More
Oil and Gas Blends | Units | Oil Price | Change |
Crude Oil (WTI) | USD/bbl | $72.49 | Down |
Crude Oil (Brent) | USD/bbl | $76.49 | Down |
Bonny Light 29/01/25 CBN | USD/bbl | $79.73 | Down |
Dubai | USD/bbl | $80.49 | Down |
Natural Gas | USD/MMBtu | $3.16 | Down |
Murban Crude | USD/bbl | $78.00 | Down |
OPEC basket 29/01/25 | USD/bbl | $79.52 | Down |
Boeing has become a key project development partner of Norsk e-Fuel, supporting one of Europe’s first industrial scale Power-to-Liquids (PtL) facilities. Boeing’s investment will accelerate the production and availability of sustainable aviation fuel (SAF) in the Nordics and globally. It is also intended to support the commercial aviation industry’s and ICAO member states’ common goal to achieve net-zero carbon emissions by 2050.
Norsk e-Fuel will produce jet fuel known as electro-SAF, or e-SAF. This involves the PtL process: using fossil-free power to generate green hydrogen and combining it with recycled CO₂ from biogenic sources. This fuel can reduce the lifecycle greenhouse gas emissions of air travel by over 90% compared to conventional jet fuel. Read More
SkyDrive Inc., a leading eVTOL aircraft manufacturer based in Japan, announced the signing of a strategic partnership with JetSetGo Aviation Services Pvt. Ltd (“JetSetGo”) to explore new business structures, initially in the state of Gujarat and potentially in other locations across India. JetSetGo, one of India’s largest private jet operators, has also agreed to pre-order 50 units of the eVTOL “SKYDRIVE” (2), which will be SkyDrive’s first commercially certified eVTOL. The agreement between SkyDrive and JetSetGo was facilitated by Suzuki Motor Corporation (“Suzuki”) under the business and technical collaboration agreement previously signed by Suzuki and SkyDrive. (*3). Read More
Hyundai received nine Editors’ Choice Awards from the automotive experts at Car and Driver, demonstrating excellence across its entire vehicle lineup. The legendary publication’s annual awards aim to simplify the car-buying process by highlighting the top new-vehicle choices across 45 market segments. Every year, Car and Driver’s editorial team tests hundreds of new models, evaluating how well each vehicle fulfills its market-segment’s mission. This rigorous process includes analyzing the publication’s own instrumented testing results and assessing every vehicle’s overall value and driving enjoyment.
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Car and Driver Editors’ Choice 2025 Hyundai Models
Hyundai IONIQ 5
Electric Compact SUV
Hyundai IONIQ 5 N
Electric Compact SUV
Hyundai IONIQ 6
Electric Compact Sedan
Hyundai Elantra N
Sport Compact Sedan
Hyundai Tucson Hybrid
Hybrid Compact SUV
Hyundai Santa Fe Hybrid
Hybrid Mid-Size SUV
Hyundai Palisade
Mid-Size SUV
Hyundai Santa Cruz
Compact Pickup Truck
Hyundai Sonata
Mid-Size Sedan
Read More
Russia has suffered a major economic setback, after China and India halted their purchases of Kremlin oil.
Oil and gas revenues are vital sources of revenue, accounting for between a third and half of Russia’s federal budget over the last decade.
In particular, these revenues play a key role in helping Putin to finance his war in Ukraine.
The war costs Putin over £262 million a day, according to a report published last year. That figure seems only likely to increase, with Putin having allocated £117 billion for defence spending in 2025 – an increase of 25% last year. Read More
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Bentley Motors will showcase the Bentley Speed Six Continuation Series following the successful completion of twelve Bentley 4½ Litre Supercharged ‘Blower’ Continuation models, the world’s first pre-war continuation series. The build of each car will take a total of ten months from start to finish..182 Speed Six models were built between 1928 and 1930. Two wins at the Le Mans 24 Hour race, in 1929 and 1930, cemented the Speed Six’s pre-eminent place in Bentley racing history. Read More
The UK government is reportedly considering subsidising purchases of electric vehicles by guaranteeing consumer loans, as it looks at ways to boost sales that are failing to reach official targets. Ministers have started talks with the car finance sector on how to make more low-interest or interest-free loans available to help consumers buy more EVs, according to the Financial Times.
By underwriting private loans the government could help bring the higher upfront cost of electric vehicles closer to their petrol and diesel equivalents, the FT reported, citing government and industry figures.
Such a move would undoubtedly be welcomed by the car industry Read More
Milos Vucevic, the Serbian Prime Minister, has been forced to resign following widespread protests, dealing a significant blow to Vladimir Putin’s support in Europe.Although Serbia has condemned Russia’s invasion of Ukraine, the country has refused to impose sanctions on Moscow, much like Hungary and Slovakia. In Slovakia, Prime Minister Robert Fico is under pressure following his meeting with Vladimir Putin in Russia.
Meanwhile, Poland’s President Andrzej Duda has called for Europe to dismantle the Nord Stream 1 and 2 pipelines and to end reliance on Russian gas supplies permanently. Read More
The UAE has a potential project pipeline of $659 billion, with the future spending heavily concentrated in Abu Dhabi and Dubai, Emirates NBD said in its new report on project spending in the GCC.
The total for budgeted projects is $336 billion, while $323 billion is in the planning phases, the Dubai-listed bank said, citing MEED data.
Currently, $222 billion worth of projects are underway in the UAE, mainly in Abu Dhabi and Dubai.
The value of UAE project investment remained robust in 2024, with contracts worth $83 billion being awarded.
A total of $93 billion contracts were awarded in 2023, the report said. Read More
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Renault Filante Record 2025 is an electric demo-car developed to maximise energy efficiency and set a new record for power consumption and range with an 87 kWh battery, i.e. the same capacity as on Scenic E-Tech electric. A single-seater with a streamlined body design for aerodynamic efficiency, Renault Filante Record 2025 is a car of exceptional dimensions: 5.12 metres long and 1.19 metres tall for just 1,000 kg.
A laboratory on wheels for testing new technologies, materials and innovations, Renault Filante Record 2025 is fitted with unique friction-reducing tyres Renault Filante Record 2025 is a feat of engineering and design. Developed to push the limits of aerodynamics and energy efficiency, it is out to set new records. Its bold looks are inspired by aeronautical design cues and brand history. Read More
In this year’s Dakar Rallye, which is considered the ultimate test for man and machine, the VÖLKEL Rallye Team was able to impress for the second time in a row with its two Mercedes-Benz Service Trucks. The two so-called “Fast-Assistant Trucks” Mercedes-Benz NG 2636 6×6 were supporting the Völkel team as a rolling workshop. Both Mercedes-Benz trucks were once on the road together with the legendary winning car of the 1983 Dakar Rallye, a Mercedes 280GE (then driver: Jacky Ickx, Claude Brasseur). The two trucks were originally delivered to the Mitsubishi Dakar Team in 1986 and 1987.
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From sleeping bags to workbenches, the two classics had everything on board to provide the rallye team with the best possible supplies, including tools and replacement parts.
Both service trucks have a V10 engine with a displacement of 18.5 liters and 360 hp, enabling them to reach maximum speeds of 128 km/h and 80 km/h on sand. With their 6×6 all-wheel drive, the trucks are perfectly equipped for the challenges of the world’s toughest rallye.. Read More
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Kia India has commenced mass production of the Kia Syros, a versatile SUV specifically designed to meet the needs of customers in India. Officially unveiled in December 2024, the Syros SUV sets new standards in design, technology, and space. Kia held a milestone ceremony at its plant in Anantapur, Andhra Pradesh, India, to mark the beginning of Syros production, continuing the significant momentum built by the vehicle’s world premiere in December 2024. The event was attended by senior Kia executives and employees, including Ho Sung Song, President and CEO of Kia Corporation, and Gwanggu Lee, Managing Director of Kia India. The Kia Syros recorded 10,258 pre-sales, signaling the significant market potential for the Syros in India. The five-seat Syros SUV has been designed and engineered following in-depth analysis of local market trends to ensure that it precisely meets the needs of Indian consumers. Read More
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(QNA) – The US Energy Information Administration (EIA) reported today that crude oil and gasoline inventories in the United States rose last week, while distillate stocks fell. The EIA, the statistical arm of the US Department of Energy, stated in its short-term energy outlook that crude stocks increased by 3.5 million barrels, reaching 415.1 million barrels.
Crude stocks at the Cushing, Oklahoma delivery hub rose by 326,000 barrels. Refinery crude runs dropped by 333,000 barrels per day last week, and refinery utilization rates decreased by 2.4 percent to 83.5 percent. Read More
(QNA) – HE Minister of State for Energy Affairs Eng. Saad bin Sherida Al Kaabi met with HE Minister of Minerals and Energy of the Republic of Botswana Bogolo Joy Kenewendo and HE Minister of Transport and Infrastructure of the Republic of Botswana Noah Salakae. Discussions during the meeting dealt with energy relations and cooperation between Qatar and Botswana and the means to enhance them. Read More
Alfa Romeo is proud to announce that the Tonale has won the prestigious Chilean “Best Design 2025” award. Recently presented in South American countries and more than two years after its international launch, the Tonale continues to be appreciated for its distinctive design and powerful “Made in Italy” connotation.
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The award assessment criteria focused on the innovation and originality of the project and rewarded the relationship between pure aesthetics and functionality. This year, the jury was made up of three experts in design and architecture: Ignacio Gana, an internationally renowned architect and sculptor; Víctor Villalobos, an architect specializing in bioclimatic architecture; and Germán Espinoza, an industrial designer trained at the Politecnico di Milano. The jury bestowed the award on the Alfa Romeo Tonale for its ability to blend tradition and modernity, reinterpreting and updating style canons that belong to the memorable history of the Italian brand. In addition, its design also prevailed for its balanced proportions, aerodynamic functionality and aesthetic elegance. Read More
A group of 200 UK businesses and charities have signed a pledge that company work weeks will be shortened to 4 days without a loss in pay
Including marketing and advertisement; tech, it, and software; and charity groups as well, the companies employ more than 5,000 people.
Organized by the 4 Day Week Foundation, it follows something less than a trend but more than a fad in which a mixture of employees and executives believe that a happier, more balanced workforce is key to driving productivity. Read More
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When the Ferrari 499P took the first of two back-to-back wins at the 24 Hours of Le Mans in 2023, it marked Ferrari’s return to victory at la Sarthe for the first time since the 250 LM won in 1965. That car was fielded by the factory-supported North American Racing Team (NART) and spent almost its entire life in the USA, but recently the two eras were united on the Fiorano track, with both Le Mans-winning 499Ps joining their 250 LM predecessor for celebratory demonstration laps. Driven to Ferrari’s fifth-consecutive Le Mans victory by Masten Gregory and Jochen Rindt, chassis number 05893 was on a flying visit to Fiorano ahead of its auction by RM Sotheby’s on the 5th of February at Retromobile, Paris. Chassis number 05893 is sure to attract interest from serious collectors worldwide at the RM Sotheby’s Retromobile auction on February 5th. With some proceeds set to be donated to international educational causes nominated by Ferrari, it’s a worthy way for this very special 250 LM to mark 60 years since its landmark success at Le Mans. Read More
Baker Hughes Rig Count: U.S. U.S. -4 to 576 Canada +16 to 245
U.S. Rig Count is down 4 from last week to 576 with oil rigs down 6 to 472, gas rigs up 1 to 99 and miscellaneous rigs up 1 to 5.
Canada Rig Count is up 16 from last week to 245, with oil rigs up 18 to 174, gas rigs down 2 to 71 and miscellaneous rigs unchanged at 0.
International Rig Count is down 10 rigs from last month to 909 with land rigs unchanged at 712, offshore rigs down 10 to 197. International Rig Count is down 46 rigs from last year’s count of 955, with land rigs down 23, offshore rigs down 13.
The U.S. Offshore Rig Count is unchanged at 14, down 5 year-over-year.
The Worldwide Rig Count for October was 1,754, up 4 from the 1,751 counted in September 2024, and down 22, from the 1,776 counted in October 2023.
Region | Period | Rig Count | Change |
U.S.A | 24 January 2025 | 576 | -4 |
Canada | 24 January 2025 | 245 | +16 |
International | December 2024 | 909 | -10 |
Baker Hughes |
Shell paid out more than £18.7bn to shareholders in 2024 while cutting spending on renewable energy according to its full year results.
The FTSE 100 giant reported a dip in earnings from £23bn in 2023 to £19.1bn in 2024 amid weaker oil prices and lower demand for fossil fuels.
Despite the drop-off in earnings, Shell said on Thursday it had hiked dividends by four per cent in the fourth quarter and announced a £2.8bn share buyback programme, which it expects to be completed by its first quarter results for 2025. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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