Latest Energy/Automotive news bulletin | April 10 – Midday
London, April 10, 2025, (Oilandgaspress) –––Oil prices plummeted on April 10, 2025, with WTI and Brent crude experiencing significant drops due to heightened trade tensions between the US and China, including tariff hikes. WTI crude fell 4.91% to $59.29 per barrel and Brent crude dropped 4.61% to $62.46.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $59.32 | Down |
| Crude Oil (Brent) | USD/bbl | $62.65 | Down |
| Bonny Light 09/04/25 CBN | USD/bbl | $63.90 | Down |
| Dubai | USD/bbl | $66.00 | Down |
| Natural Gas | USD/MMBtu | $3.59 | Down |
| Murban Crude | USD/bbl | $64.18 | Down |
| OPEC basket 09/04/25 | USD/bbl | $63.40 | Down |
Energy Stocks Plunged as Market Gloom Persists
The sell-off in oil and gas stocks mirrored broader market declines on April 10, 2025, with several majors outpacing the indexes’ losses.
TotalEnergies (TTE) dropped 2.08%,
Shell (SHEL) dropped 4.3%
Chevron (CVX) dropped 5.47%
BP (BP) dropped 4.5%
Equinor (EQNR) dropped 3.8%
Imperial Oil (IMO) dropped 5.15%
Cenovus Energy (CVE) dropped 8.45%
Suncor Energy (SU) dropped 5.25%
Saab’s Annual General Meeting was held on 10 April 2025 in Linköping.
Approval of Income Statement and Balance Sheet
The Annual General Meeting approved the Parent Company’s Income Statement and Balance Sheet, and the Consolidated Income Statement and Balance Sheet for the financial year 2024.
Dividend
The Annual General Meeting decided on a dividend of SEK 2 per share to the shareholders, to be paid out in two equal instalments. At the first instalment, SEK 1 per share is paid with the record date Monday, 14 April 2025. At the second instalment, SEK 1 per share is paid with the record date Tuesday, 7 October 2025. Payment of the dividend is expected to be made from Euroclear Sweden AB on Thursday 17 April 2025 and Friday 10 October 2025, respectively.
Discharge from liability
The Board of Directors and the CEO were discharged from liability for the financial year 2024.
The Board of Directors
In accordance with the Nomination Committee’s proposal, the following Board members were re-elected; Lena Erixon, Henrik Henriksson, Micael Johansson, Danica Kragic Jensfelt, Johan Menckel, Bert Nordberg, Erika Söderberg Johnsson, Sebastian Tham, Marcus Wallenberg, Joakim Westh and Anders Ynnerman. Marcus Wallenberg was re-elected as Chairman of the Board. At the Board Meeting following the Annual General Meeting, Bert Nordberg was re-elected as Deputy Chairman of the Board.
Auditor
In accordance with the Nomination Committee’s proposal, the Annual General Meeting decided to elect Öhrlings PricewaterhouseCoopers AB as Auditor for the period until the close of the Annual General Meeting 2026.
Fees to the Board of Directors and the Auditor
The General Meeting decided, in accordance with the Nomination Committee’s proposal, that the Board fees shall be SEK 2,450,000 to the Chairman of the Board, SEK 925,000 to the Deputy Chairman, and SEK 810,000 to each of the other Board members elected by the General Meeting and not employed by the Company. Compensation for work in the Audit Committee shall be SEK 375,000 to the Chairman and SEK 240,000 to each of the other Audit Committee members. Compensation for work in the Remuneration Committee shall be SEK 205,000 to the Chairman and SEK 120,000 to each of the other Remuneration Committee members.
Fees to the Auditor are to be paid according to approved invoice.
Remuneration report
The Annual General Meeting decided to approve the Board of Directors’ report on remuneration for the financial year 2024.
Guidelines for remuneration and other terms of employment
The Annual General Meeting decided in accordance with the Board’s proposal of guidelines for remuneration and other terms of employment for senior executives.
Long-term incentive programme 2026 and acquisition and transfer of own shares
The Annual General Meeting decided in accordance with the Board’s proposal of a long-term incentive programme 2026 (“LTI 2026”), consisting of three parts: Share Matching Plan 2026, Performance Share Plan 2026 and Special Projects Incentive 2026. LTI 2026 comprises a maximum of 3,100,000 shares of series B.
The Share Matching Plan 2026 covers all permanent employees. The participants can save up to five percent of the cash base salary, for purchase of shares of series B in Saab. If the purchased shares are retained for three years and employment within the Saab Group continues, the employee will be granted a corresponding number of shares of series B by Saab free of consideration. The programme covers a maximum of 1,900,000 shares of series B.
The Performance Share Plan 2026 is directed at a maximum of 300 key employees including the CEO. The participants can save up to 7.5 percent of the cash base salary for purchase of shares of series B in Saab. If the purchased shares are retained for three years and employment within the Saab Group continues, the employee is entitled to matching of performance shares, free of consideration, provided that the performance targets are met. The programme entitles the employee to allotment of a maximum of 4-7 performance shares for each purchased share, depending on the group belonging. The number of performance shares is linked to five performance targets: organic sales growth (20-40% weighting), EBIT margin (20-40% weighting) and operational cash flow (20-40% weighting) during the financial year 2026, and CO2 reduction (5% weighting) during financial years 2026-2028 and increase of the percentage of female employees in the Saab group (5% weighting) by the end of the financial year 2028. In aggregate, the financial performance targets will comprise a maximum allotment of 90 percent, and the two sustainability targets an allotment of 10 percent. The Performance Share Plan 2026 covers a maximum of 890,000 shares of series B.
Special Projects Incentive 2026 is directed at a maximum of 150 key employees, including the CEO. Special Projects Incentive 2026 is a complement to the Performance Share Plan 2026. Participation in the programme also presupposes participation in the Performance Share Plan 2026 or the Share Matching Plan 2026. The programme entitles the employee to allotment of performance shares corresponding to a maximum of 15-52.5 per cent of the cash base salary for the financial year 2026 depending on group belonging, provided that the employment remains for three years and that performance targets are reached. The allotment of performance shares is based on the achievement of ten to fifteen equally weighted performance targets during 2026, consisting of operational targets and milestones related to Saab’s special projects within Saab’s core areas Fighter Systems, Command and Control Systems, Underwater Systems, Advanced Weapon Systems and Sensors. Special projects can be linked to both the existing backlog and the development of future capabilities, including digitalisation, within each of the defined core areas. For the CEO and other members of the Group Management, allotment of performance shares in the programme and the Performance Share Plan 2026 together, may in total amount to a maximum of 75 per cent of the cash base salary for the CEO and 60 per cent of the cash base salary for the other members of the Group Management. The programme covers a maximum of 310,000 shares of series B.
The Annual General Meeting also decided that Saab may enter into an equity swap agreement with a third party on terms and conditions in accordance with market practice, in order to hedge the expected financial exposure of LTI 2026, whereby the third party in its own name may acquire and transfer shares of series B in Saab to employees who participate in LTI 2026.
The Annual General Meeting decided not to approve the Board’s proposal on authorisation for the Board of Directors to resolve on acquisitions of shares and resolution on transfers of own shares to the participants in LTI 2026.
Acquisition and transfer of own shares
The Annual General Meeting decided on authorising the Board to, before the next Annual General Meeting, decide on the acquisition of shares of series B up to a maximum of ten percent of the total number of shares in the Company. The purpose of the authorisation is to be able to adjust the Company’s capital structure and thereby contribute to an increased shareholder value as well as to enable a continuous use of acquired shares in connection with potential acquisitions of companies and, where applicable, for the Company’s share-related incentive programmes.
The Board of Directors was further authorised to, before the next Annual General Meeting, decide on transfer of own shares in connection with acquisition of companies. The purpose of the authorisation is to provide the Board of Directors with increased scope for action in connection with financing of acquisitions of companies.
Shares and votes
The company has in total 543,383,388 shares, of which 9,535,612 are shares of series A with ten votes per share and 533,847,776 are shares of series B with one vote per share, which together represent 629,203,896 votes. The Company holds 6,139,455 own shares of series B, corresponding to 6,139,455 votes. Read More
Mitsubishi Heavy Industries Environmental & Chemical Engineering Co., Ltd. (MHIEC), a part of Mitsubishi Heavy Industries (MHI) Group, has completed refurbishment of the core facilities of Eco Clean Plaza Miyazaki, a waste-to-energy plant in Miyazaki city in southern part of Kyushu. The refurbishment work, which was ordered in 2021, took place over a four-year span from FY2021 through FY2024. The refurbishment, enabling a waste treatment capacity of 579 tonnes per day (tpd), has extended the plant’s service life and achieved reduction in CO2 emissions.
Eco Clean Plaza Miyazaki encompasses facilities not only for waste incineration but also recycling and final waste management. It treats waste from Miyazaki city as well as nine nearby localities. The incineration facilities were designed and constructed by MHI and completed in October 2005. They incorporate three stoker type incinerators(Note1) each having a waste treatment capacity of 193 tpd, and related facilities. Power generation capacity using waste heat is 11,200 kW.
Under the refurbishment work, upgrades have been made to major equipment superannuated after more than 15 years in operation, to achieve stable combustion and operation over the long term. Replacements include equipment involved in combustion, cooling of combustion gas, waste gas treatment, waste heat utilization, ventilation, and ash removal, as well as electrical instrumentation. Plant service life extension work was carried out adopting MHIEC’s proprietary new combustion control system. Stable combustion has been realized with a lower air ratio(Note2) than previously.
A CO2 reduction rate of 31.86%(Note3) was attained, significantly higher than the original 17.25% target. Factors contributing to the higher rate include: replacement to a feeder and boiler piping that enable higher durability responding to the low air ratio; increased power generation making efficient use of waste steam, achieved by changing to a low-temperature denitration catalyst; and the compound effects of adopting high-efficiency motors, converting to inverter type equipment, and optimization of plant equipment.
The refurbishment work was difficult because it had to be undertaken amid continuing waste treatment, and because it coincided with the spread of the coronavirus pandemic. Nevertheless, work proceeded on schedule thanks to the further strengthening of coordination with all relevant counterparts and meticulous care exercised throughout, enabling the project to be successfully completed on time. . Read Related News
Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has acquired Approval in Principle (AiP)(Note) from Nippon Kaiji Kyokai (ClassNK) for its Onboard Carbon Capture and Storage system (OCCS) developed to capture and store CO2 emitted from ships.
The OCCS subject to the AiP captures, liquefies, and stores CO2 after pretreatment of the exhaust gas emitted from ships. It is attracting attention as a solution to promote decarbonization of ships.
Mitsubishi Shipbuilding has developed the system by utilizing CO2 capture technologies of MHI, which has a wealth of experience with onshore facilities, as core technology, and combining it with exhaust gas pretreatment, CO2 liquefaction, storage, and handling technologies in order to establish as onboard system. Going forward, Mitsubishi Shipbuilding will accelerate the development of this system to bring it into market.
MHI Group is currently pursuing strategic measures to strengthen its business for the energy transition. In conjunction with this initiative, Mitsubishi Shipbuilding is making efforts to contribute to the advancement of the maritime industries in Japan and around the world by utilizing its shipbuilding-based marine engineering technologies in addition to the conventional shipbuilding.
Mitsubishi Shipbuilding will actively contribute to the decarbonization of ships continuing their effort to reduce greenhouse gas (GHG) emissions from ships, which faces an increasingly urgent priority around the world.. Read Related News
Mitsubishi Logisnext Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has delivered a new advanced-function container terminal gate, a facility that serves as a nodal point for various types of cargo transport by sea and land, to Dream Island Container Terminal Co., Ltd.
The new container terminal gate, Mitsubishi Logisnext’s first system incorporating advanced functionality installed at the Port of Osaka’s Yumeshima Container Terminal (DICT), was selected for the Ministry of Land, Infrastructure, Transport and Tourism’s “2024 Osaka Port Yumeshima Container Terminal CT Gate Advanced Project,” and began operation in February 2025, along with the existing gate facilities that had undergone system upgrades.
The gate system uses a 5G handheld terminals that can be operated in conjunction with computers in the administrative office to confirm the information on the containers arriving and leaving the terminal, and the trailers to transport them, instead of the conventional method of paper documents and visual inspection of the physical containers. Specifically, the system greatly reduces workloads and shortens working time with automatic inputting of image data using handheld terminals, and an AI (artificial intelligence) identification system using two overhead cameras installed at the gate. In addition, for the operation of the system, client-specific applications that previously needed to be installed on a computer have been adapted for browsers, enhancing operability and compatibility, and allowing for greater flexibility when modifying applications or updating the system in the future. Further, the vehicle information obtained through this system is linked to the new CONPAS port information system,(Note) and will contribute to alleviating traffic congestion around the adjacent Expo2025 Osaka, Kansai, Japan venue. . Read Related News
Hydro was nominated for the 100R project which was the official launch of Hydro CIRCAL 100R recycled aluminium made of 100 percent post-consumer scrap. For the project, Hydro gathered a team of seven renowned designers to create objects with this recycled aluminium, which has a carbon footprint of below 0.5 kilo CO2e per kilo aluminium. The seven aluminium objects from the designers debuted at Milan Design Week in April 2024, where Hydro’s exhibition was among the highlights of the entire design week. Later in 2024, they were also displayed at London Design Festival, and events in Germany and Sweden. Read Related News
AFTER A MAGNIFICENT WIN IN SAUDI ARABIA, DS AUTOMOBILES GETS READY FOR THE MIAMI E-PRIX
On April 12, the legendary Homestead Miami Speedway will host the fifth round of Formula E Season 11
Coming off the back of an excellent victory in Jeddah in February, DS Automobiles and PENSKE AUTOSPORT head into this latest American round with big ambitions
Jean-Eric Vergne, Formula E’s only two-time champion, and Maximilian Günther – who took pole and the win in Saudi Arabia – will drive the two DS E-TENSE FE25 cars as usual
The New Opel Mokka: First-class Digital Infotainment Experience
Cockpit based on the next generation Snapdragon® Cockpit Platform and Snapdragon® Auto Connectivity Platform from Qualcomm Technologies, Inc.1
Highly customisable 10-inch digital driver information and colour touchscreen as standard
Colour touchscreen can be operated via widgets like a smartphone
Natural voice recognition ‘Hey Opel’ in combination with navigation system
Intelligent ChatGPT2 functionalities for the first time in the new Mokka
180-degree HD rear-view camera ensures excellent visibility when manoeuvring in the city
Stellantis Design Studio and Formitalia Unveil Exclusive Furniture Collection Inspired by The Joker
The New Collaboration Showcases Provocative and Iconic Designs Combined with Italian Craftsmanship
New Lancia Ypsilon: the electric version more efficient and the hybrid more powerfull
Starting April 8th, the New Ypsilon range will feature two new upgrades, solidifying its leadership in the premium hatchback B-segment.
Without alterations in its pricing, Lancia enhances the Ypsilon Electric, which now hits up to 425 km of range at zero emissions thanks to an optimized battery and a more efficient powertrain.
The New Ypsilon Hybrid claims a combined output of 110 hp in anticipation of the 2027 Euro 7 regulations, facilitating communications that are more transparent and in line with future market standards.
EUROREPAR and bproauto by Stellantis: a new signature to rapidly establish the link with a leader in the automotive sector
EUROREPAR and bproauto are now presenting their products under a new signature: EUROREPAR by Stellantis and bproauto by Stellantis. This new signature is affixed to the packaging of the two brands’ products, as well as being used in all their communications.
Made in Germany: The new Opel Grandland Electric, Astra Electric and Astra Sports Tourer Electric
German Energy: New Grandland Electric designed and engineered in Rüsselsheim, built in Eisenach
From Rüsselsheim to the world: Astra Electric and Astra Sports Tourer Electric manufactured at Opel headquarters
Know-how from Kaiserslautern: Site supplies Opel models and 20 Stellantis plants across Europe with parts
“Electric All In”1: Opel makes the switch to electric mobility easy
DS AUTOMOBILES X MICHELIN ÉDITIONS: A UNIQUE COLLABORATION ON “THE ART OF ELECTRIC TRAVEL”
DS Automobiles and Michelin, two internationally renowned French brands and long-standing partners, are joining forces in an exclusive collaboration to transform the electric travel experience.
Today, they’re revealing their editorial partnership aimed at enhancing the experience of travellers looking for a new way to explore France, by taking time for discovery and the unexpected.
This avant-garde vision of electric travel is being brought to life by the publication of “The Art of Electric Travel” guide on 25 April 2025, with a foreword by Mathieu Flonneau, a specialist in urban history, mobility and motoring.
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
OilandGasPress.com is a website that provides news, updates, and information related to the oil and gas industry. It covers a wide range of topics, including exploration, production, refining, transportation, distribution, and automotive market trends within the global energy sector. Visitors to the site can find articles, press releases, reports, and other resources relevant to professionals and enthusiasts interested in the energy, oil and gas industry.
Disclaimer: News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Information posted is accurate at the time of posting, but may be superseded by subsequent press releases
Submit your Releases or contact us now!
Follow us: on Twitter | Instagram
Oil and gas press covers, Energy Monitor, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar, Marine, Aviation, Fuel, Hydrogen, Electric ,EV, Gas,
