Latest Energy/Automotive news bulletin | March 20th – Midday
Oil Theft, Explosions, and Militants: Nigeria’s Energy Future at Risk
London, March 20, 2025 (Oilandgaspress) –-Earlier this week, an explosion rocked the Trans-Niger Pipeline, one of the main conduits for crude pumped in the Niger Delta, which carries it to the Bonny export terminal. The explosion sparked a massive fire at a section of the pipeline and the flow of oil had to be rerouted, which was done promptly. The investigation on the blast is ongoing, but a spokesman for Renaissance Group, the owner of the pipeline, said there were suspicions of arson.
The Trans-Niger Pipeline has a capacity of 450,000 barrels daily. That’s 15% of Nigeria’s total oil export capacity—and that makes the explosion an even bigger deal than it might have seemed initially. Because successive Nigerian governments have been trying for years to stop the theft and sabotage of pipelines as a means of reviving the industry. Instead, Big Oil has shrunk its presence in Africa’s biggest producer, in large part because of the thefts and sabotage. And Nigeria needs fresh oil investments to make that production boost happen. The explosion comes barely a month after the chief executive of the Nigerian Upstream Petroleum Regulatory Commission declared that Nigeria was “more ready for business than ever,” adding that the federal government was committed to regulatory certainty, investment-friendly policies, and global competitiveness. Yet infrastructure security continues to be a problem, and that could very well derail the rest of the government efforts. . Read Related News
MOL has discovered a new oil field near Somogysámson in Western Hungary. During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. According to the results, the well has potential to produce 1,200 bpd.
“I am very proud to announce that, after exploration success in recent years, we have again discovered a new oil field – this time in the Transdanubian region, where we last discovered oil more than a decade ago,” said Zsombor Marton, Executive Vice President of MOL Group Exploration and Production. “The fact that we achieved this success in the concession belonging to Bázakerettye, which has an almost 100-year oil industry tradition, is clear evidence that there is still potential in hydrocarbon exploration in Hungary. We are discovering previously unknown hydrocarbon deposits one after the other and further strengthening the country’s security of supply: with the oil deposits in Vecsés and Tura and the natural gas fields in Eastern Hungary, we have reached a five-year peak in domestic production.” The drilling of the new well in the Somogysámson oilfield, called Som-8, began on November 25, 2024, and was completed after 33 days. Based on the well tests carried out prior to March 2025, the well is currently proven to be capable of producing 1,200 bpd, which is transported by truck to the Danube Refinery in Százhalombatta. This new discovery will also help meet the country’s energy needs. MOL has ambitious E&P investment plans. Over the next five years, the company plans to invest approximately HUF 150 billion in oil and natural gas production in Hungary. . Read Related News
Equatorial Guinea has officially relaunched its open-door licensing process for 2025, setting the stage for a major licensing round at the end of 2025 or early 2026. This move marks a strategic shift toward prioritizing licensing and exploration, with a strong focus on regulatory competitiveness, tax incentives and data transparency. Equatorial Guinea’s Minister of Mines and Hydrocarbons, Antonio Oburu Ondo, outlined the country’s comprehensive exploration strategy at CERAWeek by S&P Global in Houston last week, aimed at boosting hydrocarbon production, attracting investment, addressing declining output and enhancing competitiveness. Fiscal reforms include reducing corporate tax from 35% to 25%, dividends tax from 25% to 10%, and withholding tax from 6.25% to 3% for residents (or from 15% to 10% for non-residents). The country’s open-door policy enables international oil and gas companies to apply for licenses through a streamlined process involving direct negotiation with the state. The government’s aggressive promotion policy has already yielded results, with seven new production-sharing contracts awarded in record time. These include blocks EG-31 and EG-18 to Africa Oil Corp, blocks EG-11 and EG-06 to Chevron, blocks EG-23 and EG-01 to Panoro Energy and Block EG-08 to Antler Global. The next licensing round will be underpinned by a new competitive tax law, a strengthened hydrocarbons law and the launch of a multi-client 3D seismic acquisition initiative – all aimed at boosting investor confidence and accelerating exploration. Read Related News
Cheniere Energy has announced that substantial completion of Train 1 at the Corpus Christi Stage 3 Liquefaction Project (CCL Stage 3) was achieved on March 16, 2025. Commissioning is complete and Cheniere’s engineering, procurement and construction partner, Bechtel Energy, has turned over care, custody and control of Train 1 and associated systems to Cheniere. “The substantial completion of the first train of CCL Stage 3 – ahead of schedule and on budget – marks another important milestone for Cheniere and further builds upon the track record of excellence in execution consistently delivered by the Cheniere and Bechtel teams,” said Jack Fusco, Cheniere’s President and CEO. “We remain focused on safely and efficiently bringing the remaining CCL Stage 3 trains online ahead of schedule, providing much-needed new LNG supply to the global market, and creating long-term value for our stakeholders by growing the Corpus Christi platform with disciplined, brownfield growth.” Read Related News
Nissan announced important updates regarding its organization and leadership structure, integral to the company‘s turnaround plans and as a continuation of the recent changes announced about the executive committee last week.
To enhance decision-making speed and efficiency, Nissan’s top management will transition to a single-layer, non-officer framework. All corporate officers will henceforth be assuming the title of Corporate Executive (CE). This change will result in a 20% reduction in top management positions, creating a streamlined and borderless organization.
This is also part of Nissan’s commitment to improving decision-making efficiency by simplifying organizational layers and expanding the span of control. These changes are designed to empower regions and establish clear roles and responsibilities within the organization.
These changes will take effect on April 1. Read Related News
The Toyota Automobile Museum, a cultural facility of Toyota Motor Corporation, will host its 35th Classic Car Festival on Sunday, 20 April at Expo 2005 Aichi Commemorative Park in Nagakute City, Aichi. The community-based event aims to promote and sustain automobile culture.
The festival will feature a variety of events, including a public road parade of approximately 120 privately owned classic cars from Japan, the U.S., and Europe, as well as a special exhibition, demo runs, and commemorative photo opportunities with selected vehicles.
The public street parade will start at the museum and travels about 14 kilometers through the city, cheered on by spectators, before arriving at the Expo 2005 Aichi Commemorative Park. The parade will be led by a Toyota 2000GT Roadster. The theme of the special exhibition is “The Evolution of Japanese Automobile Culture.” In addition to vehicles from the Museum’s collection, the exhibition will feature vehicles from other Japanese automakers with which we have strengthened ties by co-hosting the first World Forum for Motor Museums in Japan last fall, the first such event in Asia. The exhibition and demonstration runs at the festival will transcend differences between manufacturers and brands. Read Related News
British renewable energy projects will be connected quicker thanks to new Ofgem rules granting early access to almost £4 billion of investment for crucial transmission equipment and services. The regulator’s new Advanced Procurement Mechanism (APM) will unblock supply chains by allowing Britain’s electricity transmission owners (TOs) to buy essential equipment – such as switchgear, cables and steel – years in advance of when it is needed. This streamlined process will ensure green-lit projects are ready to break ground as soon as planning approval is granted, allowing TOs to avoid delays, control costs and attract international investment in the drive to net zero. This first-of-its kind mechanism reflects Ofgem’s commitment to the government’s Growth Duty compelling regulators to tear down barriers to promote growth and innovation – and the concept could be extended in the future to support other areas of infrastructure development. The introduction of this ‘use it or lose it’ allowance chimes with independent advice provided to government last November by the National Energy System Operator (NESO), which called for a step change across the energy sector to achieve clean power by 2030. Read More
Hyundai Motor Company’s INSTER has been named a ‘Top 3’ finalist in the 2025 World Car Awards, marking the fourth consecutive year Hyundai has been recognized in this renowned global competition.
What categories has Hyundai been shortlisted in at the 2025 World Car Awards
Hyundai Motor has been shortlisted for three awards in this year’s World Car Awards, including:
• World Car of the Year (overall victory)
• World Urban Car
• World Electric Vehicle
What World Car Awards has Hyundai Motor previously won? Read More
Baker Hughes announced a joint technology development program with Petrobras to provide a definitive solution for stress corrosion cracking due to CO2 (SCC-CO2) in flexible pipe systems. The pre-commercial agreement encompasses development and testing, as well as a purchase option of the resulting next-generation flexible pipes, which will have an extended service life of 30 years in high-CO2 environments. The collaborative effort between Baker Hughes and Petrobras will be primarily executed at Baker Hughes’ Rio de Janeiro Energy Technology Innovation Center and nearby flexible pipe systems manufacturing plant. SCC-CO2 was identified in 2016 and can affect flexible pipes in pre-salt fields, which have high concentrations of naturally occurring CO2. If water penetrates a pipe’s annulus area, the resulting corrosion to steel reinforcement layers can weaken structural integrity and reduce the system’s lifespan. This issue is particularly acute in Brazil’s pre-salt fields, where Petrobras is reinjecting CO2 from their production operations into wells to reduce flaring and enhance oil recovery. Petrobras has committed to limiting atmospheric emissions, and carbon capture, utilization and storage (CCUS) is an important tool for achieving this goal. Read More
Hydrasun has awarded three contracts for major equipment packages for the bp Aberdeen Hydrogen Hub project.
The scalable green hydrogen production, storage and distribution facility powered by renewable energy, is being delivered through a joint venture between bp and Aberdeen City Council
Following Hydrasun’s successful bid to design and integrate the hydrogen refuelling station and associated infrastructure, they have awarded contracts to:
Nel Hydrogen for the electrolyser package
Maximator for the compression package
Chesterfield Specialist Cylinders for the storage package
Each of the equipment packages will play a vital role in ensuring the efficient production, storage, and distribution of hydrogen.
Neil Thompson, CEO at Hydrasun said, “We are delighted to be working on the Aberdeen Hydrogen Hub – a project that highlights the industry’s capability to provide next-generation energy solutions and promising substantial growth opportunities for the region, through both supply chain enhancements and skills development.
“The first tranche of contract awards marks a significant milestone for the project and supply chain.” Read More
Serica Energy plc (AIM: SQZ) announces that, following conversations with the operator, Dana Petroleum (‘Dana’), regarding the timeline required to deliver the scope of work, production from the Triton FPSO is now not expected to recommence before May. It was previously anticipated that
critical repairs following the aftermath of Storm Éowyn in January would be completed, and production would then resume, in mid-to-late March.
Due to the ongoing maintenance issues and the performance of the Triton FPSO over the last 12 months, the Company is discussing with Dana all options to secure a lasting improvement in the operating performance of the FPSO. Chris Cox, Serica’s CEO, stated: “Our frustrations with the ongoing performance of the Triton FPSO have been well documented – it is not good enough for Serica, and it is not good enough for our shareholders. Our drilling results around Triton have been tremendous, and these need to be converted into sustained production and cashflow. We are working closely with Dana to help support them with the current work, and to drive the change required to deliver a more predictable production performance going forward.” Read More
Great British Energy’s start-up board members will meet in Aberdeen today (Monday 17 March) to discuss scaling up the company and kickstarting investments, to deliver the government’s Plan for Change and clean energy superpower mission.
Great British Energy is owned by the British people, for the British people, and will own and invest in clean energy projects across the UK to create good, skilled jobs and growth.
Energy Minister Michael Shanks will convene the meeting alongside Start-up Chair Juergen Maier and interim CEO Dan McGrail to discuss next steps for the organisation and building up an investment portfolio that will return a profit for the British people.
Great British Energy has already begun engaging with the market on potential collaborations to ensure it can quickly start delivering for the British taxpayer once it is fully established, backed by £8.3 billion over this Parliament. Read More
Dredging sector crucial for the strategic position of the Netherlands and Belgium: report warns of increasing Chinese competition
The Dutch and Belgian dredging industry is of strategic importance to the economy, water safety, and energy transition in both countries. This is evident from the new report “Future Scenarios and Strategies for the Dredging Sector in the Netherlands and Belgium”, an initiative by trade association NMT-IRO and Erasmus University Rotterdam. While the sector is globally renowned for its expertise in maritime civil engineering, it is now under significant pressure due to growing competition, particularly from China.
The dredging industry in the Netherlands and Belgium stands at a decisive moment. The right mix of innovation, collaboration, and talent can turn today’s challenges into tomorrow’s opportunities.
Key insights from the report:
• Strategic ecosystem: The dredging sector is a crucial link in protecting low-lying areas, ensuring accessibility to the ports of Rotterdam and Antwerp, and constructing offshore wind farms.
• Essential for water safety: With one-third of the Netherlands and large parts of Flanders below sea level, a robust dredging sector is vital for coastal defence and maintaining inland waterways.
• Economic engine: The sector supports over 350,000 jobs annually through critical port and infrastructure projects.
• Increasing geopolitical pressure: State-backed competition from countries such as China, India, and the Middle East is rapidly gaining market share in global dredging markets.
Jeroen de Graaf, Director of NMT-IRO:
“The dredging sector is of strategic importance to the Netherlands and Belgium. It is about much more than economic impact; our sector plays a crucial role in determining how resilient and competitive we are internationally. If we do not invest together in innovation, talent, and a stronger maritime ecosystem, we will lose our advantage to players like China, who have already made significant strides in this area.”
Three future scenarios
The report explores three possible scenarios for the sector:
Green scenario – European dredging companies remain leaders thanks to innovation and sustainability.
Teal scenario – Innovation continues, but within more regional, protected markets.
Brown scenario – Protectionism and resource scarcity dominate, leading to a loss of international competitiveness.
The key to success
NMT-IRO calls on the government, industry, and knowledge institutions to collaborate on innovation, and smart investments in people and technology. By building a future-proof, sustainable, and resilient sector, the dredging industry will not only remain relevant but will also continue to lead the way. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $68.10 | Down |
| Crude Oil (Brent) | USD/bbl | $71.79 | Down |
| Bonny Light 20/03/25 CBN | USD/bbl | $74.04 | Up |
| Dubai | USD/bbl | $71.39 | — |
| Natural Gas | USD/MMBtu | $4.03 | Down |
| Murban Crude | USD/bbl | $73.43 | Down |
| OPEC basket 19/03/25 | USD/bbl | $73.13 | Down |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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