Latest Energy/Automotive news bulletin | March 27th
US revoked a sanction waiver that allowed Iraq to purchase electricity from Iran
London, March 27, 2025 (Oilandgaspress) –-The latest round of US sanctions on Iran, which now targets Chinese—small, independently owned oil refineries facilities signals a growing determination to tighten the economic noose around the Tehran administration. With potential consequences reaching far beyond Iran itself, these moves could reshape geopolitics, disrupt the global economy and send shockwaves through energy markets.. Read Related News
NIO Inc. announced that it proposes to offer up to 118,793,300 Class A ordinary shares of the Company (the “Placement Shares”) in offshore transactions outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), subject to market conditions and other factors (the “Equity Placement”).
The Company currently plans to use the net proceeds from the Equity Placement for research and development of smart electric vehicle technologies and new products, further strengthening balance sheet as well as general corporate purposes.
The Placement Shares have not been and will not be registered under the Securities Act or any state securities laws or be registered in Hong Kong or elsewhere. They may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. They will not be offered to any members of the “public” (within the meaning of the Companies (Winding Up and Miscellaneous Provisions) Ordinance, Chapter 32 of the Laws of Hong Kong), or in Singapore. This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, in the United States, Hong Kong, Singapore or elsewhere, and shall not constitute an offer, solicitation or sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release contains information about the pending Equity Placement, and there can be no assurance that the Equity Placement will be completed.. Read More
Dacia expands its digital environment
Essential and cool, a mobile phone establishes a permanent connection between the user and the brand, both outside the vehicle and at the wheel. A single account optimises the customer experience delivered by the various apps. Today, this digital ecosystem is gaining new services and functions. The latest additions include the Dacia Travel Companion app and the Boot Organizer in the Dacia AR app, both available on iOS and Android. Both apps are based on technologies that are useful in everyday life, in keeping with the Dacia philosophy. The Dacia Media Control app turns the user’s phone into a smart, personalised multimedia screen, fully integrated with the vehicle. With the intuitive interface connected to the onboard computer, driving becomes smoother, simpler and more enjoyable. Steering wheel-mounted controls make it easy to manage multimedia functions. Read More
Hyundai Motor Group Metaplant America (HMGMA) hosted its Grand Opening celebration, as part of Hyundai Motor Group’s commitment to and investment in the U.S. The ceremony marks the completion of the largest economic development project in Georgia’s history, just two and a half years after breaking ground. “Hyundai Motor Group Metaplant America not only represents the Group’s advanced manufacturing capabilities and commitment to innovation, but also our investment in relationships with our partners and communities right here in Georgia,” said Euisun Chung, Executive Chair of Hyundai Motor Group. “With the rich history of craftsmanship and manufacturing in this community, together with the talented workforce at HMGMA we are building the future of mobility with America, in America.”
The event was attended by Hyundai Motor Group Executive Chair Chung, Governor Brian P. Kemp, U.S. Representative Buddy Carter, Hyundai Motor Group Vice Chair Jaehoon Chang, Hyundai Motor Company President and CEO José Muñoz, Kia Corporation President and CEO Ho Sung Song, company officials, state and local leaders, HMGMA Meta Pro employees, and other distinguished guests. HMG entered into a landmark agreement with the State of Georgia in May 2022 to establish a cutting-edge electric and hybrid vehicle production and battery manufacturing facility in Ellabell, Georgia, located 20 miles outside of historic Savannah. By June 2022, HMGMA was officially formed, and within four months, the company broke ground on the project, setting an unprecedented pace for development.
On October 3, 2024, less than two years after breaking ground, the first vehicle – a Hyundai IONIQ 5 – rolled off the assembly line, marking a new era for the Group’s U.S. operations. Hyundai’s IONIQ 9 three-row electric SUV is also now in production at HMGMA and will be joined in 2026 by the first Kia model to be built at the facility.
In addition to manufacturing electric vehicles for Hyundai, Genesis, and Kia, the plant is also equipped to produce hybrid vehicles. HMGMA has the capacity to initially produce 300,000 vehicles annually.
Investment and Economic Impact
The Group’s investment in Georgia related to HMGMA and joint battery ventures with LG Energy Solution and SK On is $12.6 billion. This represents the largest single investment in the state’s history and includes a total of 8,500 jobs at HMGMA by 2031. The Group’s total investments in Georgia are expected to create nearly 40,000 direct and indirect jobs, and $4.6 billion in individual earnings every year, according to the Center for Automotive Research.
As of the end of 2024, more than $2.5 billion in capital investment and approximately 6,900 jobs have been announced by HMGMA suppliers in 12 counties across the state. This more than doubles the additional $1 billion investment by suppliers that was originally anticipated.
HMGMA exemplifies the Group’s dedication to fostering economic growth, driving technological advancements, and delivering sustainable solutions to the U.S. market. To date, the Group has invested more than $20.5 billion in the U.S. in the service of these goals, creating or supporting over 570,000 jobs nationwide. Read More
Technology highlights:
Solar: solar photovoltaics increased by 451.9 GW last year. China alone added 278 GW to the total expansion, followed by India (24.5 GW).
Hydropower (excluding pumped storage hydropower): capacity reached 1 283 GW, demonstrating a notable rebound from 2023, driven by China. Ethiopia, Indonesia, Nepal Pakistan, Tanzania, and Viet Nam added more than 0.5 GW each.
Wind: wind energy expansion declined slightly, to a total of 1 133 GW capacity by the end of 2024. Expansion was once again dominated by China and the United States (US).
Bioenergy: expansion rebounded in 2024, with an increase of 4.6 GW of capacity compared to an increase of 3.0 GW in 2023. The growth was driven by China and France with 1.3 GW of additions each.
Geothermal: geothermal energy increased by 0.4 GW overall, led by New Zealand, followed by Indonesia, Türkiye, and the US.
Off-grid electricity (excluding Eurasia, Europe and North America): capacity expansion nearly tripled, growing by 1.7 GW to reach 14.3 GW. Growth was dominated by off-grid solar energy which reached 6.3 GW by 2024.. Read Related News
Neubauer Touristik GmbH, Reisedienst Bölck GmbH and Blitz-Reisen GmbH rely on the proven high level of Setra comfort with new TopClass vehicles. Two TopClass S 516 HDH with 2+1 seating for Neubauer Touristik
The two TopClass coaches for Neubauer Touristik are each equipped with 2+1 seating, on-board kitchen and a TopSky Panorama glass roof. “Thanks to the generous arrangement of a total of 30 seats, we can offer our passengers significantly more space and privacy on trips,” says Managing Director Oliver Gröpper.
The latest driver assistance and safety systems currently offered by the brand ensure the greatest possible protection for passengers. This also includes Active Drive Assist 2 (ADA 2). The system supports drivers to better maintain a safe distance from the vehicle in front and stay in lane.
Neubauer Touristik, which is based in Flensburg, includes the brands Globetrotter Reisen, Vagabund and Ski-Tours. The two Setra coaches are mainly used for long round trips throughout Europe as part of their own touring programme. Read Related News
Installation of renewable energy worldwide hit a record high last year, with 92.5% of all new electricity brought online coming from the sun, wind or other clean sources, an international agency reports.
Nearly 64% of the new renewable electricity generated in 2024 was in China, according to Wednesday’s report by the International Renewable Energy Agency (IRENA). Overall, the world added 585 billion watts of new renewable electrical energy, a 15.1% jump from 2023, with 46% of the world’s electricity coming from solar, wind and other green non-nuclear energy sources. China added almost 374 billion watts of renewable power — three quarters of it from solar panels — in 2024. That’s more than eight times as much as the United States did and five times what Europe added last year. Read Related News
To achieve the global goal of tripling renewable power capacity by 2030, the world’s largest emitters of CO2 emissions in G20 and beyond would need to more than double their annually added installed renewable capacity by 2030.
Yet, progress falls short and is unevenly spread in a few economies according to data published by IRENA in its capacity as Custodian Agency tasked with monitoring progress towards the UAE Consensus reached at the Climate Summit COP28 in Dubai. The 2030 target is crucial to limiting global temperature rise to below 1.5°C.
Released at the Berlin Energy Transition Dialogue (BETD) today, the Agency’s new data collection and policy recommendations look at key performance indicators for the 2030 milestone and assess progress against 1.5°C-aligned transitions pathways in the G20 including the European Union. G20 nations represent 80% of global energy consumption and contribute to over 80% of global energy-related CO2 emissions worldwide.
The new dataset also assesses the deployment of renewable power capacities and the gap to reach the global tripling target not only in the G20 but in 15 additional countries from Asia and Central America*. These G20+ countries would have to provide as much as 80% of total installed renewable power capacity by 2030.
Data shows that under IRENA’s 1.5°C Scenario, installed renewable power capacity would need to grow current levels from 3.4 TW to 9.4 TW across G20 and from 3.5 TW to 9.7 TW across G20+ by 2030, the bulk of installed renewable power needed to meet the global goal of 11.2 TW by 2030.. Read Related News
Aston Martin Lagonda Global Holdings plc (the “Company”) announces that it has published its Annual Report and Accounts for the financial year ended 31 December 2024 (the “2024 Annual Report”) and its Notice of Annual General Meeting 2025 (the “Notice of AGM 2025”). . Read Related News
The all-new Aston Martin Valkyrie reached another important milestone in its historic first season of competition when it became not only the first car built to ‘Le Mans Hypercar’ (LMH) regulations to compete in an IMSA WeatherTech SportsCar Championship (IMSA) race, but also the first to score points. In a strong North American race debut in the Mobil 1 12 Hours of Sebring on Saturday – the second round of the 2025 IMSA WeatherTech SportsCar Championship (IMSA) – the Aston Martin THOR Team #23 Valkyrie, driven by Ross Gunn (GBR), Roman De Angelis (CDN) and Alex Riberas (ESP), finished in a respectable ninth position on what is widely recognised as one of the most grueling race tracks on Earth.
Valkyrie, the first LMH car to be produced by Aston Martin, and the only car racing in IMSA’s premier GTP category derived from a road-legal hypercar, performed solidly throughout the 73rd running of one of the world’s most prestigious endurance events to secure its first points finish in only its second competitive outing. The result comes just two weeks after the only car built to LMH regulations contesting both IMSA and the FIA World Endurance Championship (WEC), made the finish on its debut in the eight-hour Qatar 1812km with De Angelis, Riberas and Marco Sørensen (DEN). Read More
Xpeng Motors’ first technology brand experience store in Asia is located in the core area of Hong Kong Island. The right-hand drive version of Xpeng X9 is listed at HK$599,900. At the event, Xpeng Motors also announced that the world’s first stop for Xpeng brand supercharging outside of mainland China is officially launched in Hong Kong! Gu Hongdi, Vice Chairman and Co-President of Xpeng Motors, said: “The opening of the Wan Chai Xpeng Technology Brand Experience Store is an important milestone for Xpeng’s development in Hong Kong and the global market. Hong Kong consumers have a strong demand for cutting-edge smart technology and travel solutions. We hope that through this innovative space, consumers can experience Xpeng’s innovative achievements from smart driving, smart cockpits to AI chips and humanoid robots at close range. With the listing of X9 in Hong Kong, we are not only committed to providing a smart travel experience, but also will leverage Hong Kong’s advantages as an international hub to accelerate Xpeng’s globalization process.”Xpeng Motors’ global “Technology Brand Experience Store” has officially opened its first store in Asia in the core business district of Hong Kong. Breaking through the traditional 4S store model, the store is “Xpeng’s technology brand immersive experience space in Hong Kong”, and will focus on presenting cutting-edge technological achievements such as humanoid robots, self-developed Turing chips, and the latest generation of flying cars. The store is located in the core area of Wan Chai and plans to create a Hong Kong technology landmark through dynamic demonstrations and interactive experiences. Read More
A long-term Bentley enthusiast and collector, Mark King, has taken delivery of a very special Bentayga – the latest addition to an extensive Bentley stable. His Apex Edition Bentayga is one of just 20 handcrafted examples by Mulliner worldwide, finished in the same livery and trim as his 2023 Le Mans Collection Continental GT – itself created to mark 20 years since Bentley’s return to victory at Le Mans in 2003 after a 73-year absence from the top step of the podium.
While the Apex Edition Bentayga was also offered in six curated colour and trim themes, the Verdant green and Moonbeam livery of Mr King’s Apex Edition Bentayga was only offered to existing Le Mans Collection owners.
The Apex Edition Bentayga
The Apex Edition Bentayga is based on the Bentayga S, the sporting flagship of Bentley’s SUV line-up. Its 4.0-litre, twin-scroll turbocharged V8 petrol engine develops 542 bhp (550 PS) and 568 lb.ft. (770 Nm) of torque, giving a 0-60 mph time of 4.4 seconds (0-100 km/h in 4.5 secs) and a top speed of 180 mph (290 km/h). Bentley Dynamic Ride active anti-roll control and rear-wheel steering deliver agile handling with minimal roll, while the V8’s exhilarating snarl is enhanced by a free-flowing sports exhaust. Read More
Be it package delivery, maintenance and service, eGrocery or on-demand vehicles in public transit: The fully electric eVito has successfully established itself as a supplement to its conventionally powered sibling. Up until now, the eVito panel van was available with a battery capacity of 60 kWh in combination with the 85 kW peak output electric motor to cater for the needs of commercial customers taking e.g. short tours in urban areas.
To appeal to an even wider range of users in the commercial sector, the Mercedes‑Benz eVito panel van is now available in new, additional variants. A usable battery capacity of 90 kWh offers significantly higher ranges of up to 480 kilometers (WLTP). It can be combined with two electric motors: either with 85kW peak output or with the more powerful electric motor – known from the eVito Tourer – featuring up to 150 kW peak output, which, combined with a torque of up to 365 Nm, ensures even more driving dynamics.
“With the new variants of the eVito panel van, we are expanding the fields of application for commercial electromobility and ensuring that locally CO₂-emission-free mobility is even more suitable for everyday use.” Klaus Rehkugler, Head of Sales & Marketing Mercedes-Benz Vans
Easy loading – fast charging
The dimensions of the two available lengths remain unchanged at 5,140 mm in the long (A2) and 5,390 mm in the extra-long (A3) variant. Thanks to the storage of the battery in the underbody, the interior is fully available and offers up to 6.6 m3 of loading volume-especially in goods transport, an important prerequisite for many sectors.
The panel van variants also include the water-cooled AC on-board charger (OBL) with a charging capacity of max. 11 kW. It is thus prepared for AC charging (AC), for example at the commercial site, company courtyards or public charging stations. Charging takes place via the CCS charging socket in the left front bumper. Quick charging using direct current (DC) is also possible via this. This means that the eVito with the new battery variant can now be optionally charged from 10-80% SoC at a DC rapid charging station with up to 110 kW in approx. 40 minutes. Read More
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| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $69.50 | Up |
| Crude Oil (Brent) | USD/bbl | $73.65 | Up |
| Bonny Light 26/03/25 CBN | USD/bbl | $76.13 | Up |
| Dubai | USD/bbl | $72.38 | Up |
| Natural Gas | USD/MMBtu | $3.73 | Down |
| Murban Crude | USD/bbl | $74.74 | Down |
| OPEC basket 26/03/25 | USD/bbl | $75.961 | Up |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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