Latest Oilandgaspress Energy / Automotive News and Analysis
London, January 21, 2025 (Oilandgaspress) –- Donald Trump announced rules that would force Americans to buy electric vehicles would be stopped. ‘With my actions today, we will end the Green New Deal and we will revoke the electric vehicle mandate, saving our auto industry and keeping my sacred pledge to my great American auto workers,’ Trump said to rounds of applause.’In other words, you’ll be able to buy the car of your choice. ‘We will build automobiles in America again at a rate that nobody could have dreamt possible just a few years ago.’ America’s war on gas cars is over,
President Donald Trump will withdraw the United States from the Paris climate deal, the White House said on Monday.
The announcement is part of Trump’s broader agenda to boost U.S. oil and gas production, and to ‘drill baby drill.’ Trump used his inauguration speech to preview a raft of sweeping energy-related federal orders aimed at undoing Biden’s climate legacy.
Battery-electric cars remained the third-most-popular choice for buyers in 2024. In December, their market share stood at 15.9%, contributing to a 13.6% share for the full year, again surpassing diesel, which declined to 11.9%. Petrol cars retained their lead at 33.3%, while hybrid-electric cars strengthened their second position, commanding a 30.9% market share.
Electric cars
Registrations of battery-electric cars fell by 10.2% to 144,367 units in December 2024. This decline was primarily driven by a significant decrease in registrations in Germany (-38.6%) and France (-20.7%), leading to a 5.9% decrease in market volume for 2024 compared to 2023. As a result, the total market share for battery-electric cars stood at 13.6% for 2024.
Plug-in hybrid car registrations rose by 4.9% last month, driven by significant increases in France (44.9%) and Germany (6.8%). In December, plug-in hybrids accounted for 8.3%, maintaining the same level as the previous year. However, year-total volumes for 2024 were down by 6.8% compared to 2023.
Hybrid-electric registrations increased by 33.1% in December, with market share rising to 33.6%, up from 26.5% last December, exceeding petrol car registrations for the fourth consecutive month.
Petrol and diesel cars
In December 2024, petrol car registrations dropped by 1.8%, with all major markets showing declines except Spain, which saw an increase of 16%. France experienced the steepest drop, with registrations plummeting by 23%, followed by Italy with an 11.4% decline. Germany also recorded a decrease of 7.4%. With 269,260 new cars registered last month, the market share for petrol dropped to 29.6%, down from 31.6% in the same month last year. The diesel car market declined by 15%, resulting in a 9.8% market share for diesel vehicles last December. Overall, double-digit declines were observed in most EU markets. Read More
China increased its crude oil imports from Russia by 1% in 2024 compared to 2023, reaching a record level. Imports from Saudi Arabia fell by 9%, Reuters reports. According to China’s General Administration of Customs, the volume of deliveries from Russia, including pipeline and seaborne supplies, amounted to 108.5 million tons, which is equivalent to 2.17 million barrels per day. Read More
Donald Trump has issued a warning to Russian President Vladimir Putin just hours after taking office following his inauguration. Trump said that Putin is ‘destroying Russia’ and urged him to ‘make a deal’ with Ukraine to end the war. Trump said: ‘He has to make a deal. I think he is destroying Russia by not making a deal. Trump warned that inflation is a major threat to Russia and that the Russian economy is sinking. Read More
The American electric car brand Canoo has filed for Chapter 7 bankruptcy, leaving the company unable to meet its financial obligations.
Management owes several creditors amounts ranging between $10 million and $50 million each, while the company itself is left with just $50,000 in cash. Read More
Renault Group announce that Duncan Minto will become the company’s new Chief Financial Officer, effective March 1st, replacing Thierry Piéton.
Thierry Piéton has decided to take up a new professional challenge, to be announced shortly. His departure from the company will take effect on 28 February 2025. Duncan Minto is currently Chief Financial Officer of Alpine, a position he has held since October 2023. He will be a member of the Leadership Team, reporting to Luca de Meo, CEO of Renault Group. Read More
Golar LNG Limited announced that on January 18, 2025, FLNG Gimi received feed gas from the bp operated FPSO on the Greater Tortue Ahmeyim (“GTA”) project offshore Mauritania and Senegal. Full commissioning of the FLNG has now commenced. Prior to achieving this key milestone, gas from the LNG carrier British Sponsor was being used to undertake advanced commissioning work. Receipt of gas from the FPSO allows the full commissioning activity to ramp up. The first LNG export cargo is now expected within Q1 2025, and full Commercial Operations Date (“COD”) is expected within Q2 2025, subject to all conditions being met.
First gas to the FLNG will result in the final upward adjustment to the Commissioning Rate under the commercial reset agreed in August 2024. COD will trigger the start of the 20-year Lease and Operate Agreement that unlocks the equivalent of around $3 billion of Adjusted EBITDA Backlog (Golar’s share) and recognition of contractual payments comprised of capital and operating elements in both the balance sheet and income statement. Read More
Lummus Technology and Versalis, Eni’s chemical company, announced a strategic partnership to license all of Versalis’ technologies in the phenolics value chain. Lummus will serve as the exclusive licensor for phenolics technologies, which ranges from Cumene to Cyclohexanone Oxime. Both companies will also collaborate on engineering, marketing and licensing, as well as providing proprietary catalysts and equipment for both processes. Through this new partnership, both companies aim to continue to develop sustainable technology solutions and maximize efficiency, that will help meet the evolving needs of customers’ need of reliable operation, energy efficiency and sustainability goals.
Lummus and Versalis began collaborating in the late 2000s with similar technology partnerships for Dimethyl Carbonate and Diphenyl Carbonate technologies. Read More
Nel Hydrogen US has received a purchase order for two containerized PEM electrolyser units for about USD 7 million. The two MC500 electrolysers, 2.5 MW each, will be used to produce hydrogen for a new steel mill in the US.
The undisclosed customer, one of the largest US steel producers, already uses Nel’s PEM electrolysers to generate hydrogen at two other sites in the US. “We are delighted to receive a purchase order from an existing customer, as it signifies their satisfaction with the performance of our electrolysers,” says Nel’s Chief Commercial Officer, Todd Cartwright. “We continue to see an increasing demand for our containerized PEM electrolysers for smaller installations as this reliable turn-key concept offers easy outdoor installation and operation,” he says.
This is a firm purchase order for two PEM MC500 units that will be produced Nel’s manufacturing facility in Wallingford, Connecticut. Read More
Centrica has unveiled an updated Climate Transition Plan, which forms the basis for how the company will tackle the urgent challenge of climate change. The plan, originally published in 2021, will see Centrica’s commitments expanded to reflect developments in net zero thinking from the last three years.
Most notably, Centrica has brought forward its target to become a net zero business to 2040, five years ahead of the 2045 timeline set by the original plan and ten years ahead of the widely accepted point at which global society needs to reach net zero. In addition to this ambitious corporate target for becoming net zero, Centrica has maintained its commitment to get customers to net zero emissions by 2050.
The goals set in the new Climate Transition Plan build on the progress made by Centrica in delivering against its existing carbon reduction targets having so far delivered around a 20% reduction in its business emissions alongside a 10% reduction in its customers’ energy GHG intensity since 2019.The Climate Transition Plan contains a new ambition for all Centrica customers in the UK and Ireland to be supplied by renewable or zero carbon power by 2030. This commitment builds on the company’s existing work to help households and businesses alike reduce their carbon footprints while maintaining reliable and affordable energy supply. Customers will also benefit from investments in efficiency and cleaner energy infrastructure.
Centrica announced in 2022 that it would no longer invest in the exploration of new oil and gas fields, however Natural Gas will continue to be an important transition fuel for some time and Centrica plans to grow its Liquified Natural Gas (LNG) business. Therefore, reducing the emissions from global shipping will be a key feature of the plan and the company has set a new ambition to cut shipping emissions rapidly in the 2030s. In addition, Spirit Energy, which is majority owned by Centrica, has committed to reach net zero by 2035 from its gas production activities as has Centrica Energy Storage + which aims to develop Europe’s largest hydrogen store. Read More
Baker Hughes Rig Count: U.S. U.S. -4 to 580 Canada +13 to 229
U.S. Rig Count is down 4 from last week to 580 with oil rigs down 2 to 478, gas rigs down 2 to 98 and miscellaneous rigs unchanged at 4
Canada Rig Count is up 13 from last week to 229, with oil rigs up 12 to 156, gas rigs up 1 to 73 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 | 17 January 2025 | 580 | -4 |
| Canada | 17 January 2025 | 229 | +13 |
| International | December 2024 | 909 | -10 |
Amid a tightening global gas market, the International Energy Agency (IEA) has urged global cooperation to ensure the security of supplies.
In its quarterly gas market report released in Paris on Tuesday, the IEA highlighted efforts from the past year to enhance market transparency, data sharing, and cooperation mechanisms for both natural gas and liquefied natural gas (LNG). Asia’s rapidly expanding markets were a significant driver in global gas demand, which grew by 2.8% last year. At the same time, the IEA said the below-average LNG production growth led to a tight supply while extreme weather events added further strain to the market.
This trend is forecast to continue, with new LNG export capacities, particularly in the US and Qatar, only expected to come into operation in the latter half of this decade. Read More
(Reuters) -European wind shares fell on Tuesday after U.S. President Donald Trump axed support for new U.S. offshore wind power on his first day in office, with top decliner Orsted further straining under the weight of impairments on its U.S. ventures. Orsted lost as much as 17% after it reported 12.1 billion Danish crowns ($1.69 billion) in impairment charges related to the U.S. offshore market. Read More
The Kuwait Oil Company (KOC) announced yesterday (Monday) a significant hydrocarbon discovery at the Al Jlaiaa offshore field, a find that could bolster the nation’s oil and gas reserves and reinforce its role as a major global energy supplier.
Al Jlaiaa field, located within Kuwaiti territorial waters and covering 74 square kilometers, is estimated to hold approximately 800 million barrels of medium-density oil. Tests on the exploration well, Al Jlaiaa 2, also revealed 600 billion standard cubic feet of associated gas, equivalent to 950 million barrels of oil equivalent.
The oil is notably free of hydrogen sulfide and contains low levels of carbon dioxide, signaling high-quality reserves, according to a statement released by the Kuwait News Agency (KUNA). Read More
Germany’s heat pump industry is expecting sales figures to rise significantly again in 2025, the German Heat Pump Association (BWP) said on Tuesday. Demand and interest in subsidies are increasing, the industry lobby group said in Berlin. The market is therefore expected to recover as early as 2025, assuming that current government subsidies are continued and publicized further. According to BWP figures, manufacturers in Germany sold around 193,000 heat pumps in 2024, 46% fewer than in the record-setting year of 2023.
Under the current conditions, the association believes that sales figures could rise by 33% to around 257,000 appliances in the current year.
The BWP forecast even stronger growth if there were additional impetus, such as relief on electricity prices.
The Federal Funding for Efficient Buildings (BEG) heating subsidy programme, which was launched by the German government in February 2024, has approved funding for more than 151,000 applications, the group said. Read More
Panamanian authorities began an audit of the China-linked company that controls two ports adjacent to the Panama canal, as President Donald Trump repeats threats to take over the waterway. Investigation launched
The comptroller’s office sent a team of auditors on Monday to the local offices of Panama Ports Co., a subsidiary of Hong Kong billionaire Li Ka-shing’s CK Hutchison Holdings Ltd., to launch their investigation, the comptroller’s office said on X. Auditors will conduct an “exhaustive” review to “guarantee the efficient and transparent use of public resources,” according to the statement. Read More
China doesn’t operate the Panama Canal; Discussing his desire for the US to take back the Panama Canal, Trump said in his inaugural address that “American ships are being severely overcharged and not treated fairly in any way, shape or form, and that includes the United States Navy. And, above all, China is operating the Panama Canal”.
Officials in Panama have denied Trump’s claims that China is operating the canal and that the US is being overcharged. Ricaurte Vásquez, administrator of the canal, said in an AP interview that “there’s no discrimination in the fees”.
“The price rules are uniform for absolutely all those who transit the canal and clearly defined,” he said.
He also said China was not operating the canal, noting that Chinese companies operating in the ports on either end of the canal were part of a Hong Kong consortium that won a bidding process in 1997.
Vásquez added that US and Taiwanese companies are operating other ports along the canal as well, and stressed that the canal can’t give special treatment to US-flagged ships because of a neutrality treaty. Read More
Emerson recently partnered with Laramie Energy to help the Colorado-based oil and gas producer comply with state and federal emissions regulations. Using ASCOTM zero-emissions electric dump valves, the only such all-electric solution for separators, scrubbers, and compression units, Emerson helped Laramie Energy achieve compliance by eliminating both vented and fugitive emissions from the liquid dump stage of their separation process.
Conventional dump valves are often piloted by well gas, which can leak into the atmosphere as vented and fugitive emissions. Some states, including Colorado, have emissions regulations that include fines for noncompliance, and the Environmental Protection Agency (EPA) has established a waste emissions charge for methane emissions that exceed specified thresholds.
If fugitive emissions are detected, the EPA requires oil and gas producers to report their greenhouse gas data and conduct tests, surveys and repairs. Companies that fall out of regulation must pay expensive fines and waste subsequent downtime to reestablish compliance.
In comparison, ASCO zero-emission electric dump valves use ultra-low-power electric actuation, which removes the need to vent well gas in upstream applications. And, unlike traditional dump valves, they are fugitive-emissions-free by design because they have no valve packing.
With precise control, ASCO electric dump valves actuate in 50 to 75 milliseconds compared to conventional valves that take several seconds, thus virtually eliminating any chance of gas blowby. This helped Laramie Energy better maintain the static pressure of their vessels which ultimately led to an increase in natural gas production. The valves also use 1.2 watts (W) of energy compared to a conventional electric retrofit kit that uses 96 W, reducing valve power usage by 98.75%. Read More
U.S. President Donald Trump signed on his first day in office an executive order to unleash America’s energy by easing the barriers to oil and gas extraction and production and revoking a series of climate orders by President Biden. The declaration includes measures to expedite the delivery of energy infrastructure, emergency approvals by agencies “to facilitate the identification, leasing, siting, production, transportation, refining, and generation of domestic energy resources, including, but not limited to, on Federal lands.” The new policy also includes the elimination of the “electric vehicle (EV) mandate” and the promotion of true consumer choice, which is essential for economic growth and innovation, by removing regulatory barriers to motor vehicle access. The measure would ensure a level regulatory playing field for consumer choice in vehicles, the Trump White House said.
Where appropriate, state emissions waivers that function to limit sales of gasoline-powered automobiles shall be eliminated. Moreover, the Administration will consider the “elimination of unfair subsidies and other ill-conceived government-imposed market distortions that favor EVs over other technologies and effectively mandate their purchase by individuals, private businesses, and government entities alike by rendering other types of vehicles unaffordable.” Read More
Oil prices dropped ahead of Donald Trump’s first day back in office, with expectations of a stronger dollar and a delay to his tariff threats both boosted bearish sentiment.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $76.40 | Down |
| Crude Oil (Brent) | USD/bbl | $79.13 | Down |
| Bonny Light 21/01/25 CBN | USD/bbl | $82.20 | Down |
| Dubai | USD/bbl | $80.90 | Up |
| Natural Gas | USD/MMBtu | $3.82 | Up |
| Murban Crude | USD/bbl | $82.27 | Down |
| OPEC basket 20/01/25 | USD/bbl | $82.17 | Down |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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