Oilandgaspress Energy / Automotive News to March 14, 2025, Latest
Qatar is reportedly cutting the price of its al-Shaheen crude for May deliveries to $1.29 per barrel .
London, March 14, 2025 (Oilandgaspress) –-Shell has completed the sale of The Shell Petroleum Development Company of Nigeria Limited (SPDC) to Renaissance, as announced 16 January 2024
The divestment of SPDC aligns with Shell’s intent to simplify its presence in Nigeria through an exit of onshore oil production in the Niger Delta and a focus of future disciplined investment in its Deepwater and Integrated Gas positions. Renaissance now controls SPDC’s 30% stake in the SPDC JV, an unincorporated joint venture with the government-owned Nigerian National Petroleum Corporation (55%), Total Exploration and Production Nigeria Ltd (10%) and Agip Energy and Natural Resources (Nigeria) Limited (5%). Read Related News
The Pineau towing service from Baugé-en-Anjou has expanded its fleet with a powerful Mercedes-Benz Arocs 4163 8×4. The latest acquisition, a heavy-duty truck with Big Space cab, was equipped by GTS (Global Towing System), a Hungarian bodybuilder that has recently entered the French market.
The Arocs not only impresses with its striking white, red and black paintwork, but also with its technical equipment: a 6-cylinder OM 473 engine with a displacement of 15.6 litres and 626 hp ensures sufficient power. In addition, the vehicle has a turbo retarder clutch, which enables smooth moving off at high loads – an important function in the recovery business. The exceptional truck with the three-pointed star also offers a towing capacity of up to 120 tonnes.
The company Pineau was founded in 1973 by Christophe Pineau and over the years has specialised in heavy-duty towing services. Today, he runs the company together with his son Maverick. The Pineau fleet now comprises around 15 vehicles, including four heavy-duty towing vehicles. The Arocs 4163 is the first Mercedes-Benz truck in the company’s history. . Read Related News
HLB Hessenbus GmbH, ww mobility GmbH and the private bus company Alpenland Express operate their routes with new Setra MultiClass LE vehicles. 20 Setra MultiClass LE for HLB Hessenbus The Hessian company is taking delivery of 20 Setra S 515 LE. The platformless low‑entry buses are each equipped with 36 seats and 58 standing spaces, a widened centre aisle and a 360‑degree camera. The 12.2‑metre‑long buses are among the first vehicles to be delivered by the Setra brand with two double‑leaf inward swiveling doors.
The two‑axle vehicles are powered by the OM 936 in-line six-cylinder engine with a displacement of 7.7 litres and an output of 220 kW (299 hp).
With its locations in Kassel, Butzbach and Hofheim, HLB Hessenbus GmbH is a 100% subsidiary of Hessische Landesbahn GmbH and is responsible for local bus transport within the group. The new Setra buses are used on behalf of the Main-Taunus transport company. Read Related News
Daimler Truck Holding AG (“Daimler Truck”) delivered solid financial Group results in 2024, driven by a very strong performance in North America and at Daimler Buses, despite challenges in Europe and Asia. After a record year in 2023, the Company’s financial performance in 2024 was impacted by a slowdown in demand in key markets, particularly affecting Mercedes-Benz Trucks in Europe. The effects in Europe were only partly offset by recovering markets in Latin America. Daimler Truck sold 460,409 commercial vehicles worldwide in 2024,12% less compared to the same period of the previous year (526,053 units). Unit sales of battery-electric trucks and buses increased significantly by 17% to 4,035 (2023: 3,443) units. Group revenue slightly decreased by 3% to €54.1 billion (2023: €55.9 billion). Adjusted EBIT decreased by 15% to €4,667 million (2023: €5,489 million). Adjusted return on sales for the Industrial Business in 2024 was at 8.9% (2023: 9.9%). Driven by a strong Q4, the Free Cash Flow of the Industrial Business increased by 12% to €3,152 million in 2024 (2023: €2,811 million). Earnings per share (EPS) amounted to €3.64 (2023: €4.62), including negative non-cash one-time impacts of impairments and valuation adjustments with an EBIT impact of 591 million euros. Incoming orders declined slightly by 2% in 2024 (417,131 units) compared to the prior year (426,910 units), particularly due to declining demand in the EU30 region and weaker market demand in India, Indonesia and other Asian markets. However, Group order intake in Q4 2024 increased significantly by 15% compared to Q4 2023, driven by a positive development in the segments Mercedes-Benz Trucks and Trucks Asia.
Dividend and share buyback program
Like in the previous year Daimler Truck’s Board of Management and Supervisory Board will propose an unchanged dividend of €1.90 per share for the 2024 financial year (2023: €1.90 per share) at this year’s Annual General Meeting, which will take place on May 27, 2025.
The second tranche of the share buyback program announced in mid-2023 was launched in September 2024 and is expected to be completed by August 1, 2025. Read Related News
The union’s claims in its filings today are categorically false. Volkswagen has negotiated with them for months regarding a shift reduction in Chattanooga. We’ve also repeatedly educated them on the economics that have led to this difficult decision – shifting EV demand and an uncertain market. Our focus remains on our employees. We are committed to supporting those who want to voluntarily separate with competitive benefits, including severance packages, retirement options, and education programs in partnership with the State of Tennessee. We will remain at the table, negotiating in good faith with the UAW to reach a competitive agreement that secures our future. In fact, we’ve already resolved 90% of the UAW’s over 800 demands. Read More
Daimler Truck achieved a solid group result in the 2024 financial year, driven by a very strong performance in North America and at Daimler Buses, while facing challenges in Europe and Asia. Eligible employees of Daimler Truck will benefit from this group result with a profit-sharing bonus of 4,140 euros for the completed financial year. Approximately 25,000 tariff employees in Germany are eligible for this bonus, which will be paid out with their April 2025 salary payment. The profit-sharing bonus at Daimler Truck follows a calculation logic that the company management and the General Works Council agreed on. This model, which is also used for managers, ensures that all employee groups are rewarded in alignment with the company’s economic success. Daimler Truck employees have been receiving a profit-sharing bonus since 1997. Read Related News
Kent, a global leader in engineering and project delivery announced its integral role in the delivery of a major infrastructure project at the Wormington Compressor Station in Gloucestershire, UK. This project, delivered on behalf of United Living Infrastructure Services (ULIS), is designed to enhance the resilience and sustainability of the UK’s gas network.
The Wormington Compressor Station is a critical node in the National Transmission System (NTS) operated by National Gas, connecting gas import terminals in South Wales with the NTS and South West England. As part of the Medium Plant Combustion Directive (MCPD), the project will significantly reduce emissions and improve efficiency by installing a new, state-of-the-art 15MW gas turbine-driven compressor train on greenfield land. The existing Rolls Royce Avon-driven compressor will be retained for reserve use during peak demand and maintenance. Read More
Neste Corporation issues a EUR 700 million green bond with 5-year maturity under its EMTN (Euro Medium Term Note) programme updated on 12 September 2024 and supplemented by the supplement dated 10 March 2025, and will pay a fixed coupon of 3.750 per cent. Neste Corporation will apply for the listing of the bond on Euronext Dublin. The proceeds from the issue will be applied for Eligible Projects and Assets as set out in Neste Corporation’s Green Finance Framework. Read More
Neste Corporation has on 12 March 2025 transferred a total of 27 876 treasury shares without consideration to the participants of Neste Group’s Performance Share Plan 2022-2024 and the Restricted Share Plan 2022-2024 as share rewards based on the terms and conditions of these plans. The plans are part of the share-based incentive scheme 2022 of Neste, announced with a stock exchange release on 10 February 2022.
The transfer of own shares is implemented as a directed share issue without consideration based on a decision made by the Board of Directors of Neste Corporation. The decision of the Board of Directors is based on a share issue authorization granted by the Annual General Meeting of Shareholders on 27 March 2024. After this transfer of own shares Neste Corporation holds 967 448 own shares. Read More
China’s seaborne crude imports rebounded in February, recovering from January’s low as cargo discharges into Shandong resumed. This followed weeks of import disruptions caused by the Shandong Port Group’s shipping ban and OFAC sanctions recently applied to over 150 tankers involved in Russian and Iranian trades. Total seaborne crude imports reached 9.6mbd in February, up 7% m-o-m but down 4% y-o-y, as continued weakness in Shandong’s teapot refiners weighed on demand. China’s imports of Iranian crude were estimated at near 1.5mbd in February, the highest level since October 2024. This increase was largely driven by stranded cargoes finding alternative routes via STS transfers onto non-sanctioned tankers near Chinese waters. Read More
Daily OPEC Basket Price
| 13/03/2025 | $ 73.34 |
| 12/03/2025 | $ 72.55 |
| 11/03/2025 | $ 72.14 |
| 10/03/2025 | $ 72.73 |
| 07/03/2025 | $ 72.54 |
| 06/03/2025 | $ 71.74 |
| 05/03/2025 | $ 72.49 |
| 04/03/2025 | $ 72.37 |
| 03/03/2025 | $ 74.97 |
| 28/02/2025 | $ 75.16 |
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $67.14 | Down |
| Crude Oil (Brent) | USD/bbl | $70.48 | Down |
| Bonny Light 12/03/25 CBN | USD/bbl | $74.43 | Up |
| Dubai | USD/bbl | $71.44 | Up |
| Natural Gas | USD/MMBtu | $4.04 | Down |
| Murban Crude | USD/bbl | $71.45 | Down |
| OPEC basket 13/03/25 | USD/bbl | $73.34 | Up |
His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, ADNOC Managing Director and Group CEO, Chairman of Masdar and Executive Chairman of XRG, said that positive energy and pragmatic actions were needed to drive global growth and power the rise of artificial intelligence (AI). Speaking at CERAWeek in Houston, Texas, Dr. Al Jaber called for durable, stable policies to meet the growing demand for energy. “The world is finally waking up to the fact that energy is the solution. Energy is the beating heart of economies, a key driver of prosperity and is fundamental to every aspect of human development. If we want a pro-growth world, we need pragmatic actions and policies that are pro-growth, pro-investment, pro-energy and pro-people.” Read More
Xpeng Motors held its first press conference in spring. Standing at the starting point of the new decade, Xpeng Motors’ AI car globalization process has been further accelerated, and the global cars 2025 Xpeng G6 and 2025 Xpeng G9 have been officially launched on the market.
The 2025 Xiaopeng G6 , a six-in-one all-electric coupe SUV, will be released in three versions, including the Long-range Max Technology Edition, the Long-range Max Flagship Edition, and the Ultra-long-range Max Flagship Edition, with official guide prices of 176,800 yuan, 186,800 yuan, and 198,800 yuan, respectively. The 2025 Xiaopeng G9, a top technology AI flagship SUV, will be released in three versions, including the Long-range Max, Ultra-long-range Max, and Ultra-long-range four-wheel drive Max, with official guide prices of 248,800 yuan, 258,800 yuan, and 278,800 yuan, respectively. Read More
Bentley Motors has honoured its UK retailer network in the luxury marque’s annual Scorecard Awards, a celebration of the sales, aftersales and marketing achievements of its 17-strong UK retailer network. Crowned Overall Retailer of the Year , Bentley Leeds picked up three awards, with Bentley Belfast also winning the coveted Sales Retailer of the Year trophy.
The Scorecard Awards celebrate high performing teams in Bentley’s home market using a distinct set of measures based on sales, profitability, service loyalty and customer experience. The winners all received a prestigious trophy that was handcrafted in Bentley’s wood shop in Crewe, created in Open Pore Veneer and finished with a Bentley self-levelling wheel badge.
Highly placed in all categories, Bentley Leeds were crowned Overall Retailer of the Year and were also celebrated as Marketing Retailer of the Year and Customer Retention Retailer of the Year. Read More
Bentley has unveiled a truly exceptional example of the co-creation commissioning journey every Batur customer experiences, with a unique result – a car christened ‘The Black Rose’, and themed around the beauty of rose gold.
The Black Rose is one of 18 Baturs being built by Mulliner’s Bespoke Studio, and results from an extensive co-creation journey between the client and Mulliner’s design team. This exquisite car features bespoke ‘Black Rose’ metallic paintwork commissioned by Mulliner exclusively for the customer, with a gloss Beluga upper body. Satin Rose Gold accents adorn the front grille, ‘endless bonnet line’ brightware, mirror caps, lower body kit and 22” tri-tone wheels, which surround the impressive carbon ceramic brakes with black calipers. Restricted to just 18 exclusive examples, the Batur signified the start of a design revolution at Bentley, and its success has been followed by the Batur Convertible, unveiled in May 2024. The Batur Convertible is the third car in Mulliner’s Coachbuilt family, following the Bacalar barchetta and the Batur coupe. Strictly limited to just 16 units, the Batur Convertible is the most powerful W12-powered drop-top Grand Tourer in Bentley’s history. Read More
Lamborghini introduced the all-new Temerario during a special event hosted by Lamborghini Johannesburg at Kyalami Grand Prix Circuit. Guests assembled at the iconic Grand Prix Circuit for the highly anticipated unveiling of Lamborghini’s latest high-performance electrified vehicle (HPEV). Attendees experienced firsthand the cutting-edge design, advanced technology, and exceptional performance that define the Temerario as a true ‘fuoriclasse’—outstanding and in a league of its own.
The presentation featured key addresses from EMEA Director Francesco Cresci and Temerario Product Line Director Paolo Racchetti. Speaking at the launch, Cresci stated: “South Africa is an exciting and rapidly growing market for Automobili Lamborghini, and we are thrilled to introduce the Temerario in Johannesburg. This super sports car sets a new benchmark in power, performance, and unmistakable Lamborghini presence—qualities our clients have been eagerly anticipating.”
Equipped with a revolutionary twin-turbo V8 hybrid powertrain, the Temerario redefines performance, driving dynamics, and comfort. It is the second model in Lamborghini’s HPEV range to enter the Middle East and Africa market, following the debut of the Revuelto[2]. With the recent launch of the Urus SE[3], the Temerario marks the completion of Sant’Agata Bolognese’s hybrid transformation. Read More
Audi of America announced the U.S. offer structure and technical details for the all-new A6 and S6 Sportback e-tron. Expected to arrive at U.S. dealerships this summer, the all-new model stands out as the most aerodynamic and longest-range BEV within the Audi line-up. An elegant interior and exterior give the A6 e-tron model line a distinctive look combined with the functionality of its Sportback design. The latest MMI® system provides sharp graphics, fast processing times and access to user-friendly technologies and controls via the Audi digital stage.
Closely resembling the concept, first shown in 2021, the all-new A6 Sportback e-tron extends the efficiency gains born out of the Premium Platform Electric’s (PPE) first application – the Q6 e-tron SUV, which was introduced to the U.S. market in late 2024. Thanks to an incredibly aerodynamic 0.23 Cd, the rear-wheel drive Audi A6 Sportback e-tron boasts an EPA-estimated 392 miles of range on a single charge when equipped with the ultra® package.The all-new design of the A6 Sportback e-tron family is offered exclusively in a Sportback body style for North American markets. The sweeping silhouette, while aerodynamic and visually appealing, also serves functional purposes. Featuring the ability to fully and independently fold flat the 40:20:40 second row of seats, up to 39.9 cubic feet of interior storage space can be achieved. A load area up to 6 feet 2 inches deep is also possible thanks to the liftgate design of the rear hatch and convenience of the fold flat second row and provides excellent functionality whether for passengers or for ample luggage and other cargo. The A6 Sportback e-tron model family consists of three models, with three different power outputs; the single motor rear-wheel drive A6 Sportback e-tron, the dual motor A6 Sportback e-tron quattro, and the S6 Sportback e-tron which blends dynamic performance and luxury together seamlessly. Read More
Capricorn notes recent press speculation in Egypt that an improved gas price was agreed with the Egyptian General Petroleum Corporation (“EGPC”) with respect to the Western Desert Egyptian concession agreements in which Capricorn and its operating partner, Cheiron Energy, each hold a 50% participating interest.
An initial agreement has been reached with EGPC which outlines terms to promote increased investment and production, including an improved gas price for incremental production and new discoveries alongside modernised commercial terms. The Company can confirm that it is in advanced discussions with EGPC, but any agreement is still subject to approval by the Main Board of EGPC and ratification by the Egyptian Parliament. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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