London, December 13, 2024 (Oilandgaspress) –- With global electricity demand set to grow strongly, new technologies are opening up the massive potential of geothermal energy to provide around-the-clock clean power in almost all countries around the world, according to a new IEA report. The report, The Future of Geothermal Energy, finds that geothermal energy could meet 15% of global electricity demand growth between now and 2050 if project costs continue to decline. This would mean the deployment of as much as 800 gigawatts of geothermal capacity worldwide, delivering annual output equivalent to the current electricity demand of the United States and India combined. Geothermal energy offers abundant, highly flexible and clean electricity supplies that can support variable renewable technologies such as wind and solar while complementing other low-emissions sources like nuclear. Today, geothermal meets about 1% of global electricity demand. However, based on a new first-of-its-kind country-level analysis, conducted in collaboration with Project InnerSpace, the IEA report shows that next-generation geothermal technologies have the technical potential to meet global electricity and heat demand many times over.The report highlights that more than 100 countries have policies in place for solar PV and onshore wind, but only 30 have such policies for geothermal. Read More
PIF announced that it has completed the acquisition of a stake of approximately 15% in FGP TopCo, the holding company of Heathrow Airport Holdings Ltd., from Ferrovial SE and certain other FGP TopCo shareholders. Concurrently, Ardian, the private investment house, has acquired approximately 22.6% of FGP TopCo from the same shareholders through a separate vehicle..The investment in Heathrow Airport is in line with PIF’s strategy to support important sectors and businesses as long-term partners as part of its global portfolio of assets. This statement should be read in conjunction with Ferrovial’s statement issued today and its statements issued on November 28, 2023, January 16, 2024 and June 14, 2024, and by PIF on November 29, 2023. Read More
The new Macron Activewear collection for Automobili Lamborghini is launched, expressing innovation, functionality and performance. The second collection from the partnership started in the summer between Macron and Automobili Lamborghini is a perfect synthesis of creativity and passion, essential characteristics for the two companies proudly sharing roots in the same territory: the headquarters of Macron and Automobili Lamborghini are only 30 km apart.
The new Activewear collection represents the perfect encounter between performance and functionality, with fitness and running sportswear designed for both men and women. The garments are made from high-quality technical fabrics that guarantee comfort and freedom of movement. The unique designs are inspired by four iconic Lamborghini colours: Apodis Orange, Vathys Blue, Turbine Green and Pasifae Violet and enriched by embossed graphics, always tone on tone with a hexagonal weave that recalls the leather details of car seats. The men’s collection includes a black rain jacket with Apodis orange detailing with the same colour combination in the turtleneck sweater, while the hoodie is characterized by Turbine green. In all these garments, the Automobili Lamborghini lettering stands out on the back, just below the shoulders and tone on tone. The t-shirts and the sleeveless tank top, which use all four colours both as a base and in the details, are made of new soft jacquard and zephyr softlock fabrics, which are light and comfortable. Shorts and long trousers are also available.
Black and purple Pasifae characterises the entire women’s collection, from the rain jacket to the t-shirt, from the bra to the shorts and leggings. Again, the embossed graphics that characterise all the garments recall the hexagonal pattern of leather details found on Lamborghini car seats. Each garment in the new Activewear collection features a back neck customised with the logos of the two brands and the presence, on sleeves or on the thigh edges of trousers, of the Macron Hero and Automobili Lamborghini logos. Read More
Eve Air Mobility and Signature Aviation, the world’s largest network of private aviation terminals, have signed a Memorandum of Understanding (MoU) to research ecosystem requirements as well as the ground services necessary for safe, efficient and scalable Advanced Air Mobility (AAM) ground operations.
“Following the rollout of our first full-scale eVTOL prototype, we continue to build on that momentum and are looking forward to teaming with Signature Aviation to support eVTOL operations,” said Luiz Mauad, vice president, Services, Operations Solutions, Strategic Design & Ecosystem at Eve Air Mobility. “Eve and Signature will leverage the companies’ combined global presence and experience in servicing aircraft and creating seamless passenger experiences. Signature Aviation’s insight into ground services needs, local knowledge, private aviation terminal operations and passenger services will inform the procedures and ecosystem needed to accelerate preparations for eVTOLs to launch and scale.”
The agreement brings together two seasoned, major players in the global aerospace industry: Eve Air Mobility’s expertise as an eVTOL manufacturer and Signature Aviation’s global network of private aviation terminals. As part of the MoU, the two companies will also explore potential future commercial partnerships. Read More
Airbus Defence and Space has delivered the first Airbus A400M for the Republic of Kazakhstan to become the cornerstone of the country’s tactical and strategic airlift operations.
The first of two Airbus A400Ms ordered by Kazakhstan was handed over to the customer at a ceremony in Almaty, south Kazakhstan, after a ferry flight from Airbus’ A400M Final Assembly Line in Seville, southern Spain, a few days earlier.With the delivery of this aircraft, production number MSN139, Airbus will also provide a full range of maintenance and training support.
To date, more than 130 A400Ms have been delivered to nine countries and have accumulated 200,000 flight hours, participating in missions such as the evacuation of civilian and military personnel from Afghanistan, Sudan and Niger. Combining the capabilities of both tactical and strategic aircraft, the A400M can transport heavy and outsized cargo on to short, unprepared airstrips, flying at low altitudes or dropping up to 116 paratroopers or 25 tonnes of cargo. Read More
Vår Energi confirms an oil discovery in the operated Countach appraisal well near the Goliat field in the Barents Sea. The preliminary estimated gross recoverable resources encountered in the well are between 4 to 25 million barrels of oil equivalent (mmboe), bringing the total estimated recoverable resources in the Countach discovery to 10 to 55 mmboe. The discovery confirms the potential of the Goliat ridge, where additional gross prospective recoverable resources of over 100 mmboe will be assessed with the planned drilling program in 2025.
The appraisal well was drilled following the Countach discovery of 3 to 13 mmboe announced in 2023, which is located about 13 kilometres northeast of the Goliat FPSO, and the results from the well increase the estimated gross recoverable resources for the discovery to between 10 to 55 mmboe. In addition to encountering oil in the Kobbe formation with good reservoir quality, an oil column of over 200 metres was encountered in the Klappmyss formation, which despite being of poorer reservoir quality, opens new opportunities in the deeper section of the Goliat ridge. To assist further development of the Goliat area, Vår Energi is planning to acquire new 3D and 4D seismic during 2025. Read More
Vår Energi launches teaching program in collaboration with the University of Stavanger and Junior Achievement in Rogaland
The initiative wishes to strengthen the innovation and entrepreneurship competence of students at the Institute Department of Energy and Petroleum Engineering and the Department of Energy Resources at the University of Stavanger.
According to Astrid Huglen, VP Learning & Development at Vår Energi, the ability to think outside the box, to find sustainable solutions across disciplines, business sectors and industries, is crucial to meeting tomorrow’s demands on the industry:
Technology development, sustainability goals and the comprehensive EU taxonomy are becoming increasingly strong drivers of societal development. Tasks and issues are becoming more complex, and businesses need to strengthen the ability to adapt now, to be competitive tomorrow.” During one semester, students will be introduced to and trained in the methodology of Junior Achievement based on a real problem developed in collaboration between Vår Energi, the University of Stavanger and Junior Achievement. Huglen is looking forward to the start-up in autumn 2025, and believes the collaboration is a typical win-win situation: Read More
Alfa Romeo 33 Stradale, “Supercar of the Year” at Automobile Awards 2024
This illustrious award once again celebrates an extraordinary project that has become reality in the space of two years, in the form of the imminent delivery of the first model to the first of 33 customers.
It took only two years to turn a dream into reality, and as emphasized by its creation, it took first and foremost a decent dose of courage and a pinch of healthy madness to make this extraordinary project come true. In 1967, the same ingredients made up the car considered by many to be one of the most beautiful of all time, the 33 Stradale.
Today, only a few days ahead of the first car delivery to the first of the 33 members of the “33 Club,” we are celebrating this authentic work of art in motion with yet another award, “ Supercar of the Year ” at the Automobile Awards 2024 . The votes for the Alfa Romeo 33 Stradale were cast by a jury of international automotive experts and motoring journalists. The Alfa Romeo supercar prevailed over other illustrious Italian gems such as the Maserati GT2 Stradale and the Ferrari F80. The award was presented to Marion Beyret, Head of Communications at Stellantis France, at an awards ceremony held in the prestigious setting of the Automobile Club de France on Place de la Concorde, Paris. Read More
Subsea7 announced the award of a sizeable 1 contract by Shell Offshore Inc. in the US Gulf of Mexico.
The project involves the engineering, procurement, construction, and installation of a production flowline and related subsea infrastructure at Shell’s Phase 3 Silvertip development, located in the deep waters of Alaminos Canyon, with depths reaching up to 3,000 metres.
Project management and engineering will start immediately at Subsea7’s office in Houston, Texas, with offshore activities expected to begin in 2026. Craig Broussard, Senior Vice President for Subsea7 Gulf of Mexico, said: “This new award strengthens our diverse portfolio of deepwater projects in the Gulf of Mexico. We look forward to continuing our collaboration with Shell.”. Read More
Vestas has secured a firm and unconditional order for the 1.1 GW Inch Cape Offshore Wind project in Scotland from Inch Cape Offshore Limited, an equal joint venture between ESB and Red Rock Renewables. The agreement is for the supply, installation, and commissioning of 72 V236-15.0 MW wind turbines. Upon completion, Vestas will also deliver a 10-year service agreement followed by an operational support agreement.
“We are incredibly proud to have partnered with our trusted customers on this project. Inch Cape will have a significant impact on UK’s sustainable energy future, and we are grateful to stand at the forefront of this transition. Together with our partners, we are making significant strides towards the UK government’s commitment to quadruple offshore wind by 2030, as a cornerstone of its goal to fully decarbonise electricity by 2030”, says Nils de Baar, President Vestas Northern & Central Europe. Inch Cape Project Director, John Hill said: “Securing the full notice to proceed on the agreement is a great milestone for the project. The 72 V236-15.0 MW turbines are the latest state-of-the-art turbines from Vestas and will generate more than 5TWh of renewable electricity each year, making an important contribution to the UK’s energy security and representing a valuable reduction in carbon emissions.” The Inch Cape project offshore site is in the Scottish North Sea, 15 kilometres off the Angus coast, with the turbine installation harbour being based in the Port of Dundee. According to the current state of planning, wind turbine installation is scheduled to begin in 2026, and the wind farm is expected to be fully operational in 2027. This firm order announcement refers to the conditional agreement announced on 30 September 2024. . Read More
Neste and Finnish AT-Tuote are working together to add a more sustainable multipurpose oil to AT–Tuote’s product portfolio: Using Neste’s renewable feedstock Neste RE™ instead of common fossil raw materials in the product, renewable content makes up more than 90% of the multipurpose oil, leading to an improved carbon footprint compared to fossil-based alternatives. The oil, which will be sold under the brand AT Fossil Free, can be used for purposes such as lubrication, cleaning, moisture displacement or as a penetrating oil.
Renewable Neste RE, consisting of pure hydrocarbons (isoalkanes), is produced in Neste’s refineries from a wide range of 100% renewable raw materials, such as waste and residue oils and fats. Neste RE is a drop in solution that can be used to replace various commonly used fossil, crude-oil derived feedstock in the production of chemicals and polymers. The greenhouse gas emissions over the life cycle of Neste RE are more than 85%* lower than those of conventionally used fossil polymers and chemicals feedstock. The quality, safety and performance of the product for end users are the same as with similar products manufactured from fossil resources.
“This cooperation shows that not only does the new oil have multiple purposes, it shows that our Neste RE does as well,” says Jeroen Verhoeven, Commercial Director for Polymers and Chemicals at Neste. “Whether it is polymers or chemicals, whether it is base chemicals or more complex ingredients, Neste RE is a solution to replace fossil resources in many places.”
The current collaboration is not the first time AT-Tuote and Neste have cooperated on replacing fossil materials in lubricants: In 2019, the companies worked together to launch the world’s first industrial lubricant with nearly 100% bio-based content. Read More
Major order for Mercedes-Benz Trucks from Lithuania. At the end of 2024, the last of a total of 500 new Mercedes-Benz Actros trucks were handed over to the Finéjas Group at a ceremony in Wörth. This special event underlines the trusting cooperation that has proven itself over many years. With this extensive order, the Finéjas Group is demonstrating its confidence in the quality and reliability of trucks from Mercedes-Benz Trucks.
The Mercedes-Benz Actros 1845 LS 4×2 trucks ordered are equipped with the latest generation of the OM 471 engine with 330 kW (449 hp), MirrorCam, Multimedia Cockpit Interactive and the latest safety assistance systems: Active Brake Assist 6, Active Sideguard Assist 2 and Frontguard Assist. The handover of the last trucks was celebrated at a festive event in the Customer Center, which not only offered the guests a look behind the scenes, but also a comprehensive experience of the world of Mercedes-Benz Trucks. During a factory tour, the participants were able to experience the modern production facilities at first hand and gain an impression of the innovations that go into every vehicle “made in Wörth”. Read more
The year 2024 comes to a close following important work by Lamborghini Polo Storico: it was a year full of activities and awards won in the most prestigious international concours d’elegance that further cemented its role as the point of reference for Lamborghini collectors globally. In 2025 Polo Storico will celebrate its tenth anniversary, a significant milestone that attests to this department’s continuous evolution.
“2024 has been a year both challenging and richly gratifying for our entire team,” said Alessandro Farmeschi, After Sales Director of Automobili Lamborghini. “Not only have we achieved excellent results commercially in terms of certifications and restorations, but we have also shared and enhanced the history of the brand and our cars with customers and enthusiasts all over the world.”
In February, Polo Storico participated in The ICE event held in Saint Moritz, where it showcased two iconic models from the Lamborghini Museum on the frozen lake: a 1973 Jarama S and a 1968 400 GT 2+2, both equipped with the legendary Lamborghini V12 engine. Read More
Building on a combination of bold design, efficiency, and roominess, the updated 2025 Taos further improves on the formula with upgraded tech, enhanced styling, and key powertrain updates. As one of Volkswagen’s best-selling nameplates in the United States, the Taos embodies the brand’s signature driving dynamics as well as its focus on quality and versatility. With a wide range of updates for 2025, the Taos continues to be the smart choice for people seeking value without compromise. Pricing for Taos models starts at an MSRP of $24,995 for the S front-wheel drive model and $26,695 for the S 4Motion all-wheel-drive model. Destination fee is $1,425.
Exterior
The changes begin at the front end, where a new bumper design, a new grille with an available light bar, and standard LED projector headlights with available Adaptive Front- lighting System (AFS) offer a more expressive and upscale appearance. Connected taillights and an illuminated Volkswagen badge continue the theme at the rear.
Squared-off wheelarches and a strong character line give the side profile of Taos a sculpted, purposeful look. Roof rails are standard, with S models carrying black roof rails and side mirrors, while SE and SEL models have silver roof rails and body-colored side mirrors. A panoramic sunroof is optional on SE models and standard on SEL. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $70.60 | Up |
| Crude Oil (Brent) | USD/bbl | $73.95 | Up |
| Bonny Light 10/12/24 CBN | USD/bbl | $73.94 | — |
| Dubai | USD/bbl | $72.80 | Up |
| Natural Gas | USD/MMBtu | $3.47 | Up |
| Murban Crude | USD/bbl | $73.89 | Up |
| OPEC basket 12/12/24 | USD/bbl | $73.36 | Up |
Every year, owners of Mercedes-Benz vehicles which have weathered the years marvel at which of the brand’s models and model series find themselves on this threshold to becoming classics. In 2025, for the first time, these include the E-Class of model series 210, the first generation of the Sprinter and models of the SL of model series 129 and the E-Class Coupé of model series 124.
One prerequisite for the coveted H number plate is a classic car certificate in accordance with Section 23 of the German Road Traffic Licencing Code (StVZO). Vehicles can qualify which are 30 years or older. This certificate attests to the good original condition of a classic vehicle. With or without the H number plate: with its services,
Mercedes-Benz Heritage GmbH plays considerable role in keeping classics as well as younger vehicles from throughout the brand’s history in optimum condition. Particular attention is paid to components which are relevant to driving and safety. Mercedes-Benz Classic offers an extremely comprehensive supply of spare parts worldwide with around 160,000 part items. Many are ready for pick-up within 24 hours from just under 3,000 authorised dealers in 170 countries. une 1995: E-Class of model series 210 with “four-eye face”
Mercedes-Benz presents the second E-Class generation in June 1995. Model series 210 sets an unmistakable visual accent with its “four-eye face”. This designation comes from the four round headlamps at the front. The CLASSIC, ELEGANCE and AVANTGARDE feature lines on offer are groundbreaking. The new E-Class initially starts with four diesel engines with four, five and six cylinders, as well as five petrol engines with four and six cylinders, and the E 420 with eight cylinders. In September 1995, the E 50 AMG follows as a top-of-the-line model; its eight-cylinder engine has an output of 255 kW/347 hp. Read More
The Mercedes-Benz JuniorCup has already set its first highlight: on 12 December 2024, VfB Stuttgart player Deniz Undav drew the tournament groups together with VfB sports director Christian Gentner and Mercedes-Benz board member Britta Seeger. In the 33rd edition of the Mercedes‑Benz JuniorCup, eight top U19 teams will compete on 11 and 12 January 2025 at the Glaspalast in Sindelfingen. The JuniorCup teams are divided into four national and four international teams. In addition to the host and defending champion VfB Stuttgart, FC Bayern Munich, 1. FC Heidenheim, Borussia Mönchengladbach (all Germany), Manchester United (England), Sao Paulo FC (Brazil), Servette FC Geneva (Switzerland) and Glasgow Rangers (Scotland) will be taking part. The following constellation was drawn: Read More
The world’s first functional hybrid car
On the basis of this modular system, Porsche also develops the world’s first functional hybrid car, the Lohner-Porsche Semper Vivus (Latin for “always alive”). The concept of the combined gas-powered and electric drive is developed because the batteries frequently cause problems and a charging infrastructure is virtually nonexistent. The Semper Vivus hybrid and Mixte, the optimized version of the series from 1901, resolve these issues with an elegant solution that combines the four-cylinder front engine with a generator to create a mobile electricity supplier. Around 300 vehicles are ultimately produced on the basis of the Lohner-Porsche system. The Viennese fire station receives 40 models; some are used as taxis; and others go to private individuals. But as a practical drive for passenger cars, the wheel-hub motor soon falls by the wayside, with other concepts better suited for mass production. But the technology reappears at a “rocket-like” trajectory in the early 1970s. NASA’s three moon buggies – the lunar rovers of Apollo missions 15, 16, and 17 – are powered by electric wheel-hub motors – thanks, in part, to Porsche’s pioneering work. This came as no surprise to his former boss, Ludwig Lohner. When asked about the engineer at the Paris Exposition in 1900, he said, “That’s a man who has a very big career ahead of him. You’ll hear a lot about him in the future. His name is Ferdinand Porsche.” Read More
Hyundai Motor Group Innovation Center Singapore (HMGICS) commemorated its first anniversary and reinforced the Hyundai Motor Group’s (the Group) vision with Executive Chair Euisun Chung. HMGICS held a town hall on December 12th to celebrate its one-year milestone, share key achievements, and reinforce the organization’s pivotal role in Hyundai’s global innovation strategy. Alongside Executive Chair Chung, key executives from Hyundai Motor – including Jaehoon Chang, the President and CEO of Hyundai Motor Company, Juncheul Jung, Executive Vice President and Head of Manufacturing for Hyundai Motor Group, Hyun Sung Park, CEO of HMGICS, and Alpesh Patel, Chief Innovation Officer of HMGICS – joined the conversation with employees. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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