London, February 06, 2025 (Oilandgaspress) –-Oil edged lower as concerns that trade war between the US and China would hurt global growth. China announced retaliatory measures against Trump’s tariffs. China will place levies on a range of US goods, including oil and liquefied natural gas, in response to Washington’s “unilateral imposition of tariffs,” the chinese finance ministry reportedly said.
WTI for March delivery slid 0.6% to settle at $72.70 a barrel in New York.
Brent for April settlement rose 0.3% to settle at $76.20 a barrel.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $71.57 | Down |
| Crude Oil (Brent) | USD/bbl | $75.14 | Down |
| Bonny Light 03/02/25 CBN | USD/bbl | $79.37 | — |
| Dubai | USD/bbl | $80.41 | — |
| Natural Gas | USD/MMBtu | $3.347 | Down |
| Murban Crude | USD/bbl | $77.64 | Up |
| OPEC basket 05/02/25 | USD/bbl | $77.17 | Down |
Saab UK announces the official opening of its new state-of-the-art manufacturing facility in Fareham, Hampshire, marking a milestone in the company’s continued growth. The campus was opened by the Rt Hon Jonathan Reynolds MP, Secretary of State for Business and Trade.
Saab UK celebrated the official opening of its new state-of-the-art, three-building campus on 4th February, 2025. The site is developing, manufacturing, and supporting Saab’s radar systems and market-leading Seaeye underwater robotics portfolio. This includes the 3D multi-mission radar, Giraffe 1X, and the all-electric subsea remotely operated vehicle, Seaeye SR20. The opening marks the conclusion of the investment pledged by Saab in 2023. The site supports up to 400 jobs and provides local opportunities for apprenticeships. It enhances the UK’s sovereign radar and underwater robotics manufacturing capabilities, serving both domestic customers and international export markets, with capacity for further growth.
Saab’s new campus is expected to significantly benefit the UK Ministry of Defence. The site is a centre of excellence ready to meet future customer radar requirements and servicing, in addition to supporting in-service radars operated by the UK Armed Forces; the Giraffe 1X, Giraffe AMB air defence radars, and TAIPAN (Arthur) artillery locating radars. Read More
Sønderborg Airport has chosen Saab to supply its Digital Tower solution, making it the first airport in Denmark to adopt this modern technology. The solution improves operational efficiency, avoids the need for a new physical tower, and ensures all local air traffic control jobs are retained.
Saab’s Digital Tower has been selected by Sønderborg Airport as part of the airport’s transformation into a key aviation hub for southern Denmark. This project is an important milestone as the airport becomes the first in Denmark to operate with a digital air traffic control tower, eliminating the need for a costly physical structure while maintaining efficiency and safety. Thus, future-proofing the airport and its services.
Sønderborg Airport will receive the latest model of Saab’s r-TWR product, tailored for small and regional airports. The r-TWR Compact RTM offers features that support safe and efficient digital Automatic Flight Information Service (AFIS) operations, allowing the airport to remain fully operational throughout the transition. Saab Denmark A/S is set to deliver the TactiCall VCS (Voice Communication Solution) to Sønderborg Airport’s digital tower, facilitating efficient air traffic services. This solution supports seamless communication between ground control and air traffic, as well as between various ground operations. “We are proud to collaborate with Sønderborg Airport in shaping the future of air traffic control. We are excited to contribute our expertise to this transformative project in Denmark,” says Per Ahl, CEO at Saab Digital Air Traffic Solutions. Read More
DHL Group and Neste have agreed to jointly evaluate how Neste’s renewable solutions such as renewable diesel, also known as “HVO100”, and sustainable aviation fuel can support DHL in its decarbonization targets in air and road transportation.
DHL Group aims to achieve net-zero greenhouse gas emission logistics by 2050. Interim targets by 2030 include electrifying two-thirds of last-mile delivery vehicles and increasing the share of more sustainable fuels across all transportation modes to more than 30%, which includes also the use of sustainable aviation fuel (SAF). Neste, as a leading producer of renewable diesel and sustainable aviation fuel, would support DHL Group in achieving these goals.
To enable DHL Group to achieve its air transportation targets, the parties will develop a commercial model that would gradually lead to the offtake of around 300,000 tons of neat, i.e. unblended SAF per year from Neste by DHL Group by 2030 and enable the sale and purchase of additional volumes of SAF. At the same time, DHL Group and Neste will work together to explore using renewable diesel to support DHL in achieving its decarbonization targets in road transportation. . Read More
Hyundai’s all-electric IONIQ 5 N[1] has been named Favorite Vehicle of 2025 by the Midwest Automotive Media Association (MAMA) at the Chicago Auto Show’s opening breakfast. The IONIQ 5 N earned the win on the strength of its high performance and impressive driver engagement. Around 80 new vehicles of all types were evaluated throughout 2024 by MAMA members, including a membership drive event at Wisconsin’s legendary Road America racetrack. In the end, the IONIQ 5 N outpointed all other eligible models to claim MAMA’s annual capstone award.
“As we continue to celebrate offering America’s Most Awarded EV Lineup, we are humbled to receive this Favorite Vehicle of 2025 award from the prestigious MAMA organization,” said Ricky Lao, director, product planning, Hyundai Motor North America. “Having the opportunity to showcase our newest vehicles’ capabilities both on and off the track at MAMA driving programs is an incredible opportunity to reach automotive press who represent hundreds of media outlets.” Read More
Hyundai and Culture Brands continue its mission to deepen Hyundai’s authentic connection with the African American community. This latest campaign exemplifies the brand’s commitment to cultural resonance by collaborating with the renowned Invisible Collective. Directed by Nate Edwards, celebrated for his expertise in magical realism and cultural storytelling, the campaign showcases how the Sonata Hybrid enriches the dynamic, tech-driven lifestyles of today’s couples, keeping their routines fresh and their connection vibrant. Adding to the creative excellence, the spot was edited by Vinnie Hobbs, a three-time MTV Video Music Award nominee for Best Editing.
“’Play for the Car’ reflects Hyundai’s focus on capturing life’s meaningful moments and how our vehicles can help create them,” said Sean Gilpin, chief marketing officer, Hyundai Motor America. “It’s about how the Sonata Hybrid empowers our customers to pursue their passions with confidence and style.” Read More
Ford’s electric vehicle and software business lost $5.1 billion in 2024, up from $4.7 billion lost in 2024. And the automaker doesn’t anticipate any relief this year, when it predicts it will lose as much as $5.5 billion on its EV business.
Ford reported its fourth quarter and full-year earnings on Wednesday, beating Wall Street expectations, according to CNBC. Read More
McDermott announces the safe and successful completion of transportation, installation, and commissioning activities for the Kikeh subsea gas lift project, awarded by PTTEP Sabah Oil Limited (PTTEP) in the first quarter of 2024.
The project, executed by the company’s Kuala Lumpur (KL) based team, in water depths of approximately 1,400 meters, progressed on a fast-track schedule. It involved the replacement of an existing gas lift riser, and the installation of a new dynamic riser section, flowline, and two thermoplastic composite pipe jumpers. Rigorous safety protocols, readiness planning, robust engineering, and procurement efforts ensured seamless vessel mobilization, and completion of the offshore scope of work in under eight months.
“Completing the project ahead of schedule stands as testament to McDermott’s capabilities in delivering safe and efficient solutions for deepwater field development projects,” said Mahesh Swaminathan, McDermott’s Senior Vice President, Subsea and Floating Facilities. “This project adds to our successful project execution track record and highlights our commitment to operational excellence, the importance of collaboration and teamwork, and the value of leveraging local expertise and resources to exceed customer expectations.”
Kikeh is a producing field, located approximately 75 miles (120 kilometers) northwest of Labuan Island, offshore Sabah, East Malaysia. It came on stream in 2009 as one of the largest deepwater developments in Malaysia, at the time. The work completed by McDermott includes upgrades essential to maintaining gas delivery to the subsea production system tied back the Kikeh floating production storage and offloading vessel.
McDermott’s KL office serves as a strategic hub for the company’s Subsea and Floating Facilities business line. It is home to the company’s engineering center of excellence with a growing workforce surpassing 1,000 employees, all supporting offshore deepwater project execution in Malaysia, and in other locations across the globe. Read More
Researchers at the University of Texas at El Paso (UTEP) are developing a technology that could allow electric vehicles (EVs) to charge while in motion. A UTEP research team is collaborating with engineers to develop Dynamic Wireless Power Transfer (DWPT) roadways. The technology embeds transmitter pads in road surfaces, enabling EVs to charge while driving without requiring a wired connection.
The UTEP team specifically worked on modeling the load demand on the electrical grid to make the technology work seamlessly.
“The field of electrified transportation is evolving, and modeling the load demand on our electrical grid is a very significant part of the work,” said Mandal. “Our research will allow for a comprehensive understanding of new EV charging methods to ensure sustainable use of our transportation infrastructure coupled with power utilities,” said Paras Mandal, a professor at UTEP and the study’s principal investigator, in a statement.
Seamless EV charging Innovative new techniques are being developed to make charging EVs easier as they grow more prevalent on the road; it is predicted that 7.2 million EVs will be sold annually by 2030. Nowadays, the majority of EVs are charged at home electrical outlets or at public charging stations. Read More
During the period from 27 to 31 January 2025, Eni acquired on the Euronext Milan no. 3,699,893 shares (equal to 0.11% of the share capital), at a weighted average price per share equal to 13.5139 euro, for a total consideration of 49,999,966.87 euro within the second tranche of the treasury shares program approved by the Shareholders’ Meeting on 15 May 2024, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999, for the purpose of paying to the Shareholders an additional remuneration compared to the distribution of dividends. Read More
A new Arthur D. Little (ADL) report released today outlines the vital role that energy companies can play in reducing the risk of deindustrialization within Europe by supporting the transition to a more competitive and sustainable industrial landscape.
The report, Deindustrialization Threat: How energy companies can retain industries in Europe explains the current challenges that energy-intensive industries, such as chemicals, metals, steel and automotive, face due to high energy costs, supply chain tensions, and increased regulations, as well as setting out how the energy sector can act as a catalyst for greater resilience.
Since 2022, manufacturing production has declined in many European countries, with recent plant closures announced in multiple sectors. Given that energy-intensive industries are responsible for around 9% of total industrial employment and that they have a high multiplier effect on other sectors, a shift in production from the region would have fundamental economic, social, and energy impacts across the continent.
Energy, and energy companies (generators, network operators and retailers) are central to European industrial competitiveness. Demonstrating the scale of the challenge, ADL calculates that European wholesale electricity prices were €79.6 per megawatt hour (MWh) in 2024, compared to €55.4 MWh in the United States and €60 MWh in China. The gap in wholesale gas prices is even greater, ranging from just €5.9 per MWh in the US, to €31.7 MWh in Europe.
The report outlines how energy companies must therefore go beyond energy provision to act as architects and lobbyists of a competitive industrial future, based on four key levers – innovative pricing models, operational efficiencies, technology innovation, and market design & regulation. By moving beyond their traditional roles they will safeguard their own futures, as well as that of their industrial customers.
Florence Carlot, Partner at Arthur D. Little, comments: “Europe’s industrial heartbeat faces unprecedented challenges due to high energy costs and fierce global competition. This trend has the potential to dramatically reshape the European manufacturing landscape and impact wider society. Successfully overcoming these issues requires all energy players to work together to enhance resilience, taking a proactive leadership position to build a sustainable future for European manufacturing.” Read More
Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, and Nippon Gas Line Co., Ltd. (NGL) have jointly acquired Approval in Principle (AiP)(Note1) from Nippon Kaiji Kyokai (ClassNK) for a low-pressure type liquefied CO2 (LCO2) carrier to serve in coastal transportation. Demand for LCO2 carriers is expected to grow in tandem with CCS (carbon dioxide capture and storage) projects involving marine transport of CO2 captured in Japan to storage sites. Mitsubishi Shipbuilding and NGL received AiP certification from ClassNK following a jointly conducted concept study on low-pressure type coastal LCO2 carriers, assuming their use for transport from small-scale CO2 capture sites mainly in the Seto Inland Sea area to base site toward overseas storage sites. The concept study has been conducted in conjunction with the FY2024 “Japanese Advanced CCS Projects” carried out by the Japan Organization for Metals and Energy Security (JOGMEC). The LCO2 carrier receiving the newly acquired AiP is a versatile small-sized ship designed for use in domestic sea. MHI Group is currently pursuing strategic measures to strengthen its business for the energy transition. In conjunction with this initiative, Mitsubishi Shipbuilding is making efforts to contribute to the advancement of the maritime industries in Japan and around the world by utilizing its shipbuilding-based marine engineering technologies in addition to the conventional shipbuilding. Mitsubishi Shipbuilding will actively promote the development of LCO2 carriers and the establishment of CCS value chains through collaboration with various domestic/overseas companies. Read More
nZero Group, UK’s leading measurement and control partner across the biomethane, hydrogen, natural gas, and petrochemical sectors, and at the forefront of the UK’s drive to decarbonise. nZero Group recognises the huge opportunity in the UK and Europe (and globally) for larger CO2 emitters to accelerate their decarbonisation plans to ensure their products remain competitive. This is largely driven by the phasing out of the existing EU Emission Trading System (EU ETS) and the phasing in of the new EU Carbon Border Adjustment Mechanism (CBAM), a key enabler to help Europe reduce emissions by at least 55% by 2030 (from 1990 levels).
nZero Group has appointed Mike Shepherd to lead the nZero Group’s business development initiatives across the emerging energy transition market for CO2 and H2 measurement.
Mike Shepherd has more than 25 years, in the global Oil & Gas market, operating at senior levels throughout his career. Prior to joining nZero Group, Mike was leading the business development initiatives across the emerging energy transition market for CO2 and H2 measurement and digital solutions for a global energy business. Read More
DNO ASA, reported 2024 revenues of USD 667 million on the back of stellar production in the Kurdistan region of Iraq in a year marked by continuing North Sea expansion. Cash from operations increased nearly 50 percent to USD 433 million year-on-year. Operating profit dropped to USD 6 million reflecting the Company’s decision to take non-cash impairments of USD 146 million in its accounts, part of which was previously reported. Net production climbed 50 percent year-on-year to 77,300 barrels of oil equivalent per day (boepd), to which Kurdistan contributed 59,000 boepd, North Sea 15,200 boepd and West Africa 3,100 boepd. At Kurdistan’s Tawke license (75 percent and operator), DNO increased gross production from the Tawke and Peshkabir fields by 70 percent year-on-year to 78,600 boepd in 2024, with oil sold at its Fish Khabur terminal as the Iraq-Türkiye export pipeline remained shut in. Sales prices averaged USD 35 per barrel with payments deposited into DNO’s international bank accounts ahead of deliveries. At these prices, Tawke license sales generate around USD 10 million per month of free cash flow to DNO. Maintaining strict capital spending discipline, DNO drilled no new wells on the Tawke license in 2024. Notwithstanding, output was increased by bringing three previously drilled wells onstream and by workovers and interventions on more than 20 other wells across the license. Read More
DNO ASA, the Norwegian oil and gas operator, today announced that pursuant to the authorization granted at the Annual General Meeting held on 6 June 2024, the Board of Directors has approved a dividend payment of NOK 0.3125 per share to be made on or about 21 February 2025 to all shareholders of record as of 14 February 2025. DNO shares will be traded ex-dividend as of 13 February 2025.
| Dividend amount: | NOK 0.3125 per share |
| Declared currency: | NOK |
| Last day including right: | 12 February 2025 |
| Ex-date: | 13 February 2025 |
| Record date: | 14 February 2025 |
| Payment date: | 21 February 2025 (on or about) |
| Date of approval: | 5 February 2025, based on authorization granted 6 June 2024 |
The new Opel Grandland impresses with its attractive styling, groundbreaking technologies, clever solutions, lots of space and completely electrified range of drivetrains. The ‘Golden Steering Wheel 2024’2 winner is available as the fully electric Grandland Electric, the Grandland Hybrid with 48-volt technology and the powerful Grandland Plug-in Hybrid. The team around Grandland chief engineer Dirk Kaminski has now put the clever plug-in hybrid drive concept to the test – with astonishing results that will impress company car and long-distance drivers.
“The WLTP values3 are clear: According to the official test cycle, our new Grandland Plug-in Hybrid offers a combined range of up to 897 kilometres, of which up to 87 kilometres are purely electric,” said Dirk Kaminski. “But we thought to ourselves: Let’s see what the car can really do. Our new top-of-the-range SUV will definitely break the 1,000-kilometre mark with a full tank and a full charge. After all, the Grandland is ‘made in Germany’ through and through and rolls off the assembly line in the ultra-modern Eisenach factory. So we put it to the test – under conditions that are worse than in the official test cycle.” Read More
Baker Hughes Rig Count: U.S. +6 to 582 Canada +13 to 258
U.S. Rig Count is up 6 from last week to 582 with oil rigs up 7 to 479, gas rigs down 1 to 98 and miscellaneous rigs unchanged at 5.
Canada Rig Count is up 13 from last week to 258, with oil rigs up 12 to 186, gas rigs up 1 to 72 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 | 31 January 2025 | 582 | +6 |
| Canada | 31 January 2025 | 258 | +13 |
| International | December 2024 | 909 | -10 |
| Baker Hughes |
At the end of January, at the Mercedes-Benz plant in Wörth the handover of 14 Actros L trucks with the new ProCabin to Tevex Logistics GmbH was celebrated. The logistics company from North Rhine-Westphalia specialises in refrigerated transport and supplies food retailers throughout Germany. The vehicle handover is the first step in a comprehensive renewal of the company’s fleet. The order totals 150 Actros L vehicles, which will be delivered this year, and represents a milestone in the long-standing partnership between Tevex and Mercedes-Benz Trucks. A further 50 Actros L are under option.
“Our relationship with Mercedes-Benz Trucks is more than just a business relationship. It is characterised by trust, continuous exchange and a shared passion for innovation. With the new Actros L ProCabin, we are relying on vehicles that not only impress with their outstanding technology, but also with their special looks,” explained Dirk Mutlak, Managing Director of Tevex Logistics GmbH. “These vehicles aren’t just visual eye-catchers, they offer us technologies to make our business even more efficient, sustainable and traffic safe.”
The new Actros models are not only distinguished by their striking, white and red Tevex decals, but also come with plenty of innovations. The biggest eye-catcher is the new “ProCabin” cab, which reduces fuel consumption through improved aerodynamics and thus contributes to increased efficiency and reduced CO2 emissions. In addition, the use of Fleetboard keeps the focus on consumption at all times. Among other things, Fleetboard provides data on the deployment, driving behaviour and status of the trucks in real time and offers intelligent networking of drivers, fleet and order.
For its daily trips, the haulage company also wants the best safety standards for drivers and road tr Read More
2025 in local public transport in the Italian city of Asti is getting off to an electric start and, at the same time, is also celebrating a European premiere: the public transport operator Asti Servizi Pubblici S.p.A. (in brief: ASP S.p.A.) in the Piedmont region receives the first battery-electric Mercedes-Benz eCitaro K buses that have been manufactured since the start of series production in autumn 2024. The four compact premiere vehicles with a length of just 10.63 metres have been handed over together with 12 eCitaro12-metre regular-service buses as result of a tender. In addition, another eCitaro solo bus was ordered in autumn 2024. This means that ASP S.p.A. will have a total of 17 new battery-electric regular-service vehicles at its disposal in the future. The handover ceremony and premiere of the eCitaro K, which took place at the ASP S.p.A. premises on 5 February 2025, was attended by numerous high-ranking personalities from politics and business, as well as Maurizio Rasero, the Mayor of Asti, and representatives of Daimler Buses. Read More
Following the reveal of Renault 4 E-Tech electric, Renault is announcing several major events to accompany the launch of the new vehicle in 2025:
At the Rétromobile show through to 9 February, the 1970s icon Renault 4 Super will be on display alongside its contemporary reboot, Renault 4 E-Tech electric.
From 19 to 20 February at the rally village of the 4L Trophy in Biarritz.
In May, for the international press road tests and a demonstration of dynamic performance.
From 19 May to 8 June at the Roland Garros French Open tennis tournament, where Renault is a premium partner for the fourth consecutive year.
From 20 to 22 June at festiv4L, a celebration of music at the Chalet des Îles in the Bois de Boulogne area of Paris.
In July, for the opening of Renault Carwalk at the brand’s historic address on the Champs-Elysées.
Coinciding with these events, Renault is also presenting a unique collection of merchandise dedicated to the hippy chic world of Renault 4 E-Tech electric. Read More
The Board of Directors of Vestas Wind Systems A/S has decided to initiate a share buy-back programme of up to DKK 746m (approx. EUR 100m).
The share buy-back programme is initiated pursuant to the authorisation granted to the Board of Directors by the annual general meeting in April 2024, which authorises Vestas to acquire treasury shares at a nominal value not exceeding 10 percent of the share capital at the time of the authorisation.
The share buy-back programme will be executed in accordance with Regulation No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (MAR) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (the “Safe Harbour” rules).
Purpose
The purpose of the share buy-back programme is to adjust Vestas’ capital structure.
Time frame
The share buy-back programme will run from 6 February 2025 to 28 March 2025, both days included.
Terms
Vestas has appointed Danske Bank as lead manager for the share buy-back programme. Danske Bank will make its own trading decisions independently of and without influence or involvement from Vestas.
Under the share buy-back programme, Vestas may repurchase shares up to a maximum amount of DKK 746m, and no more than 15,000,000 shares, corresponding to 1.5 percent of the share capital of Vestas Wind Systems A/S. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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