London, February 13, 2025 (Oilandgaspress) –- Oil prices fell once again today, following a statement by U.S. President Donald Trump who said the presidents of both Russia and Ukraine had separately expressed a willingness to reach a peace deal. Brent futures fell to $74.38 a barrel, while US West Texas Intermediate (WTI) crude declined to $70.52 a barrel. OPEC says it would not change its production policy.
The French Energy Regulatory Commission (CRE) has imposed a fine of 4 million Euros on Equinor for two cases of REMIT* violation in connection with the booking of annual gas transmission capacities, one in 2019 and one in 2020. Equinor will appeal the decision. The case concerns the booking of annual gas transmission capacities on capacity auctions relating to the French-Spanish network interconnection point Pirineos (PIR) back in 2019 and 2020. CRE finds that Equinor has colluded with Danske Commodities in the first round of the same annual gas capacity auctions by reserving more than the maximum volume of capacity offered for sale. Danske Commodities have been fined 8 million Euros and will appeal the decision. Read More
Saab will reveal the new Coast Control Radar at the upcoming International Defence Exhibition and Conference (IDEX) in the United Arab Emirates (UAE). It is a next generation, phased-array, non-rotating, software defined radar developed in the UAE. The safeguarding of territorial waterways and maritime traffic is increasingly important to the safety and security of both the vessels, national sovereignty and the wider global economy. Saab’s Coast Control Radar contributes to those objectives with a compact, modular design that ensures exceptional performance, including the tracking of smaller vessels in the most demanding coastal environments. Designed for easy integration into infrastructure such as buildings, towers, and waterway bridges, the Coast Control Radar ensures flexible installation and can offer comprehensive 360-degree coverage. Its modular design minimises installation challenges while also offering routine software upgrades for continued exceptional detection and performance. Developed at Saab’s research and development facility located in Tawazun Industrial Park in Abu Dhabi, the Coast Control Radar underscores the company’s long-standing commitment to investing in the UAE’s defence and security ecosystem. Visit Saab during IDEX 2025 at stand 07/B41 Read More
Eeva Sipilä, a member of the Board of Directors and the Chair of the Audit Committee of Neste Corporation, has announced her resignation from the Board of the company as of today. The reason for the resignation is her appointment as Neste’s Chief Financial Officer as of 1 May 2025, at the latest. The stock exchange release on the appointment was published on 28 October 2024. After Sipilä’s resignation Neste’s Board comprises eight members. The Chair of the Board Matti Kähkönen performs the duties of the Chair of the Audit Committee until the new Board to be elected at the Annual General Meeting on 25 March 2025 has organized itself. Read More
Eni and Renault Group are delighted to announce an agreement to identify and develop future opportunities for collaboration in the decarbonisation of the transport sector. Under the terms of the agreement, the companies will work towards identifying joint business development paths across various sectors, including electric mobility infrastructure, smart mobility services, and energy supply solutions that can support the transition process. A first tangible achievement of this agreement will be the acquisition of Renault vehicles by Enjoy, Enilive’s car sharing service. BWT Alpine Formula One Team and Eni are also delighted to announce the return of Eni to the FIA Formula 1 World Championship, as the Italian company becomes its Official Energy and Fuel Partner on a multi-year agreement.The announcement marks a return of Eni to an Enstone-affiliated team since the brand’s last involvement with a team in Formula One with Benetton in 2000. The team will collaborate with Eni to activate its Enilive brand at select races throughout the 24-race season. Read More
Jori Sahlsten, M.Sc. (Paper Technology), has been appointed as Executive Vice President, Oil Products, and member of the Neste Leadership Team as of 13 February 2025. Markku Korvenranta will continue as Executive Vice President, Chief Operating Officer, and member of the Neste Leadership Team. Sahlsten will report to President and CEO Heikki Malinen. Sahlsten has been holding the position of Senior Vice President, Refining, Oil Products at Neste. Read More
The shares in Equinor ASA will as from today be traded on Oslo Stock Exchange exclusive the third quarter 2024 cash dividend as detailed below.
Ex. date: 13 February 2025
Ordinary cash dividend amount: 0.35
Extraordinary cash dividend amount: 0.35
Announced currency: USD
This information is published in accordance with the requirements of the Continuing Obligations and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act Read More
Neste Corporation, Stock Exchange Release
As a result of the company’s significantly changed market environment and weakened financial performance as well as a comprehensive full potential analysis started in October 2024, Neste has decided to start a performance improvement program. The goal is to secure our strong market position and cost competitiveness in renewable fuels and to enhance Neste’s financial performance. The program targets a total of EUR 350 million EBITDA run rate improvement by the end of 2026, of which EUR 250 million from operational costs.
The Rotterdam growth investment project continues, but schedule and costs have been re-evaluated. Due to the challenging contractor market, the scheduled start of commercial operations has been delayed from 2026 to 2027. Furthermore, the estimation for investment cost has been increased from EUR 1.9 billion to EUR 2.5 billion. Several actions have been taken to ensure that the project proceeds on the updated schedule and budget.
Renewed focus and strict capital discipline
In 2025-2026, Neste plans to refocus from growth and development to efficiency and profitability, including capital discipline. The company’s performance improvement program focuses on commercial acceleration and supply chain optimization, improved refinery performance and safety, external cost reduction, and operating model simplification.
Neste continues to strengthen its competitive advantage by developing its current raw material base, novel vegetable oils sourcing and lignocellulosic raw materials research.
The company plans to scale down investments in the development of algae and Power-to-X. In Renewable Products, Neste is planning to streamline its renewable and circular polymers and chemicals activities, focusing on renewable fuels. The company also considers simplifying its commercial models and streamlining its sales channels for renewables to accelerate sales growth. The focus of the Porvoo refinery transformation is planned to be on energy efficiency and renewable hydrogen while other components of the plan are considered to be delayed.
Neste maintains strict capital discipline throughout the company and in the coming few years, our capital expenditure beyond the Rotterdam investment is expected to be on an annual level of approximately EUR 0.5 billion with focus on safety and reliability investments. Read More
Horisont Energi today announced the following changes to the Board of Directors of Horisont Energi:
Dr. Gabriël Clemens stepped down, effective 12 February, as E.ON Energy Projects GmbH’s representative in Horisont Energi AS and consequently as Chair of the Board. Dr. Clemens will leave E.ON to take up the position as CEO of MVV Energie AG, Mannheim, from April 1, 2025.
E.ON Energy Projects GmbH has in accordance with the by-laws in Horisont Energi AS appointed Frode Sigurd Berg to the board in Horisont Energi AS, effective 12 February 2025.
Leif Chr. Salomonsen who has served as deputy Chair of the Board has informed the Company that he wants to resign from his board duties effective 12 February, for private reasons.
The Board of Horisont Energi AS constituted Frode Sigurd Berg as new Chair in a board meeting convened on 12 February.
E.ON Energy projects GmbH is engaged in playing a role in the energy transition and will continue to actively support Horisont Energi’s projects’ development going forward. By nominating Frode Sigurd Berg as a board member E.ON is selecting a Norwegian, experienced business executive with a track record from several public and private industrial companies, including two decades in the international oil and gas industry. He started his career with Esso Exploration and Production before joining Phillips Petroleum and then moving on to entrepreneurial activities in MultiFluid/Roxar. In the following years Mr. Berg has been the CEO of agriculture implements supplier Kverneland Group, as well as CEO of the investment company Hitec Industries. Read More
Vestas announced the initiation of a share buy-back programme, ref. Company Announcement No. 03/2025. The programme is implemented 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’s delegated regulation (EU) 2016/1052 of 8 March 2016 (the “Safe Harbour” rules).
Under the programme, Vestas will buy back shares for an amount up to DKK 746m (approx. EUR 100m) in the period from 6 February 2025 to 28 March 2025. Read More
Nissan contributed €211 million to Renault Group’s 2024 earnings:
Nissan’s results, published in Japanese accounting standards, for the third quarter of fiscal year 2024/2025 (October 1st to December 31st, 2024), after IFRS restatements, have a positive contribution to Renault Group’s fourth quarter 2024 net income estimated at €59 million[1].
Therefore, Nissan’s contribution to Renault Group Full Year 2024 results amounted to €211 million. As a reminder, following the sales by Renault Group of Nissan shares and the cancellation of the acquired shares as part of the buyback by Nissan, Renault Group’s holding position as of today amounts to 35.71% of Nissan’s capital (17.05% of Nissan shares are held directly and 18.66% are held in the French trust of which Renault Group is the beneficiary). Read More
QuantumScape Corporation (NYSE: QS), a leader in developing next-generation solid-state lithium-metal batteries, today announced its business and financial results for the fourth quarter of 2024, which ended December 31.
The company posted a letter to shareholders on its Investor Relations website, ir.quantumscape.com, that details fourth-quarter financial results and provides a business update. QuantumScape will host a live webcast today at 2 p.m. Pacific Time (5 p.m. Eastern Time), accessible via its IR Events page. Siva Sivaram, chief executive officer, and Kevin Hettrich, chief financial officer, will participate on the call. Read More
Hyundai Motor Manufacturing Alabama (HMMA) today celebrated the grand opening of its new Care Center, a $14 million facility designed to enhance the health and well-being of its team members. Located at a new central site on the southwest corner of the general assembly building on the HMMA campus, the Care Center is set to become a cornerstone for HMMA’s commitment to its 4,000 team members. The newly inaugurated facility houses the HMMA medical clinic, a physical therapy clinic, an Emergency Response Team, a fitness center, and a team wear store, all aimed at providing comprehensive services to HMMA’s dedicated workforce. This investment underscores the company’s focus on fostering a supportive team environment, especially as HMMA prepares to celebrate its 20th anniversary this May.
“We are incredibly proud to unveil this state-of-the-art Care Center,” said Chris Susock, HMMA’s President and CEO. “Our team members are the heart of this company, and this facility is an investment in keeping that heart healthy. This new facility is more than just a place for enhanced medical services; it’s a resource for wellness, fitness, physical therapy, fire prevention, and emergency response. It’s why we are calling it our Care Center. It was specifically designed to support our community of diverse and dedicated Team Members who bring the best Hyundai and Genesis vehicles to life for the North American market.” Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $70.62 | Down |
| Crude Oil (Brent) | USD/bbl | $74.46 | Down |
| Bonny Light 12/02/25 CBN | USD/bbl | $78.64 | Down |
| Dubai | USD/bbl | $79.00 | — |
| Natural Gas | USD/MMBtu | $3.65 | Up |
| Murban Crude | USD/bbl | $76.54 | Down |
| OPEC basket 12/02/25 | USD/bbl | $77.88 | Up |
On February 5, Toyota held its financial results briefing for the third quarter of the year ending March 2025, drawing the following question from reporters:
“ROE is a key financial indicator for investors. How is Toyota planning to boost ROE, and to what level?”
Return on equity, or ROE, is calculated as net income—a company’s year-end profits—divided by shareholders’ equity* and expressed as a percentage. How efficiently does the firm generate profits, using the funds entrusted to it by shareholders? ROE is seen as an important financial indicator for assessing a company’s profitability and the efficiency of its management.
Accounting Group Chief Officer Masahiro Yamamoto prefaced his response with an apology—“This might take a while…”—before explaining what ROE means to Toyota, and retracing the progress made since the global financial crisis. Read More
Elliott Management has taken up a £3.8bn stake in BP, becoming the ailing oil major’s third-largest shareholder, according to reports.
The US fund’s investment in the London-listed petrochemical giant emerged last weekend, shortly before BP reported an anaemic set of full-year results that saw its profit slump to $8.9bn (£7.9bn). The earnings were the latest evidence of the tricky straits the oil group finds itself in after years of underperformance relative to its major US and European competitors. BP’s share price has risen just 1.2 per cent in the past five years, compared with Shell’s 37 per cent and Chevron’s 41 per cent. Between April 2024 and January 2025, BP shares fell by over 28 per cent. Read More
China’s power industry began construction on nearly 100 gigawatts of new coal plant capacity last year, the most in nearly a decade, a report from two clean-energy groups said Thursday. The development raises concerns about the country’s ability to meet its carbon reduction goals and threatens to undercut China’s massive expansion in solar and wind power, which has far outpaced that in the United States and Europe, the report said. The report is part of a review of China’s coal projects done every six months by the Europe-based Centre for Research on Energy and Clean Air and the U.S.-based Global Energy Monitor. Construction began on 94.5 gigawatts of coal power plant capacity in 2024, more than in any year since 2015, according to a worldwide database of coal plants maintained by Global Energy Monitor. Work also resumed on 3.3 gigawatts of suspended projects, the report said. Read More
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