London, July 16, 2025 (Oilandgaspress) –-From the Middle East to Africa, South America, and even Europe, these are seven large or aspiring producers who are looking to boost their production in the coming years, with some also working on raising their oil production capacities. This is amid heated debates about how quickly and at what cost the world could reach net-zero emissions during constant geopolitical shifts and market turbulence, several oil-producing nations are doubling down on oil and their role in global crude supply.
Several major oil-producing countries—including the UAE, Iraq, Saudi Arabia, Brazil, and Guyana—are expanding production despite global net-zero goals.
As one of the latest exploration hotspots in the world, Namibia is weighing further incentives and financing options to offer to international majors preparing plans for oil production offshore
Equinor, partly owned by Norway, continues to approve major capacity expansions and drills for new discoveries to maintain a high level of oil and gas production on the shelf towards 2035. Read More
Nel ASA reported revenues from contracts with customers of NOK 174 million in the second quarter of 2025, down from NOK 332 million the same quarter last year. Total revenue and income was NOK 215 million (Q2 2024: 356) and EBITDA in the quarter came in at NOK -86 million (Q2 2024: -79). While the financial result from the PEM division was stable compared to the same quarter last year, the Alkaline division was impacted by lack of project milestones in the quarter. Order intake for the quarter was NOK 71 million, and at the end of the quarter the order backlog stood at NOK 1 249 million. The company reported a healthy cash balance of NOK 1 928 million.
Quarterly highlights
• Revenue from contracts with customers in the second quarter 2025 was NOK 174 million, a 48% reduction compared to the second quarter 2024 (Q2 2024: 332).
• Total revenue and income in the second quarter 2025 was NOK 215 million (Q2 2024: 356
• EBITDA in the quarter was NOK -86 million (Q2 2024: -79).
• Net loss was NOK -131 million (Q2 2024: -118). The development was mainly explained by decreased operating loss of NOK -27 million, offset by NOK 16 million increased net financial items.
• Order intake in the quarter amounted to NOK 71 million, a 74% decrease from the corresponding quarter last year (Q2 2024: 270).
• Order backlog was NOK 1 249 million at the end of the quarter, down 40% from the second quarter of 2024 and down 14% from the previous quarter.
• Cash balance was NOK 1 928 million at quarter end (Q2 2024: 2 228).
“I’m pleased with how the company has responded to a continued challenging market. We maintain cash discipline, continue to advance our technology, and stay focused on our strategic priorities,” says Håkon Volldal, President and CEO of Nel.
While still investing aggressively in development of next-generation technologies, management implemented cost reduction and capacity adjustment measures, including a temporary shut-down of the Herøya facility, earlier this year. The measures reduced the cost base in the first half 2025 compared to 2024. . Read More
Trump Shuts Down California’s Electric Vehicle Rules President Donald Trump signed three resolutions dismantling the state of California‘s ability to mandate electric vehicle sales and enforce its own tailpipe emissions standards. Knewz.com has learned that the decision undoes California’s landmark 2024 rule that aimed to ban new gasoline-powered vehicle sales by 2035 and revokes the federal waiver under the Clean Air Act that allowed the state to chart its own environmental path.According to reports, 17 states, representing nearly 30% of the United States vehicle market, had adopted California’s ambitious plan. Trump’s action nullifies their ability to enforce those standards, halting the nationwide momentum toward zero-emission vehicle adoption. The resolutions also repeal California’s requirement for zero-emission heavy-duty trucks. “We officially rescued the U.S. auto industry from destruction by terminating the California electric vehicle mandate once and for all,” Trump declared at a White House press conference.
Several experts have pointed out that President Trump’s decision essentially crippled the United States’ competitive edge in the global electric vehicle market. Michael Gerrard, founder of the Sabin Center for Climate Change Law at Columbia University, said, “The chief winners of this move are the oil industry and China. … Electric vehicles are the main threat to the demand for oil, and this move further cements China as the global leader in producing electric vehicles.” Notably, China now leads the global electric vehicle market and, according to reports, was responsible for two-thirds of global electric car sales in 2024, up from 50% in 2021. Katherine Garcia, director of the Sierra Club’s Clean Transportation for All program, also condemned the decision, saying, “Instead of investing in electric vehicle manufacturing here in the U.S. and leading us toward a healthier future, the administration is ceding EV innovation and leadership to China.” However, EPA Administrator Lee Zeldin defended the action, arguing that California’s waiver had “limited consumer choice for Americans in every state.”
China’s economy beats expectations China’s economy grew more strongly than expected in the second quarter as it proved resilient in the face of Donald Trump’s trade war.
China’s gross domestic product (GDP) grew 5.2% in April to June compared with a year earlier, slowing from 5.4% in the first quarter, but just ahead of analysts’ expectations for a rise of 5.1%. China has so far avoided a sharp slowdown in part due to support by Beijing and as factories took advantage of a US-China trade truce to make shipments before tariffs kicked in, or “front-loading”.
However, investors are bracing for a weaker second half as exports lose momentum, prices continue to fall, and consumer confidence remains low.
Stellantis pulls plug on hydrogen fuel cell vans Stellantis reportedly said it was pulling the plug on plans to build light vans using hydrogen fuel cells, saying it saw no prospects for it to be commercially viable.
The company, whose stable of brands also includes Peugeot, Citroen and Fiat, had planned to begin serial production of commercial vans equipped with hydrogen fuel cells this summer at sites in northern France and southern Poland.
“The hydrogen market remains a niche segment, with no prospects of mid-term economic sustainability,” said Jean-Philippe Imparato, Stellantis’s chief operating officer for the European region.
The company cited limited availability of hydrogen refuelling infrastructure, high capital requirements, and the need for stronger consumer purchasing incentives.
Eni Ghana in collaboration to upgrade gas processing system Eni Ghana, together with its OCTP partners – Vitol Upstream Ghana Ltd (Vitol) and the Ghana National Petroleum Corporation (GNPC) – has completed a major upgrade of its Non-Associated Gas (NAG) system, boosting processing capacity from 246 to 270 million standard cubic feet per day (MMSCFD).
Operational since August 2018, the Offshore Cape Three Points (OCTP) project has become a key contributor to Ghana’s domestic gas supply, providing around 70% of the total, mainly for electricity generation. Starting at 210 MMSCFD, OCTP has steadily increased output through phased optimization and achieving its current milestone of 270 MMSCFD on July 13.
This recent advancement not only increases gas supply but significantly reduces Ghana’s reliance on oil-fueled power generation to a cleaner energy source, delivering both economic and environmental benefits and reinforcing the country’s commitment to a cleaner, more sustainable energy future.
Currently, natural gas from OCTP powers around 34% of Ghana’s electricity, providing homes, industries and businesses with a stable and cleaner energy source. The project’s progress highlights the value of strong partnerships and sustained investment in building a resilient, diverse energy sector for sustainable national development.
Enilive publishes its first sustainability report Enilive, the company dedicated to mobility products and services, has today released its first Sustainability Report, Enilive For 2024.
The report, available online, underscores Enilive’s commitment to delivering increasingly decarbonized solutions that support the energy transition and contribute to Eni’s goal of achieving carbon neutrality by 2050. In 2024, this commitment was evident through the ongoing development of Enilive’s industrial plants worldwide, with a strong focus on enhancing operational efficiency and optimizing efficient use of natural resources. Additionally, Enilive has expanded the production and distribution of new mobility carriers such as HVO biofuels and introduced new services across its network of around 5,300 Enilive Stations in Europe, which serve over 1.5 million customers daily.
Enilive For 2024 reviews the targets, achievements and initiatives undertaken by the company over the past year. In 2024, Enilive continued to strengthen its industrial assets such as the biorefineries in Venice and Gela, as well as the St. Bernard Renewables biorefinery joint venture in Louisiana (US). Enilive also advanced new biorefining projects in Malaysia, South Korea and Italy. The company reaffirmed its 2030 target to increase its biorefining capacity to over 5 million tonnes per year, with the potential to produce more than 2 million tonnes per year of Sustainable Aviation Fuel (SAF), depending on market demand. Enilive’s biorefineries are supplied primarily by renewable raw materials* – mainly waste and residues – in line with a circular economy approach.
The report outlines how sustainability goals are embedded throughout the business. The report showcases Enilive’s sustained focus on the environmental, social and economic impacts, from the initial design of production models to the delivery of its integrated mobility services. The report highlights Enilive’s proactive search for opportunities to implement increasingly sustainable and socially just mobility models, from workplace safety measures to local community projects through its focus on environmental protection to valuing all stakeholders.
Renault Group appoints Duncan Minto as Interim Chief Executive Officer The Board of Directors of Renault Group has decided to appoint, as of July 15, 2025, Duncan Minto as Chief Executive Officer of Renault S.A., for an interim period until the appointment of the new Chief Executive Officer.
Currently CFO of Renault Group, Duncan Minto will ensure the day-to-day management of the company alongside Jean-Dominique Senard, who will hold the position of Chairman of Renault s.a.s., the operating company of the Group, during this period.Since 1997 in the Group, Duncan has a solid experience in finance and a deep understanding of the issues at stake.
Born in 1975, Duncan Minto graduated from the University of St Andrews in Scotland. Duncan Minto joined Renault Group in the UK in 1997. In 2001, he joined the Group’s Finance Department in France, where he was in charge of investor relations.
The selection process for the new Chief Executive Officer of Renault S.A. is already well underway, overseen by the Governance and Remuneration Committee of the Board of Directors.
Renault Group will publish its half-year results on July 31.
Renault Group announces its H1 2025 preliminary financial figures: Group revenue at €27.6bn, up +2.5% operating margin at 6.0% of Group revenue
free cash-flow at €47m (including a significantly negative change in the working capital requirement estimated at c. -€900m, excluding tax effect)
These results have been impacted by a lower than anticipated performance in June with: volumes slightly lower than expected, an increasing commercial pressure due to the continuing decline in the retail market and an underperformance of the LCV business in a sharply declining market in Europe, a level of receivables impacted by billing timing differences over the last days of the month.
Furthermore, the significantly negative change in the working capital requirement in H1 2025 is explained by:
a level of production at the end of 2024 higher than at the end of June 2025,
a higher Group inventories level compared to the end of December 2024 due to lower-than-expected volumes in June. However, total inventories (Group level and independent dealers) stood at 530,000 vehicles at the end of June, down compared to March 2025 (560,000 vehicles).
In order to take into account the deterioration of the automotive market trends with an increasing commercial pressure from its competitors and the anticipation of the continuation of the retail market decline, Renault Group is now aiming to achieve for FY 2025:
an operating margin around 6.5% (versus ≥7% previously)
a free cash-flow between 1.0 and 1.5 billion euros (versus ≥2 billion euros previously)
In this context, Renault Group is pursuing its strict commercial policy, prioritizing value creation over volume to protect its launches. Renault Group is also strengthening its short-term cost reduction plan and is stepping up its initiatives on more structural levers. This plan is mainly based on SG&A cost reduction, manufacturing and R&D savings. All the details will be shared during the half-year results presentation.
OPEC delivers a seminar for the ages The recently concluded, highly successful 9th OPEC International Seminar, which took place at the Hofburg Palace in Vienna, encapsulates so much about what our Organization represents, including its guiding ethos and essential function.
Firstly, the 9th OPEC Seminar demonstrated the Organization’s convening power, welcoming 23 ministers and government officials, 35 leaders from national and international companies and institutions, and 12 heads of international organizations. Overall, 71 speakers and seven moderators spoke across three ministerial panel sessions and seven high-level, round-table sessions. In total, the Organization welcomed over 1,000 participants.
Attracting panelists of this caliber speaks volumes. OPEC remains a critical forum where industry stakeholders can meet counterparts, exchange views, and discuss pressing issues. This convening power is also one of the reasons why 28 companies proudly sponsored our event and showcased their innovations at our exhibition.
Secondly, the Seminar reflected the Organization’s commitment to openness and transparency. We teamed up with 24 media partners, encompassing a range of media outlets hailing from 13 countries spanning five continents. Given OPEC’s extensive range of dialogue partners and our determination to maximize our outreach, we place great value in engaging with a geographically and linguistically diverse range of media bodies. This is why, over the Seminar’s two days, we spoke to multiple reporters in several languages.
Thirdly, the 9th OPEC International Seminar coincided with many important anniversaries, including 56 years since OPEC held its first seminar. Since 1969, OPEC seminars have attracted the industry’s leading thinkers and decision-makers, evolving alongside the parameters in which the oil and gas industry operate.
The theme deliberately used the plural of pathway to underscore the fact that there is no one-size-fits-all formula for our energy future. Every country and community must embark on its own pathway, taking into consideration national circumstances, and common but differentiated responsibilities.
The Seminar delivered powerful messages about future energy policy, which resonated across all panels. The question that the Seminar addressed is how to strike a balance between achieving energy security, enhancing energy access, alleviating energy poverty and reducing emissions.
President of the Republic of Congo meets the CEO of Eni The President of the Republic of Congo, Denis Sassou Nguesso, met today in Brazzaville with Eni’s CEO, Claudio Descalzi, to discuss the numerous and different activities undergoing in the country. The meeting was also attended by the Minister of Hydrocarbons, Bruno Jean Richard Itoua, and the Director of the State Company SNPC, Maixent Raoul Ominga.
During the meeting, Eni’s CEO Descalzi updated the President on the progress of the Congo LNG project, which exploits the country’s gas resources through floating liquefaction plants. Thanks to Congo LNG, the country has joined the group of LNG exporting countries. With the completion of Phase 1 of the Congo LNG project, the country exports 1 billion m³/year. Phase 2, scheduled to start in Q4 2025, will increase exports to 4.5 billion m³/year.
Descalzi also updated President Sassou Nguesso on the progress of vegetable oil production activities for biorefining, enabling Congo to contribute to the global sustainable mobility chain. The start-up of the first agri-hub, with an installed capacity of 30 kt/year of oil, and the strong commitment to agricultural mechanisation marks the project’s transition to the large-scale industrial phase. Production is certified according to the most stringent criteria defined by the European Renewable Energy Directive (RED) that guarantees traceability, sustainability of the production process, and respect for biodiversity, human rights and working conditions.
ACWA to build solar and wind farms in Saudi Arabia In the presence of His Royal Highness, Prince AbdulAziz bin Salman bin AbdulAziz Al Saud, Minister of Energy, ACWA Power, a leader in energy transition, a first mover in green hydrogen, and the world’s largest private water desalination company, the Water and Electricity Holding Company (Badeel), a wholly owned company of PIF, and Saudi Aramco Power Company (SAPCO), a wholly owned subsidiary of Aramco, today announced the signing of power purchase agreements (PPAs) with the Saudi Power Procurement Company (SPPC) as the procurer and off-taker for the development of five large-scale solar photovoltaic (solar PV) plants and two large-scale wind energy plants across Saudi Arabia.
With a total investment value of approximately $8.3 billion (more than SAR 31 billion), the seven new projects aim to generate a combined capacity of 15,000 MW (12,000 MW Solar PV and 3000 MW wind energy). They are an important component in Saudi Arabia’s National Renewable Energy Programme (NREP), which is led and supervised by the Ministry of Energy and is reflected in PIF’s commitment to develop 70% of Saudi Arabia’s Renewable Energy Target Capacity by 2030.
The seven new renewable energy plants include Bisha (3000 MW solar PV, located in Asir province), Humaij (3000 MW Solar PV, located in Madinah province), Khulis (2000 MW Solar PV, located in Makkah province), Afif1 (2000 MW Solar PV, located in Riyadh province), Afif2 (2000 MW Solar PV, located in Riyadh province), Starah (2000 MW Wind, located in Riyadh province), and Shaqra (1000 MW Wind, located in Riyadh province); and will be jointly owned by Badeel, ACWA Power and SAPCO.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $66.17 | Down |
| Crude Oil (Brent) | USD/bbl | $68.38 | Down |
| Bonny Light 14/07/25 CBN | USD/bbl | $74.83 | — |
| Dubai | USD/bbl | $70.06 | — |
| Natural Gas | USD/MMBtu | $3.52 | Up |
| Murban | USD/bbl | $69.75 | Down |
| OPEC basket 15/07/25 | USD/bbl | $70.34 | Down |
Xpeng Motors lands at the 2025 Goodwood Festival of Speedu As one of the most prestigious automotive cultural events in the world, the Goodwood Festival of Speed (FoS) has become a top stage connecting automotive history and future innovation. Recently, at the 2025 Goodwood Festival of Speed, Xpeng Motors, a global pioneer in smart electric vehicles, made a strong appearance with its latest product lineup and announced that the 2025 Xpeng G6 and G9 will be officially launched in Europe, marking a new chapter in Xpeng Motors’ European expansion strategy.
New cars launched in the European market, Xpeng G6 and G9 topped the sales in their market segments
The Goodwood Festival of Speed was founded in 1993 and is held every summer at Goodwood Manor in West Sussex, England.
Reference is made to the stock exchange announcements made by Dolphin Drilling AS on 30 May 2025 regarding the private placement of 29,764,440,000 new shares in the Company raising gross proceeds of NOK 297,644,400, equal to approx. USD 29 million (the “Private Placement”) and a potential subsequent share offering of up to 27,803,642,659 new shares in the Company, and on 17 June 2025 regarding resolutions made by the Company’s extraordinary general meeting (the “EGM”) in connection with the approval of the Private Placement.
As set out in the announcement on 30 May 2025, consummation of the Private Placement is subject to: (A) the EGM resolving to approve the Private Placement, as well as approval of ancillary resolutions to consummate the Private Placement, including the approval of a share capital reduction and a board authorisation to issue commission shares; (B) the Company having made written confirmations in respect of (i) (a) the entering into of a binding agreement with the existing senior lender regarding the changes to the existing facility agreement described in the company presentation published on 28 May 2025, in all material respects, subject to customary closing procedures, the Private Placement being consummated and the existing shareholder loan (the “Shareholder Loan”) being repaid, and (b) the entering into of a binding agreement with an international financial institution regarding a new USD 20 million facility (the “New Facility”) in all material respects as described in the company presentation published on 28 May 2025, and (ii) the ability to fulfil the relevant conditions precedent for draw-down under the New Facility (i.e., receive funds), subject to customary closing procedures, the Private Placement being consummated and the Shareholder Loan being repaid; (C) registration of the aforementioned share capital decrease and the capital increases set out in item (A) with the Norwegian Register of Business Enterprises, and (D) the shares allocated in the Private Placement being validly issued and registered in Euronext Securities Oslo (VPS).
Item (A) was fulfilled through completion of the EGM on 17 June 2025. Further, agreements have been reached with the existing senior lender regarding changes to the existing facility agreement and an international financial institution regarding the New Facility. Consequently, closing procedures will be initiated and the Private Placement is expected to be consummated within a short period of time. Further updates will be provided by the Company in due course.
Mercedes-Benz Special Trucks Mercedes-Benz Trucks demonstrates its technical expertise and innovative strength for demanding applications in the construction industry. These qualities were impressively showcased during a recent exclusive off-road event at the Ötigheim test site: Arocs tipper models powered through gravel, climbed steep inclines, forded deep water crossings, and mastered twisted sections – proving their capabilities under real-world extreme conditions, just like the off-road-capable Unimog U 5023 double cab. The Arocs series, developed for the toughest demands in material transport, civil engineering, and both on- and off-road use, places a strong focus on versatility. For medium-duty construction and municipal applications, the Mercedes-Benz Atego offers a compact and agile solution. With modern safety technology, high payload capacity, and practical equipment, it is particularly well-suited for urban environments and confined construction sites. The portfolio is rounded off by the Unimog, which is especially in demand when particularly challenging conditions and difficult terrain must be overcome.
Technical Strengths of the Mercedes-Benz Arocs Tipper Vehicles
The Mercedes-Benz Arocs stands for robust engineering, reliability, and versatility in daily construction site operations. Its stable and torsionally flexible frame concept allows for high payloads and serves as the foundation for a wide range of body configurations – from three-way tippers and rear tippers to roll-off tippers and custom-built construction vehicles. A broad range of axle configurations – from 4×2 to 6×4 and 8×8, with steel or air-suspended drive axles, now also available with a nine-ton front axle – ensures that the vehicles can be precisely tailored to their intended use.
Baker Hughes Rig Count: : International +27 to 913, U.S. -2 to 537 Canada +11 to 162
U.S. Rig Count is down 2 from last week to 537 with oil rigs down 1 to 424, gas rigs unchanged at 108 and miscellaneous rigs down 1 to 5.
Canada Rig Count is up 11 from last week to 162, with oil rigs up 10 to 112, gas rigs up 1 to 50 and miscellaneous rigs unchanged at 0.
International Rig Count is up 27 from last month to 913 with land rigs up 31 to 730, offshore rigs down 4 to 183.
The Worldwide Rig Count for June was 1,600, up 24 from the 1,576 counted in May 2025, and down 107, from the 1,707 counted in June 2024.
| Region | Period | Rig Count | Change |
| U.S.A | July 11, 2025 | 537 | -2 |
| Canada | July 11, 2025 | 162 | +11 |
| International | June 2025 | 913 | +27 |
Electrification of Inbound Logistics at Daimler Truck Is Gaining Momentum With an impressive backdrop, the symbolic starting signal for an ambitious endeavor was given on Monday, July 14, 2025: In the dispatch hall of the Wörth plant, 14 fully electric eActros 600 trucks are lined up side by side. Their mission: to gradually electrify the logistics chain for supplying the Wörth, Gaggenau, Mannheim, and Kassel plants, making it locally CO₂e-free.
The project ‘Electrify Inbound Logistics’ plays a key role in the decarbonization of the logistics chain: for the first time, international long-haul routes used to supply the plants will be operated with battery-electric trucks. A milestone for Daimler Truck on its journey toward greater sustainability – a true lighthouse project within the company’s sustainability strategy.
Tesla expands into China’s grid market With a total investment of around 4 billion yuan ($558.58 million), the project represents Tesla’s first grid-side energy storage station on the Chinese mainland. Using its Megapack energy-storage batteries, the electric vehicle manufacturer looks to tap into China’s promising energy storage market by connecting its facility with the country’s power grid.
Situated in the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone, the first phase of the project is projected to come into operation this year, which will provide about 300 megawatt-hours of energy storage capacity upon its completion, helping stabilize the city’s electricity supply during peak demand periods in summer and winter, said Dong Kun, general manager of Tesla’s energy business in China.
The project is being implemented by a subsidiary of China Kangfu International Leasing Co Ltd, in collaboration with Tesla.
KBR Awarded FEED Contract for KEPPT’s Fertilizer Facility in Iraq KBR (NYSE: KBR) announced today that it has been awarded a front-end engineering design (FEED) contract for the development of an ammonia and urea production plant by KAR Electrical Power Production Trading FZE (KEPPT) in Basra, Iraq.
Under the terms of the contract, KBR will provide FEED for the 2,300 metric tons per day (MTPD) ammonia production facility and a 3,850 MTPD urea production unit. The FEED will be executed utilizing KBR’s proprietary ammonia technology, designed to enable high efficiency, low emissions, and operational reliability to assist KEPPT with its goal to achieve the lowest overall capex with an optimized project schedule.
“We are honored to support this pivotal project, which monetizes gas feedstock to boost the agricultural industry in Iraq,” said Jay Ibrahim, President, KBR Sustainable Technology Solutions. “Underlined by KBR’s expertise in market-leading ammonia solutions and proven FEED capability, this initiative should generate employment and reduce the dependency of fertilizer imports, while repositioning Iraq as a global ammonia producer.”
KBR plays a key role in delivering reliable and affordable energy solutions to meet the world’s growing demands. KBR has been involved in the licensing, design, engineering and/or construction of more than 260 ammonia plants worldwide.
U.S. threatens to leave IEA The U.S. may depart the International Energy Agency without changes to forecasting that Republicans have criticized as unrealistically green, President Donald Trump’s energy chief said.
“We will do one of two things: we will reform the way the IEA operates or we will withdraw,” Energy Secretary Chris Wright said during an interview Tuesday. “My strong preference is to reform it.” IEA Director Fatih Birol
The Paris-based IEA, established in response to the 1970s oil crisis to enhance energy security, stirred controversy in recent years as long-term forecasts began to factor in more active government policies to shift away from fossil fuels. The agency has predicted that global oil demand will plateau this decade as electric-vehicle fleets expand and other measures are adopted to reduce emissions and combat climate change.
Namibia Oil and Gas Conference 2025 The 3rd Namibia Oil and Gas Conference (NOGC 2025) has announced the launch of the Future Generations Masterclass, a new half-day programme dedicated to inspiring, empowering and preparing Namibia’s future oil and gas professionals. Delivered in partnership with the Namibia Youth Energy Forum, this initiative forms a key part of the conference’s wider mission to create inclusive and sustainable pathways for growth in the country’s emerging energy sector.
The Future Generations Masterclass will offer students, graduates and young professionals a unique platform to explore career opportunities in Namibia’s nascent oil and gas industry, engage directly with seasoned energy leaders and develop the critical leadership and technical skills necessary for success in the sector.
As Namibia’s energy sector transforms, driven by significant offshore discoveries, technological advancement and the global energy transition, the development of skilled local talent has never been more vital. The Future Generations Masterclass will provide attendees with practical tools and insights to navigate this evolving landscape and build fulfilling careers.
Programme Highlights:
Session One: Fostering Leadership and Career Growth for Young Professionals in Africa’s Oil and Gas Sector – Pathways to Success
This session will address key strategies for leadership development, technical training and structured career progression to equip young Namibians for the challenges and opportunities of the oil and gas industry.
Touchstone Exploration Inc. provides an operational update on the Central Block asset located onshore in the Republic of Trinidad and Tobago. As previously announced, on May 16, 2025 the Company, through its wholly owned Trinidadian subsidiary,completed the acquisition of 100 percent of the share capital of Shell Trinidad Central Block Limited. The acquired entity, now renamed Touchstone Trinidad Central Block Ltd., holds a 65 percent operating interest in the onshore Central Block exploration and production licence. Heritage Petroleum Company Limited holds the remaining 35 percent participating interest. The Central Block asset includes four producing natural gas wells and a gas processing facility. Financial and operational results from the acquired entity have been consolidated into the Company’s financial statements from the May 16, 2025 acquisition date.
Production Update
Gross production volumes from the Central Block averaged 2,969 boe/d (1,930 boe/d net) during the first quarter of 2025, comprising approximately 16.74 MMcf/d of natural gas and 179 bbls/d of NGLs.Based on preliminary field estimates, second quarter 2025 gross production averaged 3,023 boe/d (1,965 boe/d net), comprised of approximately 17.05 MMcf/d of natural gas and 181 bbls/d of NGLs.
Sales and Pricing Update
Natural gas from the Central Block is sold under two separate contracts: one linked to LNG export pricing and the other to domestic market pricing, primarily supplying Trinidad’s petrochemical sector. LNG sales are subject to vessel availability, referred to as liftings.
From January through April 2025, eleven LNG liftings (including associated liquids) were completed,
totaling 2,207,696 MMBtu. An additional 11,065 MMBtu was sold into the domestic market. These volumes generated gross revenue of $13.6 million ($8.9 million net). After transportation and processing costs, gross revenue totaled $8.9 million ($5.8 million net). The Central Block also generated $1.0 million in gross revenues ($0.65 million net) from condensate sales at the facility, resulting in total gross revenue of $9.9 million ($6.4 million net) for the period. All sales volumes are subject to a 12.5 percent state royalty and applicable plant operating costs.
Eni announces 20-year sales and purchase agreement with Venture Global Eni announces the signing of a long-term liquefied natural gas (LNG) supply agreement with Venture Global.
Eni will purchase 2 million tonnes per annum (MTPA) for 20 years with offtake starting by the end of the decade from Phase 1 of CP2 LNG. The facility, with a peak production capacity of 28 MTPA, is currently under development in Cameron Parish, Louisiana, United States.
The agreement is Eni’s first long term LNG supply from the United States and represents a significant milestone in Eni’s strategy to expand and diversify its global LNG footprint, enhancing portfolio flexibility. Part of these volumes will contribute to the diversification of Europe’s gas supplies.
Venture Global’s proven success in project delivery will support Eni’s ambitions to grow its LNG portfolio to approximately 20 MTPA of contracted volumes by 2030, and to expand its trading business while meeting the evolving needs of customers across key markets worldwide.
1PointFive Announces Carbon Removal Credit Agreement with Palo Alto Networks 1PointFive, a carbon capture, utilization, and sequestration (CCUS) company, today announced that Palo Alto Networks purchased 10,000 tons of carbon dioxide removal (CDR) credits over five years enabled by Direct Air Capture (DAC). The agreement demonstrates the increasing adoption of durable carbon removal technologies as a solution to address emissions.
The CDR credits for Palo Alto Networks will be produced from STRATOS, 1PointFive’s first large-scale DAC facility in Texas that is coming online this year. The captured carbon dioxide (CO2) underlying the credits will be stored through saline sequestration.
“We look forward to collaborating with Palo Alto Networks and using Direct Air Capture to help advance their sustainability strategy,” said Michael Avery, President and General Manager of 1PointFive. “This agreement continues to build momentum for high-integrity carbon removal while furthering DAC technology to support energy development in the United States.”
“Collaborating with 1PointFive in this carbon removal credit agreement highlights our proactive approach toward exploring innovative solutions for a greener future,” said BJ Jenkins, President, Palo Alto Networks.
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole , victor@oilandgaspress
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