London, June 23, 2025 (Oilandgaspress) –-Global markets are bracing for impact, with oil prices expected to spike and potential for broader economic consequences, as Iran has retaliates with missile strikes on Israel..
Brent crude could hit $110 if oil flows through the Strait of Hormuz, the Iranian-controlled waterway is disrupted.
Investors brace for oil price spike. A U.S. attack on Iranian nuclear sites could lead to a knee-jerk reaction in global markets when they reopen, sending oil prices higher and triggering a rush to safety, investors said, as they assessed how the latest escalation of tensions would ripple through the global economy. In the immediate aftermath of the announcement, they expected the U.S. involvement was likely to cause a selloff in equities and a possible bid for the dollar and other safe-haven assets when trading begins, but also said much uncertainty about the course of the conflict remained.
Crude oil prices following the US strike on Iranian nuclear facilities. Brent crude surged beyond $80 per barrel in early Asian trading on Monday before settling back below $77. WTI climbed to $78.40 before falling back below $74.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $73.43 | Down |
| Crude Oil (Brent) | USD/bbl | $76.61 | Down |
| Bonny Light 20/06/25 CBN | USD/bbl | $81 | — |
| Dubai | USD/bbl | $74.86 | — |
| Natural Gas | USD/MMBtu | $3.87 | Up |
| Murban | USD/bbl | $76.97 | Down |
| OPEC basket 19/06/25 | USD/bbl | $74.44 | Up |
Plenitude welcomes Ares Management Alternative Credit funds Ares Management Alternative Credit funds (“Ares”), affiliates of leading global alternative investment manager Ares Management Corporation (NYSE: ARES), have signed an agreement with Eni to acquire a stake in Plenitude’s share capital.
Ares will acquire a 20% stake in Plenitude from Eni for a total value of approximately 2 billion euros, based on an equity valuation of 10 billion euros, which corresponds to an enterprise value of over 12 billion euros. The completion of the transaction is subject to customary regulation approvals.
The transaction further strengthens Plenitude’s market value, reaffirming the robustness of its business model, which integrates renewable energy production, energy sales and services for households and businesses, as well as charging solutions for electric mobility.
Ares’ entry follows that of Energy Infrastructure Partners, which holds a 10% stake in Plenitude.
Eni signs agreement for Ares Management Alternative Credit funds to enter Plenitude’s share capital Eni has signed an agreement with Ares Management Alternative Credit funds (“Ares”), affiliates of leading global alternative investment manager Ares Management Corporation (NYSE: ARES), for the sale of a 20% stake in the share capital of Plenitude, for a purchase price of approximately 2 billion euros.
The transaction is based on an equity value of Plenitude of 10 billion euros, corresponding to an enterprise value of more than 12 billion euros.
The agreement with Ares is part of Eni’s development of its satellite model and follows the acquisition of a 10% stake in Plenitude’s share capital by the investment fund Energy Infrastructure Partners.
Francesco Gattei, Chief Transition & Financial Officer of Eni commented: “The agreement announced today underscores the strong appeal of Plenitude’s business model. Plenitude is one of our satellite companies, established just a few years ago to maximize the value of our high-potential assets, continuously create value, and contribute towards our net zero Scope 3 emissions reduction targets. Today we welcome a new international leading partner who will support Plenitude in its significant future growth.”
The completion of the transaction is subject to the clearance by the competent authorities.
Woodside to bolster Japan’s winter energy security Woodside Energy Trading Singapore Pte Ltd (Woodside) and JERA Co., Inc. (JERA) have entered into a nonbinding heads of agreement (HOA) for the sale and purchase of LNG cargoes during Japan’s peak winter period. This agreement strengthens Woodside’s long-standing relationship with JERA and further supports Japan’s energy security. The HOA reflects Woodside and JERA’s shared commitment to market-based arrangements that strengthen energy resilience and strategic preparedness, under a company-to-company discussion framework for enhanced cooperation on energy security established by the Government of Japan and the Japan Bank of International Cooperation (JBIC).
Under the HOA, Woodside will supply LNG cargoes on a delivered ex-ship (DES) basis to Japan during the winter months (December to February) from 2027 for a period of at least five years, subject to contract. The HOA follows the previously announced sale of two non-operating participating interests in the Scarborough Joint Venture to JERA (15.1%, completed in October 2024) and LNG Japan (10%, since completed in March 2024) and loan agreement with JBIC to support the Scarborough Energy Project.
Mercedes-Benz Special Trucks is expanding its Unimog implement carrier portfolio and will be offering a vehicle with a particularly low loading height. In conjunction with the platform from Eggers Fahrzeugbau GmbH, the new Unimog U 219 Low has a loading sill height at the rear of less than 1.2 meters. This means that the loading height is around 20 centimeters lower than the previous loading height of the series Unimog U 219. This makes loading and unloading noticeably easier. On the vehicle side, this is possible by lowering the frame height in combination with the appropriate wheel/tire combination (295/60 R22.5 or 275/70 R22.5). The maximum permissible total mass of up to 10 tons remains unchanged.
The special platform from the partner, Eggers, is also crucial for the more ergonomic loading height. In the lowest version, the platform floor is only 14 centimeters above the top edge of the chassis frame. The platform is designed as a three-side tipper with an internal dimension of 2.22 meters long and 2.1 meters wide. The height of the side wall and the design of the front wall can be designed according to individual customer requirements.
The advantages of the Unimog Low concept pay off particularly in construction yards and for municipal work. Be it unloading equipment and material or loading gravel, earth or sand- every centimeter pays off at the end of the working day to support employees’ ergonomic work.
The Unimog Low is equipped with the new UNI-TOUCH operating system. UNI-TOUCH makes handling implements more efficient and comfortable and supports intuitive operation of the vehicle. Using a touchscreen, users can make the appropriate settings for the respective task, assign individual functions to buttons or easily save and retrieve recurring processes. In addition, the optional multifunctional joystick can now be inserted into the preparation on the driver’s seat or on the passenger seat, depending on the work situation. UNI-TOUCH is already installed in eight of the Unimog implement carriers on display at Demopark and can be experienced during live presentations.
New analysis shows the UK could meet more of its energy needs from home The UK could meet half of its oil and gas needs from the North Sea, almost double what is currently forecast while also transforming its energy system to be powered by more renewables, according to new independent analysis for Offshore Energies UK (OEUK).
The independent study, produced for OEUK by energy experts Westwood Global Energy Group, finds that up to 7.5 billion barrels of oil and gas could still be produced from UK waters – 3.2 billion more than current government estimates.
This additional production could add £165 billion in economic value, with a total of £385 billion if the UK meets half its oil and gas demand from domestic sources, supporting jobs, investment, and public services across the country.
The government’s independent advisers, the Climate Change Committee, say in a scenario where the UK meets all its climate targets on time, UK homes and businesses will still use between 13 and 15 billion barrels of oil and gas. But current forecasts suggest the North Sea will produce less than 4 billion – meeting under a third of that need.
The trade body today warned that without government support for the sector the UK risks a faster North Sea decline which could see it become dependent on oil and gas imports for 80% of its needs within this decade. The industry has been calling for continued licences and changes to the windfall tax, with the UK government expected to outline its policies this autumn following two major consultations.
Official statistics show that the UK’s total energy production hit a record low in 2024, importing over 40% of its total energy needs from overseas. The Prime Minister has stated energy security is national security. OEUK has consistently made the case for the build out of homegrown renewable energy alongside the responsible production of domestic oil and gas.
The report comes ahead of OEUK’s annual conference in Aberdeen on Tuesday 23 June where over 300 delegates from the sector will discuss the future of the North Sea.
Europe faces the challenge of achieving its climate goals while remaining competitive. According to Daimler Truck, hydrogen plays a key role in solving this conundrum. The molecule enables the storage and transport of renewable energy on a large scale and is crucial for emission-free road freight transport.
On the occasion of the German “Hydrogen Week”, Daimler Truck publishes an opinion piece by its Head of Truck Technology, Andreas Gorbach. In it, he argues why hydrogen is indispensable for the decarbonization of road freight transport.
Dr. Andreas Gorbach, Member of the Board of Management of Daimler Truck AG and Head of Truck Technology: “Those who want to lead the transport of the future do not rely on either-or, but on batteries AND hydrogen. By combining both technologies and thus developing charging and hydrogen refueling infrastructure in parallel, the decarbonization of transport can be achieved more quickly and at lower cost. Europe still has the historic opportunity to remain a technology leader in hydrogen and fuel cells and thus massively strengthen the competitiveness of the region. Whether this happens is also a question of the political will to act.”
In his article, Andreas Gorbach addresses the complementary nature of the two technologies, infrastructure, energy supply, as well as the fact that it is not just about technical efficiency, but also about the overall impact for trucks and buses, Germany and Europe. Accordingly, the development of hydrogen infrastructure is necessary and, in combination with the electrical charging infrastructure, even more cost-efficient than the massive expansion of a single infrastructure.
Daimler Truck is investing heavily in the electrification of its vehicle portfolio and sees hydrogen as an important complement to battery-electric solutions. The company already has 11 battery-electric vehicles in series production in its global product portfolio. Trucks powered by hydrogen are expected to follow shortly.
Tata Motors launches Ace Pro: India’s Most Affordable 4-Wheel Mini-Truck With an unbeatable starting price of just ₹3.99 lakh, the Tata Ace Pro is India’s most affordable four-wheel mini truck, delivering exceptional efficiency, unmatched versatility, and superior value.
Designed to empower a new wave of entrepreneurs, the Tata Ace Pro is available in Petrol, Bi-Fuel (CNG + Petrol), and Electric variants – providing customers with the flexibility to choose the ideal solution for their business needs.
Customers can book their preferred Ace Pro variant at any of Tata Motors’ 1250 commercial vehicles sales touchpoints across the country or on Fleet Verse, Tata Motor’s online sales platform. To make ownership of the Tata Ace Pro convenient, Tata Motors has collaborated with leading banks and NBFCs to offer hassle-free financing solutions, including quick loan approvals, flexible EMI options, and enhanced funding support, tailoring to diverse customer needs. The Tata Ace Pro sets a new benchmark with a best-in-class 750 kg payload and a versatile 6.5ft (1.98 m) deck. Available with factory-fitted load body options – half-deck or flatbed – tailored to maximize earnings across diverse applications. It is compatible for container, municipal applications, and reefer body fitment, amongst others. Its high-strength chassis and rugged aggregates ensure reliable performance under heavy loads.
Efficient, Versatile Powertrains
Built on a modular platform and designed for profitability, the Ace Pro is available in Petrol, Bi-Fuel, and Electric variants:
Petrol: A 694cc engine delivers 30bhp and 55Nm, combining power with fuel efficiency.
Electric: Tata Motors’ advanced EV architecture offers 38bhp, 104Nm torque, and a 155km range on a single charge, with IP67-rated battery and motor for all-weather reliability.
Bi-Fuel: Combines the cost-efficiency of CNG with the flexibility of a 5-litre petrol backup tank for uninterrupted operations. In CNG mode, it develops 26bhp of power and 51Nm of torque.
Hellobike, Ant Group, CATL join forces on robotaxi venture Hellobike established a new robotaxi firm on Monday, teaming up with fintech giant Ant Group and electric vehicle battery provider Contemporary Amperex Technology Co Ltd to accelerate the adoption of Level 4 autonomous driving technology.
The three companies have invested more than 3 billion yuan ($417.4 million) in the new firm as an initial investment, Hellobike said in a statement.
With a registered fund of 1.29 billion yuan, the new company located in Shanghai will focus on the research and development of Level 4 autonomous driving technology, safe application and commercialization.
The three parties have signed strategic cooperation agreements in April to develop L4 autonomous driving technology based on their own technological and resource advantages, enhance the safety and reliability of the self-driving technology, and promote its commercial application.
BMW pinning high hopes on its forthcoming Neue Klasse models The first China-made Neue Klasse model, the iX3, is scheduled to hit the Chinese market in 2026. But Jochen Goller, BMW’s board member responsible for customer, brand, and sales, insists that the Neue Klasse is “much more than just new cars”.
Unlike the incremental updates BMW has traditionally favored, the Neue Klasse represents a comprehensive reset, involving synchronized innovation across multiple core dimensions.
Among other things, it combines a new design philosophy, cutting-edge human-machine interfaces, sixth-generation electric drive technology, and the “superbrains” that act as central control units.
More importantly, it represents a complete decoupling of vehicle architecture and core innovations. This modular approach allows for greater flexibility in development and application.
For the Chinese market, BMW is integrating features co-developed with tech giants including Alibaba, Huawei, and ByteDance in an effort to tailor the Neue Klasse to the preferences of Chinese consumers.
Baker Hughes Rig Count: U.S. U.S.U.S. -1 to 554 Canada +1 to 139
U.S. Rig Count is down 1 from last week to 554 with oil rigs down 1 to 438, gas rigs down 2 to 111 and miscellaneous rigs up 2 to 5.
Canada Rig Count is up 1 from last week to 139, with oil rigs up 2 to 93, gas rigs down 1 to 46 and miscellaneous rigs unchanged at 0.
| Region | Period | Rig Count | Change |
| U.S.A | 20 June 2025 | 554 | -1 |
| Canada | 20 June 2025 | 139 | +1 |
| International | May 2025 | 886 | -5 |
| Baker Hughes |
New Stellantis Leadership Team Antonio Filosa today takes up the role as Chief Executive Officer of Stellantis N.V. and announces his new Stellantis Leadership Team, effective immediately, drawing on the deep bench of industry expertise from Stellantis’ teams around the world. The Stellantis Leadership Team (SLT) announced today is as follows:
Antonio Filosa, CEO, retains his role as head of North America and American Brands.
Doug Ostermann, CFO, takes responsibility for mergers and acquisitions and joint ventures.
Jean-Philippe Imparato continues in his role as head of Enlarged Europe & European Brands, which will now also include Maserati.
Emanuele Cappellano joins the SLT in his role of head of South America and takes responsibility for Stellantis Pro One, the Company’s commercial vehicles business unit.
Philippe de Rovira is appointed to lead Rest of World and retains responsibility for Stellantis Financial Services.
Davide Mele joins the SLT to lead Product Planning.
Ned Curic continues his leadership of Product Development & Technology.
Sébastien Jacquet, who was appointed head of Quality earlier this month, joins the SLT.
Monica Genovese is appointed head of Purchasing.
Scott Thiele takes on a newly created role as head of Supply Chain and joins the SLT, bringing together activities previously located in Planning and Manufacturing.
Arnaud Deboeuf continues to lead Manufacturing.
Xavier Chéreau continues to lead Human Resources and Sustainability.
Clara Ingen-Housz joins the SLT in her role as head of Corporate Affairs & Communications.
In addition to the Stellantis Leadership Team, the following four executives will also report directly to the CEO:
Ralph Gilles as head of Design.
Olivier Francois as head of Marketing.
Alison Jones now leads Parts & Services and Circular Economy.
Giorgio Fossati as General Counsel.
Richard Palmer will continue as a strategic advisor to the Company.
Sonangol has signed two agreements with the Massachusetts Institute of Technology (MIT) The agreements – dubbed the MIT Industrial Liaison Program (MIT-ILP) and MIT Africa – seek to strengthen U.S.-Africa ties by facilitating greater collaboration and skills development opportunities.
The agreements were signed by Sonangol CEO Sebastião Gaspar Martins and MIT Executive Vice President Glan Shor during a meeting presided over by Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum and Gas. A core focus of the meeting and the subsequent agreements was to explore opportunities to support Angolan resource development by leveraging global research, innovation and technology. With goals to increase oil production, diversify the industry through innovative gas projects and advance the development of alternative energy sources such as green hydrogen, Angola has committed to working with global partners to transform ideas into solutions. The agreements serve as catalyst for these objectives by laying the foundation for bilateral research and development.
Under MIT-ILP, Sonangol and MIT will work together to develop strategic industries such as energy, mining, engineering, construction and infrastructure. According to Minister Azevedo, this program will enable Sonangol to directly interact with MIT research centers in key areas, thereby accelerating innovation in the oil sector while facilitating a just energy transition. Minister Azevedo shared that visiting MIT showed the Angolan delegation how applied research is closely linked with humanity’s real challenges – notably, clean energy, artificial intelligence, resilient infrastructure and digital transformation. MIT-ILP will support the development of Angolan expertise and innovation.
Apollo Commits to £4.5 Billion Financing for Électricité de France Apollo-managed affiliates, funds, and strategic accounts have signed an agreement to invest up to £4.5 billion in fixed-rate callable notes issued by Électricité de France (“EDF”) pursuant to its €50 billion Euro Medium Term Note (“EMTN”) program. Proceeds from the financing will be used primarily to finance EDF projects in the United Kingdom, most notably the Hinkley Point C nuclear power station. This transaction represents one of the largest sterling-denominated note issuances on record.
Apollo Partner Jamshid Ehsani said, “Apollo is pleased to provide this bespoke, large-scale financing to EDF in support of its vital role in advancing European energy sovereignty and power infrastructure, including in the UK.”
Ehsani continued, “This landmark transaction highlights our deepening partnership with the French government and EDF and reaffirms our commitment to being a premier capital provider to leading European companies. This is the largest-ever capital funding transaction executed by EDF and the largest private credit transaction in the sterling market.”
This investment also builds on Apollo’s longstanding history of investing in French companies for nearly three decades. Notably, Apollo has provided €2.5 billion of High-Grade Capital Solutions across three transactions to Air France-KLM in recent years.
Eni launches first export of vegetable oil from Côte d’Ivoire Eni successfully announces the first export of vegetable oil from Côte d’Ivoire, produced from rubber tree residues, in line with the company’s decarbonization strategy and the sustainable development of local agricultural supply chains.
The rubber tree is widely cultivated in Côte d’Ivoire, and the industrial valorization of its by-products represents a concrete example of the circular economy, with positive impacts on farming communities in terms of income generation and economic diversification.
Starting in 2023, Eni became the first in the world to launch the industrial-scale transformation of rubber tree seeds into vegetable oil, with production certified according to the ISCC-EU standard. The vegetable oil is then sent to Enilive biorefineries for the production of advanced biofuels, which contribute to the decarbonization of transport.
The launch of vegetable oil exports from Côte d’Ivoire confirms Eni’s commitment to implementing new business models with strong attention to environmental, social, and economic sustainability.
Eni has been present in Côte d’Ivoire since 2015, where it operates in hydrocarbon exploration and production and carries out innovative initiatives to integrate the country into the sustainable mobility value chain. Additionally, the company is developing projects in training, education, health, and economic diversification, investing in sustainable growth aligned with the goals of the National Development plans.
3t Introduces Landmark Training to Empower Women in Saudi Arabia’s Energy Sector 3t, a global leader in training and blended learning for high-hazard industries, has unveiled a pioneering initiative to empower women in Saudi Arabia’s energy sector. Delivered at its state-of-the-art GTSC training centre in Dammam, the enhanced facilities and new programmes mark a significant milestone in supporting female workforce participation and advancing the Kingdom’s Vision 2030.
Officially approved by the Technical and Vocational Training Corporation (TVTC), the initiative provides women with access to world-class, industry-accredited training across the energy value chain.
As one of the first global training providers to offer specialist energy sector programmes for women in Saudi Arabia, 3t is proud to support the Kingdom’s drive to upskill its local workforce and foster inclusive growth across the region. Through this initiative, female professionals will gain access to the full suite of 3t’s industry-accredited training courses, equipping them with the technical skills and certifications needed to thrive in high-demand, safety-critical roles.
Enhancements at the recently re-branded state-of-the-art training centre in Dammam include a dedicated female changing room and resting room, and modifications to the building that support the culture of Saudi Arabia. Female divers have also joined GTSC’s team of world-class trainers.
The courses, delivered at 3t’s GTSC training facility in Dammam, combine industry-leading expertise with advanced simulation and digital technologies, ensuring the highest standards of safety, compliance, and competence.
The launch of these programmes marks a key milestone in 3t’s growth in the Middle East, following its 2024 acquisition of GTSC. This expansion aligns with 3t’s goal to empower local talent and support Saudi Arabia’s Vision 2030 energy objectives.
Golar progresses FLNG growth Golar LNG Limited announced that FLNG Gimi has reached the Commercial Operations Date (“COD”) for its 20-year Lease and Operate Agreement for the Greater Tortue Ahmeyim (“GTA”) project offshore Mauritania and Senegal. The COD triggers the start of the 20-year Lease and Operate Agreement that unlocks the equivalent of around $3 billion of Adjusted EBITDA backlog (Golar’s share).
The COD milestone marks a major achievement for one of Africa’s deepest offshore developments which introduce Mauritania and Senegal as LNG exporters. We look forward to continuing working together with the GTA operator bp and its partners Kosmos, PETROSEN and SMH as well as Mauritanian and Senegalese authorities to deliver safe and reliable operations and to create value to all stakeholders.
Following the achieved COD of FLNG Gimi and announcement of the two FLNG charters in Argentina on May 2, 2025, Golar is accelerating work on its next FLNG unit(s). We continue to advance commercial discussions, with charterer demand guiding design choice of the fourth FLNG unit. In addition to the 3.5mtpa MKII option at CIMC Raffles shipyard, Golar has signed a final engineering study to confirm EPC price and delivery for a 5mtpa MKIII FLNG and is updating price and schedule for an up to 2.7mtpa MKI FLNG.
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole , victor@oilandgaspress
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