London, November 24, 2025, (Oilandgaspress) –––U.S. Rig Count is down 29 rigs from last year’s count of 583 with oil rigs down 60, gas rigs up 28 and miscellaneous up 3. Canada Rig Count is down 6 from last year’s count of 201 with oil rigs down 5, gas rigs unchanged and miscellaneous rigs down 1.
IHC, a global investment company focused on building dynamic value networks, announced the proposed leadership team for 2PointZero Group, the newly formed investment holding company created through the merger of 2PointZero, Multiply Group, and Ghitha Holding.
H.E. Mariam bint Mohammed Almheiri will be appointed Managing Director, with a mandate to define the Group’s strategic direction and reinforce its position as a leading global investment platform.
Samia Bouazza will be appointed Chief Executive Officer, recognizing her record of strong performance and disciplined growth. In this new role, she will be responsible for formulating and executing the Group’s strategy, driving expansion across key sectors and international markets.
The formation of the new entity marks one of Abu Dhabi’s largest ever listed mergers, uniting IHC’s flagship platforms across the Energy and Consumer sectors to create a next-generation operator-investor that powers everyday life and drives long-term growth. With a combined asset base of approximately AED 120 billion and operations spanning more than 85 countries, the company is positioned to accelerate global competitiveness, operational efficiency, and shareholder value creation.
Upon completion of the merger, Ghitha Holding will become a subsidiary of 2PointZero, maintaining its leadership role in the UAE’s food-security and agri-food sectors while integrating into the new group’s governance and growth framework. Read More
International Holding Company (IHC) has expressed an interest in acquiring the foreign assets of Russian oil company Lukoil, reported Reuters.
This news follows the US Treasury’s decision to allow companies to negotiate with Lukoil regarding its overseas holdings, which is valid until 13 December. Read More
Romania took steps to protect the interests of state company Romgaz, which holds 12.2% in the Trident Black Sea offshore perimeter operated by Russia’s Lukoil. He said that the authorities in Bucharest “collaborated” with the Office of Foreign Assets Control (OFAC) within the Treasury in Washington, but no further details are available.
“We collaborated with the American entity that ordered these sanctions. We took the necessary measures so that Romgaz would not be affected by these sanctions. We notified, we informed. Things from this point of view are secured,” Prime minister Ilie Bolojan, declared, according to Economica.net. Read More
The Trump administration is eliminating Energy Department offices focused on clean energy and renewables and, instead, creating units dedicated to hydrocarbons and fusion energy. The changes are part of an agency reorganization unveiled Thursday. The plan made no mention of staffing reductions as part of the realignment, and the agency didn’t immediately respond to a request for comment.
Among the units eliminated are the Office of Clean Energy Demonstrations, which under former President Joe Biden awarded billions of dollars for technologies such as carbon capture and hydrogen hubs. The Trump administration previously recommended shutting down the office and reducing its staff of roughly 250 people to 35, while cancelling billions of dollars in awards.
The Office of Energy Efficiency and Renewable Energy, which funded research for LED light bulbs, plug-in electric trucks, and solar and wind technologies, was also cut, according to an organizational chart. Read More
World Energy Outlook 2025: Choices, opportunities and trade-offs in an increasingly complex energy context
Around the world, countries are contending with pressing energy security threats and growing longer-term risks across an unprecedented range of fuels and technologies. In this context, the 2025 edition of our World Energy Outlook provides unique analysis of the choices that lie ahead.
The report is full of valuable takeaways about how the energy sector could evolve in the coming decades. Across scenarios, some of the key trends we see include:
• Centres of gravity are shifting. A group of emerging economies – led by India and Southeast Asia and joined by countries in the Middle East, Africa and Latin America – comes to increasingly shape energy market dynamics in the years ahead, taking the baton from China.
• Energy security risks are rising. Traditional energy risks affecting the security of oil and gas supply are now accompanied by vulnerabilities in other areas, most visibly in supply chains for critical minerals, which face high levels of market concentration. The vulnerability of energy infrastructure to cyberattacks, extreme weather and more has also come into view.
• The Age of Electricity is here. Electricity is at the heart of modern economies, and electricity demand is set to grow much faster than overall energy in the years ahead. Another pivotal issue for energy security will be the speed at which new grids, storage and other sources of power system flexibility are put in place.
• Solar is growing rapidly. Solar PV is the fastest growing electricity source in the world – and it remains so in all scenarios, with a large majority of energy demand growth over the next decade set to come in countries with high-quality solar resources.
• Pathways exist to meet energy access and climate goals. The energy sector will need to prepare for the security risks brought by higher temperatures, but there is still scope to avoid the worst climate outcomes. The WEO-2025 also includes a new pathway to achieve universal access to electricity by 2035 and clean cooking by 2040. Read More
For the first time in the forum’s history, the G20 under South Africa’s Presidency has elevated clean cooking as a standing item for discussion at the Summit. The World Liquid Gas Association (WLGA) and the Clean Cooking Alliance (CCA) call for G20 members to approve and implement the Clean Cooking Infrastructure Investment Plan.
More than two billion people worldwide lack access to clean cooking technologies and fuels, according to the G20 Energy Transitions Working Group, with over half of this population concentrated in sub-Saharan Africa. Universal access to clean cooking could be achieved within this decade through an annual global investment of US$8 billion, of which US$4 billion would be specifically required for Africa, as outlined in the Clean Cooking Infrastructure Investment Plan.
During the final Energy Transitions Working Group and Ministerial Meetings that took place this month, consensus was not agreed on other energy transition issues; however common ground was reached on elevating clean cooking onto the global energy agenda. Electricity and Energy Minister Kgosientsho Ramokgopa described the move as a ‘major victory’ for Africa. The G20 is due to take place in Johannesburg, South Africa on 22 – 23 November. The IEA’s World Energy Outlook released earlier this month reveals that progress on clean cooking access has decelerated in recent years. While 100 million people gained access to clean cooking in 2023, this represents a decline from 120 million in 2019. Accelerating this rate of change is crucial, as household air pollution from traditional cooking methods causes premature deaths and transitioning to clean cooking solutions could reduce these fatalities by nearly two-thirds globally by 2040. Read More
The Supervisory Board of the TRATON GROUP took two important personnel decisions at its meeting last Friday. The contracts of Dr. Michael Jackstein, CFO and CHRO of the TRATON GROUP, and Catharina Modahl Nilsson, responsible for Product Management, have been extended.
Hans Dieter Pötsch, Chairman of the Supervisory Board of TRATON SE, stated:
“To continue driving the path we have embarked on, we have decided to extend the contracts of Catharina Modahl Nilsson and Dr. Michael Jackstein. We are pleased to have two such experienced Executive Board members on the TRATON GROUP leadership team.” Read More
DNV, the independent energy expert and assurance provider, acted as market advisor to support Atlas Renewable Energy in securing USD 475 million in financing for the Copiapó hybrid solar and battery storage project in Chile. The financing was arranged with a consortium of leading financial institutions including BBVA, BCI, Crédit Agricole CIB (CACIB), Natixis CIB, SMBC, and Société Générale.
Located in Chile’s Atacama Region, Copiapó combines 357 MWp of solar capacity with a 320 MW / 1.28 GWh battery system capable of providing four hours of storage. The project will supply clean energy equivalent to 750 GWh per year to CAP Group subsidiaries – CMP and Aguas CAP (part of Chile’s leading steel and mining conglomerate) – under two long-term 15-year power purchase agreements (PPAs). By delivering reliable, 24/7 renewable power, Copiapó will help decarbonize Chile’s steel and mining sectors, among the nation’s largest energy consumers.
DNV helped de-risk the project’s complex revenue structure for lenders. The scope included market due diligence, review of the power purchase agreements, and battery revenue-stacking and dispatch-optimization analysis to demonstrate long-term bankability. This independent validation strengthened lender confidence and supported the achievement of highly competitive financing terms. Read More
Newry-based recycling firm Re-Gen has announced the completion of the £20 million first phase of a new waste-to-fuel facility at the Carnbane Industrial Estate. The company said the new municipal solid waste facility at Derryboy Road has created 50 jobs.
The new system developed at the site is capable of repurposing waste into two types of fuel, which is exported.
Solid recovered fuel (SRF) has been adopted by the cement manufacturing industry across Europe as a lower carbon alternative to fossil fuels, while refuse derived fuel (RDF) can be used to produce heat and electricity. Read More
One of the strongest arguments for electrified cars is the enhanced driving experience. Electric cars deliver instant torque and impressive acceleration, providing a responsive and dynamic ride. The smooth and quiet operation of an electric car also makes for a more comfortable journey. In addition, electric cars allow access to low-emission zones in cities where combustion cars may be restricted or subject to extra charges. Fleet managers can play a decisive role here: encourage employees to book test drives and provide clear instructions on where to turn to test drive the cars on the policy. Hands-on experience is often the most powerful motivator.
Overcome range anxiety
A common hesitation among drivers is the fear of running out of charge. However, battery technology has advanced rapidly, and most modern electric cars deliver ranges that easily cover daily drives and beyond. For longer business trips, the growing network of fast-charging stations usually makes it simple to recharge during a lunch break or quick coffee stop. Companies can further reduce uncertainty by offering charging stations at work, helping ensure employees can leave the office ready for their next journey.
Lower costs, greater benefits
Electrified cars can also make financial sense. Many countries offer tax advantages and lower benefit-in-kind values for electric cars, making them more attractive for company car drivers. Charging an electric car can generally also be cheaper than filling up with petrol or diesel.
Go for zero
Environmental consideration is a compelling argument. Driving with zero tailpipe emissions helps reduce air pollution. By going electric, company car drivers can make a more conscious choice, contributing to better air quality where they live, work and drive. All while enjoying the smooth, quiet, and guilt-free pleasure of tailpipe emission-free driving. Read More
Volvo on Monday announced a plan to invest 700 million Swedish kronor ($73 million) in a new crawler assembly factory for annual production of 3500 machines. The investment is part of Volvo Construction Equipment’s 2.5 billion kronor investment announced in June 2025. The 30,000-square meter facility will be utilized for a mixed line of both electric and internal combustion engine models, in the medium and large size classes between 14 tons and 50 tons. Read More
The UN climate summit COP30 in Brazil’s Belem concluded with a final text that avoided any roadmap for phasing out fossil fuels, drawing criticism that described the outcome as an “empty deal” and a “moral failure”.
The United States’ withdrawal from international climate talks has created a political and financial vacuum, with US President Donald Trump describing climate change as a “con job”.Countries that attended the UN’s flagship climate change conference whose economies rely heavily on fossil fuel production, like Saudi Arabia and the United Arab Emirates, were openly opposed to any target or roadmap to phase out fossil fuels.
One day before the end of COP30, the EU threatened not to endorse the final text, which had to be approved by consensus by nearly 200 nations. In the end, the EU did not see other option than backing the paper while recognising its lack of ambition. Read More
Wattlab wins IBJ Environmental Protection Award for Solar Flatrack Technology
Last week, the IBJ Awards recognised Wattlab’s contribution to deliver verified fuel savings, CO₂ reduction, and a strong financial return to shipping companies. Wattlab was awarded the IBJ Environmental Protection Award for its innovative Solar Flatrack, the world’s first modular solar power solution engineered specifically for seagoing cargo vessels. Furthermore, the scale-up’s maritime solar energy system has now been independently validated by TNO. The IBJ Awards is a longstanding event organized by International Bulk Journal, the medium that has reported about and commented on for the dry bulk industry for 40 years. The Solar Flatrack allows vessels to generate free solar electricity at sea, reducing auxiliary fuel consumption by 2–5% and lowering CO₂ and GHG emissions. The solution offers a strong return on investment, fast installation, high durability, and seamless integration into daily ship operations.
Independent Validation by TNO
Dutch research organisation TNO conducted an independent study confirming system performance, energy yield, and financial return. Results show that the Solar Flatrack offers a reliable, cost-effective, and scalable pathway to decarbonisation for bulk carriers and short sea coasters. Read More
Baker Hughes Rig Count: International -25 to 1059, :U.S. +5 to 554 Canada +7 to 195
U.S. Rig Count is up 5 from last week to 554 with oil rigs up 2 to 419, gas rigs up 2 to 127 and miscellaneous rigs up 1 to 8.
Canada Rig Count is up 7 from last week to 195, with oil rigs up 4 to 128, gas rigs up 3 to 67 and miscellaneous unchanged at 0.
International Rig Count is down 25 from last month to 1,059 with land rigs down 8 to 833, offshore rigs down 17 to 226
The Worldwide Rig Count for October was 1,800, down 12 from the 1,812 counted in September 2025, and down 164, from the 1,964 counted in October 2024.
| Region | Period | Rig Count | Change |
| U.S.A | November 22, 2025 | 554 | +5 |
| Canada | November 22, 2025 | 195 | +7 |
| International | October 2025 | 1059 | -25 |
| Baker Hughes |
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Victor Cole , victor@oilandgaspress
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