London, October 28, 2025, (Oilandgaspress) –––UK Government has reportedly unveiled a cash incentive for the next renewable electricity auction, which sees developers bid to secure a fixed price they can charge for each megawatt hour (MWh) of power they generate.
The budget aims to spur on investment in clean power capacity as part of wider ambitions to decarbonise the UK’s electricity grid, reduce household bills and boost economic growth. Ministers increased the maximum amount companies could charge per MWh of electricity this year as inflation and supply chain bottlenecks continue to drive up costs. Offshore wind developers will be able to submit a sealed bid for their fixed price between November 11 and 17. The Government will select the projects asking for the lowest fixed price, before announcing the results in January.
The budget unveiled on Monday is the initial offering, officials said. Read More
More than a quarter of a million UK families will receive confirmation this week of their £150 discount on energy bills this winter, as part of the British Government’s drive to help families tackle energy affordability and put money into people’s pockets.
UK Prime Minister took the decision last year to expand the Warm Home Discount to a further 2.7 million families, meaning six million households now receive the help. Covering households across England and Wales, letters will start arriving from today, with all those entitled to the discount set to receive one before January. For the vast majority of recipients, £150 will be automatically deducted off their energy bill and they don’t need to take any action. Read More
Port Houston, working in partnership with the U.S. Army Corps of Engineers (USACE), has completed its portion of the Houston Ship Channel Expansion – Project 11, a historic milestone in the future safety, efficiency, and competitiveness of the busiest waterway in the United States. Construction of channel improvements began in 2022, and now the project has reached its most important milestone – dredging completion of the widening of the Galveston Bay reach from Bolivar Roads to Morgans Point. With this work done, Port Houston-led project dredging of the Houston Ship Channel is complete.Widening of the channel through Galveston Bay, from 530 feet to 700 feet, represents a physical transformation that allows for improved safety, greater efficiency, and increased economic benefit of this critical economic artery of the region, state, and nation. As vessels continue to grow in length, beam, and tonnage across a variety of vessel types, the widened Galveston Bay reach will help keep the facilities relying on the channel competitive and dynamic, both today and into the future. Read More
TotalEnergies and Saudi developer Aljomaih Energy & Water (AEW) have been awarded the license to develop, build and operate a 400 megawatts (MW) solar power plant in As Sufun, KSA.by the Saudi Power Procurement Company (SPPC) following a tender process,
The electricity produced will be sold to SPPC through a 25-year Power Purchase Agreement (PPA). The solar plant is expected to connect to the grid in 2027, and will power more than 68,400 homes.
The As Sufun project is part of Round 6 of the National Renewable Energy Program (NREP) overseen by the Ministry of Energy, aiming to reduce reliance on liquid fuels in electricity generation, in line with Saudi Vision 2030, where Saudi Arabia aims to increase the installed capacity shares from renewable energy sources and energy storage systems to reach Up to 50% by 2030, subject to electricity demand growth. Read More
Air Liquide continued to improve its performance. At the end of September, the Group’s efficiencies were at a record high of +23%. We also continued the dynamic management of our business portfolio, while adjusting our prices in Industrial Merchant thanks to our ability to create value for our customers. Our cash flow is very solid, increasing by +7% excluding currency impact.
Paving the way for future growth, our investment momentum is particularly strong. Well diversified, our investment backlog is again at a record level of nearly 5 billion euros in this third quarter. Amounting to nearly 6.6 billion euros at September 30, 2025, our revenue was up +1.9% on a comparable basis (‑2.4% on a reported basis, reflecting a negative currency impact and lower energy prices, which were passed on to our customers). The Gas and Services businesses, which accounts for 97% of the Group’s revenue, increased by +1.9% on a comparable basis, to reach 6,386 million euros. In an uncertain industrial environment, Healthcare and Industrial Merchant were growth drivers, up sharply by +5% and +3%, respectively, on a comparable basis. Geographically, the Americas stood out in particular with a +5% growth. – François Jackow, Chief Executive Officer of the Air Liquide Group, Commenting on sales in the third quarter of 2025 . Read More
PJSC “LUKOIL” informs that owing to introduction of restrictive measures against the Company and its subsidiaries by some states the Company announces its intention to sell its international assets. The consideration of bids from potential purchasers has been started.
The sale of the assets is conducted under OFAC wind down license. If necessary the Company plans to apply for extension of the license to ensure uninterrupted operations of its international assets. . Read More
Oil Prices rose higher after the U.S. blacklisted Rosneft and Lukoil—but traders are already questioning whether President Trump’s sanctions will ever really stick. Prices jumped 8% last week, with most of the gains coming on Thursday, the day following the U.S. Treasury Department’s announcement that Russia’s top two producers and refiners would be designated effective November 21. U.S. sanctions flipped the traders’ focus overnight, from fears of a glut to anxiety over a supply squeeze from one of the world’s top crude and product exporters. Before October 22, most of the market participants were focused on the imminent glut and the bearish risk from growing supply in a period of seasonally weaker demand.
The sanctions announced on October 22 sent Indian refiners scrambling for alternative crude supply in the near term, while Chinese state-held oil giants have reportedly halted shipments of crude from Rosneft and Lukoil.
The U.S. sanctions also sent oil prices rallying to above $60 per barrel WTI and over $65 a barrel Brent on Thursday. . Read More .
Venezuela has called for the cancellation of energy agreements with neighboring island nation Trinidad and Tobago after the latter agreed to host a U.S. warship for joint exercises. Per the AP, Venezuela’s vice president called Trinidad and Tobago’s actions “hostile”, in the context of the United States’ attacks on boats that Washington says are used to carry drugs into the U.S. . Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $61.00 | Down |
| Crude Oil (Brent) | USD/bbl | $65.29 | Down |
| Bonny Light 23/10/25 CBN | USD/bbl | $66.57 | Up |
| Dubai | USD/bbl | $65.54 | Up |
| Natural Gas | USD/MMBtu | $3.33 | Up |
| Murban | USD/bbl | $67.20 | Down |
| OPEC basket 27/10/25OPEC | USD/bbl | $67.54 | Up |
| At press time October 28, 2025 . |
BW Energy delivered continued strong operational performance in the third quarter of 2025, with high production uptime, efficient execution of the annual Dussafu maintenance program and competitive cost levels. The Maromba development and the Golfinho Boost project progressed to plan with key financing milestones completed, and the Kharas-1A appraisal well on the Kudu field offshore Namibia was successfully spudded towards the end of the period. Backed by strong cash generation and a resilient financial structure, BW Energy is well positioned to deliver industry-leading organic growth and create long-term shareholder value. Key development projects on track
• Maromba and Golfinho Boost projects progressing to plan
• Bourdon moving towards final investment decision (FID)
• Kudu appraisal well underway
Robust financial results
• Q3 2025 EBITDA of USD 96.0 (130.0) million and net profit of USD 20.1 (48.0) million
• Operating cash flow of USD 89.5 (144.9) million
• Cash position of USD 259.3 (209.8) million at 30 September
• Liquidity strengthened with USD 250 million revolving credit facility
• 2025 capex guidance reduced by USD 175 million primarily due to Maromba rig-lease financing
• Completed USD 365 million Maromba FPSO financing Read More
Renault Duster grand return to India
Renault is announcing the official return of its blockbuster to India. An iconic model sold in over 200,000 units locally, Duster is making a strong comeback with the name that made it such a success. India was the world’s fastest-growing car market in 2024 (+7%) and is currently the third largest, with real potential for the expansion of the Renault brand.
Launched in India in 2012, Duster was the first SUV in this country, creating a segment (B+ SUV) that now accounts for almost one-quarter of retail sales in this country. Duster made a lasting impression on many Indian customers. More than just a car, it symbolises ambition, success and freedom. The success of Renault Duster is part of a wider picture, with nearly two million units already sold in around a hundred countries all over the world.
The launch of New Duster in India is in line with the goals of Renault’s International Game Plan 2027, for markets outside Europe. The aim of this ambitious plan is to design, develop and build vehicles as closely as possible to their markets of sale, in order to better address customer expectations.
New Renault Duster will be assembled at the Chennai plant (RNAIPL). After Latin America, South Korea, Turkey and Morocco, the brand is activating its fifth and final industrial hub outside Europe as part of its international offensive. Read More
Baker Hughes Rig Count: International -3 to 1076, :U.S. +2 to 550 Canada +1 to 199
U.S. Rig Count is up 2 from last week to 550 with oil rigs up 2 to 420, gas rigs unchanged at 121 and miscellaneous rigs unchanged at 9.
Canada Rig Count is up 1 from last week to 199, with oil rigs up 2 to 138, gas rigs unchanged at 61 and miscellaneous down 1 to 0.
International Rig Count is up 8 from last month to 1,084 with land rigs up 8 to 841, offshore rigs unchanged at 243
The Worldwide Rig Count for August was 1,793, up 7 from the 1,786 counted in July 2025, and down 153, from the 1,946 counted in July 2024.
| Region | Period | Rig Count | Change |
| U.S.A | October 24, 2025 | 550 | +2 |
| Canada | October 24, 2025 | 199 | +1 |
| International | September 2025 | 1084 | +8 |
| Baker Hughes |
The UK Government has instructed UK Export Finance to back Jaguar Land Rover with a guarantee for a commercial loan to help manage the impact of a recent cyber-attack. Read More
Alpine A390, Alpine’s new all-electric fastback sports car, features a one-of-a-kind three-motor architecture: the one at the front powers the front axle and the two at the rear power one wheel each. Besides enabling all-wheel drive, this configuration opened the door to managing the two rear motors independently – and thus opened up exciting new possibilities for Alpine’s engineering team, which designed a system that outperforms mechanical limited-slip differentials with extra-precise and quick torque control on each rear wheel. Alpine is unveiling Active Torque Vectoring, the result of five years of development and fine-tuning, and Constance Leraud-Reyser, an Alpine control systems engineer, talks about this game-changing feature available on A390.. Read More
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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