London, July 21, 2025 (Oilandgaspress) –-BP p.l.c. announced that it has appointed Albert Manifold to succeed Helge Lund as chair of the company. He will join the company’s board on 1 September as non-executive director and chair-elect, and will take over as chair on 1 October. At that point, Helge Lund will step down as chair and as a director of the bp board.
Albert was the Chief Executive Officer of CRH plc (“CRH”) from January 2014 until December 2024. Under his leadership CRH strategically reshaped its portfolio and delivered superior growth and performance. He has a strong track record of strategic leadership and operational delivery with a focus on cost efficiency, disciplined capital allocation and cash flow generation.
He is also a non-executive director at LyondellBasell, a global chemicals producer, listed on the New York Stock Exchange, and a non-executive director at Mercury Engineering, a leading privately-owned engineering consultancy. Albert is a Certified Public Accountant, a Chartered Accountant, and holds a Master of Business Administration and a Master in Business Studies, both from Dublin City University. He remains a special adviser to the board of CRH and is also an adviser at Clayton Dubilier & Rice.. Read More
bp announced that it has agreed to sell its US onshore wind business, BP Wind Energy North America Inc. (bp Wind Energy), to LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector. After close, bp Wind Energy will be owned and operated as part of LS Power portfolio company Clearlight Energy, increasing its operating fleet to ~4.3GW.
bp Wind Energy has been marketed as an integrated business, with its experienced workforce expected to transfer to the new owner on completion of the deal. The business has interests in 10 operating onshore wind energy assets across seven US states, operating nine of them. The assets have a combined gross generating capacity of 1.7GW (1.3GW net to bp). All wind assets are grid-connected and are already providing power to over 15 off-takers. The deal is part of bp’s focusing of its low carbon energy portfolio, prioritizing investment choices whilst delivering value for shareholders. Read More
Vidsyn Discovery Proves Up Commercial Oil and Gas DNO ASA, today confirmed a gas and condensate discovery on the Vidsyn prospect close to its producing Fenja oil and gas field, both within the Norwegian Sea license PL586. The Company has a 25 percent stake in the license, up from 7.5 percent prior to the recent acquisition of Sval Energi Group AS last month.
Preliminary estimates put gross recoverable resources in the range of 25 to 40 million barrels of oil equivalent (MMboe) with a mean of 31 MMboe, above the pre-drill estimate range. The Vidsyn discovery was made in Middle Jurassic high-quality reservoir sandstones of the Ile formation. The partnership, including Vår Energi ASA (75 percent and operator), considers the discovery commercial and sees a potential to unlock a larger volume in the licence.
“Vidsyn is another exciting addition to our string of Norway discoveries,” said Executive Chairman Bijan Mossavar-Rahmani. “Together with Vår Energi, we will work hard to put it into production faster than is the norm in Norway.”
Vidsyn is located eight kilometers west of the Fenja field, which is tied back to the Equinor-operated Njord field facilities 35 kilometers to the northeast. Njord oil is exported by shuttle tankers while gas is piped to the market via the Åsgard Transport System.
Since re-entering Norway in 2017, DNO has participated in over a dozen discoveries on the Norwegian Continental Shelf, including three on permits operated by the Company, namely Kjøttkake (2025), Othello (2024) and Norma (2023).
DNO produces around 80,000 barrels of oil equivalent per day offshore North Sea from more than 30 fields, participates in six ongoing field development projects, is maturing multiple discoveries for project sanction and has interests in a total of 138 permits in the North Sea where it will drill three more exploration wells later this year: Page in PL1086 (50 percent interest and operator), Tyrihans Øst in PL1121 (30 percent) and Camilla Nord in the Vega unit (5.5 percent). Combined North Sea 2P reserves and 2C resources of 435 million barrel of oil equivalent translates into15 years of production at the current run rate.
Production Temporarily Suspended at DNO Kurdistan Fields Following Explosions DNO ASA, reports that operations at its Tawke license in the Kurdistan region of Iraq have been temporarily suspended following three explosions early this morning, one involving a small storage tank at Tawke and the other involving surface processing equipment at Peshkabir. There have been no injuries. The damage assessment is underway and the Company expects to restart production once the assessment is completed.
Hyundai Motor and Robotics LAB Triumph at Red Dot Award Hyundai Motor Company and Hyundai Motor Group (the Group) Robotics LAB have clinched several victories across multiple categories at the prestigious Red Dot Award: Design Concept 2025 competition.
City Pod and Urban Pod take home ‘Best of the Best’
Hyundai Motor’s City Pod and Urban Pod concepts were honored with the ‘Best of the Best’ award in the Autonomous Category.
City Pod is an autonomous large-scale logistics mobility solution that overcomes the limitations of existing systems through advanced software technology. It features an automatic logistics classification system that operates seamlessly and dynamically across all stages. Powered by hydrogen, it is designed for diverse applications, including logistics, public transportation, the transport of industrial raw materials and waste, and hydrogen energy distribution.
Urban Pod (or U-POD) is a multipurpose electric vehicle (EV) built on an unmanned vehicle platform. It can be employed across various environments, such as digital twin systems and last-mile mobility.
These innovative transport solutions could facilitate the development of futuristic, sustainable and technologically advanced smart cities. They reflect the marketability, feasibility and sustainability for future commercial trucks and trailers that are 100 percent pollution-free, incorporating autonomous technology for use in logistics.
Nano Mobility, E3W and E4W Concepts named ‘Winners’
Hyundai Motor’s Nano Mobility concept received the ‘Winner’ award in the Bicycles and Personal Mobility Devices Category. Designed for Purpose Built Mobility, it features a simple in-wheel motor structure and integrates autonomous driving, ride-hailing platforms and FMS. It enhances mobility for all, while enabling new daily movement solutions like micro logistics.
The E3W and E4W concepts earned the ‘Winner’ award in the Commercial Vehicles Category. The versatile electric concepts boldly reimagine India’s ubiquitous motor rickshaw, serving not only as a people mover but also as an efficient logistics option or a rapid-response emergency vehicle.
TotalEnergies ranked leader in high-power charging on motorways in France TotalEnergies is delighted to be ranked as the leader in high-power charging on the French motorway network, both in terms of the number of charging points and installed capacity, according to the latest study published by Gireve , a European interoperability platform. TotalEnergies currently represents 23% of the charging points deployed and operated on motorways in France.
100% of TotalEnergies motorway service stations are equipped with high-power terminals
The motorway network is essential for supporting electric mobility over long distances. To date, TotalEnergies operates more than 1,800 high-power charging points installed at 265 service stations on motorways and expressways , all powered by electricity guaranteed to be 100% renewable.
This technology allows drivers to recover up to 100 kilometers of range in just 6 minutes and recharge 80% of the battery in approximately 20 minutes , depending on the vehicle model. It can deliver up to 300 kW of charging power to compatible vehicles.
A further enhanced customer experience at TotalEnergies
To ensure an optimal experience for electric vehicle drivers, TotalEnergies equips its high-power charging sites with a pleasant waiting area, offering catering, free Wi-Fi, restrooms and ensuring access to all major payment options.
Teams are present at all stations to welcome and provide information to customers. Among them, 300 “terminal operators” will be present every weekend in July and August at motorway stations to assist users in using the terminals, answer their questions, and facilitate traffic flow at the charging areas.
Chevron Completes Acquisition of Hess Corporation Chevron Corporation (NYSE: CVX) announced today that it has completed its acquisition of Hess Corporation (NYSE: HES) following the satisfaction of all necessary closing conditions, including a favorable arbitration outcome regarding Hess’ offshore Guyana asset. The combined company has one of the most advantaged and differentiated portfolios in the industry, with leading positions in critical energy markets around the world and a high cash margin production profile. In addition, on July 17, 2025, the Federal Trade Commission (FTC) lifted its earlier restriction, clearing the way for John Hess to join Chevron’s Board of Directors, subject to Board approval. The acquisition adds world class assets, including Guyana and U.S. Bakken, to Chevron’s diversified global portfolio where it is a leader in the Permian Basin, Gulf of America, DJ Basin, Kazakhstan, Eastern Mediterranean and Australia. Chevron now owns a 30% position in the Guyana Stabroek Block, which has more than 11 billion barrels of oil equivalent discovered recoverable resource; 463 thousand net acres of high-quality inventory in the Bakken; complementary assets in the Gulf of America with 31 thousand barrels of oil equivalent per day; and natural gas assets in Southeast Asia with 57 thousand barrels of oil equivalent per day.
Under the terms of the merger agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. As a result, Chevron intends to issue approximately 301 million shares of common stock out of treasury to Hess stockholders in connection with the transaction. The 15.38 million shares of Hess common stock (which were acquired in open market transactions) beneficially owned by Chevron immediately prior to the closing were cancelled for no consideration.
Chevron expects to achieve the following transaction benefits:
Accretive to cash flow per share and extends growth into 2030s
Expected to be accretive to cash flow per share in 2025 after achieving synergies and start-up of the fourth floating production storage and offloading vessel in Guyana.
Increases Chevron’s estimated five-year production and free cash flow growth rates and expected to extend such growth into the next decade.
Capital and cost efficient
The combined company’s capital expenditures budget is expected to be between $19 and $22 billion.
After closing, Chevron will target to sustain a double-digit Return on Capital Employed (ROCE) at mid-cycle prices.
The transaction is expected to achieve run-rate cost synergies of $1 billion by the end of 2025.
Chevron will provide updated long-term financial and operational information and guidance to reflect the acquisition of Hess at its Investor Day in New York City on November 12.
IEA Oil Market Report (OMR) North Sea Dated crude increased by $7/bbl m-o-m to an average $71.35/bbl in June after trading in a wide $65-$80/bbl range. Israel’s mid-month air strikes on Iranian military and nuclear targets sent prices soaring, with Dated briefly surpassing $80/bbl but easing after a ceasefire was agreed. The decision by OPEC+ to further accelerate the unwinding of production cuts failed to move markets in a meaningful way given tighter fundamentals.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $67.31 | Down |
| Crude Oil (Brent) | USD/bbl | $69.13 | Down |
| Bonny Light 18/07/25 CBN | USD/bbl | $74.38 | Up |
| Dubai | USD/bbl | $70.24 | Up |
| Natural Gas | USD/MMBtu | $3.38 | Down |
| Murban | USD/bbl | $70.93 | Up |
| OPEC basket 18/07/25 | USD/bbl | $70.97 | Up |
Chinese EVs at Myanmar’s intl auto expo The three-day Myanmar International Auto Expo 2025, held from Friday to Sunday, brought together over 30 brands, most of them Chinese.
Chinese automakers draw attention at the event with EVs from BYD, Leapmotor, Voyah, Neta, JMEV and others. The expo highlighted rising consumer interest, despite EVs still being a small part of the market, exhibitors said.
Among the most visible brands at the expo was BYD, a Chinese EV giant, imported by industry veteran U Min Min Maung, chairman of EV Power Company. With over 30 years in the automotive business, he said the BYD brand was a leading brand in both the global and local EV market.
Baker Hughes Rig Count: : International +27 to 913, U.S. U.S. +7 to 544 Canada +10 to 172
U.S. Rig Count is up 7 from last week to 544 with oil rigs down 2 to 422, gas rigs up 9 to 117 and miscellaneous rigs unchanged at 5.
Canada Rig Count is up 10 from last week to 172, with oil rigs up 8 to 120, gas rigs up 2 to 52 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 18, 2025 | 544 | +7 |
| Canada | July 18, 2025 | 172 | +10 |
| International | June 2025 | 913 | +27 |
World’s Largest Hydropower Dam China has broken ground on what promises to be the world’s largest hydropower dam, a giant project on the eastern edge of the Tibetan Plateau that underscores Beijing’s dual ambitions: securing energy independence and solidifying geopolitical leverage over one of Asia’s most important rivers.
Premier Li Qiang’s formal launch of the $170 billion venture, described as a “project of the century”, is a symbolic reminder of China’s willingness to bet big on infrastructure as part of its climate and industrial strategy. But this vast undertaking is also raising significant alarms — from environmental groups to India and Bangladesh, two nations critically dependent on the Brahmaputra River, which originates as the Yarlung Zangbo in Tibet.
The Scale of China’s New Megadam
The dam will consist of five cascade hydropower stations straddling a 50-kilometer stretch of the Yarlung Zangbo River, where the river plunges nearly 2,000 meters — a geographic feature that gives this location immense hydropower potential.
Upon completion, the complex is expected to generate an astonishing 300 billion kilowatt-hours of electricity annually, more than doubling China’s installed hydropower capacity in Tibet and contributing significantly to Beijing’s carbon neutrality targets. The project’s timeline stretches into the 2030s, rivaling the Three Gorges Dam in ambition and scope.
KBR Renews EPCM Contract with Basra Oil Company for the Majnoon Oil Field in Iraq KBR announced that it has secured the renewal of its engineering, procurement, and construction management (EPCM) contract with Basra Oil Company (BOC) for the Majnoon Oil Field for an additional two years.
Under the contract, KBR will continue to provide comprehensive EPCM services to help BOC sustain forecasted production capacity, enhance operational efficiency, maximize local content, and drive continued safety improvements.
“This contract extension is a testament to the strong working relationship between KBR and BOC, and further reinforces KBR’s ongoing commitment to Iraq’s national energy strategy and the sustainable development of the Majnoon field, one of the most strategic assets in the country,” said Jay Ibrahim, President, KBR Sustainable Technology Solutions. “KBR is committed to support local development and contribute to Iraq’s long-term domestic capacity enhancement.”
“KBR will continue to be our strategic partner in EPCM projects in Majnoon, successfully supporting our long-term development goals and maximizing field potential through safe, efficient, and sustainable project execution,” said Mr. Kadhim Kareem, CEO of the Majnoon Field at Basra Oil Company.
KBR’s team in Iraq comprises a high number of local professionals to meet the targeted percentages at the Majnoon site and other regional hubs, ensuring the seamless execution of ongoing and upcoming projects as part of the Growth II Program.e terminals, answer their questions, and facilitate traffic flow at the charging areas.
Subsea7 awarded contract offshore Norway Subsea7 announced the award of a large1 contract by Equinor relating to the Fram Sør development project, offshore Norway.
The project work scope covers engineering, procurement, construction and installation (EPCI) of subsea structures and flowlines including 53 kilometres of production, gas lift and water injection lines. The scope also includes installation of the umbilical system. It follows the award on 9 January 20252 of a contract for front-end engineering and design that finalised the technical definition of the development.
Engineering and project management will begin immediately in our offices in Norway and UK. Offshore installation activities are expected in 2026, 2027 and 2028.
The Fram Sør area is located 10-30 kilometres north of the Equinor-operated Troll C platform, approximately 70 kilometres north-west of Bergen. The Fram Sør project will be connected to the existing Fram and Troll C infrastructure.
Erik Femsteinevik, Vice President for Subsea 7 Norway said: “This award continues our long-standing collaboration with Equinor. The FEED study enabled Subsea7 to engage early in the field development process, optimising design solutions and contributing to the final investment decision. We look forward to working closely with Equinor to deliver the Fram Sør development safely and efficiently”.
Contract is subject to authority approval of Plan for development and operations (PDO).
EGPC Signs MoU for Digital Transformation of National Pipeline Infrastructure The Egyptian General Petroleum Corporation (EGPC) signed a strategic Memorandum of Understanding (MoU) with its partner, the Siemens, DNV, and EnExpert Energy Consortium. It aims to enhance safety levels and improve the efficiency, security, and sustainability of the petroleum pipeline network for crude oil and petroleum product transportation and storage. It reinforces Egypt’s position in transporting and storing petroleum materials and enables the Petroleum Pipelines Company (PPC) to move towards growth and expand its local and regional presence.
The cooperation includes the implementation of an integrated project comprising three main phases. The three phases aim to modernize and develop the pipeline network belonging to PPC, which is considered one of the largest pipeline networks in the region with a length exceeding 7,000 kilometers extending across the country.
The consortium will develop safety systems, as well as enhance operational process safety and asset efficiency through a set of solutions. They include advanced industrial automation applications, digital twin models, real-time monitoring and analysis tools, alongside Risk-Based Inspection (RBI), and monitoring and preventing illegal encroachments and theft of petroleum products.
SLB Announces Second-Quarter 2025 Results Revenue of $8.55 billion increased 1% sequentially and decreased 6% year on year
GAAP EPS of $0.74 increased 28% sequentially and decreased 4% year on year
EPS, excluding charges and credits, of $0.74 increased 3% sequentially and decreased 13% year on year
Net income attributable to SLB of $1.01 billion increased 27% sequentially and decreased 9% year on year
Adjusted EBITDA of $2.05 billion increased 2% sequentially and decreased 10% year on year
Cash flow from operations was $1.14 billion and free cash flow was $622 million
Board approved quarterly cash dividend of $0.285 per share
“SLB reported solid second-quarter results, leveraging our diversified portfolio and broad market exposure to deliver steady revenue and slightly higher adjusted EBITDA and margins sequentially. This demonstrates our resilience amidst softer upstream spending and macroeconomic uncertainty,” said SLB Chief Executive Officer Olivier Le Peuch.
“The market is navigating several dynamics — including fully supplied oil markets, OPEC+ supply releases, ongoing trade negotiations and geopolitical conflicts. Despite this, commodity prices have remained range bound. Meanwhile, customers have selectively adjusted activity, prioritizing key projects and planning cautiously, particularly in offshore deepwater markets.
“In this context, the upstream market has remained relatively resilient, underscoring the enduring strength of our industry,“ Le Peuch said.
SLB’s Broad Market Exposure Helps to Overcome Regional Headwinds
“Our broad exposure across geographies and business lines enabled us to effectively overcome the impact of certain regional activity slowdowns. As a result, we achieved a 2% sequential increase in international revenue, driven by robust growth in some parts of the Middle East, Asia, Europe and North Africa, which more than offset declines in select key markets.
“Our performance was supported by steady results in digital, with double-digit sequential revenue growth from our platforms, applications and digital operations largely offset by lower sales of exploration data following a strong first quarter. Additionally, we continue to benefit from strategically diversifying the portfolio outside of oil and gas businesses,” Le Peuch said.
bp agrees to sell US onshore wind business to LS Power bp announced that it has agreed to sell its US onshore wind business, BP Wind Energy North America Inc. (bp Wind Energy), to LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector. After close, bp Wind Energy will be owned and operated as part of LS Power portfolio company Clearlight Energy, increasing its operating fleet to ~4.3GW.
bp Wind Energy has been marketed as an integrated business, with its experienced workforce expected to transfer to the new owner on completion of the deal. The business has interests in 10 operating onshore wind energy assets across seven US states, operating nine of them. The assets have a combined gross generating capacity of 1.7GW (1.3GW net to bp). All wind assets are grid-connected and are already providing power to over 15 off-takers.
The deal is part of bp’s focusing of its low carbon energy portfolio, prioritizing investment choices whilst delivering value for shareholders. LS Power will add bp’s US onshore wind business to an existing fleet of renewable, energy storage, flexible gas and renewable fuels assets, which comprise a 21GW operating portfolio and more than 780 miles of high-voltage transmission lines in operation as well as another 350+ miles currently under construction or development.
Marine Masters completes South Angsi Alpha decommissioning Marine Masters has successfully completed its offshore scope for the decommissioning of the South Angsi Alpha (SAA) platform, operated by Hibiscus Oil & Gas Malaysia Limited. The campaign marks a major milestone in the repurposing of retired offshore infrastructure, with the platform’s substructure now resting on the seabed as part of Malaysia’s largest rig-to-reef project.
The SAA platform, located 130 km off the Terengganu coast, was a 4,000 mt weighing four-legged Mobile Offshore Application Barge (MOAB) that served as a full production facility for over 15 years. Following cessation of production, the topside and substructure were prepared for safe removal and partial reefing in line with Malaysian regulatory approvals. This marks the largest platform ever to be decommissioned and repurposed within Malaysian waters.
Marine Masters was overall responsible for the removal of the MOAB by making use of the reversed installation method and the removal of various associated components for safe onshore disposal. The jacket was cut at -55 meters LAT and vertically separated, allowing the sections to be laid on the seabed as artificial reef structures. Additional tasks included the recovery of all 13 conductors, the retrieval of four MOAB support legs, and the cutting and transport of the Wellhead Access Platform.
For this reason, multiple cutting edge techniques have been used and special procedures developed to perform remotely operated underwater cutting (assisted by ROV’s), high speed PVL hand cutting (by divers), set up efficient personnel transfer between the work barge and the MOAB up to custom designed lifting systems to avoid the use of expensive heavy lift vessels.
The MOAB topside has now been successfully skidded to shore at Labuan Shipyard, and all loose items have been offloaded. The ENA WB400 accommodation work barge was demobilized at the same time, while the two transport barges are currently en route to their respective demobilization ports. This marks the conclusion of Marine Masters’ active offshore operations on the project. Although the offshore scope is complete, the project continues with the final handling and disposal of the topside components.
I have just taken another step in building our industrial future. I have submitted an application for the development of a large-scale seaport in Olokola, in Ogun State, southwest Nigeria. This site, which I envisioned more than ten years ago to house our refinery and fertilizer complex, is now once again at the heart of our strategy.
A port to support our energy ambition. Our ambition is clear: to build Nigeria’s largest deep-sea seaport to facilitate the export of our industrial and energy products. This port will become an anchor for our liquefied natural gas (LNG), fertilizers, and fuels, while streamlining the supply chain that supports our growth.
I am not leading this project with the aim of creating a monopoly. I hope it will inspire and pave the way for other African entrepreneurs. We need infrastructure, and it is our responsibility to create it when the state alone cannot provide it.
The bet on gas
We are building a gas pipeline that will connect the Niger Delta to Olokola. This region is abundant in gas, a resource we already use for our fertilizer plant and ammonia production. This pipeline could become a truly beneficial energy backbone for the country, dependent on resources from the South to international markets.
Yes, I want us to occupy our place in the LNG market, currently dominated by Nigeria LNG Ltd. But I am convinced that we can offer a robust and competitive alternative, capable of creating even more value for Nigeria.
Integrating the entire chain: from the refinery to the last mile
Starting in August 2025, we will launch a fleet of 4,000 tanker trucks to directly distribute our fuels across the country. This is not an attempt at hegemony, but a necessity. We have invested in Africa’s largest refinery; it makes sense to also master logistics to ensure efficient and stable supply.
I understand the criticism, but I remain true to my philosophy: to create jobs, build infrastructure, and stimulate an entire industrial ecosystem. Nigeria deserves a strong and integrated model capable of competing with the largest economies.
A Nigeria Looking to the Future
My fortune is just one tool in the service of a greater ambition: to build an industrialized, competitive, and sovereign Nigeria. After cement, sugar, fertilizers, and the refinery, this port of Olokola is the missing piece of a puzzle we have been assembling for years.
This project will transform our coastline into a logistics and energy hub, reduce our dependence on congested ports, and attract new investors. It is a long-term vision, a vision for Africa, driven by Africans. — Aliko Dangote.
“Relaunching Olokola: My Vision for an Industrial and Connected Nigeria” – Dangote
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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