London, June 24, 2025 (Oilandgaspress) –-Oil prices dropped sharply after Iran’s retaliatory strike on US military bases in Qatar appeared less aggressive than initially feared, calming concerns of an immediate disruption to global energy supplies. Iran fired missiles at a US air base in Qatar after promising it would respond “proportionately and decisively” to President Donald Trump’s airstrikes on three of its nuclear facilities. The US administration was anticipating that Iran would retaliate, and doesn’t want more military engagement in the region, CNN cited a senior White House official as saying. Iran’s parliament has called for the closure of the strait, according to state-run TV.
Oil prices have dropped sharply after Israel confirmed it had agreed to a ceasefire with Iran, brokered by the US
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $66.29 | Down |
| Crude Oil (Brent) | USD/bbl | $69.14 | Down |
| Bonny Light 23/06/25 CBN | USD/bbl | $80.92 | Up |
| Dubai | USD/bbl | $71.20 | Down |
| Natural Gas | USD/MMBtu | $3.62 | Down |
| Murban | USD/bbl | $69.63 | Down |
| OPEC basket 23/06/25 | USD/bbl | $76.19 | Up |
EVs into batteries for power grid China’s recent pilot projects to use electric vehicles as batteries to shore up power supply on the grid during spikes in demand are expected to create significant opportunities for the sector, said industry experts and company executives.
The National Development and Reform Commission recently announced 30 projects to boost vehicle-to-grid (V2G) interaction across nine cities in China — including Beijing, Shanghai, and Guangdong province’s Shenzhen and Guangzhou — aiming to support the construction of new energy and power systems and promote the integration and interaction of new energy vehicles with power grids.
V2G technology allows EVs to function as flexible energy resources. They can store electricity and send it back to the grid, so as to avoid peak demand while also becoming an alternative revenue stream for homeowners or operators of charging stations, said the commission.
The notice specifies that power grid companies will set up pilot initiatives while provincial governments are designated to spearhead the growth of charging facilities. The energy regulator is tasked with supporting the integration of grid-connected vehicle applications into power trading.
Alfa Romeo: 115 years defined by Italian sportiness Alfa Romeo’s connection with its fans has always stood apart in the international automotive world. Throughout its first 115 years, this deep, authentic, and inimitable bond has united passion with technical excellence, creating a truly global community. To mark this significant milestone, Alfa Romeo has organized two highly symbolic initiatives: a major event held on Sunday, June 22nd at the Alfa Romeo Historical Museum in Arese, and a moving video released today (link) that pays tribute to the first six months of an extraordinary year filled with prestigious projects and partnerships.
A special year, a collective celebration
On the 115th anniversary of its founding, Alfa Romeo has released a captivating video that looks back on some of the most meaningful moments from this extraordinary year for the brand of noble Italian sportiness since 1910. Though diverse, these moments are all united by a single idea that encapsulates passion, excellence, and Italian identity. The video also celebrates the commercial achievements of 2025, particularly Junior, which has achieved over 42,000 orders since its launch.
The visual narrative opens with an intimate and profound tribute to the new 33 Stradale—the centerpiece of a prestigious publication titled “Alfa Romeo 33 Stradale”. Entirely created by the Alfa Romeo team, the book explores the genesis of the Biscione’s new custom-built car through never-before-seen images and exclusive interviews with the project’s key figures. The publication was created to honor a masterpiece of engineering and design—an emblem of the brand’s rebirth and ambition. The story then moves to the open seas with Luna Rossa—another world-renowned symbol of Italian excellence and Alfa Romeo’s partner for the 38th America’s Cup. For the first time, the world’s oldest and most prestigious sailing event will be held in Italy, set against the spectacular backdrop of the Gulf of Naples. The collaboration is rooted in shared values—technical perfection, a passion for competition, national pride—and extends beyond the sailing world: the team also recently took part in the 2025 1000 Miglia, driving an incredible 1956 Alfa Romeo 1900 Super Sprint that is part of the Stellantis Heritage Collection and usually on display at the Alfa Romeo Historical Museum in Arese.
ØGREID AS Acquires Ramco Norway AS Øgreid AS announces today that the company, through its subsidiary Verket Investering AS, has entered an agreement to acquire 100% of the shares of Ramco Holding Norway and Ramco Norway AS from the UK-based company Ramco Pipetech Holdings Ltd.
Ramco is a leader in the care and maintenance of OCTG and has been delivering service excellence globally for more than 40 years. The company is known for its technological competence, and a strong, loyal customer base.
Eirik Ronold Mathisen, CFO and Partner at Øgreid, comments on behalf of the buyer: “Øgreid invests in companies with proven profitability and skilled management. Over time, Ramco has demonstrated the ability to deliver strong results and is run by capable people with solid industry knowledge. With a loyal and satisfied customer base behind it, we strongly believe that Ramco will continue to create value for many years to come.”
With a history dating back to 1876, Øgreid AS is an active investor and business developer. The company work with a long-term perspective and aims to support companies in their further development for many years to come. The acquisition marks a strategic move for Øgreid AS, strengthening the group’s position in industrial operations with high expertise and growth potential.
“The board of Ramco Pipetech Holdings Limited would like to thank Arild Moe and his team for building such a great business and establishing themselves as OCTG pipe management leaders in Norway. Øgreid has acquired a fabulous business and wishes the new owners and the Ramco Norway team a prosperous and successful future.” Russel Davies. CEO. Ramco Pipetech Holdings Limited. Ramco Norway will continue to operate under the same name and management, and current employees will not be affected due to the change in ownership. Øgreid AS looks forward to supporting the company’s further expansion both in Norway and internationally. The transaction was completed on 23 June 2025. Alpha Corporate Finance acted as advisor to Ramco.
New Director of Public Affairs at Renault Group As of July 1st, Jean-Andre Barbosa will become Director of Public Affairs at Renault Group. Reporting to François Provost, Chief of Procurement, Partnerships and Public Affairs of Renault Group, he will be responsible for all public affairs activities across the Group. Currently VP in charge of European affairs and regulatory affairs for France, Jean-Andre Barbosa will now expand his responsibilities to include international affairs and matters related to competitiveness. His team will be tasked with advocating for Renault Group’s interests with stakeholders across all markets where the Group operates.
Dolphin Drilling – Supreme Court Decision Dolphin Drilling AS (Dolphin Drilling, OSE: DDRIL) today announces the judgment handed down by the UK Supreme Court regarding the legacy tax case. The judgement has now been delivered and rules in favour of HMRC. The value of the tax claim is £9.9million plus interest and costs, estimated to total approximately £16million. Dolphin intends to have discussions with HMRC as to the final liability amount and manner of settlement (which will be the subject of a future disclosure).
Reference is made to the Dolphin Drilling Q1 earnings release report from the 28th of May, specifically the contingent liability noted in the ongoing legal process vs HMRC in the UK. Following two successful appeals defending the company’s position in the First-tier Tax Tribunal in November 2020, and against HMRC’s appeal to the Upper Tribunal in August 2022, the judgement handed down today by the Supreme Court has no mechanism for appeal and is final.
New portable PS DUO from Teledyne GFD detects two gases simultaneously. The new PS DUO uses passive diffusion sensing for the continuous detection of harmful gases in potentially hazardous environments, enhancing safety for personnel. It can monitor two gases simultaneously from a wide selection that includes carbon monoxide (CO), hydrogen sulphide (H₂S), sulphur dioxide (SO₂), ammonia (NH₃), oxygen (O₂), hydrogen (H₂), nitrogen dioxide (NO₂) and ozone (O₃). Users of the ATEX/IECEx-rated PS DUO can select flexible gas pairings according to their specific application. The result? Enhanced safety, flexibility and peace of mind in the field, backed by a 2-year warranty. For applications in regions such as the Middle East, H₂S/ SO₂ capability will prove especially useful. The PS DUO offers a measuring range for H₂S of 0~100 ppm with 0.1 ppm resolution, while 10 ppm and 15 ppm represent the low alarm and high alarm respectively. For SO₂, users can take advantage of 0~20 ppm measuring range, 0.1 ppm resolution, 2 ppm low alarm and 5 ppm high alarm. The LCD display provides continuous real-time gas concentration information, while the internal memory supports up to 30 alarm logs. Wireless connectivity allows seamless data retrieval and safety system integration.
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 |
Petro-Victory begins drilling campaign in Potiguar basin, Brazil. Petro-Victory Energy Corp., an oil and gas E&P company focused on onshore Brazil, has commenced its drilling campaign of the AND-5 well at the Andorinha Field located in the Potiguar basin, Rio Grande do Norte, Brazil.
The AND-5 well drilling campaign, located in the 100% owned Andorinha Field in Brazil’s Potiguar Basin, commenced on June 20, 2025. The well represents the first of two fully-funded drilling programs in the Andorinha field under Petro-Victory’s strategic partnership with Azevedo & Travassos Energia (ATE) previously announced in a press release on June 24th, 2024. The well targets the Açu and Alagamar formations at a targeted total depth of approximately 1,177 meters. Petro-Victory stated plans to provide further updates upon completion of the well.
OEG, VGE strengthen Qatar partnership with new agreement OEG has finalized an agreement with Al Nasr Holding Co. in Qatar. The agreement further reinforces the OEG’s strategic partnership with Venture Gulf Engineering (VGE), an Al Nasr subsidiary, which supports the oil and gas, petrochemical, and industrial sectors in Qatar. The alliance, which has grown from an initial fleet of 40 cargo carrying units to more than 3,000 assets strategically positioned throughout the region, demonstrates the robustness of the OEG and VGE partnership and the high level of trust driving its success.
Tesla robotaxi test rides hit the road in Austin, Texas The automaker deployed a small fleet of self-driving taxis in Austin, Texas, on Sunday, marking the first time its cars have carried paying passengers without human drivers. The rides were being offered for a flat fee of $4.20 in a limited zone. The trial’s success is crucial for Tesla as Musk has pivoted the company to self-driving cars and robots, shelving plans for mass-market dominance in the EV space as Chinese competition heats up and demand slows for its aging line-up of models.
Tesla told U.S. regulators on Monday that its answers on the safety of the robotaxi deployment are confidential business information and should not be made public, after the National Highway Traffic Safety Administration said it was reviewing answers given in response to its questions about the safety of the robotaxi in poor weather among numerous issues.
Tesla shares jumped over 9% on Monday
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
OilandGasPress.com is a website that provides news, updates, and information related to the oil and gas industry. It covers a wide range of topics, including exploration, production, refining, transportation, distribution, and automotive market trends within the global energy sector. Visitors to the site can find articles, press releases, reports, and other resources relevant to professionals and enthusiasts interested in the energy, oil and gas industry.
Disclaimer: News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Information posted is accurate at the time of posting, but may be superseded by subsequent press releases
“Stay informed with Oilandgaspress.com—your independent source for global energy, oil, gas, EV, and automotive industry news and analysis.”
Submit your Releases or contact us now!, victor@oilandgaspress
Follow us: on Twitter | Instagram
Your Daily Source for Oil, Gas, Renewables & EV Market Insights :
latest oil and gas updates
energy news today
oil market news
gas prices update
oil price forecast
global oil trends
crude oil market
automotive electrification
EV industry news
electric vehicle trends
automotive industry forecast
