London, August 07, 2025, (Oilandgaspress) –––The Trump administration’s criticism of India’s Russian oil purchases sharpened after it failed to reach a trade deal with Narendra Modi’s government, prompting Washington to levy a 25 per cent import tariff on Indian goods.
According to trade data shared with Reuters, India is the biggest buyer of seaborne crude from Russia, importing about 1.75 million barrels per day from January to June this year, up 1 per cent from one year ago. In total, it imported Russian oil worth about £38bn in the financial year ending March 2025.
India, the third largest oil importer and consumer in the world, depends on Russian oil for 35 per cent of its total crude needs, according to official data.
After the Russian invasion of Ukraine in 2022, India became the biggest buyer of Russian crude due to the diversion of traditional supplies to Europe, which officials in New Delhi said was a “necessity compelled by global market situation”.
In that first year, India imported as much as two million barrels a day of Russian oil, accounting for roughly 2 per cent of global supply. China and Turkey were the other major buyers.In 2023, at the same time as India’s import of Russian crude oil more than doubled year-on-year, its export of refined crude to the EU grew to a record level.
In April this year, Kpler market data showed Indian import of Russian crude likely hitting 2.15 million barrels a day, the highest volumes since May 2023. Read More
Baker Hughes, announced it has completed its all-cash, $540 million acquisition of Continental Disc Corporation (CDC) from investment partnerships managed by Tinicum Incorporated.
The transaction brings a complementary portfolio of products to Baker Hughes’ existing valves product line, expanding the company’s addressable market in the flow control market with the addition of CDC’s well-established critical pressure management solutions. The acquisition is expected to be immediately accretive to earnings and cash flow per share and Industrial & Energy Technology’s segment margins.. Read More
C-Kore Systems, a globally trusted provider of subsea testing tools, has once again demonstrated its outstanding responsiveness and capability by delivering their subsea testing tool- TDR (Time Domain Reflectometry) to Belfast within six hours of receiving the initial request from Vermilion Energy, marking their fastest delivery in the company’s history.
The urgent request required immediate subsea testing support for an active offshore campaign. The C-Kore team went above and beyond, responding without delay by initiating both the commercial and technical preparations, while the production team simultaneously started the build of the tools. Furthermore, C-Kore also provided out-of-office-hours expert data analysis to ensure continued support after the tools were dispatched.
Nick Peach, Subsea Operations and Maintenance Lead at Vermilion Energy expressed appreciation for C-Kore’s seamless support, commenting “C-Kore provided excellent support over the weekend, including expert analysis that helped drive decision making and reduce delays to the vessel. The data collected is of paramount importance to Vermilion and despite the challenges of weekend work, C-Kore responded quickly and effectively. Their commitment during a time-sensitive phase was greatly appreciated, and the data we achieved justified the effort of expediting the tool.”. Read More
Vestas has received a 274 MW order from EDF power solutions North America to supply 25 EnVentus V162-6.0 MW wind turbines and 20 EnVentus V162-6.2 MW wind turbines for the Madawaska wind project in Québec, Canada including a 10-year Active Output Management (AOM) 5000 service agreement. Once operational, Madawaska will provide clean and secure energy to tens of thousands of Québec homes while supporting local job creation and industrial development.
The 274 MW Madawaska order follows the recently announced 124 MW EnVentus order with EDF power solutions for the Haute-Chaudière wind project, also in Quebec.
“We’re excited to continue our growing partnership with EDF power solutions North America and the Madawaska project once again highlights the power of collaboration, where proven supply chain expertise meets world-class technology,” said Laura Beane, President, Vestas North America. “Through continued investment in Quebec’s energy future, collectively we are helping pave the way for large-scale renewable development. With Hydro-Quebec targeting 10 GW of wind capacity by 2035, momentum is building and it’s through partnerships like this one that we are preparing to make the province’s bold vision a reality.”
“Madawaska Wind, the second of three projects awarded by Hydro-Quebec through its call for tenders, serves as a testament to the strength of our collaboration with Vestas,” said Tristan Grimbert, President and CEO of EDF power solutions North America. “As the Madawaska project moves forward, we are committed to leveraging these strong partnerships to continue to make a meaningful impact on Quebec’s energy future.” Read More Vestas wins 274 MW order in Canada from EDF .
ADNOC Distribution reported double-digit growth in its EBITDA and net profit for the first half of 2025, exceeding analyst expectations.
The Company achieved its highest-ever first-half EBITDA of $566 million, up 10.0% year-on-year (YoY), driving a 12.2% YoY increase in net profit to $358 million. The Company also achieved record first-half fuel volumes of 7.62 billion liters, up 5.6% YoY.
The strong H1 performance marks a key milestone in ADNOC Distribution’s five-year growth strategy, which aims to deliver EBITDA growth through key strategic initiatives and focus areas by 2028, driving long-term value creation and positioning the company for sustained growth.
Bader Saeed Al Lamki, CEO of ADNOC Distribution, said: “Our strong H1 2025 results demonstrate the successful execution of our 2024-28 growth strategy, driven by operational excellence and customer-focused innovation. The sustained growth in EBITDA and net profit highlights our ability to scale effectively, drive value creation, and expand our leadership in mobility and convenience retail. By leveraging advanced technologies, unlocking new operational efficiencies, and bringing our commitment to quality to more communities than ever before, we are well-positioned to deliver sustainable, long-term growth and superior returns for our shareholders.”
ADNOC Distribution’s non-fuel retail business continues to drive strong growth, with a 14.9% YoY increase in non-fuel retail gross profit and a 10.4% YoY rise in transactions for the first half of 2025. This continued outperformance of non-fuel retail over fuel retail reinforces the Company’s strategic focus on diversifying revenue streams and capturing growing demand for convenience services. In addition, ADNOC Rewards, the UAE’s leading fuel and convenience loyalty program, grew by 19.5% YoY to nearly 2.5 million users.
ADNOC Distribution continued its strategic network expansion, adding 47 new service stations in the first half of 2025, bringing its total network to nearly 940. A majority of the new stations are located in Saudi Arabia, where the Company is successfully leveraging its CAPEX-light Dealer Owned-Company Operated (DOCO) business model, which is optimized for sustainable growth. The DOCO model has enabled ADNOC Distribution to double its Saudi network YoY, from 69 to 140 stations.
Building on this momentum, the Company has revised its expansion guidance upwards to 60-70 new stations by the end of 2025, with 50-60 of these located in Saudi Arabia. This strategic expansion strengthens ADNOC Distribution’s regional footprint, enabling it to capitalize on the growing demand for mobility and convenience retail, fueling its growth trajectory and enhancing shareholder value in line with its strategic goals. Read More ADNOC Distribution delivers 12% net profit growth
Gold prices edged higher on Thursday, helped by a weaker dollar on growing expectations of a Federal Reserve rate cut next month, while investors awaited U.S. President Donald Trump’s nominations to the central bank’s Board of Governors.
FUNDAMENTALS
Spot gold added 0.1% at $3,372.97 per ounce as of 0057 GMT. U.S. gold futures gained 0.3% to $3,442.20.
The dollar index hovered near more than one-week low after a surprisingly weak U.S. jobs data last week triggered bets for Fed rate cuts from September.
Traders are now pricing in a 95% chance of a 25-basis-point cut next month, up from 48% a week ago, according to the CME Group’s FedWatch Tool.
The Fed may need to cut rates in the near-term in response to a slowing U.S. economy, even though it remains unclear whether tariffs will continue to push inflation higher, Minneapolis Fed President Neel Kashkari said. Read MoreGold up as dollar weakens
Toyota Motor Corporation (Toyota) announced today that it plans to acquire land in the Teihoucho area of Toyota City, Aichi Prefecture, Japan, to establish a new vehicle manufacturing plant.
Operations at the new plant are planned to start in the early 2030s, with production models to be determined in the future.
The establishment of the plant will proceed with the cooperation of all stakeholders, including Aichi Prefecture, Toyota City, and local residents.
In addition to maintaining production capacity of 3 million vehicles in Japan, Toyota is also working on creating a “plant of the future” that uses cutting-edge technology and provides an environment where a diverse workforce can thrive.
Toyota will continue to aspire to be the ‘best company in town’ in every country and region where it operates. Read More Toyota to Establish New Vehicle Manufacturing Plant in Japan
Golar LNG Limited announced that Southern Energy S.A. (“SESA”) has reached Final Investment Decision for the charter of Golar’s 3.5MTPA MK II FLNG, as contemplated under the terms of the definitive agreements executed by SESA and Golar in May 2025.
The key commercial terms for the 20-year charter agreement include net charter hire to Golar of US$ 400 million per year, plus a commodity linked tariff component of 25% of FOB prices in excess of US$ 8/mmbtu. The FLNG, currently under conversion in China, will sail to Argentina following her redelivery, with contract start-up expected during 2028. The MKII FLNG will be moored in the San Matías Gulf near the FLNG Hilli, which is expected to start its 20-year charter with SESA during 2027. Combined, the two units have a nameplate capacity of 5.95MTPA, and the project expects to benefit from significant operational efficiencies and synergies from two FLNGs in the same area.
SESA is a company formed to enable LNG exports from Argentina. SESA is owned by a consortium of leading Argentinian gas producers including Pan American Energy (30%), YPF (25%), Pampa Energia (20%) and Harbour Energy (15%), as well as Golar (10%).
The MKII FLNG project remains subject to regulatory conditions precedent and satisfaction of other customary closing conditions which are progressing according to schedule and expected within 2025.. Read More 20-year charter of MK II FLNG to Southern Energy in Argentina .
Occidental Announce Oil and gas pre-tax income was $934 million for the second quarter of 2025. Excluding items affecting comparability, the decrease in second quarter oil and gas income, compared to the first quarter of 2025, was due to lower commodity prices, partially offset by higher crude oil volumes and lower lease operating expense.
$950 million of additional divestitures since the start of the second quarter of 2025, of which approximately $370 million has already closed. Occidental has repaid $3.0 billion of debt year-to-date through a combination of asset sales, organic cash flow and proceeds from warrants exercised
- Operating cash flow of $3.0 billion and operating cash flow before working capital of $2.6 billion
- Capital spending of $2.0 billion and contributions from noncontrolling interest of $51 million resulted in quarterly free cash flow before working capital of $0.7 billion
- Total company production above the mid-point of guidance with 1,400 Mboed
- Midstream and marketing exceeded the high-end of guidance for pre-tax adjusted income
- Earnings per diluted share of $0.26 and adjusted earnings per diluted share of $0.39
- Reducing the mid-point of 2025 capital guidance by $100 million and international operating costs by $50 million, driven by continued operational efficiency gains. Year-to-date, Occidental has realized or identified $500 million in capital and operating cost reductions from the original guidance Read More Occidental Announces 2nd Quarter 2025 Results
.Italy gave the final approval on Wednesday to build what would be the world’s longest suspension bridge, connecting Sicily to the mainland, despite concerns including earthquakes, environmental impacts and the threat of mafia interference.
An inter-ministerial committee with oversight of strategic public investments approved the €13.5 billion project, the Transport Ministry said in a statement.
Transport Minister Matteo Salvini said the project will be “an accelerator for development” in southern Italy.
Preliminary work could begin later this summer with construction set to start next year. Despite bureaucratic delays, the bridge is expected to be finished by 2033, Salvini said. Read More €13 billion project to build world’s largest suspension bridge to Sicily
Nigeria’s First Exploration and Petroleum Development Co. is eying gas exploration in East Africa, reflecting a wider push by the country’s energy companies to grow outside the home market.
First E&P signed a deal with the Tanzania Petroleum Development Corp. last month for the technical assessment and potential development of the Mnazi Bay North Block in southern Tanzania, near fields where vast gas reserves were found in Mozambique.
George Toriola, the company’s chief strategy officer, said the agreement’s timeline for preliminary studies is six months with an option to mutually extend. “Both of us are very keen to do this quickly,” he said.
First E&P, which produces an average of 57,000 bopd, joins other Nigerian energy firms seeking growth opportunities abroad in the wake of their recent acquisitions of onshore and shallow water assets sold off by international oil majors in the West African nation.
That extends to the downstream business as well. Oando Trading was chosen earlier this year by Trinidad and Tobago’s Trinidad Petroleum Holdings Ltd to lease the Petrotrin oil refinery. The Aiteo Group, a company owned by Nigerian tycoon Benedict Peters, is separately proposing a 200,000 barrel-a-day refinery in Mozambique. Read More Gas exploration in Tanzania
On 23 May 2025, the ENRG Board announced its intention to commence an asset realisation strategy involving the mandate of Victory Hill to realise the portfolio of assets in a timely manner with a view to maximising value for its shareholders.
While both the Board and Victory Hill maintain strong confidence in the quality and long-term potential of the Company’s assets, the Board believes that, given current market conditions, it is in the best interests of shareholders to provide a clear and structured path towards the realisation of portfolio value and the return of capital.
To this end, the Board expects to publish a Circular on or around 6 August 2025 to convene a General Meeting on 28 August 2025 at which shareholders may vote on the resolutions that would implement the proposed asset realisation strategy. The Directors intend to vote in favour of these resolutions in respect of their holdings of shares.
Financial & Operational Highlights
Dividends
The Company announced an interim dividend of 1.45p per share in respect of the period 1 April 2025 to 30 June 2025, in line with the dividend target for 2025. Based on the share price as at 30 June 2025, the resulting annual dividend yield would be 8.0%. As at 30 June 2025, the dividend was 0.84x covered. The performance of the assets that have recently become operational is expected to increase dividend coverage in future periods.
Leverage
Total leverage of the Company is 7.0% of NAV as at 30 June 2025, which comprises of asset-level leverage at its US, Iberian and Swedish assets. The Company does not employ leverage at the fund level. Read More ENRG publishes Q2 2025 NAV and factsheet
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $64.38 | Down |
| Crude Oil (Brent) | USD/bbl | $66.93 | Down |
| Bonny Light 06/08/25 CBN | USD/bbl | $72.34 | Up |
| Dubai | USD/bbl | $69.16 | Down |
| Natural Gas | USD/MMBtu | $3.04 | Up |
| Murban | USD/bbl | $70.44 | Up |
| OPEC basket 06/08/25 | USD/bbl | $70.59 | Down |
VH Global Energy Infrastructure plc announced that it has successfully energised an additional solar and energy storage hybrid system in Australia, on time and on budget. The asset situated in New South Wales is currently operating in accordance with a ramp-up process set by the network operator, and comprises a solar PV site with DC-coupled two-hour 4.95MW battery energy storage system (“BESS”).
A further hybrid asset is still expected to be energised in Q3 2025 and, upon completion, the total capacity of the Australian programme will be 37MW/60MWh across seven assets in New South Wales, Queensland and South Australia.Read More Energisation of a hybrid solar and battery storage project in Australia
Danny Peachey from HTL Group, the leading provider the leading provider of hydraulic cutters, looks at five digital trends already influencing pipeline operations, from AI-driven monitoring to predictive maintenance.
AI & Predictive Analytics – Operators are cutting unplanned downtime and maintenance costs by using AI to detect early signs of failure across thousands of pipeline assets.
Robotics & Autonomous Inspection – From drones and submersibles in oil and gas to ‘pipebots’ in water networks, robotic inspections are reducing disruption and boosting safety.
IoT-Enabled Smart Monitoring – High-frequency, sensor-based monitoring is slashing leak detection time and enabling real-time, data-led decision-making.
Digital Twins – Virtual replicas of pipeline networks are helping engineers simulate, test, and optimise operations before real-world changes are made.
Predictive Maintenance – Data-driven maintenance strategies are helping operators move beyond reactive fixes and reduce high-cost failures. Read More Digital Technologies Reshaping the Pipeline Sector
Harbour Energy plans to wind down its North Sea investments and has already announced 250 job losses in Aberdeen, a city once regarded as the oil and gas capital of Europe. On Thursday, a spokesman said the company would be offering jobs in its overseas operations to suitable UK workers but most of the staff marked for redundancy would be leaving the company. It came as Harbour report half-year results that made clear the impact of the energy profits levy, or windfall tax, which was initially imposed by the Conservatives and increased under Labour.
Harbour made a profit before tax of $1.6bn (£1.2bn) but faced a tax bill of $1.8bn, resulting in a post tax loss of $174m. This was largely down to UK windfall levies plus foreign exchange transactions.
The report said: “The effective tax rate for the six months ending on June 30 2025 was 111pc, compared to 85pc for the same period in 2024.”
The company said the increase was “primarily” down to a deferred tax charge resulting from Labour’s decision to extend windfall taxes to 2030. Harbour Energy is to move skilled jobs out of the UK
The Volkswagen Group is continuing its long-term commitment to promoting a culture of remembering the victims of National Socialism by donating 150,000 euros to the International Auschwitz Committee (IAC) and the International Youth Meeting Center (IYMC) in Oświęcim, Poland. The International Auschwitz Committee unites Auschwitz survivors and their organizations from 19 countries, carrying out commemorative and educational work. The International Youth Meeting Center in Oświęcim/Auschwitz is an educational institution founded by the Action Reconciliation Service for Peace and the city of Oświęcim with the support of former prisoners of the Auschwitz concentration camp. Read More Volkswagen supports International Auschwitz Committee
Uniper recorded adjusted EBITDA of €379 million in the first half of 2025. As anticipated, this was significantly below its exceptionally good prior-year earnings of €1,743 million. Likewise as anticipated, adjusted net income of €135 million was significantly below the prior-year figure of €1,138 million.
Earnings forecast for the 2025 financial year reaffirmed and range narrowed
Uniper reaffirms its forecast for the current financial year and narrows the range. It expects adjusted EBITDA in a range of €1 to €1.3 billion (instead of €0.9 to €1.3 billion) and adjusted net income of €350 million to €550 million (instead of €250 to €550 million).
Transformation strategy finetuned
Uniper has finetuned its transformation strategy amid a challenging market and regulatory environment. Uniper intends to maintain its leading role in providing a reliable energy supply to power and gas customers in Germany and other European markets. It has so far made investment decisions totaling around €900 million under this strategy. The company intends to invest about €8 billion in its transformation by the early 2030s and, according to its current estimate of market developments, to invest about €5 billion through 2030.
Planned investments of around €5 billion through 2030 will predominantly go toward Uniper’s Green Generation and Flexible Generation segments. The remainder will be invested in the Greener Commodities segment. Uniper plans to have 15 to 20 gigawatts of power generating capacity by 2030. It expects that by then at least 50% of its generating capacity will be renewable, low-carbon, or decarbonizable.
Uniper plays a key role in securing the energy supply
Uniper’s power business will participate in the federal government’s planned auction for new gas-fired power plants in Germany. In the United Kingdom, Uniper plans to build two new gas-fired power plants, at Connah’s Quay and Killingholme, that could be equipped with carbon capture and storage. Connah’s Quay Low Carbon Power project was, earlier this week, confirmed by the UK government as a priority project in the HyNet cluster and Uniper is now entering into negotiations to develop a gas-fired power plant with carbon capture. This reaffirms Uniper’s key role in the UK’s energy transition – as a reliable partner for secure supply, regional value creation and the development of modern CCS assets.Read More Uniper reaffirms full-year forecast
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
