London, September 02, 2025, (Oilandgaspress) ––Major investment banks, including Goldman Sachs, Morgan Stanley, and JPMorgan, see Brent Crude prices averaging $63.57 per barrel in the fourth quarter, a survey compiled by The Wall Street Journal showed this week. The projection is down from $64.13 expected in July and down from the Friday prompt price of about $68 a barrel.
For WTI Crude, the banks expect the price to average just above $60 per barrel, at $60.30, in the fourth quarter, down from last month’s $61.11 a barrel and down compared to the current price of about $64 a barrel. Oil prices are set to further drop in the first quarter of 2026, with Brent at $62.73 and WTI at $59.65 per barrel, according to the Journal’s survey. Read More
Egypt Gas has reported higher net profits after taxes of EGP 209.18 million in the first half (H1) of 2025, compared to EGP 167.61 million in H1 of 2024, according to the Egyptian Exchange.. Read More
Mercedes-Benz Trucks and Finėjas Group, one of the largest customers of the German manufacturer in Europe, celebrated the official handover of the first two fully electric Mercedes-Benz eActros 600 trucks in Lithuania. The delivery marks the start of the customer’s electrification journey and highlights the growing importance of battery-electric long-haul transport in Eastern Europe.
With a fleet of 1,700 Mercedes-Benz trucks and an additional 300 vehicles ordered this year – including the first two eActros 600 – Finėjas Group is strengthening its pioneering role in sustainable logistics. The handover took place at Veho Lietuva in Vilnius, the official Mercedes-Benz Trucks representative in Lithuania, together with representatives of Finėjas Group. Read More
India’s savings from discount Russian crude since 2022 have reached $12.6 billion, the Indian Express has calculated, although there could be much higher implied savings, the media outlet reported. According to the Indian Express report, “This may be among the reasons why India has shown no signs of buckling under American pressure on the issue of oil imports from Russia.” The pressure has recently intensified, with the White House senior counselor for trade and manufacturing accusing India of “profiteering” from Russian oil imports. India did not stop buying Russian oil, so Trump went through with the threat, slapping a total tariff of 50% on Indian imports effective August 27. Still, Russia has remained India’s largest single supplier of crude oil, accounting for over 31% of total oil imports in July. India’s second-largest supplier, Iraq, had a share of some 17% of the total, and Saudi Arabia, at number three, accounted for just above 16% of total imports in July. Read More
TechnipFMC has been awarded two subsea contracts by Petrobras for flexible pipe for use in multiple basins.
The first award is a substantial(1) contract to design, engineer, and manufacture flexible gas injection risers. This high-technology solution will sustain reservoir pressure and enhance production efficiency through high-capacity gas reinjection in pre-salt formations in the Santos Basin.
The second award, which followed a competitive tender, is a significant(2) contract to design, engineer, and manufacture flexible risers and flowlines for deployment on assets in the Campos Basin.
Jonathan Landes, President, Subsea at TechnipFMC, commented: “As Petrobras unlocks Brazil’s energy resources, we are proud to provide technology and expertise that support some of their most technically challenging projects. TechnipFMC is a subsea innovation leader and continues to advance flexible technology to support new projects and enhance value for its clients.”
Manufacturing will be fulfilled exclusively at TechnipFMC’s flexibles manufacturing facility in Açu, Brazil. For more than 40 years, TechnipFMC has delivered advanced technological solutions while supporting the development of local economies in Brazil.. Read More
Baker Hughes announced Tuesday an award from Fervo Energy Company, the leader in next-generation geothermal energy, to design and deliver equipment for five Organic Rankine Cycle (ORC) power plants at Fervo’s Cape Station power generation project near Milford, Utah, United States. Once operational, the five Cape Phase II ORC plants will generate approximately 300 megawatts of clean, reliable, and affordable power to the grid, equivalent power to approximately 180,000 homes.
Baker Hughes’ equipment is designed to operate with Fervo’s cutting-edge Enhanced Geothermal Systems (EGS), resulting in a fully integrated power plant that drives scalability in sustainable baseload power generation. The award is for Fervo-exclusive surface power generation equipment leveraging Baker Hughes’ geothermal solutions portfolio, which spans subsurface and production technology through to power generation solutions. Baker Hughes’ engineering and equipment scope for the project includes design and delivery of equipment for five 60-MWe ORC units, including the engineering, manufacturing, and supply of turboexpanders and the BRUSH™ Power Generation generator. The order, to be booked under the Industrial & Energy Technology segment of Baker Hughes, follows previous awards from Fervo Energy for subsurface drilling and production technologies from the company’s Oilfield Services & Equipment business. Read More
Russia and China have signed a legally binding memorandum for the construction of a new gas pipeline through Mongolia to China, Gazprom chief Alexei Miller announced in Beijing on Tuesday, according to Russian news agencies.
The price of gas supplied via the Power of Siberia 2 pipeline would be lower than for Europe, Miller noted, pointing to reduced transport costs.The 6,700-kilometre-long Power of Siberia 2 pipeline, including 2,700 kilometres on Russian soil, is due to have a capacity of 50 billion cubic metres per year. The contract is set for 30 years, according to the Russian reports. Read More
Jaguar Land Rover (JLR) – Britain’s largest carmaker – has admitted electric modes of transport do not provide the level of ‘blast protection’ that might be hoped. The issue was addressed in written responses to a government consultation on EV (electric vehicle) sales rules.Armoured vehicles are a small but profitable part of carmakers’ business. Normally, the transport will have bulletproof glass, armour plating, and ‘bomb blankets’ under the floor.
This can add hundreds of kilograms of weight. The UK Prime Minister,Keir Starmer has now been banned from driving around in his armoured electric Range Rover – because it does not offer ‘adequate bomb protection’. The prime ministerial fleet also includes non-electric, German-made armoured Audi A8 saloon cars, replacing the Jaguar XJ after the model was discontinued. Read More
The Syrian Ministry of Energy announced on Monday the resumption of heavy oil exports from the western port of Tartus for the first time in 14 years.
The ministry said in a statement: “Today (Monday), 600,000 barrels of heavy oil were exported from the Tartus oil terminal aboard the tanker Nessus Christiana for BeServ Energy.”. In June, Syria re-exported non-crude petroleum products from the Banias refinery in Tartus province, with an initial shipment of 30,000 metric tonnes sent to international markets.
Baniyas, located about 35km north of Tartus, is a small but strategic coastal city that is home to Syria’s largest oil refinery and an oil port specialised in exporting and importing crude. Read More .
NIO Inc. Reports Unaudited Second Quarter 2025 Financial Results
Quarterly Total Revenues Reached RMB19,008.7 million (US$2,653.5 million)i
Quarterly Vehicle Deliveries were 72,056 units representing an increase of 25.6% from the second quarter of 2024, and an increase of 71.2% from the first quarter of 2025. The deliveries consisted of 47,132 vehicles from the Company’s premium smart electric vehicle brand NIO, 17,081 vehicles from the Company’s family-oriented smart electric vehicle brand ONVO and 7,843 vehicles from the Company’s small smart high-end electric car brand FIREFLY.
Financial Highlights for the Second Quarter of 2025
Vehicle sales were RMB16,136.1 million (US$2,252.5 million) in the second quarter of 2025, representing an increase of 2.9% from the second quarter of 2024 and an increase of 62.3% from the first quarter of 2025.
Vehicle marginii was 10.3% in the second quarter of 2025, compared with 12.2% in the second quarter of 2024 and 10.2% in the first quarter of 2025.
Total revenues were RMB19,008.7 million (US$2,653.5 million) in the second quarter of 2025, representing an increase of 9.0% from the second quarter of 2024 and an increase of 57.9% from the first quarter of 2025.
Gross profit was RMB1,897.5 million (US$264.9 million) in the second quarter of 2025, representing an increase of 12.4% from the second quarter of 2024 and an increase of 106.3% from the first quarter of 2025.
Gross margin was 10.0% in the second quarter of 2025, compared with 9.7% in the second quarter of 2024 and 7.6% in the first quarter of 2025.
Loss from operations was RMB4,908.9 million (US$685.2 million) in the second quarter of 2025, representing a decrease of 5.8% from the second quarter of 2024 and a decrease of 23.5% from the first quarter of 2025. Excluding share-based compensation expenses and organizational optimization charges, adjusted loss from operations (non-GAAP) was RMB4,040.8 million (US$564.1 million) in the second quarter of 2025, representing a decrease of 14.0% from the second quarter of 2024 and a decrease of 32.1% from the first quarter of 2025.
Net loss was RMB4,994.8 million (US$697.2 million) in the second quarter of 2025, representing a decrease of 1.0% from the second quarter of 2024 and a decrease of 26.0% from the first quarter of 2025. Excluding share-based compensation expenses and organizational optimization charges, adjusted net loss (non-GAAP) was RMB4,126.7 million (US$576.1 million) in the second quarter of 2025, representing a decrease of 9.0% from the second quarter of 2024 and a decrease of 34.3% from the first quarter of 2025.
Cash and cash equivalents, restricted cash, short-term investment and long-term time deposits were RMB27.2 billion (US$3.8 billion) as of June 30, 2025.. Read More
BW Offshore: Second quarter and first half results 2025
HIGHLIGHTS
EBITDA USD 57 million in Q2 and USD 148 million for the first half-year
Net profit USD 25 million in Q2 and USD 87 million for the first half-year
Operating cashflow USD 103 million in Q2 and USD 160 million for the first half-year
Equity ratio 30.7% and USD 531 million in available liquidity
Q2 cash dividend USD 0.063 per share equivalent to USD 11 million
BW Opal hooked up on the Barossa field, on track for first gas in Q3
2025 EBITDA guidance raised to USD 240–260 million (previously USD 220-250 million) Read More
BW Offshore has signed a Head of Agreement (HoA) with Equinor Canada Ltd, confirming its selection as preferred bidder for the Floating Production, Storage and Offloading (FPSO) unit for the Bay du Nord project offshore Newfoundland and Labrador, Canada. Bay du Nord, Canada’s first deepwater oil project, is operated by Equinor in partnership with BP and holds an estimated 400 million barrels of recoverable light crude in its initial phase.
Under the HoA, BW Offshore and Equinor will continue to advance discussions on all technical and commercial aspects of the FPSO project. These include further maturation of a smart and cost-effective design through Front End Engineering Design (FEED) work, and agreeing on a commercial solution.
The FPSO will be tailored for the harsh environment of the sub-Arctic. The unit is expected to support production of up to 160,000 barrels of oil per day and will feature a disconnectable turret system and extensive winterisation. The topside will include emission reduction initiatives such as high-efficiency power generation and heat recovery, variable speed drives and a closed flare system. The FPSO will be designed for future tiebacks to enhance the project’s long term economic viability and value creation. Read More
The shares in BW Offshore Limited will trade ex dividend USD 0.0625 per share as from today, 2 September 2025. Dividend payment to shareholders will be on or about 11 September 2025.
This information is published in accordance with the requirements of the Continuing Obligations. BW Offshore engineers innovative floating production solutions. The Company has a fleet of FPSOs with potential and ambition to grow. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $65.77 | Up |
| Crude Oil (Brent) | USD/bbl | $69.25 | Up |
| Bonny Light 01/09/25 CBN | USD/bbl | $70.33 | Up |
| Dubai | USD/bbl | $69.38 | — |
| Natural Gas | USD/MMBtu | $2.94 | Down |
| Murban | USD/bbl | $72.26 | Up |
| OPEC basket 01/09/25 | USD/bbl | $70.98 | Up |
Vestas is proud to announce the following order as part of our Q3 order intake:
| Country | Region | Customer | Project name | MW | Turbine variant | Service agreement | Delivery & commissioning |
| Germany | EMEA | Energiekontor AG | Haberloh & Heidkrug | 94 | 13 X V162-7.2MW | 20-year AOM 4000 Service Agreement | Delivery planned to begin in Q2 2027, commissioning scheduled for Q4 2027 |
The Sophie 8X, a student-built solar-powered EV from the Vocational Training Council (VTC) in Hong Kong, has claimed victory in the Cruiser class of the 2025 Bridgestone World Solar Challenge.
The event took competitors on a 3,000-kilometer (around 1,864-mile) journey across the Australian outback, from Darwin to Adelaide.
Preliminary records show Sophie 8X completed the route in 44 hours, covering 3,021.5 kilometers (1,877.5 miles) at an average speed of 68.7 kilometers per hour (42.7 mph). It was a demanding test of engineering skill, racing strategy, and renewable energy innovation.. Read More
CNPC’s “Xuhang” Program helped over 10,000 students in a decade
CNPC awarded this year’s scholarships to the “Xuhang” Program students in Gansu, Henan and Chongqing and other provinces/municipalities, with each student getting RMB 5,000 for university life.
Co-initiated by CNPC and the China Foundation for Rural Development, the “Xuhang” program adopts a “financial aid + growth empowerment” model to provide comprehensive support for outstanding, financially disadvantaged students from poverty-alleviated regions, helping them complete their studies and achieve their educational dreams. Since its inception in 2015, the program has provided over RMB 90 million to over 10,000 students in 31 senior high schools in 11 provinces, cities and autonomous regions. In 2025, about 1,400 students graduated with the support of the “Xuhang” Program scholarships.. Read More
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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