London, October 13, 2025, (Oilandgaspress) –––WTI crude hovered below $60 per barrel briefly to $59.86/bbl, as easing Middle East tensions and weak China–U.S. sentiment erased much of oil’s geopolitical risk premium, but steadied at just over $60. OPEC @ $65.33/bbl In its latest short term energy outlook (STEO), the U.S. Energy Information Administration (EIA) raised its average West Texas Intermediate (WTI) spot price forecasts for 2025 and 2026.
According to its latest STEO, the EIA now sees the commodity averaging $65.00 per barrel this year and $48.50 per barrel next year.
Serica Energy plc signed an agreement to acquire the entirety of BP’s stake in the P111 and P2544 licences, located in the UK Central North Sea.
Completion is subject inter alia to the waiver of applicable pre-emption rights. The Proposed Acquisition comprises a 32% non-operated working interest in the P111 licence, containing the Culzean gas condensate field (‘Culzean’), and P2544, an exploration licence adjacent to the P111 licence. The Culzean field, operated by TotalEnergies, is currently the largest single producing gas field in the UK North Sea. As per the terms of the joint operating agreement between the Culzean field partners, the Proposed Acquisition announced today is subject to a pre-emption period which runs for 30 days, with each of the Culzean field partners (TotalEnergies, 49.99%, and NEO NEXT, 18.01%) having the option to acquire BP’s stake in the licences on the same terms as those agreed by Serica. The Company will update the market further as and when appropriate. The Proposed Acquisition has an economic date of 1 September 2025 and an upfront cash consideration of $232 million, subject to customary working capital adjustments and partially offset by the receipt of a payment reflecting interim post-tax cashflows between the economic date of the transaction and the completion date, expected around the end of 2025.
The terms of the Proposed Acquisition also include provision for two further cash payments contingent on: (1) successful results and production from a large exploration opportunity on the P2544 licence; and (2) changes to the UK ring-fence fiscal regime. Further details of the Proposed Acquisition transaction terms will be provided following the expiry of the pre-emption period. Read More
Centrica and National Gas have successfully completed a landmark trial, marking the first time hydrogen has been blended into the National Transmission System (NTS).
The trial took place last week [on 9 October] and involved National Gas injecting a 2% blend of green hydrogen into the gas grid, before being blended with natural gas to generate power at Centrica’s Brigg Power Station – producing electricity directly into the power grid. This ‘real life’ UK first test shows the end-to-end potential of Hydrogen to decarbonise critical energy infrastructure.
This key milestone means British power stations, particularly those that provide flexible backup electricity when demand is high or renewable generation is low, can successfully accept hydrogen blends into their operating units. The trial proves that blending is both technically and operationally viable, offering a practical solution to support the UK’s mission for Clean Power by 2030. Read More
The amount of installed renewable power is forecast to more than double by 2030 as the sector navigates headwinds in supply chains, grid integration and financing
Renewable sources of electricity generation are continuing to grow strongly around the world, with global capacity expected to more than double by 2030, according to the IEA’s latest medium-term forecast. Led by the rapid rise of solar PV, renewables’ expansion is taking place in a context of supply chain strains, grid integration challenges, financial pressures and policy shifts.
Renewables 2025, the IEA’s main annual report on the sector, sees global renewable power capacity increasing by 4 600 gigawatts (GW) by 2030 – roughly the equivalent of adding China, the European Union and Japan’s total power generation capacity combined.
Solar PV will account for around 80% of the global increase in renewable power capacity over the next five years – driven by low costs and faster permitting timeframes – followed by wind, hydro, bioenergy and geothermal. Geothermal installations are on course to hit historic highs in key markets, including the United States, Japan, Indonesia and a host of emerging and developing economies. Rising grid integration challenges are renewing interest in pumped-storage hydropower, whose growth is expected to be almost 80% faster over the next five years compared with the previous five. Read More
Argentine government announced on Friday that intelligence company, OpenAI has signed a letter of intent to collaborate with Argentine-U.S.-owned company Sur Energy on the construction of a large-scale data center in the Argentine Patagonia.
A presidential press release described the initiative as a “pioneering artificial intelligence infrastructure project” aimed at placing Argentina “at the forefront of the global artificial intelligence ecosystem.”
The project is expected to be capable of “hosting the next generation of AI computing” and reach a capacity of up to 500 MW using renewable energy. On Friday morning, President Javier Milei and Argentine Nuclear Board president Demian Reidel met with OpenAI representatives to announce the launch of Stargate Argentina, an initiative they say is set to bring in investments of up to US$25 billion for the country.
The deal will be structured within the framework of investment program RIGI. The program provides tax breaks, currency exchange perks, and other incentives to groups willing to make investments in foreign currency exceeding US$200 million.
The government is betting that OpenAI’s presence in the country positions Argentina as a hub for technological innovation in Latin America and a base for the development of new AI applications and training of local professionals in high-demand areas. Read More .
Around 50 towns in Ukraine’s Odesa region were left without power on Saturday morning following an overnight Russian drone attack on energy infrastructure, according to regional authorities. Ukrainian private energy firm DTEK reported that power has since been restored to the 240,000 households affected. Regional governor Oleh Kiper said that besides energy infrastructure, two residential buildings and a hotel were damaged. One person, a 47-year-old woman, was injured. Power was also restored to over 800,000 Kyiv residents on Saturday, following a separate attack by Russia on the Ukrainian power grid a day earlier, which caused blackouts across much of the country. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $59.85 | Down |
| Crude Oil (Brent) | USD/bbl | $63.70 | Down |
| Bonny Light 09/10/25 CBN | USD/bbl | $68.99 | — |
| Dubai | USD/bbl | $65.48 | Down |
| Natural Gas | USD/MMBtu | $3.10 | Down |
| Murban | USD/bbl | $65.09 | Down |
| OPEC basket 09/10/25OPEC | USD/bbl | $65.33 | Down |
| At press time October 13, 2025 . |
Hydro Energy Invest AS has entered a transaction to exchange its minority stake in Lithium de France for a minority shareholding in Arverne Group.
Arverne Group, listed on Euronext Paris, is a French provider of geothermal solutions and the largest shareholder in Lithium de France. Hydro acquired a 12 percent stake in Lithium de France in 2023. As part of the transaction, Hydro Energy Invest AS, a wholly owned Hydro entity, transfers its 474,753 Lithium de France shares to Arverne Group. In return, 2,232,288 new Arverne Group shares are issued to Hydro Energy Invest AS, giving Hydro an ownership of 6 percent of Arverne Group’s current voting share capital. Hydro Energy Invest AS is committed to retaining its Arverne Group shares until the earlier of the date of completion of a capital increase by Arverne Group and a period of 18 months from the date of completion of the contribution. Read More
Saab and the Swedish Armed Forces have extended an existing contract and Saab has received an order for support- and maintenance services for Gripen C/D and E. The order value is approximately SEK 4 billion and deliveries will take place 2026 to 2027. The contract also includes options for the Armed Forces to place additional orders for support and maintenance until 2029. The contract includes technical system support, spare parts, repairs, training as well as additional service- and maintenance work required for Gripen’s flight operations.
“This contract extension means that we will continue to ensure a very high availability for Gripen and deliver the support the Swedish Air Force needs to maintain a high level of readiness,” says Lars Tossman, head of Saab’s business area Aeronautics. Read More
Baker Hughes Rig Count: International -3 to 1076, :U.S. -2 to 547 Canada +3 to 193
U.S. Rig Count is down 2 from last week to 547 with oil rigs down 4 to 418, gas rigs up 2 to 120 and miscellaneous rigs unchanged at 9
Canada Rig Count is up 3 from last week to 193, with oil rigs unchanged at 129, gas rigs up 3 to 63 and miscellaneous unchanged at 1.
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 10, 2025 | 547 | -2 |
| Canada | October 10, 2025 | 193 | +3 |
| International | September 2025 | 1084 | +8 |
International Rig Count is down 72 rigs from last year’s count of 1,156, with land rigs down 44, offshore rigs down 28.
The average U.S. Rig Count for September was 542 up 3 from last month count of 538 and down 45 year-over-year.
The average Canada Rig Count for September was 187 up 8 rigs from last month count of 179 and down 30 year-over-year. Baker Hughes
Scientists from MIT have created a conductive “nanonetwork” inside a unique concrete mixture that could enable everyday structures like walls, sidewalks, and bridges to store and release electrical energy. It’s perhaps the most ubiquitous man-made material on Earth by weight, but every square foot of it could, with the addition of some extra materials, power the world that it has grown to cover. Known as e c-cubed (ec3) the electron-conductive carbon concrete is made by adding an ultra-fine paracrystalline form of carbon known as carbon black, with electrolytes and carbon nanoscales. Read More
Swiss firm Panatere has patented, and has now inaugurated, the world’s first two solar foundries for melting down steel for reuse.
Consisting of 500 concave mirrors mounted on a heliostat that allows them to track the Sun, each is focused into furnace’s chamber until it reaches 2,000 degrees Celsius. Heat like this can melt steel in 1.5 hours, all without any fossil fuels being burned. Panatere’s first solar steel bar will be exhibited at the International Watch Museum in La Chaux-de-Fonds, where the foundries operate. 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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