London, November 20, 2025, (Oilandgaspress) –––As of 17 November 2025, all powers of the governing bodies of LUKOIL Neftochim Burgas, LUKOIL Bulgaria and other LUKOIL Group entities in Bulgaria have been transferred to an external administrator. On November 14, 2025, the Republic of Bulgaria adopted a law providing for the introduction of external management at LUKOIL Neftochim Burgas, LUKOIL Bulgaria and other LUKOIL Group entities in Bulgaria. As of November 17, 2025, all powers of the governing bodies of these entities have been transferred to an external administrator.
LUKOIL expects that the external administrator will act in strict compliance with applicable law to ensure the continuity of operations, including maintaining the normal functioning of these entities to supply the Bulgarian market with fuel, pay taxes, and uphold the high standards of social policy towards refinery employees that have been established and maintained by LUKOIL.
For more than 25 years of operations in Bulgaria, the Company has been the country’s largest investor and fuel supplier, a major employer and taxpayer, has engaged constructively with the local community, and has maintained high standards of industrial and environmental safety. Since 1999, its cumulative investments have amounted to more than USD 4.5 billion.
LUKOIL International GmbH, which consolidates LUKOIL Neftochim Burgas, LUKOIL Bulgaria and other LUKOIL Group entities in Bulgaria, has obtained from the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) a General License valid until December 13, 2025 for the purpose of facilitating the sale of LUKOIL’s international assets.
LUKOIL is taking all necessary steps to complete the sale of the refinery, the filling stations network and other assets in Bulgaria to a new owner and expects that the activities of the external administrator will not impede this process.
The Company reserves the right to seek judicial remedies to protect its rights and legitimate interests in the event of their violation. Read More
China is replacing its diesel trucks with electric models faster than expected, potentially reshaping global fuel demand and the future of heavy transport. In 2020, nearly all new trucks in China ran on diesel. By the first half of 2025, battery-powered trucks accounted for 22% of new heavy truck sales, up from 9.2% in the same period in 2024, according to Commercial Vehicle World, a Beijing-based trucking data provider. The British research firm BMI forecasts electric trucks will reach nearly 46% of new sales this year and 60% next year.. Read More
Equinor ASA announced on 23 July 2025 a cash dividend per share of USD 0.37 for second quarter 2025.
The NOK cash dividend per share is based on average USDNOK fixing rate from Norges Bank in the period plus/minus three business days from record date 14 November 2025, in total seven business days. Average Norges Bank fixing rate for this period was 10.0875. Total cash dividend for second quarter 2025 is consequently NOK 3.7324 per share. On 26 November 2025, the cash dividend will be paid to relevant shareholders on Oslo Børs (Oslo Stock Exchange) and to holders of American Depositary Receipts (“ADRs”) on New York Stock Exchange..Read More
Germany’s Environment Ministry plans to support the construction of renewable energy storage facilities and networks abroad with €138 million, Environment Minister Carsten Schneider said on Tuesday .He made the announcement at the United Nations Climate Change Conference (COP30) in Belém, Brazil. Read More
Nissan Australia, a local sales subsidiary of Nissan Motor Corporation, unveiled the all-new Navara on November 19. The model is scheduled to go on sale in Australia and New Zealand at the end of the first quarter of 2026. The Navara has been a trusted partner for both work and travel, with cumulative sales of approximately 500,000 units since the launch of the first-generation model in 1986. The new Navara features a design inspired by Nissan’s pickup heritage, a 2.4-liter turbodiesel engine, advanced driver-assistance systems, and a suspension optimized for driving conditions in Oceania, delivering a comfortable ride and excellent handling across all road surfaces. Read More
Yangwang is one of China’s lesser-known car brands, internationally recognised mainly for setting a recent world speed record for production cars. Now the BYD-owned marque is planning a European launch for its high-end U8 electric SUV, which can even float on water.
Yangwang launched the distinctive petrol-electric U8 in January 2023 in China, with domestic sales starting from September 20. So far, it has only been showcased in Europe, making an appearance at the 2024 Geneva car show. Other features include its ability to float on water for up to 30 minutes and turn on the spot like a tank, thanks to an electric motor at each wheel. Read More
IKEA Spain and the Museo Casa Natal Picasso are launching Homesreset, an initiative that invites young people to imagine what the homes of the future should look like to address the social, demographic, economic, and climate challenges society may face by 2040.
As a starting point, the project begins with an ideas competition open to all young Spaniards aged between 18 and 35. Participants may enter via homesreset.es by submitting a video of up to three minutes, presenting a creative and inspiring proposal for what tomorrow’s homes should be like.
Homesreset is inspired by Pablo Picasso, an artist ahead of his time who surprised the world with his ability to see and interpret reality in new and different ways. With the support of the Museo Casa Natal Picasso, IKEA aims to promote a collective reflection on how to design spaces suited to the society of the future, encouraging us to look beyond the obvious and to challenge conventional ideas of living.
In the second phase of the initiative, the five winners of the ideas competition will take part in a Design Thinking conference to be held in Málaga during the third week of February. During this event, they will work with students from local design schools to develop projects on the home of the future from a range of regional and disciplinary perspectives.
A jury composed of specialists from IKEA, the Museo Casa Natal Picasso, and an independent expert will select the winning proposal, which will be presented at a closing ceremony in Málaga that same week. Each member of the winning group will receive a prize of €2,000.
The complete terms and conditions are available at homesreset.es. Read More
Hyundai has been named the ‘2026 Best SUV Brand’ by U.S. News & World Report. The award recognizes industry-wide excellence in the automotive market and reflects the best combination of quality, safety, reliability, space, convenience, and connectivity. The publication’s editors evaluated 39 automotive brands and concluded that Hyundai SUVs stood out, not only due to the exceptional quality of its Palisade, Palisade Hybrid, Tucson and Tucson Hybrid models, but also on the strength of its diverse SUV lineup including Santa Fe, Santa Fe Hybrid, Kona, Kona Electric, IONIQ 5 EV and IONIQ 9 EV. Earlier this year, U.S. News & World Report named the 2025 Hyundai Tucson its Best Compact SUV for the Money for a third-consecutive year, the 2025 Hyundai IONIQ 5 was awarded Best Electric Vehicle for Families and IONIQ 6 Best EV Car for two straight years – making Hyundai the publication’s most-awarded hybrid and EV brand overall. Read More
The Hyundai Palisade was named the Best Family Vehicle for 2026 by Valnet Autos in their inaugural ‘Buzz Awards.’ The Best Family Car for 2026 prioritizes the comfort of all members of the family, not just the one behind the wheel. The category considers affordability, reliability, and safety, while practicality also weighs heavily in the competition. The 2026 IONIQ 9 was also a contender for this category and the 2026 IONIQ 5 XRT was nominated for Best Off-Road Warrior category. The all-new Palisade is ready to meet the needs of more families than ever before. It’s not just Palisade’s additional space, longer driving range and rugged ability that impresses; its infotainment, convenience, and advanced safety-system upgrades mean that this new model is more capable in every dimension.
Approximately 100 new vehicle models were assessed during the year by Buzz Awards’ writers. The seven vehicles awarded ‘Best of’ are the cars and trucks that move the benchmark for automotive excellence and are Buzz Awards’ top picks for cars to buy in their respective segments heading into 2026. Read More
Hyundai Motor Company presented its blueprint for the future at the 2025 Bloomberg New Economy Forum in Singapore — particularly how its pioneering approach to software-defined manufacturing is driving agility and innovation .
Under the theme ‘Thriving in an Age of Extremes,’ the Forum addresses the reordering of global power, driven by dynamic shifts in geopolitics, technology and supply chain strategies. As a returning participant — Hyundai Motor has attended the Forum since 2018 — the company highlights its role as a key voice in advancing industrial innovation in a multipolar and increasingly complex world. At the Forum’s plenary session, ‘The Great Realignment,’ CEO Muñoz joined leading global experts to explore the forces driving economic, technological and geopolitical transformation. The session addressed critical questions about the restructuring of the global economy amid challenges such as technological acceleration and supply chain realignment Read More
Dolphin Drilling AS announced that Oil India Limited has exercised its option to extend its drilling contract with the deepwater capable semisubmersible rig, Blackford Dolphin. Further to the initial 3 well firm campaign over an estimated 14 month duration disclosed in the company’s press release of 14th March 2024, the rig will now continue operations for an additional 120 days through to 10 May 2026 to complete drilling, testing, and abandonment work at locations East of India. The extended term of the scope of work is based on the same rate and terms as the existing contract.
Dolphin Drilling is pleased to continue its partnership with Oil India Limited and remains committed to delivering safe, efficient and sustainable operations. Read More
Subsea 7 S.A. announced today results of Subsea7 Group (the Group, Subsea7) for the third quarter which ended 30 September 2025.
Highlights
• Third quarter Adjusted EBITDA of $407 million, up 27% on the prior year period, equating to a margin of 22%
• Solid operational and financial performance from both Subsea and Conventional and Renewables, with Adjusted EBITDA margins of 24% and 17%, respectively
• Full year 2025 revenue is expected to be in a range between $6.9 and 7.1 billion while margins are expected to be between 20 and 21%
• Record high, quality backlog of $13.9 billion including $6.0 billion for execution in 2026 and $3.8 billion in 2027
• Based on our firm backlog of contracts for execution in 2026, we expect revenue within a range of $7.0 to 7.4 billion, while our Adjusted EBITDA margin is expected to be approximately 22%
• Strong balance sheet, with net debt including lease liabilities of $505 million, equating to 0.4 times the Adjusted EBITDA generated in the last four quarters Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $59.73 | Down |
| Crude Oil (Brent) | USD/bbl | $63.96 | Down |
| Bonny Light 19/11/25 CBN | USD/bbl | $65.23 | Up |
| Dubai | USD/bbl | $65.20 | Up |
| Natural Gas | USD/MMBtu | $4.54 | Up |
| Murban | USD/bbl | $65.46 | Down |
| OPEC basket 19/11/25OPEC | USD/bbl | $64.65 | Up |
| At press time November 20, 2025 . |
Russian city of Ryazan authorities issued drone strike alerts across the region, raising suspicions that the city’s major oil refinery may have been among the intended targets. The drone danger alert was activated shortly before midnight on November 19, with officials warning residents to stay away from windows, move to safe locations, and remain sheltered until the threat passed. Shortly after 2 a.m., local social media channels began reporting loud blasts, sightings of unidentified drones in the sky and sounds consistent with active air defense systems responding to the threat, News.Az reports, citing foreign media. Read More
Felbermayr is trialling the renewable diesel substitute as a practical ‘bridging’ technology for high-power machinery where electric or hydrogen alternatives are not yet commercially viable. The Austrian operator says early testing shows HVO can deliver up to a 90 per cent reduction in CO2 CO emissions without compromising performance, maintenance schedules or operational reliability.. Read More
Saudi Aramco has made over $30 billion in 17 Memoranda of Understanding (MoUs) and agreements with major companies in the US during a visit to Washington by the Saudi Crown Prince Mohammed bin Salman. These agreements cover a range of activities, including Liquefied Natural Gas (LNG), financial services, advanced materials manufacturing, and procurement of materials and services, the company said on Thursday. In LNG-related MoUs, Aramco signed with MidOcean Energy concerning potential investment in the Lake Charles LNG Project. The company also signed another agreement with Commonwealth LNG covering a liquefaction project in Louisiana and Aramco Trading’s potential purchase of LNG and gas.
In the area of procurement, Aramco concluded contracts and agreements with several US suppliers such as SLB, Baker Hughes, McDermott, Halliburton, NESR, KBR, Flowserve, NOV, Worley, and Fluor.
For advanced materials manufacturing, Aramco extended its MoU with Syensqo to explore the localization of carbon fiber and advanced composites for industrial applications. Read More
The Kremlin has passed a raft of laws addressing vulnerabilities at home as Ukraine continues to prove a lethal and disruptive threat within Russia’s borders. At least 20 regions have started calling up military reservists to help guard key infrastructure under a new law. Energy firms are glad for the extra support, but are tempering their expectations without proper air defences against incoming drones. The new law allows Moscow to call up some two million people without declaring a new mobilisation. But experts doubt Russia still has the manpower available. Read More
Baker Hughes Rig Count: International -25 to 1059, :U.S. +1 to 549 Canada -3 to 188
U.S. Rig Count is up 1 from last week to 549 with oil rigs up 3 to 417, gas rigs down 3 to 125 and miscellaneous rigs up 1 to 7.
Canada Rig Count is down 3 from last week to 188, with oil rigs down 5 to 124, gas rigs up 2 to 64 and miscellaneous unchanged at 0.
International Rig Count is down 25 from last month to 1,059 with land rigs down 8 to 833, offshore rigs down 17 to 226
The Worldwide Rig Count for October was 1,800, down 12 from the 1,812 counted in September 2025, and down 164, from the 1,964 counted in October 2024.
| Region | Period | Rig Count | Change |
| U.S.A | November 14, 2025 | 549 | +1 |
| Canada | November14, 2025 | 188 | -3 |
| International | October 2025 | 1059 | -25 |
| Baker Hughes |
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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