London, June 13, 2025 (Oilandgaspress) –- Oil Prices Set for the Biggest One-Day Gain Since 2022 Israel’s attack on Iran, resulting in at least 80 deaths and assassinating several top-ranking IRGC commanders, have roiled the oil markets as ICE Brent futures posted their largest single-day jump since the Russian invasion of Ukraine in late February 2022. Iranian media reported that upstream and midstream infrastructure was not damaged, including the Kharg island loading facility that oversees 90% of Iran’s crude oil exports, suggesting that Iranian supply will not be curbed anytime soon. Read More
Baker Hughes Announces Dates for Second-quarter Earnings Release and Webcast Baker Hughes (NASDAQ: BKR) will announce the results of the second quarter ending June 30, 2025, via press release at 5 p.m. Eastern Time (4 p.m. Central Time) on Tuesday, July 22, 2025. A webcast to discuss the results will be held Wednesday, July 23, at 9:30 a.m. Eastern Time (8:30 a.m. Central Time).
To access the webcast, listeners should visit the Baker Hughes website at: investors.bakerhughes.com. An archived version will be available on the website following the webcast.
Chairman Toyoda Leads the Automobile Business & Culture Association of Japan At its annual general meeting on June 10, the Automobile Business & Culture Association of Japan (ABAJ) announced that Akio Toyoda would succeed Takeshi Uchiyamada as the group’s chairman.
The ABAJ was established in 1946, soon after the end of World War II, building on the efforts of Kiichiro Toyoda in setting up its predecessor, the Automobile Association. With a 79-year history, this industry-spanning organization was born out of a strong conviction that the automotive sector would drive Japan’s development.
At present, the association is made up of 166 automobile-related organizations and companies. For more on the history and purpose of ABAJ, please see our detailed analysis on Toyota Times Business.
In his inaugural address as the new chairman, Akio Toyoda spoke of creating a culture where every Japanese person can speak proudly of their country’s cars and suggested a slogan to guide these efforts. We share his speech in full.
Badenoch to call for end to windfall tax Tory leader Kemi Badenoch is set to call for an end to the windfall tax on oil and gas companies and the ban on new licences.
The energy profits levy was put in place under the previous Conservative government but extended when Labour entered power.
Designed to fund interventions to bring down household bills, the policy has been criticised by those in the industry.
Speaking at the Scottish Conservative conference in Edinburgh on Friday, Mrs Badenoch is expected to tout the oil and gas sector, accusing the UK Government of “killing” it, claiming “renewing our party and our country means standing up for our oil and gas industry”.
She will add: “When the oil and gas windfall tax, the energy profits levy, was brought in, the oil price was near a historic high, at the exact time as energy bills for the British people were sky-rocketing.
“But there is no longer a windfall to tax. It has long gone. And the longer this regressive tax on one of our most successful industries remains, the more damaging it becomes.
“Labour have extended and increased this tax. They are killing this industry.”
Hyundai IONIQ 9 Named Favorite Plug-In EV By Midwest Automotive Media Association The Hyundai IONIQ 9 has been honored as the Favorite Plug-in EV by the Midwest Automotive Media Association (MAMA) at their recent Spring Rally drive in Elkhart Lake, WI. This designation was awarded to the IONIQ 9 for its remarkable range, advanced interior features, and significant engagement during the media event.
Approximately 80 new vehicle models were assessed during the program, and those receiving ‘Favorites’ accolades are considered candidates for MAMA’s ‘Favorite Vehicle of 2025,’ which will be announced at the 2026 Chicago Auto Show. The MAMA award acknowledges exceptional vehicles across seven key categories, as determined by the votes of over 75 automotive journalists.
Hyundai Motor Group Design Leaders Honored with Automotive News Centennial Awards Hyundai Motor Group (the Group) leading design figures Luc Donckerwolke, President, Chief Design Officer, and Chief Creative Officer, and Peter Schreyer, executive design advisor and brand ambassador, have been recognized with Automotive News Centennial Awards for their outstanding contributions to global automotive design. Legendary designer Giorgetto Giugiaro – responsible for Hyundai Motor’s original Pony and the Pony Coupe concept – was also honored.
Presented during the 2025 Automotive News Europe Congress in Turin, Italy, June 11-12, the Centennial Awards celebrate 100 years of the publication. The awards honor extraordinary individuals whose creativity, innovation, and leadership have made a lasting impact on the global automotive industry.
CDO and CCO Luc Donckerwolke honored for shaping global automotive design
As the Group’s President, Chief Design Officer, and Chief Creative Officer, Donckerwolke oversees design strategy for Hyundai Motor, Kia, and Genesis, and was praised for pushing creative boundaries and championing innovative and engaging design philosophies to differentiate the Hyundai Motor, Kia and Genesis brands.
Under Donckerwolke’s leadership, Hyundai Motor Group’s automotive brands have earned global recognition for vehicles that blend technology, sustainability, and design excellence.
Rimac Technology Powers the Bugatti Tourbillon with Cutting-Edge Battery and Powertrain Tech Rimac Technology, technology supplier,automotive industry, engineered, battery system, e-axles and electronic control,Bugatti Tourbillon hyper sports cars, The Tourbillon represents the culmination of Rimac Technology’s expertise in developing advanced electric powertrains, battery systems, and electronic control units. Working in close collaboration with Bugatti Rimac’s engineering teams, Rimac Technology designed a sophisticated 800V hybrid system that seamlessly integrates with the Tourbillon’s naturally aspirated 8.3-liter V16 engine, delivering an incomparable driving experience – the raw emotive power of a large capacity naturally aspirated engine with the instant power of electric motors. At the heart of this technological masterpiece lies Rimac Technology’s advanced electric powertrain, featuring three high-performance electric motors – two mounted at the front axle and one at the rear. These motors collectively produce 800 horsepower and can spin up to 24,000 rpm, powering an e-axle that boasts one of the highest power densities in the industry. The electric powertrain also features Rimac’s Silicon Carbide inverter technology with accompanying proprietary software ensuring not only high performance but also exceptional efficiency and operational safety. Despite its three motors, battery pack and V16 engine the Tourbillon is both shorter and lighter than its predecessor, which was solely powered by a quad-turbo W16 engine. The entire hybrid system is powered by Rimac Technology’s state-of-the-art 25 kWh battery pack, featuring an innovative T-shaped design that serves as both an energy storage system and a structural component of the vehicle. This 800V battery system incorporates Rimac’s advanced oil-cooling technology and over 1,500 individual cells immersed in oil, managed by the company’s fifth-generation Battery Management System (BMS). The BMS, developed in accordance with ASPICE Level 2 standards and supporting the highest automotive safety standard (ASIL D), ensures optimal performance, longevity, and safety throughout the battery’s lifecycle.
The Tourbillon represents the culmination of Rimac Technology’s expertise in developing advanced electric powertrains, battery systems, and electronic control units. Working in close collaboration with Bugatti Rimac’s engineering teams, Rimac Technology designed a sophisticated 800V hybrid system that seamlessly integrates with the Tourbillon’s naturally aspirated 8.3-liter V16 engine, delivering an incomparable driving experience – the raw emotive power of a large capacity naturally aspirated engine with the instant power of electric motors.
One company offered acreage for CO2 storage Equinor Low Carbon Solution AS has been offered an exploration licence for CO2 storage in the North Sea. The authorities have evaluated the application received following the announcement in March 2025. This is the eighth time acreage has been awarded for CO2 storage pursuant to the CO2 Storage Regulations.
Israel and Iran descend into conflict Israel has launched strikes across Iran overnight on Friday targeting Tehran’s nuclear programme, killing Revolutionary Guard Commander Hossein Salami, Chief of Staff Mohammad Hossein Bagheri, and Emergency Forces Commander Gholam Rashid and other military officials, as well as at least six top nuclear scientists.
In response, the Israel Defence Forces (IDF) said Iran had launched “approximately 100 UAVs towards Israeli territory,” which were successfully neutralised.
Meanwhile, Israeli jets have struck multiple targets in the Iranian cities of Tabriz and Shiraz midday on Friday, according to Iran’s state-run media.
US President Donald Trump has claimed that Iran was given a 60-day ultimatum to reach a nuclear agreement before Israel launched airstrikes on Iranian territory.
The Trump administration has insisted that Washington was not involved in Israel’s military operation.
Oil Prices Soar After Israel Targets Iran’s Nuclear Program
WTI for July delivery gained 4.9% to settle at $68.15 a barrel in New York.
Brent for August settlement rose 4.3% to settle at $69.77 a barrel.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $72.90 | Up |
| Crude Oil (Brent) | USD/bbl | $74.29 | Up |
| Bonny Light 13/06/25 CBN | USD/bbl | $77.73 | Up |
| Dubai | USD/bbl | $67.41 | Up |
| Natural Gas | USD/MMBtu | $3.56 | Down |
| Murban | USD/bbl | $73.72 | Up |
| OPEC basket 12/06/25 | USD/bbl | $69.15 | Up |
Baker Hughes Rig Count: U.S. U.S. -4 to 555 Canada +24 to 138
U.S. Rig Count is down 4 from last week to 555 with oil rigs down 3 to 439, gas rigs down 1 to 113 and miscellaneous rigs unchanged at 3.
Canada Rig Count is up 24 from last week to 138, with oil rigs up 22 to 91, gas rigs up 2 to 47 and miscellaneous rigs unchanged at 0.
| Region | Period | Rig Count | Change |
| U.S.A | 13 June 2025 | 555 | -4 |
| Canada | 13 June 2025 | 138 | +24 |
| International | May 2025 | 886 | -5 |
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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