London, August 25, 2025, (Oilandgaspress) –––TotalEnergies and its partners, Equinor and Shell, announce that the first CO2 volumes were successfully transported by vessel from Heidelberg Materials’ cement factory in Brevik, Norway to Northern Lights’ facilities in Øygarden. They were then injected 2,600 meters below the seabed into the storage facilities, 100 km off the coast of Western Norway.
Northern Lights is the world’s first merchant CO2 transportation and storage project. The first phase of the project has a storage capacity of 1.5 Mt CO2/year, which has been fully booked by customers from Norway and Continental Europe. Final Investment Decision of the second phase was announced in March 2025, which will increase the project capacity to more than 5 Mt CO2/year from 2028.
The development of CO2 transport and storage services is one of the necessary levers for reducing emissions for European industry. Northern Lights has developed a strong customer base in Norway and continental Europe, with already five industrial customers: Hafslund Celsio and Heidelberg Materials in Norway, Yara in the Netherlands, Ørsted in Denmark and Stockholm Exergi in Sweden.. Read More
Hyundai Motor Group’s commitment to leadership and innovation in the global automotive industry has been recognized with two 2025 Automotive News All-Star Awards. Heui Won Yang, President and Head of the Research and Development Division for Hyundai Motor and Kia, and Randy Parker, President and CEO of Hyundai and Genesis Motor North America, were honored for their transformative contributions over the past year.
Yang was named a 2025 Automotive News All-Star in the Product Development category in recognition of his visionary leadership and groundbreaking innovations that have shaped the future of Hyundai and Kia’s global R&D capabilities. As a driving force behind Hyundai Motor Group’s evolution into a world-class mobility innovator, Yang has led major advances in vehicle development, platform engineering, and the use of lightweight materials – particularly for electric and premium vehicles.
Under his leadership, the company developed a next-generation body platform that streamlined production across Hyundai and Kia’s lineups, boosting manufacturing efficiency and performance. His influence is not only evident in recent milestones but has been acknowledged at the highest levels, including the 2024 Silver Tower Order of Industrial Service Merit awarded by the Korea Automobile Manufacturers Association (KAMA) for his contributions to Korea’s automotive industry. Read More
Hyundai N pulled the covers off the all-new IONIQ 6 N for the very first time at the 2025 Goodwood Festival of Speed, the U.K.’s biggest automotive celebration. Packed with a decade of N heritage and a bold vision for the future, the IONIQ 6 N’s world premiere was more than a reveal—it was a statement.. At this year’s Festival, Hyundai N presented the IONIQ 6 N while also celebrating its 10-year history and laying out its vision for the future. Beyond EVs, Hyundai N reaffirmed its promise to keep delivering driving thrills across internal combustion and hybrid platforms as well. That spirit was on full display at every turn. Read More
Saab has today signed a contract with the Swedish Defence Materiel Administration (FMV) and received an order for four Gripen E/F fighter aircraft from FMV for the Kingdom of Thailand. The order value is approximately SEK 5.3 billion and deliveries will take place 2025-2030.
The contract between Saab and FMV includes three Gripen E and one Gripen F aircraft as well as associated equipment, support and training.
Saab has also signed a contract with the Royal Thai Air Force to deliver a long-term offset package to Thailand as part of the fighter acquisition plan. This will include significant transfer of defence technology and industrial cooperation with Thailand together with new investments across many sectors of the national economy.
“We welcome Thailand as the latest customer for Gripen E/F. Thailand is already a well-established Gripen user and familiar with the strengths that Gripen brings to the Royal Thai Armed Forces. Thailand has chosen the most modern fighter on the market with which to build its next generation of strategic, independent capabilities,” says Micael Johansson, President and CEO of Saab.
The Royal Thai Air Force currently operates one squadron of Gripen C/D multi-role fighters. Once in operation, the new Gripen E/F fighters will operate alongside Thailand’s existing Gripen fighter force. Read More
Cenovus Energy has entered into a definitive agreement to acquire MEG Energy in a cash and stock transaction valued at $7.9 billion CAD ($5.7 billion USD), inclusive of assumed debt. The acquisition brings together two leading SAGD oil sands producers with combined oil sands production of over 720,000 bpd, the lowest steam-to-oil ratio and the largest land base in the best quality resource area in the basin.
Under the terms of the agreement, Cenovus will acquire all of the issued and outstanding common shares of MEG for $27.25 per share, which will be paid 75% in cash and 25% in Cenovus common shares. Each MEG shareholder will have the option to elect to receive, for each MEG common share (i) $27.25 in cash; or (ii) 1.325 Cenovus common shares, subject to pro-ration based on a maximum amount of $5.2 billion in cash and a maximum of 84.3 million Cenovus common shares. On a fully pro-rated basis, the consideration per MEG common share represents approximately $20.44 in cash and 0.33125 of a Cenovus common share. Upon completion of the transaction, Cenovus will maintain its strong financial position with liquidity of over $8 billion in undrawn committed credit facilities and cash on hand. The company remains committed to a strong balance sheet and investment grade credit ratings. Pro forma net debt is expected to be approximately $10.8 billion, representing less than one times AFF at strip pricing.
The fully committed term loan and bridge facilities have been provided by Canadian Imperial Bank of Commerce and JP Morgan Chase Bank as Co-Underwriters and Joint Bookrunners. Read More
The Trump administration is withholding approval for several Western oil majors seeking to operate in Venezuela, ramping up pressure on Nicolás Maduro’s government even as Chevron Corp. is allowed to work there, according to people familiar with the matter.
The pause is focused on non-U.S. firms, leaving companies including Spain’s Repsol SA, Italy’s Eni SpA and France’s Maurel & Prom in limbo, said the people, who requested anonymity as the matter is private. It underscores a delicate balancing act in Washington as officials weigh competing geopolitical, financial and energy considerations. Last month, the Treasury Department granted approval for Chevron to resume producing and exporting Venezuelan oil.
President Donald Trump has taken a tough stance against Maduro, but he’s also trying to keep a lid on energy prices, even as he pressures Iran to end its nuclear program and Russia to end the war in Ukraine. Late last month, the Treasury Department imposed its most sweeping sanctions on Tehran in seven years. Read More
.Equinor and partners have struck oil and gas in the Fram area, nine kilometres north of the Troll field in the North Sea.
One exploration well has encountered petroleum in two reservoirs. One of the discoveries consists of both oil and gas, while the other one is just gas. In total, the resources are estimated at between 0.1 and 1.1 million standard cubic metres. The reservoir properties are assessed as moderate to very good. The preliminary name of the discovery is F-South.
“These are discoveries in an interesting area with a well-developed infrastructure. In recent years, we have made several discoveries in the neighbourhood, and we plan to further explore the area. We believe that we may encounter more, both oil and gas,” says Geir Sørtveit, Equinor’s senior vice president for Exploration & Production West on the Norwegian continental shelf.
The licensees will consider tying F-South back to existing or future infrastructure. The licensees are:
Equinor Energy AS: 45%
Vår Energi ASA: 40%
INPEX Idemitsu Norge AS: 15%
The well was drilled by COSL Innovator. Read More
The first CO₂ volumes have now been injected and successfully stored in the reservoir 2.600 meters under the seabed. The world’s first third party CO2 transport and storage facility is now in operation, contributing to reducing European greenhouse gas emissions.
The CO2 is transported via ships from Heidelberg Materials’ cement factory in Brevik. The CO2 is then offloaded and transported through a 100-kilometer pipeline and injected into the Aurora reservoir under the seabed of the North Sea. The Northern Lights Joint Venture is equally owned by Equinor, Shell and TotalEnergies. Equinor, as the Technical Service Provider (TSP), has been responsible for the construction of the Øygarden facility and the offshore facilities on behalf of the Northern Lights JV, and will also have operational responsibility of the CO2 plant. Read More .
Toyota Motor Corporation announced today that it intends to implement changes to its senior professional/senior management employee positions as described below, effective September 1, 2025.Changes to Senior Professional/Senior Management employee positions
Current
Name: Yoji Matsuyama Chief Compliance Officer
General Administration & Human Resources Group (Deputy Chief Officer)
Sustainability Management Div. (Senior General Manager)
New Title:
Chief Compliance Officer
External & Public Affairs Group (Deputy Chief Officer) Read More
Equinor ASA announced on 30 April 2025 a cash dividend per share of USD 0.37 for first 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 19 August 2025, in total seven business days.
Average Norges Bank fixing rate for this period was 10.1999. Total cash dividend for first quarter 2025 of is consequently NOK 3.7740 per share.
On 29 August 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
Odfjell Shares trade ex-dividend USD 0.48 today, August 25, 2025
With reference to the Odfjell SE 2Q25 report of August 19, 2025 and our announcement about dividend information on August 20, 2025. The shares in Odfjell SE will trade ex-dividend of USD 0.48/ NOK 4.93 per share as from today, August 25, 2025. Read More
Ørsted Shares were down by around 16% in Copenhagen on Monday afternoon.
The fall followed an order from the US Bureau of Ocean Energy Management (BOEM), issued to the firm late on Friday, to halt all works on a nearly completed project near the coast of Rhode Island, until further notice. The delay, potentially increasing the costs of the investment, could result in major losses for the company, which had already been on the hunt for funding.
To pay for the Revolution Wind project, Ørsted announced on 11 August that it was going to carry out a rights issue, meaning it would sell additional shares at a discounted price to shareholders, to raise DKK 60bn (€8.04bn).
The uncertainty around the project is now fuelling investor concerns, although share price losses moderated slightly on Monday afternoon. The company said that its financial guidance for 2025 remains unchanged. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $64.54 | Up |
| Crude Oil (Brent) | USD/bbl | $68.51 | Up |
| Bonny Light 19/08/25 CBN | USD/bbl | $69.32 | — |
| Dubai | USD/bbl | $69.35 | — |
| Natural Gas | USD/MMBtu | $2.69 | Down |
| Murban | USD/bbl | $71.40 | Up |
| OPEC basket 22/08/25 | USD/bbl | $70.26 | Up |
Ørsted pushes ahead with $9.4bn rights issue. . Read More
In a company announcement on August 25, Ørsted confirmed it will proceed with preparations for the rights issue and named BNP Paribas, Danske Bank, J.P. Morgan SE, and Morgan Stanley as Joint Global Coordinators, with BofA Securities and Goldman Sachs as Joint Bookrunners. The syndicate will underwrite roughly 49.9% of the offer not covered by Denmark’s state guarantee. An extraordinary general meeting is set for September 5 to finalize mechanics ahead of launch.
CONCEPT AMG GT XX, Mercedes-AMG sets new benchmarks and continues the brand’s decades-long tradition of relentlessly pushing the boundaries of automotive engineering. From historic motorsport triumphs to legendary records on race and test tracks, the performance brand from Affalterbach has always stood for the pursuit of ultimate performance. Mercedes-AMG reaffirmed this commitment just last year with the lap record of the Mercedes‑AMG ONE (energy consumption combined weighted: 47.5 kWh/100 km plus 11 l/100 km | fuel consumption combined discharged battery: 15.8 l/100 km | CO₂ emissions combined weighted: 250 g/km | CO₂ class combined weighted: G | CO₂ class discharged battery: G)[1] on the Nürburgring-Nordschleife. Since October 2022, the hypercar has remained the fastest production vehicle ever on the iconic circuit – having even beaten its own benchmark.
Now, the CONCEPT AMG GT XX builds on this proud legacy and delivers a powerful demonstration of the superior performance of the upcoming high-performance architecture AMG.EA. The technology pioneer is powered by revolutionary drivetrain technologies set to enter production next year with AMG.EA. Featuring three axial-flux motors and a directly cooled high-performance battery, the concept vehicle promises a new dimension of power and endurance. Mercedes-AMG has now proven exactly that under extremely tough conditions – the ultimate test evoking the record runs of the past, powered by the technology of tomorrow.
On the legendary high-speed test track in Nardò, Italy – a site where the world’s fastest cars have been tested for decades – the CONCEPT AMG GT XX broke a total of 25 long-distance records. Among them was the record for the greatest distance ever covered by an electric vehicle within 24 hours. The previous record was under 4,000 kilometers. The CONCEPT AMG GT XX has far surpassed this value: The technology platform traveled 5,479 kilometers in 24 hours – that is 1,518 kilometers more or around 38 percent further than the previous best. But this was just one of many records that the CONCEPT AMG GT XX secured with a commanding lead. The technology pioneer’s extreme test lasted far longer than 24 hours. The goal: to drive “around the world in eight days” – a mission designed to prove the superior long-distance performance of the AMG electric drivetrain. The name of the challenge? A nod to Jules Verne’s famous novel “Around the World in 80 Days”. . Read More
Baker Hughes Rig Count: : International +27 to 913, :U.S. -1 to 538 Canada -3 to 180
U.S. Rig Count is down 1 from last week to 538 with oil rigs down 1 to 411, gas rigs unchanged at 122 and miscellaneous rigs unchanged at 5.
Canada Rig Count is down 3 from last week to 180, with oil rigs down 3 to 123, gas rigs down 1 to 56 and miscellaneous rigs up 1 to 1.
International Rig Count is up 1 from last month to 914 with land rigs down 10 to 720, offshore rigs up 11 to 194.
The Worldwide Rig Count for July was 1,621, up 22 from the 1,600 counted in June 2025, and down 92, from the 1,713 counted in July 2024.
| Region | Period | Rig Count | Change |
| U.S.A | August 22, 2025 | 538 | – 1 |
| Canada | August 22, 2025 | 180 | -3 |
| International | July 2025 | 914 | +1 |
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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