London, June 16, 2025 (Oilandgaspress) –-European stock markets have begun the new week with modest gains, despite the attacks between Iran and Israel continuing.
In London, the FTSE 100 share index is 17 points (+0.2) higher at 8868 points.
Oil companies BP (+1.4%) and Shell (+1.4%) are among the FTSE 100 risers, tracking the rise in crude prices. Mining companies are also higher. Betting firm Entain has jumped 6% after lifting its forecasts for revenues and profits from its US joint venture, BetMGM, this morning.
In Germany, the DAX index gained 0.08%, while France’s CAC has jumped 0.3%. Brent crude oil has risen from below $64/barrel at the end of last month to around $74.50 this morning, which typically leads to higher fuel prices. With the oil price rising again today, as attacks between Israel and Iran continue, economists are warning that the global economy faces an adverse shock, at an already difficult time for growth. Read More
Stellar IP30 Flow Test Result in the Beetaloo Falcon Oil & Gas Ltd. announce that Shenandoah S2-2H ST1 (“SS-2H ST1”) achieved an average 30-day initial production (“IP30”) flow rate of 7.2 million cubic feet per day (“MMcf/d”) over 1,671-metres (5,483-foot) across a 35 stage stimulated length within the Amungee Member B-Shale in the Beetaloo Sub-basin, Northern Territory, Australia, making it the highest IP30 result in the Beetaloo to date.
KBR Awarded Subcontract with Strategic Resources Inc KBR announced today it has won a new subcontract with Strategic Resources Inc (SRI) in support of the U.S. Army Directorate of Prevention, Resilience and Readiness (DPRR) to provide physical and psychological health and resilience services to soldiers and related personnel.
The Master Resilience Training/Training Center Support (MRT/TCS) is a single-award, fixed-firm price contract worth a total of $161 million. The award includes one base year and four option years, with work expected to be performed on Army installations across the U.S., Korea, Japan, and Germany.
Under the terms of the contract, KBR, alongside SRI, will provide Master Resilience Trainers at Army Ready and Resilience (R2) Centers to enhance the well-being and performance of soldiers, their families, Army civilians, Department of Defense (DoD) staff, R2 contractors, related government agencies, and allied forces. KBR will support Army facilities in fostering key personal skills like self-awareness, optimism, and mental agility. This effort aims to boost service members’ cognitive and physical abilities, mitigate psychological issues, and bolster their readiness for deployment.
TotalEnergies partners with PETRONAS in multiple blocks offshore Malaysia TotalEnergies announces the acquisition from PETRONAS of interests in multiple blocks offshore Malaysia and in one block offshore Indonesia, where exploration, appraisal and development programs will be progressed. The licenses, which are all in different maturation stages, cover more than 100,000 km2.
TotalEnergies will notably hold, alongside PETRONAS through its wholly-owned subsidiary Petronas Carigali Sdn Bhd, a 50% operated working interest in Blocks SK301b and SK313, where significant gas discoveries (more than 4 Tcf) were made and are expected to be developed to support gas supply to Malaysia LNG from 2030. TotalEnergies will also hold, alongside PETRONAS, interests in several exploration blocks offshore Malaysia. The transaction is subject to customary conditions, including regulatory approvals.
Following the SapuraOMV’s acquisition in December 2024, this transaction strengthens TotalEnergies’ position in South-East Asia with Malaysia as an anchor point, in partnership with PETRONAS.
Building on the successful and long-standing collaboration between the two companies in the upstream business across several countries, Patrick Pouyanné, Chairman and CEO of TotalEnergies and Tan Sri Tengku Muhammad Taufik, President and Group CEO of PETRONAS, also signed a strategic cooperation agreement to deepen their partnership in exploration and production businesses globally.
Detailed breakdown of public budgets on energy RD&D submitted to the IEA IEA member country public budgets for energy research, development and demonstration (RD&D) increased by 6% in 2023 to an estimated USD 26.5 billion1. This was the fifth consecutive year of increase after five years of decrease. This was the seventh consecutive year of increase.
In 2023, the United States2 spent the most on energy RD&D among IEA member countries, followed by France, Japan, the United Kingdom, Germany and Canada.The data also includes the European Union’s energy RD&D budget under its Horizon 2020 programme and its Innovation Fund, which was larger than that of all but the United States and France in 2023.
Public energy RD&D budget per unit of GDP varied greatly among IEA member countries, ranging from 0.0001 to 1.07 per thousand unit of GDP in 2023. France had the highest level (1.07), followed by Spain (1.00).
Over the past five decades, investment by IEA member countries in energy RD&D has become progressively more diverse. Nuclear power, which accounted for 76% of the total in 1974, declined progressively to reach 21% in 2023. RD&D budgets on fossil fuels, which were at their highest in the 1980s and early 1990s, have declined since 2013 from 14% to 5% in 2023.
Budgets for both energy efficiency and renewables expanded significantly faster during the 1990s and 2000s, from 7% each in 1990 to 23 and 22% respectively in 2010. Since then, the share of energy efficiency has increased to reach 24%, whilst the share of renewables has declined to 14%. Budgets for hydrogen and fuel cells maintained their share at 3% for the period 2012-2018 to increase to 9% in 2023.
Saab and General Atomics develop unmanned airborne early warning solution Saab announces a strategic cooperation with General Atomics Aeronautical Systems relating to the development of an Unmanned Airborne Early Warning (UAEW) solution. The solution will be based on General Atomics Aeronautical Systems’ unmanned aerial system MQ-9B.
The collaboration combines Saab’s renowned expertise in AEW&C systems with General Atomics Aeronautical Systems’ leading unmanned aircraft systems technology. General Atomics Aeronautical Systems will integrate Saab’s AEW sensors with their unmanned MQ-9B-platform. The new capability will deliver persistent surveillance and situational awareness by providing continuous monitoring of designated areas.
“We are bringing our exceptional ability to detect and track challenging objects to customers looking to use MQ-9B to meet their specific needs. This unmanned medium-altitude AEW solution, leveraging core competencies of both companies, has excellent potential to complement our existing AEW&C portfolio and provide customers with yet another cutting-edge capability,” says Carl-Johan Bergholm, head of Saab’s business area Surveillance.
This unmanned medium-range AEW solution complements Saab’s existing portfolio of manned AEW&C systems including GlobalEye. It will provide customers with a wider range of options, such as AEW capability from naval warships, to meet mission needs. The solution can be used stand-alone or in manned-unmanned teaming, leveraging the strengths of each capability.
Oil Prices After Israel Targets Iran’s Nuclear Program
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $72.54 | Down |
| Crude Oil (Brent) | USD/bbl | $73.81 | Down |
| Bonny Light 13/06/25 CBN | USD/bbl | $77.73 | Up |
| Dubai | USD/bbl | $67.41 | — |
| Natural Gas | USD/MMBtu | $3.71 | Up |
| Murban | USD/bbl | $73.58 | Down |
| OPEC basket 13/06/25 | USD/bbl | $73.34 | Up |
Definitive Agreements on Mitsubishi Fuso-Hino Merger On June 10, definitive agreements were concluded for the integration of Mitsubishi Fuso Truck and Bus (Mitsubishi Fuso) and Hino Motors (Hino).
The two commercial vehicle giants signed initial agreements in May 2023, aiming to complete the merger the following year. However, the process was delayed by various factors, including certification issues at Hino.
This integration will strengthen the companies’ technological development and business foundations in areas related to commercial vehicles, such as development, procurement, and production.
As part of the move, a holding company will be established, with Mitsubishi Fuso and Hino as wholly owned subsidiaries. Daimler Truck and Toyota will each hold a 25% stake.Mitsubishi Fuso CEO Karl Deppen will serve as CEO of the holding company, which will be based in Tokyo and begin operations in April 2026. Details such as the new company’s name and management team will be announced before that date.
Iraq Turns To Turkey To Ease Electricity Shortages Turkey is emerging as Iraq’s largest foreign supplier of electricity as Baghdad has turned to its northern neighbor to help replace lost energy supplies from Iran this summer. Iraq’s electricity ministry signed a new “electricity exchange contract” with Turkish trader Alfirin Enerji Ticaret on 4 June to double imports to 600MW. On the same day, the cabinet approved plans to contract 650MW of floating power plant capacity from Turkish firm Karpowership.
In total, this brings ‘Turkish’ supplies up to 1.25GW, equivalent to the 1.2GW capacity interconnectors from Iran. Iranian electricity flows have been suspended since the US banned Iraq from making payments to Tehran in March (MEES, 14 March).
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 |
Luxfer Gas Cylinders showcases its hydrogen innovation G-Stor® Hydrosphere takes centre stage at Hydrogen Energy Association Conference 2025
Innovation, investment and rapid deployment of technologies were called for by senior leaders across the hydrogen sector this week, with Luxfer Gas Cylinders’ transformational transport project, the G-Stor® Hydrosphere, displayed in central London at the Hydrogen Energy Association Conference.
The annual event, this year held at Westminster’s QEII Centre on 5th June, brought together key players from across the hydrogen value chain. It was attended by Paro Konar, Director General for Major Decarbonisation Projects at the Department for Energy Security and Net Zero, with a keynote address from Sarah Jones MP, Minister of State for Industry.
The summit’s theme focused on ‘Invest, Innovate, Implement’, and collectively sector stakeholders called on industry and government to build on real-world momentum to make the UK a global leader in hydrogen.
Driving the debate on boosting hydrogen adoption through efficient transport solutions was Luxfer Gas Cylinders Europe Vice President and General Manager Mark Lawday, alongside Luxfer’s Business Development Manager and Hydrogen Energy Association Executive Member Keith Croysdale.
Mark outlined the challenges faced by operators seeking to use the clean fuel, and the projected demand for clean hydrogen by 2030, estimated at 12 to 18 metric tonnes per year globally based on current pipeline of publicly announced projects.
“The takeaway is that with such increased anticipated volumes of hydrogen production, transporting the gas to where it’s needed – safely, cost effectively and efficiently – is fundamental to the entire ecosystem” said Mark. “And, with the G-Stor® Hydrosphere, Luxfer Gas Cylinders has pioneered a 380 bar solution that advances hydrogen storage capabilities, in a system with significantly fewer cylinders, valves and connections than was previously possible.”
The HEA event offered a platform to bring Luxfer’s iconic G-Stor® Hydrosphere Multiple Element Gas Container – with a significant 1012kg hydrogen capacity – into the heart of London for the first time, from a bespoke new production facility at Luxfer’s Nottingham UK manufacturing facility.
Keith Croysdale added: “It’s hugely exciting to display the G-Stor® Hydrosphere to key stakeholders who are at the forefront of harnessing hydrogen as a pathway to decarbonisation. The ability to transport a larger gas capacities in the UK and Europe brings a whole wealth of benefits for operators. Crucially, for the near term, it will enable scaling of early production, support mobile fuel supply, and futureproof decentralised hydrogen logistics.
“It’s fantastic to see positive and tangible progress made, standing shoulder to shoulder with fellow pioneers in hydrogen, who also have an ambition to capitalise on the expertise and technologies we have in the UK.”
Rimac Automobili presents the latest chapter in its Trailblazers video series Featuring Croatian tennis champion Donna Vekić whose 22-year journey to the pinnacle of women’s tennis mirrors Rimac’s own path from garage startup to hypercar innovator.
Donna Vekić, an Olympic silver medalist, shares parallels with Rimac’s journey; one which had a number of early setbacks as Mate tried to grow the business from his garage into the multi-billon-dollar company it is today. “I’ve been playing tennis for 22 years now and there’s been a lot of ups and downs throughout my career,” she reflects. “But what keeps me going is I have a goal, I have a vision, a dream.”
This philosophy directly parallels Rimac’s approach to developing the Nevera, which began as a dream for Mate, before becoming reality after years of development, eventually setting 23 performance records in a single day, as well as a number of all-electric track records. It is the most successful all-electric hypercar in the world, complete with a number of major global awards to its name.
Central to both the success of both pursuits is what Vekić – a Rimac brand ambassador – describes as being “relentless” – a state of mind essential for victory. “Relentless, for me, is when I reach that mindset during the match and being in the zone when I know I’m winning that match,” she explains. Relentless is also the ‘R’ in the Nevera R, the latest, even more focused evolution of the Nevera that built upon a formula that was already without competition.
“I know I’m at the top of the women’s game but there’s always room for improvement and that’s what keeps me going,” she states. “Me as a person, as an athlete and Rimac as a brand, we share the same values,” Vekić notes.
Setra double-decker coach with exceptional design for Gössi Carreisen Gössi Carreisen is celebrating its 50th anniversary with a new Setra double-decker coach. The S 531 DT bears the handwriting of company founder Xaver Gössi, who died in 2013 and designed the expressive design of the predecessor model. In honour of him, curved contours also adorn the new vehicle – both on the outside and inside, as elements of the elegant creations can also be found on the kitchen unit on the lower deck and in the upper seating area.
The S 531 DT is equipped with 78 seats and two club tables and offers passengers on the upper deck an attractive all-round view of the passing landscapes thanks to a glass roof. The Setra TopClass touring coach is equipped with a large number of the driver assistance and safety systems currently offered by Daimler Buses, including the intelligent Traffic Sign Assist. This compares the current speed of the bus with the permissible vehicle speed and provides a warning if the permitted speed is exceeded. The system works throughout Europe regardless of the different signage.
In addition, the S 531 DT is the first vehicle in the Gössi coach fleet to have the innovative MirrorCam on board, which uses cameras to replace the conventional mirror system.
Gössi Carreisen AG was founded in 1975 by Xaver and Verena Gössi in Horw in the canton of Lucerne. Only four years later, the entrepreneur opted for a coach from the
Neu-Ulm brand. The friendly partnership will continue in the same way in the second generation, with Marco and Karin Gössi.
Bentley Environmental Foundation publishes inaugural Impact Report Bentley Motors has published the first-ever Impact Report from the Bentley Environmental Foundation, marking a significant milestone on the second anniversary of the award-winning initiative. The report details the Foundation’s growing global footprint, delivered in collaboration with ten strategic partners, all united by a shared vision to address some of the most urgent global challenges. Since its inception, the Foundation has supported 18 projects across 14 countries, benefitting over 636,000 people, and delivering 1,622+ targeted activities. The full report is available to read online.
The report showcases the global reach and tangible impact of the Foundation’s work over its first two years. Guided by three strategic pillars: Protect and Regenerate Nature, Enable Changemakers, and Drive Innovative Solutions Towards Decarbonisation, since its inception, the Foundation has supported 18 projects across 14 countries worldwide, benefitting over 636,000 people, and delivering 1,622+ targeted activities. Other key milestones include the planting of 200,000 mangrove trees in Kenya, and the funding of 26 new green spaces across the UK.
This first Impact Report is more than a summary of achievements – it’s a reflection of Bentley’s commitment to environmental stewardship on a global scale and to future generations.
Mercedes-Benz and 24-Autohöfe enter into a strategic partnership for charging along German motorways. With the opening of the Mercedes-Benz High-Power Charging Hub in Wernberg-Köblitz, the first of more than ten planned premium charging parks at the “24-Autohöfe” locations will go online. This marks the launch of Mercedes-Benz’s first strategic location partnership along the German Autobahn.
At the Oberpfälzer Wald motorway junction (A93, A6) at the 24-Autohof Wernberg-Köblitz, electric vehicle drivers of all makes can now fast-charge at six charging points with a capacity of up to 400 kW. A sophisticated design with characteristic brand elements, such as the iconic 3D chrome Mercedes-Benz star, characterizes the high-quality overall appearance. Dynamic status LED light strips and Plug&Charge [1] for all compatible vehicles enable a first-class charging experience at the barrier-free, spacious charging park. A wide range of restaurants and local shops, as well as a high level of service and security, round out the offering. The first truck stop in the company’s 24-year history was built at the Wernberg location 26 years ago. Its elegant, timeless architecture makes it unmistakable to this day. With the opening of the Mercedes-Benz Charging Hub and the announcement of the strategic partnership, new standards are being set in terms of customer convenience, product diversity, and future orientation – all at a location that is a reliable constant for many travelers.
70 Years of the Fiat 600. FIAT is participating in the 2025 edition of the 1000 Miglia to celebrate the 70th anniversary of the iconic Fiat 600 born in 1955. Along the historic 600 with several “Support Cars” – the Fiat 600 Hybrid and the Abarth 600e – FIAT and Abarth reaffirm their roles as custodians of a unique legacy, capable of blending memory and vision, tradition and innovation, on the roads of the most beautiful race in the world.
This edition of the 1000 Miglia holds special significance for FIAT, commemorating the Fiat 600’s pivotal role in Italy. Taking its place on the starting grid of the race will be a rare light-blue 1955 Fiat 600, first series, usually housed in the Centro Storico Fiat in Turin. At the wheel of the 1955 Fiat 600 will be an all-female crew: Laura Confalonieri, Assistant Director of Ruoteclassiche, and Valentina Menassi, journalist and contributor to Il Giornale. Both are experienced journalists and passionate advocates of automotive heritage, perfectly embodying the spirit of this celebration.
FIAT and Abarth will proudly join the historic vehicles with “Support Cars”, as part of its tribute to the legacy of the historic 1955 Fiat 600.
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole , victor@oilandgaspress
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