London, September 01, 2025, (Oilandgaspress) –––Global power demand is expected to rise much faster over the forecast 2025‑2026 period than it did during the past decade. While slower than the 4.4% surge in 2024, growth forecasts of 3.3% for 2025 and 3.7% for 2026 remain among the highest rates observed in the past decade and well above the 2015-2023 average of 2.6%. Despite a slowdown in economic activity, which has weighed on global electricity use so far in 2025, heatwaves continue to add to demand in many regions, as they did in 2024. Rising demand from industry, appliances, growing air conditioning use, the expansion of data centres, and ongoing electrification will remain major drivers of strong global electricity demand growth through 2026. As a result, electricity demand is expected to rise more than twice as fast as total energy demand in 2025 and to continue this trend in 2026. Read More
TotalEnergies (50%, operator), together with its partners QatarEnergy (35%) and the national company SNPC (15%), has been awarded the Nzombo exploration permit in the Republic of the Congo.
The 1,000 square kilometer Nzombo permit is located 100 kilometers off the coast of Pointe-Noire, close to the Moho production facilities operated by TotalEnergies EP Congo. The work program includes the drilling of one exploration well, which is expected to spud before the end of 2025.
This award of a promising Exploration permit, with the material Nzombo prospect, reflects our continued strategy of expanding our Exploration portfolio with high impact prospects, which can be developed leveraging our existing facilities, and confirms our longstanding partnership with the Republic of the Congo, said Kevin McLachlan, Senior Vice-President Exploration at TotalEnergies. Read More
NIO Inc. , a pioneer and a leading company in the global smart electric vehicle market, today announced its August 2025 delivery results.
The Company delivered 31,305 vehicles in August 2025. The deliveries consisted of 10,525 vehicles from the Company’s premium smart electric vehicle brand NIO, 16,434 vehicles from the Company’s family-oriented smart electric vehicle brand ONVO, and 4,346 vehicles from the Company’s small smart high-end electric car brand FIREFLY. Cumulative deliveries reached 838,036 as of August 31, 2025. Read More
Equinor has assessed the proposal put forward by the Board of Directors of Ørsted A/S on 11 August 2025 for a Rights Issue with pre-emptive rights for existing shareholders (the “Rights Issue”). Following dialogue with Ørsted, Equinor has decided to support the proposal to strengthen Ørsted’s balance sheet in response to the current industry challenges. As a long-term industrial shareholder, Equinor intends to participate in the Rights Issue and maintain its 10% ownership share in Ørsted. Ahead of the next annual general meeting, Equinor will also nominate a candidate to Ørsted’s board of directors. Equinor’s support of the Rights Issue reflects confidence in Ørsted’s underlying business, and the competitiveness of offshore wind in the future energy mix, in selected geographies.
In response to the challenges facing offshore wind, the industry will see consolidation and new business models. Equinor believes that a closer industrial and strategic collaboration between Ørsted and Equinor can create value for all shareholders in both companies.
Equinor is following recent developments around the offshore wind industry in the US closely and will remain in dialogue with Ørsted as the situation evolves.
Subject to the final terms of the Rights Issue, Equinor will subscribe for new shares at a consideration of up to DKK 6 billion, or around USD 939 million, based on a USD/DKK exchange rate of 6.39.
Equinor will participate in the Rights Issue within its communicated financial framework and remains committed to delivering competitive capital distribution.
Equinor’s offshore wind portfolio consists of 0.4 GW net installed capacity, and a further 3.0 GW under development. The current focus is on completing the ongoing development projects in North-West Europe and Empire Wind 1 in the US. Read More
Katrin Adt joins Renault Group today, to take over as CEO of Dacia brand, in succession of Denis Le Vot, who is leaving the company. Previously VP at Mercedes, Katrin Adt will also be a member of the Group’s Leadership Team. As part of the new organizational set-up , she reports to Renault Group’s Chief Growth Officer, Fabrice Cambolive. Now recognized as the specialist brand for affordable mobility, DACIA is currently expanding rapidly, notably with the launch of its C-segment SUV, BIGSTER. Read More
Following his appointment on July 31st, Renault Group’s new CEO, François Provost, announces a series of executive moves and organisational updates, effective immediately. Fabrice Cambolive is appointed in a newly created role of Chief Growth Officer, in addition to his role as CEO of Renault brand. He remains a member of the Leadership Team.
In this position, Fabrice Cambolive will oversee both Renault and Dacia brands, ensuring a unified strategic approach and maximizing revenue across markets. This will allow Renault Group to fully leverage the benefits of each brand’s identity and market positioning, while still maintaining a brand-based organization at a National Sales Company (NSC) level.
Fabrice Cambolive will also lead the Group’s international development, with priority markets being identified in India, Latin America and Korea.
He will also be charged with delivering seamless customer experience across digital, marketing, the dealer network, after-sales, Renault Group owned-retail, in close connection with financial services. Philippe Brunet is appointed Chief Technology Officer (CTO), joining the Leadership Team. He will manage engineering for both Renault Group and Ampere. Anthony Plouvier, previously VP Procurement Strategy and Transformation, is appointed Chief Procurement Officer, succeeding François Provost. He also joins the Leadership Team. With 20 years of procurement experience in France, Türkiye and Japan, and missions in cost optimization across Engineering and Manufacturing, he will drive the transformation of procurement, enhancing competitiveness while deepening partnerships with suppliers. Read More
Egypt has signed four agreements with international firms worth more than $340 million to explore oil and gas in the Mediterranean and Nile Delta, the Petroleum Ministry said on Saturday. The deals, signed by the state-owned Egyptian Natural Gas Holding Company (EGAS), provide for the drilling of 10 wells as part of the ministry’s efforts to boost exploration and production. Egypt, once a regional exporter, has increasingly turned to imports to meet rising domestic demand as output declines from aging fields and investment lags in new ones.
Gas production in May was 3,545 million cubic metres, down more than 40% from March 2021, according to the Joint Organisations Data Initiative (JODI). The first deal, with oil giant Shell, is worth $120 million and covers three wells in the Mediterranean’s Merneith offshore area, the ministry said. Read More
The UAE has strengthened its role in driving the global transition to clean energy in 2025, spearheading a wide portfolio of solar energy projects financed and executed by national companies across multiple continents. The UAE’s solar initiatives extend across Asia, Africa, and Europe, reinforcing the country’s leadership in reducing carbon emissions and tackling climate change.
At the start of this year, the UAE signed a tripartite partnership framework with Italy and Albania to develop large-scale renewable energy projects in Albania, focusing on solar photovoltaic, wind, and hybrid solutions, with part of the generated power to be exported to Italy.
Abu Dhabi Future Energy Company (Masdar) has accelerated its international expansion in 2025. Key milestones include:
Spain: Acquisition of a 49.99% stake in four solar plants from Endesa photovoltaic plants with a total capacity of 446 MW, strengthening Masdar’s presence in the Iberian Peninsula.
Indonesia: Masdar and PT PLN (Persero), Indonesia’s state-owned electricity company, have signed two agreements to advance the development of floating solar power projects in Southeast Asia’s largest energy market. Read More
Wood has entered into an agreement to sell its North American Transmission & Distribution engineering business (North America T&D) to Qualus. North America T&D is a provider of comprehensive power infrastructure engineering for substations, transmission, distribution and renewable generation across Canada and the U.S.
Qualus is a pure-play power solutions firm and leader in power infrastructure transformation, with differentiated capabilities across grid modernization, resiliency, security and sustainability.Transaction highlights
Sale of North America T&D to Qualus for a cash consideration of $110 million, subject to customary closing adjustments1
Follows a highly competitive auction process, valuing North America T&D at 14.9 times adjusted EBITDA2,3
Consistent with Wood’s previously announced disposal programme of non-core businesses
Contributes to a total of approximately $275 million of disposal proceeds agreed so far in 20254, ahead of the previously announced $150 million to $200 million targeted for this year
Expected to complete in the third or fourth quarter of 2025
Proceeds will be used by Wood to reduce net debt and retained for general corporate purposes Read More
Sidara and Wood have agreed that the Acquisition is subject to a number of conditions that are highly unusual for a transaction that is subject to the Code. The boards of Sidara and Wood announce the terms of a recommended cash acquisition of the entire issued and to be issued share capital of Wood (the “Acquisition”) for: 30 pence in cash for each Wood Share as part of a holistic solution designed to provide financial stability to Wood, that includes (among other things): (i) Sidara providing a $450 million capital injection to Wood, (ii) Wood having agreed with its lenders an extension of its committed debt facilities to October 2028, and (iii) additional and enhanced liquidity facilities for Wood. Further details are set out below.
Wood Context
Sidara’s vision is for Wood to become its Energy and Materials division. Sidara values the talent in the Wood organisation and intends to retain the Wood brand. In the near term, Sidara’s clear priority is to provide greater stability to Wood, bring financial strength to the business and to invest in Wood’s client relationships. In the longer term, Sidara believes that Wood would provide an attractive platform to drive growth across its enlarged business. Read More
Oil prices have been caught in the crosshairs of fast-changing market dynamics. While new sanctions on Russia and Iran threaten to impact trade flows, weaker economic growth is poised to temper demand. Volatility in oil markets slumped to near all-time lows in July as Brent crude oil futures hovered around $70/bbl. However, the early August OPEC+ supply agreement and the prospects for untenable stock builds later in the year saw Brent crude futures slip to around $67/bbl.
Global oil supply growth has been revised up by 370 kb/d to 2.5 mb/d this year and by 620 kb/d to 1.9 mb/d in 2026, after the eight OPEC+ members subject to voluntary output reductions agreed on 3 August to raise production by another 547 kb/d in September, fully unwinding the 2.2 mb/d cuts agreed to in November 2023 since April. OPEC+ crude and NGLs will now account for 1.1 mb/d of supply growth this year and 890 kb/d in 2026. Despite the significant OPEC+ gains, non-OPEC+ producers will continue to lead growth, adding 1.3 mb/d in 2025 and 1 mb/d in 2026, bolstered by rising output of US NGLs, Canadian crude and US, Brazilian and Guyanese offshore oil. Global oil demand is projected to increase by 680 kb/d in 2025 and 700 kb/d in 2026, to reach 104.4 mb/d. Despite weaker-than-expected demand in China, India and Brazil in recent months, annual growth of 600 kb/d in 2Q25 occurred entirely in the non-OECD. Consumption in the OECD was flat, with Japan at multi-decade lows.
Global oil supply was largely unchanged in July at 105.6 mb/d, with a 230 kb/d fall in OPEC+ output offset by an equal increase in non-OPEC+. Higher OPEC+ targets announced for September help boost global oil supply growth to 2.5 mb/d this year and 1.9 mb/d in 2026, of which non-OPEC+ accounts for 1.3 mb/d and 1 mb/d, respectively.
Global crude runs will approach an all-time high of 85.6 mb/d in August, with 3Q25 annual growth of 1.6 mb/d well ahead of the 1H25 average increase of just 130 kb/d. Throughputs have been raised to 83.6 mb/d (+670 kb/d y-o-y) for 2025 and 84 mb/d (+470 kb/d) next year, reflecting stronger data for the OECD and China as well as robust refining margins, which soared to 15-month highs in July. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $64.71 | Up |
| Crude Oil (Brent) | USD/bbl | $68.21 | Up |
| Bonny Light 27/08/25 CBN | USD/bbl | $69.44 | — |
| Dubai | USD/bbl | $69.38 | — |
| Natural Gas | USD/MMBtu | $2.95 | Down |
| Murban | USD/bbl | $71.28 | Down |
| OPEC basket 29/08/25 | USD/bbl | $70.51 | Up |
Volkswagen Group is showcasing its innovative strength and bringing cutting-edge technology to the stage at the IAA Mobility in Munich. Over six days – from 7 to 12 September – the Group will present the full range of its technological innovations at the IAA Summit exhibition stand (hall B1). With world premieres, leading technological innovations and intelligent mobility concepts, the Group and its brands are providing strong impetus for the future of mobility in Munich. The Volkswagen Group delivers – and makes new technologies accessible to a wide audience, from electric and hybrid drives and range extender concepts to highly automated and autonomous driving with AI support and new mobility concepts. All this is enabled by the consistent use of state-of-the-art AI technologies and development methods, underscoring that the Volkswagen Group is picking up speed on its way to becoming the Global Automotive Tech Driver. The numerous technology and product presentations at the Group’s stand will be complemented by inspiring keynotes and panel discussions with high-profile guests from business and politics, such as Germany´s Federal Minister of Transport, Patrick Schnieder. Read More .
Baker Hughes Rig Count: : International +27 to 913, :U.S. -2 to 536 Canada -5 to 175
U.S. Rig Count is down 2 from last week to 536 with oil rigs down 1 to 412, gas rigs down 3 to 119 and miscellaneous rigs unchanged at 5.
Canada Rig Count is down 5 from last week to 175, with oil rigs down 3 to 120, gas rigs down 1 to 55 and miscellaneous rigs down 1 to 0.
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 29, 2025 | 536 | – 2 |
| Canada | August 29, 2025 | 175 | -5 |
| International | July 2025 | 914 | +1 |
| Baker Hughes |
Daimler Truck AG in cooperation with its partner Y-Engineering Company Ltd. announced the launch of two Mercedes-Benz heavy-duty transporter model series in Japan. The heavy-duty transporter Mercedes-Benz Arocs and Mercedes-Benz Actros are now available to order. At market launch, the Mercedes-Benz Arocs in the 4763 8×6 variant will be featured at the Japan Mobility Show (“JMS”) 2025 from October 29th to November 9th in Tokyo.
The Mercedes-Benz Trucks heavy-duty transporter models are designed for logistics of extremely heavy loads and special cargo, such as wind turbines, generators, transformers, heat exchangers, or equipment for infrastructure projects. The Mercedes-Benz Arocs 4763 8×6 is equipped with the OM 473 15.6L engine delivering 625 hp (3,000 Nm) and a 16-speed PowerShift 3 Advanced transmission. The truck is fitted with an additional cooling unit and a fifth-wheel coupling mounted on a special plate. In this configuration, the vehicle can tow up to 500 tons.
The vehicle height has also been specially adapted for the Japanese market. As Japan sets a maximum height of 3.8 meters, Mercedes-Benz Trucks has, for the first time, developed a combination of the ClassicSpace 2.3 cab with a compact auxiliary cooling tower on a chassis with a fourth axle.
The vehicle includes all current Mercedes-Benz Trucks safety assistance systems. Attention Assist, Active Brake Assist 6 (ABA6), lane keeping assistant ASGA2, and Front Guard Assist are all standard equipment.
The vehicle exhibited at JMS from the end of October is painted in the colors of the Japanese flag—white with red accents. Both Mercedes-Benz Trucks heavy-duty transporter series feature the PowerShift 3 Advanced transmission with Turbo Retarder Clutch, combining extremely long service life, outstanding efficiency and precise gear changes with exceptionally strong braking performance. When starting, drive power is initially transmitted fully hydraulically until the engine and transmission speeds are nearly synchronized, at which point the friction clutch engages. During operation, the PowerShift 3 Advanced transmission delivers the efficiency of a fully automatic transmission with up to 40 percent faster and more precise gear shifts. The “Heavy” driving program ensures optimal gear selection. During braking, the powerful primary retarder combined with the high-performance engine brake of the OM 473 provides up to 980 hp of braking power at low speeds – even when reversing. Read More
The Norwegian Offshore Directorate has launched a new dashboard that offers easy access to statistics on exploration wells and technical discovery rates. Exploration wells statistics
«The new visualisation makes the data easy to use, and the dashboard allows users to explore the progress of exploration activity and identify trends over time,» says Nadine Mader-Kayser, Assistant Director of Analysis at the Norwegian Offshore Directorate.
This is the second dashboard made available on sodir.no. A dashboard presenting key figures from the NCS was published earlier this year:
A more comprehensive analysis of exploration trends based on the statistics presented in the dashboard is available in the 2024 Resource Report, which highlights how exploration activity has evolved and its significance for the resource base on the shelf: Remaining Resources – Norwegian Offshore Directorate. Did you know that exploration has proven to be profitable all across the NCS over the past ten years? (2024 Resource Report – Drivers, Challenges and Opportunities) Read More
UK Government has outlined a new framework for its GGR (Greenhouse Gas Removal) Business Model, which will operate use a Contract for Difference (CfD) mechanism to attract private investment by ensuring revenue stability for negative emissions projects. These long-term contracts, similar to those that boosted renewable energy development, would guarantee developers a fixed “strike price” per tonne of carbon removed.
A central component of this new model is adherence to the newly developed GGR Standard, which ensures that GGR credits are measurable, verifiable, and environmentally credible. Projects will also be required to support domestic supply chains and job creation.
The scheme aims to accelerate market growth, achieve value-for-money for the taxpayer, and bring technologies down the cost curve by allocating risk between government and industry whilst harnessing carbon markets to mobilise private finance, including the international voluntary carbon market. These measures will be essential to a cost-effective net zero transition. Read More
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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