London, July 28, 2025 (Oilandgaspress) –-A House committee has approved a bill that the U.S. withdraw its funding to the International Energy Agency as the Republican lawmakers consider that the IEA has strayed from its mission to safeguard energy security and has been pushing green energy policies instead.
The House Appropriation Committee said in a report this week that the IEA “has strayed from its core mission of ensuring global energy security.”
“The Committee finds that the Agency has abandoned objectivity in the critical energy-supply information it produces and, instead, has pursued politicized information to support climate policy advocacy,” according to the report.
The bill is included in the fiscal year 2026 legislative agenda, but it will need support from at least some Democrats in the Senate.The IEA’s forecast that oil demand will peak this decade is “just total nonsense,” the U.S. official said, adding he has been talking to the IEA’s executive director Fatih Birol. Read More
Mercedes-AMG opens another exciting chapter in its performance history and hints with the CONCEPT AMG GT TRACK SPORT that the GT family is not yet complete. The uncompromising concept vehicle is designed for absolute driving dynamic peak performance to set new standards and record times.
With a first teaser of the CONCEPT AMG GT TRACK SPORT, Mercedes‑AMG now offers an exclusive insight into the development workshop in Affalterbach. Here, the camouflaged high-performance project is being finalized before it has to prove itself on the test tracks. With the new concept vehicle, Mercedes‑AMG demonstrates its great expertise as a sports car manufacturer and provides a preview of a possible expansion of the GT series with a V8 engine. The second generation of the two-door AMG GT was presented in 2023, and since then, the sports car family has been steadily growing. Read More
Xpeng Motors made its debut at the 2025 Indonesia International Auto Show (GIIAS 2025), the largest automotive event in Southeast Asia. At the exhibition, Xpeng Motors officially announced that Indonesia has become the first country in the world for Xpeng Motors to start localized production, and the first Xpeng X9 produced locally in Indonesia has been delivered to an Indonesian car owner. This marks that starting from Indonesia, Xpeng Motors will officially start its global localized production strategy. The first vehicle produced locally overseas was delivered, and the latest innovative achievements were first showcased in ASEAN
At the Xpeng Motors booth, visitors from Indonesia and ASEAN can get up close and personal with a number of Xpeng Motors’ blockbuster products, including the Xpeng X9, Xpeng G6, flying cars, the AI humanoid robot IRON and other innovative technology products, and immersively experience Xpeng Motors’ full-scenario “AI+mobility” ecosystem.
At the auto show, Xpeng Motors officially delivered the first locally produced Xpeng X9 to Indonesian users. This car integrates world-class intelligence and supercomputing capabilities and is the most technologically advanced car ever made in Indonesia. Wu Jiaming, vice president of Xpeng Motors, said in his speech at the show: “We want to work with Indonesia to embrace the future of electrification and intelligent travel.”
He Xiaopeng , Chairman and CEO of Xpeng Motors, said in a video speech: “We hope to respond to market demand more quickly. We hope to bring more interesting and futuristic travel methods to more of you who love technology.”
Qatar has warned it may halt gas exports to the European Union (EU) in response to EU’s issuing of bloc’s due diligence directive law on forced labour and environmental harm, according to a letter sent by Qatar to the Belgian government and reported by Reuters.
In the letter, Qatari Energy Minister Saad al-Kaabi stated that if changes are not made to the EU’s corporate sustainability due diligence directive (CSDDD), which requires larger companies operating in the EU to find and fix human rights and environmental issues in their supply chains, they will find other stable markets for their products.
Kaabi objected particularly on the requirement for companies to have a climate change transition plan aligned with preventing global warming exceeding 1.5 celsius – the goal of the Paris Agreement. He commented that “neither Qatar nor QatarEnergy have any plan to achieve net zero in the near future.”
The engineering genius behind the Bugatti Veyron The starting point for the vehicle, however, was the engineering marvel that would come to propel the Veyron at previously unimaginable speed: its W16 engine. Newly developed from scratch, the W16 was designed with an 8.0-liter displacement, reinforced with four turbochargers and ten radiators to provide sufficient cooling. The result was a powerplant that could seamlessly deliver 1,001 PS at 6,000 rpm, and 1,250 NM of torque between 2,200 and 5,000 rpm – unprecedented numbers that needed an equally momentous achievement in powertrain and drivetrain engineering to harness effectively. In turn, another first was required – a seven-speed, double-clutch DSG gearbox with lightning-fast yet smooth gearchanges that was specifically designed for the Veyron, and able to cope with its power and torque output.
Arranged longitudinally ahead of the W16 engine, the gearbox – just like the powerplant – was designed as a dry sump unit, playing a pivotal role in allowing Bugatti’s engineers to lower the car’s center of gravity. That decision was part of a critical program to set the car up for strong road-holding capability – a characteristic completed by the combination of the immense dynamic tolerances of the fully integrated carbon fiber monocoque, aluminum chassis, and all-wheel drive drivetrain.
Employing a transmission unit integrated behind the front-axle differential, the cutting-edge all-wheel drive system allows perfect distribution of power between the front and rear axles, optimizing balance through challenging twists and turns – while a multi-disc transverse lock on the rear differential ensures peak traction coming out of them.
And yet, Ferdinand Piëch’s vision for the Veyron would be unachievable, without a highly efficient yet beautiful design capable of working in harmony with the forces of air at high speed. At its core, integrated elegantly into the car’s smooth profile, is an adaptive aerodynamics system tested to perfection by then-head of development of Bugatti, Dr. Wolfgang Schreiber. Managed by a variable control system, the adaptive aerodynamics consist of two diffuser flaps ahead of the front wheels, and an integrated wing and spoiler at the rear of the car.
Supporting the Veyron’s unique carbon-ceramic, high-performance braking system, the rear aerofoil also utilizes the high wind resistance experienced at speeds over 200 km/h, becoming a formidable ‘air brake’. In ‘Handling’ configuration, the driver activates the system when a specific level of braking pressure is exceeded between 200 and 375 km/h, with the aerofoil shifting itself to an angle of 113 degrees to the direction of travel in just 0.4 seconds. The ingenious solution not only enhances wind resistance under significant braking, but also generates 300 kilograms of downforce over the rear – reducing the wheel load displacement experienced under rapid deceleration and maintaining the vehicle’s hallmark stability.
Each component of the active aerodynamics set-up thus works together to produce hundreds of kilograms of downforce – but critically, to significantly reduce drag when setting off in the pursuit of the Veyron’s incredible top speed.
In every sense, reaching 400 km/h is a feat unlocked by the hypercar’s intelligent aerodynamics. Achieving this requires a conscious, deliberate decision by the driver and a specific vehicle setup. The Veyron is prepared for this extreme performance through the use of its bespoke ‘Speed Key’ – a secondary key that must be inserted into a cylinder to the left of the driver’s seat before setting off. Turning it, the vehicle hunkers down in a raked stance – its active suspension taking it a mere 65 millimeters above the ground at the front, and 70 millimeters at the back. While simultaneously, the front diffusers remain closed, and the angle of the rear wing arrangement is reduced – all to minimize air resistance.
The Sepia Effect Collector and racer Richard Raimist’s lifelong love affair with Porsche began with a highly unusual 911 T Targa in Sepia Brown. Behind another nondescript garage door in the town of Jupiter, southern Florida, hides half a century of motoring passion. Shelves stacked with racing helmets, trophies, and model cars, walls peppered floor-to-ceiling with vintage signs and sponsorship decals. And at the center of this sprawling shrine to the automobile are no fewer than seven Porsche sports cars. Three in particular stand out because they have one thing in common – despite more than 50 years between their production dates – and that’s the color Sepia Brown. Decades of loyalty to the brand
In this sanctuary, 72-year-old Richard Raimist celebrates his decades-long connection to the brand, which has taken him to legendary racecourses across his home country. But like so many enthusiasts around the world, his Porsche story began in childhood, from the backseat of the family car. Raimist grew up in Los Angeles in the 1960s, where the US Porsche scene had already taken a firm foothold, and the influence of these exotic and curious sports cars was everywhere – or at least that’s how it seemed to Raimist. “When I was young, I was always seeing Porsche go by, whether they were 911, 356, or 914 models,” he recalls. “So my head was always turning!” And thus the desire was born to one day not only look on in amazement, but also get behind the wheel himself.
After graduating from high school in 1971, Raimist decided to stay in the West Coast city and actually do what so many dream of there – he went to Hollywood and worked in the film industry in the field of postproduction. The sector was booming, and just two years later he had saved enough money to fulfill his dream. At just 20 years of age, he purchased a 1973 911 T (original 911) from a dealership in Hollywood; the car was still in transit from Germany to the US. “A Targa in Sepia Brown – it was love at first sight,” explains Raimist. “That was not a popular color at all in LA, and I kinda stood out. But as time has gone on, more and more people seem to get it.” Sepia Brown was available as a special color in the model years 1970 and 1971 and as a series color in the two years after that. A total of 1,283 911 cars were delivered in that color, 477 of them Targa models. One of these is Raimist’s first 911, which he still owns to this day. The Targa has had a profound influence on much of Raimist’s life, both personal and professional.
Gilles Vidal Appointed Head of Design for Stellantis’ European Brands . Stellantis announced today the appointment of Gilles Vidal as the new Head of Design for its European Brands, effective from 1st October, replacing Jean-Pierre Ploué who will leave the Company. In his new role, Vidal will oversee the creative direction and design strategy of Stellantis’ iconic European marques, spanning from city cars to Light Commercial Vehicles.
With a exceptional career of over three decades in automotive design, twenty five of which at Citroën and Peugeot, Gilles Vidal is widely recognized for his talent and ability to blend innovation with brand heritage.
Having started at Citroën in 1996, Vidal was instrumental in shaping some of the most acclaimed vehicle designs of the past decade. He led the design projects for vehicles such as the Peugeot 308, 3008 and 208 – all awarded as European Cars of the Year between 2015 and 2019. So far in his career, Vidal won ten prizes, half of them are European Car of the Year. He returns after five years with Renault Group.
Finally, Gilles Vidal stated: “As I join Stellantis back, I am enthusiastic to return to my roots. In a world where technology and design should walk hand in hand to transform customer experience, I am excited with the challenges and opportunities that lie ahead. I look forward to tackle them by working closely with Jean-Philippe, Ralph and their teams.”
Stellantis and 4screen Enhance In-Car Convenience with Real-Time, Location-Based Mobility Services Stellantis, one of the world’s leading automakers, and 4screen, the pioneering driver interaction platform, today announced a partnership to bring real-time, location-based digital services into Stellantis’ portfolio of iconic vehicle brands. This collaboration will deliver a more convenient, intuitive in-car experience to Stellantis customers across key markets in Europe and North America.
The 4screen platform will be available in select FIAT, Jeep®, and Ram models equipped with Uconnect® 4 or Uconnect® 5 systems. It enables drivers to access nearby services, offers and points of interest directly from the infotainment system. Additional Stellantis brands will follow as the deployment expands.
Driving Value for Customers on the Move
This collaboration introduces a seamless way for drivers to stay informed and make more efficient decisions during their journey, whether they are looking for a quick stop at a restaurant, a nearby convenience store, a gas or charging station, parking, a car wash, or a Stellantis brand dealership.
The platform is designed to prioritize convenience while respecting customer preferences, without distracting from the drive. Points of interest are filtered based on location and context, and drivers can define what types of places are relevant to them on each trip.
The 4screen platform helps drivers discover nearby businesses and services directly on the vehicle’s navigation map. Results are tailored to the driver’s location and needs, with useful information like opening hours, contact details, and amenities – plus instant access to in-car special offers and promotions that can be redeemed on the go.
Non-Intrusive Design. Integrated with Safety in Mind.
Unlike third-party apps, the 4screen service is seamlessly integrated into the vehicle infotainment interface. Relevant content is presented contextually and responsibly, without creating distractions or overwhelming the driver.
Baker Hughes Rig Count: : International +27 to 913, U.S. -2 to 542 Canada +10 to 182
U.S. Rig Count is down 2 from last week to 542 with oil rigs down 7 to 415, gas rigs up 5 to 122 and miscellaneous rigs unchanged at 5.
Canada Rig Count is up 10 from last week to 182, with oil rigs up 8 to 128, gas rigs up 2 to 54 and miscellaneous rigs unchanged at 0.
International Rig Count is up 27 from last month to 913 with land rigs up 31 to 730, offshore rigs down 4 to 183.
The Worldwide Rig Count for June was 1,600, up 24 from the 1,576 counted in May 2025, and down 107, from the 1,707 counted in June 2024.
| Region | Period | Rig Count | Change |
| U.S.A | July 26, 2025 | 542 | -2 |
| Canada | July 26 2025 | 182 | +10 |
| International | June 2025 | 913 | +27 |
Volkswagen Core brand group improves sales levels In the first half of 2025, the Volkswagen, Škoda, SEAT/Cupra and Volkswagen Commercial Vehicles brands significantly improved sales revenue (+5.0%) to about 72.5 billion euros in a challenging market environment. Despite the adverse impact of significantly higher US import tariffs, it was possible to boost the operating result of the Brand Group Core to 3.46 billion euros. Key factors in this solid result are the rejuvenated product range, improved capacity utilization at the plants, reduced factory costs – and therefore the consistent implementation of the agreed restructuring initiatives.Unit sales of the Brand Group Core (including third-party production) rose to 2.53 million (2.49 million vehicles in H1 2024)
Sales revenue of the Brand Group Core improved significantly to 72.5 billion euros (69.1 billion euros in H1 2024)
Compared with the previous year, unit sales grew slightly by 1.3%. Although the Volkswagen brand was able to boost deliveries in the first half (+4.6%), its unit sales were at about the prior-year level as a result of lower third-party production within the Volkswagen Group.
In a tough competitive environment, the sales revenue of the Brand Group Core increased significantly by 5.0%, supported by price increases, an improved product mix and a slight increase in unit sales.
Operating result of Brand Group Core comes in at 3.46 billion euros (3.41 billion euros in H1 2024)
The first effects of the measures taken to improve cost efficiency are becoming apparent. Despite the adverse impact of higher US import tariffs, costs arising in connection with CO2 regulation, restructuring costs and litigation expenditure connected with the diesel issue, it was possible to increase the operating result of the Brand Group.
Operating margin of the Brand Group Core 4,8% (4.9% in H1 2024)
Net cash flow fell by 0.84 billion euros to 1.17 billion euros (2.01 billion euros in H1 2024)
In spite of the challenges faced following a sluggish start to the year, the operating margin almost reached the prior-year level.
Net cash flow was considerably affected by cash outflows in connection with US tariff policies
Bord Gáis Energy strengthens its renewable energy portfolio Last week, BP appointed a new chairman, Albert Manifold, who is likely to be sympathetic to the changes demanded by Elliott when it acquired over 5% of the oil company some time before April, making it the firm’s second biggest shareholder. The day after Manifold’s appointment, BP said it had sold its US onshore wind energy business – a clear signal about its direction. This sale was already in the works, as part of a dramatic move away from renewables announced in February by Auchincloss. On Thursday BP said it was also pulling out of its planned green hydrogen production facility in Australia.
This will be BP’s second abandonment of renewables, after a failed effort to move “beyond petroleum” two decades ago. This may disappoint those who want the oil and gas majors to lead the transition to the post-carbon economy, but building up the renewables industry may be done better by firms that fully believe in it, rather by those constantly balancing green investments against the capital needs of legacy carbon businesses.
Aquila European Renewables plc , the London-listed investment company advised by Aquila Capital Investmentgesellschaft mbH, announced on 19 June 2025 that the Company had completed the Sagres Disposal and provided an update on the three separate sales processes that were being progressed, including with the preferred bidder.
After comprehensive and positive due diligence by, and extensive negotiations with, the preferred bidder resulting in a broadly agreed form share purchase agreement, a revised offer from the preferred bidder has been received. This revised offer has seen the preferred bidder reduce the number of assets they can currently acquire, with their current available funds. The indicated acquisition price has also been further reduced. The revised offer would mean a less material proportion of the portfolio would be sold and is expected to lead to a situation which is potentially prejudicial to the marketability of the balance of the portfolio.
Accordingly, the Board has decided to pause the sales process with the preferred bidder, who is no longer in exclusivity but with whom dialogue remains open, and explore the implications of the above and the alternatives available to AERI.
The revised offer and changes to the transaction perimeter by the preferred bidder were unfortunately received late in the process and had this not occurred the Board would have been minded to proceed on the previously proposed terms.
The Board will provide an update to shareholders on the sales process once the implications and alternatives have been properly explored.
The Company’s Q2 NAV [reflecting the latest power price curves] will be published as expected in early August 2025.
Ian Nolan, Chairman of the Company said:
“The Board is disappointed with this update to shareholders and together with our advisers, recognise the current challenging sales market environment with relatively low levels of liquidity and pressure on forecast power prices. The Board retains its current view on the resilience of the portfolio and its operational performance, as evidenced by the positive due diligence process undertaken to date. Our objective remains to seek a realisation of the portfolio, and we continue to work very hard to deliver on this objective for shareholders.”
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $65.79 | Down |
| Crude Oil (Brent) | USD/bbl | $69.09 | Down |
| Bonny Light 25/07/25 CBN | USD/bbl | $73.36 | Up |
| Dubai | USD/bbl | $70.48 | Up |
| Natural Gas | USD/MMBtu | $3.07 | Down |
| Murban | USD/bbl | $71.36 | Down |
| OPEC basket 25/07/25 | USD/bbl | $70.26 | Down |
BW Energy contracts Deepsea Mira for drilling Kudu appraisal well BW Energy, together with NAMCOR E&P, is pleased to announce that it has contracted the Deepsea Mira semi-submersible rig for the drilling of the Kharas appraisal well on the Kudu licence (PPL003) offshore Namibia in the Orange Basin, scheduled for the second half of 2025.
The agreement is part of a rig-sharing arrangement previously announced by the rig’s operator, Northern Ocean Ltd., with Rhino Resources Ltd. The contract, entered into by BW Kudu Ltd., provides access to an in-country rig and an experienced services team with a strong track record in the Orange Basin, supported by a high level of local content.
BW Energy is the operator of the Kudu production licence (PPL003) with a 95% working interest. NAMCOR E&P, a subsidiary of the national oil company of Namibia, holds the remaining 5% carried interest.
KBR announced it has been awarded a Program Management Consultancy (PMC) services contract by Abu Dhabi Transmission Company PJSC (TAQA Transmission) for Phase 1 of its Nexus Scheme (Power & Water Projects).
KBR will provide PMC services for the Nexus Scheme across the power and water transmission networks in multiple locations in Abu Dhabi. KBR will manage the overall execution of the various EPC packages, including supply management and associated infrastructure development. The initiation of this program is a significant step in TAQA’s efforts to meet rising energy demands in UAE, while prioritizing sustainable and efficient operations.
“We are pleased to support TAQA Transmission on Project Nexus, which is a strategic investment in the innovation and digital transformation of operations and assets to meet rising energy demands sustainably,” said Jay Ibrahim, KBR President, Sustainable Technology Solutions. “KBR is proud to be on the forefront of the energy transition by helping customers address the energy trilemma of security, sustainability and affordability.”
KBR delivers best-in-class clean energy solutions worldwide. Our value-added services are customized to the needs of customers while keeping safety at the core of the operations.
RWE has received confirmation of planning permission for its Byers Gill Solar Farm located near Stockton and Darlington in the UK.
As the capacity of the Project was greater than 50 megawatts (MW) the application was considered under the UK’s Nationally Significant Infrastructure Projects (NSIPs) planning regime. Following submission of the planning application in February 2024, RWE received the final decision from the Secretary of State for Energy Security and Net Zero.
Located between Stockton and Darlington in the North East of England, the 180 MW (AC)(1) solar farm, subject to a successful financial investment decision being taken, would be combined with a 180 MW (AC) battery energy storage system. Co-location enables RWE to store power generated, ready to be released into the grid at a moment’s notice during times of high demand, while further strengthening the UK’s own energy security. Once fully constructed, Byers Gill would be capable of delivering enough low-carbon energy to meet the equivalent annual needs of over 70,000 homes. The project also aims to deliver economic, environmental, and community benefits to the local area, as well as significant biodiversity gains, continued agricultural use of the land, and creation of new local wildlife habitats.
Econowind has received a repeat order from Terntank for the installation of eight VentoFoil units on two additional methanol-ready hybrid tankers. Following the initial order in May 2023 for three newbuilds, this brings the total to five vessels and 20 VentoFoils, with each ship fitted with four 16-meter wind wings.
The first vessel, Tern Vik, was delivered in April 2025 by China Merchants Jinling Shipyard (Yangzhou). The entire series is equipped with Kongsberg’s advanced energy and propulsion management system. Under the K-Sail concept, wind can take the lead when conditions are favorable. Combined with battery packs and dual-fuel engines capable of running on methanol or diesel, the vessels are designed for zero-emission operations and fully aligned with the IMO 2050 targets.
Terntank operates in the Nordic region and focuses on the transport of sustainable fuels. Its newbuilds are among the most environmentally advanced in the market. Wind-Assisted Ship Propulsion is a key element of the design. The VentoFoils are lightweight, foldable for safe and efficient port operations, and fully ATEX-certified to meet tanker safety requirements.
“At Terntank, we are always looking for ways to reduce fuel consumption. It’s part of our DNA,” said Claes Möller, CEO of Terntank. “The installation of the VentoFoils and their integration with the Kongsberg system went seamlessly. It’s great to see that the actual fuel savings match what was predicted. We’re very pleased with the results.”
This repeat order follows strong performance results from the first installations, demonstrating the contribution of Wind-Assisted Ship Propulsion to fuel savings and emission reductions. Terntank’s confidence in VentoFoil technology is also a signal to the broader market that wind propulsion is no longer a future concept, but a working solution available today.
Econowind’s engineering team has worked closely with Terntank and Kongsberg to ensure seamless integration of the VentoFoils into the vessel’s overall energy system. The collaborative approach allows real-time optimisation of power sources, where wind, batteries, and fuel-based engines work together to minimise emissions and maximise efficiency.
Samsung lands $16.5 billion Tesla chip deal The news became public through a regulatory filing by Samsung and was later verified by Elon Musk on his social media platform X.
The agreement officially started on July 26, 2024, and will run until December 31, 2033, according to Samsung’s filing. While the document initially did not name Tesla as the buyer, Musk later confirmed the company’s involvement. He also revealed key details about the project, including a major role for Samsung’s semiconductor facility in Texas.Despite this disclosure, Samsung stated that full details, including the identity of the buyer, would remain confidential until the end of 2033. The company said this was due to a request from the customer “to protect trade secrets,” based on a Korean-language filing translated via Google.
The company also warned investors to remain cautious.
Data released by global auto research company JATO Dynamics on Wednesday shows European vehicle sales fell 4.4 percent year-on-year to 1.25 million units in June. Meanwhile, Chinese vehicles surged 47.5 percent year-on-year to 65,110 units in the region, with a 5.5 percent market share, a new high.
Year-to-date, registrations of Chinese vehicles surged 91 percent year-on-year, nearly doubling their combined market share to 5.1 percent, just below Mercedes-Benz’s 5.2 percent and above Ford’s 3.8 percent, JATO reported.
This growth is driven by major Chinese brands including BYD, Jaecoo, Omoda, Leapmotor, and XPeng.
BYD, which sells around 10 models in the region, registered 70,500 units during the first half, jumping 311 percent year-on-year. In June alone, it registered 15,565 units, entering the top-selling 25 brands and outselling Suzuki, MINI and Jeep.
In June, the BYD Seal U and the Volkswagen Tiguan were the top-selling plug-in hybrid vehicles in Europe.
BYD’s electric vehicle registrations in the European market surpassed Tesla’s for the first time in April. “Although the difference between the two brands’ monthly sales totals may be small, the implications are enormous,” said Felipe Munoz, a global analyst at JATO Dynamics.
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole , victor@oilandgaspress
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