London, June 30, 2025 , (Oilandgaspress) ––– The Baker Hughes Rig Counts are an important business barometer for the drilling industry and its suppliers. When drilling rigs are active they consume products and services produced by the oil service industry. The active rig count acts as a leading indicator of demand for products used in drilling, completing, producing and processing hydrocarbons.
U.S. Rig Count is down 7 from last week to 547 with oil rigs down 6 to 432, gas rigs down 2 to 109 and miscellaneous rigs up 1 to 6.
Canada Rig Count is up 1 from last week to 140, with oil rigs up 1 to 94, gas rigs unchanged at 46 and miscellaneous rigs unchanged at 0.
| Region | Period | Rig Count | Change |
| U.S.A | June 27, 2025 | 547 | -7 |
| Canada | June 27, 2025 | 140 | +1 |
| International | May 2025 | 886 | -5 |
Elon Musk has fired one of his top lieutenants at Tesla after the billionaire’s White House antics cratered the EV firm’s profits and stock price.
The Tesla chief sacked the company’s head of operations in North America and Europe, Omead Afshar, as profits in the two continents struggled. His departure, first reported by Forbes, came days before Tesla’s second quarter earnings
Xiaomi’s shares hit a record high after the Beijing-based smartphone maker sold 200,000 YU7 sport utility electric vehicle on Thursday in three minutes threatening the positions of BYD, Tesla and other carmakers competing in China’s cut-throat market.
The Chinese group’s Hong Kong-listed shares rose 8 per cent after the market opened on Friday to an all-time high of HK$61.45 (US$7.83) before paring gains to trade up 3 per cent.
Azimut and Eni Next partner for energy innovation Eni Next and Azimut Group signed a collaboration agreement, under which Azimut will launch a new European Long Term Investment Fund (ELTIF) of venture capital, leveraging also Eni Next’s consulting and expertise on technological developments in the energy sector. The launch of the ELTIF is expected in September 2025 and the fund will support investments in the energy tech sector.
With a fundraising target of €100 million, the Luxembourg-domiciled fund – currently pending authorization from the relevant authorities – will be accessible to a wide range of investors, both institutional and private, in accordance with the criteria established by the new ELTIF 2.0 Regulation. The portfolio will consist of U.S.-based startup and scale-ups in the so-called “clean tech” sector, with a focus on decarbonization, energy efficiency, sustainable mobility and the circular economy. In addition, the fund may also invest in companies based in Europe and other international markets.
The collaboration combines the financial experience of Azimut in private markets with the technological and industrial capabilities of Eni Next, a company consistently at the forefront of promoting innovative energy solutions.
Appointing Eni Next as one of the fund’s advisors gives the initiative a unique advantage in the selection of technologies and high-impact start-ups, due to the company’s direct engagement with innovation frontiers and its international presence across various segments of the energy industry. Azimut, in turn, brings its proven track record in managing and structuring alternative products and cross-border distribution.
Mitsubishi Fuso-Hino Merger: 4 Firms Collaborate for the Future of Commercial Vehicles On June 10, Mitsubishi Fuso Truck and Bus (Mitsubishi Fuso) and Hino Motors (Hino) concluded definitive agreements for integration.
As part of the initiative, a holding company will be established with Mitsubishi Fuso and Hino as wholly owned subsidiaries, which is slated to commence operations in April 2026 with investment from Daimler Truck and Toyota as well. The four firms agreed to collaborate based on a shared desire to create the future of commercial vehicles and will work together to address issues involving commercial vehicles, such as carbon neutrality and logistics efficiency.
Mitsubishi Fuso CEO Karl Deppen, who is slated to serve as the CEO of the new company, described it as a “daunting responsibility”. A new step forward by the four firms toward the future of commercial vehicles. During the Q&A session at the end of the press conference, Yuta Tomikawa raised his hand to ask the following question.
“You said that the use of hydrogen in mobility must be accelerated to build the future of commercial vehicles, but the fact is that hydrogen infrastructure remains insufficient. Is there anything that collaboration between these four companies can do to address this issue?”
A2A and bp sign 17-year LNG supply agreement A2A and bp have signed a sale and purchase agreement (SPA) for liquefied natural gas (LNG), under which A2A will purchase up to 10 LNG cargoes (equivalent to approximately 1 billion cubic meters of natural gas) per year from 2027 to 2044.
“The geopolitical instability that has long characterized the global scenario has highlighted the need to consolidate Italy’s energy supply system, which is still highly dependent on foreign sources via pipeline,” – comments Renato Mazzoncini, CEO of A2A – “In the coming years, gas will continue to play a significant role in the security of the national system, balancing the intermittency of renewables through thermoelectric production, which is increasingly efficient thanks to next-generation combined cycle plants with efficiencies above 60%.
With the signing of this important agreement, we have chosen to diversify the supply mix, benefiting from greater stability and predictability of prices in the medium-to-long term. As the second largest operator in Italy, we aim to meet the energy demand of end customers and contribute to the security and stability of the country, businesses, and citizens.”
Jerome Milongo, VP global LNG trading & origination at bp, said “At bp, we see LNG as an essential part of the energy transition. We are pleased to conclude this LNG sale and purchase agreement with A2A and appreciate the trust that A2A has placed in us to help them further develop their LNG portfolio. Europe is a significant LNG market and this agreement with A2A expands our existing supply arrangements to the region and will strengthen long-term security of supply in Italy.”
The volume will be supplied to A2A on both a delivered ex-ship (DES) and a free on board (FOB) basis. Under the terms of the agreement, bp will provide A2A with LNG from its diverse, global portfolio. LNG will be received and re-gasified at the OLT Offshore LNG Toscana terminal in Livorno, Italy, where A2A has secured multi-year regasification capacity through an auction, as well as other terminals in Europe. The contracted LNG supply will meet around 20% of A2A Group’s demand.
For A2A, the agreement is aligned with the decarbonization targets outlined in A2A’s Industrial Plan for 2035, which aims for a 65% reduction in Scope 1 and 2 emissions factor through the increase in renewable energy capacity, set to reach 5.7 GW, and the electrification of final energy consumption. Gas deliveries will begin in the last quarter of 2027, with a reduction in volumes starting from 2042.
Alongside the LNG SPA, the two companies will work together to enable A2A to optimize shipping capacity for a portion of the volume. During the final years of the agreement, A2A expects lower domestic gas consumption, meaning part of the supply may be redirected to other markets.
Further information:
bp press office London | bppress@bp.com
Oil discovery in the Johan Castberg area Equinor has struck oil in exploration well 7720/7-DD-1H, Drivis Tubåen, on the Johan Castberg field in the Barents Sea. The well was drilled in the Drivis structure on the Johan Castberg field in the Barents Sea. According to preliminary estimates the size of the discovery is 9-15 million barrels of oil. The oil was proven in a new segment called the Tubåen formation 1769 metres below the seabed in 345 metres of water. The well was drilled by the Transocean Enabler drilling rig as an exploratory extension from a production well. The licensees will consider tie-in of the discovery to the Johan Castberg field.
The Barents Sea is the least explored ocean area on the Norwegian continental shelf. With the Johan Castberg’s production facilities in place, it becomes more attractive to explore the neighbouring areas. Going forward, two rigs will drill both production wells and new exploration wells in the areas around Johan Castberg and Goliat. Equinor will drill one to two exploration wells annually around Johan Castberg.
BYD. Emerging from the virtually unknown in 2023,, in less than two years it’s become the Chinese electric car maker everyone can name, and the biggest EV manufacturer in the world. In doing so, it has toppled Elon Musk off the highest step of the podium, earning the moniker the ‘Tesla killer’ . As of March 2025, BYD’s sold 11.6 million EVs to date. Tesla on the other hand has sold 7.5 million EVs. China’s Geely, the owner of Volvo, Polestar and Lotus, is the third biggest EV manufacturer in the world, and yet has just 1.4 million EVs comparatively.
It seems then that BYD is the largest ‘overnight success’ perhaps in the automotive industry ever. After all, it hasn’t just put itself on the map, it’s hauled Chinese cars into the mainstream. But, as Steve Jobs once famously said; ‘If you really look closely, most overnight successes took a long time.’ So, how has BYD done it? How did it go from battery maker to the biggest EV brand in the world? What’s the secret behind its so called overnight success? And how is it plotting to takeover the UK?
Tariff strategy could drive small EV adoption In 2024, the US and the European Commission both raised tariffs on electric vehicles (EVs), which could slow adoption. To counteract those concerns, new research from academics across 4 countries urges policymakers to adjust EV import tariffs based on vehicle size to accelerate global clean transport adoption.. Tailoring tariffs on electric vehicles (EV) according to vehicle segment may help reduce the effect these levies are having on adoption of smaller EVs in key markets around the world and thus boost the transition to cleaner transport, says a new article in the journal Nature Energy co-authored by David Reiner, Professor of Technology Policy at Cambridge Judge Business School.
“Despite the complexities of tariff setting, we argue that there is huge potential for nuance” to help alleviate the effect tariffs have on EV sales through “recognising the complexity of EV products themselves”, says the journal article by academics in China, the Netherlands, the UK and the US.
Adds co-author David Reiner: “Higher tariffs will discourage adoption among those least able to afford EVs, who are already the ones least inclined to take up EVs.”
Smaller vehicles are 55% of the global market but electric penetration lags
Slowing uptake of EVs in some important global markets such as the EU and US is notably due to weak market penetration rates in mini, small and compact vehicles, the authors say. Such smaller vehicles in 2024 accounted for nearly 55% of the global auto market but less than 16% of EV sales, compared to an average EV penetration of 24% across all vehicle segments.
In China, by contrast, where there has been widespread adoption of lithium iron phosphate batteries, which are far less expensive than lithium nickel–cobalt–manganese oxide cells, EV penetration in smaller vehicle segments reached 38% in 2024.
How an overlooked pillar in tariff policy can help electric vehicle expansion
“A vehicle segment-differentiated tariff policy, for example in the form of exemptions or reduced tariffs for smaller vehicles, may be needed to maintain growth in these critical market segments,” the article concludes.
“Addressing this overlooked pillar in tariff decision making could help alleviate some of the challenges tariffs pose to EV market expansion, particularly in key global markets. While there is no simple solution to the broader challenges tariffs pose – especially to the global low-carbon transition – segment-based tariff distinctions offer a targeted approach that could support and accelerate the transition to cleaner transport worldwide.”
Hyundai Finishes Second Among Mass-Market Brands Hyundai ranked second among mass-market brands and third overall in the industry for the second consecutive year in the J.D. Power 2025 U.S. Initial Quality Study (IQS)℠. For vehicles, the Hyundai Santa Cruz was the highest-ranked Midsize Pickup for the second year in a row. This recognition reinforces Santa Cruz’s reputation for bold design, everyday versatility, and exceptional quality. Additionally, the Sonata finished second and the Elantra and Palisade each secured third place in their respective segments. Hyundai’s rise to second among mass-market brands in the J.D. Power 2025 IQS reflects our entire Hyundai Motor Group team applying relentless collaboration and focus on quality,” said Barry Ratzlaff, chief customer officer, Hyundai Motor North America. “Santa Cruz leading the midsize pickup segment for the second year in a row is no coincidence; this vehicle was designed to be different, and thanks to the dedication of our teams, it’s not just turning heads, it’s delivering where it matters most: quality, and driver confidence. IONIQ 5 improved significantly with key updates and the launch from the new metaplant in Georgia. The New Santa Fe from HMMA launched with a better score than the prior generation. Recognition for Sonata, Elantra, and Palisade further reinforces the strength and consistency of our entire lineup.”
Underneath its distinctive styling, the Santa Cruz delivers refined driving dynamics, clever storage solutions, and an interior packed with technology. These features make it equally at home on city streets and backcountry roads. With a robust powertrain, standard safety features, and intuitive connectivity, it offers the versatility of a pickup with the polish of a crossover.
FUSO eCanter in use at logistics service provider Gebrüder Weiss in Croatia Two all-electric FUSO eCanter trucks are now joining the Croatian fleet of Gebrüder Weiss, a global logistics provider headquartered in Austria. The two 8.55-ton trucks with a wheelbase of 4750 mm are equipped with 129 kW electric motors and an L-battery pack that enables ranges of up to 200 km between charges. The vehicles will be used for last-mile deliveries to the recipient’s doorstep in the greater Zagreb area (Croatia).
The FUSO eCanter in this version is characterized by compact exterior dimensions combined with excellent maneuverability and a large load volume. This makes it ideal for urban distribution transport. The vehicles have a Standard-Cabin with a digital instrument cluster and a 7-inch multimedia display with touchscreen. Automatic air conditioning, a heated steering wheel, and a heated windshield ensure comfort in both summer and winter. The vehicles are equipped with LED lights at the front and rear. Both eCanter vehicles feature Lane-Assist, Active Brake Assist 6 (ABA 6), the Blind Spot Information System (BSIS), and a rear view camera. The eCanter has a thin-walled box body with a Dhollandia loading ramp and a load capacity of 1,500 kg.
New Head of Production and Site at Mercedes-Benz plant in Düsseldorf Claudia Malkus, currently Director of the “Business Division Battery Production” and Head of “Strategy and Performance Management”, will take over as Head of Production and Site of the Mercedes‑Benz plant in Düsseldorf on October 1, 2025. She will thus succeed Michael Hellmann, who will leave the company to take on new challenges.
„I would like to thank Michael Hellmann for his excellent cooperation and his commitment to the Mercedes‑Benz star over the past 37 years. He has always led his team with confidence, regardless of the challenges, and kept the plant on course even in turbulent times. We wish him all the best for his future endeavors. With Claudia Malkus, we gain an excellent successor. Due to her extensive knowledge and global experience in manufacturing roles such as body shop, paint shop and in powertrain, I am confident that she will lead the Düsseldorf plant into a successful future.”
Francesco Ciancia, Head of Mercedes-Benz Vans Global Operations
Claudia Malkus began her professional career at Mercedes-Benz in 2012 in Hamburg as a planning engineer for light weight construction technologies. After various positions in the powertrain division, she transitioned to the Mercedes-Benz Compact Cars division in 2018, and among other things, led production in the body shop and paint shop at the Mercedes-Benz passenger car plant in Aguascalientes in Mexico. In 2023, she returned to Stuttgart to take over the management of the battery production network in Europe, including the battery recycling plant in Kuppenheim. Since January of this year, she has also been responsible for “Strategy and Performance Management” in the Mercedes‑Benz Cars production network. As Head of Production and Site of the Mercedes‑Benz Düsseldorf plant, Claudia Malkus will be responsible for the operational management of the Sprinter plant. In her new role, she will drive further development at the site and ensure the smooth start of vehicle production based on the new Mercedes‑Benz Van Architecture.
A Porsche collection in Moonstone Moonstone is one of the rarest paint colors in Porsche history. Fascinated by this shade of lilac, US American collector Justin Roeser has been tracking down cars in this color around the world for years. Porsche accompanies him on his journey in search of the origin story. With a past shrouded in mystery, this polarizing color often changes its appearance and even goes by different names. And it shows up just about every day in the dreams of Porsche collector Justin Roeser of San Antonio in the US state of Texas. The color that has fired Roeser’s imagination for many years is lilac, referred to as Moonstone in the Porsche world.
Applied only to 223 cars in the 911 (G-Series), 924, and 928 model ranges worldwide in 1979 and 1980, Moonstone is one of the rarest colors to grace the exterior of a Porsche. What makes it so mysterious is that it can appear white, purple, or pink depending on the lighting and weather.
Saab receives order for Combat Training Centre from Denmark Saab has received an order for its Combat Training Centre from the Danish Defence Acquisition and Logistics Organisation. The order value is SEK 680 million and deliveries will take place 2025-2027.
The order includes a comprehensive package of soldier and vehicle training systems, anti-tank and sniper training weapons, as well as communication systems and exercise control software (EXCON) which is used for after-action review. Saab will also provide training support in Denmark at four designated sites.
“With this delivery, Denmark will have one of the most modern and flexible Combat Training Centres in Europe tailored for the demands of today and tomorrow. We are excited to be part of building that future,” says Joakim Alhbin, head of Saab’s business unit Training and Simulation.
The Combat Training Centre is a part of Saab’s world leading live training offer and includes a complete package for military training.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $65.52 | Up |
| Crude Oil (Brent) | USD/bbl | $67.88 | Up |
| Bonny Light 23/06/25 CBN | USD/bbl | $80.92 | — |
| Dubai | USD/bbl | $65.56 | Down |
| Natural Gas | USD/MMBtu | $3.63 | Up |
| Murban | USD/bbl | $69.37 | Up |
| OPEC basket 27/06/25 | USD/bbl | $68.35 | Down |
US consumers feel more pressure US consumer spending has dropped 0.2 percentage points since the start of the year as households worry about tariff-induced price hikes, the outlook for the jobs market while experiencing big swings in their wealth. Inflation fears surrounding tariffs is likely to keep the Fed on hold for now, but the case for rate cuts is building.In terms of the outlook, consumer confidence is weak. Households are anxious about what tariffinduced price hikes will do to their spending power, while concerns about the robustness of the jobs market are on the rise. The volatility in household wealth has also been significant. Equity markets have recovered and are at all-time highs, but house prices nationally are starting to come under downward pressure thanks to rising inventory of properties for sale. Housing is where the bulk of middle America’s wealth is stored. Even if the One Big Beautiful Bill is delivered the bulk of the tax cuts are merely an extension of the 2017 Tax Cuts and Jobs Act, meaning there is little new fiscal impetus to support household incomes.
Lloyd’s Register in collaboration with DAI Infrastruktur for green ammonia Project Lloyd’s Register (LR) has entered into a memorandum of understanding (MOU) with German developer DAI Infrastruktur GmbH (DAI) for Project Ra, a large-scale green ammonia production and bunkering development at East Port Said, Egypt.
The appointment comes as shipowners move to secure access to alternative marine fuels in response to the International Maritime Organization’s (IMO) greenhouse gas reduction measures adopted at MEPC 83. These measures will require the use of low- and zero-carbon fuels from 2030 onwards and introduce carbon pricing mechanisms that will raise the cost of fossil fuel use across the sector.
Project Ra is expected to have a production capacity of up to two million tonnes of green ammonia annually (mtpa). Ra is expected to produce 1.65 million tonnes of green ammonia solely from renewable energy sources. Production is scheduled to start in 2029. The facility’s location, next to the Suez Canal, offers a critical bunkering hub for ammonia-fuelled vessels navigating one of the world’s busiest shipping routes.
Under the agreement, LR will deliver a broad range of advisory services throughout the project lifecycle. These include demand-side pricing analyses, infrastructure planning, asset integrity and risk assessments, regulatory guidance, lifecycle greenhouse gas (GHG) emissions analysis, and market and offtake strategy support. LR will also undertake concept design reviews, feasibility studies and performance benchmarking aligned to ISO 55000.
Nissan ranks highest among Mass-Market brands in J.D. Power 2025 U.S. Initial Quality Study Nissan has been ranked highest among Mass-Market brands in the J.D. Power 2025 U.S. Initial Quality Study (IQS), coming second in the industry overall. The prestigious benchmark of new-vehicle quality is based on owner feedback during the first 90 days of ownership.
The J.D. Power U.S. Initial Quality Study, which measures problems per 100 vehicles (PP100), showed that Nissan achieved the lowest number of problems per 100 vehicles among all Mass-Market competitors – demonstrating significant improvements in quality and customer experience.
Several Nissan models stood out in their respective segments:
Nissan Altima – Ranked highest in the Midsize Car segment
Nissan Sentra – Ranked highest in the Compact Car segment
Nissan Rogue, Frontier, and Pathfinder – Each placed among the top three in their respective segments
Nissan’s recognition by J.D. Power as the top-performing Mass-Market brand in initial quality reflects the company’s customer-centric commitment to producing vehicles that deliver quality and customer satisfaction.
The U.S. Initial Quality Study (IQS), now in its 39th year, analyzes responses from tens of thousands of purchasers and lessees of new 2025 model-year vehicles. It covers 223 specific problems across nine vehicle categories, ranging from infotainment and features to driving experience and build quality.
Fugro awarded contracts by Petrobras Petrobras has announced tender results awarding Fugro four significant multi-year contracts for the inspection and monitoring of critical subsea infrastructure in Brazil. This major win strengthens Fugro’s decades-long partnership with Petrobras, building on a history of collaboration that leverages high-tech survey technologies, including underwater robotics, to support responsible energy development in the region. Moreover, it is fully in line with Fugro’s focus on securing recurring revenue as a core pathway to sustainable value creation.
The contracts, once signed, will commence in the fourth quarter of 2025 and span four years with potential one-year extensions, underscoring Fugro’s commitment to providing essential services for the offshore energy sector. Each of the four day-rate contracts is assigned to a dedicated vessel — two operated by Fugro and two by partner companies— all of which will be equipped with Fugro’s state-of-the-art remotely operated vehicles (ROVs) for comprehensive and precise inspection and monitoring of subsea assets.
The combined value of the contracts over the next four years is approximately USD 340 million. Three out of the four, including the one awarded to Fugro Aquarius, are set to replace existing contracts expiring later this year, under improved terms and conditions. The fourth contract is new.
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole , victor@oilandgaspress
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