London, February 04, 2025 (Oilandgaspress) –- China announced a 15% levy on imports of U.S. liquefied natural gas and coal, and a 10% tariff on crude oil..Beijing also introduced export limits on more critical minerals, including tungsten, molybdenum, tellurium, ruthenium, and ruthenium-related elements in a bid to “safeguard national security interests,” Reuters reported. Read More
North Dakota could help America become a dominant player in the oil industry after experts found a significant amount of undeveloped oil resources yet to be extracted. Geologists determined the middle Three Forks reservoir in McKenzie County has another 10.5 billion gallons of oil worth $18.6 billion just 50 feet lower than where drilling is currently operating . The reservoir is part of the Bakken Petroleum System, located in Montana and North Dakota, which has the largest oil deposits in the US, churning out 474.5 million barrels per year. North Dakota’s portion of the oil system produces 1.2 million barrels per day, but the state’s governor Kelly Armstrong said ‘are still leaving over 80 percent of oil in the ground.’ Armstrong told DailyMail.com that he believes ‘North Dakota’s untapped oil reserves can play a major role in the United States becoming not only energy independent but energy dominant.’ Read More
There were nearly 249 million cars on the road in the EU in 2023, but purely electric vehicles represented just 1.8% of the total. Despite years of government-backed incentives, tax reductions, and other benefits, purely electric cars are only a fraction of the total number of cars registered in Europe. Factoring in plug-in hybrids, vehicles with a charging port still made up just 3.9% of the total car fleet in the EU in 2023, according to ACEA. Read More
In 2024, ENGIE won 4.3 GW of PPA deals, up from 2.7 GW in 2023, equivalent to 136 TWh of electricity supply. These 85 agreements cover 5 continents: North America, South America, Asia, Europe, and Oceania. ENGIE confirms its position as a global leader on the PPA market, with a total portfolio of 14 GW of PPAs already contracted.
This performance includes new contracts with Meta in the United States, the expansion of the global partnership with Google including new developments in Belgium and the United States, as well as agreements with other tech companies. ENGIE also signed contracts in new sectors such as utilities, chemicals and in the medical field.
The PPA market is driven in recent years by the growing need for decarbonized electricity in all sectors, particularly in the technology and digital sectors where new energy-intensive uses such as AI have emerged.
ENGIE stands out with a commercial performance of 1.5 GW of PPAs signed in North America, reflecting the high demand for renewable electricity in this region. The contracts signed in 2024 cover eight new projects, with production expected between 2024 and 2026. Among these projects is the Chillingham park (350 MW) located near Austin, north of Texas, ENGIE’s largest solar project to date in the United States. Read More
Germany’s state-owned Securing Energy for Europe (SEFE) on Monday signed a memorandum of understanding with Saudi Arabia’s ACWA Power on the supply of green hydrogen to the European market.
Under the agreement, 200,000 tons of hydrogen produced with wind and solar power is to be shipped to Europe annually in the form of ammonia from 2030 onwards, SEFE announced in Berlin. Read More
Nissan races in the ABB FIA Formula E World Championship to bring the excitement and fun of zero-emission electric vehicles to a global audience. Season 11, now underway, marks Nissan’s seventh year in the series.
This season’s big news is the introduction of GEN3 Evo regulations. The GEN3 Evo race car features all-wheel drive, a new, stronger body kit and several other upgrades, making it the fastest Formula E car to date. Following an excellent year with the squad in 2024, Oliver Rowland is now piloting the #23 Nissan e-4ORCE 05, while Norman Nato returns in the #17 car. The team has enjoyed success in the first two rounds, with Rowland taking his fourth Formula E victory in Mexico City. Read More
The Hyundai IONIQ 5 and Kona have been honored with a pair of 2025 Kelley Blue Book Best Buy Awards. For the third consecutive year, the IONIQ 5 SUV has claimed Kelley Blue Book’s Best Electric Vehicle award, while the Kona has taken home the award for Best Subcompact SUV for the second consecutive year. Now in their eleventh year, Kelley Blue Book’s Best Buy Awards are among the industry’s most trusted and sought-after accolades, the product of a year’s worth of testing involving nearly every new model available in the U.S. by KBB’s editorial staff. The veteran team’s evaluation criteria include conclusions drawn from hands-on vehicle testing, pricing, and ownership cost analysis, along with consumer reviews and sales data. Hyundai IONIQ 5 and Kona earned their wins by excelling in technology, safety, and driving dynamics. Read More
(QNA) – Having developed the GCC region’s first-ever Sustainable Construction Code, the Gulf Organisation for Research & Development (GORD) – a subsidiary of Qatari Diar Real estate Investment Company – has signed an agreement with the GCC Standardization Organization (GSO) for integrating the code into the wider Gulf Building Code.
The agreement was formalized by Founding Chairman of GORD Dr. Yousef bin Mohammed Alhorr and HE President of GSO Engineer Nawaf bin Ibrahim Al Hamad Al Mana at GSO headquarters in Riyadh, Saudi Arabia.
The Gulf Building Code, endorsed by the Ministries of Municipalities and Urban Planning in Gulf States, serves as a comprehensive framework guiding building and construction practices across the Gulf region. The newly developed Sustainable Construction Code, created by experts at GORD -headquartered at Qatar Science &Technology Park- draws on the success of GORD’s flagship Global Sustainability Assessment System (GSAS), developed as the first performance based green buildings rating system in MENA region, will significantly contribute to the Gulf’s transition to more sustainable urban landscapes. Read More
(QNA) – Oil prices retreated on Tuesday as US President Donald Trump paused for a month a decision on steep tariffs on Mexico and Canada, the United States’ biggest foreign oil suppliers. Brent futures fell 41 cents, or 0.5%, to $75.55 a barrel, while US West Texas Intermediate (WTI) crude declined 75 cents, or 1%, to trade at $72.41. Read More
(QNA) – China will impose additional tariffs on certain US products starting from Feb. 10, said China’s Customs Tariff Commission of the State Council on Tuesday. An additional 15% tariff will be imposed on imported coal and liquefied natural gas originating from the United States, according to a statement from the commission, cited by Xinhua News Agency.
Crude oil, agricultural machinery, automobiles with large displacement, and pickup trucks will be subject to an additional tariff of 10%, said the statement. In the same context, the Ministry of Commerce announced Tuesday that China has filed a complaint with the World Trade Organization (WTO)’s dispute settlement mechanism against the US decision to impose an additional 10% tariff on goods from China. . Read More
Alain FAVEY has been appointed Chief Executive Officer of Peugeot reporting to Jean-Philippe Imparato, Enlarged Europe Chief Operating Officer, Stellantis. A graduate of HEC Paris, Alain FAVEY spent the first 20 years of his career with the PSA Group, where he was Country Managing Director for Citroen, for Denmark, Belux, UK, Italy and France. In 2009, he joined Volkswagen AG, where he held several leading international positions with Porsche Holding, Skoda and Bentley. Since June 2023, he has been CEO of Europcar Mobility Group.
Alain FAVEY joins Stellantis as CEO of Peugeot Brand from February 3, 2025. Read More
The Supervisory Board of Dr. Ing. h.c. F. Porsche Aktiengesellschaft (“Porsche”) authorized the Chairman of the Supervisory Board to enter into discussions with Mr. Lutz Meschke, Deputy Chairman of the Executive Board and Executive Board member for Finance and IT, and Mr. Detlev von Platen, Executive Board member for Sales and Marketing, in relation to an amicable early termination of Mr. Meschke’s and Mr. von Platen’s appointment as members of the Executive Board of Porsche. Read More
Mercedes-AMG successfully kicked off the new season of the Intercontinental GT Challenge. In the traditional opening race, the prestigious Meguiar’s Bathurst 12 Hours, Jules Gounon (AND), Kenny Habul (AUS) and Luca Stolz (GER) in the #75 Mercedes-AMG GT3 from SunEnergy1 Racing finished third overall. Lucas Auer (AUT), Maximilian Götz (GER) and Jayden Ojeda (AUS) in the #77 Mercedes-AMG Team Craft-Bamboo Racing car finished the race in fifth place. On the legendary Mount Panorama Circuit, the performance and sports car brand from Affalterbach also celebrated a victory in the Bronze class by team Heart of Racing by SPS, a second place in the Silver Cup by team Supabarn Supermarkets/Tigani Motorsport and another second place in the GT4 classification by Team Nineteen. Read More
U.S. gasoline futures climbed up about 3% to a two-week high, helping to boost the 3:2:1- crack spread, which measures refining profit margins, to its highest since August 2024. Tariffs will raise costs for the heavier crude grades that U.S. refineries need for optimum production, industry sources said Read More
Brent crude futures for April delivery rose 29 cents, or 0.4%, from where that contract closed on Friday to settle at $75.96 a barrel, while U.S. West Texas Intermediate crude futures (WTI) rose 63 cents, or 0.9%, to settle at $73.16.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $71.78 | Down |
| Crude Oil (Brent) | USD/bbl | $75.04 | Down |
| Bonny Light 03/02/25 CBN | USD/bbl | $79.37 | — |
| Dubai | USD/bbl | $80.41 | Down |
| Natural Gas | USD/MMBtu | $3.22 | Down |
| Murban Crude | USD/bbl | $77.04 | Down |
| OPEC basket 03/02/25 | USD/bbl | $77.99 | Down |
Tata Motors today signed a Memorandum of Understanding (MoU) with Government of Maharashtra to restore 1000 water bodies in over 20 districts in the water-stressed regions of the state. In 2024, Tata Motors rejuvenated and restored 356 water bodies in Maharashtra by leveraging the Gal Mukt Dharan Gal Yukt Shivar Yojana, a community-based de-siltation programme, in partnership with the Soil and Water Conservation Department of Government of Maharashtra, NAAM Foundation, and local communities.
Strengthening its collaboration, Tata Motors intends to scale the water conservation initiative to over 20 districts in the state, including the water deprived regions of Vidarbha and Marathwada. The proposed collaboration aims to rejuvenate and revive 1000 water bodies in Amravati, Latur, Chandrapur, Nagpur, Nanded, Parbhani, Akola, Gadchiroli, Yavatmal, Dharashiv, Chhatrapati Sambhaji Nagar, Ahilya Nagar, Sangli, Solapur, Pune, Palghar, Thane & other districts of the state. NAAM Foundation will be the implementation partner for the programme.. Read More
Baker Hughes Rig Count: U.S. +6 to 582 Canada +13 to 258
U.S. Rig Count is up 6 from last week to 582 with oil rigs up 7 to 479, gas rigs down 1 to 98 and miscellaneous rigs unchanged at 5.
Canada Rig Count is up 13 from last week to 258, with oil rigs up 12 to 186, gas rigs up 1 to 72 and miscellaneous rigs unchanged at 0.
International Rig Count is down 10 rigs from last month to 909 with land rigs unchanged at 712, offshore rigs down 10 to 197. International Rig Count is down 46 rigs from last year’s count of 955, with land rigs down 23, offshore rigs down 13.
The U.S. Offshore Rig Count is unchanged at 14, down 5 year-over-year.
The Worldwide Rig Count for October was 1,754, up 4 from the 1,751 counted in September 2024, and down 22, from the 1,776 counted in October 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 31 January 2025 | 582 | +6 |
| Canada | 31 January 2025 | 258 | +13 |
| International | December 2024 | 909 | -10 |
The world’s longest wind-powered cargo ship was recently launched in Tuzla port of Turkey.
Dubbed Neoliner Origin, the 450-foot (136-meter) vessel promises to slash carbon emissions and usher in a greener era of maritime transport. Interestingly, it can carry 5,842 tons (5,300 tonnes) of cargo over long distances.
Following its launch, the ship will now be fitted out over the next six months. In summer 2025, the ship will travel from Turkey to Saint-Nazaire, France. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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