London, January 13, 2025 (Oilandgaspress) –-The UK’s gas storage is under pressure this winter as the UK battles both extreme cold and high gas prices. The ongoing colder-than-usual conditions in the UK combined with the end of Russian gas pipeline supplies through Ukraine on 31 December 2024 has meant that gas inventory levels across the UK are down. As of the 9th of January 2025, UK storage sites are 26% lower than last year’s inventory at the same time, leaving them around half full. This means the UK has less than a week of gas demand in store.
Gas storage was already lower than usual heading into December as a result of the early onset of winter. Combined with stubbornly high gas prices, this has meant that it has been more difficult to top up storage over Christmas.
The situation is echoed across Europe. By 7 January 2025, despite many countries mandating minimum storage levels ahead of winter, European storage was at 69% capacity, down from 84% at the same time the previous year. The UK’s total gas storage capacity is around 10 per cent or less than in France, Germany, or the Netherlands.
As energy demand spikes due to the freezing weather, the UK has seen a particular strain on its gas storage. Despite being full ahead of winter, current gas inventory at Rough, the country’s largest gas storage site, which is operated by Centrica, is 20% lower than at the same time last year. Rough has played a crucial role so far this winter by supplying almost 420 million cubic meters (mcm) of gas since early November, enough to heat three million homes every day. Without Rough’s gas, UK consumers would face even higher prices, more imports and potential energy shortfalls. The UK is heavily reliant on Liquified Natural Gas (LNG) imports, but these shipments come with challenges. Most of the LNG the UK imports comes from the US, with each cargo traveling an average of over 3,000 nautical miles to reach UK shores. Many trading routes are also under pressure due to geopolitical issues. This means the UK is competing directly with other nations, particularly in Asia and Europe, for these vital shipments which can head for another destination at any time if other countries bid more than the UK. Read More
Plenitude, through its subsidiary Eni New Energy US, has completed the construction of the Guajillo plant, the company’s largest battery storage system ever. Located in the in Webb County, Southwest Texas, about 20 kilometers from the city of Laredo, Guajillo has a capacity of 200MW and is equipped with lithium-ion LFP batteries (lithium iron phosphate), able to efficiently store the electricity produced by generation plants, making it available when market demand is greatest. The plant was built right next to one of Plenitude’s largest operating solar farms, “Corazon Solar Farm,” also to maximize operational synergies and consolidate the company’s presence in the area, where it operates on about 800 hectares site.
The plant is scheduled to be commercially operational by mid-2025. Guajillo will play an important role in stabilizing the local power grid, contributing to the efficiency of the entire Region’s power system, which is experiencing a very strong growth in electricity generation from renewable sources. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $77.57 | Up |
| Crude Oil (Brent) | USD/bbl | $80.66 | Up |
| Bonny Light 10/01/25 CBN | USD/bbl | $80.70 | Up |
| Dubai | USD/bbl | $76.28 | — |
| Natural Gas | USD/MMBtu | $4.18 | Up |
| Murban Crude | USD/bbl | $81.95 | Up |
| OPEC basket 10/01/25 | USD/bbl | $77.94 | Up |
(Reuters) – Germany’s power plants run on hard coal remain an important back up to guarantee supply when volatile wind and solar power are not available, coal importers lobby VDKi said in a statement on Thursday, calling for better remuneration.
VDKi’s call comes in a regulatory limbo ahead of national elections on Feb. 23, three months after Germany’s coalition government collapsed, and after recent high price periods in wholesale power that harmed industrial consumption and burdened households. Read More
(Reuters) – South Korea’s Hyundai Motor said on Friday it will introduce the cheapest compact electric car in Japan, to penetrate a market dominated by local auto giants with established hybrid petrol-electric vehicle technologies. The Japan launch of the Hyundai Inster follows attempts by foreign brands such as Tesla to enter a country which has seen a slow take-up of EVs. With the Inster, Hyundai will tackle the problem with an approach akin to the low-price strategy of China’s leading EV maker BYD. The 2.85 million yen ($18,000) entry-model price tag will be the lowest for a compact electric car in the country, below the 3.63 million yen BYD set in 2023 with its Dolphin. Read More
In response to the devastating wildfires affecting Southern California, Hyundai and Genesis Motor America have launched a comprehensive wildfire relief program to provide immediate humanitarian aid and financial assistance to those impacted. This initiative includes targeted support for current Hyundai and Genesis owners, prospective customers, and community relief efforts.
“Hyundai and Genesis are deeply saddened by the devastation caused by the wildfires across Los Angeles and everyone impacted,” said Randy Parker, CEO of Hyundai and Genesis Motor North America. “We extend our heartfelt gratitude to the heroic first responders and fire departments working tirelessly to protect residents, their homes and loved ones. Southern California is more than just our home—it’s the heart of our North American operations, including our headquarters, design studios, and many Group partners. During this challenging time, our top priority is the safety and well-being of our team members, retailers, and community partners in the affected areas.”
As part of its commitment, Hyundai and Genesis Motor America are donating $100,000 to the American Red Cross and $100,000 to the Los Angeles Fire Department Foundation for immediate disaster relief and recovery efforts supporting evacuees and first responders. This donation underscores Hyundai’s long-standing Assurance program, which is dedicated to safeguarding the safety, health, and well-being of its customers, employees, dealers, and the communities it serves. Hyundai Capital America, which includes Hyundai Motor Finance and Genesis Finance, will also offer financial hardship support to eligible customers, providing payment relief solutions for those directly affected by the fires. Read More
Fiat has slashed the price of two of its electric models from January, having previously reduced the cost of other battery cars in a bid to increase flailing demand that has seen the brand’s UK sales shrink by 14 per cent in the last year. Prices tags for the 600e family crossover and Abarth 500e hot hatch have been trimmed by up to £4,220. Both now start from £29,975 in the hope it will make them more appealing to both private buyers and fleet customers. Most car makers have been significantly discounting EVs in recent months, especially towards the end of 2024 as they rallied to increase sales in a desperate bid to meeting the Government’s mandated targets. Read More
Africa Oil Corp. announces that the Company repurchased a total of 380,000 Africa Oil common shares during the period of January 6, 2025 to January 10, 2025 under the previously announced share buyback program.
During this period, the Company repurchased 160,000 Africa Oil common shares on the TSX and/or alternative Canadian trading systems. The repurchases were carried out by Scotia Capital Inc. on behalf of the Company. During the same period, the Company repurchased 220,000 Africa Oil common shares on Nasdaq Stockholm, and these repurchases were carried out by Pareto Securities on behalf of the Company. Read More
Hydro and Northvolt have signed an agreement where Hydro will acquire the remaining shares in the battery recycler Hydrovolt for NOK 78 million. Hydro is increasing its ownership in Hydrovolt from 72 to 100 percent through this transaction.Hydrovolt is a battery recycling and raw materials company established in 2020 as a 50/50 joint venture between Hydro and Northvolt. Hydrovolt is recycling EV and industrial batteries, creating a circular solution for end-of-life batteries by recovering secondary raw materials, including black mass for battery production and aluminium for recycling.. Read More
A subsidiary of Nel ASA has been awarded up to about USD 29 million in additional investment tax credits for its planned manufacturing expansion in Michigan as part of the Qualifying Advanced Energy Project Tax Credit (48C) program.
The 48C program is funded by the Inflation Reduction Act and managed by the US Department of Energy, the US Department of Treasury, and the Internal Revenue Service. A fully owned subsidiary of Nel ASA has now secured up to about USD 29 million in additional tax credits, equivalent to 30 % of the value of qualifying investments. Receipt is subject to conditions, such as wage and apprenticeship requirements. “Nel has a long history of investing in R&D and commercializing advancements co-supported by federal funding, creating confidence in Nel’s ability to manufacture and deliver products to the field. Nel appreciates this continued support from Department of Energy in scaling up manufacturing capability of our advanced electrolyser products,” says Kathy Ayers, Vice President, Research and Development of Nel. Accumulated, Nel has now secured close to USD 200 million in support in both tax credits and other grants from the state of Michigan and Department of Energy. Final investment decision for the Michigan facility is not yet taken, and the build out of the site depends on demand. Read More
A Ukrainian drone hit the Taneko oil refinery in Tatarstan, Russian Telegram channel ASTRA reported on Jan. 11. The refinery is one of the country’s largest oil-processing facilities. Workers at the refinery in Nizhnekamsk were evacuated amid the attack, and local footage showed smoke rising from the site. Andrii Kovalenko, Head of Ukraine’s Center for Countering Disinformation, confirmed the strike, and emphasized its strategic importance. “The refinery plays a key role in providing fuel to the Russian military. Taking out refineries and oil depots directly affects Russia’s ability to wage an intensive war,” he said. The refinery, which processes over 16 million tons of oil annually, was previously targeted in a drone attack in spring 2024, causing damage to its primary processing unit. Taneko refinery is located in the city of Nizhnekamsk, around 1,300 kilometers from the country’s border with Ukraine. Read More
Russian President Vladimir Putin’s main goals in any peace negotiations include prohibiting Ukraine from ever entering NATO and reducing allied military presence in the eastern flank, the Financial Times reported on Jan. 10, citing a former Kremlin official and a source who discussed the matter with Putin. The news comes as the Kremlin signaled willingness to meet U.S. President-elect Donald Trump to hammer out a deal on ending Russia’s war against Ukraine. No concrete plans or date have been set, though Moscow said any face-to-face meeting would occur only after Trump’s inauguration on Jan. 20.
Trump vowed to bring Kyiv and Moscow to the negotiating table and swiftly end the full-scale war that nears its third anniversary. Earlier this week, he told reporters that arrangements for a meeting with Putin are underway. The U.S. president-elect said previously that specific peace proposals are still being worked out. A pitch leaked from Trump’s team — freezing the front lines, postponing Ukraine’s NATO accession by 20 years, and deploying European peacekeepers on the ground — has already been rejected by Russia. Read More
Baker Hughes Rig Count: U.S. – 5 to 584 Canada + 122 to 216
U.S. Rig Count is down 5 from last week to 584 with oil rigs down 2 to 480, gas rigs down 3 to 100 and miscellaneous rigs unchanged at 4.
Canada Rig Count is up 122 from last week to 216, with oil rigs up 100 to 144, gas rigs up 22 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 | 10 January 2025 | 584 | -5 |
| Canada | 10 January 2025 | 216 | +122 |
| International | December 2024 | 909 | -10 |
NTPC Renewable Energy Limited (NTPC REL), a wholly owned subsidiary of NTPC Green Energy Limited (NGEL), has emerged as a successful bidder in the e-reverse auction conducted by Uttar Pradesh Power Corporation Limited (UPPCL). The tender, aimed at the “Selection of Solar Power Developers for Setting up 2000 MW ISTS-connected Solar PV Power Projects in India under Tariff-Based Competitive Bidding,” conducted on 3rd January 2025. NTPC REL secured a capacity of 1000 MW at an impressive tariff of Rs. 2.56/kWh. The Letter of Award (LOA) from UPPCL is awaited. Read More
The Government of India’s continues commitment for green energy and sustainable future, Hon’ble Prime Minister Shri Narendra Modi will lay the foundation stone for the state-of-the-art NTPC Green Energy Limited Green Hydrogen Hub Project at Pudimadaka near Visakhapatnam in Andhra Pradesh on 8th January. The project, which is being developed jointly by NGEL, the renewable arm of NTPC Ltd., and NREDCAP, the renewable arm of the Govt of Andhra Pradesh is the first Green Hydrogen Hub under the National Green Hydrogen Mission.
NGEL and New & Renewable Energy Development Corporation of AP Ltd. (NREDCAP) have already signed JV agreement for development of 20 GW RE projects, 1500 TPD Green Hydrogen and 7500 TPD Green Hydrogen derivatives (including Green Methanol, Green Urea and Sustainable Aviation Fuel), making it one of India’s largest integrated green hydrogen production facilities. This is expected to bring approx. ₹1,85,000 Crore investment to the state and provide huge employment opportunities while at the same time contributing substantially in achieving India’s non-fossil energy capacity target of 500 GW by 2030. Further, the company has also signed a similar MoU with Govt of Rajasthan for development of 25 GW of Renewable Energy Projects in the state of Rajasthan.
Going forward, NGEL is also exploring similar kind of collaborations with other state governments.
Spread over 1600 acres, NTPC Green Energy Limited Green Hydrogen Hub Project at Pudimadaka will include the development of a manufacturing facility, a green chemical zone, a chemical storage terminal, port infrastructure, a transmission corridor, a 7 GW substation, an 80 MLD desalination plant, an effluent treatment plant, and other facilities, making it a comprehensive operational framework.
The project aims contribute significantly to the local economy and showcasing Andhra Pradesh’s role as a key player in the global green energy landscape. Besides playing a key role in India’s quest for energy independence, this project will help drive decarbonisation across major sectors and strengthen the country’s Net Zero goals. Read More
NTPC REL has signed a Memorandum of Understanding (MoU) with Deendayal Port Authority (DPA) on 07th January 2025, in Gandhidham, Gujarat. This MoU intends furthering the green energy technologies in Kandla Port under DPA and especially green hydrogen mobility project. For this, a MoU was exchanged among Shri Anuj Singh, GM, NTPC RE and Shri. R Reddy, CME, DPA in the august presence of Hon’ble Union Minister for Ports, Shipping and Waterways Shri Sarbananda Sonowal, Hon’ble MLA Ms. Maltiben Maheshwari and senior officials from NTPC and DPA.
NGEL will setup the green hydrogen fuelling station in Kandla Port along with 11 hydrogen buses for short-haul operation. This will open an option of phasing out fossil fuel buses in favour clean and green fuels bringing decarbonisation and energy security. NTPC is successfully operating the green hydrogen blending project at Surat, Gujarat for over two years and already taken similar mobility initiatives at Leh, Ladakh, Greater Noida, Uttar Pradesh and Bhubaneshwar, Odisha.
NTPC is also developing the green hydrogen hub in Vishakhapatnam, Andhra Pradesh and aims to reach 60 GW of renewable energy capacity by 2032 with energy storage solutions. Read More
India is emerging as a major exporter of solar photovoltaic (PV) cells as countries look for alternatives to China for sourcing supplies in their switch to renewable energy to fight climate change.In April-October FY25, India exported $711.95 million worth of PV cells assembled in modules or panels with 96 per cent of the shipments going to the US ..The US was also a key export market for Indian solar photovoltaic (PV) modules, accounting for more than 97 per cent of the country’s solar PV exports in both FY2023 and FY2024. Read More
NTPC Mining delivers stellar performance upto Q3 of FY 2024-25 by producing 30.88 Million Metric Tonnes (MMT) of coal registering YoY growth of 23% and has dispatched 30.55 MMT of coal to NTPC’s power stations with a growth of around 19% compared to last financial year.
NTPC Coal Mining has consistently exceeded its production targets, reinforcing its position as a key player in captive coal mining sector.
Till date, NTPC Mining has produced more than 134.87 MMT and has despatched more than 132.98 MMT of coal from its five operational captive coal mines namely Pakri Barwadih, Kerandari & Chatti Bariatu located in Jharkhand, Dulanga in Odisha and Talaipalli in Chhattisgarh ensuring fuel security for thermal power stations of NTPC. This outstanding performance reflects NTPC’s relentless commitment to enhancing coal production from its captive mines and ensuring efficient supply to meet the country’s energy requirements.
To achieve sustained growth in coal production, NTPC has implemented a range of strategies and technologies. NTPC remains committed to deliver reliable, affordable and sustainable power to the nation. This remarkable growth in coal production and despatch is a testament to NTPC’s dedication to operational excellence and its contribution to meeting India’s energy demands. . Read More
The oil tanker Eventin is believed to be part of Moscow’s efforts to evade sanctions – Greenpeace says it belongs to Russia’s ‘shadow fleet.’ The tanker, which is believed to be part of Russia’s efforts to evade sanctions, was discovered adrift in heavy seas off Germany’s coastline in the Baltic Sea. A tugboat from Bremen was deployed which managed to tow it into safer waters off the nearby German island of Rügen on Saturday.
Germany’s foreign minister Annalena Baerbock called the incident a danger to security and tourism in the Baltic Sea.
The Panamanian-flagged Eventin was believed to be carrying 99,000 tons of oil from Russia en route to Egypt when it went adrift for several hours. There was no immediate danger to the environment, the German news agency dpa reported.. Read More
(Xinhua) — At least 17 people were killed and 74 injured, including 50 critically, in a gas station explosion in Yemen’s central province of Al-Bayda, health authorities under Houthi control said on Sunday. The explosion occurred on Saturday in the Zaher district, where medical and emergency response teams are continuing search operations for potential missing persons, the health authorities said in a brief statement. Civil defense units are working to secure the area. Meanwhile, the Houthi-controlled interior ministry said the blast impacted four gas stations and nearby commercial facilities, causing significant material damage. Authorities have launched an investigation to determine the cause of the incident. A local government official had earlier reported that the explosion killed at least 10 people and injured more than 65.
Al-Bayda province has been under Houthi control for several years. Yemen, ravaged by nearly a decade of conflict, has seen several similar accidents at gas and fuel stations in recent years, often attributed to inadequate safety measures and poor regulatory oversight. Read More
(Xinhua) — The United Arab Emirates (UAE) has successfully doubled its clean energy capacity from 3.1 gigawatts to 6 gigawatts between 2022 and 2024, UAE Minister of Climate Change and Environment Amna bint Abdullah Al Dahak announced on Sunday.
The announcement was made during the opening of the 15th session of the International Renewable Energy Agency (IRENA) Assembly in Abu Dhabi, capital of the UAE. Al Dahak reaffirmed the UAE’s commitment, established during the UN climate change conference, COP28, in 2023, to expand its renewable energy capacity to 14.2 gigawatts by 2030.
Emphasizing the urgency of accelerating the clean energy transition, the minister cited the growing frequency of climate-induced disasters such as floods, droughts, and wildfires that displace communities worldwide.
She also highlighted the UAE’s sustained leadership in renewable energy innovation since hosting the first IRENA Assembly in 2011. “Renewable energy is now more affordable, accessible, and scalable than ever before,” Al Dahak said, pointing to advancements in energy storage and technology as key enablers for achieving a just energy transition. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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