London, January 29, 2025 (Oilandgaspress) –- Oil prices lower on Tuesday after weak economic data from China soured the demand outlook.
On Saturday, January 25th, the first retail production 2025 Chevrolet Corvette ZR1, VIN 001, sold at the Barrett-Jackson Scottsdale Auction for $3.7 million. 100 percent of the hammer price of this Barrett-Jackson charity auction benefits the American Red Cross. Chevrolet selected the Red Cross to benefit disaster relief efforts in areas impacted by hurricanes Helene and Milton, as well as general relief to help people affected by disasters big and small, including wildfires, storms and countless other crises. This ties the record donation for a charity vehicle at Barrett-Jackson set in 2022 by the first retail 2023 Corvette Z06 70th Anniversary Edition. Read More
Jonas Hjelm, currently Senior Vice President and Head of Government Affairs, will leave his position and the Group Management team to become Senior Advisor at Saab. The Government Affairs function will be headed by Per de la Gardie, currently Head of Government Affairs Sweden at Saab, as interim until a permanent replacement has been appointed. The function will report to Anders Carp, Deputy CEO, and this change will take effect on 29 January 2025. “I would like to thank Jonas for his strong contributions to Saab’s Group Management over several years and look forward to continuing to work with him in his new role,” says Micael Johansson, President and CEO of Saab. . Read More
McDermott International, Ltd today announced a 125-to-1 share consolidation, also known as a reverse stock split, which will consolidate the number of the Company’s Class A ordinary shares (the “Class A Ordinary Shares”) outstanding as of January 28, 2025, from 3,552,951,586 Class A Ordinary Shares, par value $0.001 per ordinary share, to approximately 28,423,613 Class A Ordinary Shares, par value $0.125 per ordinary share.
The specific ratio was determined by the Company’s Board of Directors with reference to the Company’s share price at the close of trading on January 16, 2025, and is within the range approved by the Company’s members at a special general meeting held on December 2, 2024. The Company expects that the Class A Ordinary Shares will begin trading on a share consolidation-adjusted basis on January 29, 2025.
For a period of 20 business days, the Company’s Class A Ordinary Shares will trade under the symbol MCDID. After this 20 business day period, the Company’s Class A Ordinary Shares will resume trading under the symbol MCDIF.
The share consolidation follows the redemption and exchange of all of the Company’s outstanding Series A preference shares into Class A Ordinary Shares. As a result of the share consolidation, every 125 Class A Ordinary Shares will automatically be combined into one Class A Ordinary Share. The share consolidation will be effected simultaneously for all Class A Ordinary Shares without any action on the part of members. The share consolidation will uniformly affect all of the holders of the Class A Ordinary Shares and will not affect any member’s percentage ownership interests in the Company, except for minor changes to the extent that the share consolidation would result in any of the members owning a fractional share, which is permitted under Bermuda law.. Read More
The U.S. Environmental Protection Agency has been assisting the local government and residents in the wake of catastrophic fires in Los Angeles County. EPA has been assigned by the Federal Emergency Management Agency with the first stage of the overall recovery and cleanup: the project to remove lithium-ion batteries and to survey, remove, and dispose of hazardous materials from properties burned by wildfires. Californians looking for guidance on their return home are encouraged to follow the direction of local authorities.On January 24, 2025, President Trump issued Executive Order Emergency Measures to Provide Water Resources in California and Improve Disaster Response in Certain Areas. This directs EPA to complete its hazardous materials mission responding to the Los Angeles, California Wildfires as soon as practical. EPA’s work removing hazardous materials is Phase 1 of the federal cleanup response. According to the EPA incident commander, there will be upward of 1,000 people working on Phase 1 cleanup by this weekend. This work, conducted at no cost to residents, is a mandatory process to ensure the safety of residents and the workers who will — after the hazardous material is gone — conduct the Phase 2 debris removal in the burn footprints, and to prevent these materials from being released into the environment. Phase 2 is debris removal and will be coordinated by FEMA. Once Phase 1 has been completed at a property, Phase 2 will begin automatically. Read More
Patrick Pouyanné, Chairman and CEO of TotalEnergies and Dr Patrice Motsepe, President of the Confédération Africaine de Football (CAF) concluded an agreement extending their partnership for a further four years.
TotalEnergies will now sponsor 12 major CAF events and CAF competitions in the period: 2025-2028. These includes the TotalEnergies CAF Women’s Africa Cup of Nations Morocco 2024, TotalEnergies CAF Africa Cup of Nations Morocco 2025, and TotalEnergies CAF Africa Cup of Nations Kenya, Tanzania and Uganda 2027, amongst others.
With the extension of this partnership, TotalEnergies continues to passionately support the development of football on the African continent and deepens this commitment by becoming a partner of the CAF African Schools Football Championship from 2025 – CAF’s flagship programme to promote football for young girls and boys in Africa. Read More
.Boeing has reported its biggest annual loss since 2020 and negative adjusted free cash flow of $4.10 billion in the fourth quarter, as the embattled planemaker grapples with the fallout from a prolonged machinists strike, charges from U.S. government projects and expenses linked to a slew of job cuts. Analysts had anticipated negative adjusted free cash flow of $4.17 billion, according to Bloomberg consensus estimates.
The announcement comes after the company warned last week that it will post a bigger-than-anticipated loss of around $4 billion in its most recent quarter.
Boeing posted a basic loss of $5.46 a share, matching a preliminary figure that equated to about $3.86 billion.. Read More
(Reuters) – Flexis, a joint venture between automakers Renault and Volvo as well as shipper CMA CGM, said on Tuesday it has received letters of intent from 10 European transport and distribution companies for orders of 15,000 units of its new electric van.
The letters of intent were signed with France’s Colis Privé, a unit of CMA-CGM, UK-based Hived and Germany’s DB Schencker and will add to sales for Renault and Renault Trucks (Volvo) brands. Other potential customers who signed letters have not been disclosed. Read More
For the upcoming new Volvo cars model year, there will be two main tech upgrades for the XC40, EX40, EC40, S60, V60, V60 Cross Country, V90 and V90 Cross Country models. We’re introducing our new-generation, new-look user experience to our whole lineup, as well as the ultra-fast Snapdragon® Cockpit Platform* from Qualcomm Technologies, Inc. This makes the infotainment system much faster and much more responsive.
Additionally, EX30, EX40 and EC40 models in Europe will get the service Plug & Charge, for an even smoother public charging process.
Volvo Car UX: designed to be safe, focused and personal
We aim to make complex things simple, and we use real-world data and customer feedback as the basis for our work. This is the philosophy behind our new-generation user experience, called Volvo Car UX, already seen in the EX30, EX90 and new XC90.
It’s designed to be a safe and enjoyable way to interact with your car’s central infotainment screen, more focused and personalised than its predecessor, with several Google services built-in**. . Read More
Equinor’s 2024 safety results 2024 was marked by the helicopter accident that occurred outside Bergen on 28 February, in which an Equinor employee lost her life. “This was a tragic accident that has deeply affected us. It is crucial that we continue the work to continuously improve safety in our industry,” says Jannicke Nilsson, executive vice president for safety, security and sustainability.
Equinor’s 2024 safety results show an overall positive trend at the end of the year.
For the fourth quarter of 2024, the serious incident frequency per million hours worked (SIF) was 0.3, down from 0.4 at the end of 2023. Serious injuries are also included in the serious incident statistics. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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