Brent $71.10/bbl, WTI Crude $67.61/bbl,Gas $4.05/MMBtu
London, March 17, 2025 (Oilandgaspress) –-Oil prices higher on Monday after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping and China taking steps to revive consumption by boosting incomes.
Brent futures rose 41 cents or 0.6%, to stand at $70.99 a barrel by 0336 GMT, while U.S. West Texas Intermediate crude futures rose 40 cents, or 0.6%, to $67.58 a barrel.
A wind energy project developer has placed an order with the Nordex Group for the supply and installation of 16 N163/5.X turbines. The 94 MW order also includes the servicing of the turbines for a period of 25 years. The Nordex Group will supply the turbines for the wind project in Nova Scotia from mid-2026, each with a nominal output of 5.9 MW. The cold climate turbines will be installed on 125-metre-high tubular steel towers and equipped with the Nordex Advanced Anti-Icing System for rotor blades. This ensures high availability of the turbines during the cold winter period.
“This is another project with which the Nordex Group is further expanding its market position in Canada,” says Manav Sharma, CEO Division North America of the Nordex Group. “15 years ago, we integrated an anti-icing system for rotor blades into our turbines for the first time. Today, our proven anti-icing solution is one of the keys to our success in cold climate regions – such as Canada. Since ice formation on the rotor blade surface is prevented, ice-related downtimes are minimized.” The name of the customer and of the wind farm are not disclosed. . Read Related News
Brazil-based energy holding company Auren Energia has commissioned the Nordex Group to supply and install 19 N163/5.X turbines. The 112 MW order includes the service for the turbines for an initial period of fifteen years, with several options to extend up to 30 years.
The turbines are destined for the Cajuína 3 wind farm which is part of the Cajuína Wind Complex in the state of Rio Grande do Norte in the municipality of Lajes. The 19 turbines are due to be installed beginning of 2026 and will be supplied in an operating mode of 5.9 MW on 120-meter concrete towers. Commissioning is scheduled for autumn 2026. In the last years, the Nordex Group already delivered and installed in total 120 N163/5.X turbines comprising 684 MW for the Cajuína 1 and Cajuína 2 wind farms. Read Related News
Kent announced its integral role in the delivery of a major infrastructure project at the Wormington Compressor Station in Gloucestershire, UK. This project, delivered on behalf of United Living Infrastructure Services (ULIS), is designed to enhance the resilience and sustainability of the UK’s gas network.
The Wormington Compressor Station is a critical node in the National Transmission System (NTS) operated by National Gas, connecting gas import terminals in South Wales with the NTS and South West England. As part of the Medium Plant Combustion Directive (MCPD), the project will significantly reduce emissions and improve efficiency by installing a new, state-of-the-art 15MW gas turbine-driven compressor train on greenfield land. The existing Rolls Royce Avon-driven compressor will be retained for reserve use during peak demand and maintenance.
Usman Darr, Managing Director of Engineering at Kent UK, commented, “We are proud to continue our front-end and asset health work for National Gas on other compressor stations and to be working with United Living on this crucial project that supports the UK’s sustainability and energy security objectives. Our expertise in engineering and energy transition solutions will ensure that Wormington Compressor Station is future-proofed with efficient, lower-emission infrastructure.”
As the Engineering design and project execution partner Kent will bring its extensive knowledge and capabilities in energy infrastructure, ensuring a seamless, innovative, and sustainable execution of the project. By leveraging cutting-edge engineering solutions, Kent will support the design and construction phases to deliver a future-proofed facility that aligns with the UK’s evolving energy landscape.
The Wormington project further strengthens Kent’s long-standing relationship with National Gas and expands on its extensive portfolio of projects that enhance the UK’s energy security while reducing environmental impact. Read Related News
BP reportedly aims to sell 50% of its solar unit Lightsource BP this summer.
BP will divest the stake to a strategic partner for cash and a commitment of future investments, with bids due in June, Reuters said citing a sales document dated March 2025.
According to the document, which calls the divestment Project Scala, BP is looking for a group with “established leaders with extensive experience” in the renewables industry, according to the document. Read Related News
Xpeng Motors has achieved important results in its overseas market expansion, successfully entering the markets of Poland, Switzerland, the Czech Republic, and Slovakia . Its Xpeng P7, Xpeng G9, and Xpeng G6 are scheduled to start sales in the second quarter of 2025. At the same time, Xpeng Motors signed official agency cooperation agreements with Inchcape, a leading automobile distribution company, and Hedin Group, a well-known European dealer group. According to the agreement, Inchcape will be responsible for imports and national distribution in the Polish market, while Hedin Group will be solely responsible for the Swiss, Czech, and Slovak markets.
Xpeng Motors’ entry into the markets of Poland, Switzerland, the Czech Republic and Slovakia is an important step in deepening its “Going Global 2.0” strategic development layout, and also lays a solid foundation for its future expansion into more European markets. “Cooperation with these partners has further strengthened Xpeng Motors’ confidence in the development of the European market,” said Tang Zhikun, general manager of Xpeng Motors’ international business department. “We are very pleased to bring Xpeng Motors’ innovative technology and excellent design to local consumers and provide them with a brand new travel experience.” Read Related News
Xpeng Motors announced its entry into the Indonesian market and plans to start localized production of the Xpeng G6 and Xpeng X9 models in the second half of 2025. At the press conference, Xpeng Motors reached a strategic cooperation with ERAL (Erajaya Active Lifestyle), a well-known Indonesian dealer, to be the first to bring the Xpeng G6 and Xpeng X9 models to the Indonesian market.
The overseas strategy has been upgraded and localized production has been launched in Indonesia.
At the press conference, Xpeng Motors announced that it will start local production in the second half of 2025. Indonesia will also become Xpeng Motors’ first overseas market to start its overseas local production model.
Xpeng Motors’ entry into the Indonesian market is an important step in its layout in the ASEAN region. As the most populous country in Southeast Asia and the largest million-level new car market, the Indonesian market has huge potential. According to data from the Indonesian Automotive Industry Association, Indonesia’s new energy vehicle sales will increase by more than 43,000 units in 2024, a year-on-year increase of 150%. In 2025, Indonesia plans to produce 400,000 electric vehicles and increase to 1 million by 2035. In addition, Indonesia has successively introduced a number of policies to support the development of new energy vehicles, which have created broad market opportunities for Chinese new energy vehicle companies such as Xpeng Motors. Against this background, Xpeng Motors regards Indonesia and the Asia-Pacific region as its next growth engine, and is committed to bringing more advanced smart travel solutions to local consumers through the introduction of smart electric vehicle technology. Xiaopeng Motors simultaneously launched blind bookings for Xiaopeng G6 and Xiaopeng X9 vehicles and invited users to test drive, and reached a strategic cooperation with ERAL, a well-known Indonesian dealer. The right-hand drive version of Xiaopeng G6 and Xiaopeng X9 will be the first to enter the Indonesian market in early 2025. Read More
The Porsche Singapore Classic will present golf fans with world class golfers and awesome sports cars on and next to the Laguna National Golf Resort Club’s Classic Course from 20 to 23 March. In addition to top international stars, an exclusive VIP programme including an emotional Porsche brand experience awaits Porsche guests.All the pros in the field have the chance during the four rounds of winning the hole-in-one prize, the highlight of every Porsche golf tournament. Every Pro-am participant can win the Taycan with a dream shot on the over 160-metre hole that includes a formidable water hazard. Visitors to the daily Porsche Taycan Challenge in the Spectator Village will also have the chance to qualify for the shootout on the final Sunday, and then with a bit of luck secure themselves the hole-in-one prize. Read More
Tesla CEO Elon Musk has been forced to halt deliveries of his ‘indestructible’ Cybertruck vehicles following a major safety concern. In posts on X and on the Cybertruck Owners Club website, customers said that Tesla agents had informed them that deliveries had been put on hold pending an inspection. The current problem appears to mainly affect the ‘cantrail’, a large piece of decorative trim running along the roof from front to back.
In an official complaint to the National Highway Traffic Safety Administration (NHTSA), one Cybertruck owner wrote that this piece of trim detached after just one year of driving.
In their statement, the driver argued that this panel was ‘hard and sharp enough to hit other cars’ and presented a ‘serious safety issue’. Read More
This month, the new Trump administration’s energy secretary Chris Wright told African leaders that Africa needed more energy of all kinds, including coal, to ensure its energy security. Wright stated, “This government has no desire to tell you what you should do with your energy system… It’s a paternalistic post-colonial attitude that I just can’t stand.” The Energy Secretary added, “We’ve had years of Western countries shamelessly saying don’t develop coal, coal is bad… That’s just nonsense, 100 percent nonsense. Coal transformed our world and made it better.”
Around 600 million of Africa’s 1.5 billion population does not have access to power. This has driven many countries across the continent to tap into their oil, gas, and coal reserves to enhance their energy security, at a time when much of the world is attempting to transition away from fossil fuels. As many African countries undergo industrialisation, the energy demand is increasing. While several international organisations and country leaders are encouraging African leaders to develop their renewable energy capacity rather than tap into their fossil fuel reserves, very few are putting their money where their mouth is.
Nigeria’s oil industry is dominated by two U.S. oil majors, ExxonMobil and Chevron. In 2023, Nigeria’s proven crude oil reserves totalled 37.5 billion barrels and it was producing an average of 1.5 million bpd of crude. Nigeria joined OPEC in 1971 and it is now the 16th-biggest oil producer worldwide. Nevertheless, over 80 million Nigerians do not have access to electricity, out of a population of around 228 million, according to a 2021 World Bank report. This suggests that oil and gas alone have not met the country’s energy demand. To address the issue of energy insecurity, the Nigerian government has increasingly sought to expand its renewable energy capacity, to diversify its energy mix. The government aims for renewable energy to contribute nearly 60 percent of Nigeria’s energy demand by 2050. In 2023, the government collaborated with the International Renewable Energy Agency (IRENA) to develop the Renewable Energy Roadmap Nigeria to assess the renewable energy deployment potential to 2050. The report outlined Nigeria’s potential to develop its solar and wind energy, hydropower, and biomass sectors. Read More
The new Lamborghini Urus SE1, the first plug-in hybrid Super SUV, made its Mexico debut this week in Mexico City during a private event at Atrio Santa Fe. Stephan Winkelmann, Chairman and Chief Executive Officer of Automobili Lamborghini, together with Federico Foschini, Chief Marketing and Sales Officer, and Andrea Baldi, CEO of Automobili Lamborghini Americas, welcomed long-time Lamborghini customers, local tastemakers, and fans of the storied brand to experience the new Urus in person. Mexico represents 68% of sales in Latin America with two showrooms located in Mexico City and Monterrey. Pricing for the new Lamborghini Urus SE begins at $300,000 USD. The ability to configure a new Urus SE is available now through the customization program Ad Personam and customer deliveries are set to begin in Q2 2025. Read More
Lamborghini Squadra Corse endured a challenging second round of the IMSA WeatherTech SportsCar Championship campaign, as bad fortune prevented the trio of Lamborghini Huracán GT3 EVO2s from achieving strong results in the 12 Hours of Sebring. Lamborghini Factory Drivers Andrea Caldarelli, Marco Mapelli were joined by James Hinchcliffe in the #9 Pfaff Motorsports car and showed incredible resilience in the face of adversity to salvage 10th, while the #78 Forte Racing combination of Mario Farnbacher, Misha Goikhberg and Parker Kligerman recovered well after a puncture cost them a shot at a top five result. Early brake issues also cost the #45 trio of Danny Formal, Trent Hindman and Graham Doyle, but all three Huracáns made it to the end of the grueling race. There was disappointment for the Lamborghini SC63 in the GTP class, despite an improved performance from Daytona. Factory Drivers Romain Grosjean, Mirko Bortolotti and Daniil Kvyat started well but an exhaust issue meant the #63 had to retire on safety grounds with three hours to go. Read More
BYD Co. unveiled a new system for electric cars that the Chinese automaker says will allow them to charge almost as fast as it takes a regular car to refuel. BYD’s new battery and charging system was capable of providing 470 kilometers of range in 5 minutes in tests on its new Han L sedan, Chairman and founder Wang Chuanfu said Monday. The manufacturer will start selling vehicles with the new technology next month.
Being able to charge a car in the time it takes a combustion engine vehicle to pull in and out of a gas station could convince drivers who aren’t willing to make lengthy stops to go electric. The new platform, which will underpin many of its future electric vehicles, could provide another boost for BYD, which has come from behind to rival Tesla Inc. as the world’s top EV seller. It requires new charging infrastructure that the Chinese company has pledged to set up. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $67.61 | Up |
| Crude Oil (Brent) | USD/bbl | $71.10 | Up |
| Bonny Light 14/03/25 CBN | USD/bbl | $73.96 | Down |
| Dubai | USD/bbl | $71.39 | Down |
| Natural Gas | USD/MMBtu | $4.05 | Up |
| Murban Crude | USD/bbl | $72.27 | Up |
| OPEC basket 14/03/25 | USD/bbl | $72.98 | Down |
Baker Hughes Rig Count: U.S. unchanged at 592 Canada -35 to 199
U.S. Rig Count is unchanged from last week at 592 with oil rigs up 1 to 487, gas rigs down 1 to 100 and miscellaneous rigs unchanged at 5.
Canada Rig Count is down 35 from last week to 199, with oil rigs down 31 to 139, gas rigs down 4 to 60 and miscellaneous rigs unchanged at 0.
International Rig Count is unchanged from last month at 905 with land rigs down 2 to 711, offshore rigs up 2 to 194.
| Region | Period | Rig Count | Change |
| U.S.A | 14 March 2025 | 592 | — |
| Canada | 14 March 2025 | 199 | – 35 |
| International | February 2025 | 905 | -4 |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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