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Overall, sales of Chinese car brands in Europe increased again in the first quarter. However, manufacturers achieved this growth by bringing more combustion-engine and hybrid vehicles into Europe – both not affected by the EU’s special tariffs on China-made EVs. Yet, this strategy could have far-reaching consequences for the carmakers. According to preliminary figures from market analyst Dataforce, reported by the German Automobilwoche, sales of Chinese vehicles rose by 78 per cent in the first three months of the year, while sales of China-built electric cars increased by only 29 per cent. With a total of 148,096 vehicles sold, Chinese…

What are the latest artificial intelligence (AI) developments the oil and gas sector needs to be aware of? That was the question Rigzone posed to Toni Fadnes, the Chief Transformation Officer (CTO) of eDrilling, which describes itself on its website as a technology company with an AI and software portfolio designed to drive the sustainable transformation of the energy industry. Responding to Rigzone, Fadnes said “agentic AI is what will help us (finally) transform our industry, and what everybody across all the workflows, should be aware of”.  “Building upon the previous to technology eras, PC and SaaS, Agentic AI -…

Woodside Energy Group Ltd. has reported $3.32 billion in revenue for the first quarter (Q1), down five percent from the prior three-month period but up 13 percent against Q1 2024. The sequential decrease was primarily due to lower production and weaker oil-linked prices. The year-on-year increase was due to added production from the Sangomar field offshore Senegal, which started up in Q2 2024, and higher gas hub-linked prices, the Australian exploration and production company said in an online statement. Woodside produced 49.1 million barrels of oil equivalent (MMboe) in the January-March 2025 period, down 4 percent quarter-on-quarter due to weather…

Oil prices inched up in early trade on Monday but remained dogged by uncertainty over trade talks between the U.S. and China clouding the outlook for global growth and fuel demand, while the prospect of OPEC+ raising its supply cast more gloom.Brent crude futures and U.S. West Texas Intermediate crude nudged higher for a third session, up 9 cents by 0025 GMT to $66.96 and $63.11 a barrel, respectively. “Absence of news is pushing oil prices modestly higher as traders are positioned short ahead of potential increased OPEC+ supply from the May 5 meeting and a significant production boost in…

Naftogaz Group said Wednesday it will continue delivering natural gas to households in Ukraine at the current regulated rate under its fixed tariff plan. The price will remain at UAH 7.96 ($0.19) per cubic meter until April 2026 to reflect the current moratorium on raising natural gas tariffs, the state-owned oil and gas company said in an online statement. However, the company added, “Naftogaz also encourages consumers to pay their bills on time”. Acting chief executive Roman Chumak added, “These payments help maintain the country’s energy stability in the face of ongoing attacks on critical infrastructure”. “Supplying gas to households…

Iberdrola SA has announced the start of offshore construction in the East Anglia 3 wind farm on the United Kingdom side of the North Sea, saying an engineering feat has been achieved with the installation of a giant monopile. Located about 69 kilometers (42.87 miles) from the Suffolk coast, the 1,400-megawatt (MW) project is expected to produce enough power for over 1.3 million homes, according to Scottish Power Ltd., Iberdrola’s unit in the UK. The project received consent August 2017. Onshore construction began July 2022. On Friday the Spanish utility giant said, “The offshore construction program for ScottishPower’s biggest-ever renewables project is officially underway…

Oceaneering International Inc. outperformed expectations for the first quarter, reporting a 13 percent increase in revenue to $675 million and a 233 percent increase in net income to $50.4 million year-on-year. “Oceaneering outperformed expectations this quarter due to resilient utilization of remotely operated vehicles (ROVs), and strong vessel activity, predominately in the Gulf of Mexico and West Africa. We generated adjusted EBITDA of $96.7 million, exceeding both our guidance range and consensus estimates for the quarter”, Rod Larson, President and Chief Executive Officer of Oceaneering, stated. He added that the jump in revenue was driven by strong performances from the…

Naftna Industrija Srbije d.d., a refiner controlled by Russia’s Gazprom PJSC, won another reprieve on US sanctions, which have been postponed until June, President Aleksandar Vucic said on Saturday. “Serbia managed to win another delay in sanctions against NIS, this time for two months, until June 27,” Vucic said in an Instagram post. “Thanks to our American partners for understanding the position of Serbia.”  The US Treasury’s Office of Foreign Assets Control in January imposed sanctions on the company, known as NIS, in one of its most aggressive moves yet against Russia’s oil industry. The latest deferral marks the third…

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This article is an on-site version of our Europe Express newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday and fortnightly on Saturday morning. Standard subscribers can upgrade to Premium here, or explore all FT newslettersGood morning. News to start: Viktor Orbán has allegedly pumped more than €1bn in unlawful subsidies into pro-government media, according to a state aid complaint seen by the Financial Times, heightening concerns over the illiberal Hungarian premier’s grip on power.Today, our energy correspondent reports on headaches with EU gas rules that could imperil efforts to sign new US import contracts,…