Executives representing energy majors in the U.S., Europe and Asia speak during a CNBC-moderated panel session at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates.
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Chief executives of some of the world’s largest energy companies on Monday sought to defend themselves from criticism, saying it is not possible to keep everyone happy amid the planned energy transition.
Speaking at the ADIPEC oil and gas conference, which opened in Abu Dhabi on Monday, executives representing energy majors in the U.S., Europe and Asia sought to strike a positive tone on the current state of play for the fossil fuel industry.
Big Oil has been accused of dialing back its climate pledges in recent months following record annual profits that were described by human rights group Amnesty International as “patently unjustifiable” and “an unmitigated disaster.”
“We’ve got to step up and prepare for the decarbonized systems of the future,” Tengku Muhammad Taufik, president and group CEO of Malaysia’s state energy firm, Petronas, said during a CNBC-moderated panel Monday.
“So, the debate has always been posed here, I’m reminded of an old saying: ‘If you want to keep everyone happy, sell ice cream.’ We are not in the business of ice cream — and I’m reminded, there are people who are lactose intolerant,” Taufik said.
“The indication here is we have to make some tough decisions and we have to be bounded by facts, rationality, practical steps but we will get there,” he added.
The biggest challenge that is harder to address than even the innovation around technology is just getting people to trust our industry again.
Vicki Hollub
CEO of Occidental Petroleum
As had been widely expected, a major U.N. report published last month confirmed that the world is currently not on track to meet the long-term goals of the 2015 Paris Agreement, a landmark accord that aims to pursue efforts to limit global warming to 1.5 degrees Celsius above preindustrial levels.
The world has warmed by around 1.1 degrees Celsius after over a century of burning fossil fuels as well as unequal and unsustainable energy and land use. Indeed, it is this temperature increase that is fueling a series of extreme weather events around the world.
Vicki Hollub, CEO of U.S. oil and gas producer Occidental Petroleum, said these were “really exciting times” for the oil and gas industry and suggested a major challenge for fossil fuel companies was working to regain the trust of society.
“I don’t see where we are today as something that is going to end our industry although there are some out there that want it to go away. As we have done in the past, we will find ways to innovate out of this situation that we’re in,” Hollub said during the same panel discussion.
“In mitigating climate change, there is also the opportunity to continue to produce oil for our energy security. So, we’re trying to work that strategy and I think it is going to work well. The biggest challenge that is harder to address than even the innovation around technology is just getting people to trust our industry again and to understand what the data really says,” she added.
‘It’s the worst of times and it’s the best of times’
Patrick Pouyanne, CEO of French oil giant TotalEnergies, said the oil and gas industry possesses all the tools necessary to be a “major participant” in the energy transition.
“After three or four years, I understood that maybe I was naïve, we will not please the activists. We will never make enough to please the ones which are against oil and gas, but my mission is not to please them,” Pouyanne said.
“Our mission is to deliver to the society the energy we need today and tomorrow and for that I feel comfortable,” he added.
Wael Sawan, chief executive officer of Shell Plc, speaks during a panel session at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates.
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Speaking in January, U.N. Secretary-General Antonio Guterres condemned fossil fuel giants for ignoring their own climate science, accusing the oil and gas industry of seeking to expand production despite knowing “full well” that their business model is incompatible with human survival.
Scientists have repeatedly warned that time is rapidly running out to stave off the worst of what the climate crisis has in store.
Reflecting on his position as CEO of British oil giant Shell since the start of the year, Wael Sawan said: “It’s been great, and I think it’s been a roller coaster. It’s the worst of times and it’s the best of times.”
“The worst of times I think with the recognition it seems to be a time where we continue to polarize the debate more and more rather than actually converge given that we are trying to solve arguably the world’s biggest problem right now,” Sawan said.
“But it is also the best of times because I do think despite all the negative rhetoric, if you look at what the world has done over the last two to three years and the significant uptick in both low carbon and the conventional energy, it’s been good. We are nowhere close to where we need to be but at the same time, we should not lose hope.”
Hyundai flew us out to Savannah, Georgia, a few weeks ago to get our first impressions of the much-anticipated Ioniq 9 three-row SUV. The vehicle uses the same E-GMP platform as the Kia EV9 and some smaller HMG EVs but the real question is: how is the Ioniq 9 different? Let’s take a look…
Size matters
This is a big EV with spacious three rows that seat six or seven adults comfortably. As far as I am concerned,the Ioniq 9 is Hyundai’s flagship vehicle.
The drive was similar to the Kia EV9, which is obviously a good thing. The big vehicle has solid electric acceleration, and Hyundai has done great work with the suspension to make this heavy car feel light on its toes. But Hyundai has made efforts to make the drive even smoother and quieter. The foam-filled tires, soft suspension, acoustic glass, and active noise cancellation all make the ride feel like floating rather than driving.
Front-row seats are not only spacious but also offer ample comfort and legroom. Also, there’s plenty of legroom in the second row (42.8 inches) and spacious third row (32.0 inches). Did I mention this is a big vehicle?
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What stands out to me on the interior is the flat floor enabled by the E-GMP battery and remarkably long wheelbase (3,130mm / 123.2 inches). It doesn’t feel like an SUV inside, it feels like a big minivan (oxymoron noted). While many folks are embarrassed to be seen in a minivan, nothing beats the configuration internally for trips and driving more than 4 people around – so the comparison is fully complimentary.
Hyundai obviously kitted us out with their top-end interiors, and they definitely felt sporty and luxurious.
Frunk
The Frunk o the Ioniq 9 isn’t anything to write home about and one of the few downsides to this vehicle. Hyundai of course says that their customers don’t want it, just like the bigger Frunk-maker’s say that their customers love it. For better or worse, it is a great place to put some charging cables, a tire inflator kit or some valuables but don’t expect it to be used frequently like a Tesla/Rivian or F-150/Silverado Frunk for groceries and general purpose cargo.
I really love the look of the Ioniq 9, which the company says is shaped like a sailboat hull with its big taper at the back. That also gives the Ioniq an otherworldly low drag coefficient of 0.259. That, along with the big 110kWh battery and Hyundai’s always efficient EVs, gets this thing to 335 miles for the RWD version. The performance AWD variant only drops down to 311 miles, a hit worth taking.
That range and the spacious interior mean that this is a great road trip EV. AWD versions can even tow up to 5000lbs. HMG’s software adjusts range predictions based on towing. Aerodynamics and efficiency of the trailer will all determine how much range is sacrificed but with over 300 miles to start with, odds are it will get you where you are towing.
NACS charging
The Ioniq 9 is one of the first non-Tesla EVs to come standard with a NACS charger, meaning it can natively charge at most Tesla Superchargers. Hyundai also includes an adapter so it can charge at CCS Combo stations and use a J-1772 Level1/2 charger.
Exterior
I am torn on the exterior look of the Ioniq 9. I love the shape, which Hyundai says is reminiscent of the aerodynamic hull of a sailing ship. I love the pixel lights that have become iconic in Hyundai’s EV lineup. Even the overall silhouette, something that Hyundai calls “Aerosthetic”—a harmonious blend of aerodynamics and aesthetics— is pretty incredible.
But I don’t love some of the design ornaments–like the cutout pieces over the front and back wheels. While I realize that seems like a nit-pick, I can’t unsee it. It is more subdued in the darker colors, however.
Pricing: starts at $58,955 for the RWD S trim and goes up to $76,490 for the Performance Calligraphy Design AWD trim. Eligible for $7500 Federal tax credit and various state/local and utility discounts.
Electrek’s take
I really love this take on the 3rd row electric SUV. Would I take the Ioniq 9 off-road like a Rivian? No. Does it accelerate like a Telsa Model X? No.
However, it does everything most third-row SUV owners expect, and it does it quietly and effortlessly. For those looking for a luxurious 3-row electric SUV with an interior that rivals the comfort of a minivan, you have to put the Hyundai Ioniq 9 at the top of your list.
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That larger Honda electric SUV may be a pipe dream after all. Honda follows Ford, Toyota, and other automakers in adjusting major EV plans in the US.
Honda scraps plans for a larger electric SUV
Although Honda’s first electric SUV, the Prologue, was one of the top-selling EVs in the US last year, the Japanese automaker is preparing for a slowdown.
Thanks to the Trump Administration’s recently passed “Big, Beautiful Bill,” which kills off the $7,500 federal tax credit at the end of September, Honda expects lower demand for EVs.
According to a new Nikkei report, Honda is now scrapping plans for its larger electric SUV in the US, its largest market. Instead, the company will focus on hybrid vehicles, similar to recent moves from Ford, Toyota, and others.
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Honda’s larger electric SUV was due to be released around 2027, about the same time as Ford and Toyota’s three-row EV SUVs. The upcoming Honda 0 Series electric SUV and sedan are still set to arrive starting next year.
Honda announced earlier this year that it is reducing its planned EV investments by $21 billion through 2030, as it expects lower demand. Like Ford and Toyota, Honda will focus on hybrids in the meantime.
Honda 0 SUV (Source: Honda)
In a separate report on June 20, Nikkei claimed that Honda and Nissan were considering a new US partnership just months after their global tie-up fell through.
Electrek’s Take
Honda is one of the few Japanese automakers to gain some momentum in the US EV market, but scrapping plans for the bigger model could put it behind rivals like Hyundai and Kia.
Through the first half of the year, Honda has sold over 16,300 Prologues in the US. In comparison, Toyota sold just over 9,200 bZ4X models.
Even Acura’s EV is seeing significantly more demand than expected. Acura sold 10,355 ZDX models in the first half of 2025, outpacing the Cadillac Lyriq, which is based on the same platform. Earlier this year, Mike Langel, vice president of national sales for Acura, told Automotive News that the company expected to sell around 1,000 ZDX models a month this year.
Honda, like most of the auto industry, is bracing for a shakeup as the Trump Administration rolls back EV incentives, putting the US on track to lag even further behind leaders like China.
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Paris’ bike-share system, Vélib has long been considered one of the shining success stories of urban micromobility. With a massive fleet of over 20,000 pedal and electric-assist bicycles around Paris, the service has helped millions of residents and tourists get around the City of Light without needing a car or scooter. But lately, a growing problem is threatening to knock the wheels off this urban mobility marvel: theft and joyriding.
According to city officials and the service operator, more than 600 Vélib bikes are now going missing every single week. That’s over 30 bikes a day simply vanishing from the system – some stolen outright, others taken on “joy rides” and never returned.
“At the moment we’re missing 3,000 bikes,” explained Sylvain Raifaud, head of the Agemob company that currently operates the Velib system. That’s nearly 15% of over 20,000 Vélib bikes across Paris.
The sticky-fingered culprits aren’t necessarily professional thieves or organized crime rings. Instead, they’re often regular users who treat the shared bikes like disposable toys.
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The city estimates that many people have figured out how to pry the bikes out of the system’s parking docks, unlocking one for a casual cruise and then ditching it somewhere far from a docking station.
Once pried free, the bikes are technically usable for the next 24 hours until their automatic locking feature kicks in. At that point, the bikes are often simply abandoned. Some end up in alleyways. Others get tossed in rivers. A few just disappear completely.
And since the bikes are intended to be parked at their many docking stations around the city, they don’t have GPS chips, further complicating recovery of “liberated” bikes.
The issue started small but has grown into more than an inconvenience – it’s beginning to undermine the entire purpose of the service. With bikes going missing at such a high rate, many Vélib docking stations are left empty, especially during rush hours.
Riders looking for a quick commute or a convenient hop across town are increasingly finding themselves without available bikes, or having to walk long distances to find a functioning one.
That kind of unreliability chips away at user confidence and threatens to drive potential riders back into cars, cabs, or other less sustainable forms of transport at a time when Paris has already made great strides to dramatically reduce car usage in the city.
The losses are financially painful, too. Replacing stolen or vandalized bikes isn’t cheap, and the resources spent on tracking down missing equipment or reinforcing anti-theft measures are stretching thin. Vélib has faced theft and vandalism issues before, especially during its early years, but this latest surge has officials sounding the alarm with renewed urgency.
Officials acknowledge that there’s no easy fix. Paris, like many cities with bike-share systems, walks a fine line between accessibility and accountability. Part of what makes Vélib so successful is its ease of use and widespread availability. But those same features make it vulnerable to misuse – especially when enforcement is limited and the consequences for abuse are minimal.
The timing of the problem is especially unfortunate. In recent years, Paris has seen impressive results in reducing car traffic, expanding bike lanes, and promoting cycling as a key part of its sustainable transport strategy. Vélib is a cornerstone of that plan. But if the system becomes too unreliable, it risks losing the very people it was designed to serve.
Meanwhile, as Parisians increasingly find themselves staring at empty docks, the challenge for the city and Vélib will be to restore confidence in the system without making it harder to use. That means striking the right balance between freedom and responsibility, between open access and protection against abuse.
In a city where cycling is supposed to be the future of mobility, losing thousands of bikes to joyriders and sticky fingers isn’t just frustrating; it’s unsustainable.
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