Hyundai Motor to Roll Out In-House Driver-Assist System in 2029

The logo of Hyundai Motor India Limited is seen outside a car showroom, in Ahmedabad, India, October 7, 2024. (Reuters)
The logo of Hyundai Motor India Limited is seen outside a car showroom, in Ahmedabad, India, October 7, 2024. (Reuters)
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Hyundai Motor to Roll Out In-House Driver-Assist System in 2029

The logo of Hyundai Motor India Limited is seen outside a car showroom, in Ahmedabad, India, October 7, 2024. (Reuters)
The logo of Hyundai Motor India Limited is seen outside a car showroom, in Ahmedabad, India, October 7, 2024. (Reuters)

Hyundai Motor Group ‌will launch vehicles equipped with its proprietary driver-assistance software in late 2029, two years later than planned, turning to Nvidia in the interim to accelerate deployment.

The South Korean automaker will partner with the US chipmaker to roll out advanced driver-assistance systems (ADAS), known as Level 2+ and Level 2++, in 2028, a Hyundai executive said.

The shift underscores the challenges Hyundai faces in developing automated driving software in-house, a project originally slated for a late-2027 debut, while raising concerns over its deepening reliance on Nvidia.

The delay has fuelled worries that the automaker could ‌fall further behind Tesla ‌and Chinese rivals in the race to commercialise ‌vehicle ⁠autonomy.

"Our partnership with ⁠Nvidia is not about leaving our destiny entirely in their hands," Park Min-woo, a president at Hyundai Motor Group, told a media briefing.

Park said Hyundai will co-design the technology with Nvidia and use the data from the system to train and refine its own software platform, dubbed Atria.

Park, a former Nvidia executive who joined Hyundai in January, ⁠has spearheaded the automaker's deepening ties with the chipmaker. ‌His strategy marks a shift ‌from that of his predecessor, Song Chang-hyeon, who focused heavily on internal software development ‌before his abrupt departure in December.

Hyundai vehicles powered by ‌Nvidia's Hyperion 10 platform will initially bypass expensive lidar sensors in favour of cameras, ultrasonic sensors and a radar, Park said.

However, Hyundai is considering lidar for its Level 3 automated systems, which allow hands-off driving under specific conditions.

"To ‌truly ensure safety, we believe sensor redundancy is critical: if one sensor fails, others must be able ⁠to maintain safe ⁠operation," Park said, without providing a timeline for Level 3 commercialisation.

Hyundai and affiliate Kia Corp, which together rank as the world's third-largest automaker with annual sales exceeding 7 million vehicles, plan to use their global fleet scale to harvest data to train their autonomous driving technology, Park said. Hyundai said it expects to surpass competitors in accumulated driving data by 2033.

Hyundai Motor Group is deepening collaboration with Nvidia spanning autonomous driving, artificial intelligence data centers and humanoid robots developed by Hyundai-owned Boston Dynamics.

"Level 2+" generally refers to more capable driver-assistance systems that work on highways, while "Level 2++" systems can handle more complex urban driving, similar to Tesla's Full Self-Driving system. Both still require driver supervision.



IEA Ready to Go if Further Oil Stocks Release Needed, Chief Says

A pumpjack operates after sunrise in Kern County, which has a long history of oil production, in California's 22nd Congressional District on October 16, 2026 near Bakersfield, California. (Getty Images/AFP)
A pumpjack operates after sunrise in Kern County, which has a long history of oil production, in California's 22nd Congressional District on October 16, 2026 near Bakersfield, California. (Getty Images/AFP)
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IEA Ready to Go if Further Oil Stocks Release Needed, Chief Says

A pumpjack operates after sunrise in Kern County, which has a long history of oil production, in California's 22nd Congressional District on October 16, 2026 near Bakersfield, California. (Getty Images/AFP)
A pumpjack operates after sunrise in Kern County, which has a long history of oil production, in California's 22nd Congressional District on October 16, 2026 near Bakersfield, California. (Getty Images/AFP)

The International Energy Agency is ready to go if a further release of oil from members' emergency oil reserves is needed, the agency's top official said on Tuesday.

The IEA decided last week to accelerate the release of oil remaining from a record emergency reserves release pledged in March, including more than 20 million barrels of diesel as soon as possible to boost supply ‌and cool ‌soaring prices.

"If it is needed...and if ‌our ⁠countries consider it’s ⁠time to push the button, as the International Energy Agency, we are ready to go,” IEA Executive Director Fatih Birol said at a conference in London organized by the Financial Times, when asked about the prospect of an additional release.

The timeline for the ⁠release of 20 million barrels of ‌diesel depends on individual countries, ‌he said, without giving a specific timeframe.

"How much is ‌released and when depends on the countries, depends on ‌the situation of winter markets," Birol said.

War in Iran and conflict in Ukraine have disrupted oil supplies, sending diesel prices to record highs in many markets and turning ‌the fuel that underpins trucking, agriculture and industry into a political and economic ⁠concern.

"We’re trying ⁠to front-load those diesel deliveries,” Birol added.

Brent crude oil rose to more than $111 a barrel on Tuesday, a five-month high. European benchmark diesel futures were trading at $1482.25 per metric ton, up almost 4% since the IEA’s decision on Thursday.

The IEA coordinates industrialized nations' releases of oil from emergency stocks. In March, countries had pledged to release more than 400 million barrels of crude and oil products as prices soared.

Members have so far released 80% of the 400 million barrels, Birol said.


Kurdistan-focused Oil Firms Gulf Keystone, ShaMaran Agree $601 Million Merger

An oil field in the Kurdistan Region of Iraq (Reuters)
An oil field in the Kurdistan Region of Iraq (Reuters)
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Kurdistan-focused Oil Firms Gulf Keystone, ShaMaran Agree $601 Million Merger

An oil field in the Kurdistan Region of Iraq (Reuters)
An oil field in the Kurdistan Region of Iraq (Reuters)

UK-listed Gulf Keystone Petroleum said on Tuesday it will merge with Norway's ShaMaran Petroleum in a $601 million all-share deal, creating one of the largest oil producers in Iraq's Kurdistan region.

Under the agreement, ShaMaran shareholders will receive 0.07533958 Gulf ⁠Keystone shares for ⁠each ShaMaran share held.

Following completion of deal, shareholders of each company will own about 50% of the combined ⁠company.

Gulf Keystone intends to move its primary listing to Euronext Oslo Børs' main list and eventually discontinue its London listing, the company said.

The merger comes as dealmaking among Middle East-focused oil companies gathers pace, supported ⁠by ⁠higher oil prices stemming from the Middle East war.

Gulf Keystone's London-listed peer Genel Energy is competing with Norway's DNO to acquire Capricorn Energy, Reuters reported.

Gulf Keystone, Genel, DNO and ShaMaran all operate in Iraq's oil-rich Kurdistan region.


Macron Secures 200,000 Tons of Extra Diesel Per Month from UAE, Bahrain

France's President Emmanuel Macron attends a meeting with the UAE president at Qasr al-Watan presidential palace in Abu Dhabi on October 19, 2026. (Photo by Benoit Tessier / POOL / AFP)
France's President Emmanuel Macron attends a meeting with the UAE president at Qasr al-Watan presidential palace in Abu Dhabi on October 19, 2026. (Photo by Benoit Tessier / POOL / AFP)
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Macron Secures 200,000 Tons of Extra Diesel Per Month from UAE, Bahrain

France's President Emmanuel Macron attends a meeting with the UAE president at Qasr al-Watan presidential palace in Abu Dhabi on October 19, 2026. (Photo by Benoit Tessier / POOL / AFP)
France's President Emmanuel Macron attends a meeting with the UAE president at Qasr al-Watan presidential palace in Abu Dhabi on October 19, 2026. (Photo by Benoit Tessier / POOL / AFP)

French President Emmanuel Macron has secured the delivery of an additional 200,000 tons of diesel per month from the United Arab Emirates and Bahrain during a tour of the Gulf, the French presidency said Tuesday.

He obtained commitments for around 100,000 tons per month from the Emirates, while an additional 100,000 tons monthly will be secured during a stop in Bahrain later in the day, AFP quoted the Elysee Palace as saying.

With the addition of deliveries from Saudi Arabia, France has commitments for 295,000 tons per month, representing just over 10 percent of its consumption, the presidency added.

Kuwait has also given "very clear commitments" to deliver diesel and kerosene to the French overseas territories of Mayotte and Reunion in the Indian Ocean, the French presidency said.

Talks are underway with countries in the region to bring down maritime insurance prices so that companies can ship greater quantities through the strait at lower cost, the palace said.

"In this way, we are strengthening our energy security with these long-term commitments from our partners," it added.