Azerbaijan

Used oil imports multiply twentyfold under pressure from biofuels

Global demand for biofuels is driving a sharp increase in used oil imports to Europe and the United States, straining global feedstock supply chains, according to the International Energy Agency.

CMSI opens final consultation on global consolidated mining standard

CMSI launches a public consultation until 17 November to finalise a common mining standard designed to simplify industrial requirements and strengthen global adoption.

Gwynt Glas secures key lease for 1.5GW floating wind farm off Welsh coast

Developer Gwynt Glas enters development phase after signing a lease agreement with The Crown Estate, paving the way for a 1.5GW floating offshore wind project in Welsh waters.
en_114081043540

Ineos cuts 60 jobs in the UK and calls for antidumping duties

Amid rising energy costs and a surge in cheap imports, Ineos announces a 20% workforce reduction at its Hull acetyls site and urges urgent action against foreign competition.

France blocks Aquind’s €1.4bn power link project across the Channel

The Seine-Maritime prefecture denies Aquind access to public maritime domain, halting a €1.4bn ($1.47bn) Franco-British power interconnection project.

New Fortress Energy initiates commissioning of 624 MW CELBA 2 power plant in Brazil

New Fortress Energy has initiated the initial ignition of its 624 MW CELBA 2 power plant in Brazil, starting the commissioning phase ahead of commercial operations expected later this year.
en_114071062540

United Kingdom opens public consultation on Rolls-Royce modular reactor

The British government has launched a consultation on the regulatory justification request for Rolls-Royce’s modular reactor, a decisive step towards its approval in the country’s nuclear market.

Global green ammonia market to reach $38.5bn by 2033, driven by large-scale projects

Green ammonia reaches a new industrial milestone with 428 active projects and over $11bn in investments, highlighting accelerated sector growth across Asia, the Middle East, Europe and the Americas.

ITM Power signs FEED contract for green hydrogen project in the United Kingdom

UK-based manufacturer ITM Power has signed an engineering contract for a green hydrogen project shortlisted under the country's second Hydrogen Allocation Round.
en_114061033540

France: SNCF signs two 25-year solar contracts with Octopus and BayWa r.e.

SNCF Voyageurs secures direct solar electricity supply from two plants owned by Octopus Energy and BayWa r.e., through 25-year agreements aimed at powering its rail network.

Wood Mackenzie: the UK can double North Sea reserves without breaching climate limits

An analysis by Wood Mackenzie shows that expanding UK oil and gas production would reduce costs and emissions while remaining within international climate targets.

Opec+ raises production by 137,000 barrels per day in November

Opec+ slightly adjusts its quotas for November, continuing its market share recovery strategy amid stagnant global demand and a pressured market.
en_114061057540

Arabelle Solutions secures contract for Sizewell C turbines

EDF has selected Arabelle Solutions to supply two complete turbine islands for the Sizewell C nuclear power plant, strengthening their industrial cooperation initiated at Hinkley Point C.

J&F Investimentos targets EDF’s thermal plant amid Brazil’s booming energy M&A

Brazilian holding J&F Investimentos is in talks to acquire EDF’s Norte Fluminense thermal plant, valued up to BRL2bn ($374 million), as energy-related M&A activity surges across the country.

Clariant targeted by BP and ExxonMobil in ethylene case

The Swiss chemical group faces two new lawsuits filed in Germany, bringing the total compensation claims from oil and chemical companies to over €3.5bn ($3.7bn) in the ethylene collusion case.
en_114051034540

Iberdrola adds 708 MW of solar capacity to joint venture with Norges Bank

Iberdrola strengthens its partnership with Norges Bank Investment Management by adding two Spanish photovoltaic plants, raising joint operational capacity to 900 MW.

India risks regulatory setback on ethanol as Brazil consolidates SAF lead

India holds a surplus of ethanol that could support SAF production, but unclear sugarcane feedstock rules limit commercial development.

Marubeni creates power trading joint venture with SmartestEnergy in Japan

Marubeni Corporation has formed a power trading unit in joint venture with UK-based SmartestEnergy, targeting expansion in Japan’s fast-changing deregulated market.
en_11403102037540

Shell starts production at Victory gas field in the North Sea

Shell UK has started production at the Victory field north of Shetland, integrating its volumes into the national gas network through existing infrastructure to strengthen UK supply.

Bulgaria begins talks for the deployment of small modular reactors

The Ministry of Energy will initiate talks with developers of small nuclear reactors after signing a cooperation agreement with the United States to conduct preliminary studies on their deployment.

Iberdrola raises $5.9 billion to strengthen its grids in the UK and the US

Iberdrola launches a EUR5 billion (USD5.87 billion) capital increase to fund the expansion and modernization of its power grids in the UK and the US, while announcing a decline in its half-year profit.

ScottishPower completes the installation of the first section of export cable for East Anglia Three

The first section of the export cable for the East Anglia Three offshore wind farm has been installed, marking a key milestone in the interconnection project between the offshore site and the UK's onshore grid.

The UK creates a legislative framework to accelerate nuclear fusion projects

The UK government is introducing specific rules to facilitate the development of nuclear fusion projects, aiming to position the UK as a global leader in this emerging technology.
en_114024072054540

The tech sector urged to accelerate the energy transition amid rising demand

The growth of data centres and artificial intelligence is putting unprecedented pressure on global electricity grids, prompting major tech companies to rethink their energy supply to address capacity and competitiveness challenges.

Galp Energia reports a 25% increase in net profit for Q2 2025

Portuguese group Galp Energia announced an adjusted net profit of €373 million for Q2 2025, a 25% increase from the previous year, driven by higher hydrocarbon production in Brazil.

BP appoints Albert Manifold as chairman following Helge Lund’s departure

BP announces the appointment of Albert Manifold as chairman, succeeding Helge Lund. Manifold, former CEO of CRH, will join the board on September 1, before officially taking over the role on October 1.
en_114022072027540

Trump to impose 100% tariffs on buyers of Russian oil

US Senator Lindsey Graham announced that President Donald Trump plans to impose 100% tariffs on countries purchasing Russian oil, including China, India, and Brazil.

OVO launches new subsidiary dedicated to onshore wind farm repowering in the United Kingdom

Energy supplier OVO plans to invest several hundred million pounds in the renovation of British wind farms, aiming to increase national capacity and accelerate the country’s energy transition.

bp sells its US onshore wind assets to LS Power as part of divestment strategy

bp has announced the sale of its US onshore wind operations to LS Power, strengthening the American group’s 21GW portfolio and continuing its global asset divestment strategy.
en_114020072035540

COP30 under pressure: Bonn negotiations reveal persistent divides

Technical discussions in Bonn exposed deep financial rifts between developed and developing countries, raising questions about the COP process’s effectiveness months ahead of the Belém summit.

Subsea7 secures EPCI contract for Equinor’s Fram Sør gas development

Subsea 7 S.A. has announced a major contract signed with Equinor for the engineering and installation of subsea infrastructure at the Fram Sør gas field, located in the North Sea off the coast of Norway.

Azerbaijani sovereign fund acquires stake in 402 MW solar assets in Italy

SOFAZ acquires 49% of a 14-plant solar portfolio held by Enfinity Global in Lazio and Emilia-Romagna, reinforcing its long-term stable investment strategy.
en_114020072040540

Iberdrola secures €2.5bn credit line from 32 international banks

Iberdrola strengthens its financial position with a new five-year credit facility, signed with 32 banks, to support investments in power grids and renewable energy, particularly in the United States.

Drax strengthens its lead as the UK’s top carbon emitter in 2024

Drax’s generation site recorded a 16% rise in its emissions, consolidating its position as the UK’s main emitter, according to analysis published by think tank Ember.

Syzygy Plasmonics and Velocys launch pioneering 500,000-gallon SAF project in Uruguay

Syzygy Plasmonics selects Velocys Fischer-Tropsch technology to equip the first commercial NovaSAF 1 plant, turning dairy waste biogas into sustainable aviation fuel.
en_114017072051540

UK and Czech Republic sign agreement to accelerate civil nuclear development

London and Prague formalise a strategic partnership to develop the nuclear sector, focusing on small modular reactors and industrial cooperation on supply chains.

OPEC Cuts Forecasts but Anticipates Rising Oil Demand

OPEC slightly adjusts its production forecasts for 2025-2026 while projecting stable global demand growth, leaving OPEC+ significant room to increase supply without destabilizing global oil markets.

Global business leaders gather in Beijing for inaugural SMI China forum on sustainable innovation

The SMI China Forum brings together international and Chinese leaders for dialogue on supply chains, investment and energy innovation, marking a major step in public-private sector cooperation.
en_114016072038540

Brasilia Prepares Trade Countermeasures Amid New U.S. Tariffs of 50%

Brazil adopts new rules allowing immediate commercial measures to counter the U.S. decision to impose an exceptional 50% customs tariff on all Brazilian exports, threatening stability in bilateral trade valued at billions of dollars.

BP raises second-quarter production forecast driven by US shale growth

BP revised upwards its production forecast for the second quarter of 2025, citing stronger-than-expected results from its US shale unit. However, lower oil prices and refinery maintenance shutdowns weighed on overall results.