China

Subsea7 has secured a subsea installation contract from LLOG for the Buckskin South project, scheduled for execution between 2026 and 2027, strengthening its position in the Gulf of Mexico and boosting its order book visibility.
Global crude oil production is expected to rise by 0.8 million barrels per day in 2026, with Brazil, Guyana and Argentina contributing 50% of the projected increase.

US oil blockade on Venezuela disrupts maritime shipments

Interceptions of ships linked to Venezuelan oil are increasing, pushing shipowners to suspend operations as PDVSA struggles to recover from a cyberattack that disrupted its logistical systems.
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The Trump administration has ordered the immediate halt of five major offshore wind construction sites in the Atlantic, citing national security threats and drawing mixed reactions from industry and political circles.
Policy reversals, reduced performance and corporate disengagement marked an unprecedented slowdown in wind power in 2025, although China continued its expansion at a steady pace.

Harbour Energy acquires LLOG Exploration for $3.2bn to boost reserves

Harbour Energy acquires US offshore operator LLOG for $3.2bn, adding 271 million barrels in reserves and establishing a fifth operational hub in the Gulf of Mexico.
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European Energy increases the capacity of its Måde Power-to-X site to 8.1 MW, with a new electrolyser in service and ongoing tests for commercial production in 2026.
China's electricity market overhaul improves the profitability of energy storage, supporting a rapid increase in battery exports as global demand rises with data centres and power grids.

CNOOC launches ninth offshore project in 2025 in the South China Sea

Chinese oil group CNOOC continues its expansion strategy with a new production start-up in the Pearl River Basin, marking its ninth offshore launch in 2025.
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T1 Energy will supply Treaty Oak with 900MW of solar modules over three years, leveraging domestically produced cells from Austin to meet increasing regulatory requirements.
Baker Hughes will deliver six gas refrigeration trains for Commonwealth LNG’s 9.5 mtpa export project in Louisiana, under a contract with Technip Energies.

The United States hunts a third tanker tied to Venezuela’s shadow fleet

After two seizures in ten days, U.S. authorities are pursuing another tanker suspected of evading sanctions. Maritime tracking data and official statements point to intensified controls on crude cargoes linked to Venezuela.
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Trump Media & Technology Group and TAE Technologies unite in a transaction valued at USD6 billion to launch one of the first publicly traded companies focused on fusion energy.
Caracas says Iran has offered reinforced cooperation after the interception of two ships carrying Venezuelan crude, amid escalating tensions with the United States.

Washington seizes second Venezuela-linked oil tanker in the Caribbean

US authorities intercepted a second oil tanker carrying Venezuelan crude, escalating pressure on Caracas amid accusations of trafficking and tensions over sanctioned oil exports.
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Facing a rapid increase in demand across industrial corridors, the Kenyan government is restructuring its power grid to accelerate connections, reduce technical losses and integrate new digital tools.
Shanghai Electric begins a combined-cycle expansion project across four Iraqi provinces, aiming to boost energy efficiency by 50% without additional fuel consumption.

Awendio Solaris to invest CAD1bn in integrated solar plant in Montreal

UK-based manufacturer Awendio Solaris plans to build a 2.5 GW solar industrial platform, expandable to 5 GW, in Quebec, targeting North American markets with a 100% regional supply chain.
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Zefiro Methane, through its subsidiary Plants & Goodwin, completes an energy conversion project in Pennsylvania and plans a new well decommissioning operation in Louisiana, expanding its presence to eight US states.
RWE signed a 15-year power purchase agreement with Indiana Michigan Power for the Prairie Creek project, aimed at supporting Indiana’s growing electricity demand starting in 2028.
Natural Gas Services Group reported a strong third quarter, supported by fleet expansion and rising demand, leading to an upward revision of its full-year earnings outlook.
Shell Pipeline has awarded Morrison the construction of an elevated oil metering facility at Fourchon Junction, a strategic project to strengthen crude transport capacity in the Gulf of Mexico.

IonQ partners with University of Chicago to build next-generation quantum platform

IonQ will deploy a quantum computer and entanglement distribution network at the University of Chicago, strengthening its technological presence within the Chicago Quantum Exchange and accelerating its product roadmap.
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The delay rate for large-scale photovoltaic projects in the United States fell to 20% in Q3 2025, down from 25% a year earlier, despite record growth in installed capacity in 2024.
An arrest warrant has been issued against Timipre Sylva over the alleged diversion of public funds intended for a modular refinery. This new case further undermines governance in Nigeria’s oil sector.

Beijing opens major energy projects to private capital to revive investment

Chinese authorities authorise increased private sector participation in strategic energy projects, including nuclear, hydropower and transmission networks, in an effort to revitalise slowing domestic investment.
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Plug Power plans to generate $275mn by divesting assets and reallocating investments to the data center market, as part of a strategy focused on returns and financial discipline.
Texas-based energy solutions provider VoltaGrid secures record mixed financing to expand its decentralised power generation portfolio, primarily targeting hyperscale data centres.

Enveniam appointed lead integrator for LIST Technologies’ laser uranium enrichment project

US-based Enveniam has signed an agreement with LIS Technologies Inc. to oversee the design and construction of a new laser-based uranium enrichment facility on American soil.
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In New York, Chevron outlines its long-term vision following the Hess integration, focusing on financial stability, spending reduction, and record production to consolidate investor confidence.
Faced with shorter approval timelines, several European nuclear firms, including Newcleo, Orano and Urenco, are considering relocating key industrial investments to the United States.

Sofia secures Lukoil refinery ahead of planned state takeover

The Bulgarian government has increased security around Lukoil’s Burgas refinery ahead of a state-led takeover enabled by new legislation designed to circumvent international sanctions.
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Facing surging computing needs, US tech leaders are hitting an energy wall that slows down data centre construction and revives demand for gas and coal.
Quino Energy secures $16mn in funding to scale global production of its organic electrolytes, with strategic support from investor Atri Energy Transition.

Envision and Statera partner on 680MW storage project in the United Kingdom

China's Envision Energy will supply a 680MW battery storage system to UK-based Statera Energy as part of the Carrington project, one of the largest in the country to reach financial close.
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Chinese group Jinhong Gas finalises a new industrial investment in Spain, marking its first European establishment and strengthening its global strategy in the industrial gas sector.
Fusion Fuel Cycles has begun work on its UNITY-2 facility, a unique test bench designed to validate the full tritium fuel cycle under fusion conditions, marking a key step toward fusion energy.

CBAK Energy posts 36.5% revenue increase in Q3 driven by Hitrans

Driven by the recovery in the raw materials market, CBAK Energy posted a sharp rise in revenue in the third quarter, while its battery business enters a complex industrial transition.
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The Chinese giant targets 120 kt of SAF trading in 2025 and expands into European carbon markets, banking on ReFuelEU and CORSIA mandates to capture growing regulated demand.
COP30 begins in Belém under uncertainty, as countries fail to agree on key discussion topics, highlighting deep divisions over climate finance and the global energy transition.