Iran

Trump says Modi will stop Russian oil purchases amid rising tensions

Donald Trump says he secured Narendra Modi’s commitment to end Russian oil imports, adding political pressure to India-Russia trade relations.

JPMorganChase and Carbon Direct publish framework to integrate biodiversity in voluntary carbon credits

Carbon Direct and JPMorganChase have released a guide to help voluntary carbon market stakeholders develop biodiversity-focused projects while meeting carbon reduction criteria.

Oklo and newcleo announce $2bn nuclear partnership to strengthen US fuel supply

Oklo, newcleo and Blykalla partner to develop advanced nuclear fuel infrastructure in the United States, backed by a planned $2bn investment.
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United States secures postponement of carbon tax vote at the IMO

Under intense diplomatic pressure from Washington, member states of the International Maritime Organization agreed to postpone by one year the adoption of a carbon pricing mechanism for global maritime transport.

Trump authorises CIA covert operations targeting Venezuela

Washington confirms it has mandated the CIA to carry out secret actions against Nicolas Maduro’s government, escalating tensions between the United States and Venezuela amid geostrategic and energy stakes.

US crude oil inventories rise by 3.5 million barrels against expectations

Commercial crude reserves in the United States posted an unexpected increase, reaching their highest level in over a month due to a marked slowdown in refinery activity.
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U.S. ethane exports to rise 30% by 2026

Rising terminal capacity and sustained global demand, notably from China and Europe, are driving U.S. ethane exports despite new regulatory uncertainties.

Global copper demand projected to grow 24% by 2035

The rise of data centres, electrification, Asian industrialisation and military spending are reshaping global copper market dynamics, while insufficient mining investment could increase price volatility.

Lyten restarts BESS production in Gdańsk after acquiring Northvolt facility

Lyten has completed the acquisition of the Northvolt Dwa site in Poland, Europe’s largest energy storage system factory, and plans to deliver its first commercial units before the end of 2025.
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China rejects US pressure over Russian oil imports

Beijing calls Donald Trump's request to stop importing Russian crude interference, denouncing economic coercion and defending what it calls legitimate trade with Moscow.

Washington urges Japan to cut energy ties with Russia

The United States has called on Japan to stop importing Russian gas, amid rising tensions over conflicting economic interests between allies in response to the indirect financing of the war in Ukraine.

Trump reignites tensions over India’s imports of Russian oil

India faces mounting pressure from the United States over its purchases of Russian oil, as Donald Trump claims Prime Minister Narendra Modi pledged to halt them.
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ABB boosted by data centre demand and beats forecasts

ABB recorded double-digit growth in sales of equipment for data centres, contributing to a 28% increase in net profit in the third quarter, surpassing market expectations.

Europe spent an extra €930bn on fossil energy between 2021 and 2024

A report highlights the financial burden of fossil imports during the energy crisis and points to electrification as key to European energy security.

Fluence to supply 640 MWh of storage to Torch Clean Energy in Arizona

The Winchester project will combine 160 MW of storage with two 80 MW solar plants in Cochise County, with delivery expected in early 2027.
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Quinbrook takes majority stake in Elemental Clean Fuels in Canada

Asset manager Quinbrook expands its North American portfolio with a first Canadian investment by acquiring a strategic stake in developer Elemental Clean Fuels.

Green Plains deploys carbon capture system at its York facility

Green Plains has commissioned a carbon capture system in York, Nebraska, marking the first step in an industrial programme integrating CO₂ geological storage across multiple sites.

VoltaGrid to supply 2,300 MW to Oracle for next-gen AI data centres

VoltaGrid partners with Oracle to deploy modular gas-powered infrastructure designed to stabilise energy use in artificial intelligence data centres while creating hundreds of jobs in Texas.
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enCore discovers three new uranium roll fronts in Texas

enCore Energy has identified three new uranium roll fronts at its Alta Mesa project, with ongoing drilling aimed at defining their extent and accelerating development work.

Nextracker and T1 Energy partner to produce US-made steel solar frames

Nextracker will supply steel frames for solar modules to T1 Energy in a multi-year deal worth over $75mn, aiming to strengthen the local solar supply chain and reduce dependence on imported aluminium.

OPEC+ prepares new production hike amid rift between Riyadh and Moscow

Eight OPEC+ countries are set to increase oil output from November, as Saudi Arabia and Russia debate the scale of the hike amid rising competition for market share.

Hungary secures 10-year LNG contract with Engie through 2038

Hungary has signed a ten-year agreement with Engie for the annual import of 400 mn m³ of liquefied natural gas starting in 2028, reinforcing its energy diversification strategy despite its ongoing reliance on Russian gas.

US energy agencies prepare to suspend operations amid budget deadlock

Facing a potential federal government shutdown, multiple US energy agencies are preparing to suspend services and furlough thousands of employees.
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EDF power solutions and El Paso Electric launch 150 MW solar facility in New Mexico

EDF power solutions and El Paso Electric have started operations at the Milagro Energy Center, combining 150 MW of solar photovoltaic capacity and 75 MW of battery storage under a 20-year power purchase agreement.

U.S. uranium purchases reach 55.9 million pounds in 2024

Uranium deliveries to U.S. civilian operators rose 8% in 2024, while the average price climbed to its highest level since 2012, according to the latest available data.

Coal expected to surpass natural gas this winter in two U.S. markets

Coal will temporarily become the main source of electricity in the Midwest markets MISO and SPP during winter, according to the latest federal forecasts.
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DRC caps cobalt exports at 96,600 tonnes until 2027

Kinshasa replaces export ban with a quota system covering just half of its output, triggering a price surge and global supply tensions.

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.
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Exxon to cut up to 500 jobs in Singapore as part of global restructuring

Exxon Mobil plans to reduce its Singapore workforce by 10% to 15% by 2027 and relocate its offices to the Jurong industrial site, as part of a strategic investment shift.

Phoenix Energy begins trading preferred shares on NYSE American under PHXE.P

Phoenix Energy raised $54.08mn through a preferred stock offering now listed as PHXE.P on NYSE American, with an initial dividend scheduled for mid-October.

Oklo and Blykalla form transatlantic alliance on modular reactor development

US-based Oklo and Sweden’s Blykalla join forces to coordinate supply chains and regulatory data sharing to accelerate the commercial deployment of their metal-cooled small modular reactors.
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Exxon requests security guarantees for Mozambique gas project

Exxon is seeking direct support from the Mozambican government to secure its Rovuma LNG project, as Islamist violence continues to hinder investment in the country’s north.

Chevron invests $690 million to revive offshore gas in Equatorial Guinea

Chevron has signed a $690 million agreement with Equatorial Guinea to develop gas from the Aseng field, amid a long-term decline in national oil production and a search for new economic drivers.

Washington eases regulation to revive coal extraction

The Trump administration plans to open millions of federal hectares to coal and ease environmental rules governing this strategic industry.
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Jolt launches advanced electrode plant at SPARK with Saudi government support

Jolt Green Chemical Industries appoints Dyar Al-Safwah to engineer a high-performance electrode facility at King Salman Energy Park, backed by the Ministry of Energy.

Occidental in talks to sell OxyChem in a $10bn deal

Occidental Petroleum is considering selling its chemical subsidiary OxyChem for $10bn, a transaction that forms part of its deleveraging strategy launched after several major acquisitions.

US energy storage hits record 5.6 GW in the second quarter

The US energy storage market set a quarterly record with 5.6 GW installed, driven by utility-scale projects despite ongoing regulatory uncertainty.
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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.

Caturus Energy deploys the most powerful onshore rig in the United States with Nabors

Caturus Energy has signed a multi-year contract with Nabors Industries to deploy a next-generation onshore rig, aimed at supporting the expansion of its gas output in the Eagle Ford and Austin Chalk formations in Texas.