Iraq

Berlin strengthens its cooperation with Abuja through funding aimed at supporting Nigeria’s energy diversification and consolidating its renewable infrastructure.
Shell withdraws from two floating wind projects in Scotland, reinforcing capital discipline in favour of faster-return activities. ScottishPower takes over MarramWind while CampionWind is returned to Crown Estate Scotland for reallocation.

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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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.
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.

Vallourec to deliver over 30,000 tonnes of pipes for TotalEnergies in Iraq

TotalEnergies has tasked Vallourec with supplying tubular solutions for drilling 48 wells as part of its integrated gas project in Iraq, reinforcing their ongoing industrial cooperation on the Ratawi field.
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Fluor Corporation will lead the front-end engineering of a UK sustainable aviation fuel plant led by LanzaJet and British Airways, with planned output of over 90,000 tonnes per year.
Shell launches a bond exchange offer on six USD-denominated series to restructure $8.4bn in debt through its newly formed entity Shell Finance US.

Ørsted deepens losses in the third quarter despite major fundraising

Danish offshore wind giant Ørsted reported a net loss of 1.7 billion kroner in the third quarter, despite a $9.4 billion recapitalisation aimed at strengthening its balance sheet and stabilising operations.
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The UK’s Sizewell C project reaches a key milestone with a financing boost from EDF, including a loan guaranteed by Bpifrance and backing from the National Wealth Fund, with an estimated total cost of GBP38bn ($48.19bn).
Danish Ørsted has signed an agreement with Apollo to sell a 50% stake in its Hornsea 3 offshore wind farm in the UK, in a strategic transaction valued at approximately DKK 39 billion ($5.43bn).

Western sanctions disrupt Lukoil’s international operations

Sanctions imposed by the U.S. and the U.K. are paralyzing Lukoil's operations in Iraq, Finland, and Switzerland, putting its foreign businesses and local partners at risk.
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BP reported a net profit of $1.16 billion in the third quarter, five times higher than in 2024, thanks to strong results in refining and distribution, despite a decline in oil prices.
The UK's Office for Nuclear Regulation has granted formal consent to EDF Energy to decommission the Hinkley Point B nuclear power plant in Somerset, England, following its permanent shutdown in August 2022.

Shell launches a large debt exchange offer for $8.4 billion of dollar-denominated bonds

Shell restructures six series of bonds through an exchange offer, migrating them to its U.S. subsidiary to optimize its capital structure and align its debt with its U.S. operations.
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BP sells non-controlling stakes in its Permian and Eagle Ford midstream infrastructure to Sixth Street for $1.5 billion while retaining operational control.
Eos Energy and Frontier Power strengthen their collaboration with a major first order under a 5 GWh framework agreement to deploy long-duration storage systems across multiple energy markets.

Amentum secures key contracts under £1.4bn Sellafield nuclear programme

US-based Amentum has secured strategic roles on a 15-year decommissioning framework in the United Kingdom, potentially worth up to £1.4bn ($1.9bn), through multiple projects at the Sellafield site.
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Swedish group Vattenfall improves its underlying operating result despite the end of exceptional effects, supported by nuclear and trading activities, in a context of strategic adjustment on European markets.
The British government confirms its ambition to decarbonise the power sector by 2030, despite political criticism and concerns over consumer energy costs.
The United Kingdom is set to replace the Energy Profits Levy with a new fiscal mechanism, caught between fairness and simplicity, as the British Continental Shelf continues to decline.
Octopus Energy strengthens its presence in Spain with three new energy projects totalling 600 MW, powering 2.3 million households and accelerating the expansion of its European renewables portfolio.

ScottishPower halts green hydrogen projects despite public funding

ScottishPower pauses its renewable hydrogen projects in the United Kingdom, despite receiving public subsidies, citing a lack of commercial viability under the HAR1 programme.
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Shell ends construction of its biofuels plant in the Netherlands, citing low competitiveness, while reinforcing its oil activities, raising questions over its previous energy commitments.
US-based Westinghouse has signed six industrial agreements in the UK to supply critical components for its AP1000 and AP300 nuclear projects in Britain and abroad.

Dr Sultan Al Jaber wins ICIS CEO of the Year 2025 award for strategic performance

ADNOC Group CEO Dr Sultan Al Jaber has been named 2025 CEO of the Year by his global chemical industry peers, recognising his role in the company’s industrial expansion and international investments.
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GH2 Solar Ltd partners with AHES Ltd to build an electrolyzer plant in Gwalior, targeting 500 MW capacity by 2030 with $19mn government support.
EDF extends the operation of Heysham 1 and Hartlepool by one year after favourable safety inspections, ensuring continuity of nuclear production and safeguarding more than 1,000 jobs.

Aramco and SOMO suspend crude supplies to India’s Nayara Energy

Saudi and Iraqi exporters halted supplies to Nayara Energy, forcing the Rosneft-controlled Indian refiner to rely solely on Russian crude in August.
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Russia and Iran seek to strengthen their nuclear cooperation as the E3 activates the sanctions mechanism against Tehran, reigniting tensions over compliance with the 2015 Vienna agreement.
The three European powers activate the UN sanctions mechanism against Iran, increasing pressure on the country's oil exports as Tehran maintains high production despite Western measures.

AP1000 reactor certification extended in the US until 2046

The United States Nuclear Regulatory Commission has granted a 40-year extension for the AP1000 reactor design certification, supporting its long-term construction domestically and deployment abroad.
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Bp has awarded Baker Hughes a long-term service agreement for the Tangguh liquefied natural gas plant, covering spare parts, maintenance and technical support for its turbomachinery equipment.
CNOOC Limited has signed two production sharing contracts with SKK Migas to explore the Gaea and Gaea II blocks in West Papua, alongside EnQuest and Agra.

Vattenfall selects GE Vernova and Rolls-Royce for future nuclear reactors

Vattenfall advances its nuclear project in Sweden by selecting two modular reactor suppliers, GE Vernova and Rolls-Royce SMR, for a potential installation on the Värö Peninsula.
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Verra and S&P Global Commodity Insights join forces to build a next-generation registry aimed at strengthening carbon market integration and enhancing transaction transparency.
Buchan Offshore Wind has submitted its marine consent applications to the Scottish authorities for a large-scale floating wind project, marking a strategic step in energy development in northeast Scotland.

Ithaca Energy doubles production in H1 2025 and raises its forecasts

Thanks to strong operational performance, Ithaca Energy recorded record production in the first half of 2025, supporting improved annual guidance and significant dividend distributions.
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Masdar has allocated the entirety of its 2023–2024 green bond issuances to solar, wind, and storage energy projects, while expanding its financial framework to include green hydrogen and batteries.
Energiekontor launches a €15 million corporate bond at 5.5% over eight years, intended to finance wind and solar projects in Germany, the United Kingdom, France, and Portugal.