Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.
Commodities trader Gunvor confirmed that the assets acquired from Lukoil will not return under Russian control, despite potential sanction relief, amid growing regulatory pressure.
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.
Swiss trader Gunvor will acquire Lukoil’s African stakes as the Russian company retreats in response to new US sanctions targeting its overseas operations.
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.
Nala Renewables strengthens its position in Finland with the acquisition of a battery energy storage portfolio exceeding 250 MW from Swiss developer Fu-Gen AG.
Article 6 converts carbon credits into a compliance asset, driven by sovereign purchases, domestic markets, and sectoral schemes, with annual demand projected above 700 Mt and supply constrained by timelines, levies, and CA requirements.
Nel Hydrogen US will supply a containerised electrolyser to H2 Energy for a hydrogen production facility commissioned by the Association for Waste Disposal in Buchs, Switzerland.
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.
Energy group Axpo is considering a new installation of three wind turbines in Wil, aimed at powering around 5,000 households and strengthening Switzerland's winter electricity production.
Vitol strengthens its presence in West Africa by acquiring a 30% stake in the Baleine oil field from Eni, while maintaining an active role in the country’s offshore development.
Swiss energy company MET strengthens its footprint in Central and Southeast Europe with the full acquisition of MET Slovakia and the launch of a new operational subsidiary in Albania.
UK-based Gresham House will acquire Swiss investment manager SUSI Partners, strengthening its international footprint in energy transition infrastructure.
Facing falling Chinese prices and unstable energy policies in the United States, Swiss solar module manufacturer Meyer Burger announces the end of its recovery efforts.
A long-term tolling agreement between Zelestra and BKW targets the construction of a 2 GWh battery energy storage system in northern Italy, with full commissioning scheduled for 2028.
Vema Hydrogen mobilise des experts internationaux pour accélérer la mise sur le marché de son hydrogène minéral, alors que l’entreprise prévoit de forer ses premiers puits pilotes en Amérique du Nord d’ici la fin de l’année.
Iran once again authorises the International Atomic Energy Agency to inspect its nuclear sites, following a suspension triggered by a dispute over responsibility for Israeli strikes.
