Swiss trader Gunvor has withdrawn its $22bn offer to acquire Lukoil’s international assets after the US Treasury announced it would block any related operating licence.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.
The CERN and Voltalia have signed an ambitious partnership to power particle accelerators with solar energy. This 15-year contract includes two solar plants in France, cutting CO2 emissions by 8,775 tons per year.
At COP29, world leaders established the foundations for carbon markets under Article 6 of the Paris Agreement, but major challenges remain regarding integrity, demand, and national implementation.
COP29 is launching a regulatory framework for carbon credit exchanges between countries and companies under UN supervision, aiming to ensure the reliability of these transactions in the fight against climate change.
The Energy Infrastructure Partners (EIP) fund strengthens its investment in Plenitude, Eni's renewable energy subsidiary, valued at over 10 billion euros, to support its strategic growth.
The American group ExxonMobil has finalized the sale of the Fos-sur-Mer refinery to Rhône Energies, a consortium led by Trafigura, marking a step in its strategy to reduce activities in France.
Dangote denounces the import of low-quality fuel undermining the growth of his refinery in Nigeria. The lack of control infrastructure hampers the enforcement of the country’s new fuel standards.
France assures it has the necessary infrastructures to meet its gas needs this winter while supporting its European neighbors, despite potential drops in temperatures.
TPG, through its TPG Rise Climate fund, acquires the German company Techem for €6.7 billion from Partners Group. This transaction reflects the American fund’s commitment to strengthening its presence in energy efficiency solutions within the real estate sector.
Edison SpA enters the fiber optics market, adding a service to its offering for Italian households in a context of strong competition among energy suppliers.
Axpo, via its subsidiary Urbasolar, commissions a 12.8 MWp solar power plant in Beauvais.
This project contributes to the acceleration of solar power generation in France.
Kibo Energy PLC has signed a major agreement with ESGTI AG to acquire a portfolio of renewable energy projects worth 400 million euros.
This transaction raises crucial financial and strategic issues for the future of the company.
The European Union is warning that France is lagging behind in terms of renewable energies, and insisting on greater efforts to meet the common energy targets set for 2030.
Despite Western sanctions, Sovcomflot retains a significant share of Russia's non-G7 crude oil exports, exceeding 80% in August.
New U.S. sanctions increase pressure to reduce Russian revenues.
The Swiss government is considering lifting the ban on new nuclear power plants, in response to growing electricity needs and uncertainties in the energy market.
The European Bank for Reconstruction and Development (EBRD) is supporting the construction of a renewable hydrogen production unit in Uzbekistan, aimed at reducing the use of fossil hydrogen in the fertilizer industry.
Meyer Burger, Swiss manufacturer of solar panels, abandons plans for a site in Colorado, causing a 38.5% fall in its share price.
The company refocuses its operations and launches a restructuring program to reduce costs.
