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.
Baltic Storage Platform secures a record €85.6mn ($90.6mn) to develop two battery energy storage sites in Estonia, marking the first such financing in the Baltics based solely on storage revenue streams.
Swiss trader Gunvor will acquire Lukoil’s African stakes as the Russian company retreats in response to new US sanctions targeting its overseas operations.
Joint venture Baltic Storage Platform has secured €85.6mn ($90.7mn) to build two energy storage systems in Estonia, forming one of continental Europe’s largest battery complexes.
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.
GVH and Samsung C&T join forces to accelerate international deployment of BWRX-300 small modular reactors, with a strong focus on Sweden and the consolidation of the nuclear supply chain.
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.
The European Commission allocates EUR76.3mn ($80.63mn) to three projects aiming to strengthen energy interconnections between Member States, focusing on onshore and offshore wind power and decarbonised district heating.
French group Vinci, through its subsidiary Cobra IS, will electrify 870 kilometres of rail tracks across the Baltic States as part of the Rail Baltica project, in a deal worth €885mn ($944mn).
Nuclear-friendly countries are calling on financial institutions and development banks to finance nuclear infrastructure and develop small modular reactors.
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.
Nordic and Baltic gas transmission operators finalize a key study on the feasibility of a hydrogen corridor between Finland and Germany, defining the project's technical and economic parameters.
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.
Global overcapacity in the petrochemicals sector, exacerbated by Chinese expansion and energy costs in Europe, is forcing companies to undertake drastic restructuring, including plant closures and strategic consolidations.
Glencore decided to retain its coal activities, despite shareholder and environmental pressure, while leaving the door open to a possible demerger in the future.
France set a new record for electricity generation and exports in the first half of 2024, thanks to strong hydropower activity and a recovery in nuclear power, reports French electricity grid operator RTE.
The EU is adding three new renewable energy projects to the CB RES list, aimed at strengthening regional energy cooperation and supporting the transition to clean energy.
Keppel MET Renewables strengthens its solar portfolio with the acquisition of two photovoltaic projects in Northern Italy, totalling 20 MWp of installed capacity.
The boom in renewable energies is leading to an increase in negative price hours on the electricity market, highlighting the challenges of balancing the grid.
