Ukraine

Against market expectations, US commercial crude reserves surged due to a sharp drop in exports, only slightly affecting international prices.
Hull Street Energy has signed an agreement to acquire thirteen hydroelectric dams from Consumers Energy, totalling 132 MW, further consolidating its position in the North American hydro sector.

Madison Energy Infrastructure raises $800mn to support large-scale projects

US-based Madison secures $800mn debt facility to finance energy infrastructure projects and address rising grid demand across the country.
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Solar and storage accounted for 82% of new U.S. power capacity in early 2025, despite federal measures slowing their expansion.
US-based Chevron has submitted a bid with HelleniQ Energy to explore four offshore blocks south of Crete, marking a new strategic step in gas exploration in the Eastern Mediterranean.

Global wind sector targets 2 TW installed capacity by 2030 despite uncertainties

Driven by China's acceleration, global wind capacity is expected to reach 170 GW in 2025, paving the way for a doubling of installed capacity by 2032.
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Russia plans to ship 2.1 million barrels per day from its western ports in September, revising exports upward amid lower domestic demand following drone attacks on key refineries.
Iran has reached a new agreement with the International Atomic Energy Agency to formalise the resumption of inspections, following months of suspension linked to military tensions and criticism of its nuclear programme.

BlackRock and partners target $10.3 billion for Aramco gas deal financing

A consortium led by BlackRock is in talks to raise up to $10.3 billion to finance a gas infrastructure deal with Aramco, including a dual-tranche loan structure and potential sukuk issuance.
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TotalEnergies commits to Train 4 of the Rio Grande LNG project in Texas, consolidating its position in liquefied natural gas with a 10% direct stake and a 1.5 Mtpa offtake agreement.
Canadian energy producer Cordelio Power has completed commissioning of its Winfield solar project, a 150 MW facility backed by a 15-year contract with Microsoft and a $313mn structured financing deal.

Nuclearn raises $10.5mn to expand automation in nuclear power plants

US-based Nuclearn has secured $10.5mn to scale its artificial intelligence platform, already deployed in over 65 nuclear reactors, to automate critical operations amid rising energy demand.
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Start-up Dig Energy has secured $5mn to launch its first pilot projects for compact geothermal drilling, aiming to cut thermal energy production costs in buildings without relying on conventional oilfield rigs.
Electric Hydrogen announces the acquisition of Ambient Fuels and an alliance with Generate Capital to offer up to $400 mn in hydrogen project financing worldwide starting in 2026.

Baker Hughes joins CTR for a mega geothermal project in California

Baker Hughes joins the development of the second phase of the Hell’s Kitchen project in California, targeting 500 megawatts of geothermal energy to power energy-intensive data centres.
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US producer EQT has secured a twenty-year liquefied natural gas supply contract with Commonwealth LNG, tied to a Gulf Coast terminal under development.
Ineos Energy ends all projects in the UK, citing unstable taxation and soaring energy costs, and redirects its investments to the US, where the company has just allocated £3bn to new assets.

TotalEnergies confirms imminent investment decision for new LNG train in Texas

The Chief Executive Officer of TotalEnergies said that NextDecade would formalise on Tuesday a final investment decision for a new liquefaction unit under the Rio Grande LNG project in the United States.
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Texas-based start-up MCatalysis secures seed funding from HL Energy Ventures to exploit, under exclusive licence, a microwave catalysis technology developed at the University of Oxford.
Phillips 66 acquires Cenovus Energy’s remaining 50% in WRB Refining, strengthening its US market position with two major sites totalling 495,000 barrels per day.
Brent and WTI prices surged after the announcement of a trade deal between the United States and the United Kingdom, raising expectations of a rebound in global crude demand.
PureWave Hydrogen is accelerating exploration activities near the Sue Duroche 3 well, where HyTerra confirmed a 96.1% concentration of natural hydrogen, reinforcing the geological potential of the Nemaha Ridge area.

RWE completes 999 MW in energy projects across the US and expands presence

German group RWE has commissioned six new energy projects in the US, reaching a combined capacity of 999 MW across wind, solar and battery storage technologies.
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The U.S. Department of Energy will purchase three litres of helium-3 from Interlune by 2029, marking the first public contract involving a natural resource extracted from the lunar surface.
US commercial crude oil reserves dropped more than expected in early May, supported by increased refinery activity, according to the latest data from the Energy Information Administration.

Poland grants $320mn to Ascend Elements for battery materials plant

The Polish government is backing Ascend Elements with $320mn to build a lithium-ion battery materials plant, marking one of the country’s largest industrial subsidies.
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Oil prices are trending downward under the combined pressure of increased output from Opec+ members and the potential for a nuclear deal between Iran and the United States.
Pivot Energy has secured a $200mn tax credit purchase commitment to finance 40 community solar projects across eight U.S. states.

Veolia takes full control of WTS in a $1.75 billion deal

Veolia acquires full ownership of Water Technologies and Solutions by purchasing the 30% stake held by CDPQ, further consolidating its growth strategy focused on industrial water technologies.
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Legrand reaffirms its annual targets after strong first-quarter growth driven by the expansion of data centres and solid commercial performance in the United States.
Methane released by the oil, gas and coal sectors remained at near-record levels, according to the International Energy Agency, which flagged the scale of massive leaks detected.

Three companies unite virtual batteries to strengthen the Texas grid

Abundance Energy, sonnen and Energywell launch a residential virtual power plant project in Texas, combining home batteries and smart software to optimise electricity management.
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The Venezuelan government confirmed it will continue operating Chevron’s oil fields after the US-imposed withdrawal of the American company.
Danish wind turbine manufacturer Vestas posts an unexpected net profit despite tariff tensions and confirms its 2025 outlook.

Woodway Energy appoints Diaco Aviki as CEO to drive growth

Diaco Aviki succeeds Thomas King at the helm of Woodway Energy Infrastructure amid expansion of its natural gas infrastructure in Texas.
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Marathon Petroleum reported a net loss in Q1 2025 due to a major maintenance programme, while its midstream unit supported results with an 8% rise in adjusted EBITDA.
EDP Renewables North America strengthens its presence in the Central Valley with a new solar and storage project, bringing its California portfolio to over 1.1 GW.

KHNP’s nuclear contract in Czech Republic suspended after legal action by EDF

Czech justice has suspended the signing of a major contract between Prague and South Korea’s KHNP, following a complaint by French group EDF challenging the fairness of the Dukovany nuclear project tender.
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Software provider Twaice announces a set of improvements to help battery storage system operators improve financial performance and manage increasingly complex assets.
Russia positions itself as an active supporter of nuclear talks between Iran and the United States, advocating for a balanced legal framework in line with international law.