Mercantile & Maritime

Buffalo Biodiesel secures $300mn from Verite Capital to expand its used grease collection and processing operations to 25 US states and build two renewable gas plants.
Santee Cooper has selected Brookfield Asset Management to lead a feasibility study aimed at completing two unfinished AP1000 reactors, without relying on public funds or raising consumer rates.

Gabon invests FCFA560bn to regulate its gradual exit from oil

As oil production declines, Gabon is relying on regulatory reforms and large-scale investments to build a new growth framework focused on local transformation and industrialisation.
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HTEC has inaugurated a clean hydrogen production facility in Burnaby, British Columbia, marking the launch of the province’s first commercial-scale electrolyzer, with a combined production capacity of 1.8 tonnes of clean hydrogen per day.
Cameroon will adopt a customs exemption on industrial equipment related to biofuels starting in 2026, as part of its new energy strategy aimed at regulating a still underdeveloped sector.

Shell pursues ambitions in the Orange Basin despite court ruling

Shell has filed an appeal against the cancellation of its environmental authorisation for Block 5/6/7 off the South African coast, aiming to continue exploration in a geologically strategic offshore zone.
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The Greek government has selected a consortium led by Chevron to explore hydrocarbons in four maritime zones in the Ionian Sea and south of Crete, with geophysical surveys scheduled to begin in 2026.
Endesa, Iberdrola and Naturgy have officially requested the Spanish government to delay the closure of the Almaraz nuclear power plant, originally scheduled for 2028, reigniting the debate on nuclear power's role in the national energy mix.

Bolivia allows private fuel imports to address supply crisis

Facing a persistent fuel shortage and depleted foreign reserves, the Bolivian parliament has passed an exceptional law allowing private actors to import gasoline, diesel and LPG tax-free for three months.
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Daniel Chapo is visiting the United States to encourage ExxonMobil to commit to a major investment in Rovuma LNG, a strategic gas project for Mozambique as TotalEnergies resumes its suspended operations.
Altano Energy secured €81mn ($85.7mn) to construct two onshore wind farms and three photovoltaic plants in southern Spain, reinforcing its multi-technology generation strategy.

Baker Hughes reports $8.2bn in orders in Q3 despite net income decline

Baker Hughes recorded a 23% increase in orders in Q3 2025, driven by its gas segment, while net income fell 20% year-on-year to $609mn.
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Baker Hughes will expand its coiled tubing drilling fleet from four to ten units in Saudi Arabia’s gas fields under a multi-year agreement with Aramco, including operational management and underbalanced drilling services.
OPES Solar Mobility launches Europe's first factory for flexible vehicle solar panels in Zwenkau, targeting truck, bus and utility vehicle markets across several continents.

First El Dabaa nuclear reactor receives 330-tonne pressure vessel

The reactor vessel for Unit 1 at Egypt’s El Dabaa nuclear plant has been delivered following a 20-day maritime transport from Saint Petersburg, marking a critical milestone in the country’s energy project.
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Abu Dhabi has begun construction on the world’s first gigascale solar and battery storage project, capable of delivering 1GW of baseload renewable power, with operations expected by 2027.
Shanghai Electric has signed phase II of the Parau photovoltaic project with Econergy, expanding its Romanian solar portfolio to 550 MW.

Kenya Airways deploys a 50% SAF flight to secure a regional hub

The carrier uses mass balance and Book & Claim allocation to test demand, structure certified revenues, and prepare domestic capacity targeted for 2026 amid already intensifying regional competition.
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Ghana aims to secure $16 billion in oil revenues over ten years, but the continued drop in production raises doubts about the sector’s long-term stability.
Algerian company Sonatrach has resumed exploration activities in Libya's Ghadames Basin, halted since 2014, as part of a strategic revival of the country's oil sector.
Sudan seeks partnership with Belarus to rehabilitate its energy grid amid prolonged humanitarian, economic and logistical crisis.
The Malaysian group launched three tenders to sell up to five liquefied natural gas cargoes in November and December, sourced from its Bintulu and PFLNG Dua facilities.

South Africa lifts shale gas moratorium to revive its energy sector

The South African government ends a thirteen-year freeze on shale gas, paving the way for renewed exploration in the Karoo Basin amid a national energy crisis.
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Platts' physical pricing platform records its second-highest LNG trading volume, with nearly 1.5 million tonnes exchanged despite regional demand slowdown.
Former German Chancellor Gerhard Schröder supported the Nord Stream 2 pipeline before an inquiry, dismissing criticism over his role and Russian funding linked to the project.

United Kingdom: gas volatility demands greater supply flexibility

Daily winter demand spikes are pushing Britain’s gas system to rely more on liquefied natural gas and fast-cycle storage, as domestic production and Norwegian imports reach seasonal plateaus with no room for short-term increases.
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Rising terminal capacity and sustained global demand, notably from China and Europe, are driving U.S. ethane exports despite new regulatory uncertainties.
The United States has called on Japan to stop importing Russian gas, amid rising tensions over conflicting economic interests between allies in response to the indirect financing of the war in Ukraine.

Santos cuts 2025 production forecast again due to technical issue

Australian group Santos lowers its annual production forecast after an unplanned shutdown at the Barossa project and delayed recovery in the Cooper Basin.
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VoltaGrid partners with Oracle to deploy modular gas-powered infrastructure designed to stabilise energy use in artificial intelligence data centres while creating hundreds of jobs in Texas.
GTT, Bloom Energy and Ponant Explorations Group launch a joint project to integrate LNG-powered fuel cells and a CO₂ capture system on a cruise ship scheduled for 2030.

Storengy puts 100 TWh of gas storage capacity on the market through 2030

Storengy has launched its 2025/2026 campaign to sell gas storage capacity over four years, targeting the commercialisation of nearly 100 TWh by 2030, with over 27 TWh available starting in 2026-27.
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The US government has withdrawn its proposal to suspend liquefied natural gas export licences for failure to comply with maritime requirements, while maintaining a phased implementation schedule.
Soaring electricity demand in Batam, driven by new data centres, leads INNIO and MPower Daya Energia to secure 80 MW and launch a five-year maintenance programme.

Tamboran completes drilling of three wells ahead of 2026 production tests

Tamboran has completed a three-well drilling campaign in the Beetaloo Sub-basin, with 12,000 metres of horizontal sections prepared for stimulation and maintenance ahead of the commercial phase.
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Valeura Energy partners with Transatlantic Petroleum to restart gas exploration in the Thrace basin, with testing and drilling planned this quarter in deep formations.
Calpine Corporation has finalised a public funding agreement to accelerate the construction of a peaking power plant in Freestone County, strengthening Texas’s grid response capacity during peak demand periods.

Naftogaz proposes integrating its gas storage into EU strategic reserve plan

Naftogaz urges the European Union to use Ukraine’s gas storage capacity as part of a strategic reserve system, while calling for the end of storage filling obligations after 2027.
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Spanish gas infrastructure operator Enagás is in advanced talks to acquire the 32% stake held by Singapore’s sovereign wealth fund GIC in Terega, valued at around €600mn ($633mn), according to sources familiar with the matter.
BP has awarded Valaris a $140mn drilling contract for a Mediterranean offshore campaign aimed at reinforcing Egypt’s declining gas output since 2021.