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Heat deliveries via networks reach 32.3 TWh in 2024, a record for the sector
With a 9.3% increase in one year, district heating networks cross a historic threshold, while cooling networks continue expanding in response to intensifying heatwaves.
TotalEnergies requests ten more years and $4.5 billion for its Mozambique project
TotalEnergies is asking Mozambique for a licence extension and financial compensation to restart its $20 billion gas project suspended since 2021 following an armed attack.

Italian court approves extradition of Ukrainian suspect in Nord Stream case

An Italian appeal court has approved the extradition to Germany of a former Ukrainian commander suspected of coordinating the 2022 sabotage of the Nord Stream gas pipeline, a decision now challenged in cassation.
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Sonatrach replaces its CEO as internal tensions mount
Algeria has removed Rachid Hachichi from the leadership of Sonatrach, two years after his appointment, replacing him with Noureddine Daoudi, former head of the National Agency for the Valorisation of Hydrocarbon Resources.
Galp Energia posts 53% quarterly profit surge driven by gas and refining
Portugal’s Galp Energia reported an adjusted net profit of €407 million in Q3, driven by higher refining margins and strong contribution from liquefied natural gas.

Why lithium-ion battery technology maintains such dominance

Despite the emergence of new storage technologies, lithium-ion batteries retain a dominant position thanks to industrial leadership, improved performance and a high geographic concentration of production capacity.
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QatarEnergy acquires 40% of North Rafah offshore block in Egypt alongside Eni
QatarEnergy has acquired a 40% stake in the North Rafah offshore exploration block, located off Egypt’s Mediterranean coast, strengthening its presence in the region in partnership with Italian group Eni.
Air Liquide acquires NovaAir to expand its industrial network in India
Air Liquide signs agreement to acquire NovaAir, strengthening its presence in India’s industrial gas market by expanding its national footprint.

Aliko Dangote aims to make his refinery the world’s largest within three years

Nigerian tycoon Aliko Dangote plans to expand his refinery’s capacity to 1.4 million barrels per day, reshaping regional energy dynamics through an unmatched private-sector project in Africa.
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COOEC wins $4bn QatarEnergy offshore field development contract
COOEC has signed a $4bn EPC contract with QatarEnergy to develop the offshore Bul Hanine oil field, marking the largest order ever secured by a Chinese company in the Gulf.
Clenergy restructures leadership to support global and Australian growth
Clenergy has appointed Haydn Fletcher and Samir Jacob to strategic positions to strengthen its operations in Australia and internationally, amid targeted commercial expansion.

Rio Tinto deploys electric trucks with swappable batteries in Mongolia

Rio Tinto commissions eight electric haul trucks with swappable batteries at the Oyu Tolgoi copper mine in partnership with Chinese company SPIC Qiyuan.
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Helical Fusion validates global HTS magnet test and launches demonstration device
Japanese company Helical Fusion has successfully tested a high-temperature superconducting magnet in conditions replicating a fusion reactor, initiating construction of its integrated demonstration device.
Envision Energy launches Gen 8 platform with modules up to 12 MWh
Envision Energy launches the Gen 8 platform, a modular storage range from 6 to 12 MWh, aiming to optimise energy density, logistical flexibility, and profitability for large-scale projects.

Nextracker Arabia to begin solar systems production in Saudi Arabia by 2026

Abunayyan Holding and US-based Nextracker launch an industrial joint venture in Riyadh to locally produce large-scale solar equipment for Saudi Arabia and the MENA region.
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Washington approves export of 112 mn m³/day of liquefied natural gas by CP2 LNG
The U.S. Department of Energy has given final approval to the CP2 LNG project, authorising liquefied natural gas exports to countries without free trade agreements.
ENGIE North America signs 600 MW solar deal with Meta in Texas
ENGIE North America has signed new power purchase agreements with Meta for a 600 MW solar project in Texas, bringing their renewable energy partnership in the US to over 1.3 GW.

Voltalia posts 31% growth driven by booming services segment

Voltalia's Q3 2025 revenue rises to €164.7mn, fuelled by a sharp increase in services activity, while energy sales decline due to currency effects and lower prices.
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Borr Drilling ends two contracts in Mexico due to sanctions
The group terminates commitments for the Odin and Hild rigs in Mexico, initially scheduled through November 2025 and March 2026, due to sanctions affecting an involved counterparty, while reaffirming compliance with applicable international frameworks.
LNG Energy Group settles $10.7mn debt and exits insolvency in Colombia
LNG Energy Group finalised a court-approved reorganisation agreement in Colombia and settled a major debt through asset transfer, while continuing its operational and financial recovery plan.
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Italian court approves extradition of Ukrainian suspect in Nord Stream case
Cypress Creek secures $190mn financing for hybrid solar project in Colorado
JERA Nex BP exits Beacon Wind project amid US market uncertainty
EDF appoints Intesa and Lazard to review future of Italian subsidiary Edison
VoltaGrid and Halliburton join forces to deliver distributed power to data centres
Julien Hueber appointed Chief Executive Officer of Nexans to succeed Christopher Guérin
The Nexans Board of Directors has officially appointed Julien Hueber as Chief Executive Officer, ending Christopher Guérin’s seven-year tenure at the helm of the industrial group.
JP Morgan Chase commits $1.5 trillion to critical minerals and industrial resilience
JP Morgan Chase has launched a $1.5 trillion, ten-year investment initiative targeting critical minerals, defence technologies and strategic supply chains across the United States.

African nations focus on local processing to boost critical minerals value

Amid rising global demand for low-carbon technologies, several African countries are launching a regional industrial strategy centred on domestic processing of critical minerals.
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Maersk and CATL enter global strategic partnership for energy logistics
Maersk and CATL have signed a strategic memorandum of understanding to strengthen global logistics cooperation and develop large-scale electrification solutions across the supply chain.
Bercy veto blocks ABB’s attempt to acquire Legrand
ABB made several attempts to acquire Legrand, but the French government opposed the deal, citing strategic concerns linked to data centres.

Aramco takes control of Petro Rabigh with $702 million acquisition

Aramco becomes Petro Rabigh's majority shareholder after purchasing a 22.5% stake from Sumitomo, consolidating its downstream strategy and supporting the industrial transformation of the Saudi petrochemical complex.
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Chevron opens new tech hub in Bengaluru to support global projects
Chevron India expands its capabilities with a 312,000 sq. ft. engineering centre in Bengaluru, designed to support its global operations through artificial intelligence and local technical expertise.
Ineos cuts 60 jobs in the UK and calls for antidumping duties
Amid rising energy costs and a surge in cheap imports, Ineos announces a 20% workforce reduction at its Hull acetyls site and urges urgent action against foreign competition.

Mining mergers in Africa: groups strengthen their position on critical metals

Driven by growing demand for strategic metals, mining mergers and acquisitions in Africa are accelerating, consolidating local players while exposing them to a more complex legal and regulatory environment.
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Ares Management acquires 49% stake in US energy portfolio from EDPR
Ares Management has acquired a 49% stake in ten energy assets held by EDP Renováveis in the United States, with an enterprise value estimated at $2.9bn.
Ameresco signs $197mn contract to modernise NRL’s energy infrastructure
Ameresco secured a $197mn contract with the U.S. Naval Research Laboratory to upgrade its energy systems across two strategic sites, with projected savings of $362mn over 21 years.

Enerflex to release Q3 results on November 6 before markets open

Enerflex Ltd. announced it will release its financial results for Q3 2025 before markets open on November 6, alongside a conference call for investors and analysts.
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Veolia and TotalEnergies sign agreement to optimise industrial resources
Veolia and TotalEnergies formalise a strategic partnership focused on water management, methane emission reduction and industrial waste recovery, without direct financial transaction.
North Atlantic takes key step toward acquiring Esso S.A.F.
North Atlantic and ExxonMobil have signed an agreement for the sale of ExxonMobil’s stake in Esso S.A.F., a transaction subject to regulatory approvals and financing agreements to be finalised by the end of 2025.

CPP Investments injects $1 billion into AlphaGen to support AI-driven energy growth

The Canadian pension fund takes a strategic minority stake in AlphaGen, a 11 GW U.S. power portfolio, to address rising electricity demand from data centres and artificial intelligence.
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BlackRock and Canada Pension Plan finalise $6.2bn Allete buyout with Minnesota approval
Minnesota’s public regulator has approved the $6.2bn acquisition of energy group Allete by BlackRock and the Canada Pension Plan, following adjustments aimed at addressing rate concerns.
Clariant targeted by BP and ExxonMobil in ethylene case
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.

Statkraft sells its district heating business for NOK3.6bn to Nordic consortium

Statkraft continues its strategic shift by selling its district heating unit to Patrizia SE and Nordic Infrastructure AG for NOK3.6bn ($331mn). The deal will free up capital for hydropower, wind, solar and battery investments.
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Petronas Gas separates regulated and non-regulated activities in major reorganisation
Petronas Gas restructures its operations by transferring regulated and non-regulated segments into separate subsidiaries, following government approval to improve transparency and optimise the group’s investment management.
Marubeni creates power trading joint venture with SmartestEnergy in Japan
Marubeni Corporation has formed a power trading unit in joint venture with UK-based SmartestEnergy, targeting expansion in Japan’s fast-changing deregulated market.