Chemistry

Facing a structural electricity surplus, the government commits to releasing a new Multiannual Energy Programme by Christmas, as aligning supply, demand and investments becomes a key industrial and budgetary issue.
A coalition of eight EU countries plans a series of public auctions to secure e-SAF production, responding to a lack of final investment decisions despite over 40 projects identified.

United Kingdom: Second CO₂ storage licensing wave redefines North Sea through 2050

The United Kingdom opens 14 new offshore geological storage zones, creating an industrial decarbonisation corridor and securing long-term capacity for domestic and European heavy industry.
en_114099991238540-2
Driven by off-grid industrial heat demand and decarbonisation mandates, the global small modular reactor market is set to grow 24% annually through 2030, with installed capacity expected to triple within five years.
US LNG exports are increasingly bypassing the Panama Canal in favour of Europe, seen as a more attractive market than Asia in terms of pricing, liquidity and logistical reliability.

Fusion energy industry urges Washington to invest over $1bn annually

US fusion energy leaders have called on the federal government to redirect public funding towards their projects, arguing that large-scale investment is needed to stay competitive with China.
en_114099991233540-2
Bitzero Holdings launches a new 70 MW expansion phase in Namsskogan, Norway, targeting a total capacity of 110 MW and an upgrade of its high-performance computing capabilities.
US investment bank Xtellus Partners has submitted a plan to the US Treasury to recover frozen Lukoil holdings for investors by selling the Russian company’s international assets.

Cybele Energy invests $17mn to explore offshore oil block in Guyana

Ghanaian company Cybele Energy has signed a $17mn exploration deal in Guyana’s shallow offshore waters, targeting a block estimated to contain 400 million barrels and located outside disputed territorial zones.
en_114099991236540-2
BHP sells a minority stake in its Western Australia Iron Ore power network to Global Infrastructure Partners for $2 billion, retaining strategic control while securing long-term funding for its mining expansion.
Indian Oil Corporation has issued a tender for a spot LNG cargo to be delivered in January 2026 to Dahej, as Asian demand weakens and Western restrictions on Russian gas intensify.

Oil stabilises below $63 as markets watch Ukraine talks

Oil prices moved little after a drop linked to the restart of a major Iraqi oilfield, while investors remained focused on Ukraine peace negotiations and an upcoming monetary policy decision in the United States.
en_114099991228540-2
McDermott has secured a major engineering, procurement, construction, installation and commissioning contract for a strategic subsea gas development offshore Brunei, strengthening its presence in the Asia-Pacific region.
The Tilley Solar project, led by Indigenous and private partners, has reached full commissioning, adding 23.6 MW to Alberta's power grid and marking an economic milestone for Alexander First Nation.

Remixpoint launches seven battery storage projects with Nippon Chikudenchi in Japan

Remixpoint and Nippon Chikudenchi have formalised a partnership to develop seven 2MW/8MWh BESS facilities by October 2026 through a newly established joint venture.
en_114099991244540
UK-based Ray Systems has selected Beam Global to supply tailored battery systems for its new autonomous underwater drones, aiming to extend mission duration without compromising stealth or manoeuvrability.
Sungrow has started construction on a 200 MW/400 MWh battery storage system for ENGIE, aimed at strengthening grid stability in a state heavily reliant on renewable energy.

Fluor and JGC deliver second LNG Canada unit in Kitimat

The partnership between Fluor and JGC has handed over LNG Canada's second liquefaction unit, completing the first phase of the major gas project on Canada’s west coast.
en_114099991234540
Northern Oil and Gas and Infinity Natural Resources invest $1.2bn to acquire Utica gas and infrastructure assets in Ohio, strengthening NOG’s gas profile through vertical integration and high growth potential.
Waaree Solar Americas will supply next-generation bifacial modules to Sabancı Renewables for two utility-scale solar plants in Texas, strengthening its presence in the North American market.
The Adura joint venture merges Shell and Equinor’s UK offshore assets, becoming the leading independent oil and gas producer in the mature North Sea basin.
A new $100mn fund has been launched to support Nigerian oil and gas service companies, as part of a national target to reach 70% local content by 2027.

Sanctions against Rosneft and Lukoil redirect oil flows toward Asia

Western measures targeting Rosneft and Lukoil deeply reorganise oil trade, triggering a discreet yet massive shift of Russian export routes to Asia without causing global supply disruption.
en_114033331229540
The Nigerian Upstream Petroleum Regulatory Commission opens bidding for 50 exploration blocks across strategic zones to revitalise upstream investment.
La Nigerian Upstream Petroleum Regulatory Commission ouvre la compétition pour 50 blocs d’exploration, répartis sur plusieurs zones stratégiques, afin de relancer les investissements dans l’amont pétrolier.

Serbia forced to shut down its only refinery after US sanctions

Serbia's only refinery, operated by NIS, has suspended production due to a shortage of crude oil, a direct consequence of US sanctions imposed on its majority Russian shareholder.
en_114022221231540
Crude prices increased, driven by rising tensions between the United States and Venezuela and drone attacks targeting Russian oil infrastructure in the Black Sea.
Amid persistent financial losses, Tullow Oil restructures its governance and accelerates efforts to reduce over $1.8 billion in debt while refocusing operations on Ghana.

Baghdad invites US companies to replace Lukoil on West Qurna 2

The Iraqi government is inviting US oil companies to bid for control of the giant West Qurna 2 field, previously operated by Russian group Lukoil, now under US sanctions.
en_114017171140540-1
Two tankers under the Gambian flag were attacked in the Black Sea near Turkish shores, prompting a firm response from President Recep Tayyip Erdogan on growing risks to regional energy transport.
The British producer continues to downsize its North Sea operations, citing an uncompetitive tax regime and a strategic shift towards jurisdictions offering greater regulatory stability.

Dangote claims 100% of Nigerian petrol supply and demands priority access to crude

Dangote Refinery says it can fully meet Nigeria’s petrol demand from December, while requesting regulatory, fiscal and logistical support to ensure delivery.
en_11401111111240540
BP reactivated the Olympic pipeline, critical to fuel supply in the U.S. Northwest, after a leak that led to a complete shutdown and emergency declarations in Oregon and Washington state.
President Donald Trump confirmed direct contact with Nicolas Maduro as tensions escalate, with Caracas denouncing a planned US operation targeting its oil resources.

Zenith Energy accuses Tunisia of unauthorised sale of 3,987 barrels of oil

Zenith Energy claims Tunisian authorities carried out the unauthorised sale of stored crude oil, escalating a longstanding commercial dispute over its Robbana and El Bibane concessions.
en_114030011135540
TotalEnergies restructures its stake in offshore licences PPL 2000 and PPL 2001 by bringing in Chevron at 40%, while retaining operatorship, as part of a broader refocus of its deepwater portfolio in Nigeria.
Aker Solutions has signed a six-year frame agreement with ConocoPhillips for maintenance and modification services on the Eldfisk and Ekofisk offshore fields, with an option to extend for another six years.

Iran seizes Eswatini-flagged vessel for fuel smuggling

Iranian authorities intercepted a vessel carrying 350,000 litres of fuel in the Persian Gulf, tightening control over strategic maritime routes in the Strait of Hormuz.
en_1140290946540
North Atlantic France finalizes the acquisition of Esso S.A.F. at the agreed per-share price and formalizes the new name, North Atlantic Energies, marking a key step in the reorganization of its operations in France.
Greek shipowner Imperial Petroleum has secured $60mn via a private placement with institutional investors to strengthen liquidity for general corporate purposes.