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Financial Performance and Strategy news
8 July 2026
Dangote Settles on Lamu, Kenya for Proposed 700,000 bpd East African Mega-Refinery
USD 17–20bn single‑train coastal refinery tied to the 800 km Lokichar–Lamu pipeline; FEED not yet awarded; Kenya allocated KES 21.5bn in seed capital.
6 July 2026
TaiSan raises £4.65m to commercialise sodium‑ion batteries
Seed funding to advance compact sodium‑ion cells for e‑bikes, light EVs and power tools; pilot tests, pack demos and scaled precursor manufacturing planned.
6 July 2026
Essar Energy Transition renews US$300m crude facility with Petraco
Three-year facility refreshes crude sourcing and product marketing, strengthens feedstock security and capital structure while backing higher domestic output and low‑carbon investments.
6 July 2026
bp exits Bay du Nord interest, sells stake to Equinor
Non-operated stake in offshore Newfoundland project sold as part of portfolio simplification; transaction subject to approvals and accounting impacts to appear in Q2 results.
3 July 2026
EnviTec Biogas AG: Dividend suspended as company pivots to biomethane
AGM approves dividend suspension to preserve cash; company won EEG subsidies for ~16 MW, plans ~€100m investment to convert plants toward biomethane by 2031.
2 July 2026
Yara acquires Gulf Coast Ammonia Texas City plant for USD 1.3bn
Texas City ammonia plant (1.3 mtpa) bought for USD 1.3bn; commissioning underway and ramp to full, stable output targeted by end‑2026; Air Products to supply H2/N2 under long‑term contract.
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2 July 2026
Rompetrol Rafinare: APC digital control boosts Petromidia production and cuts costs
Automated process control increased high‑value product yields, lifted utilization to 98.1% and delivered estimated savings of over USD 2.5M in 2025.
1 July 2026
Tessenderlo Group agrees $400M minority equity investment in FMC Corporation
Agreement announced; full details available in linked English and Dutch press releases.
1 July 2026
BASF and Carlyle complete coatings transaction; BASF retains 40% of Surventis
€7.7bn enterprise-value deal delivered ~€5.8bn pre-tax cash to the seller; coatings businesses reorganised as Surventis covering automotive OEM, refinish and surface treatment.
1 July 2026
EIB lends €125m to Orano to build Orano Med’s ATEF for thorium‑228 production
Funds will build the Advanced Thorium Extraction Facility to scale thorium‑228 supply for lead‑212 targeted alpha therapies and feed ATLabs.
30 June 2026
Ecovyst completes acquisition of Calabrian SO2 and derivatives business
Adds sulfur dioxide and related derivatives capabilities; broadens end-use exposure into mining, water treatment, food processing and pharmaceuticals; company cites expected margins and synergies.
30 June 2026
Shell to sell Na Kika 50% stake and Coulomb tieback to Talos and Ridgewood for $1.7bn
50% non-operated Na Kika interest and 100% Coulomb tieback sold for $1.7bn; effective 1 July 2025 and expected to close by end‑2026; buyers assume decommissioning obligations.
30 June 2026
INEOS Enterprises sells INEOS Calabrian to Ecovyst for $190 million
Ultra‑pure sulphur dioxide and derivatives unit with plants in Texas and Ontario sold for $190 million; transaction was first announced in May 2026.
30 June 2026
Yara drops LCEC ammonia acquisition and reallocates capital
Cancels planned LCEC ammonia asset purchase; shifts capital to alternative U.S. ammonia projects and finalizes NEOM renewable ammonia distribution deal with Air Products.
26 June 2026
Evonik raises 2026 outlook after Q2 ahead of plan
Q2 adjusted EBITDA now seen at €600–650m; 2026 outlook raised to €2.0–2.2bn. Cash conversion target ~40% and expanded restructuring with job cuts through 2029.
25 June 2026
Nextchem (MAIRE) completes acquisition of Ballestra Group including Mazzoni and BUSS ChemTech
Adds full NPK fertilizer technologies, fluorine and oleochemistry capabilities; integrates ~460 staff, pilot plants and a €270m backlog; transaction paid at €148.2m.
24 June 2026
Saipem sells Saudi shallow-water drilling unit to ADES for $285m
Deal covers five jack-up rigs; SAS posted 2025 revenues of SAR 636m (USD 170m). Buyer will bareboat-charter one rig back; closing targeted by Q3 2026 subject to approvals.
19 June 2026
Holcim acquires Xella
Adds European walling brands (Ytong, Hebel, Silka, Multipor); projected 2026 sales €1bn; €60m run-rate EBITDA synergies by year three; EPS accretive in year one.
18 June 2026
Evonik expands Tailor Made efficiency program; 3,200 jobs to go
Companywide restructuring through 2029 including 3,200 job cuts and discontinuation of the polyester business in 2027.
16 June 2026
Equinor Capital Markets Day 2026 — plan to grow energy, cash flow and returns
Doubles 2026 buy-back to USD 3bn and sets USD 2–4bn annual buy-back guidance from 2027; growth targets across production, power and trading with strong cash-flow guidance.
16 June 2026
thyssenkrupp AG approves spin-off of tk accelis
Shareholders to receive a 49% stake proportionally; EGM set for Aug 7, 2026; Frankfurt listing targeted before year-end; parent to retain majority.
16 June 2026
MAIRE/NEXTCHEM buys 70% of ETEK (owner of SISEMTEK) to add metals recovery capabilities
Majority buy adds pyrometallurgical, hydrometallurgical and electrowinning tech to recover precious and critical metals from e‑waste, batteries, PV panels and mining tailings.
16 June 2026
Olin and Huntsman to merge as OlinHuntsman
All-stock merger creates an integrated North American chemicals platform with vertical chlorine/caustic integration, ~$12.5B pro forma revenue and $400M+ identified synergies.
15 June 2026
Symrise renews and ups €750m revolving credit facility
Refinanced existing RCF and increased volume to €750m with five-year term, two one-year extension options and a €250m accordion; terms aided by investment-grade ratings.
15 June 2026
Mitsui Chemicals — Developing Dental Materials M&A as a Third Growth Pillar
Acquire Ultradent to build a US dental materials platform, lift L&HC to ¥86bn by FY30 (ROS 17%), and capture whitening growth amid broader specialty-chemicals repositioning.
11 June 2026
Repsol and Masdar partner on €849m, 705 MW Spanish renewables portfolio
Masdar to buy 49.99% stake in a €849m portfolio with 705 MW operational capacity and >565 MW hybridization pipeline; deal expected to close late 2026 pending approvals.
10 June 2026
Kemira lowers 2026 operative EBITDA outlook after Iran war-driven cost rises
Raw material and logistics cost rises from the prolonged Iran war hit Q2 results, reducing 2026 operative EBITDA guidance to EUR 400–500m despite price increases.
10 June 2026
Evonik launches Innovation Factory to accelerate market-ready innovations
New unit targets faster, market-driven development and resilience; aims up to €300m contribution by 2032 and shifts researchers into business lines.
9 June 2026
bp simplifies to two business segments and appoints segment chiefs
From 1 July 2026 the group will operate two segments: Upstream and Downstream. Gordon Birrell EVP Upstream; Richard Harding interim EVP Downstream; renewables move to Technology.
9 June 2026
GSK to acquire Nuvalent for $10.6 billion
Includes two late-stage ROS1 and ALK NSCLC inhibitors under FDA review for 2026 decisions, plus a HER2 candidate; expected to be accretive to profit from 2027 and funded by debt and cash.
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