Recent developments
Upstream supply moves
ORLEN started production at the Różańsko natural gas field, adding up to 130 mcm per year to domestic supply. In Norway, ORLEN acquired interests in the Albuskjell and Vest Ekofisk fields within the PPF development, targeting first gas in Q4 2028.
LNG projects update
US LNG advanced as Technip Energies secured equipment orders for Commonwealth LNG’s 9.5 Mtpa facility using modular trains. Equinor’s Snøhvit Future project shifted start to 2029 with higher costs while proceeding with Hammerfest LNG electrification.
Exploration results
INEOS reported the Nashville exploration well oil discovery, with potential tie-back to the Appomattox platform pending appraisal.
Low-carbon molecules
Power-to-ammonia progressed with the dynamic green ammonia plant in Denmark starting 5,000 t/y from wind and solar without hydrogen storage. On biofuels, Perpetual Next is expanding biomethanol production across Europe and the US, supported by early bond redemption ahead of planned 2026 institutional financing.
Process efficiency
Toray unveiled an immobilized-microorganism bioreactor technology claiming 80–90% energy-use reductions and >99.5% acrylonitrile conversion to organic acids, with adaptability across target chemicals.
Renewables and financing
Portfolio and capital moves included bp’s sale of a 65% stake in Castrol to Stonepeak, forming a JV and expected to raise about $6 billion, and Ørsted’s partial divestment of the Greater Changhua 2 Offshore Wind Farm in Taiwan with long-term O&M retained.