Recent developments
Feedstock supply shifts
Following halted Druzhba deliveries, MOL initiated seaborne supply via Omišalj. The company requested release of strategic reserves in Hungary to maintain refinery runs. To bolster gas feedstock, ORLEN acquired 25% of the Afrodite HPHT license for appraisal and a potential tie-back to Kvitebjørn.
Upstream expansions
Upstream access expanded as Eni confirmed the Algaita-01 oil discovery in Angola’s Block 15/06 near existing FPSOs. Libya acreage progressed with an offshore License O1 awarded to an Eni–QatarEnergy consortium, supplemented by QatarEnergy’s first Libya entry, and MOL joining Repsol and TPAO on deepwater block O7. Tengizchevroil increased crude output to 39 Mt in 2025 after Third-Generation Plant start-up.
Refining and decarbonization
OMV Petrom completed a €20 million waste-water gas capture and treatment upgrade at the Petrobrazi refinery, and is developing a €750 million sustainable fuels unit with green hydrogen. Industrial suppliers continued restructuring as thyssenkrupp reported lower sales but higher EBIT while advancing green hydrogen and CO2 capture capabilities.
Circular and trade moves
Plans advanced for a 200 kt/y circular MTO plant in Rotterdam via a co-siting agreement with Chane, converting green methanol to biobased ethylene and propylene by 2030. Sinopec’s phenol made its international market debut, supported by coordinated sampling, logistics, and shipping execution.
European competitiveness
Industry stakeholders flagged deteriorating conditions. The Port of Antwerp-Bruges backed the Antwerp Call to Alden Biesen for competitive energy, carbon-leakage safeguards, and faster permitting. INEOS warned Europe’s chemical industry is at risk, citing closures, capacity loss, and higher carbon intensity abroad, and proposed expedited trade defense, temporary carbon tax suspension, and energy price relief.