Recent developments
Upstream and trading
On the Norwegian Continental Shelf, the Sissel discovery adds ~1 bcm of gas routed via Baltic Pipe. Portfolio adjustments continued as TotalEnergies agreed to divest its 10% non-operated interest in the Renaissance JV licenses in Nigeria while retaining economic interest in key gas licenses supplying Nigeria LNG. Regional market access expanded with BxT Trading, a JV with Bapco Energies to trade petroleum products from Bahrain.
Refining and utilities
MOL Group moved to acquire 56.15% of Naftna Industrija Srbije (NIS), gaining control rights in Serbia’s 4.8 mtpa Pancevo refinery, pending Serbian and OFAC approvals. The Petromidia cogeneration plant is now operational, supplying 60–70 MWh and up to 180 t/h of steam to the refinery and grid. Essar Energy Transition reported record Stanlow sales and installed a hydrogen‑ready furnace following a $100m turnaround.
Corporate and policy
Shell will integrate technical divisions into business lines; Robin Mooldijk will depart, reducing the Executive Committee to eight, with reporting segments unchanged. EU Critical Chemicals Alliance stakeholders outlined measures to prioritize essential molecules, investment, and monitoring amid closures and trade concerns. China’s East China Pipeline Design Institute was acquired by Nanjing Engineering, extending capabilities in long‑distance pipelines, storage, and potential hydrogen and aviation fuel networks.
Industrial technology deployment
Robin von Plettenberg joined Coolbrook’s board to support financing, governance, and scaling of turbomachinery-based industrial technologies; the company was also named to the 2026 Global Cleantech 100. Utilities upgrades included SGT‑750 turbine cogeneration at Petromidia and furnace modernization at Stanlow, reflecting upgrades in process energy systems.