Recent developments
Refining and feedstocks
Refining projects: Petrobras chose Honeywell UOP’s Ethanol‑to‑Jet (ETJ) process at REPLAN, while Technip Energies’ SOGARA FEED adds a modular Hydrocracker Complex and SMR hydrogen. Honeywell connected services at the Dangote Petroleum Refinery target octane and reliability, and Long Son will convert the Long Son steam cracker from naphtha to ethane. Circular feedstocks grew as WPU (Vitol) planned a chemical recycling plant in Rotterdam supplying pyrolysis oil to naphtha hubs.
Gas and LNG
US LNG capacity is set to rise as Honeywell’s C3MR and CWHE were selected for Rio Grande LNG Trains 4 and 5, bringing the site to 30 MTPA.
Upstream signals
Petrobras began permanent reservoir monitoring in the Mero field and announced a pre‑salt Campos Basin well with hydrocarbons verified by logs and sampling. Discoveries included Chevron’s Bandit oil discovery in Green Canyon and QatarEnergy’s find at the Moho G structure offshore the Republic of Congo. bp will operate three offshore Namibian exploration blocks, while Petrobras regained 100% of Tartaruga Verde and Espadarte Module III.
Leadership changes
Governance: OMV proposed Emma Delaney as CEO from September 2026, pending Supervisory Board approval and with a three‑year mandate.