Recent developments
Upstream gas shifts
On the Norwegian Continental Shelf, ORLEN Upstream Norway secured stakes in six licenses, including the Victoria tight‑gas discovery (up to 140 bcm) to be appraised with Aker BP, Equinor, and Harbour Energy. In Nigeria, TotalEnergies signed a Sale and Purchase Agreement with Vaaris to divest its 10% non‑operated interest while retaining full economic interest in gas supplying Nigeria LNG.
Trading capabilities expand
TotalEnergies and Bapco Energies launched BxT Trading to market Middle East petroleum products using Bapco refinery flows and advanced risk tools. The platform complements hubs in Houston, Geneva, and Singapore, improving responsiveness.
UK refining performance
Essar Energy Transition achieved record 2025 sales at Stanlow as throughput rose ~8% versus 2024. A $100 million turnaround within a $350 million program increased capacity and installed the UK’s first hydrogen‑ready furnace; expanded supply points and CBAM advocacy addressed fuel security after two refinery closures.
EU resilience measures
The European Commission’s EU Critical Chemicals Alliance held its first assembly to address plant closures, unfair trade practices, and investment gaps. Priorities include defining essential sites and molecules, mapping critical molecules for customs surveillance, diversifying supply, and stimulating demand for European‑made products.
Pipeline engineering consolidation
China’s Nanjing Engineering Company acquired the East China Pipeline Design Institute, adding long‑distance pipeline and storage qualifications. The move strengthens integration across oil, gas, and chemical logistics and positions the firm for hydrogen and aviation‑fuel pipeline work.
Industrial decarbonization signals
Industrial decarbonization remained in focus, with 2026 Global Cleantech 100 recognition for Coolbrook reflecting attention to transforming industrial processes, securing critical minerals, and grid modernization amid intensified competition and emphasis on economic durability.