Recent developments
Capital and approvals
Regulatory approvals and investment plans reshaped corporate options. The strategic partnership between Covestro and XRG secured final approval alongside a EUR 1.17 bn capital increase. The European Commission approved joint ventures in energy and data sectors, covering CO2 transport and storage, Spanish data centers, and port electrification. Aramco announced $30bn in new US agreements spanning LNG, advanced materials, and procurement. In networks, Iberdrola will boost Basque Country investment by 50% in 2025–28 to integrate demand and accelerate digitalization.
AI and smart plants
Manufacturing digitalization advanced across assets. Sinopec projects chosen for National Intelligent Factory recognition highlight AI-enabled control in upstream, refining, and hydrogen. Catalyst and cracking reliability were targeted as CLARITY Prime digital services were expanded with SECCO’s ethylene unit. Siemens reinforced modeling with Setmetrics technology, while its survey found that AI drives the clean energy transition. Product analytics intensified via the Symvision AI platform. Sinopec’s new thermoplastic elastomer project in Shanghai embeds virtual factories and smart auxiliaries.
Digital logistics and utilities
Utilities and logistics adopted real-time orchestration. Veolia activated electricity flexibility at the Lapouyade Industrial Ecology Hub, linking waste-to-energy to France’s secondary reserve via Flexcity. In Australia, it secured AUD $700m in Australian water management contracts emphasizing efficiency and on-site renewables. In petrochemicals, Sinopec’s smart, green petrochemical logistics pilot was selected to cut costs and improve supply chain quality.
Data-led R&D and products
Digital tools expanded in agritech and discovery. BASF launched xarvio FIELD MANAGER for Grapes, integrating DSS models for plot-specific recommendations. FRONTEO and UBE partner for AI-driven drug discovery to streamline target identification and compound design. For emissions accounting, Symrise unveiled the Houston platform with CO2 AI. Battery R&D capacity grew as ASPİLSAN Enerji ranked 13th in Türkiye’s OSB R&D expenditures. In downstream products, Repsol unveiled a new lubricants brand tied to digitalization initiatives.
Energy systems and outlook
Heat and power digitalization scaled alongside new capacity. Sinopec’s geothermal heating expansion now serves 1.2 million homes with smart O&M platforms. Regional integration is reinforced as LOTTE Chemical completed its Indonesian petrochemical complex with AIM-based operations and high LPG flexibility. Strategy dialogues continued at the third Sinopec Industry High-quality Development Forum. In Europe’s subdued market, Ercros reported EUR 4M EBITDA and EUR 41M losses while advancing digitalization, decarbonization, and diversification plans.