Faster electrification of the global economy could strengthen energy security, improve competitiveness and reduce emissions, with cost-effective technologies potentially bringing a proposed global target of 35 per cent electrification within reach by 2035, according to a new International Energy Agency (IEA) report.
Shell Offshore has completed the sale of its 50 per cent non-operated interest in the Na Kika platform and associated fields in the Gulf of America, along with its wholly owned Coulomb tieback.
TotalEnergies, operator with a 40 per cent stake, and Nigerian partner AMNI, which holds 60 per cent, have taken the Final Investment Decision (FID) for the development of the Ima gas field offshore Nigeria.
Superior Energy Services has entered into a definitive agreement to acquire Welltec International, a Denmark-based provider of robotic, wireline-conveyed well intervention solutions and metal expandable packer technologies.
Unique Group, a global provider of subsea technologies and engineering, has entered a strategic partnership with The USV Group to support wider adoption of uncrewed surface vessels (USVs) across commercial survey and marine applications.
Prices for fuels and lubricants for personal transport in the European Union (EU) rose 23.8 per cent year-on-year in August 2026, accelerating from increases of 13.7 per cent in June and 16.9 per cent in July, according to Eurostat.
The value of the European Union’s petroleum oil imports surged 55.8 per cent in the second quarter of 2026, while volumes remained broadly stable, rising 1.2 per cent to a monthly average of 36.7 million tonnes, according to Eurostat.
US President Donald Trump has proposed a $10 billion fund to rebuild war-damaged energy infrastructure and develop oil and gas export routes that bypass the Strait of Hormuz, with $5 billion in US funding and a matching $5 billion contribution from Gulf and other regional partners.
Surging electricity demand from AI, data centres, and industrial electrification is colliding with geopolitical instability, infrastructure constraints, and persistent energy gaps, according to the World Energy Council’s 2026 World Energy Trilemma report.
MOL has finished rebuilding the AV3 crude oil distillation unit at its Danube Refinery in Százhalombatta, following a fire last autumn. Completed on schedule with an 18-billion-forint ($57 million) budget, the project enables the refinery to resume full capacity, boosting regional fuel security.
