MOL Group has inaugurated a 37.4 MWp solar park and an associated battery energy storage system at its Algyő site in Hungary, strengthening the company’s renewable energy portfolio, energy independence and electricity supply flexibility. The storage system has 20 MW of nominal power and 40 MWh of capacity.
VIDA bioenergy, a Netherlands-based renewable energy company, has selected Blackline Safety to improve worker safety and detect potential hazards at its bioenergy plant in Wormslade, UK.
US forces had supported the safe transit of more than one billion barrels of crude oil through the Strait of Hormuz over the past two months, said its top official, adding that they had facilitated the transit of more than 2,000 commercial vessels through the Strait with “co-ordinated protection”.
Austria’s inflation rate rose by 0.4 percentage points to 3.2 per cent in August, with higher fuel and heating oil prices driving the increase, Statistics Austria said.
South Korea’s Finance Minister Koo Yun-cheol pledged diplomatic efforts and diversified import sources to address energy price volatility amid geopolitical uncertainties in the Middle East.
Renewable energy sources accounted for 54.1 per cent of electricity generated in the European Union (EU) in the second quarter of 2026, slightly down from 54.3 per cent in the same period of 2025, according to Eurostat.
TotalEnergies has partnered with BlackRock’s Global Infrastructure Partners on African oil and gas infrastructure assets, receiving a $1.8 billion capital contribution in exchange for throughput-based tariff payments over up to 15 years.
Beam Global, a leading provider of innovative and sustainable infrastructure solutions for energy storage and security as well as smart city infrastructure, said it has signed an agreement with Masdar City Free Zone to explore opportunities to incorporate its smart-energy and clean-mobility technologies into the Masdar City ecosystem.
Hyundai Engineering Company has announced that its consortium has completed the work on the first phase of Jafurah Gas Processing Facilities Project in Saudi Arabia for global oil giant Aramco. The project, which began in November 2021, was executed over a 45-month period.
Oil prices fell about 1% on Friday, extending losses for a third consecutive session, even as Saudi Arabia and Yemen's Iran-backed Houthis exchanged fresh strikes and a tanker was hit in the Strait of Hormuz, with markets focusing instead on efforts to restore Saudi oil flows and alternative routes for Gulf exports.
