News / Worldwide

AVEVA Records 93% Emissions Cut in 2024

AVEVA, a global leader in industrial software, released its 2024 Sustainability Report at London Climate Action Week during which it revealed progress across all three pillars of the company’s sustainability framework: technology handprint, operational footprint and inclusive culture. The company reported 93% reduction in scope 1 and 2 emissions against its baseline year driven by utilizing renewable energy, careful management of office space and fleet optimization. Since 2022, the company reduced its fleet size by 58.6%, from 186 vehicles to 77 at the start of 2025. Of the remaining vehicles, 35 are hybrid and six are electric.

ExxonMobil Makes New Gas Discovery in Cyprus

ExxonMobil discovered a reservoir of natural gas at a prospect off the island’s coast, Reuters reported, citing Konstantinos Letymbiotis, the spokesperson of the Cypriot government. Drilling operations revealed a 350-meter reservoir of natural gas at a depth of 1.9 kilometers in the Pegasus-1 well.

Petrofac Consortium Wins EPC2 Contract with Sonatrach

The Tinrhert EPC2 Development Project in Algeria has been awarded to Petrofac's consortium with Genie Civil et Batiment (GCB). Petrofac's share of the contract is approximately US$200 million, valued at approximately $300 million.

Aramco, Sinopec Ink Cooperation MoU

Aramco and Sinopec signed a Memorandum of Understanding (MoU) to discuss a variety of potential collaborative endeavors between the two companies.

OPEC+ Approves Modest Rise in Oil Output

At a time when high oil prices and unstable energy supplies have been exacerbated by Russia's war on Ukraine, OPEC and its allies decided to slow production growth in September.

Iberdrola Collaborates with bp to Help Accelerate Energy Transition

A strategic partnership between Iberdrola and bp was announced today to accelerate the energy transition. As part of their collaboration, the companies plan to significantly expand fast EV public charging infrastructure and develop large scale green hydrogen production hubs in Spain, Portugal, and the UK.

Gazprom to Deliver Increased Gas Supplies to Eni

Gas volumes received by Eni from Gazprom will increase from the daily averages of the past 10 days to 36 million cubic meters, Reuters reported.

TotalEnergies Launches New Ethane Cracker in Port Arthur

 A 50/50 joint venture (JV) between TotalEnergies and Borealis, Bayport Polymers LLC ("Baystar"), today announced the commercial operation of a new ethane cracker with an annual production capacity of one million tons of ethylene.

Russia Resumes Nord Stream 1 Gas Pipeline Flows to Europe

After a 10-day outage, Russia resumed pumping gas through its biggest pipeline to Germany on Thursday, easing Europe's supply concerns amid an economic dispute with the Kremlin over its invasion of Ukraine.

Saudi FM: OPEC+ Will Do What is Necessary After Assessing Market Conditions

OPEC+ will continue to assess market conditions and do what is necessary as a result of a US-Arab summit on Saturday, according to Saudi Arabia's foreign minister, Reuters reported.

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