TotalEnergies will appeal a decision by the French Competition Authority that imposes a fine on the company for alleged anti-competitive practices in the supply of petroleum products in Corsica. The Authority's ruling follows a four-year investigation. However, TotalEnergies maintains that the decision is not supported by evidence of any negative competitive impact on the island.
US oil giant Chevron is reviewing potential opportunities to acquire international assets owned by sanctioned Russian producer Lukoil, five sources told Reuters on November 17. This move follows a US Treasury waiver issued last week that allows potential buyers to engage with Lukoil regarding its overseas holdings.
Oil producers in Iraq’s Kurdistan region have successfully loaded the first export cargo from Turkey’s Ceyhan terminal, marking a critical step in the resumption of regional crude exports. Gulf Keystone Petroleum announced that it expects to receive payment for its portion of the cargo within 30 days. The company is already planning a second lifting toward the end of November.
TotalEnergies has signed an agreement with Czech energy group Energetický a průmyslový holding (EPH) to acquire a 50% stake in its flexible power generation platform, as reported in TotalEnergies' press release. The partnership, valued at €10.6 billion, will create a joint venture (JV) to expand flexible power assets, including natural gas-fired plants, biomass facilities, and battery storage across Western Europe.
The European Commission (EU) has granted conditional approval for Abu Dhabi National Oil Company (ADNOC)’s landmark €14.7 billion acquisition of German plastics and chemicals manufacturer Covestro, Reuters reported.
The Commission announced the decision on November 14, requiring ADNOC to adhere to several commitments to address competition concerns.
The US Treasury issues licenses to allow the sale of Lukoil's foreign assets and exempts Bulgaria's Burgas refinery from sanctions to safeguard partner energy security.
Saudi Aramco is set to sign two major liquefied natural gas (LNG) supply agreements in the US next week with Woodside Energy and Commonwealth LNG, according to sources cited by Reuters.
Egypt has signed a cooperation agreement to carry out the final studies for the electricity interconnection project between Egypt and Europe through Italy, aiming to strengthen the country’s position as a regional energy hub. The Egypt-Europe interconnection is designed to export surplus renewable energy to the European continent, with a targeted capacity of up to 3,000 megawatts.
Egyptian General Petroleum Corporation (EGPC) has signed an agreement with Italy’s Eni, to extend the Gulf of Suez and Nile Delta concession until 2040. This extension allows for the full economic utilization of the available oil and gas potential within the concession area. Under the agreement, Eni will begin a new 3D seismic survey campaign to identify untapped resources, leveraging its specialized technologies and deep subsurface geological expertise.
ADNOC Gas reported net income of $1.34 billion in its financial results for the third quarter (Q3) of 2025, up 8% year-on-year (YoY), representing the highest for a third quarter in the company’s history.
