Tepsa Netherlands has announced the next phase of development at its Rotterdam terminal, marking a significant step forward in the company’s commitment to providing sustainable and innovative storage solutions.

With an existing capacity of 212,000 cubic metres and 18 hectares of available land for future expansion, the Rotterdam facility is strategically positioned to support Tepsa’s growth ambitions in one of Europe’s most important energy and logistics hubs. The site is set to play a key role in accommodating the increasing demand for New Energies, chemicals, and biofuels—sectors that are driving the global transition toward cleaner energy systems.

The expansion reflects Tepsa’s broader strategy to align its operations with evolving market needs while reinforcing its position as a trusted partner in the storage and handling of critical energy products. By leveraging Rotterdam’s strategic location and infrastructure, Tepsa is preparing for the next generation of storage technologies designed to meet the sustainability goals of tomorrow’s energy landscape.

As this new chapter unfolds, Tepsa Netherlands continues to demonstrate its dedication to growth, innovation, and sustainability within the European storage sector.

Stay tuned for further updates as Tepsa continues its journey toward a cleaner, smarter, and more resilient storage future.

For more information visit www.tepsa.com

Jotun, a global leader in protective coatings, announces the launch of Jotachar 1709 XT, the latest innovation to its industry-leading Jotachar range of trusted intumescent fire protection coatings for the oil and gas industry. Engineered for fire performance in the most demanding environments, delivering competitive loadings and installation cost, Jotachar 1709 XT is optimised for UL1709 projects and strengthens the recognised Jotachar range with now products suited for all types of project scenarios.

Ensuring the safety and integrity of steel assets is critical, especially as the industry faces increasing challenges — from reducing the carbon footprint, to limiting the risks of fires and cryogenic spills. In the face of hazards or the pressure of tight schedules, time is essential and trusted performance is everything. Jotun’s range of passive fire protection coatings through its Jotachar brand, is engineered, tested, and certified to withstand extreme conditions, protecting people and assets, and its latest addition, Jotachar 1709 XT, is presented to the industry for the first time at ADIPEC.

“Jotun revolutionised the intumescent fire protection industry when it launched Jotachar JF750 in 2013, as the industry’s first mesh-free application solution for all hydrocarbon fire scenarios. Now Jotun enhances the Jotachar range with its latest edition, Jotachar 1709 XT – developed and optimised for onshore new construction projects requiring UL1709 certification,” said James Irving, global R&D manager for Fire Protection in Jotun.

As a patent pending all-climate capable fire protection coating, developed for the most extreme environments, Jotachar 1709 XT enables efficient installation for projects with all levels of complexity.

“Jotachar 1709 XT assures efficiency in projects through lower material consumption, delivering significant cost savings making it a relevant solution for energy projects worldwide. Our Jotachar range will now provide value to the industry whether delivering application efficiency with low applied weight and cost, or enabling fast on-site completion of connections, block-outs and maintenance scopes.”

Jotachar 1709 XT will deliver uncompromised reliability, ensuring consistent application and project efficiency, with its demonstrated first-class application properties:

• Consistent and proven application performance across challenging environments in-shop and at site
• Excellent and reliably robust application efficiency, regardless of conditions
• Fast thickness build-up with an extended workability window of 15–20 minutes, even at high steelwork temperatures up to 50°C

Jotachar 1709 XT has also undergone comprehensive third-party testing and is fully certified by leading regulatory bodies. Additional extensive testing includes long term durability, adhesion, char stability, and mechanical integrity have been proven through certified testing protocols. Over 1 km steel was coated and more than 35,000 kg coating manufactured as part of the internal R&D testing, prior to launching the product.

“As always, choosing a Jotachar product comes with Jotun’s market-leading support. Our team of more than 1,200 dedicated coating advisors worldwide — the largest team of coatings advisors in the industry — collaborate closely through local teams with contractors to ensure project success. Customers benefit from the Certified Applicator Scheme, inspection and testing guidance, and Jotun Fire Engineering Services offering expert support such as loading calculations and passive fire protection (PFP) weight optimisation”, said James Irving in Jotun.

Explosion, hydrocarbon fire and cryogenic spill represent a significant hazard within oil, gas as well as petrochemical facilities.

“The cost of operational downtime, combined with financial and environmental consequences related to fire incidents at oil and gas facilities, is a serious issue. However, the risks these incidents represent in terms of human life and damage to assets is the most important reason to be investing in prevention and protection measures. Announcing this product today is a milestone for us, ensuring our position as a trusted partner for the industry when it matters the most,” said Gary Bennett, global sales director Energy in Jotun.

For more information visit www.jotun.com/gb-en

F.E.S. TANKS is proud to have supplied the bulk storage tanks for Viva Energy’s major new $25 million lubricant facility at Karratha, which officially opened last month.

The project features a bulk lubricant tank farm consisting of 10 x 200kl and 4 x 100kl containerised bulk storage tanks for 10 different oil based lubricants. The new F.E.S. tanks store 2.4 million litres of lubricants and are part of a state-of-the-art 1,000lpm loading and unloading lubricant management system built by Nqpetro, the main contractor on the project.

Image courtesy of F.E.S. TANKS

F.E.S. TANKS worked closely with Nqpetro to ensure tank specifications, manufacturing and delivery were on time and within budget. This extended to the design and delivery of stairs, walkways, handrailing and tank top access. 10 tonnes of walkways and handrailing along with 360 tonnes of fuel storage tanks made for a sizeable upgrade to the Viva site.

The tanks provide the central storage element for the bulk facility, which is set to transform supply chains for mining, oil and gas and construction projects in the Pilbara region, reducing road freight by about 450,000km annually.

F.E.S. TANKS director Daryl Cygler said:

“Our involvement as the storage tank supplier for this major project is testament to the F.E.S. team’s commitment to high quality products built for Australian conditions.

“We’re incredibly proud to be involved in a project like this. Everything about it has been precision engineered, and it’s all underpinned with our tanks as the main storage element.

“Our collaboration with Nqpetro and Viva was demanding, and that’s to be expected given we were all working on delivering an exceptional outcome.

“This is an important facility that will benefit industries in one of Australia’s harshest and most remote environments. It’s satisfying to be part of something that will make such a huge difference in the Pilbara and beyond.”

Nqpetro commercial projects Director Anton White said:

“Choosing F.E.S. containerised tanks was driven by their strong reputation and quality assurance, ensuring reliability for this critical hydrocarbons storage solution.

“Delivering the tanks directly into Dampier port minimised transportation challenges, while partnering with F.E.S. enabled a comprehensive system installation—including walkways, stairways, and tank top access—offering a seamless, one-stop solution.”

F.E.S. TANKS is a leading provider of high-quality, self-bunded fuel storage tanks and versatile refuelling solutions to industries on the move. They also specialise in tank farms and custom-built projects for all types of hydrocarbon storage.

For more information visit www.festanks.com.au

Coastal Bend LNG has announced plans to evaluate the use of Honeywell’s modular liquefied natural gas pretreatment solutions for its proposed natural gas liquefaction and export facility along the Texas Gulf Coast. The facility is designed to expand LNG production capacity in support of global energy security.

Honeywell’s modular pretreatment systems are engineered to remove contaminants from natural gas, offering potential reductions in construction costs and project timelines. By incorporating this technology, Coastal Bend LNG aims to improve production efficiency, operational reliability, and overall performance.

According to Carlos Guzman, chief operating officer of Coastal Bend LNG, the company remains focused on adopting processes that enable the delivery of low-carbon LNG to international markets. Guzman highlighted Honeywell’s established technology portfolio and its willingness to collaborate and integrate solutions as key advantages for the project.

Rajesh Gattupalli, president of Honeywell UOP, noted that as global energy demand continues to increase, Honeywell’s LNG technologies will be instrumental in enhancing project execution and operational dependability. He emphasised that Honeywell’s LNG portfolio offers proven, customisable solutions designed to help customers optimise production and reduce costs.

For more information visit www.coastalbendlng.com

BASF is reportedly nearing an agreement to sell its coatings division to private equity firm Carlyle for approximately €7 billion, marking one of Germany’s largest corporate transactions of the year. The potential deal underscores a significant realignment within Europe’s chemical sector, a shift driven by structural and economic pressures that are reshaping the industry’s foundations.

This divestment reflects more than a single corporate strategy. It signals a broader transformation across the continent’s industrial landscape. Since the onset of the Ukraine conflict, high energy costs have eroded Europe’s manufacturing advantage. Simultaneously, persistent overcapacity, muted demand, and intensifying competition from Chinese producers have compelled even the most established players to reassess their business portfolios.

Industry-Wide Realignment

The BASF-Carlyle deal follows a growing trend of portfolio streamlining among major chemical producers. LyondellBasell has recently sold four European plants, while ExxonMobil and Sabic are both exploring partial exits from the region. BASF itself has been active in reshaping its portfolio—selling its decorative paints business in Brazil to Sherwin-Williams, considering the sale of its feed enzymes unit, and preparing to list its agrochemicals division by 2027.

Private equity investors, meanwhile, continue to deepen their presence in the sector. Carlyle already owns Nouryon, formerly AkzoNobel’s specialty chemicals business, and appears confident that long-term value remains in areas where traditional industrial players are consolidating.

A Turning Point for Europe’s Industrial Core

The unfolding wave of divestments and acquisitions represents a rebalancing of Europe’s industrial identity—from broad, vertically integrated portfolios toward more specialised, capital-efficient business models. It also reflects a shift from regional dominance to global competitiveness, increasingly under diversified ownership structures that include financial investors.

For Germany, this transformation poses both a challenge and an opportunity. As global cost structures evolve, the country faces the task of redefining industrial leadership—preserving innovation and value creation while adapting to new economic realities.

The key questions now confronting policymakers and industry leaders are clear: How can Europe maintain its competitive edge amid rising global pressures? And how can its industrial base emerge stronger, leaner, and more resilient in the decade ahead?

For more information visit www.basf.com/gb/en

J. de Jonge TankX has strengthened its footprint in Asia through the successful completion of a major tank jacking operation on Pulau Bukom, Singapore. The company lifted a 76-metre diameter external floating roof storage tank as part of a broader maintenance and upgrade initiative, marking a key milestone in its regional expansion strategy.

The project, executed in collaboration with PEC Ltd, involved intricate planning and engineering precision. A comprehensive tank jacking calculation was performed prior to the lift to ensure full structural control, accuracy, and safety throughout the operation. The next phase of work will include foundation tilt correction, bottom and annular plate replacement—critical steps in restoring the tank’s long-term integrity and operational reliability.

In a demonstration of cultural awareness and commitment to safety, the project began with traditional Indian and Chinese blessing ceremonies held on site. These rituals underscored the importance of teamwork, respect, and shared responsibility in a complex industrial environment.

TankX credited the successful execution of the lift to strong collaboration between all partners involved. “This complex operation was carried out as one team,” the company stated, extending special thanks to PEC Ltd for its cooperation and dedication throughout the project.

The Pulau Bukom project highlights TankX’s growing role in delivering advanced tank maintenance and lifting solutions across Asia, reinforcing its reputation for technical excellence, cultural integration, and safety leadership in the global energy infrastructure sector.

For more information visit www.jdejonge.com

Fermi America™, the developer behind what is set to become the world’s largest behind-the-metre artificial intelligence private grid campus in collaboration with the Texas Tech University System, has entered into an agreement with Energy Transfer, one of North America’s largest and most diversified midstream energy companies. Under the agreement, Energy Transfer will deliver firm natural gas supply to Fermi’s HyperGrid™ campus located outside Amarillo, Texas.

Energy Transfer operates approximately 140,000 miles of pipelines and related infrastructure across 44 states, making it a trusted provider of reliable energy delivery. The partnership ensures stable natural gas supplies for Fermi America’s 5,236-acre campus, which aims to redefine energy reliability and scalability for AI-driven operations.

Image from Fermi America

As part of the agreement, Fermi America will connect directly to Energy Transfer’s pipeline just south of the campus, securing access to the natural gas required to power the next generation of artificial intelligence. The interconnection project is expected to enter service in the first quarter of 2026 and will require minimal capital investment from Fermi America.

Toby Neugebauer, Co-Founder and CEO of Fermi America, emphasised the strategic importance of the partnership: “What makes our Amarillo campus one of the top sites in the country for other clean sources of energy is that it was first an elite natural gas site. This agreement with Energy Transfer secures the firm natural gas supply necessary to generate our first two gigawatts of clean, reliable power for our AI data centre customers.”

The agreement represents another milestone in Fermi America’s mission to advance the HyperGrid™ campus and bring its gas-fired generation supply chain assets—secured earlier in the year—into operation. It also underscores the company’s continued commitment to rapid execution and measurable progress toward building a resilient, scalable energy ecosystem for AI and high-performance computing applications.

For more information visit www.fermiamerica.com

LBC Tank Terminals has been awarded the EcoVadis Platinum Medal for 2025, marking the third consecutive year the company has been recognised among the top 1 percent of global organisations assessed by EcoVadis. The prestigious rating underscores LBC’s continued leadership in sustainability and responsible business practices.

EcoVadis evaluates more than 130,000 organisations across over 180 industries worldwide, assessing performance in key areas such as environmental stewardship, labour and human rights, ethics, and sustainable procurement. Achieving Platinum status places LBC among a select group of companies demonstrating exceptional commitment to corporate responsibility and long-term sustainability.

The recognition reflects LBC’s sustained efforts to enhance operational efficiency, reduce its environmental footprint, and maintain the highest standards of governance, safety, and ethical conduct. It also highlights the dedication of LBC’s employees and the company’s ongoing collaboration with customers and partners to foster a more sustainable and resilient future for the tank terminal industry.

LBC’s continued Platinum rating reinforces its ambition to lead through action—embedding sustainability across its operations and delivering measurable value for stakeholders, communities, and the environment.

For more information visit www.lbctt.com

Advario Helios Singapore has received its first shipment of B30 biofuel, marking a significant milestone in the company’s commitment to supporting a more sustainable energy future. The achievement follows close collaboration with one of Advario’s key customers and underscores a shared ambition to accelerate the energy transition within the maritime sector.

B30 biofuel, produced from renewable feedstocks, is a blend containing 30 percent bio-based components. The fuel offers a lower-carbon alternative for the shipping industry, contributing to global efforts to decarbonise marine transport and reduce greenhouse gas emissions.

Since its commissioning in 2008, the Advario Helios Terminal has played a pivotal role in Singapore’s bunkering industry. In line with Singapore’s Green Plan 2030 and the Energy Market Authority’s decarbonisation goals, the terminal has expanded its capabilities to support the handling and storage of sustainable fuels such as biofuels. This evolution reflects Advario’s broader strategy to integrate renewable and low-carbon energy solutions into critical supply chains, driving progress toward a cleaner energy landscape.

The successful receipt of B30 biofuel highlights the power of partnership and collaboration in creating tangible environmental impact. By working closely with customers and industry stakeholders, Advario continues to advance practical solutions that contribute to a more sustainable future for Singapore and the global energy sector.

For more information visit www.advario.com

Emerson, a global leader in industrial technology and advanced automation solutions, has unveiled a redesigned AMS Trex™ Device Communicator, offering expanded functionality, improved security, and a more intuitive user experience for field personnel. The latest version introduces upgraded hardware and software, enhanced connectivity, and additional certifications, making it safer, faster, and more efficient to use in a range of field applications.

The new design enables the AMS Trex Device Communicator to support calibration activities, allowing users to streamline workflows and reduce the number of tools required in the field. With connectivity to more than 2,500 field instruments—including devices from both Emerson and third-party manufacturers—the AMS Trex communicator has long been a trusted interface for configuration and diagnostics. Previously, however, its measurement tolerances were designed for reference rather than calibration, requiring technicians to carry additional equipment for official calibration tasks.

The redesigned communicator now supports National Institute of Standards and Technology (NIST) traceability, ensuring that all measurements and current sourcing meet the precision required for calibration activities. This certification provides technicians with confidence that the device meets rigorous accuracy standards, helping to simplify maintenance operations and reduce downtime.

“As more organisations embrace Emerson’s Boundless Automation vision—an architecture that seamlessly integrates the field, edge, and cloud—their maintenance and reliability teams will need to manage more assets than ever before,” said Erik Lindhjem, vice president of Emerson’s reliability solutions business. “The new AMS Trex communicator empowers these teams to manage, configure, and perform field calibrations across a wide range of Emerson and third-party devices, maximising both time and data utilisation.”

Further extending its versatility, the redesigned AMS Trex Device Communicator introduces HART^® communication via Bluetooth^®, enabling connection to Bluetooth-enabled field devices and expanding its application library for maintenance and reliability use cases. Enhanced platform security features protect against unauthorised software and system compromise, ensuring the integrity of both the device and the plant network.

Equipped with eight times more memory than its predecessor, a powerful quad-core processor, and a modernised operating system designed for familiarity and ease of use, the new AMS Trex Device Communicator delivers the performance, connectivity, and reliability that today’s industrial teams demand.

For more information visit www.emerson.com

Halo Capital has partnered with global engineering consultancy Penspen to accelerate the development of two of Australia’s most significant energy redevelopment projects – Hussar and Mt Winter – unlocking vast helium and hydrogen reserves critical to global supply chains and the transition to cleaner energy.

Penspen has signed a Memorandum of Understanding for engineering and project management expertise across the full development cycle, from feasibility studies to commissioning, ensuring the projects meet the highest technical and regulatory standards. In August 2025, Australian exploration company Georgina Energy Plc granted London-based Halo Capital a 12-month nonexclusive option to acquire the rights to 100 percent of helium, hydrogen and natural gas produced from its two large-scale gas redevelopments. Together, with the expertise of Penspen, the companies aim to position Australia as a leading supplier of helium, hydrogen and hydrocarbons for Asia Pacific and beyond.

Hussar, located in Western Australia’s Officer Basin, and Mt Winter in the Amadeus Basin, Northern Territory, are recognised as prospects of significant national importance. With proven reserves and fresh drilling applications underway, both sites have the potential to deliver significant volumes of helium and hydrogen – gases central to medical technology, industrial processes and the decarbonisation of global energy systems.

Development of Critical Infrastructure

Upon securing funding, Halo Capital will be responsible for the delivery of processing facilities, including separation units for helium, hydrogen and cryogenic purification systems. Once operational, they will be solely responsible for storage, transport, export, trucking helium to Darwin, and converting ammonia to hydrogen. The agreement will enable Westmarket Oil & Gas, Georgina Energy’s wholly owned Australian subsidiary, to sell gas at the wellhead in its raw state, subject to a formal contract on commercial terms.

Under the MoU, Penspen would provide a wide scope of engineering services, including concept/feasibility, FEED, detailed design and procurement support covering the full chain from wellhead to export. They would also provide project management support including scope/basis definition, tendering and bid evaluation, CAPEX estimating, contract preparation, project controls, and site/commissioning supervision.

Penspen is an international consultancy with over 70 years’ of energy engineering heritage. The company has significant experience in the delivery of complex oil and gas infrastructure, and has developed a reputation as partner of choice for low carbon projects, with hydrogen, green ammonia, and CO2 programmes delivered across the United Kingdom, Ireland, Portugal, Turkey, Latvia, Colombia, and the United Arab Emirates.

Nick Clarke, chief executive officer, Halo Capital commented: “Halo Capital are very pleased to have Penspen join our efforts to develop the Hussar and Mt. Winter projects, bringing with them their deep technical expertise and project management experience. Partnering with Penspen will ensure that our project teams will be able to meet all technical and regulatory requirements to drive these and our future projects forward.”

Peter O’Sullivan, chief executive officer at Penspen, said: “We are delighted to work with Halo Capital as engineering partner on this transformative development in Australia.  

“Our unwavering aim is to improve access to secure and sustainable energy, and Hussar and Mt Winter offer tremendous potential to address the growing gap between supply and demand for helium, as well as further develop hydrogen’s critical role in decarbonising global industrial sectors.  

“Penspen’s extensive experience in the delivery of low carbon infrastructure systems, from feasibility and conceptual studies to detailed design and ongoing operations and maintenance, means we are well placed to support Halo Capital in the development of this project of national importance.” 

For more information visit www.penspen.com

Rotork is delighted to announce the launch of the RTP-4000 range, a new generation of intelligent valve positioners designed to deliver optimised control solutions for single- and double-acting actuators on rotary and linear valves.

Launching with the dual-certified RTP-4400 model, this initial release combines smooth installation and commissioning, premium online diagnostics, robust construction, and seamless system integration for fast and energy-efficient operation in demanding oil and gas applications, as well as in other industries requiring high-end valve control solutions.

The range features magnet-based contactless position feedback, eliminating mechanical wear and ensuring long-term reliability for both linear and rotary actuators.

Advanced pressure sensor-based diagnostics provide online real-time device status and predictive maintenance capabilities, while a user-friendly dashboard offers at-a-glance valve status.

The rugged, corrosion-resistant construction, featuring copper-free aluminium and electronic circuits potted in resin, ensures durability even in harsh conditions, and an arctic option extending the temperature range down to -55 °C.

The positioner integrates easily with all major control and asset management systems, and the dual certification enables the use in both explosionproof and intrinsically safe areas.

High pneumatic capacity enables rapid valve operation, and optimised supply air consumption helps customers to achieve greater efficiency and lower operational costs.

Additional options include analogue and digital outputs, pressure gauges, and support for Emergency Shutdown (ESD) applications with partial stroke testing capability.

Juha Kivelä, global product manager – Pneumatic Actuation and Instrumentation at Rotork, said: “With the RTP-4000, we are meeting the requirements of the high-end process industries and extending our already comprehensive Rotork Positioner offering to the next level. Our customers will benefit from the smooth installation, user-friendly online diagnostics, and rugged construction, providing long-term reliability. The smart design features will help to achieve greater operational efficiency and give peace of mind in even the most challenging applications.”

For more information visit www.rotork.com

Creaform, a business of AMETEK, Inc. and worldwide provider of automated and portable 3D measurement solutions, has announced the latest addition to its trusted HandySCAN 3D™ line-up of 3D scanners, the PRO Series. A fully integrated hardware and software solution, this new series leverages quick and high-resolution data acquisition capabilities through its scanner, as well as the power of the Scan-to-CAD Pro software module to provide the fastest time from data acquisition to 3D models, optimising reverse engineering and product development workflows.

Creaform pioneered the handheld, self-positioning 3D laser scanning category over two decades ago with the HandySCAN 3D, establishing its reputation for accuracy, versatility, and efficiency across all industries, and continues this legacy with the HandySCAN 3D|PRO Series. This latest innovation offers a more powerful, accessible, and reliable solution to measure complex shapes to greatly reduce time-to-market, and lower development costs for SME. Manufactured in North America and backed by global, multilingual service teams, the PRO Series is built for the professionals who need to develop products that are more suited to customer needs, faster, more accurately.

The HandySCAN 3D|PRO Series, bundled with Scan-to-CAD Pro, combines advanced technology with user-friendly design to optimise product development processes and deliver reliable results. Below are the standout features that make it a preferred choice for professionals across industries, when looking for the fastest path to reverse engineering.

High Accuracy & Resolution: Features 23 blue laser lines for detailed, high-quality scans, capable of handling complex shapes and difficult surfaces with a proven and trusted accuracy of 0.030 mm, ensuring rapid 3D data acquisition.
Value for money: With a hardware and software combo starting at US$24,990, this professional portable 3D scanner provides a rapid return on investment (ROI) due to its versatility and time-saving features.
Integrated software: Includes the intuitive Scan-to-CAD Pro software module, optimised for 3D scan data and ideal for reverse engineering and product development, providing the fastest time from scans to CAD, through a versatile toolbox including powerful mesh extraction, sketching and modelling tools.
Simplicity: This integrated solution is designed to enhance user experience, allowing individuals to operate it effortlessly through its intuitive multi-function LCD touchscreen and haptic feedback via vibration.
Time savings: Enables a significant reduction in iterations within the product design and development cycle for increased efficiency, thereby decreasing product development time, accelerating time-to-market and empowering quicker revenue generation.
Versatility: Capable of measuring and analysing any component, it can be used to design new parts, adapt or maintain old parts, create 3D models, look for innovative ways to surpass competition, support sales in business development, and better manage deadlines.

“Reinventing the future of industrial metrology since 2005, the new PRO Series is poised to become the preferred solution for rapid product development and reverse engineering, further solidifying the HandySCAN 3D lineup as an industry benchmark,” explains Pierre-Luc Delagrave, product manager at Creaform, before adding that “with its smart price, it offers the best tool to quickly transform concepts to reality, from design to manufacturing, ensuring a perfect fit on the first try, every time.”

For more information visit www.creaform3d.com

i6 Group, the global leader in digital fuel management solutions for the aviation industry, has announced the successful closure of a $20 million Series B funding round led by Yttrium, with continued participation from existing investors International Airlines Group (IAG), World Kinect, and Shell Ventures.

The investment will support i6’s next phase of growth, focusing on international expansion, further development of its technology and data infrastructure, and the strengthening of its global teams delivering cutting-edge fuel management solutions.

Co-founder Alex Mattos highlighted the significance of the new funding, stating that it reflects the strong momentum behind i6’s technology and the tangible results achieved for customers worldwide. “With the new funding, we can expand our footprint faster and continue shaping the future of digital fuel management,” he said.

Fellow co-founder Steve Uhrmacher added that digital fuelling is rapidly becoming the operational standard in aviation. “This investment helps us accelerate that transition by equipping airports and airlines with smarter, more connected systems that drive efficiency and reduce emissions at scale,” he noted.

i6’s cloud-based technology connects all stakeholders across the fuelling ecosystem, replacing manual, paper-based processes with real-time digital operations. Deployed across hundreds of airports worldwide, the platform enhances operational visibility, safety, and environmental performance through intelligent fuel management and data-driven insights.

Commenting on the investment, Tim Kindt, Partner at Yttrium, said: “i6 has developed a unique technology platform that is transforming how aviation fuelling is managed globally. The company’s strong growth and ongoing support from existing investors underscore our confidence in its vision and execution. We are proud to partner with i6 as it enters its next stage of growth.”

Arma Partners served as exclusive financial advisor to i6, with legal counsel provided by Bird & Bird. Yttrium was advised by Fladgate.

For more information visit www.i6.io

Hydrogenious LOHC Technologies, German pioneer in the field of liquid organic hydrogen carriers (LOHC), has signed a contract with the Griesemann Gruppe for the Front End Engineering and Design (FEED) and the subsequent EPCM phase (Engineering, Procurement and Construction Management) for its “Green Hydrogen @ Blue Danube” project.

The scope of work includes engineering, procurement and construction services for the world’s largest LOHC release plant at the Bayernoil refinery in Vohburg, with a release capacity of up to five tons of RFNBO-certified hydrogen from LOHC per day. Corresponding to 1,800 tons of green hydrogen per year, this can replace grey hydrogen produced from natural gas and thus save up to 16,000 tons of CO₂ annually. A potential expansion of the dehydrogenation plant could further contribute to a secure hydrogen supply and future decarbonisation of industries in the Danube region.

The FEED phase is planned to be completed in the second half of 2026 which will represent an important milestone to reach FID (Final Investment Decision) of the “Green Hydrogen @ Blue Danube” project. Following a positive FID, the construction phase will begin on site. Start of commercial operations is planned for mid-2028.

First LOHC supply chain will secure hydrogen availability in Bavaria

Hydrogenious’ project “Hector” demonstrates the large-scale storage of RFNBO-certified hydrogen in LOHC with a storage plant at Chempark Dormagen, North Rhine-Westphalia. The “Green Hydrogen @ Blue Danube” project will establish a corresponding release plant on the offtaker side.

Combined, the two projects form the “LOHC Link” – a comprehensive and sustainable hydrogen value chain including storage in LOHC, safe transport, and the release and supply of RFNBO hydrogen to industrial offtakers.

 Project of Common European Interest

 The “Green Hydrogen @ Blue Danube” project has been notified as an “Important Project of Common European Interest” (IPCEI) by the European Commission and receives funding from the German Federal Government and the Bavarian State Government.

The plant will be operated based on Hydrogenious’ innovative Liquid Organic Hydrogen Carrier (LOHC) technology, which uses the thermal oil benzyl toluene (LOHC-BT) as a carrier material to store hydrogen safely, efficiently, and flexibly. The LOHC-BT can be transported by deploying already established infrastructure for conventional mineral oil products. As part of the “LOHC Link” supply chain, hydrogen-loaded BT will be transported by truck at ambient conditions.

 Competent and experienced partner for FEED and EPCM

 Following a tender process, Hydrogenious selected the Griesemann Gruppe as its engineering partner for the FEED phase, with the aim of developing the project to FID. Given the Griesemann Gruppe’s project execution capabilities for complex process plants, Hydrogenious intends to entrust the Griesemann Gruppe with the EPCM services of the world’s first industrial-scale LOHC release plant.

With over 1,750 employees at more than 40 locations in Germany, Austria, and the Netherlands, the Griesemann Gruppe is a leading engineering company and EPC contractor in the process industry. The family-owned business specializes in the design, construction, and maintenance of industrial plants for over 45 years and has in-depth expertise in process engineering and complex infrastructure projects.

 Statements

 Dr. Stefan Bürkle, chief operating officer, Hydrogenious LOHC

“Launching the FEED phase, is a strong sign of scaling-up our LOHC technology to an industrial level – and will kick-start the implementation of the first commercial LOHC value chain of a material size. The storage and release plants combined will demonstrate how hydrogen can be stored, transported, and supplied safely and efficiently – decarbonizing industries and ensuring security of hydrogen supply.”

Dr. Andreas Lehmann, chief executive officer, Hydrogenious LOHC

“At a time when the hydrogen economy is facing uncertainties, we need tangible projects and technology-neutral approaches. The FEED phase for “Green Hydrogen @ Blue Danube” is not only a technical milestone – it is a signal to policymakers and industry to stay on track and actively shape the ramp-up of the hydrogen economy based on innovative solutions such as LOHC.”

Uwe Gaudig, managing director of Griesemann Gruppe

“Hydrogenious’ LOHC technology creates the essential conditions for the scaling and availability of green hydrogen. The Griesemann Gruppe is delighted to be part of bringing this innovative technology to fruition, in collaboration with our partner. Drawing on our experience as a leading engineering partner and EPC contractor, we are committed to contributing to the energy transition and transformation of industry. Ensuring safe and efficient transport is a vital step in the hydrogen value chain.”

For more information visit www.hydrogenious.net

Baker Hughes, an energy technology company, has announced an award from Aramco to expand its integrated underbalanced coiled tubing drilling (UBCTD) operations across Saudi Arabia’s natural gas fields. The order was booked in the third quarter of 2025.

Under the multi-year agreement, Baker Hughes will increase its UBCTD fleet from four to ten units, supporting both re-entry and greenfield drilling projects across multiple fields in the Kingdom. The company will deliver fully integrated solutions, encompassing coiled tubing drilling units, underbalanced drilling services, operational management, well construction, and geosciences. This approach aims to accelerate gas access from both new and mature fields while optimising operational efficiency.

“This project is the result of nearly two decades of successful collaboration between Baker Hughes and Aramco, which have set the standard for UBCTD,” said Amerino Gatti, executive vice president of Oilfield Services & Equipment at Baker Hughes. “By combining advanced technologies with a holistic, integrated approach, we can support Aramco in efficiently accessing bypassed and hard-to-reach hydrocarbons, enabling the Kingdom to continue to thrive. This expansion lays the groundwork for further innovation in UBCTD, shaping the future of oil and gas production worldwide.”

Baker Hughes’ UBCTD offering features its industry-leading CoilTrak™ bottomhole assembly (BHA) system and enhanced reservoir analysis powered by GaffneyCline™ energy advisory. This combination enables precise subsurface navigation during horizontal drilling and re-entry operations. By integrating these technologies with comprehensive project management services, Baker Hughes enhances production efficiency, speed, and safety while minimising reservoir damage compared to traditional methods.

The agreement further strengthens Baker Hughes’ longstanding presence and proven track record in Saudi Arabia, where it has operated in the UBCTD market since 2008. Maintaining a strong health, safety, and environment (HSE) performance, the company continues to deliver operational excellence through its existing four UBCTD units. Work under the expanded agreement is expected to begin in 2026.

For more information visit www.bakerhughes.com

Exolum, an international leader in transportation and storage of liquid products, manages Europe’s largest refined products network and ranks first in Europe for storage capacity and seventh globally. At the Eastham facility near the Port of Liverpool, Exolum and Peel Ports Group work in partnership to fulfill critical roles in national and regional fuel supply chains.

Exolum’s mission centres on moving and managing molecules, operating pipelines and tanks necessary for transporting and storing fuels relied upon for air and road transport, alongside chemicals used to produce everyday consumer products. This mission is exemplified by the world-class facility at Eastham on Merseyside, where the partnership with Peel Ports Group proves essential.

Exolum owns and operates a network of fuel and chemical storage terminals and pipelines across 11 countries worldwide, specialising in storage and transportation of diverse bulk liquids. From traditional fuels to biofuels and chemicals, the company’s expertise ensures essential products reach destinations safely and efficiently, supporting British businesses and household mobility.

The Eastham facility serves as a critical hub for United Kingdom and north-west England storage and distribution of road fuels, biofuels, and chemicals for manufacturing everyday products. The site provides storage capacity for up to 325 million litres of products—sufficient petrol to drive a car nearly 3 billion miles.

The facility connects to global markets through multiple transport modes. Four dedicated jetties enable receipt of products from ships arriving internationally, whilst facilities are configured to seamlessly load road tankers for national and regional distribution. The site serves diverse industries across Merseyside and northern England, including oil, chemical, and aviation sectors, playing critical roles in national and regional supply chains serving customers and the broader UK economy.

Exolum’s success at Eastham depends upon the strength of partnership with Peel Ports Group. Peel Ports provides vital maritime infrastructure enabling operation of four deep-water jetties, delivering secure and efficient access for ships offloading products from around the world. This connectivity links customers with clients whilst ensuring robust, resilient, and competitive markets for products serving UK businesses.

The Eastham facility plays crucial roles in Exolum’s plans for delivering sustainable fuels supporting economic decarbonisation. Recent investment increasing renewable diesel storage capacity at Eastham enables Merseyside businesses to access competitive, reliable biofuel supplies for goods vehicles, reducing carbon footprints by 80%. The facility’s expertise in handling chemicals, including methanol, positions it well for managing green shipping fuels required for maritime decarbonisation. New agreements enable handling of additional bioethanol supplies blended with petrol for forecourts across northern England.

Exolum anticipates continuing strong partnership with Peel Ports Group whilst navigating the transition toward sustainable energy infrastructure. The collaboration demonstrates how integrated port and terminal operations support both traditional energy supply security and emerging low-carbon fuel requirements.

The Eastham facility exemplifies the strategic importance of coastal energy infrastructure combining deep-water port access, substantial storage capacity, and multimodal distribution capabilities. These integrated capabilities enable efficient import, storage, and regional distribution of liquid fuels and chemicals essential for economic activity whilst accommodating evolving product portfolios incorporating increasing proportions of renewable and low-carbon alternatives.

The partnership between Exolum’s terminal operations expertise and Peel Ports’ maritime infrastructure capabilities creates synergies supporting operational efficiency, supply chain resilience, and adaptability to changing energy markets. As UK energy policy emphasises both security of supply and decarbonisation objectives, facilities like Eastham serving dual functions of maintaining traditional fuel supplies whilst enabling sustainable fuel adoption prove strategically valuable.

For more information visit www.peelports.com

Oman Tank Terminal Company (OTTCO), a subsidiary of OQ Group, and Royal Vopak, signed today a shareholder agreement to establish a new company in the Special Economic Zone at Duqm (SEZAD). The agreement, concluded during the Duqm Economic Forum 2025, reflects OQ’s continued commitment to expanding its investments in Duqm and supports national efforts to attract foreign investment and strengthen global partnerships in one of the region’s fastest-growing industrial and logistics hubs.

The agreement was signed by Ashraf Hamed Al Mamari, group chief executive officer of OQ and Chris Robblee, president of Asia and Middle East, Vopak.

Under the new partnership, OTTCO will hold a 51 percent share and Vopak 49 percent, with the new company set to develop and operate world-class energy storage and terminal infrastructure at Duqm. These facilities will support both traditional energy flows and the evolving demands of the global energy transition towards more integrated and sustainable ecosystems.

By combining OTTCO’s strategic role as a cornerstone in crude storage and transport and Vopak’s global expertise in terminal operations, the partnership will establish a new entity that drives sustainable industrial growth and leverages Duqm’s strategic location along key international shipping routes.

OTTCO currently operates the Ras Markaz crude oil storage terminal, with a total capacity of 26.7 million barrels, including 5.2 million barrels dedicated to the Duqm Refinery. The company also manages the Duqm Port storage and export terminal. Since commencing operations in 2023, OTTCO has handled more than 176 million barrels of crude oil through 98 vessels at Ras Markaz and over 21 million barrels through 560 vessels at the Duqm export terminal.

“Eng. Salim bin Marhoon Al Hashmi, managing director of OTTCO said: “This partnership is a strategic move toward unlocking the full potential of Duqm as a catalyst for economic diversification, industrialisation and sustainable growth. Together with our partners, we are shaping a future-ready platform that positions Oman at the heart of global energy and industrial transformations.”

Marcel van de Kar, managing director Oman at Vopak, said: “Vopak is excited to collaborate with OTTCO on this strategic partnership in Duqm, marking an important step in expanding our global network. Our companies’ combined strengths in infrastructure development and operational excellence will be instrumental in creating a leading energy hub serving diverse industrial customers while supporting their sustainable growth.”

The initiative aligns with Oman’s national strategy to diversify its economy and position Duqm as a competitive global economic centre and a key driver of sustainable development, supported by a long-term vision focused on enabling the flow of both hydrocarbons and emerging energy fuels such as hydrogen and renewables-based products, unlocking new pathways for Oman’s sustainable industrial growth and reinforcing Duqm’s role as a strategic enabler of global energy transition.

With over USD 10 billion total investments and partnerships in Duqm, including Duqm Refinery – a joint venture with Kuwait Petroleum International (KPI) as well as Marafiq’s partnership with Thailand’s Gulf Energy Development Company, OQ continues to play a central role in driving industrial growth and positioning Duqm as a cornerstone of Oman’s energy and investment future.

For more information visit www.vopak.com

Technology group Wärtsilä has signed a five-year operation and maintenance (O&M) agreement with an outcome-based performance model covering three power plants owned by Âmbar Energia, the energy company of J&F Group in Brazil. The agreement, booked by Wärtsilä in Q3 2025, sets defined performance targets to ensure uninterrupted power availability and reliability, aligning both parties around shared results.

Located in the Amazon city of Manaus, each of the three plants delivers 92 MW of power from five Wärtsilä 50SG engines. The facilities were recently converted to run on natural gas, making them the first in Brazil to complete such a transformation.

The joint photo was taken during the visit of Âmbar Energia’s representatives at Wärtsilä’s Sustainable Technology Hub in Finland

The outcome-based structure links financial outcomes to operational performance, encouraging a results-driven partnership between Wärtsilä and Âmbar Energia. Wärtsilä will focus on maintaining high efficiency, reliability, and cost predictability through proactive maintenance, spare parts supply, and digital monitoring to maximise uptime and productivity.

“This agreement with Wärtsilä aims to create value for our business through increased operational efficiency, cost savings, and regulatory compliance. Wärtsilä’s advanced digital tools, predictive maintenance, and lifecycle expertise will help us optimise our assets,” said Fábio Bindermann, operations director at Âmbar Energia.

“This outcome-based agreement with Âmbar Energia ensures that we will achieve shared goals together, taking us a step closer to our decarbonisation targets. It reflects mutual accountability and long-term collaboration,” added Gaston Giani, energy business director at Wärtsilä Energy.

Âmbar Energia, part of Brazil’s largest private conglomerate, J&F Group, operates 43 power generation units across natural gas, hydro, solar, biomass, coal, and biogas. The company is the fourth-largest natural gas power generator in Brazil by installed capacity, contributing to the diversification of the nation’s energy mix.

For more information visit www.wartsila.com

Manta Marine Technologies (MMT) is set to support chemical tanker operator Chemship B.V in slashing its fuel emissions through a new contract to supply and install Manta’s automated propulsion optimisation system, FuelOpt, across nine vessels in the Chemship fleet. The new deal is the result of a successful trial in which FuelOpt was installed on Chemship’s Chemical Challenger vessel to optimise performance of the main engine and suction wings.

The Netherlands-based operator will also benefit from Manta’s performance monitoring, reporting and benchmarking tool, Fleet Analytics.

Chemship B.V.’s Chemical Challenger, the FuelOpt trial vessel

The installations are scheduled to begin with two Japanese-built multigrade vessels being retrofitted by the end of 2025, followed by the remaining tankers during 2026.

This deal marks a major commitment by Chemship to optimise its fleet operations to reduce fuel expenditure and minimise greenhouse gas emissions. FuelOpt automatically adjusts a vessel’s propulsion in real-time, enhancing operational performance and freeing up crew to focus on other essential tasks, rather than having to focus on making multiple manual propulsion adjustments.

FuelOpt is fuel-agnostic, working equally well with conventional or alternative fuels, alongside hybrid propulsion solutions, providing significant benefits to shipowners at a time when options such as wind assisted propulsion are growing in popularity. This means that any ship operator can future proof their fleets with a robust and proven technology that delivers auditable results without compromising on safety.

Whatever fuel option is in use, FuelOpt dynamically adjusts propulsion based on predefined operational needs, such as maintaining a target speed or specific fuel consumption limit. Within these pre-defined parameters, the system automatically ensures that the vessel always operates at the most efficient propulsion power output. This results in consistent and measurable efficiency gains, regardless of external factors like weather or hull fouling, and simplifies carbon emission reporting. When FuelOpt is paired with Wind Assisted Propulsion (WAP) systems, like on Chemical Challenger, it transforms the wind-gained thrust into fuel savings, through automated and precisely executed adjustments of the vessel’s engine propulsion. This offers round-the-clock precision beyond what can be achieved manually.

Fleet Analytics is a real-time, cloud-based, vessel performance monitoring system that collects and analyses high-frequency data from multiple onboard sources. It provides ship owners and operators with actionable insights and allows them to benchmark performance of single vessels or their whole fleet. Fleet Analytics enables fact-based decision-making, reduces administrative workload and integrates with other technologies like FuelOpt and Wind Assisted Propulsion to enhance efficiency and sustainability across fleets. It also comes with a user-friendly, timeline-based reporting feature, aligned with EU-MRV, EU-ETS, FuelEU Maritime, IMO-DCS, and CII.

Commenting on the deal, Richard Engelhart Bjercke, chief commercial officer at Manta Marine Technologies, said, “We are proud to partner with a forward-thinking operator like Chemship as they lead the way in sustainable chemical transportation. This contract underscores the critical nature of propulsion control in achieving net-zero targets with FuelOpt and Fleet Analytics, offering guaranteed performance improvements by seamlessly integrating human expertise with automated decision-making.”

Michiel Marelis, operations director, Chemship, said, “After decades of relying on manually entered, error-prone consumption figures, we finally have everything digitally available on a single platform. This enables us to eliminate all variables and accurately measure the efficiency of our sustainable investments. We now have full control over our fuel consumption and are achieving optimal savings from our Ventofoils, thanks to the Manta Marine Technologies FuelOpt package.”

Chemship operates a sophisticated fleet of stainless steel chemical tankers which are designed to transport a wide variety of liquid bulk materials, including specialised chemicals, vegetable oils, acids, lube oils, aromatics and clean petroleum products.

For more information visit www.mantamarine.com

Last week, teams from Vopak and AltaGas Ltd. gathered at the Ridley Island Energy Export Facility (REEF) in Prince Rupert, marking a significant milestone in their collaboration. Witnessing the project evolve — from the construction of the jetty structure to the arrival of essential components — serves as a powerful testament to the impact of teamwork, engineering excellence, and visionary thinking.

Both organisations take pride in the dedication and leadership displayed by their teams in bringing this world-class energy facility to fruition. This endeavour truly embodies the spirit of nation-building and the remarkable achievements that can be accomplished through collaboration.

For more information visit www.vopak.com

QatarEnergy has completed a farm-in transaction with Eni, acquiring a 40 percent participating interest in the North Rafah exploration block offshore Egypt. The agreement, recently approved by the Egyptian government, grants QatarEnergy a 40 percent stake in the offshore concession, with Eni retaining the remaining 60 percent interest as operator.

His Excellency Mr. Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy, expressed satisfaction with the new position in the North Rafah offshore block, characterising it as further strengthening QatarEnergy’s presence in Egypt and marking another important step in advancing the company’s ambitious international exploration strategy.

His Excellency Minister Al-Kaabi extended thanks to Egypt’s Ministry of Petroleum and Natural Mineral Resources and partner Eni for valued support and cooperation, expressing anticipation for working together to achieve exploration objectives.

The North Rafah offshore block is located in the Mediterranean Sea off Egypt’s northeastern coast, spanning nearly 3,000 square kilometres in water depths up to 450 metres. The block’s location in Egypt’s Mediterranean offshore positions it within a prolific hydrocarbon province that has yielded major gas discoveries in recent years, including the giant Zohr field discovered by Eni in 2015.

QatarEnergy’s acquisition strengthens its international exploration portfolio and Egyptian presence, building upon the company’s strategy of participating in high-potential exploration opportunities globally. The transaction represents continued confidence in Egypt’s offshore potential and the partnership with Eni, which has established strong track record in Egyptian Mediterranean exploration and development.

The farm-in structure enables QatarEnergy to enter the block by acquiring equity from Eni whilst benefiting from Eni’s operatorship and existing knowledge of Egyptian offshore conditions. This approach provides access to prospective acreage with an experienced operator managing exploration activities and stakeholder relationships.

Egypt’s Mediterranean offshore has attracted substantial international exploration investment following major gas discoveries transforming the country’s energy profile. The government has pursued licensing rounds and direct negotiations to maintain exploration momentum and sustain gas production supporting domestic consumption and LNG exports.

Water depths up to 450 metres place the North Rafah block in moderate deepwater conditions requiring advanced exploration and development technologies but remaining within established operational capabilities. The 3,000 square kilometre area provides substantial acreage for geological evaluation and potential multiple prospect development.

QatarEnergy’s international expansion strategy encompasses participation in exploration ventures across multiple regions, leveraging the company’s technical capabilities, financial strength, and operational experience. The Egyptian acquisition complements QatarEnergy’s existing international portfolio spanning Africa, Asia, Latin America, and other regions.

For more information visit www.qatarenergy.qa

Kinder Morgan, Inc. has reported strong third-quarter 2025 financial results, with the board of directors approving a 2 percent dividend increase to $0.2925 per share ($1.17 annualised), payable on 17 November 2025 to stockholders of record as of 3 November 2025.

The company reported third-quarter net income attributable to KMI of $628 million versus $625 million in Q3 2024, with adjusted net income attributable to KMI of $648 million, representing 16 percent growth year over year. Adjusted EBITDA reached $1,991 million, up 6 percent versus Q3 2024, whilst Adjusted EPS of $0.29 increased 16 percent year-over-year.

Executive chairman Richard D. Kinder stated that the United States continues leading the world in natural gas production and LNG exports, providing enhanced energy security to global allies. He characterised the outlook for Kinder Morgan as exceptionally promising, supported by historic growth in global natural gas demand, a favourable federal regulatory landscape, and strong permitting agency support.

Chief executive officer Kim Dang reported that the company generated strong quarterly performance with increased financial contributions from natural gas pipelines, products pipelines, and terminals business segments. The company maintained healthy finances whilst internally funding capital projects, generating cash flow from operations of $1.4 billion and free cash flow of $0.6 billion, up 13 percent and 5 percent respectively. The Net Debt-to-Adjusted EBITDA ratio stood at 3.9 times.

Dang highlighted that KMI is experiencing the most robust opportunity set in company history, with U.S. LNG nameplate capacity expected to more than double by 2030. The company currently holds long-term contracts to move almost 8 Bcf/d of natural gas to LNG facilities, growing to almost 12 Bcf/d by end-2028 upon completion of projects under construction. Total natural gas demand is expected to grow 20 percent through 2030, led by LNG exports, with KMI actively exploring more than 10 Bcf/d of opportunities serving power generation.

The company’s project backlog stood at $9.3 billion at quarter-end, with approximately 90% comprising natural gas projects. The remaining $7.9 billion of backlog projects are expected to generate an aggregate first-full-year project EBITDA multiple of approximately 5.7 times when realised. Approximately 50 percent of the backlog is associated with power generation projects.

Major project developments include TGP’s $93 million South Texas Enhancement Project targeting Q2 2028 service, the $1.8 billion Trident Intrastate Pipeline (Q1 2027), TGP’s $1.7 billion Mississippi Crossing project (Q4 2028), and the $3.5 billion South System Expansion 4 project with phased completion in Q4 2028 and Q4 2029. The $263 million Altamont Green River Pipeline entered service in September 2025.

Kinder Morgan expects to exceed 2025 budget primarily due to contributions from the Outrigger Energy II acquisition, with budgeted net income attributable to KMI of $2.8 billion (up 8 percent versus 2024) and adjusted EPS of $1.27 (up 10 percent). The company expects to declare 2025 dividends of $1.17 per share, a 2 percent increase from 2024. On 11 August 2025, Fitch upgraded KMI’s senior unsecured rating from BBB to BBB+ based on the company’s ability to fund growth capital with internally generated cash flow and favourable leverage levels.

For more information visit www.kindermorgan.com

LBC Tank Terminals has announced achievement of a 5-star rating in the 2025 GRESB benchmark for the third consecutive year, alongside recognition as Sector Leader with a score of 99 points.

The achievement highlights progress in strengthening sustainability throughout operations. The GRESB assessment evaluates performance across key areas including energy and water efficiency, carbon emissions, environmental management, stakeholder engagement, governance, and health and safety.

Recognition as a sector leader for the second consecutive year reflects consistent efforts by teams to embed sustainability in operational practices and growth strategies. LBC Tank Terminals thanked employees, customers, and partners for ongoing support and collaboration in creating long-term value and contributing to a more sustainable future.

The 5-star rating places LBC Tank Terminals in the top performance tier of GRESB participants, with the 99-point score representing near-perfect performance across the assessment framework. GRESB evaluations provide standardised benchmarking, enabling infrastructure investors and asset owners to compare ESG performance across operators and portfolios.

Sector Leader designation recognises top performers within specific infrastructure categories, with LBC achieving this distinction among liquid bulk storage terminal operators globally. Maintaining this position for two consecutive years demonstrates sustained excellence rather than single-year performance anomalies.

The third consecutive 5-star rating indicates consistent high performance and continuous improvement rather than declining from an initial peak. This trajectory reflects embedded sustainability practices and management systems supporting ongoing enhancement rather than one-time initiatives.

Terminal operations face material ESG considerations, including energy consumption for pumping and heating operations, water usage and treatment, emissions from equipment and fugitive sources, safety management for hazardous materials handling, environmental protection preventing spills and releases, and stakeholder engagement with communities near facilities.

LBC’s strong performance across these dimensions indicates comprehensive sustainability integration addressing operational efficiency, environmental protection, safety excellence, and stakeholder management. The 99-point score suggests few improvement opportunities identified by GRESB’s evaluation criteria.

For infrastructure investors utilising GRESB data in portfolio management and capital allocation decisions, LBC’s consistent top-tier performance provides assurance of strong ESG practices potentially influencing investment attractiveness, cost of capital, and asset valuations. Superior GRESB performance can differentiate operators competing for contracts, customers prioritising sustainability, and investor capital.

The acknowledgement of employees, customers, and partners recognises that sustainability performance requires organisational commitment beyond executive initiatives, with operational staff implementing practices, customers supporting sustainable operations through commercial relationships, and partners contributing to supply chain and service provider sustainability.

LBC Tank Terminals’ sustained GRESB excellence positions the company as a sustainability leader within the liquid bulk storage sector, demonstrating that terminal operations can achieve high environmental and social performance whilst maintaining commercial competitiveness and operational effectiveness.

For more information visit www.lbctt.com

Phillips 66 and Kinder Morgan, Inc. have announced the launch of a binding open season for transportation service on the Western Gateway Pipeline (Western Gateway), a newly proposed refined products pipeline system. The Western Gateway project is designed to facilitate the transportation of refined petroleum products from origin points in Texas to major downstream markets in Arizona and California, with additional connectivity to Las Vegas, Nevada, through Kinder Morgan’s CALNEV Pipeline.

The open season will begin at 12:00 p.m. Central Time on October 20, 2025, and conclude at 12:00 p.m. Central Time on December 19, 2025. During this period, interested shippers will have the opportunity to request additional information by contacting Westerngateway@p66.com.

A collaborative effort between Phillips 66 and Kinder Morgan, the Western Gateway Pipeline aims to provide additional capacity for refined products from Borger, Texas, to key markets in Arizona and California. The project will include the construction of a new pipeline segment extending from Borger, Texas, to Phoenix, Arizona, which will connect to Kinder Morgan’s existing SFPP, L.P. pipeline from Colton, California, to Phoenix. The SFPP line will be reversed to enable east-to-west product flows into California.

Supply for the Western Gateway Pipeline will originate from connections in Borger, Texas, as well as from existing supplies linked to SFPP’s system in El Paso, Texas. Additionally, the Gold Pipeline, operated by Phillips 66 and currently transporting products from Borger to St. Louis, will be reversed to allow refined products from Midcontinent refineries to flow toward Borger and into the Western Gateway system. This configuration will connect Midwest refinery supply to markets in Phoenix and California, with additional access to Las Vegas via Kinder Morgan’s CALNEV Pipeline.

For more information visit www.westerngatewaypipeline.com.

Commercial UAV Forum, Europe’s newest destination for industrial drone innovation, has announced a partnership with the Joint European Drone Associations as Event Partner for its inaugural edition, taking place 22–23 April 2026 at RAI Amsterdam.

As the leading umbrella organisation representing national drone associations across Europe, JEDA will support the event’s mission to strengthen the commercial drone sector and foster collaboration across the European UAS ecosystem. Through its insight and network, JEDA will help ensure the event reflects the needs and priorities of the industry, from innovation and safety to sustainable growth and market development.

Founded in 2021, JEDA represents 24 national associations from 22 European countries and serves as a unified voice for Europe’s drone industry. The organisation works closely with the European Commission, EASA (European Union Aviation Safety Agency), and other aviation authorities to foster harmonised regulation and facilitate safe integration of unmanned aircraft systems into European airspace.

Julie Garland, president of JEDA, stated that the organisation is proud to support Commercial UAV Forum as it brings together the diverse and growing community of professionals driving drone innovation across Europe. She characterised the Forum as offering a much-needed platform to connect industry, regulators, and end users, supporting progress and knowledge exchange across the European drone market with emphasis on industrial drone usage.

Lee Corkhill, group event director at Diversified, expressed honour at welcoming JEDA as event partner, stating that their participation underscores the event’s commitment to collaboration and industry advancement. He noted that with JEDA’s support, Commercial UAV Forum 2026 will provide valuable opportunities for learning, partnership, and discovery.

Taking place in Amsterdam, the Commercial UAV Forum will gather UAV professionals from across Europe for two days of education, networking, and technology discovery. The event will feature educational sessions and a dynamic exhibition showcasing innovations in UAS technology for construction, energy, utilities, public safety, transportation, surveying and mapping, port and maritime operations, and additional sectors.

The partnership between Commercial UAV Forum and JEDA addresses the European commercial drone sector’s need for platforms facilitating industry dialogue, regulatory engagement, and technology showcasing. As European drone regulations continue evolving through EASA’s framework and national implementation, forums enabling stakeholder interaction support industry development and regulatory harmonisation.

JEDA’s involvement brings credibility and industry connectivity to the inaugural event, with the organisation’s membership spanning national associations representing manufacturers, operators, service providers, and technology developers across European markets. This broad representation enables JEDA to provide insights into diverse market segments and regional priorities, informing event programming and stakeholder engagement.

The emphasis on industrial and commercial applications distinguishes Commercial UAV Forum from consumer-focused events, targeting professionals utilizing drones for business operations across sectors including infrastructure inspection, surveying, emergency services, logistics, and maritime operations. These applications represent substantial market growth opportunities as regulatory frameworks mature and technology capabilities advance.

Amsterdam’s selection as venue provides central European location with strong aviation heritage, well-developed infrastructure, and accessibility from major European cities. The Netherlands maintains an active drone industry with progressive regulatory approaches and technology clusters supporting UAS development and deployment.

The April 2026 timing positions the event after winter weather constraints affecting outdoor drone operations whilst preceding summer holiday periods, potentially optimising professional attendance. The two-day format balances comprehensive programming with manageable time commitments for attendees traveling internationally.

Educational sessions addressing technology, operations, regulations, and business models support professional development and knowledge transfer across the European UAS community. Exhibition components enable technology providers to demonstrate capabilities whilst facilitating buyer-seller connections supporting market development.

The partnership exemplifies collaboration between commercial event organisers and industry associations supporting sector development through knowledge sharing, networking, and stakeholder engagement platforms complementing regulatory processes and business activities driving European drone industry growth.

For more information visit www.forumuav.com

PETRONAS, through its subsidiary PETRONAS Carigali International Ventures Sdn Bhd (PCIV), has signed a Memorandum of Understanding with OQ Exploration and Production New Ventures LLC (OQEP), a wholly-owned subsidiary of OQ Exploration and Production SAOG. The agreement paves the way for both companies to jointly pursue oil and gas exploration and production opportunities across the Middle East and Southeast Asia.

The MoU establishes a framework for collaboration that combines PETRONAS’ international upstream expertise with OQEP’s strong regional knowledge. Together, the companies aim to unlock new growth opportunities and accelerate value creation in diverse markets.

The signing ceremony took place at OQEP’s headquarters in Muscat, Oman, and was officiated by Mohd Redhani Abdul Rahman, vice president of International Assets at PETRONAS Upstream, and Mahmoud Al Hashmi, acting chief executive officer and chief operations officer of OQEP.

Speaking at the event, Redhani stated, “This collaboration represents a meaningful step forward in our efforts to build a resilient and competitive upstream portfolio. By aligning our strengths with OQEP’s strategic direction, we are well-positioned to pursue impactful ventures in these regions.”

PETRONAS has maintained a presence in Oman since 2018 and currently holds participating interests in Block 61. The signing of this MoU reinforces the growing partnership between PETRONAS and OQEP, built on a foundation of mutual respect and shared industry ambitions.

For more information visit www.petronas.com

The US Department of Energy has issued the final non-free trade agreement export authorisation for Venture Global’s CP2 facility in Cameron Parish, Louisiana, enabling the project to export liquefied natural gas to countries without free trade agreements with the United States.

Venture Global chief executive officer Mike Sabel expressed gratitude for the Trump Administration’s final approval of CP2, characterising the project as critical for supplying American allies with low-cost LNG for decades whilst supporting thousands of jobs and benefiting US balance of trade. Sabel stated that CP2 project construction is well underway, with the company looking forward to advancing the project safely and quickly to bring new LNG to the global market beginning in 2027.

The non-FTA export authorisation represents a key regulatory milestone enabling Venture Global to enter long-term sales contracts with customers in major LNG-importing countries including China, Japan, South Korea, and European nations without US free trade agreements. Without this authorisation, the facility would be limited to exporting only to countries with existing US free trade agreements.

CP2 represents Venture Global’s second major LNG export project in Cameron Parish, following the company’s Calcasieu Pass facility. The Louisiana Gulf Coast location provides access to abundant natural gas supplies from US producing regions alongside deepwater port facilities accommodating large LNG carriers serving international markets.

Sabel’s reference to construction being well underway indicates Venture Global proceeded with development activities prior to receiving final export authorisation, demonstrating confidence in regulatory approval whilst accelerating project timelines. The stated 2027 target for commencing LNG deliveries positions CP2 to enter the market during anticipated continued growth in global LNG demand.

The authorisation process for non-FTA LNG exports requires Department of Energy review and determination that proposed exports serve public interest, considering economic impacts, international considerations, energy security, and environmental effects. The approval indicates DOE concluded CP2 exports meet public interest criteria.

The Trump Administration’s support for LNG export expansion reflects policy priorities emphasising American energy dominance, job creation, and trade balance improvements through increased energy exports. LNG facilities represent multi-billion dollar investments supporting construction employment, operational jobs, and natural gas purchases from domestic producers.

CP2’s capacity will add substantial volumes to US LNG export capability, supporting the country’s position as a leading global supplier alongside Qatar and Australia. The facility’s supply to American allies reflects geopolitical dimensions of LNG trade, particularly following European efforts to reduce dependence on Russian pipeline gas after Ukraine’s invasion.

The final export authorisation enables Venture Global to finalise commercial arrangements with international customers, complete project financing, and proceed with full-scale construction targeting 2027 operations. The regulatory milestone removes significant uncertainty affecting project economics and commercial negotiations.

For more information visit www.ventureglobalLNG.com

i6 Group has announced the opening of a new regional office in the United Arab Emirates, marking the next stage of its global expansion. Led by co-founder Steve Uhrmacher, the new base strengthens partnerships with Apsco, ENOC, and EPPCO International, while supporting wider adoption of digital fueling solutions across the Middle East.

Uhrmacher noted that regional customers are leading some of the world’s most innovative fuel management initiatives. Establishing a local presence allows i6 to deepen relationships, enhance operational support, and respond faster to partner needs.

The milestone follows a year of strong growth and industry recognition, including i6’s nomination for Innovation Project of the Year at the Aviation Business Middle East Awards 2025. With offices in the UK, US, Canada, and now the UAE, i6 continues to advance its mission of digitising global fueling operations, driving efficiency, safety, and sustainability across the aviation sector.

The UAE’s position as a global aviation hub makes it an ideal base for i6’s regional operations, offering proximity to major international airports and an expanding aviation market that increasingly values digital transformation. The new office underscores i6 Group’s long-term commitment to the Middle East and its role in enabling smarter, more sustainable fuel management worldwide.

For more information visit www.i6.io

Sweco has secured a new framework agreement with Rijkswaterstaat, the Dutch government agency responsible for the modernisation and development of infrastructure and water management. Sweco will provide engineering services for major renewal projects over the next four to six years, to support major upgrades of primary infrastructure in the Netherlands with the aim of ensuring safety, resilience and mobility.

The Rijkswaterstaat runs infrastructure renewal and reinforcement projects to ensure the country can cope with increasing challenges such as rising sea levels, flooding and climate adaptation. It’s responsible for managing main infrastructure such as roads, waterways and flood protection. Given that much of the Netherlands lies below sea level, the country is especially vulnerable to rising sea levels.

Photographer: Tobias Regell :Eugene Grüter President Sweco Netherlands

Sweco is part of a consortium that has entered a new framework agreement for engineering services, and project and process management with Rijkswaterstaat, which is a long-term client.

“Rijkswaterstaat’s ambitious renewal projects directly address climate challenges and the modernisation of primary infrastructure in the Netherlands. Sweco is proud to provide engineering, design and sustainability expertise to enhance these projects’ effectiveness. We have a long-standing relationship with Rijkswaterstaat and, together, we will continue to develop resilient, future-proof infrastructure that enhances mobility and quality of life in the Netherlands,” says Eugene Grüter, business area president, Sweco in the Netherlands.

Under the new agreement, Sweco will provide expertise in a range of areas including hydraulic and structural engineering, geotechnics, hydrology, traffic planning, environmental assessments and real estate advisory. While the order value for Sweco is yet to be determined, the overall maximum value of the framework agreement is approximately EUR 1.7 billion.

For more infomation visit www.swecogroup.com

Creaform, a business of AMETEK, Inc. and worldwide provider of automated and portable 3D measurement solutions, announced the launch of the HandySCAN 3D|EVO Series™, the most powerful handheld 3D laser scanning solution on the market. This innovative series features a built-in touchscreen display and an integrated photo camera, incorporating augmented reality (AR) and advanced on-scanner visualisation to significantly enhance the user experience.

Creaform developed portable 3D scanning over 20 years ago with the original HandySCAN 3D, setting a benchmark in dimensional metrology. Trusted to solve the most complex dimensional measurement challenges by several thousands of demanding customers across industries such as automotive, manufacturing, metalworking, and heavy equipment, for product development and quality control applications, the HandySCAN 3D brand has always been synonym of metrology-grade accuracy, intuitive operation, versatility, and fastest time to CAD or inspection reports.

Creaform continues its legacy with this next evolution in the HandySCAN 3D lineup. Showcasing all of Creaform’s flagship scanner qualities, such as proven reliability, portability, and unmatched accredited accuracy, the EVO Series introduces an array of innovative features designed to enhance user experience and efficiency, like wireless capabilities through the Mobility Kit, embedded GUI, and built-in display for direct validation and real-time operator guidance. Like all Creaform scanners, this series is made in Canada, is supported by Creaform Metrology Suite and comes with proficient, multilingual customer support to meet the needs of professionals worldwide.

The HandySCAN EVO|Elite™ delivers a host of cutting-edge features, each designed to provide tangible benefits, enhancing precision, efficiency, and ease of use for professionals in demanding 3D scanning applications:

• Real-time visualisation, quick access to parameters, and processing options directly on the scanner’s 4.3-inch touch screen display, eliminating the back and forth to the computer.
• Augmented reality capabilities and straightforward documentation of the inspection process through photography, enabled by the addition of a high-resolution 12 MP camera.
• Easy onboarding and essential tools at your fingertips, including 3D manipulation (mesh) and advanced scanning features such as high-resolution mode and clipping options, supported by the scanner’s integrated and user-friendly GUI.
• Streamlined repetitive inspections and enhanced quality control processes enabled by the new auto-alignment feature.
• An accuracy of 0.020 mm and a volumetric accuracy of 0.020 mm + 0.015 mm/m powered by 46 blue laser lines (+1 extra line).
• The most accurate 3D measurements wherever you need them through the use of a 350 mm scale bar.

“As we unveil this innovative lineup, we’re not just introducing a product; we’re transforming how professionals across industries approach 3D measurement precision and efficiency,” said Fanny Truchon, President of Creaform. “A technology that keeps evolving over time, it again demonstrates that Creaform has been reinventing the future of industrial metrology since 2005.”

For more information visit www.creaform3d.com

Halo Capital has partnered with global engineering consultancy Penspen to accelerate the development of two of Australia’s most significant energy redevelopment projects – Hussar and Mt Winter – unlocking vast helium and hydrogen reserves critical to global supply chains and the transition to cleaner energy.

Penspen has signed a memorandum of understanding for engineering and project management expertise across the full development cycle, from feasibility studies to commissioning, ensuring the projects meet the highest technical and regulatory standards. In August 2025, Australian exploration company Georgina Energy Plc granted London-based Halo Capital a 12-month nonexclusive option to acquire the rights to 100 percent of helium, hydrogen and natural gas produced from its two large-scale gas redevelopments. Together, with the expertise of Penspen, the companies aim to position Australia as a leading supplier of helium, hydrogen and hydrocarbons for Asia Pacific and beyond.

Hussar, located in Western Australia’s Officer Basin, and Mt Winter in the Amadeus Basin, Northern Territory, are recognised as prospects of significant national importance. With proven reserves and fresh drilling applications underway, both sites have the potential to deliver significant volumes of helium and hydrogen – gases central to medical technology, industrial processes and the decarbonisation of global energy systems.

Development of Critical Infrastructure

Upon securing funding, Halo Capital will be responsible for the delivery of processing facilities, including separation units for helium, hydrogen and cryogenic purification systems. Once operational, they will be solely responsible for storage, transport, export, trucking helium to Darwin, and converting ammonia to hydrogen. The agreement will enable Westmarket Oil & Gas, Georgina Energy’s wholly owned Australian subsidiary, to sell gas at the wellhead in its raw state, subject to a formal contract on commercial terms.

Under the MOU, Penspen would provide a wide scope of engineering services, including concept/feasibility, FEED, detailed design and procurement support covering the full chain from wellhead to export. They would also provide project management support including scope/basis definition, tendering and bid evaluation, CAPEX estimating, contract preparation, project controls, and site/commissioning supervision.

Penspen is an international consultancy with over 70 years’ of energy engineering heritage. The company has significant experience in the delivery of complex oil and gas infrastructure, and has developed a reputation as partner of choice for low carbon projects, with hydrogen, green ammonia, and CO2 programmes delivered across the United Kingdom, Ireland, Portugal, Turkey, Latvia, Colombia, and the United Arab Emirates.

Nick Clarke, CEO, Halo Capital commented: “Halo Capital are very pleased to have Penspen join our efforts to develop the Hussar and Mt. Winter projects, bringing with them their deep technical expertise and project management experience. Partnering with Penspen will ensure that our project teams will be able to meet all technical and regulatory requirements to drive these and our future projects forward.”

Peter O’Sullivan, CEO at Penspen, said: “We are delighted to work with Halo Capital as engineering partner on this transformative development in Australia.  

“Our unwavering aim is to improve access to secure and sustainable energy, and Hussar and Mt Winter offer tremendous potential to address the growing gap between supply and demand for helium, as well as further develop hydrogen’s critical role in decarbonising global industrial sectors.  

“Penspen’s extensive experience in the delivery of low carbon infrastructure systems, from feasibility and conceptual studies to detailed design and ongoing operations and maintenance, means we are well placed to support Halo Capital in the development of this project of national importance.” 

For more information visit www.penspen.com  

Kemiwatt, a pioneering French company developing sustainable organic flow batteries for stationary energy storage, has successfully completed a capital increase exceeding €5 million. The funding round welcomes two new strategic investors: Stolt Ventures, the corporate venture capital fund of Stolt-Nielsen—a global leader in liquid logistics—and Impact Océan Capital (IOC), an investment fund dedicated to maritime innovation and sustainability in Europe managed by GO Capital.

Historical investors, including Pierre-Yves Divet and Cadeis, have also chosen to reinvest, demonstrating continued confidence in Kemiwatt’s vision and growth trajectory. The funding round remains open, providing opportunities for additional investors to participate in the company’s momentum and contribute to its next phase of development.

Founded in Brittany, Kemiwatt designs and manufactures next-generation organic flow batteries that use safe, abundant, and recyclable electrolytes. The company’s technology delivers long-duration, large-scale energy storage solutions to support renewable integration and industrial applications.

The investment from Stolt Ventures marks a significant milestone for Kemiwatt, as Stolt-Nielsen operates one of the world’s largest fleets of chemical tankers and bulk liquid terminals. Impact Océan Capital’s participation further strengthens the initiative by combining financial backing with a mission to accelerate innovation and decarbonisation within the maritime and port ecosystem. Through IOC’s extensive network of maritime stakeholders, Kemiwatt will gain valuable access to strategic industry partnerships.

The newly secured funding will enable Kemiwatt to scale its commercial operations and expand internationally within the stationary storage market, particularly targeting tank storage operators. By leveraging existing port and terminal infrastructure, the company aims to provide cost-competitive, sustainable energy storage solutions that support the decarbonisation of logistics and industrial value chains.

“We are delighted to welcome Stolt Ventures and Impact Océan Capital as strategic partners. Their industrial expertise and financial support will be instrumental in accelerating Kemiwatt’s commercial rollout and positioning our organic flow batteries as a key solution for long-duration storage in Europe and beyond,” said Guillaume Chazalet, CEO of Kemiwatt.

With this latest financing, Kemiwatt strengthens its ambition to become a European leader in sustainable, large-scale energy storage—helping industries and regions achieve their climate objectives and enhance energy security.

For more information visit www.kemiwatt.com

Casale’s Global Commercial Head, Paolo Bonucci, recently led a delegation to visit Wison Engineering as part of an ongoing effort to strengthen cooperation in sustainable chemical and energy technologies. The Casale delegation included Fabio Laurenzi, Regional Sales Manager for the Asia-Pacific region, and Gong Tianbai, general manager of Casale China (Shanghai). They were welcomed by Liu Hengwei, chief technology officer of Wison Engineering, who led the host team.

During the visit, both parties held in-depth discussions focused on advanced technologies, engineering solutions, and market collaboration in green ammonia, green methanol, synthetic ammonia, and urea. The high-level technical seminar sought to combine the strengths of both companies to drive innovation and application in green energy and chemical technologies within China and global markets.

Casale’s technical experts delivered detailed presentations highlighting the company’s cutting-edge process design capabilities for large-scale green ammonia and methanol projects. They also shared successful case studies and introduced core equipment such as high-efficiency synthesis towers and carbon reduction upgrades for existing plants. Wison Engineering, in turn, demonstrated its expertise in clean and renewable energy sectors, showcasing its extensive experience in engineering design and EPC (Engineering, Procurement, and Construction) execution, as well as its deep understanding of international market trends.

Both companies underlined their intention to collaborate by integrating Casale’s advanced process technologies with Wison Engineering’s professional engineering, procurement, and project execution capabilities. The partnership aims to deliver more competitive and reliable systematic solutions to customers worldwide.

Liu Hengwei commented, “We are delighted to welcome Casale’s visit. Casale’s century-long expertise in ammonia and methanol synthesis technology is highly commendable, and its focus on green technologies aligns closely with Wison Engineering’s strategic commitment to delivering engineering solutions for the clean and new energy sectors. We look forward to working together to provide more efficient and cost-effective green projects for clients both in China and globally through complementary strengths.”

Paolo Bonucci added, “Wison Engineering is a leading enterprise in China’s energy and chemical engineering sector, demonstrating exceptional project execution capabilities and significant market influence. Our discussions were highly productive, revealing substantial mutual potential for collaboration. By integrating Casale’s advanced technology with Wison Engineering’s engineering expertise, we will be better positioned to meet the growing market demand for green technologies and jointly promote the sustainable development of the industry.”

The high-level meeting between Casale and Wison Engineering marks a strategic step forward in their collaboration, extending their partnership into the green energy sector. Built on mutual trust and shared objectives, both parties are committed to advancing together in the new energy era through practical cooperation in technology licensing, engineering integration, and market development. Together, Casale and Wison Engineering aim to contribute meaningfully to the global transition towards a greener, low-carbon future in the energy and chemical industries.

For more information visit www.wison-engineering.com

Petrobras, following up on the announcement made on 23 July 2025, has signed the Expenses and Volumes Equalisation Agreement with PPSA (Pré-Sal Petróleo S.A.), resulting from the Production Individualisation Agreement for the Jubarte Pre-Salt Shared Reservoir.

The amount owed by Petrobras to PPSA totals R$1.54 billion, payable in a single instalment by the end of October. Of this total, R$1.47 billion had already been provisioned in the financial statements for the second quarter of 2025, as disclosed in explanatory note 17.4 regarding Production Individualisation Agreements.

FPSO Maria Quitéria operates in the Jubarte field, pre-salt in the Espírito Santo portion of the Campos Basin

The negotiation process for equalisation between Petrobras (Jubarte Field) and the partners in the Argonauta Field—Shell Brasil Petróleo Ltda., Enauta Petróleo e Gás Ltda. (Brava), and ONGC Campos Ltda.—is ongoing and will be disclosed to the market upon conclusion.

As disclosed on 23 July 2025, approval of the Production Individualisation Agreement for the Jubarte Pre-Salt by Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels resulted in the definition of proportional shares of each company in the shared reservoir: Petrobras 97.250 percent, Shell 0.430 percent, Brava 0.198 percent, ONGC 0.232 percent, and the Brazilian Union represented by PPSA 1.890 percent.

This new configuration requires negotiation of the Expenses and Volumes Equalisation Agreement to reconcile revenues derived from oil and natural gas production, incurred investment expenses, operating expenses, royalties, and special participation payments in proportion to the parties’ shares in the shared reservoir, in accordance with CNPE Resolution No. 8/2016 and ANP Resolution No. 867/2022. The period considered spans from signing of the BC-60 Concession Agreement (Jubarte) on 6 August 1998 to 31 July 2025, the day prior to the effective date of the Jubarte Pre-Salt Production Individualization Agreement.

Shared reservoirs occur where hydrocarbon accumulations extend across boundaries between different concession blocks or licensing areas, creating situations where multiple parties hold rights to portions of a single geological reservoir. Brazil’s regulatory framework establishes procedures for individualising production from shared reservoirs, determining each party’s proportional entitlement based on reservoir characteristics and ensuring equitable allocation of production, costs, and revenues.

The Production Individualisation Agreement defines the technical and commercial framework for allocating production and expenses among parties with interests in the shared Jubarte Pre-Salt reservoir. The resulting ownership shares reflect subsurface geological analysis determining the proportion of the reservoir underlying each party’s concession area.

Petrobras’s dominant 97.250% share indicates that the vast majority of the Jubarte Pre-Salt reservoir lies within the BC-60 concession area where Petrobras operates the Jubarte Field. The minor shares held by Shell, Brava, and ONGC reflect small portions of the reservoir extending into the adjacent Argonauta Field concession. The Brazilian Union’s 1.890% share represents the government’s direct interest through PPSA, established under the production sharing regime governing Brazil’s pre-salt petroleum resources.

The Expenses and Volumes Equalisation Agreement addresses the retrospective reconciliation of production, revenues, costs, and government payments over the 27-year period from the original BC-60 concession signing in 1998 through July 2025. During this extended period, production from the shared reservoir occurred under the operational control of different field operators without formal allocation reflecting the subsequently determined ownership shares.

The R$1.54 billion payment from Petrobras to PPSA represents the net financial settlement arising from this retrospective reconciliation. The payment indicates that PPSA’s proportional entitlement to revenues from production, less its share of costs and government payments, exceeds amounts previously allocated during the period before the Production Individualisation Agreement’s effective date.

Petrobras’s advance provisioning of R$1.47 billion in second-quarter 2025 financial statements demonstrates proactive financial management, recognising the anticipated liability before formal agreement signature. The provisioning minimised financial statement impact at settlement, with only R$70 million representing adjustment to the provisioned amount.

The ongoing negotiations with Argonauta Field partners address similar equalisation requirements among parties affected by the shared reservoir determination. These negotiations will establish financial settlements reflecting the retrospective reallocation of production, costs, and revenues among Petrobras and the Argonauta partners based on their respective ownership shares.

The regulatory framework governing shared reservoir individualisation in Brazil reflects international petroleum industry practices addressing unitisation—the joint development of reservoirs crossing concession boundaries. Unitisation agreements establish operational control, cost allocation, production allocation, and commercial arrangements enabling efficient reservoir development whilst protecting each party’s economic interests.

Brazil’s pre-salt petroleum resources, located in ultra-deepwater offshore areas beneath thick salt layers, represent world-class hydrocarbon accumulations discovered over the past two decades. The Jubarte Field, originally developed targeting post-salt reservoirs, subsequently identified pre-salt accumulations that proved to extend across concession boundaries, triggering the individualisation process.

The Production Individualization Agreement and associated equalization arrangements establish clear ownership and operational frameworks enabling continued efficient development of the Jubarte Pre-Salt reservoir whilst ensuring equitable treatment of all parties with interests in the shared resource. Resolution of these complex technical and commercial matters supports ongoing investment in Brazil’s strategic pre-salt petroleum province.

For more information visit www.nossaenergia.petrobras.com.br