Chemical news · Three minutes a day
Saturday, October 10, 2026
Lead Story
Carlyle drops out of race for Lukoil international assetsCarlyle Group announced it is withdrawing from the bid for Russia's Lukoil international assets, ending negotiations with partners like Mubadala. The $22 billion portfolio, sanctioned due to the Ukraine war, remains open to other bidders.
The Trump administration revised USDA's Rural Energy for America Program, mandating project completion prior to funding applications. This restricts farmer access to billions in grants for renewable energy infrastructure like solar and biodigesters.
Aditya Birla Renewables aims to secure $1.5 billion in rupee loans to fund the $1.8 billion acquisition of Shell's Indian renewable energy arm Solenergi, avoiding costlier bridge debt.
Indian stock indexes are poised for a rebound despite a sharp selloff driven by high crude oil prices and IT sector concerns. Specific industry updates include JSW Steel production growth and regulatory developments for Dr Reddy's and Lupin.
Venezuela aims to sign 105 oil contracts by year-end, targeting 1.5 million barrels per day production by 2027. PDVSA head Hector Obregon announced the plan amidst refinery restarts and US-backed investment reopening.
Colombian billionaire Jaime Gilinski acquired a controlling stake in GeoPark Ltd. by exchanging rights to Venezuela's Bare oil field in a deal valued at approximately $500 million. The transaction leverages eased US sanctions to boost crude production capacity.
Brazilian presidential candidates Flávio Bolsonaro and Lula propose contrasting policies on Amazon deforestation, mining, and energy. Their platforms differ on oil, biofuels, and environmental protections, potentially reshaping Brazil's commodity and regulatory landscape.
Azerbaijan signed 23 investment deals totaling $10.8 billion. Key highlights include major oil and gas projects with SOCAR, TotalEnergies, and ExxonMobil aimed at boosting natural gas production by 5 billion cubic meters.
DCC Energy agreed to sell its technology division Nexora to One Equity Partners for $725 million, preceding its planned acquisition by a KKR-led consortium. The transaction completion is expected after March 2027.
Australia plans to legislate a Domestic Gas Reservation Scheme requiring LNG producers to reserve up to 20% of output for local buyers amid projected domestic shortfalls. The policy impacts major projects involving Shell and Santos, drawing opposition from producers concerned about investment and export reliability.
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