Daily Morning Brief

Coinbase co-founder Fred Ehrsam's startup Primavera targets producing 100,000 barrels of crude daily in Venezuela after signing contracts with state-owned Petroleos de Venezuela SA. The venture aims to revitalize oil reserves using experienced executives amid easing sanctions.

Tanzania nears finalizing a $42 billion LNG deal led by Equinor and Shell to unlock gas reserves for industrialization. The project aims to establish East Africa as an energy hub while attracting critical mineral investments.

Monument Chemical announced an agreement with Minasolve to expand global supply of bio-based solvents THFA and 2-MeTHF, replacing Minasolve's US production to better serve pharmaceutical and agrochemical customers.

Industry participants at the EPCA conference expect ample supply and weak demand for European ethylene and propylene in 2027, pressuring prices despite planned asset closures. Geopolitical uncertainty and high costs continue to limit operating rates and market recovery.

Equinor and Eneco have signed a five-year agreement to deliver approximately 9 terawatt hours of natural gas annually starting October 1, including verified environmental attributes with a lower greenhouse gas footprint than the Dutch grid average.