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Saturday, October 17, 2026
Lead Story
Naftogaz Chief Says Ukraine's Gas Reserves Hit Six-Year High Ahead of WinterNaftogaz CEO Sergii Fedorenko announced Ukraine's natural gas reserves reached 16 billion cubic metres, a six-year high, despite intensified Russian attacks on energy infrastructure. Consumption is projected to drop to 20 bcm in 2026 as industrial shutdowns reduce demand.
French pasta maker Panzani and Portuguese Cerealis are in exclusive talks to merge into a €1.8 billion European food group, aiming to consolidate operations amid rising costs and strengthen bargaining power with retailers.
Drone strikes hit a Russian industrial facility in the Surgut district housing oil and gas assets, causing a fire and prompting damage assessments. The attack targets infrastructure owned by major players like Gazprom and Transneft amidst escalating energy sector confrontations.
The EMA recommended approval of Eli Lilly's oral weight-loss drug Foundayo, becoming the second such authorization after Novo Nordisk. Final EC approval is pending before launch in a market projected to exceed $100 billion by 2030.
The Nigeria Exchange CEO anticipates increased listings following the record-breaking $50 billion Dangote Petroleum Refinery IPO. Economic reforms and refinery success are stabilizing the market, attracting interest from energy and tech firms.
Shell has agreed to sell its French mobility business, comprising 70 sites and eight LNG installations, to DCC Energy, with completion expected in Q2 2027. The transaction value remains undisclosed as the oil major evaluates its retail forecourts portfolio.
The Trump administration is advancing a policy permitting specialty pharmacies to compound specific unregulated peptide drugs, bypassing traditional FDA vetting. This regulatory shift targets a potential $2-3 billion market despite FDA safety concerns regarding contamination and efficacy.
World Bank President Ajay Banga announced a plan to quintuple critical minerals financing to $19 billion over fiscal 2026-2030. The initiative targets partnerships with 20 countries while adopting a precautionary stance on deep-sea mining.
WSJ reports US-Mexico tariff negotiations stalled over disagreements on steel, aluminum, and auto levies. Commerce Secretary Lutnick opposes tariff reductions on these metals despite reported progress from Mexican officials.
The U.S. Department of Energy has issued a request for proposals to exchange up to 17 million barrels of crude oil from its Strategic Petroleum Reserve. This move aims to stabilize fuel prices amid geopolitical tensions, following a broader international agreement involving multiple nations.
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