Chemical news · Three minutes a day
Thursday, October 22, 2026
Lead Story
Sonangol Open to Bigger BCP Stake If China’s Fosun ExitsAngola's state oil firm Sonangol may increase its stake in Portuguese lender BCP if Fosun exits, while prioritizing expanded oil and gas production and refining capacity. The company also aims to diversify its energy mix through solar projects and pursue an IPO.
Thyssenkrupp confirmed the October 28 spin-off of its largest division, tk accelis, via a stock market listing. Shareholders will receive one new share for every twenty held, aiming to simplify the corporate structure and improve earnings margins.
Dangote Group has acquired a 25% stake in Kenya Pipeline Company to facilitate petroleum product transportation. This move aligns with the company's broader expansion, including a new 700,000-barrel-per-day refinery project in Lamu.
NextEra Energy exceeded third-quarter profit expectations driven by renewable energy growth and surging power demand from AI data centers. Florida Power & Light reported net income of $1.62 billion, while its resources unit added 3.7 gigawatts to its renewable backlog.
General Motors led a $108 million Series B funding round for sodium-ion battery startup Peak Energy to expand US manufacturing. The investment targets grid-scale storage using abundant domestic materials, offering cost and safety advantages over lithium-ion.
Dangote Industries acquired a 25% stake in Kenya Pipeline Co. for $327 million to expand its petroleum distribution network. This investment supports Dangote's $16 billion Lamu refinery project aimed at reducing regional reliance on Middle Eastern oil supplies.
AkzoNobel narrowed its Q3 net loss by 8.2% despite wider operating losses driven by Russian deconsolidation and divestments. The company confirmed its merger with Axalta is on track to form Axanzo in early 2027.
The UK approved the Jackdaw North Sea gas field, boosting domestic production by 6% to enhance energy security. Run by Shell and Equinor, the project begins supply soon alongside a new £2 billion Energy Wealth Fund.
Major beauty firms like Galderma and L'Oreal are developing treatments for facial volume loss linked to obesity drugs like Ozempic, with the market projected to reach $2 billion within five years.
Spain's CNMC launched proceedings against Exolum for allegedly abusing its dominant position by restricting access to its liquid hydrocarbon pipeline network and imposing excessive fees. The probe investigates potential harm to downstream competition and consumer prices.
ChemBrief