Chemical news · Three minutes a day
Saturday, October 24, 2026
Lead Story
Pentagon’s Venezuelan Oil Partner Nabep Adds Rig, Boosts OutputNorth American Blue Energy Partners Inc., a Pentagon partner, is deploying a sixth drilling rig to boost Venezuelan oil production to over 223,000 barrels per day following a $1 billion reinvestment.
The US Department of Agriculture will provide $34.1 million to support Philippine purple yam (ube) production, funded by soybean meal sales, aiming to assist 12,500 farmers over five years amidst rising global demand.
Residents of Novo Progresso support Flávio Bolsonaro over Lula due to differing environmental policies impacting cattle ranching and soy exports. The election result may reshape land-use regulations and deforestation rates in Brazil's key agricultural frontier.
A Malta-flagged tanker carrying 40,000 metric tons of Russian diesel is en route to New York following a Putin-Trump agreement that lifts Russia's export ban to lower fuel prices.
Smith & Nephew and Johnson & Johnson abandoned merger talks for the latter's orthopaedics division due to disagreements over the CEO position. The proposed $22 billion deal collapsed after Smith & Nephew insisted its current boss remain in charge.
BASF CEO Markus Kamieth confirmed readiness to discuss a merger with Evonik Industries, emphasizing value creation without compromising shareholder interests. The proposed combination aims to strengthen German chemical competitiveness against global rivals while preserving jobs and optimizing supply chains.
CATL and BAIC plan a battery-swapping network targeting 1 million vehicles to diversify revenue amid cooling domestic car sales. The partnership expands infrastructure cooperation across multiple brands in China's competitive EV market.
European stocks fell as Kering slumped and oil prices rose amid French political uncertainty, while cement maker Holcim raised its earnings forecast.
Westlife Foodworld reported a narrower quarterly loss driven by customer promotions, despite a 37% surge in material costs linked to global energy and raw material price increases.
UK energy operators confirm sufficient gas and electricity supplies for winter despite soaring prices driven by Middle East conflict. National Gas and NESO report adequate capacity margins, though some tight days may require balancing tools.
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