Chemical industry news · Three minutes a day
Tuesday, November 3, 2026
Lead Story
South Africa's Aspen Pharmacare to Sell Women's Health Product in Europe to EnnogenSouth Africa's Aspen Pharmacare sold European commercialization rights for its women's health product Ovestin to Ennogen Healthcare International for €197 million. Under the deal, Aspen will maintain long-term supply of the active ingredient and formulation for at least 10 years.
Mitsubishi Corp plans to sell a 49.9% stake in its LNG Canada holding company to Blackstone for $1.6 billion. The deal supports the project's Phase 2 expansion while preserving current offtake volumes.
ADNOC and G42 signed a deal with OpenAI to integrate AI as CEO Sam Altman attended the ADIPEC oil show in Abu Dhabi. Geopolitical tensions over potential US strikes on Iran caused some US oil firms to skip the event.
BP finalized the sale of a 65% stake in Castrol to Stonepeak Partners for $6 billion, utilizing proceeds to reduce net debt as part of its strategic simplification under new CEO Meg O'Neill.
Stonepeak completed its acquisition of a 65% stake in lubricants maker Castrol from BP, appointing former Shell CEO Ben van Beurden as board chair. BP will retain a 35% stake and use $6 billion in proceeds to reduce net debt ahead of schedule.
Blackstone led a $3.1 billion acquisition of a 49.9% stake in LNG Canada’s liquefaction business from Mitsubishi. The investment funds capacity expansion plans amid shifting global energy dynamics and relaxed Canadian environmental policies.
OpenAI CEO Sam Altman signed agreements with Abu Dhabi National Oil Co. and UAE investors to deploy AI for energy forecasting and investment analysis, amidst security concerns causing major oil majors to skip the regional Adipec conference.
Copper prices rose 0.5% to $14,229.50/ton on the LME amid easing tech rout and oil-driven growth fears. Analysts highlight structural supply constraints, notably record-low Chilean output, keeping price risks skewed upward.
TotalEnergies is increasing its US renewable energy investment as competitors exit due to upcoming tax credit phase-outs. CEO Patrick Pouyanne views the market shift as an opportunity to acquire projects and accelerate construction before policy deadlines expire in 2027.
India’s government assured liquor companies it will honor the India-UK trade pact on Scotch tariffs, easing concerns for major players like Pernod and Diageo. Bulk imports remain eligible for reduced rates under the deal despite recent investigations.
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