Sunday, 27 September 2026

Goldman Sachs expects European LNG prices to average EUR 70/MWh in the fourth quarter, raising its earlier forecast of EUR 53/MWh.

The bank attributed the revision to the need for demand destruction caused by the recent rally to continue.

Persian Gulf LNG exports remain at around 15% to 25% of pre-war levels, according to Goldman Sachs.

The bank said European gas prices may need to rise further if LNG flows through the Strait of Hormuz do not improve.

Los Angeles County's average price for self-serve regular gasoline reached USD 6.387 per gallon, its highest level since Oct. 10, 2022, according to Event Registry.

The average remained 10.6 cents below the record on Saturday after rising for 39 consecutive days and gaining 74.5 cents, Event Registry reported.

The record average is USD 6.493 per gallon, set on Oct. 5, 2022, according to Event Registry.

GCR Ratings upgraded Dangote Industries’ long-term and short-term issuer ratings by four notches to AAA(NG) and A1+(NG), respectively, according to Event Registry.

Dangote Group said both ratings carry a Stable Outlook.

GCR also upgraded three bond instruments issued by Dangote Industries Funding to AAA(NG), Event Registry reported.

Brent oil fell 2.8% to USD 97.44 per barrel, according to Event Registry.

The decline eased pressure on Wall Street, helping U.S. stocks record their first winning week in the last three.

The S&P 500 and Nasdaq composite each gained 0.5%, while the Dow Jones Industrial Average rose 478 points, or 0.9%, Event Registry reported.

Electricity and energy minister Kgosientsho Ramokgopa said the government had decided to give Eskom chair Mteto Nyati another three-year term, according to Event Registry.

The South African government is pursuing an independent transmission system operator that will ultimately own and control transmission assets and operate the electricity market, Event Registry reported.

Eskom's board has also been tasked with reducing electricity costs for households and businesses, according to Event Registry.

The measures include cutting system losses and revenue leakage, securing better value from procurement and maintenance, and improving project delivery, Event Registry reported.

ExxonMobil and Azerbaijan's state oil company SOCAR formed a joint venture to explore and develop unconventional hydrocarbon resources in the Middle Kura basin, according to World Oil.

ExxonMobil will operate the shale project, subject to approval by Azerbaijan's legislature, World Oil reported.

ExxonMobil senior vice president Bart Cahir said the venture would combine SOCAR's knowledge of Azerbaijan with ExxonMobil's experience and technology to assess the basin and pursue development opportunities.

Finnfund and Proparco committed a combined USD 33 million to Colombian solar energy platform ERCO, according to Event Registry.

Event Registry reported that a European Union guarantee supports the investment. The financing will support ERCO's expansion of solar generation capacity in Colombia.

The funds will finance the construction and expansion of solar energy assets in partnership with European clean technology companies and technology providers, according to Event Registry.

Bloomberg reported that Saudi Aramco hired Evercore to advise on restructuring its gas operations into a standalone division that could eventually be listed.

The restructuring could attract investment or lead to an IPO or minority listing valuing the business at more than USD 100 billion, according to Bloomberg.

Reuters previously reported that Saudi Aramco planned to create a gas division focused on developing domestic natural gas resources and building an LNG portfolio abroad.

Event Registry reported that hopes for a US-Iran truce and discussion of a possible US diesel export ban pushed oil prices down about 2% on Friday.

Houthi attacks on Saudi Arabia kept supply disruption concerns in focus, according to Event Registry.

Brent futures fell USD 2.28, or 2.1%, Event Registry reported.

West Texas Intermediate crude dropped USD 2.20, or 2.3%, according to Event Registry.

Ahmedabad-based solar engineering, procurement and construction company Deon Energy has filed draft papers with SEBI for an initial public offering, according to Event Registry.

The proposed offering comprises a fresh issue of up to 72 lakh equity shares and an offer for sale of up to 20 lakh shares by promoters, Event Registry reported.

Deon Energy plans to allocate Rs 95.80 crore from the fresh-issue proceeds to build a 30 MW DC power plant across six sites in Gujarat's Junagadh, Surendranagar and Kachchh districts, according to Event Registry.

The company proposes to list its equity shares on the BSE and the National Stock Exchange of India, Event Registry reported.

India and France discussed deploying European Pressurised Reactor technology in India, localising the nuclear supply chain and cooperating on pumped hydro storage projects, according to the Ministry of Power.

EDF said it was working to build an ecosystem and supply chain in India for large-scale localisation.

India's draft nuclear rules provide for streamlined, time-bound licensing and would allow private and foreign partners to participate in the country's nuclear power programme, the Ministry of Power said.

Event Registry reported that SAIL and BCCL signed an MoU to jointly develop and operate two coal blocks in West Bengal.

The agreement covers SAIL's Indikatta Ramnagore block and BCCL's East of Damagoria (Kalyaneshwari) block, according to Event Registry.

Event Registry reported that the blocks have a combined peak rated capacity of 4 million tonnes per year, while Phase I is estimated to contain around 79 million tonnes of extractable reserves.

The integrated plan calls for mining at Kalyaneshwari and overburden dumping at Ramnagore in Phase I, with the arrangement reversed in Phase II, Event Registry reported.

Indian equity benchmarks recorded a seventh consecutive weekly loss as crude prices remained elevated and US bond yields surged, Event Registry reported.

The Nifty declined 0.88% during the week, while the Sensex lost 0.54%, according to Event Registry.

The Nifty 50's seven-week losing streak was its longest in six years.

Brent crude stayed above USD 105 per barrel for most of the week, while WTI remained above USD 90 per barrel amid geopolitical uncertainty and concerns about global oil supplies, Event Registry reported.

NTPC Limited and EDF Power Solutions India signed a 50:50 joint venture agreement on September 25 to develop low-carbon energy projects, Event Registry reported.

The venture will pursue projects in India and neighbouring countries, according to Event Registry.

Its remit covers developing, owning and operating pumped storage, hydropower and other renewable energy projects, as well as electricity distribution businesses.

The companies aim to establish an industrial entity focused on low-carbon power plants, flexibility solutions and transmission assets, Event Registry reported.

The partnership supports India's target of reaching 100 GW of installed pumped storage capacity by 2036, according to Event Registry.

Event Registry reported that the United Kingdom warned Iran it would not tolerate intimidation, threats or hostile activities linked to Tehran on British soil.

British Foreign Secretary Ed Miliband delivered the warning to Iranian Foreign Minister Abbas Araqchi during a meeting at the United Nations General Assembly in New York.

Britain's Foreign Office said Miliband reiterated the UK's resolve to combat threats from Iranian-linked groups on UK soil.

Waaree Clean Energy Solutions, a wholly owned subsidiary of Waaree Energies, announced its entry into India’s speciality gases business on September 24, according to Event Registry.

The company is setting up a speciality gases plant at GIDC Saykha in Dahej, Gujarat, Event Registry reported.

The Dahej plant is planned to supply semiconductor and solar manufacturers with high-purity ammonia, silane and other chemicals that are currently imported, according to Event Registry.

Waaree Clean Energy Solutions said the Gujarat facility is intended to build domestic supply and reduce India’s reliance on imported gases, Event Registry reported.