Monday, 28 September 2026

The national average diesel price reached a record USD 6.53 per gallon on Sept. 22, according to AAA.

Producer-level diesel prices jumped 24.1% in August, according to the Bureau of Labor Statistics.

Food economist David Ortega told Fortune that diesel costs reach grocery stores as contracts are repriced and fuel surcharges take effect.

Seoul reported plans to invest roughly USD 22.3 billion in a gas-fired combined-cycle power project in Encinal, Texas, according to Event Registry.

The planned facility would have 6.3 GW of capacity and is intended to meet electricity demand from semiconductor manufacturing and data centers.

Korea and the United States had not formally announced the first project under Korea's U.S. investment commitment as of Sept. 27, five days after Seoul briefed the National Assembly, Event Registry reported. Seoul attributed the delay to U.S. internal procedures rather than a new dispute.

The OECD raised its 2026 economic growth forecast for Korea to 3.7% from 2.6%. Analysts expect strong semiconductor exports to support growth in the fourth quarter, while weak domestic demand and rising oil prices pose renewed risks.

Stronger demand for advanced memory chips, driven by expanding global investment in AI data centers, fueled the increase in Korea's semiconductor exports.

The average price of self-serve regular gasoline in Los Angeles County reached USD 6.40 per gallon on Sunday, the highest since Oct. 10, 2022, according to Event Registry.

Event Registry reported that Riverside County's average self-serve regular gasoline price reached USD 6.287 per gallon on Sunday, also the highest since Oct. 10, 2022.

The average gasoline price in Orange County reached USD 6.385 per gallon, its highest level since Oct. 7, 2022, according to Event Registry.

1947 Oil & Gas began trading on the London Stock Exchange's AIM market, providing capital to complete its acquisition of Houston-based Renaissance Offshore and pursue growth in the U.S. Gulf of America/Mexico, according to World Oil.

World Oil said the company issued 500 million shares at 10 pence per share, giving them an aggregate value of GBP 50 million.

Following the AIM admission, 1947 Oil & Gas had approximately 651 million outstanding shares and a market capitalization of about GBP 65.1 million, according to World Oil.

The listing coincided with completion of the Renaissance transaction, which gave 1947 Oil & Gas its initial producing asset base, World Oil reported.

PowerCo and Gotion plan joint ventures spanning a PowerCo battery cell factory in Spain, a Gotion InoBat Batteries cell factory in Slovakia and a Gotion cathode material plant in Morocco, according to electrive.

The planned investment totals EUR 3.22 billion, including EUR 2.26 billion for the Sagunt project and approximately EUR 480 million each for the Slovakia and Morocco projects, electrive reported.

The deal remains subject to approval by the relevant authorities.

MGX is seeking data center assets in the Asia Pacific, according to Semafor Net Zero.

The BlackRock-backed AI Infrastructure Partnership, in which MGX is an investor, and Australia's IFM Investors are in exclusive talks for Stack Infrastructure's Asia Pacific data centers, Bloomberg reported.

Stack Infrastructure has sites in Australia, Japan and Malaysia, according to Semafor Net Zero.

Saudi Aramco is considering separating its growing gas business into a new division and listing part of it, according to Semafor Net Zero.

Reuters reported that Saudi Aramco plans to establish a gas business segment alongside its upstream and downstream operations.

Semafor Net Zero described the proposed move as a sign of pressure on Saudi Aramco to raise government cash and attract foreign investment into Saudi Arabia.

Dubai Electricity and Water Authority (DEWA) refinanced Dubai's 950 MW Noor Energy 1 concentrated solar power and PV plant with USD 2.7 billion in new debt, according to PV Magazine.

The complex combines 700 MW of concentrated solar power with 250 MW of photovoltaic capacity, PV Magazine reported.

DEWA CEO Saeed Mohammed Al Tayer said the refinancing replaced Noor Energy 1's original project debt and closed “well ahead of schedule,” according to PV Magazine.

Power Electronics broke ground on September 24 on a 53-acre manufacturing campus near Houston, Texas, according to Solar Builder.

Solar Builder described the project as the largest power conversion manufacturing campus in the United States.

The facility is intended to provide up to 40 GW of annual production capacity and create more than 400 local jobs, the publication reported.

Power Electronics aims to make the campus its most automated inverter production site to date.

Dajin Heavy Industry selected Ulstein's ULSTEIN HX122 design for an offshore installation vessel capable of installing future 4XL monopiles, according to Offshore Engineer OEDigital.

The vessel is intended to install monopiles, jacket foundations and offshore substations.

The project will add installation to Dajin's offshore wind offering, extending its capabilities beyond manufacturing, logistics and transportation.

Comstock and SOCAR signed a framework agreement covering their strategic partnership and SOCAR's USD 1.65 billion investment in the Haynesville Shale, according to GlobeNewswire Energy.

The agreement commits the companies to negotiate and execute a definitive purchase and sale agreement consistent with their previously announced letter of intent, GlobeNewswire Energy said.

The definitive agreement is expected to be signed by October 31, 2026, with the transaction expected to close by the end of 2026, according to GlobeNewswire Energy.

Mermaid Maritime established a Nigerian joint venture with Marine Platforms Limited to pursue subsea work for TotalEnergies Nigeria and other oil and gas operators in Nigeria, according to Offshore Engineer OEDigital.

Offshore Engineer OEDigital reported that the new company is named Mermaid Subsea Services Limited, with Mermaid Subsea Oil and Gas Services owning 49% and Marine Platforms owning 51%.

The venture is intended to support direct operational engagement with TotalEnergies Nigeria and other oil and gas companies while meeting Nigerian local-content, regulatory and contracting requirements, Offshore Engineer OEDigital reported.

Fujiyama Power Systems is setting up a 1.2 GW solar cell manufacturing facility in Madhya Pradesh, according to Business Standard.

The greenfield facility is expected to begin producing TopCon solar cells by the end of the ongoing fiscal year.

Fujiyama's total solar cell capacity will reach 2.3 GW after commercial operations begin, Business Standard reported.

Pawan Garg said the backward-integration project would strengthen Fujiyama's value chain and reduce its dependence on the open market.

Comstock Resources and Azerbaijan's SOCAR signed a framework agreement advancing their previously announced USD 1.65 billion strategic partnership in the Haynesville shale, World Oil reported.

The framework commits the companies to negotiate and execute a definitive purchase and sale agreement consistent with their earlier letter of intent, according to World Oil.

Under the planned partnership, SOCAR would invest USD 1.65 billion in Comstock Resources' Haynesville shale assets, World Oil reported.

PAET said uncertainty remains over whether Orca's proposed sale of its Tanzanian business will close before the Songo Songo Development Licence expires, according to GlobeNewswire Energy.

The licence and certain associated gas supply contracts are scheduled to expire on October 10, 2026.

Citing uncertainty over the transaction's timing and regulatory approvals, PAET recommended immediate transition planning in case the sale is not completed before October 10, 2026.

South 8 expects its new manufacturing line to add 5 MWh of annual cylindrical-cell production capacity, according to Solar Builder.

The expansion supports production of the company’s ARCTIC AE35 18650 cell.

South 8 says the cell’s liquefied-gas electrolyte enables reliable charging at temperatures as low as -76 degrees Fahrenheit (-60 degrees Celsius).

NNPC Ltd. welcomed the USD 800 million final investment decision on Nigeria's Ima Gas Project.

AMNI International and TotalEnergies are developing the offshore project across Oil Mining Leases 112 and 117.

The project is expected to produce about 300 million standard cubic feet of gas per day at peak.

NNPC Ltd. said presidential directives issued in 2024 facilitated the decision through fiscal incentives, streamlined contracting and lower development costs.

Sri Lanka’s Ministry of Energy ended net metering and net accounting for all new rooftop solar installations, according to Event Registry.

Existing customers will retain their net metering or net accounting arrangements until their agreements expire, Event Registry reported.

New Net Plus agreements have a maximum term of 12 years, according to Event Registry.