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Nine major oil companies are projected to earn more than $95bn in the third quarter as Middle East conflict drives up fossil fuel prices, sparking calls for windfall taxation and renewable energy investment.
Germany’s hydrogen pipeline successfully transported renewable hydrogen to Marl Chemical Park in August 2026, but questions remain about market viability and whether industrial demand can justify billions in infrastructure investment.
Spain’s Nabrawind has developed a crane-free system for installing tall wind turbine towers, with UL certification achieved in September 2026 and deployment underway at Fortescue’s Nullagine project in Australia.
Iran’s parliament has exempted China, India, Iraq, and Qatar from oil transit restrictions in the Strait of Hormuz amid a continuing U.S. naval blockade of Iranian ports.
Guyana’s rapidly expanding oil production is helping ease global supply constraints amid Middle East tensions and elevated petroleum prices, with output projected to exceed one million barrels daily by year-end 2026.
U.S. refineries are producing less gasoline and shifting toward diesel and jet fuel production as global supply constraints and elevated margins make these products more profitable.
