Oil & Gas

Shanghai – September 17, 2026 -- Shanghai Electric has secured its first overseas heavy-duty gas turbine contract, landing the Unit 3 award for the 500 MW Sarawak Samalaju Combined Cycle Gas Turbine Project in Malaysia.

Shanghai Electric will deliver full EPC turnkey scope plus a 25-year service agreement

The contract covers a complete engineering, procurement and construction turnkey solution for the gas-fired plant, paired with a 25-year long-term service agreement (LTSA) spanning all major equipment. Gas turbines, steam turbines, generators, heat recovery steam generators and air-cooled systems will all be manufactured in-house by Shanghai Electric, which will also act as the sole provider for decades of maintenance and service.

The Woodlands, Texas – September 17, 2026 -- CB&I and AG&P Industrial have completed and commissioned two 60,000m3 full containment LNG storage tanks at the LNGPH Ilijan LNG Facility in the Philippines, marking the world's first in-service full containment all-steel LNG tanks.

Tank 1 achieves world-first status as all-steel full containment LNG storage

The commissioning of Tank 1 marked the industry's first in-service full containment LNG tank built entirely of steel. Tank 2 has since completed performance testing and is fully operational, giving the Ilijan facility two functioning units of the technology.

Houston – September 17, 2026 -- Allstream Energy Partners has secured nominations in six categories for Fast Company's Best Workplaces for Innovators program, spotlighting the Houston-based firm's AI-driven marketing technology built for the oil and gas sector.

Six nominations span AI, leadership, and marketing categories

The company was nominated for Best Workplaces for Innovators North America, AI, Automation and Machine Learning Excellence, Advertising, Marketing and PR, Small & Mighty Companies, Innovative Team of the Year, and Innovative Leader of the Year, an individual honor for Founder and CEO Efrain Garcia.

Wilmington, Del. – September 17, 2026 -- The U.S. Bankruptcy Court has disqualified law firm HSF Kramer from representing Pleasants Power Station in its Chapter 11 proceedings, sustaining conflict-of-interest objections raised by Omnis Fuel Technologies and the Office of the United States Trustee.

Bangkok – September 17, 2026 -- Gastech 2026 opens in Bangkok on September 14, convening 19 government ministers, global energy CEOs and technology leaders to address emerging markets that now drive more than 80% of global energy demand growth. Hosted by Thailand's Ministry of Energy and running through September 17, the event follows Gastech 2025's approximately $60 billion in commercial agreements and investments, setting a high bar for deal-making in this edition.

Houston – September 17, 2026 -- Shell Energy North America (US), L.P. (SENA), a subsidiary of Shell plc, has agreed to sell its interests in RISEC Holdings, LLC to Constellation Energy Generation, LLC for $715 million while simultaneously acquiring 100% equity in Hunlock Creek Generating LLC, a 169-megawatt gas-fired generation asset in Pennsylvania.

Shell exits New England plant to lock in accelerated gains

RISEC owns a 609-MW, two-unit combined cycle gas turbine power plant serving the New England power market. SENA has held an energy conversion agreement for the plant's full electricity output since 2019, an arrangement that will terminate once the Constellation sale closes. The company said the transaction brings forward returns it had expected to realize through longer-term ownership, delivering a significant gain on the sale.

Whippany, N.J. – September 17, 2026 -- Suburban Propane Partners, L.P. (NYSE: SPH) delivered NASCAR-themed Speedy Bears to pediatric patients at St. Joseph's University Hospital in Paterson, New Jersey, on September 10, part of a two-day community engagement effort tied to its SuburbanCares corporate social responsibility platform.

Hospital visit follows National Teddy Bear Day and taps a national NASCAR Foundation program

The delivery came one day after National Teddy Bear Day on September 9 and forms part of The NASCAR Foundation's Speediatrics Children's Fund Speedy Bear Program, which distributes more than 5,000 Speedy Bears annually to roughly 135 hospitals across all 50 U.S. states, Canada and Mexico.

Boca Raton – September 16, 2026 -- The national average price of diesel hit an all-time high of $5.85 a gallon on September 16, 2026, according to AAA, then climbed further to $5.9015 three days later, surpassing the previous record set in June 2022.

Diesel prices have risen more than 50% since the outbreak of war with Iran

A year ago the same gallon cost $3.71; on the eve of the conflict it cost $3.76. Six months of disrupted tanker traffic through the Strait of Hormuz and crude trading near $90 a barrel have added more than two dollars to a fuel that powers freight, agriculture, construction and a large share of the country's backup and off-grid electricity.

Seoul, South Korea – September 16, 2026 -- HD Hyundai Heavy Industries will invest a combined KRW 1.0722 trillion to build a new land-based power generation engine plant and a dedicated small modular reactor (SMR) equipment facility, both in Ulsan, as it races to capture surging power demand from AI data centers.

New 3 GW engine facility targets 2028 startup in Ulsan

The company will spend KRW 833.6 billion on a 215,000-square-meter production complex in Onsan-eup, Ulju-gun, Ulsan, dedicated to HiMSEN engines for land-based power generation. The site will include engine assembly and testing, crankshaft machining, and engine block casting operations. Construction starts in the first quarter of next year, with completion targeted for May 2028 and full-scale operations to follow.

Wiesbaden – September 16, 2026 -- Germany's annual inflation rate climbed to 2.9% in August 2026, up from 2.8% in July and 2.3% in June, driven largely by an energy price shock tied to the Iran war, the Federal Statistical Office (Destatis) confirmed. Consumer prices rose 0.2% month-on-month, matching the preliminary reading.

Energy prices post the sharpest annual jump in over three years

Overall energy costs rose 10.5% year-on-year in August, up from 8.3% in July, marking the steepest increase since February 2023's 19.1% spike. Fuel prices led the surge, up 27.7% year-on-year and 3.1% month-on-month, with diesel climbing 6.4% and premium gasoline 2.1% versus July. Light heating oil rose 49.6% annually and 6.5% on the month.