•Eni and Seri Industrial announced the launch of FAENIX, a company specializing in the development of Europe's lithium iron phosphate (LFP) battery supply chain.
•DP World is in talks with government officials to build a massive new port and container terminal in Fujairah on the UAE's east coast.
•The project aims to secure trade routes and bypass the Strait of Hormuz after Jebel Ali port saw container volumes drop 95% due to tensions with Iran.
•A senior company official stated the new port could be completed within 18 months, while emphasizing that Jebel Ali will not be downsized.
•The Canadian federal government, Alberta province, and the Oil Sands Alliance reached an agreement to advance the Pathways Carbon Capture and Storage Project.
•DP World is in talks to build a new multipurpose port and container terminal in Fujairah to create a shipping route that bypasses the Strait of Hormuz.
•Estimates suggest that the construction of the new port could take as little as 18 months.
