SaaS · Energy
A strong slate of senior figures from Libya’s financial sector, global energy intelligence and development finance will participate as speakers at the Libya Energy & Economic Summit (LEES) 2027 in Tripoli from January 23–25. Their participation will bring investors and policymakers closer to the institutions shaping how Libya finances, evaluates and delivers its next phase of economic and energy development.
The speakers arrive at a pivotal moment for Libya. The country is seeking to convert renewed international interest in its hydrocarbons into sustained investment, while addressing the infrastructure, institutional and financing constraints that have historically limited development.
Mohammed Ali Addarrat, Chairman of the Management Committee of the Libyan Foreign Bank (LFB), will bring the perspective of an institution at the center of Libya’s international financial architecture. Under his leadership, LFB has placed greater emphasis on transparency, governance and digital transformation while expanding its role in supporting economic activity. The bank has also approved a $1 billion financing facility for National Oil Corporation projects aimed at increasing the country’s oil production above 1.5 million barrels per day.
Malinne Blomberg, Deputy Director General for North Africa at the African Development Bank (AfDB), will bring a broader development-finance perspective to LEES 2027. The AfDB’s 2025–2028 Country Brief for Libya prioritizes stronger institutions, improved access to basic infrastructure and economic diversification, with interventions spanning transport, renewable energy, agriculture, water security and non-oil value chains. The bank is also working to expand private sector participation and investment in the country.
Jennifer Jumbe, Director of Energy & Natural Resources at S&P Global Energy, will bring an international market perspective to Libya’s investment drive. With more than 14 years of energy-market experience, Jumbe advises government, financial institutions and energy companies on the economic underpinning major energy projects. Her participation comes as Libya seeks to attract international capital following its latest licensing activity and as investors assess the commercial potential of new exploration opportunities across the country.
Meanwhile, Cristina Tomé Martinez, Technical Research Associate Director for Upstream Energy at S&P Global Energy, will add specialist expertise to discussions around Libya’s upstream and Mediterranean energy outlook. Her work spans technical research and asset evaluation, making her participation particularly timely as Libya advances exploration and considers how new resources can be connected to export markets.
The participation of these speakers gives LEES 2027 a stronger connection between financial decisions surrounding Libya’s recovery and the energy projects driving it. Their combined perspectives will be valuable as Libya moves from attracting interest to demonstrating that capital can be deployed effectively, projects can be executed and energy revenues can support a broader economic transformation.
LEES 2027 will bring together government officials, national oil companies, international operators, investors, financial institutions and service providers in Tripoli for three days of discussions focused on Libya’s investment agenda. With the country pursuing higher production, new exploration and major infrastructure development, the summit will provide a platform for investors to engage directly with the institutions and leaders shaping Libya’s next economic chapter.
For more information about LEES 2027, visit www.LibyaSummit.com.
Distributed by APO Group on behalf of Energy Capital & Power.
Oct 22 · 13:59·APO Group
SaaS · Energy
Wamkele Mene, Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat, has been confirmed as a keynote speaker at South Sudan Oil & Power (SSOP) 2026, taking place November 24–25 in Juba. His participation comes as South Sudan deepens petroleum and infrastructure ties with regional neighbors, bringing the country’s energy investment agenda into a broader discussion around regional trade, market access and economic integration.
Mene’s participation follows his July 2026 visit to Juba, during which he engaged with government and private-sector stakeholders on South Sudan’s pathway toward AfCFTA ratification and the opportunities presented by the continental market. The country signed the AfCFTA agreement in 2018. During the visit, South Sudanese authorities highlighted the role of the platform in strengthening private-sector participation, supporting SME growth and advancing broader trade and regional ties.
For South Sudan, AfCFTA membership stands to advance regional integration across an energy sector that is inherently dependent on cross-border trade and infrastructure. As a landlocked oil producer, the country relies on pipelines through Sudan to move crude to international markets, while neighboring countries provide important routes for petroleum imports, equipment, services and logistics.
Recent disruptions have highlighted the commercial risks associated with this dependence. Damage to export infrastructure in Sudan disrupted South Sudanese crude flows in 2024, while the government has sought to strengthen complementary regional supply routes. In 2025, South Sudan and Kenya established a framework for petroleum-product imports through the Port of Mombasa and Northern Corridor, including access to pipeline and storage infrastructure.
AfCFTA membership would add a trade and investment dimension to these physical regional connections. Ratification would enable qualifying South Sudanese businesses to trade under the Agreement’s preferential framework, potentially reducing barriers to the movement of goods and services required by the energy industry while improving access to markets across the continent.
This regional integration agenda provides a strong backdrop to SSOP 2026. South Sudan is targeting an increase in oil production from approximately 170,000 barrels per day (bpd) to 230,000 bpd in the short term and 450,000 bpd over the longer term. Reaching these targets will require investment not only in exploration and mature-field redevelopment, but also in the infrastructure, services and regional commercial relationships needed to support higher production and connect projects with markets.
Mene’s participation will bring this continental trade and investment perspective to SSOP 2026. Held under the theme Resource Renaissance – Energy-Fueled Growth for a New Generation, the conference will connect government, operators, investors, financiers and service companies as South Sudan seeks to translate energy investment into wider industrial and economic growth.
Now in its seventh edition, SSOP has a proven track record of converting high-level engagement into actionable commercial and cross-border partnerships. The event has facilitated landmark agreements spanning exploration, production and infrastructure cooperation with regional partners such as Djibouti and South Africa.
To register for South Sudan Oil & Power 2026 in Juba on November 24–25, visit: https://apo-opa.co/4i84D8d
Distributed by APO Group on behalf of Energy Capital & Power.
Oct 22 · 13:21·APO Group
Energy · Marketing & advertising
HOUSTON, TX / October 22, 2026 / Blue Dolphin Energy Company ("Blue Dolphin") (OTCQX:BDCO), an independent refiner and marketer of petroleum products in the Eagle Ford Shale region, announced the appointment of William Christopher ("Chris") McDougall as Chief Financial Officer, Treasurer, and Assistant S
Oct 22 · 13:00·ACCESS Newswire
Finance · Industrial
President John Dramani Mahama has announced that Ghana will formally halt the export of unprocessed mineral resources by 2030, marking a decisive shift towards resource-driven industrialisation, local value addition, and national economic sovereignty.
Delivering the keynote address at the opening of the 2nd Edition of the Mining in Motion Summit in Accra, President Mahama outlined a phased implementation roadmap to ensure the nation’s mineral wealth directly catalyses domestic manufacturing, infrastructure expansion, and job creation.
“We have already imposed a ban on the export of iron scrap and non-ferrous metals. I have set a clear goal that by 2030 raw minerals must no longer leave our shores,” President Mahama declared. “Our bauxites, manganese, iron, lithium, and other minerals must support processes and industrial development here at home.”
President Mahama said the transition is anchored by transparent regulatory timetables, targeted legislation, and clear commodity-specific benchmarks.
He reaffirmed that government policy will pivot from merely extracting raw materials to building complete industrial value chains. Highlighting the integrated aluminium industry as a flagship priority, he stated:
“Every major initiative must have clear responsibilities, measurable milestones, and transparent reporting. In Ghana’s aluminium industry, our objective is to modernise VALCO and develop domestic aluminium refining, directly linking Ghanaian bauxite to smelting and downstream manufactured products.”
Reassuring the international and domestic investor community, President Mahama said local processing obligations will be matched by state commitments to provide competitive operating conditions. The Government is committed to deploying critical infrastructure, fostering technical skill acquisition, and establishing viable financing frameworks.
He observed that legislative action alone cannot build a sustainable sector without a predictable, transparent, and supportive operating environment.
“We must translate these frameworks into coordinated investments, regional infrastructure, and larger markets for African producers. Investors need predictable rules, clear institutional responsibilities, and prompt approvals. Communities need confidence that licence conditions and environmental obligations will be rigorously enforced,” he noted.
On the continental front, President Mahama rallied African leaders to operationalise the African Mining Vision (AMV) by aligning domestic laws and ratifying instruments establishing the African Minerals Development Centre (AMDC) to harmonise mineral governance across borders.
Domestically, the President noted that the industrialisation drive must advance broad-based Ghanaian participation. He urged that local enterprises must be empowered beyond auxiliary services to hold substantial equity, managerial control, and technological capabilities across the value chain—including fabrication, laboratory analytics, software engineering, and equipment maintenance.
The Summit, themed “One Continent. One Voice on Minerals. Aligning Africa’s Mineral Future,” convened policymakers, industry executives, and continental leaders to deliberate on the sustainable governance of Africa’s critical mineral endowments.
It brought together several regional dignitaries and traditional leaders, including the Vice President of the Republic of Liberia, H.E. Jeremiah Kpan Koung, Sr.
Distributed by APO Group on behalf of The Presidency, Republic of Ghana.
Oct 22 · 12:53·APO Group
SaaS · Energy
By Grant Villet, Business Development and Integration Executive, Aurex Constructors (www.Aurex.com).
Africa’s energy story is often around gas discoveries and investment potential. However, the real opportunity extends far beyond the resource itself. Mozambique and Namibia are emerging as important players in Africa’s oil and gas landscape, and what makes these markets particularly exciting is not simply the scale of their energy resources.
It is the potential for major energy developments to become platforms for broader economic transformation. The question we should be asking is not only how we develop these resources, but what we build around them and what remains when the project itself is complete.
The opportunity extends far beyond the oil and gas facility
In Mozambique, the scale of gas discoveries has already attracted global investment and created momentum for infrastructure development. Namibia is generating similar interest through its offshore discoveries.
These developments create demand for far more than the facilities required to produce or handle gas. They require ports, roads, logistics networks, power infrastructure, telecommunications and accommodation facilities. They also require a skilled workforce comprising artisans, supervisors, engineers and project managers, supported by the technical and operational expertise needed to deliver large-scale projects.
Local suppliers capable of meeting international standards for safety, quality and delivery are equally important. This supporting ecosystem is critical because it is where much of the broader economic opportunity lies.
If the ecosystem develops alongside the project, local businesses can participate meaningfully and the benefits can extend throughout the economy. Energy investment can then build demand and capability across multiple sectors rather than remaining concentrated within the project itself.
For Southern Africa, this creates an even greater opportunity. Developments in Mozambique and Namibia could strengthen regional supply chains and create opportunities through improved energy security for businesses across multiple countries. The real value lies in recognising these projects as platforms for broader economic growth rather than simply as energy-producing assets.
A successful project leaves a legacy
For me, success in a major infrastructure project cannot be measured only by whether a facility is completed on time and on budget. Those things are obviously important, but they are only part of the story. The projects that leave the biggest impact are those that develop people and strengthen local businesses creating lasting economic benefits long after construction has finished. That requires something that is sometimes harder to quantify, namely trust.
Major energy developments bring together governments, international operators, contractors, local suppliers and communities. These relationships can become complicated, particularly in complex operating environments, but our experience has shown that projects perform better when relationships are built on transparency and shared goals.
Problems are solved faster. Decisions can be made more effectively. Stakeholders remain focused on the bigger picture rather than becoming trapped in competing interests. Ultimately, the most successful projects create enduring economic and social value alongside the infrastructure they deliver.
Local capability cannot be an afterthought
There is often significant attention on the investment and jobs generated by major energy projects. Those benefits matter, but they should be viewed as part of a much longer-term process. If local participation and skills development are treated as box-ticking exercises, the benefits will inevitably be limited.
For local economic participation to become transformational, it must be intentional. Governments, operators and contractors need to genuinely invest in building sustainable local capacity. That means creating opportunities for local companies to grow, investing in training programmes and providing pathways for people to develop technical expertise that remains with them long after a project has been completed.
The measure of success should extend well beyond the construction phase. Five or ten years down the line, are local businesses stronger? Are local professionals more experienced? Has technical expertise been developed that can be applied to future projects? Is the economy better positioned to take advantage of the next opportunity? If the answer to those questions is yes, then real value has been created.
Lessons from complex operating environments
Our experience in Mozambique and Namibia has reinforced another important lesson in that technical capability alone does not guarantee success. Every major project has its own challenges, whether they are logistical, regulatory or operational.
Understanding the local environment, building strong relationships and remaining adaptable are therefore essential. We have also seen the value of engaging local businesses early and investing in local partnerships. Early investment in local partnerships and skills development generally delivers stronger long-term outcomes.
This is particularly important when projects are being delivered in remote or developing regions, where resilient supply chains require careful planning and strong collaboration between stakeholders. These lessons extend well beyond Mozambique and Namibia. They are relevant to energy and infrastructure projects across the continent.
Collaboration works best when it starts early
The complexity of major energy developments means that no single organisation can deliver their full potential in isolation. Governments, international companies, engineering and construction firms, African contractors and local suppliers all have roles to play. Collaboration succeeds when there is early engagement, clear communication and mutual respect between stakeholders.
Where challenges tend to arise is when stakeholders operate in silos or when local companies are brought into the conversation too late. Misaligned expectations can quickly create friction and undermine the potential of the wider project. The most successful projects recognise the complementary strengths that different participants bring.
International companies can contribute technology, experience and investment. Local businesses bring valuable market knowledge, established relationships and an understanding of local operating conditions. When those strengths are combined effectively, everyone benefits.
This is why local participation should be regarded as a strategic advantage rather than a compliance requirement. It should be understood as a source of capability, and knowledge that can make the project itself stronger.
Oil and gas and the wider question of energy security
As industrial and economic demand grows, oil and gas also has an important role to play in Southern Africa’s energy future. Countries need reliable energy sources to support economic growth and industrial development and address energy security challenges while supporting sectors such as manufacturing, mining and heavy industry.
Importantly, oil and gas does not have to be viewed in opposition to renewable energy. It can form part of a balanced energy mix as countries develop the reliable energy systems required to support growing economies. There is also a broader regional opportunity.
Major energy developments can help connect infrastructure, supply chains and markets across national borders. In doing so, they can create stronger economic linkages and support greater regional integration. The opportunity extends beyond energy production to building more connected economies, stronger supply chains and greater regional growth.
Africa’s biggest opportunity and risk
Looking beyond individual oil and gas developments, I believe Africa has a unique opportunity to use its natural resources as a foundation for industrialisation, job creation and the development of globally competitive industries. However, that opportunity comes with a significant risk.
We could focus too heavily on extracting resources without building the skills, infrastructure and industries needed to maximise their long-term value. Natural resources alone do not create prosperity. What matters is how effectively those resources are translated into economic development and sustainable business growth.
That requires a different way of thinking about major energy projects. The oil and gas facility is not the end point. It is one component of a much larger economic system. Ports, roads, logistics, telecommunications, power infrastructure, accommodation, skills, local suppliers and resilient supply chains all form part of the picture. So do the relationships between governments, international companies, contractors, communities and local businesses.
If these elements are developed deliberately and in parallel, the impact of an energy project can extend far beyond the project itself. Mozambique and Namibia demonstrate the scale of the opportunity. Their energy developments have the potential to strengthen regional supply chains, improve energy security, support industrial development and create opportunities that extend across borders. The challenge and the opportunity is to ensure that Africa captures that wider value.
If we can balance resource development and capability development, support international investment while strengthening local participation, and connect individual projects to broader regional growth, energy investment can become much more than an export opportunity. It can become a foundation for lasting economic transformation. And that is when Africa’s natural resources can truly become an engine for the continent’s future.
Distributed by APO Group on behalf of Aurex Constructors.
Aurex Constructors Contact:
lauryn.joseph@aurex.com
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As a 100% South African owned and managed company with 51% black ownership, Aurex takes pride in its highly skilled workforce, which has a proven track record of delivering innovative and customised project management solutions tailored to the specific requirements of customers. Aurex Constructors is dedicated to fostering growth and sustainability in the regions it serves. We strive for excellence.
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Oct 22 · 11:41·APO Group
Finance · SaaS
OPEC Secretary General Haitham Al Ghais will speak at the Libya Energy & Economic Summit in Tripoli (January 23–25), underscoring the organization's support for Libya's next phase of energy growth.
Al Ghais’ participation comes as Libya accelerates efforts to raise production, attract international capital and modernize its upstream sector. The country’s National Oil Corporation (NOC) has laid out ambitious oil production targets in the near term and substantially higher output as investment flows into exploration and field development.
As a leading voice in the global oil community, his participation brings a global market perspective to a summit increasingly focused on execution. OPEC expects oil demand to remain robust, while Al Ghais has repeatedly stressed the need for timely investment to prevent future supply constraints and maintain reliable energy security.
Libya occupies a distinctive position within that outlook because of its substantial resource base and continued production growth. The country holds Africa’s largest proven crude reserves, while its light, sweet crude and proximity to European markets strengthen its strategic investment proposition.
The Ministry of Oil and Gas is driving the policy and diplomatic agenda underpinning this expansion. Under Minister Dr. Khalifa Abdulsadek, Libya is advancing regulatory reforms, international partnerships and investment frameworks designed to support production growth while supporting the country’s role in regional and global energy markets.
The NOC remains the commercial engine of that strategy, converting licensing opportunities into exploration, production and joint-venture activity. Chairman Masoud Suleiman is overseeing an investment drive spanning mature fields, new acreage, infrastructure and international partnerships.
LEES 2027 will provide a direct platform for that strategy to reach global investors. The fifth edition will bring together governments, national oil companies, international operators, financiers and energy service companies to examine upstream opportunities, gas development, infrastructure, power and renewable energy.
The summit has already established itself as a platform for major commercial engagement, with more than $20 billion in energy investments and deals associated with previous editions. With Secretary General Al Ghais joining the Ministry and NOC leadership, LEES 2027 will connect Libya’s investment agenda directly with the global oil market’s most influential institutional forum.
For more information about LEES 2027 visit www.LibyaSummit.com and to sponsor or secure your participation as a delegate, please contact sales@energycapitalpower.com.
Distributed by APO Group on behalf of Energy Capital & Power.
Oct 22 · 09:49·APO Group
Finance · AI
Hong Kong, Oct 22, 2026 - Competition in AI has evolved from contests over individual technologies into a new phase defined by coordination across foundational ecosystems and industry value chains. Zhipu, a leading large-model developer, has again expanded its footprint as a limited partner (LP) in the primary market by teaming up with Jiangmen Ventures to establish a cognitive intelligence venture capital fund. QuantGroup (02685.HK), a provider of world foundation models for Physical AI, is among the fund's LPs.
Corporate registration records show that Zhejiang Zhipu Jiangmen Cognitive Intelligence Venture Capital Partnership (Limited Partnership) was incorporated in Shangcheng District, Hangzhou, on 24 September with total subscribed capital of RMB 1 billion. Its business scope covers venture capital, limited to investments in unlisted companies. The fund combines local state-owned capital, industrial investors and specialist investment firms. Two local government-backed limited partners, Hangzhou Shangcheng Linghang Venture Capital Co., Ltd. and Hangzhou Urban Investment Industry Development Investment Partnership (Limited Partnership), hold a combined 60% interest. The other partners are Zhejiang Zhipu Xinpian Technology Co., Ltd., an affiliate of Zhipu; Hainan QuantGroup Technology Co., Ltd., an affiliate of Hong Kong-listed QuantGroup (02685.HK); Hainan Hezun Investment Co., Ltd.; and Hangzhou Jizhi Enterprise Management Consulting Co., Ltd. The latter also serves as the fund's executive partner, and its appointed representative is Du Feng, a founding partner of Jiangmen Ventures. The deadline for partners to pay in their subscribed capital is September 2031.
Industry observers generally expect that collaboration among leading companies raises the success rate of ecosystem-building, reinforcing a Matthew effect in which the strong become stronger. Companies that are first to form ecosystem alliances can secure early access to downstream use cases and early-stage projects. Zhipu has pursued precisely this approach. In 2025, it partnered with Unilumin Group (300232.SZ), a leader in optoelectronic smart display technology, and MetaView to establish Shenzhen Zhixian Robot Technology Co., Ltd., building an innovation ecosystem for AI-powered smart terminals. In the energy sector, iFlytek worked with PetroChina, China Mobile and Huawei to develop the Kunlun large model, helping PetroChina set a new benchmark for AI in energy.
QuantGroup's presence among the LPs has attracted considerable attention. As Hong Kong's first listed "intelligent species" company, QuantGroup positions itself as a provider of world foundation models for Physical AI. It has pursued a two-pillar strategy combining AI-enabled e-commerce solutions with Physical AI, using cash flow from its established consumer business to fund frontier R&D. For infrastructure providers, ecosystem building is a core capability: connecting upstream model developers, midstream embodied-robotics developers, downstream use cases and capital providers to secure a central position in the Physical AI ecosystem during its early development. At the ecosystem level, QuantGroup works with partners including ByteDance's Volcengine, Beijing Ruihong Embodied Intelligence Robot Technology Co., Ltd., an affiliate of Tungkong Inc. (002117.SZ), and Chewujie to build an embodied AI ecosystem. This has extended its commercial reach from restaurant kitchens to brick-and-mortar venues such as car showrooms. Its role as an LP in the cognitive intelligence fund established by Zhipu and Jiangmen Ventures marks another step toward moving upstream in the Physical AI value chain and gaining earlier access to large-model capabilities and early-stage projects.
Building an ecosystem with the first publicly listed large-model company naturally improves the odds of success, as the two sides can combine their strengths, complement one another and develop benchmark industry solutions quickly. Zhipu (02513.HK) listed on the Hong Kong Stock Exchange on 8 January, becoming the world's first publicly listed large-model company. In May, Beijing Zhipu Future Technology Co., Ltd., a wholly owned subsidiary of Zhipu, and Guotai Junan Innovation Investment Co., Ltd., a wholly owned subsidiary of Guotai Haitong, jointly established an RMB 540 million AI industry fund in Zhangjiang, Shanghai. Earlier, in 2024, Zhipu led the establishment of the Z Fund (LinkX Capital), an AGI ecosystem fund with RMB 1.5 billion of assets under management at its first close. According to Zhipu's 2025 financial report, LinkX Capital (Z Fund) had an aggregate value of RMB 1.3027 billion at the end of 2025 and had invested in more than 30 AI companies.
Jiangmen Ventures, which is partnering with Zhipu on the new fund, is an early-stage venture capital firm focused on discovering technology-driven start-ups. It primarily invests in foundational AI technologies and their industrial applications, and was one of Zhipu's Series A investors. The two organizations have a long-standing relationship. The "cognitive intelligence" in the fund's name aligns with Zhipu's large-model technology roadmap. The fund's location in Hangzhou also builds on Zhipu's ties with the city. In March 2025, Zhipu raised more than RMB 1 billion in strategic financing, with participation from Hangzhou municipal state-owned investors including Hangzhou City Investment Industrial Fund and Shangcheng Capital.
Venture capital professionals note that, for companies expanding into Physical AI, investing as an LP in an industry fund led by a leading large-model company can generate financial returns and provide early access to upstream model capabilities and early-stage projects. As large-model competition shifts from pure performance to ecosystem strength, more industrial companies are entering the primary market as investors.
Oct 22 · 09:13·ACN Newswire
Industrial · Oil & gas
Argo Graphene (OTC: ARLSF) establishing commercial-scale graphene refinery in Chicago and evaluating graphene as industrial lubricant performance-enhancing
Oct 22 · 07:01·GlobeNewswire
Finance · Energy
DENVER, Oct. 21, 2026 -- Greenland Energy Company (NASDAQ: GLND) ("the Company" or "Greenland Energy"), an oil exploration company focused on East Greenland's Jameson Land Basin, today announced Roderick McIllree's resignation from the Company's Board of Directors (the...
Oct 22 · 02:59·PR Newswire
Finance · Oil & gas
SPRING, Texas--ExxonMobil Holdings Corporation (NYSE: XOM) will release its third quarter 2026 financial results on Friday, October 30, 2026. The company will issue a press release via Business Wire that will be available at 5:30 a.m. CT at investor.exxonmobil.com . Darren Woods, Chairman and Chief Executive Officer; Neil Hansen, Senior Vice President and Chief Financial Officer; and Jim Chapman, Vi
Oct 16 · 19:00·ExxonMobil
Finance · Healthcare
Delta Air Lines (NYSE: DAL) today reported financial results for the September quarter and provided its outlook for the December quarter and full year 2026.
“Demand remains strong, supported by consumers’ growing preference for experiences and travel, with air travel continuing to be one of the best values in the consumer economy," said Ed Bastian, Delta's Chief Executive Officer. "Against this backdrop, we delivered September quarter pre-tax profit of $1.5 billion, matching last year's performance, and generated $1.9 billion of free cash flow year-to-date. Our resilience reflects the structural durability we’ve built over many years, enabling us to effectively navigate one of the most elevated fuel environments in recent times. The foundation of that resilience is our people, whose commitment to delivering for our customers continues to set Delta apart."
Bastian continued, "For the full year, we expect to generate a pre-tax profit of roughly $4.5 billion, absorbing a $6 billion increase in fuel costs. Looking ahead, our focus remains on profitable growth and delivering against our long-term financial framework, including mid-teens margins and returns, durable free cash flow and gross leverage of approximately one times."
September Quarter 2026 GAAP Financial Results
Operating revenue of $20.2 billion
Operating income of $1.5 billion with an operating margin of 7.2%
Pre-tax income of $1.1 billion with a pre-tax margin of 5.3%
Earnings per share of $1.15
Operating cash flow of $1.7 billion
September Quarter 2026 Non-GAAP Financial Results
Operating revenue of $17.6 billion
Operating income of $1.7 billion with an operating margin of 9.4%
Pre-tax income of $1.5 billion with a pre-tax margin of 8.5%
Earnings per share of $1.72
Operating cash flow of $1.7 billion
Read the full release on PR Newswire via download.
Forward Looking Statements
Statements made in this press release that are not historical facts, including statements regarding our estimates, expectations, beliefs, intentions, projections, goals, aspirations, commitments or strategies for the future, should be considered “forward-looking statements” under the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees or promised outcomes and should not be construed as such. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the estimates, expectations, beliefs, intentions, projections, goals, aspirations, commitments and strategies reflected in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the possible effects of serious accidents involving our aircraft or aircraft of our airline partners; breaches or lapses in the security of technology systems we use and rely on, which could compromise the data stored within them, as well as failure to comply with evolving global privacy and security regulatory obligations or
adequately address increasing customer focus on privacy issues and data security; disruptions in our information technology infrastructure; failure of the technology we use or depend on to perform effectively, including new and emerging technologies; increases in the price of aircraft fuel; extended
disruptions in the supply of aircraft fuel, including from Monroe Energy, LLC (“Monroe”), our wholly-owned subsidiary that operates the Trainer refinery; failure to achieve expected results or returns from our commercial relationships with airlines in other parts of the world and the investments we have in
certain of those airlines; the effects of a significant disruption in the operations or performance of third parties on which we rely; failure to comply with the financial or other covenants in our financing agreements; labor-related disruptions; the effects on our business of seasonality and other factors beyond our control, such as changes in value in our equity investments, severe weather conditions, natural disasters or other environmental events, including from the impact of climate change; failure or inability of insurance to cover a significant liability at Monroe’s refinery; failure to comply with existing and future environmental regulations to which Monroe’s refinery operations are subject, including those relating to the discharge of materials into the environment, waste management, pollution prevention measures and greenhouse gas emissions; significant damage to our reputation and brand, including from exposure to significant adverse publicity or inability to achieve certain sustainability goals; our ability to retain senior management and other key employees, and to maintain our company culture; disease outbreaks or other public health threats, and measures implemented to combat them; the effects of terrorist attacks, geopolitical conflict or security events; competitive conditions in the airline industry; extended interruptions or disruptions in service at major airports where we operate; significant problems associated with types of aircraft or engines we operate; the effects of extensive regulatory and legal compliance requirements we are subject to; the impact of laws and regulations governing environmental protection, including but not limited to regulation of hazardous substances, increased regulation to reduce emissions and other risks associated with climate change, and the cost of compliance with more stringent environmental regulations; and unfavorable economic or political conditions in the markets in which we operate or volatility in currency exchange rates.
Additional information concerning risks and uncertainties that could cause differences between actual results and forward-looking statements is contained in our Securities and Exchange Commission (SEC) filings, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and other filings filed with the SEC from time to time. Caution should be taken not to place undue reliance on our forward-looking statements, which represent our views only as of the date of this press release, and which we undertake no obligation to update except to the extent required by law.
Oct 9 · 10:30·Delta Air Lines
Healthcare · Education
Berlin, September 17, 2026 – Bayer announced today that the U.S. Food and Drug Administration (FDA) has approved Kerendia™ (finerenone), a selective, non-steroidal mineralocorticoid receptor antagonist (nsMRA), for the treatment of adult patients with chronic kidney disease (CKD) associated with type 1 diabetes (T1D). Finerenone (10mg, 20mg) is now indicated to reduce urinary albumin-to-creatinine ratio (UACR), which is expected to reduce the risk of sustained estimated glomerular filtration rate (eGFR) decline and end-stage kidney disease in adults with chronic kidney disease associated with type 1 diabetes.
Approximately 30% of people with type 1 diabetes in the U.S. develop chronic kidney disease, increasing their risk of kidney failure and cardiovascular events. Even with recommended treatments for blood glucose and blood pressure management, many patients remain at risk of kidney disease progression and cardiovascular complications.
“For more than three decades, people with chronic kidney disease and type 1 diabetes have had limited options to address the risk of kidney disease progression," said Dr. Janet McGill, Professor of Medicine in the Division of Endocrinology, Metabolism, and Lipid Research at Washington University School of Medicine in St. Louis, and Co-Chair of the study’s Executive Committee. "The approval of Kerendia to reduce UACR, which is expected to slow chronic kidney disease progression in adults with type 1 diabetes, provides an important new treatment option for a population that has continued to face substantial unmet need.”
“Today’s approval in the U.S. marks an important advance for people living with chronic kidney disease associated with type 1 diabetes—a serious and often under-recognized condition. As the first new FDA-approved treatment option in more than 30 years for this patient population, Kerendia reflects Bayer’s commitment to addressing significant unmet needs and bringing meaningful new treatment options to patients,” said Christine Roth Executive Vice President, Global Product Strategy and Commercialization and Member of the Pharmaceuticals Leadership Team at Bayer.
In May 2026, the FDA granted Priority Review designation for Bayer’s supplemental New Drug Application for finerenone for the treatment of adult patients with CKD associated with T1D. The approval of finerenone by the FDA is based on the positive results of the Phase III FINE-ONE study, which were published in the New England Journal of Medicine in March 2026 and presented in November 2025 as “Featured High-Impact Clinical Trial” during the Opening Plenary session of the American Society of Nephrology’s (ASN) Kidney Week. These findings are supported by pooled analyses from the Phase III FIDELIO-DKD and FIGARO-DKD studies in CKD associated with type 2 diabetes (T2D), showing that more than 80% of finerenone's kidney benefit was explained by reductions in UACR.
In the U.S., Kerendia has been approved since 2021 for the treatment of adult patients with CKD associated with type 2 diabetes (T2D), since 2025 for the treatment of adult patients with symptomatic chronic heart failure with left ventricular ejection fraction (LVEF) ≥ 40%, and now for the treatment of adult patients with CKD associated with type 1 diabetes.
About Kerendia™ / Firialta™ (finerenone)
Kerendia™ and Firialta™ are globally protected trademarks for finerenone. Finerenone is a selective, non-steroidal mineralocorticoid receptor antagonist (nsMRA) that has been shown to block harmful effects of MR overactivation. MR overactivation contributes to chronic kidney disease (CKD) progression and cardiovascular damage which can be driven by metabolic, hemodynamic, or inflammatory and fibrotic factors.
Finerenone so far has been studied in more than 20,000 patients across multiple populations with chronic kidney disease and/or heart failure. Finerenone is the first drug targeting the MR pathway that in five pivotal Phase III studies has demonstrated clinically proven heart and/or kidney benefits across a broad range of patient populations, for patients with HF LVEF ≥40%, CKD associated with T2D, CKD associated with T1D, and CKD without diabetes.
Since 2021, finerenone is marketed as Kerendia™ or, in selected countries, as Firialta™, and approved for the treatment of adult patients with CKD associated with type 2 diabetes (T2D) in more than 100 countries worldwide, including in China, Europe, Japan, and the U.S. Finerenone is also approved for the treatment of heart failure with LVEF ≥ 40% in the U.S., Europe, Japan, China, and several other markets. Applications for marketing authorization of finerenone in non-diabetic CKD have been filed in China and Japan; so far, finerenone is not approved in non-diabetic CKD in any country worldwide. With the new approval by the FDA, the U.S. are the only country where Kerendia is approved for the treatment of adult patients with CKD associated with type 1 diabetes.
About FINE-ONE
In FINE-ONE, 242 participants were randomized from more than 80 sites across 9 countries worldwide to receive either finerenone or placebo once daily. In addition, patients in the study received usual therapy to treat symptoms and comorbidities.
FINE-ONE is a global, randomized, placebo-controlled, double-blind, multicenter Phase III study in people with CKD and T1D. In FINE-ONE, finerenone in addition to standard of care significantly reduced the primary endpoint of relative change in urine albumin-to-creatinine ratio, or UACR, by 25% over six months compared with placebo. At Month 3 and at Month 6, UACR reduction with finerenone was 22%, and 28%, respectively, compared to placebo. At any time following baseline, 68.1% of participants receiving finerenone achieved a reduction in UACR of at least 30%, compared with 46.6% receiving placebo. A reduction in UACR of 30% is a threshold established by the American Diabetes Association (ADA) as being associated with slower CKD progression in patients with CKD associated with type 2 diabetes. Reductions in UACR of this magnitude have been shown in prior Phase III studies in adults with CKD and T2D to be associated with a delay in kidney disease progression and a reduction in cardiovascular events. The safety profile of finerenone in FINE-ONE was largely consistent with the existing body of evidence in adults with chronic kidney disease associated with type 2 diabetes.
About Chronic Kidney Disease associated with Type 1 Diabetes
Type 1 Diabetes (T1D) is a chronic autoimmune disorder characterized by destruction of pancreatic beta cells leading to insulin deficiency and requiring lifelong insulin treatment. Among the US population overall, crude estimates for 2018 indicated that 1.4 million adults aged 20 years or older (or 5.2% of all US adults with diagnosed diabetes), reported both having T1D and using insulin.
CKD is a common and potentially deadly condition that is widely underrecognized. CKD progresses silently and unpredictably, with many symptoms not appearing until the disease is well-advanced. CKD is one of the most frequent complications arising from diabetes and is also an independent risk factor of cardiovascular disease. CKD affects approximately 30% of people with T1D. The 2017 global prevalence of CKD due to T1D was an estimated 32.5 per 100,000 individuals.
The clinical course of CKD in people with T1D is characterized by an increased urinary albumin excretion rate, which is a first sign of kidney damage and may progress to macroalbuminuria and decrease in kidney function as measured by estimated glomerular filtration rate (eGFR). The treatment of T1D consists of insulin treatment to control hyperglycemia. In people with T1D, blood glucose intervention targeting HbA1c levels ≤7% can slow onset and progression of kidney disease. Despite guideline-recommended treatment with ACEIs and ARBs, residual risk remains high in people with CKD and T1D, with up to a quarter progressing to end-stage-kidney-disease. CKD associated with T1D significantly increases the risk of kidney failure and cardiovascular events, contributing to CKD being a leading cause of death in T1D.
About Bayer’s Commitment in Cardiovascular, Kidney and Cerebrovascular Diseases
Bayer is a leader in the area of cardiology and is advancing a portfolio of innovative treatments for cardiovascular, kidney and cerebrovascular diseases with high unmet medical needs. The company has set a clear focus on developing therapies to treat such diseases (e.g., heart failure, cardiomyopathies, chronic kidney disease, and stroke), and it is its ambition to take a leading role in the care of patients with these diseases. Bayer’s portfolio already includes several innovative products and compounds in various stages of preclinical and clinical development. Together, these products reflect the company’s approach to research, which prioritizes targets and pathways with the potential to impact the way that cardiovascular, kidney, and cerebrovascular diseases are diagnosed and treated.
About Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. In line with its mission, “Health for all, Hunger for none,” the company’s products and services are designed to help people and the planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to driving sustainable development and generating a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2025, the Group employed around 88,000 people and had sales of 45.6 billion euros. R&D expenses amounted to 5.8 billion euros. For more information, go to www.bayer.com.
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Sep 17 · 06:30·Bayer