The return of meat on the menu is a feature of MORNING BID, EUROPE
Gregor Stuart Hunter gives us a look at what the future holds for European and global markets. Investors may feel tender this morning, after a brutal after-hours session that smashed tech megacaps as well as high-flying meme stocks. Beyond Meat's shares fell 11.4% after-hours, as the company that was heavily shorted for its fake meat reversed direction after retail investors flocked to the stock.
JERA, Japan's largest power generator, will buy US shale-gas assets for $1.5billion
JERA, Japan's largest power generator, announced on Thursday that it would acquire natural gas assets in the United States. This will be its first venture into shale-gas production. JERA announced that it had reached an agreement with Williams and GEP Haynesville II, pipeline operators in the Haynesville Shale Basin in western Louisiana. The agreement…
Trump's energy pivot accelerates US mergers and asset sales of solar, wind power
Analysts and industry insiders say that the Trump administration's retreat from renewables has prompted consolidations and asset sales by smaller U.S. wind and solar power companies, as they struggle to stay afloat. The One Big Beautiful Bill Act of President Donald Trump (OBBBA), which focuses on coal, oil, and gas, has drastically shortened the eligibility window for solar and wind energy projects.
Sempra Sells 45% Stake in Infrastructure Unit, Approves Port Arthur LNG Expansion
Sempra said on Tuesday it would sell a 45% stake in its infrastructure unit for $10 billion, and has approved a $14 billion expansion of Port Arthur LNG project in Texas, sending the utility's shares to their highest in nearly seven months.The stake sale to KKR, along with Canada Pension Plan Investment Board, implies an equity value of $22.2 billion for Sempra Infrastructure Partners…
JERA in Talks to Buy $1.7b of US Natural Gas Assets
Japan's top power generator JERA is in advanced talks to buy natural gas production assets in the U.S. for around $1.7 billion, people familiar with the matter said, the latest example of the Asian nation investing in America's energy sector.JERA emerged as the top bidder for the assets owned by GEP Haynesville II, a joint venture between Blackstone-backed GeoSouthern Energy and pipeline operator Williams Companies…
Private equity deals in Japan are set to reach a record-breaking year.
Private equity funds and advisors predict that take-private deals will reach a new record in Japan this year. They expect the total to surpass the $40.3 billion in 2023. This is because companies are under pressure to increase returns for investors. Private equity was once seen as a threat by Japanese companies, who referred to it as "hagetaka", which means vultures.
Blackstone's COO: Blackstone will invest $25 billion in Pennsylvania data centres and natural gas plants
Gray, Blackstone's President and Chief Operation Officer, said that the company plans to invest $25 Billion in data centers and power plants throughout Pennsylvania. Gray spoke at a Tuesday panel discussion at the Energy and Innovation Summit held in Pittsburgh. Gray stated that Blackstone has identified several locations to build these energy-intensive data centers.
Abu Dhabi's XRG aims to reach a gas and LNG capacity of between 20-25 million tonnes per year by 2035
XRG is the international investment arm for Abu Dhabi National Oil Company. The company stated in a Tuesday statement that it aims to have a business of gas and LNG with a production capacity between 20 and 25 million metric tonnes per year by 2035. XRG, a company that invests in lower-carbon energy sources, gases and chemicals with assets exceeding $80 billion, was established last year.
XRG Aims For Gas and LNG Capacity of 20-25 Million Tons a Year by 2035
XRG, the international investment arm of Abu Dhabi National Oil Company (ADNOC), is aiming to have a gas and LNG business with a capacity of between 20 million and 25 million metric tons a year by 2035, the company said in a statement on Tuesday.XRG was set up last year as an investment company focused on lower-carbon energy, gas and chemicals…
XRG aims to achieve a gas and LNG capacity of 20-25 millions tons per annum by 2035
XRG (the international investment arm) of Abu Dhabi National Oil Company said on Tuesday that it aims to be a gas and Liquefied Natural Gas business with a capacity between 20 and 25 millions metric tons annually by 2035. XRG, which is led by former BP CEO Bernard Looney, and Blackstone's Jon Gray approved a business plan for five years that aims to build an integrated LNG and gas business…
The first-quarter profits of investment giant KKR have risen on the back of fee growth
KKR announced a near 20% increase in its first-quarter profits on Thursday. This was boosted by the higher transaction and management fees that it received from its portfolio. The results show the structural advantage of large alternative asset managers who can generate hundreds and millions in management fees, even when asset sales remain muted.
EQT will buy Olympus Energy’s midstream and upstream assets from Olympus Energy for $1.8 billion
EQT announced on Tuesday that it will buy Olympus' upstream and middlestream assets for $1.8 billion, in a cash and stock deal. Profits also exceeded expectations in the first quarter, thanks to higher natural gas prices as well as increased sales volumes. The company will fund the deal with its cash and borrowings from its revolving loan facility and 26 million shares of EQT stock, valued at $1.3 billion.
EQT's profit for the fourth quarter beats estimates due to higher natural gas prices and sales
EQT's fourth-quarter profit exceeded analysts' estimates on Tuesday as the natural gas company benefited from increased prices and sales. The natural gas price rose during the first quarter of this year, reaching a peak that has not been seen in two years. This was due to an increase in gas flow to export plants for liquefied gas. Prices were also boosted by the forecast of more cold weather for January…
Financial Times – February 12,
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. BP told 39,000 employees their cash bonus would be only 45% of the target amount after a poor year in financial and operational performance. Gavin Isaacs, the chief executive officer of Ladbrokes' owner Entain has resigned after only five months.
Blackstone buys $1 billion Virginia power station near data centers
Blackstone's unit dedicated to energy investments has acquired Potomac Energy Center. The asset manager announced the deal on Thursday. It is a sign of the appeal of data centers located near power plants to investors. Blackstone Energy Transition Partners, according to an official statement, has agreed to purchase the 774 megawatt natural gas-fired plant in Loudoun County of northern Virginia.
Blackstone buys $1 billion Virginia power station near data centers
Blackstone's unit dedicated to energy investments has acquired Potomac Energy Center. The asset manager announced the deal on Thursday. This is a sign of the appeal of data centers located near power plants to investors. Blackstone Energy Transition Partners, according to an official statement, has agreed to purchase the 774 megawatt natural gas-fired plant in Loudoun County of northern Virginia.
Arcius Energy, a joint venture between BP and ADNOC’s XRG, will supply Egypt's gas.
BP and Abu Dhabi National Oil Company’s international investment arm XRG announced on Monday that they had closed a deal to create a natural gas joint-venture in Egypt. ADNOC is expanding its efforts abroad. Arcius Energy is a joint venture owned by BP (51%), and XRG (49%). The joint venture will initially operate in Egypt. Naser Saif Al Yafei is a former ADNOC executive who was appointed as Arcius CEO.
Blackstone buys pipeline stakes in EQT from EQT at $3.5 billion
Blackstone, an alternative asset manager, said Monday it would purchase minority stakes in certain of EQT's pipelines through a joint-venture for $3.5 billion. The sale will help EQT reduce its debt after it purchased Equitrans Midstream for $14 billion in July. In premarket trading, shares of EQT rose by 3.9%. Blackstone and EQT will form a joint venture worth about $8.8 Billion.
Price Drop Triggers Haggling Over Oil and Gas Deals
The collapse in oil prices to 21-year lows has led potential buyers of oil and gas fields to try and renegotiate deals already agreed at higher prices, with the first examples emerging of sellers having their hand forced.At a time when most oil companies are slashing budgets, dividends, and headcounts to preserve cash, sellers are facing a difficult…
Coronavirus Paralyzes Oil, Gas Sales into China
Short-term sales of crude oil and liquefied natural gas into China almost ground to a halt this week as the coronavirus slows economic activity and cuts demand and buyers ponder legal action to avoid having to honor purchase agreements, trade sources said.Typically, trade would have revived after the Lunar New Year holiday at the end of January…