Draft document reveals EU plans to boost investment in energy infrastructure
A draft document seen by?by revealed that the European Union, and its lending arm European?Investment?Bank, are developing a new suite of?funding mechanisms to support energy infrastructure investment. Plans are being developed to help reduce the cost of energy for European households and industries…
ARKO Petroleum raises 200 million dollars in an upsized US IPO
Fuel distributor ARKO Petroleum has priced its "upsized" U.S. IPO at the lower end of its range. This raised a little over $200 million. The company based in?Richmond?Virginia sold 11,11 million shares on Wednesday at $18 each, as opposed to its advertised range of $18-$20. ARKO Petroleum was valued at $819 million in the IPO.
Executives warn that Europe could lose its nascent green hydrogen industry to China
The fledgling green hydrogen industry in Europe is calling on the EU to introduce "made-in-Europe" requirements for spending public money on the sector. They warn that without the support needed to scale up quickly, the domestic producers will be overtaken by their Chinese competitors. In 2025…
Sources say China will offer LNG futures by next month.
People with knowledge of the matter said that China will offer domestically listed, yuan denominated liquefied gas (LNG), futures contracts by the end of next month. This would reduce importers' reliance on the West to hedge against price movements. A person who declined to be named as they weren't authorised to talk to the media said that the?derivative?
Engie continues to invest in Middle East renewables, as the momentum in US and Europe slows
Engie has reached the 'financial close on a 1.5 Gigawatt solar park, its largest in the world, said the French utility on Monday. The company is stepping up projects in the Middle East, a fast-growing market, amid a slowdown of renewable energy in the U.S. The Khazna Park is set to start commercial operations in the year 2028.
Masdar and Engie, both from the UAE, reach financial closure on the 1.5 GW Khazna Solar Project
Masdar, a UAE-based company, and Engie, a French company have completed a 1.5-gigawatt project in Abu Dhabi. They secured financing from seven banks including the?Abu Dhabi Islamic Bank? and?Credit Agricole Corporate? and?Investment Bank?. According to the companies, this group includes KfW IPEX as well as BNP Paribas and HSBC.
Oil Prices Dip as Investors Consider Iran Supply Concerns, Venezuelan Exports
Oil prices fell slightly on Monday after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply, while investors also weighed efforts to resume oil exports from Venezuela.Brent crude futures lost 28 cents, or 0.44%, to $63.06 a barrel by 1402 GMT while U.S.
EDF Considers Selling US Renewable Unit to Focus on French Nuclear
French state-owned utility EDF is considering selling all of its U.S. renewable energy business, its CEO said on Wednesday, as the company focuses on building up its domestic nuclear operations and U.S. support for wind and solar has been rolled back.Bernard Fontana said the company was considering selling "between 50% and 100%" of its U.S.
EDF considers selling the US renewable unit in full to concentrate on French nuclear
EDF, the French state-owned utility, is looking at selling all of its U.S. Renewable Energy business, according to its CEO on Wednesday. The company has a focus on developing its nuclear operations in France, while U.S. wind and solar support has been reduced. Bernard Fontana, who spoke on the sidelines at the Adopt AI Conference in Paris…
JPMorgan selects Perpetua Resources as the first investment in its $1.5 trillion security funds
Perpetua Resources, an antimony and gold mining company, is the first investment made by JPMorgan Chase’s $1.5 trillion fund to support U.S. National Security. This underscores the company’s important role in producing the metal that China has banned and is used for bullets and weapons. JPMorgan…
EBRD may lend up to $1,5 billion for Central Asia Hydro Plant
The European Bank for Reconstruction and Development (EBRD) could lend up $1.5 billion for an Central Asian hydropower station, according to its president. He also noted that the demand for renewable energy is increasing despite some resistance to funding green energies. Kambar-Ata 1 is one of Central Asia's largest renewable energy projects…
India's EAAA Alternatives will invest up to 400 billion rupees over the next five years in clean energy
A top executive at Indian money manager EAAA Alternatives said that the company is looking to invest around 400 billion rupees over the next 4 to 5 years in India's clean-energy sector, targeting around 8 gigawatts through its funds. EAAA Alternatives received a commitment of $60 million…
Australia's Santos Chief executive bets on cash-flow boost as third bidder walks away
Kevin Gallagher, Santos' boss, said on Friday that he does not plan to retire. He expects the company to see a dramatic increase in cash flow over the next few decades. This comes after the third takeover bidder in seven years backed out of a deal. A consortium led by Abu Dhabi National Oil Company…
Santos stock slides as $18.7 billion ADNOC-led deal collapses
Santos, the Australian gas producer, saw its shares fall as much as 13.6 percent on Thursday. A consortium led by Abu Dhabi-based ADNOC canceled their $18,7 billion offer for the company after commercial terms were not agreed. Santos announced in a press release issued early Thursday morning…
Santos said it was prepared to approve an ADNOC bid of $18,7 billion before the deal collapsed
Santos, the Australian gas producer, said that it would be willing to accept the ADNOC consortium's bid of $18,7 billion for the company if the international group did not withdraw the offer because commercial terms could no longer be agreed. Santos, in a Thursday morning statement, said…
Sources say that Raisa Energy is selling US oil and gas assets worth $1.5 billion, according to sources.
People familiar with the matter say that Raisa Energy, a private investment firm, is selling an oil and gas package across several U.S. Shale basins. The package could fetch up to $1.5 billion. These sources, who asked not to be identified because the process was confidential, said that the…
Burundi completes the first phase of a $320 million power project
According to a press release, Burundi commissioned on Wednesday the first phase of an $320 million hydropower plant financed by the European Investment Bank (EIB), the African Development Bank (ADB) and the World Bank. According to the African Development Bank, only 6% of Central Africa's 13 million people have access to electricity.
Azerbaijan calls on EU to reconsider finance restrictions for gas corridor expansion
Ilham Aliyev, the President of Azerbaijan said that the European Union needs to reassess their financing and policies regarding long-term contracts in order to continue importing natural gases from Azerbaijan. Baku could also look for other export markets. He cited the European Investment…
ConocoPhillips is looking to sell assets in Oklahoma worth more than $1 billion, according to sources
People familiar with the situation said that ConocoPhillips has begun exploring the possibility of selling oil and gas assets it acquired from Marathon Oil when it bought the company for $22.5 billion last year. Sources said that the energy producer hired Moelis & Co as an investment bank to manage the sale of the assets.
Moroccan utility ONEE awarded $340 million for energy transition
The European Investment Bank and the German state lender KfW have granted ONEE, the Moroccan water and electricity utility, a loan of 300 million euros ($340 millions) to support the integration of renewable energies into the national grid. The package includes 170 million Euros from the EIB, and 130 Million Euros from KfW.