“This step represents another example of the development of Eni’s satellite model strategy, aiming at attracting strategically aligned capital from valuable new partners at attractive terms, confirming the value Eni is creating in its new energy transition-related businesses and funding their further growth.
The fire occurred while the platform was undergoing scheduled maintenance. A total of 17 people were injured. Authorities are working to recover a body spotted underwater near the platform, according to the ministry.
It was these nations that shattered market expectations on April 3, when they announced their first super-sized hike — triple the volume originally scheduled. The shock move, unveiled just hours after President Donald Trump launched a global trade war, helped send crude futures to a four-year low below $60 a barrel in the ensuing days, marking a rupture with years of efforts by the coalition to try to shore up prices.
The initial 2MW installation is set for November 2025. The facility is located near a natural gas fuel conditioning plant that converts gas into LPG for the Asia Pacific region. The project will use some natural gas from this process for the Capstone microturbines, exporting generated power to the local grid to meet the community’s current demand of 2MW. As more residents and businesses connect, capacity is expected to increase to 5MW, Capstone said.
Ecopetrol is racing to develop new gas sources as the nation’s dwindling reserves force increased imports to supply homes and factories. President Gustavo Petro’s administration has halted new exploration contracts since taking office in 2022, which means drillers must squeeze value from existing assets.
Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) climbed 800,000 barrels to 401.3 million barrels in the week ending May 23. Inventory levels in the SPR are hundreds of millions shy of the levels in inventory prior to the SPR withdrawal that took place under the Biden Administration, but SPR replenishment is picking up steam in recent weeks.
In exchange, Tehran is seeking formal U.S. recognition of its right to enrich uranium for civilian purposes under the Non-Proliferation Treaty (NPT) and the release of billions in Iranian assets currently frozen abroad.
Late last year, the Texas oil giant stress-tested its business at “more punitive scenarios” than the current environment and brought the results to the board, Woods said at Exxon’s annual meeting Wednesday. The result is that the company will continue investing in new projects and returning cash to shareholders even if oil declines from the current $65 a barrel.
Under the agreement, initially announced on April 22, 2025, Golden Ocean will merge into CMB.TECH Bermuda, a wholly-owned CMB.TECH subsidiary, with Golden Ocean shareholders receiving 0.95 CMB.TECH shares for each Golden Ocean share. Upon completion, CMB.TECH will issue approximately 95 million new shares and, following the transaction, CMB.TECH shareholders will own around 70% of the combined company.
According to Eni, this step represents another example of the development of its satellite model strategy, aiming at attracting strategically aligned capital from valuable new partners at attractive terms, confirming the value in its energy transition-related businesses and funding further growth.