NewMed Energy said Sunday, “Furthermore, to the best of the Partnership’s [NewMed’s] knowledge, concurrently therewith, the said other two exporters also signed transmission agreements with INGL in respect of the share allocated to them in the project, thereby satisfying the conditions precedent that had been stipulated for the Transmission Agreement’s entry into force and effect”.
Indonesian state-owned oil and gas company PT Pertamina has signed a deal to acquire a 24.5 percent stake in the Bobara production sharing contract (PSC) off West Papua Province from Malaysian counterpart Petroliam Nasional Bhd (Petronas).
The Italian energy company’s balance sheet is benefiting from a cost-reduction program introduced earlier this year and asset sales aimed at bringing down debt, while a ramp-up of projects is bringing in more cash.
Located in Abu Dhabi and slated for completion in 2027, the project will integrate a 5.2-GW solar PV plant with a 19-GWh battery energy storage system (BESS) to deliver 1 GW of baseload renewable energy around the clock, avoiding an estimated 5.7 million tonnes per year of carbon dioxide emissions.
The bill for oil imports will rise if this happens. Russian crude—often sold at a discount to comparable grades—has come to account for a third of India’s total imports. Replacing this amount—over 1 million barrels daily—would likely push prices higher, adding to India’s total import bill. Crude oil imports account for 86% of domestic consumption.
A “wave” of new liquefied natural gas production capacity set to come on stream this year and in 2026 will transform the global market into one dictated by buyers, the head of the International Energy Agency, Fatih Birol, said today.
Petrofac Ltd said Thursday it was ending its “advanced stage” financial restructuring after TenneT dropped the British energy engineering company from multiple projects.
RBC Capital Markets LLC and Wells Fargo Securities LLC are underwriters in the placement. “The company expects to grant the underwriters a 30-day option to purchase up to an additional 348,666 shares of common stock from the company”, Sydney-based Tamboran said in a stock filing with the Australian Securities Exchange (ASX).
German Chancellor Friedrich Merz said he’s optimistic that the US will exempt Rosneft PJSC’s German unit from Washington’s latest sanctions against Russia.
Saipem SpA has reported EUR 221 million ($256.45 million) in net income and adjusted net income for the first three quarters, up 7.3 percent from the same nine-month period last year.