Eni, one of Italy's biggest energy companies, will transfer its U.K. business in exchange for 38.5% of Ithaca's share capital, while the existing Ithaca Energy shareholders will own the remaining 61.5% of the combined group.
TotalEnergies is acquiring the remaining 50% interest of upstream gas operator SapuraOMV, bringing the French company's tab to more than $1.4 billion.
Marsa LNG is expected to start production by first quarter 2028 with TotalEnergies holding 80% interest in the project and Oman National Oil Co. holding 20%.
Portuguese oil company Galp Energia has launched the sale of half of its stake in an exploration block offshore Namibia.
The Balticconnector subsea gas link between Estonia and Finland was severely damaged in October, hurting energy security and raising alarm bells in the wider region.
Replacing just 5% of coal-fired power plants with U.S. LNG — even at average methane and greenhouse-gas emissions intensity — could reduce energy sector emissions by 30% globally, says Chris Treanor, PAGE Coalition executive director.
Here is a look at some of this week’s renewable energy news, including the latest on global solar sector funding and M&A.
Scotland was constrained by cuts to the capital funding it receives from the British government and an overall weakening of climate ambition by British Prime Minister Rishi Sunak, said Mairi McAllan, the net zero secretary for Scotland's devolved government.
Equinor said the maximum shares to be repurchased is 16.8 million, of which up to 7.4 million shares can be acquired until May 15 and up to 9.4 million shares until Jan. 15, 2025 — the program’s end date.
Tethys Oil said the official selling price of its Oman Export Blend oil was $78.75/bbl.