Shell had earlier this month said its oil output peaked in 2019 as it undertakes its largest overhaul yet to expand renewables and low-carbon businesses under growing investor pressure to battle climate change. The...
Energy
Canada’s Arc Resources agrees to buy Seven Generations for $2.2 billion
Canada’s ARC Resources Ltd on Wednesday agreed to buy Seven Generations Energy Ltd for C$2.7 billion ($2.2 billion) in an all-stock deal to create the country’s sixth-largest energy company, as oil producers strive to...
Equinor sells U.S. Bakken shale assets, posts record loss for 2020
Norway’s Equinor has agreed to sell its assets in the U.S. Bakken shale oil province after a decade of multibillion-dollar losses and criticism for poor investment decisions. Equinor will sell the assets in the states...
EnQuest to buy Suncor assets for $325 million with refinanced debt
Oil producer EnQuest agreed to buy Suncor’s 27% stake in the Golden Eagle fields for $325 million, roughly equivalent to its market capitalisation, on the back of a planned debt refinancing and equity raise, it said on...
Marubeni to hasten planned sale of stakes in coal-fired power plants: CFO
Japanese trading house Marubeni plans to hasten the planned sale of its stakes in coal-fired power plants worldwide to reflect a growing global move toward decarbonisation, its Chief Financial Officer (CFO) Takayuki...
Shareholder in Russia’s Inter RAO pushes for acquisition of Uniper, Fortum assets
Russia’s Inter RAO could boost its profits by buying Russian fossil fuel assets from Germany’s Uniper and Finland’s Fortum, a shareholder in the Moscow-listed company said on Friday. The remarks come a week after Uniper...
HitecVision announces exclusive talks to buy Exxon’s UK assets
Private equity fund HitecVision and its British unit Neo have entered exclusive negotiations to buy Exxon’s upstream assets in the central and northern North Sea, Hitec said on Thursday. Bids for ExxonMobil’s British...
CVR Energy says not interested in buying Delek, proposes to replace board nominees
U.S. refiner CVR Energy Inc, majority-owned by billionaire-investor Carl Icahn, said on Thursday it was not interested in buying peer Delek US Holdings Inc and proposed to replace three Delek board nominees with its own...
Orix to Buy Spanish Energy Firm Elawan for About $965 Million
Orix Corp. agreed to buy Spain’s Elawan Energy, the Japanese financial conglomerate’s first deal to acquire a majority stake in an overseas renewable power company. Tokyo-based Orix is purchasing an 80% stake from...
Tokyo Gas to invest $193 million in UK retail energy firm Octopus Energy
Tokyo Gas said on Wednesday it would invest about 20 billion yen ($193 million) in British retail energy firm Octopus Energy and that they would form a joint venture in Japan to supply power to retail customers. By...
Siemens Energy has no plans to sell Siemens Gamesa -Handelsblatt
Siemens Energy has no plans to sell all or parts of Siemens Gamesa, CEO Christian Bruch told German business newspaper Handelsblatt, following earlier reports it had received approaches for the wind turbine business...
National Investment and Infra Fund emerges top bidder for Mahindra Susten’s solar assets
The National Investment and Infrastructure Fund (NIIF) is the frontrunner to acquire about 617 megawatts (MW) worth assets of Mahindra Susten, the solar energy EPC platform owned by the Mahindra group, outbidding global...
