Octopus Energy, a British company, has bought a stake in the East Anglia One windfarm
Octopus Energy, a British company, announced on Thursday that its Octopus Energy Generation division had purchased a 10% share in the East Anglia One Wind Farm, which is one of the largest operating wind farms in the world, supplying electricity to around 700,000 households a year. The unit's fourth investment in an offshore wind farm in Britain and seventh in Europe, the financial terms of the deal were not disclosed.
Mitsubishi to invest $27 billion in the next three years to drive growth
Mitsubishi Corp, a Japanese trading company, said it would invest 4 trillion yen (about 27 billion dollars) in the next three financial years to boost growth. It also aims to increase its net profit from 1.2 trillion to 1.2 trillion by 2027/28. Mitsubishi announced its new management strategy for the next three years, starting this month. It also stated that it would continue its basic policy…
GE Vernova will supply turbines for a planned natgas plant in Pennsylvania by 2026
GE Vernova is helping to transform Homer City Generating Station, a coal-powered power plant in Pennsylvania, into a campus of natural gas powered data centers by providing seven turbines that will produce almost 4.5 gigawatts. The project should begin generating power in 2027. It will be the largest natural-gas power plant in the U.S. once it is completed.
Petrobras executive: 'The new discoveries of Petrobras are significant'
Sylvia dos Anjos, exploration and production director at Petrobras, said that the discoveries made this year by the Brazilian state-owned oil company Petrobras in the Campos Basin and Santos Field and the Buzios Field are "significant". Petrobras reported hydrocarbon discoveries at the Aram Block, located in Santos Basin, at the Norte de Brava Block in Campos Basin, and in a well in the western area of the Buzios Field.
Japan's Terra Drone will boost collaboration with Saudi Aramco in inspections
Terra Drone, a Japanese startup that uses drones to inspect and survey energy infrastructure, has announced it is increasing its cooperation with Saudi Arabian state-owned Aramco in order to inspect oil and natural gas facilities. Terra Drone, a Japanese company, has signed an agreement with Aramco that will allow it to test its drones in Saudi Arabia. This is expected to begin later this year or early next.
Trump tariffs stymie M&As and IPOs during what was expected to be a record-breaking quarter
The global trade war started by U.S. president Donald Trump, and the subsequent market turmoil, has shattered bankers' expectations for a strong start to Wall Street deals in 2018. Dealogic data for the first quarter showed that mergers and purchases volume increased 12.6% from the year-ago period to $984.38 Billion. The Asia Pacific region was largely responsible for this…
M&A revenues fall as Trump pursues his tariffs. Global deal activity is disappointing
The global trade war started by U.S. president Donald Trump, and the subsequent market turmoil, has shattered bankers' expectations for a strong start to Wall Street deals in 2018. Dealogic data for the first quarter showed that mergers and purchases volume increased 12.6% from the year-ago period to $984.38 Billion. The Asia Pacific region was largely responsible for this…
The LAPFF in Britain recommends voting against BP Chairman, annual report
The Local Authority Pension Fund Forum in Britain (LAPFF), recommended to shareholders on Monday, that they vote against the reelection of BP Chairman Helge Lund and BP's Annual Report, remuneration reports, as well as abstaining on whether BP Chief Executive Murray Auchincloss is reelected. Institutional Shareholder Services Inc. (ISS) as well as Glass Lewis…
Wood Group UK flags problems within its Projects Unit, Shares Slump
Wood Group, a British engineering and oilfield services company, said that it has identified "material failures and weaknesses" in its financial cultures within its Projects Business Unit following an independent Deloitte review. Early trade saw shares of the company fall about 25%. They have fallen about 68% since November's announcement. In November of last year…
Tokyo Gas expects its net profit to double in FY26
Tokyo Gas, Japan's largest city gas provider, said that it aims to double its net profits in 2026 and has plans to expand into the United States. The plan was released in a mid-term management report on Wednesday. The company expects its net profit to increase to 131 billion Japanese yen ($871million) for the fiscal year 2025-26, which starts on April 1. This is up from 72 billion yen in the current year that ended this March.
European investors warn that the clock is ticking on AI adoption
European companies who are investing heavily in generative artificial intelligence must start showing results by the end of next year or investors will lose patience. AI-exposed shares have been downdrafted with the broader equity market in recent weeks, as fears of recession rise. This has added to the pressure on the sector, which was already under…
Rapid7 adds 3 new directors to its board of directors as part of a settlement with Jana Partners
Rapid7, a cybersecurity company, announced on Monday that it had reached an agreement with activist investors Jana Partners for three new board members to be added to its team. One of these directors is a partner in the hedge fund. Wael Mohammed, Mike Burns, and Kevin Galligan were named as the new directors of a Boston-based firm. The board has eight members.
Sinopec will prioritise risk management in its Russian oil purchases.
Sinopec Corp, the top Chinese refinery, will prioritize "risk management" when purchasing Russian oil. The quality of Russian oil is comparable to that of competing global supplies and its price is similar, according to a senior executive. These remarks follow a recent decision by China's oil importers, including Sinopec, who have resisted buying Russian oil this month while companies assess compliance after recent U.S.
Sources say that Elliott met with BP investors in order to discuss further changes.
Two shareholders have confirmed that Elliott Management, an activist investor in BP, has met with several of the company's largest shareholders to form a consensus on more changes. These could include cost reductions and a possible leadership reshuffle. BP's stock has performed worse than rivals Shell, Exxon and Shell in the past five years. Investors…
Follow This, a BP activist investor, urges voting against Chair Lund on energy transition
BP activist investor Follow This intends to ask shareholders at the 17th April shareholder meeting to vote against Helge Lund being reappointed, claiming he had a duty to give investors a voice on the scrapping of energy transition targets. In a February strategy overhaul, CEO Murray Auchincloss announced that BP would cut spending on renewables while increasing investment in oil and natural gas.
Dutch Firms Cement Offshore Wind Collaboration
Offshore engineering specialist Enersea and EPCI management expert IX Renewables have signed a memorandum of understanding (MoU) to enhance collaboration in the offshore wind sector.IX Renewables specializes in EPCI management, offering technical, commercial, and legal expertise for offshore wind developments. Enersea brings deep technical knowledge in offshore wind engineering…
Partners Group buys California energy assets worth $2.2 billion
The companies announced on Tuesday that Swiss private equity firm Partners Group would purchase an energy asset-management platform in California and certain gas-fired electricity plants from U.S. based Avenue Capital Group, for $2.2 billion. The U.S. In 2025 and 2026, the demand for electricity will increase due to data centers devoted to artificial intelligence (AI) and cryptocurrency.
Investor leading climate talks with Equinor says it's time to sell out
One of the asset management companies that is co-leading the climate talks with Equinor, on behalf of over 600 investors, has said that it sold its shares because the board of the oil giant failed to align their strategy with the global goal of limiting the effects of global warming. Sarasin & Partners, a British firm, helped to lead discussions with Equinor as part of Climate Action 100+…
Putin's decree authorizes US hedge funds to purchase foreign-owned Russian securities
A presidential decree published on Monday showed that Russian President Vladimir Putin had given permission to a U.S.-based hedge fund to purchase securities in Russian firms from certain foreign investors and to sell them to two Russian funds. Since the beginning of the Ukraine conflict, Moscow has tightened its restrictions on the sale of foreign assets. Any transactions in the energy or finance sector require Putin's approval.
Chevron says it's confident about merger after buying 5% of Hess shares
Chevron said it had bought 4.99% of Hess Corp common shares in this year. This shows its confidence that the planned acquisition will be completed, according to a filing made by the oil giant on Monday. In October 2023, the second largest U.S. oil company agreed to purchase Hess for $53 billion in an all stock deal to acquire a key stake in Guyana’s oil-rich Stabroek Block. Exxon Mobil, Hess’ partners in Guyana and the U.S.
