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Energy Industry News
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Hungary nuclear plant nears shutdown as Danube drought triggers regional energy emergency
Hungary’s only nuclear plant is near shutdown as record-low Danube levels deepen an energy crisis across southeastern Europe.
Kosmos Energy cuts net debt by $419m as LNG and Jubilee output rise
Kosmos Energy lifted production and cut net debt, but equity issuance, asset sales and expensive refinancing drove part of the improvement.
ExxonMobil (NYSE: XOM) Q2 2026 profit hits $14.5bn as Permian and Guyana lift upstream
ExxonMobil's Q2 profit hit $14.5B, its biggest in four years, but $3.52 EPS missed the $3.63 consensus as Middle East reserves capped a record cash quarter.
Inside the $1bn bet on Base Core: America’s biggest home battery hits the market
Base Power raised $1B at a $13B valuation and launched its 39.2 kWh Core home battery as JPMorgan and CapitalG join the cap table hunting US grid capacity.
National Grid cuts executive committee to eight as £70bn investment plan enters execution phase
National Grid plc is replacing its business-unit-heavy leadership structure with UK and United States presidents, supported by dedicated capital delivery and technology functions. The simpler model could accelerate decision-making across its record investment programme, but the company has not disclosed immediate savings or restructuring targets.
SOCAR buys ITOCHU’s 3.65% stake in Azerbaijan’s Azeri-Chirag-Gunashli field
SOCAR bought ITOCHU's 3.65% stake in Azerbaijan's Azeri-Chirag-Gunashli oil field on 3 August, one plank of a wider ITOCHU pivot to buybacks and aviation.
Enbridge (ENB) sanctions 2.6 Bcf/d Bay Runner Twin to feed Rio Grande LNG expansion
Enbridge and its Whistler Joint Venture partners have approved a second major natural gas route from Agua Dulce to Rio Grande LNG. Long-term take-or-pay agreements protect the 2.6 Bcf/d project from direct commodity exposure, but construction delivery, LNG commissioning and Enbridge’s expanding capital backlog remain critical tests.
KKR is buying into TotalEnergies’ renewables, but the €1.8bn figure hides a crucial detail
An insurance account managed by KKR will acquire half of a 1.2GW wind and solar portfolio across Germany, Spain, France and Poland, while TotalEnergies retains operational control and electricity marketing responsibilities.
Brussels clears PSPIB and JERA Nex bp joint control of Taiwan’s Formosa 2
The EU cleared PSPIB and JERA Nex bp's joint control of Taiwan's 376MW Formosa 2 wind farm on 3 August, a capital-recycling signal one day before BP's Q2 results.
Adani Power’s nuclear strategy moves to Madhya Pradesh as private-sector rules take shape
Adani Power is examining two land-rich locations in Madhya Pradesh as potential nuclear power sites, but no project, reactor technology, investment budget or construction schedule has yet been finalised.