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Energy Industry News
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Why Chord Energy is selling 32,000 Marcellus acres to POSCO for $550m
Chord Energy Corporation is selling its entire non-operated Marcellus position to POSCO International Corporation for $550 million, leaving the producer focused exclusively on the Williston Basin.
DNO revises $396m Capricorn Energy takeover as Egypt expansion moves closer
DNO ASA has converted its $396 million Capricorn Energy acquisition into a full $5.214-per-share cash offer, removing the special-dividend structure and increasing certainty for shareholders.
Holtec Nuclear suspends $900m IPO as nuclear stock enthusiasm cools
Holtec Nuclear has postponed an initial public offering that could have secured as much as $900 million after weaker market conditions disrupted plans to price 50 million shares this week.
JERA turns its giant LNG buying portfolio toward overseas sales as Japan demand becomes harder to predict
JERA expects to increase liquefied natural gas sales outside Japan over the next two years as its new Singapore-based global energy unit turns one of the world’s largest LNG procurement portfolios into a broader Asian trading and supply platform.
ExxonMobil weighs Venezuela return nearly 20 years after nationalisation dispute
ExxonMobil is in discussions over a potential return to Venezuela’s Orinoco Belt, Reuters reported citing people familiar with the matter, including possible involvement in the Petromonagas project from which its predecessor asset was nationalised nearly two decades ago.
Amazon’s $2.4bn Generac deal turns backup generators into an AI infrastructure story
Generac has disclosed a long-term agreement to supply Amazon data centres with $2.4 billion of backup generators during 2027 and 2028, while equity warrants tied to as much as $8 billion of purchases reveal how artificial-intelligence infrastructure is changing the company’s growth profile.
Hitachi Energy commits $528m to US transformer factory as grid bottlenecks intensify
Hitachi Energy will invest $528 million in a new Mississippi transformer factory, its largest single US manufacturing investment, as electricity demand from data centres, advanced manufacturing and electrification increases pressure on already constrained grid equipment supply.
Plains All American expands Rockies network with $585m Silver Creek acquisition
Plains All American is buying Silver Creek’s Powder River pipeline network for $585 million, adding 600 miles of pipelines and long-term contracts.
Essar doubles UK forecourt network with SGN Retail deal as Stanlow integration deepens
Essar is acquiring SGN Retail’s 118-site UK forecourt network, doubling its retail footprint and strengthening direct links with the Stanlow refinery.
Carlyle backs C$1bn Parallax deal to build larger Canadian oil platform
Carlyle-backed Avenrock is acquiring Parallax Energy in a reported C$1 billion deal, expanding its Western Canadian light oil strategy.