Kenya’s President William Ruto has ordered the termination of major contracts with the Indian conglomerate Adani Group, citing concerns over ethical governance following the indictment of Gautam Adani in the United States. The canceled agreements include a high-profile airport development project and a significant energy infrastructure deal, both of which had been positioned as transformative […]
In a bold move set to reshape the global energy landscape, OMS Energy Technologies has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission. The company, renowned for its manufacturing of surface wellhead systems and oil country tubular goods, is incorporated in the Cayman Islands. Strategic positioning in the energy […]
State-owned power company NTPC has greenlit a massive Rs 20,922 crore investment in two key power projects while moving forward with an IPO launch for its renewable arm. The dual developments have raised questions for investors: buy, sell, or hold?
Saipem, a leading engineering and construction company, has been awarded a substantial offshore Engineering, Procurement, and Construction (EPC) contract by QatarEnergy LNG, valued at approximately 4 billion USD. The contract is for the Combined COMP3A & COMP3B of the North Field Production Sustainability Offshore Compression Programme, aimed at sustaining the production capacity of the North […]
Investment bank Jefferies Financial Group has raised its target price for Mahanagar Gas Limited, forecasting a significant 17% upside potential for the stock. The revised target price reflects Jefferies’ confidence in the natural gas distributor’s strategic initiatives, recent acquisitions, and overall market performance, which have made Mahanagar Gas a prominent player to watch in India’s […]
SBM Offshore, a global leader in floating production solutions for the oil and gas industry, has signed Share Purchase Agreements with Malaysian energy giant MISC Berhad. These agreements pertain to the sale of SBM Offshore’s equity interests in certain floating production storage and offloading (FPSO) units. The transaction signifies a significant step in SBM Offshore’s […]
SK Earthon, a subsidiary of South Korea’s SK Innovation, has successfully secured the operatorship of the Ketapu Cluster, located off the coast of Sarawak, Malaysia. This development marks a significant milestone for the company as it strengthens its presence in Southeast Asia’s oil and gas sector. The announcement was made on SK Innovation’s official website, […]
Shares of Coal India Limited (CIL), the state-owned coal mining company, fell by 4% on Wednesday, hitting a low of ₹500.70 on the Bombay Stock Exchange (BSE) after the company reported a significant drop in sales volume for August 2024. The decline follows a report that the company’s sales volumes for August totaled 52.1 million […]
Hibiscus Petroleum Berhad, through its indirect wholly-owned subsidiary Straits Hibiscus Sdn Bhd, has entered into an agreement to acquire a 30% Participating Interest in the Block PM327 Production Sharing Contract from PETRONAS Carigali Sdn Bhd. This strategic farm-in arrangement, which is currently awaiting regulatory approvals, marks a significant step for Hibiscus Petroleum in expanding its […]
Eni, the Italian multinational oil and gas giant, has officially concluded the sale of its Nigerian subsidiary, Nigerian Agip Oil Company (NAOC), to Oando PLC, a prominent energy solutions provider headquartered in Nigeria. The transaction, valued at $783 million, represents a significant development in the West African oil sector and marks a strategic realignment for […]