Reliance Industries Limited (RIL), a leader in multiple sectors including telecommunications, retail, and energy, announced a significant year of growth and strategic acquisitions. For the fiscal year ended March 31, 2024, Reliance Industries reported a record annual consolidated revenue of ₹1,000,122 crore ($119.9 billion), marking a 2.6% increase year-over-year. The company’s EBITDA rose by 16.1% […]
Ithaca Energy, a leading independent oil and gas operator in the UK North Sea, announced a significant step towards a transformative combination with Eni S.p.A.’s UK upstream assets, signaling a major move in the energy sector. This potential combination, excluding Eni’s CCUS and Irish sea assets but including the recently acquired Neptune Energy assets, is […]
The Renewables Infrastructure Group Limited (TRIG), a notable entity in the renewable energy sector listed on the London Stock Exchange and advised by InfraRed Capital Partners as Investment Manager and Renewable Energy Systems as Operations Manager, has successfully completed the sale of two onshore wind farms located in Scotland. This transaction not only signifies a […]
Summit Midstream Partners, LP (NYSE: SMLP) announced a significant transaction, selling its Utica Position, comprising approximately 36% interest in Ohio Gathering Company, LLC (“OGC”), approximately 38% interest in Ohio Condensate Company, LLC (“OCC”), and its wholly owned Utica assets to a subsidiary of MPLX LP (“MPLX”) for a substantial $625 million in cash. This transaction, […]
In a strategic move set to impact the Australian energy sector, Bengal Energy Ltd. (TSX: BNG) announced the completion of its Field Resource Maturation and Development Plan (“Plan”) for its Tookoonooka Potential Commercial Area (“PCA”) 332 (“PCA 332”). This plan signifies a pivotal step in harnessing the untapped potential of PCA 332, which spans a […]
In a notable development in the Brazilian energy sector, Neoenergia, through its Brazilian subsidiary, has initiated a significant move to strengthen its position within its subsidiary, Neoenergia Cosern. Announced to the Brazilian Securities Commission (CVM), Neoenergia has launched a bid for the acquisition of an additional 6.89% of Neoenergia Cosern’s capital. This move will increase […]
The Bangladesh Oil, Gas, and Mineral Corporation (Petrobangla) has officially launched the 2024 Bangladesh Offshore Bid Round, marking the first offering of offshore acreage since 2012. This significant event unveils fifteen deep water and nine shallow water blocks, opening new avenues for exploration in one of the world’s most promising yet underexplored regions. The bid […]
In a significant move for India’s energy sector, GAIL (India) Limited, Oil and Natural Gas Corporation (ONGC), and Shell Energy India (SEI) Private Limited have entered into a tripartite Memorandum of Understanding (MoU) with the aim to bolster ethane and other hydrocarbons import and the development of evacuation infrastructure at the Shell Energy Terminal in […]
Wintershall Dea, in collaboration with its partners Cheiron Energy, INA, and the Egyptian Gas Holding Company (EGAS), has successfully begun gas production at the ED2-X well in the East Damanhur block, located in the onshore Nile Delta. This significant development comes after the start of exploration in 2021 and the announcement of a gas discovery […]