LONDON, UK: ADM Energy PLC, a natural-resources investing company, has announced that it has acquired a majority stake in OFX Technologies, LLC, a technology company that provides solutions to the US upstream oil and gas industry. The investment is part of ADM’s strategy to diversify its portfolio and tap into the growing market for oilfield…
Search Results for: energy industry
Europe’s tech industry investment plunges amid high interest rates, economic uncertainty
Europe’s tech industry faced a challenging year in 2023, as venture capital investment plunged by half amid high interest rates and macroeconomic uncertainty. However, some sectors, such as artificial intelligence and climate tech, managed to attract significant funding and talent, showing the resilience and diversity of the region’s innovation ecosystem, according to CNBC. The funding…
SPIE signs agreement to acquire ROBUR Industry Service Group GmbH
PARIS, FRANCE: SPIE, the independent European leader in multi-technical services in the areas of energy and communications, announces the signature of an agreement to acquire ROBUR Industry Service Group GmbH. Headquartered in Munich, ROBUR Industry Service Group GmbH is an industrial services company offering, to a diversified customer portfolio, a wide range of services across…
Ofcom has fined Shell Energy £1.4 million
LONDON: Ofcom has today fined Shell Energy £1,400,000 for not properly prompting more than 70,000 phone and broadband customers to review their contract, or letting them know what they could save by signing up to a new deal. Ofcom’s investigation found that the company broke important consumer protection rules designed to ensure that customers get…
Acacia Research buys majority stake in Benchmark Energy
NEW YORK: Acacia Research Corporation, a publicly traded company that invests in intellectual property and other assets, has announced that it has acquired a majority stake in Benchmark Energy II, LLC, an independent oil and gas company operating in Texas and Oklahoma. Benchmark is led by Kirk Goehring, a veteran in the oil and gas…
Kinder Morgan to buy NextEra Energy Partners’ Texas gas pipelines for $1.82 billion
TEXAS: Kinder Morgan, a U.S. pipeline operator, announced on Monday that it has agreed to acquire NextEra Energy Partners’ natural gas pipelines in South Texas for $1.82 billion in cash. The deal is expected to close in the first quarter of 2024. The acquisition will add seven pipelines with a total transport capacity of 4.9…
Airloom Energy appoints new CEO and raises $4 million for novel wind power device
Airloom Energy, a company that aims to revolutionize utility-scale wind energy generation, has announced Neal Rickner as its new Chief Executive Officer. Rickner has over 25 years of experience in the energy, defense, and industrial sectors, and was previously the COO of Makani, a next-generation wind-turbine company owned by Alphabet and Shell. Rickner said he…
Ofgem consults on debt protection for energy market and consumers
LONDON: The energy regulator Ofgem has launched a consultation on how to protect the energy market and consumers from the risk of rising debt, which has reached a record high of £2.6 billion. The regulator said that the debt level was driven by a combination of the increase in wholesale energy prices, and wider cost…
Coro Energy signs 50MW solar power MoU with Mobile World Investment Corporation
LONDON, UK: Coro Energy PLC, the South East Asian energy company with a natural gas and clean energy portfolio, has signed a Memorandum of Understanding (MoU) with Mobile World Investment Corporation in Vietnam to install rooftop solar systems across their Vietnamese portfolio. Mobile World Investment Corporation is a white goods and consumer electronics retailer company…
TGS and PGS to merge and create a leading energy data company
OSLO, NORWAY: TGS ASA and PGS ASA, two of the largest providers of geophysical data for the energy industry, have announced that they have agreed to merge and form a new company with a strong portfolio of products and services. The merger, which is expected to be completed by the first half of 2024, will…
Mayfield Group appoints Andrew Rowe as new CEO to lead energy transition
SYDNEY, AUSTRALIA: Mayfield Group Holdings Limited (Mayfield), a leading provider of electrical and telecommunications solutions to the Australian power infrastructure industry, has announced the appointment of Mr. Andrew Rowe as its new CEO and Managing Director. Mr. Rowe will take over from Mr. Jon Hobbs, who is retiring after five years of service, on 3…
China set to achieve 9 million new energy vehicle sales in 2023
Industry experts anticipate that China will witness the sale of approximately 9 million new energy vehicles (NEVs) this year. Despite policy shifts impacting the sector’s stability, the NEV market’s robust growth remains certain and has emerged as a significant factor in stabilizing consumption trends. Chen Shihua, Deputy Secretary-General of the China Association of Automobile Manufacturers,…