PARIS: TotalEnergies and QatarEnergy have officially launched the final two components of Iraq’s $10 billion Gas Growth Integrated Project (GGIP), marking a major milestone in the country’s energy transformation. Patrick Pouyanné, Chairman and CEO of TotalEnergies, and Saad Sherida Al-Kaabi, Qatari Minister of State for Energy Affairs and CEO of QatarEnergy, met with Iraqi Prime…
Tag: energy transition
Verbrec to sell Competency Training unit to RelyOn for $11.5 million
SYDNEY: Engineering and asset management firm Verbrec Ltd. (ASX: VBC) said Tuesday it has agreed to sell its registered training organization, Competency Training Pty Ltd, to RelyOn Australia Pty Ltd for A$11.5 million in cash. The deal, subject to customary conditions including approval from the Foreign Investment Review Board, will see all staff, facilities and…
Oscillate signs term sheet to divest hydrogen assets to Pulsar Helium
LONDON: Oscillate PLC said Tuesday it has signed a term sheet to sell its wholly owned subsidiary, Quantum Hydrogen Inc., to Pulsar Helium Inc. in a conditional share-based transaction valued at up to US$800,000. Quantum holds Oscillate’s hydrogen assets in Minnesota, which the company has deemed non-core as it pivots toward copper and strategic metals…
NRW Holdings to acquire Fredon Industries in $200 million deal, expanding infrastructure reach
SYDNEY: Australian engineering and mining services firm NRW Holdings Ltd (ASX:NWH) said on Tuesday it will acquire Fredon Industries Pty Ltd for up to A$200 million, adding a fourth strategic pillar to its operations and expanding its footprint in electrical, mechanical, infrastructure and technology services. The acquisition, structured as a debt-free, cash-free transaction, will be…
Verbrec returns to profitability, reinstates dividend amid strategic growth
Company reported profit of A$3.8 million for FY2025, up from A$2.0 million the previous year SYDNE: Engineering services firm Verbrec Ltd. (ASX: VBC) has posted its strongest financial performance in over a decade, reporting a comprehensive profit of A$3.8 million for FY2025, up from A$2.0 million the previous year. The company also reinstated its dividend…
Technologies New Energy acquires Diverfuel to digitise clean fuel production
LONDON: Technologies New Energy plc (LSE: TNE), a UK-based energy transition company, said on Thursday it has acquired Diverfuel S.A., the developer of a digital platform for clean fuel and green chemical production, as part of its strategy to enhance industrial decarbonisation. The Diverfuel Platform is a scalable SaaS/PaaS middleware solution that integrates IoT and…
Hydropulse and ABO Energy partner to accelerate green hydrogen deployment in Europe
LONDON: Hydropulse, the newly launched build-own-operate subsidiary of ITM Power plc, has entered into a strategic partnership with ABO Energy, a global renewable energy developer, to fast-track green hydrogen projects across Europe. The collaboration aims to combine ABO Energy’s industrial offtaker network and international development pipeline with Hydropulse’s modular hydrogen production capabilities, powered by ITM’s…
Horisont Energi to wind down operations amid market headwinds
SANDNES: Norwegian clean energy developer Horisont Energi AS said on Friday it will begin an orderly wind-down of operations by the end of September, citing persistent market headwinds and a failure to secure strategic investment. The company, which spun off its Barents Blue ammonia project in June, has struggled to attract capital for its remaining…
Blackstone to acquire Shermco in $1.6 billion deal to expand energy transition portfolio
NEW YORK: Blackstone (NYSE: BX) announced Thursday that private equity funds affiliated with the firm have entered into a definitive agreement to acquire Shermco, a leading provider of full life-cycle electrical equipment services, from Gryphon Investors. The transaction values Shermco at approximately $1.6 billion. Founded in 1974, Shermco is one of the largest electrical testing…
BHP posts resilient FY25 results on record copper, iron ore output; trims capex outlook beyond FY27
BHP declared a final dividend of 60 U.S. cents per share SYDNEY: BHP Group Ltd (BHP.AX) on Tuesday reported a 14% rise in attributable profit to $9.0 billion for the year ended June 30, 2025, buoyed by record copper and iron ore production, despite an 8% drop in revenue amid weaker commodity prices. The world’s…
Aterian Partners with Cambridge AI spin-out to revolutionize mineral exploration in Morocco
LONDON: Aterian plc (LSE: ATN), a critical mineral exploration and development company, has signed a pioneering Memorandum of Understanding with a stealth-stage machine learning start-up spun out from the University of Cambridge. The start-up, backed by the Royal Academy of Engineering and Entrepreneurs First, specializes in advanced computational modeling for mineral exploration. Under the agreement,…
National Grid to sell Grain LNG Terminal for £1.66 billion in strategic refocus
LONDON: National Grid plc (NG.L) said on Thursday it has agreed to sell its Grain LNG business to a consortium comprising Centrica plc and Energy Capital Partners LLC, part of Bridgepoint Group plc, for approximately £1.66 billion including a pre-completion dividend. The sale marks a further step in National Grid’s strategy to streamline operations and…