Company’s underlying net profit after tax was $640 million, a decrease of 21% SYDNEY: AGL Energy Ltd. (AGL) announced a statutory loss of $98 million for the twelve months ending June 30, 2025, a result influenced by significant items totaling $596 million, including an increase in onerous contracts and costs for a retail transformation. The…
Tag: energy transition
Duratec acquires EIG Australia in $9 million deal to expand fuel infrastructure capabilities
PERTH: Engineering and remediation contractor Duratec Ltd. has acquired 100% of AMD Electrical Pty Ltd., trading as EIG Australia, in a deal worth up to 9 million Australian dollars, the company announced Friday. The acquisition strengthens Duratec’s position in the national fuel infrastructure market and expands its self-perform capabilities across the Defence, Mining & Industrial,…
Bureau Veritas drives growth with strategic acquisitions in cybersecurity, nuclear, and sustainability consulting
PARIS: Bureau Veritas has stepped up its portfolio diversification strategy with three acquisitions designed to strengthen its presence across high-growth technical sectors. The global Testing, Inspection, and Certification (TIC) firm announced agreements to acquire specialized companies in Germany, Denmark, and South Korea, aligning with its LEAP I 28 growth strategy. Bureau Veritas will acquire Denmark’s…
Metals One eyes expansion with U.S. uranium project acquisition
LONDON: Metals One Plc (AIM: MET1) said Friday it has secured exclusive rights to acquire a 75% stake in two U.S.-based companies holding uranium and vanadium claims in Utah and Colorado, expanding its strategic footprint in America’s critical minerals sector. The claims—Vanadium King, Radium Mountain, and Wedding Bell—are located in the Uravan Mining Belt and…
Empyrean Energy raises £1 million to advance Indonesian gas project
LONDON: Empyrean Energy plc said Monday it raised £1 million through a placement of 1.25 billion new shares to fund ongoing development of its Mako Gas Field interest in Indonesia and for general working capital. The new shares were issued at 0.08 pence each, according to the London-listed oil and gas developer, which has assets…
Electric Guitar signs heads of terms for reverse takeover of U.S. energy startup Dunbar
LONDON: Electric Guitar PLC (LSE: ELEG) said Friday it has signed non-binding heads of terms to acquire Dunbar Energy Inc., a newly established U.S.-based energy company, through a reverse takeover transaction. Dunbar, incorporated in Nevada, is focused on powering digital infrastructure, including artificial intelligence and cryptocurrency operations. It aims to convert coal mine methane and…
South32 agrees to sell Cerro Matoso to CoreX in nickel market restructuring
SYDNEY: South32 Limited (ASX/LSE/JSE: S32; ADR: SOUHY) has signed a binding agreement to sell its Cerro Matoso nickel operation to a subsidiary of CoreX Holding B.V., marking a strategic shift amid structural changes in the nickel market. Under the deal, CoreX will assume economic and operational control of Cerro Matoso, including all current and future…
Technologies New Energy appoints Julio Perez as CEO
LONDON: Technologies New Energy plc (LSE: TNE), a developer of clean energy projects aimed at industrial decarbonization, has appointed Julio Perez as chief executive officer, effective June 27, 2025. Perez brings over 15 years of global investment experience, with a focus on clean and renewable energy. He succeeds José Meneses, who will remain with the…
APA Group to acquire Atlas to Reedy Creek Pipeline in $110 million deal
SYDNEY: APA Group (ASX: APA) announced Wednesday that it has entered into a binding agreement to acquire the Atlas to Reedy Creek Pipeline (ARCP) from Senex CSG Assets Pty Ltd for $110 million. ARCP, a 56-kilometer gas transmission pipeline in Queensland’s Surat Basin, transports gas from Senex’s Atlas East Compression Facility to APA’s Reedy Creek…
KKR to acquire Zenith Energy in major infrastructure investment
SYDNEY: Global investment firm KKR has signed definitive agreements to acquire Zenith Energy, an independent power producer specializing in hybrid power solutions, from a consortium of investors. Zenith’s founder and management will retain a minority stake in the company. The deal positions Zenith for long-term growth, supported by strong sector fundamentals and macroeconomic tailwinds. The…
Pensana signs rare earth offtake MoU with Toyota Tsusho
LONDON: Pensana PLC (LSE: PRE) announced Thursday it has signed a non-binding memorandum of understanding with Japan’s Toyota Tsusho Corporation for a rare earth offtake agreement, marking a key step in establishing a new sustainable supply chain. Under the proposed terms, Toyota Tsusho could purchase up to 20,000 metric tons per year of ultra-clean mixed…
Energy demand to surge beyond population growth by 2050: CEO Kuwait Petroleum
At the CERAWeek by S&P Global energy conference, Shaikh Nawaf al-Sabah, CEO of Kuwait Petroleum Corporation, forecasted an energy demand trajectory that outpaces the anticipated population growth by 2050. This projection starkly contrasts with the prevailing belief that energy demand would reach its zenith within this decade. Al-Sabah highlighted the burgeoning energy needs of the…