Kinetik, a Permian-to-Gulf Coast midstream operator, has agreed to acquire Durango Permian, a Texas-based midstream company, in a cash and stock deal worth up to $840m. As per the terms of the deal, Kinetik will pay $315m in cash and issue around 3.8 million of its shares as consideration to Durango Midstream, the parent company of Durango Permian. This amounts to a total upfront consideration of $765m. Durango Midstream is an affiliate of Morgan Stanley Energy Partners. The deal also includes a contingent payment of up to $75m. This will be linked to the capital cost for the Kings Landing com ..read more

Alliance Nickel has secured the major project status (MPS) for its fully owned NiWest nickel cobalt project in Western Australia from the Australian federal government. The project is located in the West Australian nickel belt, near Glencore’s Murrin Murrin nickel-cobalt operation. NiWest is said to contain one of Australia’s highest-grade undeveloped nickel laterite mineral resources. The project is targeting an annual production of 90,000 tonnes nickel sulphate and 7,000 tonnes cobalt sulphate. The Australian nickel cobalt project is estimated to generate around 600 jobs during the construct ..read more

The British oil services company John Wood Group has rejected a £1.4bn takeover offer from a Dubai-based rival Sidara, stating the offer fundamentally undervalued the company. Aberdeen-based Wood confirmed that Sidara made an unsolicited offer to acquire the company at 205p per share on 30 Aril 2024 but had unanimously rejected the offer. After carefully consulting its financial advisers about the offer, Wood’s board concluded that it undervalued the company and unanimously rejected the proposal. Wood Group, in its statement, said: “The board carefully considered the proposal, together with it ..read more

Canadian mining company Standard Lithium has teamed up with Norwegian oil and gas company Equinor to advance the development of its sustainable lithium projects in the US. Under the terms of the agreement, Equinor will invest up to $160m in exchange for a 45% stake in Standard Lithium’s two lithium projects in southwest Arkansas and east Texas. The investment includes a $30m cash payment in compensation for the previous costs. Equinor will fund a $60m work program at the acquired assets, comprising $33m Standard Lithium’s share and $27m its share. The Norwegian company will also make milestone ..read more

RWE, one of the world’s leading players in offshore wind, signed Framework Agreements with Hitachi Energy and Aibel for the joint supply of three high-voltage direct current (HVDC) systems for RWE offshore wind farms. The agreements are long-term in nature as the secured HVDC systems are designated for offshore wind projects from RWE’s global development pipeline, which are to be connected to the grid at the beginning of the next decade. A signing ceremony held in Hamburg, Germany celebrated the partnership between the three companies. HVDC systems allow electricity transmission from offshore ..read more

ADNOC announced the signing of a 15-year Heads of Agreement (LNG agreement) with EnBW Energie Baden-Württemberg AG (EnBW), one of the largest energy companies in Germany, for the delivery of 0.6 million metric tonnes per annum (mmtpa) of liquefied natural gas (LNG). The LNG will primarily be sourced from ADNOC’s lower-carbon Ruwais LNG project, currently under development in Al Ruwais Industrial City, Abu Dhabi. The Ruwais LNG plant is set to be the first LNG export facility in the Middle East and Africa region to run on clean power and will leverage the latest technologies and artificial inte ..read more

Shell Singapore Pte Ltd, a subsidiary of Shell plc, has reached an agreement to sell its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd., a joint venture company between Chandra Asri Capital Pte. Ltd. and Glencore Asian Holdings Pte. Ltd. The transaction will transfer all of Shell’s interest in Shell Energy and Chemicals Park Singapore to CAPGC. “This agreement marks a significant step in Shell’s ongoing efforts to high-grade our Chemicals and Products business, and is a testament to our commitment to deliver more value with less emissions, as outlined at our Capital Markets Day last ..read more

EnBW is to invest around €40 billion in the energy transition by 2030. As before, the focus will be on the expansion of renewable energies and of the electricity and gas grids. For a secure supply of energy, hydrogen-ready power plants are planned that can go onstream at any time when there is a lack of wind or sun. EnBW is developing products and solutions for customers that map out a smart and innovative path to climate neutrality. “This is the largest investment program in our corporate history. As Germany’s only remaining integrated energy company, we see ourselves as having a special role ..read more

Danish energy company Ørsted has announced the start of the first green energy production from the 253MW Gode Wind 3 offshore wind project in Germany. The first electricity generation from the offshore wind project comes after the installation of the first of SG 11.0-200 DD turbines at the facility’s construction site. Installed by Cadeler’s Wind Osprey vessel, the wind turbine has a nominal output of 11MW and a rotor diameter of 200m. Ørsted said that an additional 22 turbines will be developed and commissioned at the German offshore wind farm in the upcoming weeks. Apart from Cadeler, the in ..read more

Metals Australia has awarded major project study contracts to advance the development of its Lac Rainy high-grade flake-graphite project in the Tier 1 mining jurisdiction of Quebec, Canada. The company has signed a metallurgical and laboratory services agreement with laboratory testing services provider SGS Laboratories in Lakefield, Ontario, Canada. It has appointed specialist client advisor Metpro Management to oversee the metallurgical test-work programmes for the design of a flake-graphite concentrate plant. Lycopodium has been awarded a contract to conduct a Pre-Feasibility Study (PFS) fo ..read more