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Prairie Operating to Acquire Nickel Road Operating’s Assets Energy firm Prairie Operating Co, on Thursday, agreed to acquire the assets of Nickel Road Operating, oil and gas acquisition company in a cash deal for $94.5 million. The deal value is split into $83 million in cash and $11.5 million in deferred cash payments and it […]
Climate technology company Partanna Arabia collaborated with real estate developer ROSHN, on Thursday, with an aim to construct a carbon-negative concrete production facility in the Saudi Arabia region. The firm said,when operating at full capacity, the facility has the potential to generate 1.3 million carbon credits annually. Cement and concrete producer said the facility initially […]
Shanghai Electric said its energy storage business of 100mw/100mwh REP1&2 Energy Storage Station project in Kent, UK, entered commercial operation on Wednesday. The company said the development marks the grid connection of Fiskerton II-A solar project, final one of the eight solar projects in the country. Two projects are built in East and Southeast England, […]
Energy firm Dragon Oil started production of crude oil from state-owned oil discovery Al Wasl field (also known as North Safa), in the Arab Republic of Egypt, on Tuesday. The firm said it is set to drill seven new wells over the next two years as per the agreed plan with Egyptian authorities to achieve […]
Infrastructure firm Ara Partners acquired a majority interest in energy provider firm USD Clean Fuels to bring critical infrastructure solutions in the North American renewable fuel market, beginning with West Colton Rail Terminal, on Tuesday. The company said as part of the deal, USDCF also acquired the West Colton Rail Terminal, a fully operational biofuels […]
Energy and water firm TAQA signed a consortium with Saudi Water Partnership Company (SWPC) for Juranah Independent Strategic Water Reservoir Project (ISWR-1) in Saudi Arabia, on Tuesday. The consortium includes three firms in all, which are Vision International Investment (Vision Invest), development and investment holding company along with Gulf Investment Corp (GIC), financial service provider […]
Energy company CNOOC Ltd, on Tuesday, said Mero2 Project, the second assignment of the development plan commenced production safely. The company said the development plan began its production at Mero, Brazil’s well-known oilfield, located in the Santos Basin pre-salt southeastern offshore Brazil. Mero includes four production units namely, Mero1, Mero2, Mero3, and Mero4. Mero1 commenced […]
Renewable energy firm NextEra Energy Partners, on Thursday, sold its Texas natural gas pipeline portfolio for $1.82 billion in cash to oil and gas firm Kinder Morgan. The firm said the gas pipeline portfolio consists of seven pipelines supplying natural gas to Mexico, as well as to power producers and municipalities in South Texas. The firm said […]
Retail electricity company American Electric Power (AEP) agreed to sell its 50% interest in energy firm New Mexico Renewable Development (NMRD), to Exus North America Holdings, an investment and asset management firm, on Tuesday. The company said AEP along with electricity and electric services provider PNM Resources, which owns the other 50% of NMRD, are […]
The Department of Energy in Abu Dhabi signed a memorandum of understanding (MoU) with State Grid Corporation of China (SGCC), on Tuesday, to build a strong, highly efficient smart energy and power system to utilize diversified sources in the clean and renewable energy sector. The Department of Energy said the partnership aligns with the overall […]
Private equity firm Vance Street Capital, on Tuesday, signed a binding sale and purchase agreement worth 505 million Canadian dollars ($378.2 million) to sell its subsidiary firm Terra Insights to Orica, a mining firm. Vancouver-based Terra Insights is an end-to-end sensor-to-cloud data delivery platform, which provides customized engineer solutions to site-specific problems. The firm also […]
Oil and gas firm Mubadala Energy discovered gas presence from the exploration of well Layaran-1 at South Andaman, about 100 kilometres offshore of North Sumatra, Indonesia. Abu Dhabi-based firm said the well investigated a substantial gas column, measuring over 230 meters in thickness within an Oligocene sandstone reservoir. Through wireline, coring, sampling, and production tests […]
