Genel Energy’s $360 million takeover of Capricorn signals MENA push
Genel Energy will acquire Capricorn Energy for $360 million, paying $4.74 per share comprising $3.75 in cash and a $0.99 special dividend – a 33% premium to Capricorn’s pre‑bid share price. The deal gives Kurdistan‑focused Genel a foothold in Egypt, splitting its production roughly evenly between the country’s Western Desert and Iraqi Kurdistan and diversifying […]
National Grid Ventures makes $1.75 billion bet on data centre power
National Grid Ventures will invest $1.75 billion for a 35% stake in Joulent, a US energy platform building 2.67 GW of gas-fired capacity in West Texas to power AI data centres. The project, known as Project Kilby, will be jointly owned with Chevron and is backed by a 20-year power purchase agreement (PPA) with a […]
US heatwave forces emergency grid measures
A historic heatwave across the eastern US pushed the PJM Interconnection to forecast record peak demand of up to 166.3 GW, surpassing its previous record of 165.6 GW. To avert supply shortfalls, the US Department of Energy issued emergency orders under section 202(c), allowing PJM to direct backup generators and temporarily override environmental permits from […]
Russia arms LNG carrier raising maritime security fears
Surveillance photos released by Estonia show the Russian LNG carrier Marshal Vasilevskiy outfitted with machine gun emplacements and sandbags on its bridge – an unprecedented militarisation of a commercial vessel. Analysts describe the move as a “hostile act” aimed at deterring NATO or EU forces from inspecting the ship, which regularly shuttles LNG between St […]
UK car lobby warns of £1.4 billion post-Brexit tariff threat
The Society of Motor Manufacturers and Traders (SMMT) cautions that without changes to post-Brexit rules, 70% of battery electric and plug-in hybrid vehicles exported between the UK and EU will face a 10% tariff from… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]