Energy Update
As part of the joint venture deal, Mubadala Petroleum, a subsidiary of Abu Dhabi strategic firm Mubadala Investment Company, and RDIF agreed to acquire 49% stake in Gazprom Neft-Vostok, the operator of several oil fields in the Tomsk and Omsk regions.
Wind turbine maker Siemens Gamesa has installed a redox flow energy storage system for testing at its La Plana research and development (R&D) site near Zaragoza in Spain.
BP Plc agreed to invest $20 million in a developer of ultra-fast charging for batteries, a technology the oil major believes is key for accelerating the adoption of electric vehicles.
Out of the seven licenses won, BP will be operator in five of them and will take part in the other two as partner.
The BP-operated licenses include the Skua field, located near its Marnock field, which in turn is part of the Eastern Trough Area Project (ETAP) hub. Another operated license is located near its Capercaillie and Vorlich discoveries to go along with a license in the Northern North Sea and two licenses located in Quadrant 208 west of Shetland.
The latest approvals of the all-stock merger aimed at creating a $15bn combined entity came from the Kansas Corporation Commission (KCC) and Missouri Public Service Commission (MPSC).
According to the parties, the merger will be completed in early June with the combined company to be named as Evergy.
According to Nemaska Lithium president and CEO Guy Bourassa, the funding is the last set of financing needed to place the Whabouchi mine project into commercial production.
The Canadian lithium mining firm has signed an agreement with National Bank Financial, BMO Capital Markets and Cantor Fitzgerald Canada, for the sale of 280 million of its shares, priced at C$1 each. The parties have an option to buy additional shares worth $32.5m.
The Floridian electric utility said that it will also retire one of the coal units of the power plant located on Tampa Bay in southeastern Hillsborough County, near Apollo Beach.
According to Tampa Electric, it will be Unit 1, which will be modernized to operate on natural gas, thereby eliminating coal as its fuel. Unit 1 of the Big Bend Power Station was commissioned in 1970.
Under the terms of the deal, Global Atlantic Financial Group will acquire a project portfolio of 26 operating solar facilities. These projects have a combined generation capacity of approximately 1.7GW.
Power generated by these facilities is sold to customers across the country under long-term contracts.
Southern Power president and CEO Mark Lantrip said: “We are excited about our new partnership with Global Atlantic.
BTRP, which has been constructed with an investment of ZAR325.7m ($26.14m), is located at the Fairview Mine in Mpumalanga province in eastern South Africa.
Commissioning of its regrind mill will be completed this week, on schedule and on budget, said Pan African Resources.
The company said that the construction of the regrind mill has taken five months. The mill is expected to enable the BTRP to maintain the annual production of around 21,000 ounces per annum.
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