The European Commission said Wednesday it commenced an in-depth investigation into the proposed merger between energy contractors Saipem (SPMI.MI) and Subsea 7 (SUBC.OL).
The commission said preliminary findings of the transaction showed it was largely complementary, and that it would further consolidate the market for subsea umbilicals, risers, and flowlines services that are also utilized in carbon capture and storage projects.
The regulator set a Nov. 26 deadline for its decision.
Gold Hydrogen (ASX:GHY) said the flow testing program at its Ramsay 1 well is set to begin imminently after a brief delay caused by equipment damage during transport, according to a Thursday Australian bourse filing.The repaired testing equipment has been installed at the Ramsay 1 site, leaving the well fully prepared for the planned flow testing program to evaluate helium-bearing reservoirs at the Ramsay Project, per the filing.The company will also undertake isotopic analysis of helium and helium-3 in collaboration with the Commonwealth Scientific and Industrial Research Organization and the University of Oxford, while noting that the testing does not guarantee commercially recoverable quantities of either gas, the filing added.The company's shares rose 4% in recent Thursday trade.
The US House of Representatives approved a $95 billion budget plan largely aimed at funding President Donald Trump's war with Iran, Bloomberg News reported Wednesday.The measure, passed in a 216-214 vote, is the first step in a process that would allow Republicans to fast-track $73 billion in Iran war-related spending and pave the way for aid to farmers affected by foreign retaliation to US tariffs and higher fuel and supply costs, Bloomberg reported.House Democrats unanimously opposed the measure, with Democratic leaders saying they plan to make Republican support for the funding a key issue in the November midterm elections, Bloomberg reported.