Hafnia (HAFNI.OL) agreed to acquire an additional 1.66% stake in Danish shipping group Torm (TRMD-A.CO) for $34 per share, according to a Thursday release.
The tanker company will subsequently own a 19.85% interest in Torm. The transaction will be satisfied using cash on hand and existing credit facilities.
Orlen (PKN.WA) plans to initiate a squeeze-out of shares held by minority shareholders in Polish energy distributor Energa.The energy group will offer 27.60 Polish zlotys for each Energa share and will announce the squeeze-out on Sept. 30, according to a Wednesday release.Orlen said the move follows the consent of its management and supervisory boards.
Subsea7 (SUBC.OL) said Wednesday that the Turkish Petroleum Offshore Technology Center extended its contract linked to the Sakarya Phase 3 gas development in offshore Turkey.The Norwegian subsea engineering group said the extension is worth between $50 million and $150 million and covers installation and connection services to support commissioning of the project's floating production unit.Provision of management and engineering services on the project started immediately, with commissioning of the production unit planned for 2028.
Shell (SHEL.L, SHELL.AS) executed final commercial agreements with the National Gas Co. of Trinidad and Tobago to advance the development of the Aphrodite gas project in the country.The company said Wednesday that first gas from the development is expected in the second quarter of 2027. It finalized the commercial deals with the European oil and gas company in September 2026.