Oil and gas giant Shell (SHEL.L, SHELL.AS) said Monday it will sell Solenergi Power, which includes its Indian renewable energy business Sprng Energy, for $1.8 billion.
The sale to Aditya Birla Group's renewable energy platform, Aditya Birla Renewables, is expected to complete by yearend. Shell said Sprng Energy employees will continue employment with the new owner.
Sprng Energy supplies solar and wind power to electricity distribution companies in India.
Fitch maintained its A+ long-term foreign-currency issuer default rating on Saudi Arabia with a stable outlook, according to a July 10 note.The affirmation is based on the country's strong and healthy external balance sheet, its resilient economy and sound banking industry amid geopolitical risks from the US-Iran conflict.Fitch additionally took note of the kingdom's rising government debt and the expected but temporary narrowing of its fiscal deficit in 2026 due to higher oil revenue.
Zenith Energy (ZENA.OL, ZEN.L) signed an agreement to secure an at-the-market equity offering facility worth up to 2 million pounds sterling.The facility will allow the energy production and development company to potentially conduct share sales on the London bourse over the next 12 months, according to a July 10 release.
Arabian Drilling (SASE:2381) said Sunday that it will restart the operations of three offshore rigs that were suspended due to regional developments.The oilfield services company expects to fully resume normal operations of its suspended rigs by the second half of 2026, which will bring its offshore fleet utilization to 100%.