UK Oil & Gas (UKOG.L) agreed to sell its entire stake in the Horse Hill field in the UK and the surrounding PEDL137 license for 1 million pounds sterling.
The 85.635% stake is being sold to Energy B (NRGB.AQ), subject to regulatory clearance and approval from the buyer's shareholders, the British oil and gas company said Friday.
UK Oil and Gas intends to use the proceeds to fund its two UK salt cavern energy storage projects and pursue new international energy opportunities.
Repsol (REP.MC) agreed to sell a 49.99% stake in a renewable energy portfolio in Spain to Abu Dhabi Future Energy Co., d/b/a Masdar, in a deal that values the portfolio at 849 million euros.The 705-megawatt portfolio comprises operational 13 wind farms and six solar parks, according to a Thursday release. The Spanish oil and gas company said the assets also include more than 565 megawatts of potential hybridization pipeline growth through wind, solar and battery storage.The deal is expected to be completed by the end of the fourth quarter, subject to regulatory approvals.Abu Dhabi National Energy Co., (ADX:TAQA) d/b/a Taqa, holds a 43% stake in renewable energy company Masdar.
Venture Global (VG) and Greece-based Atlantic-SEE LNG Trade said late Thursday they expanded their existing sales and purchase agreement for US liquefied natural gas.Under the revised agreement, Atlantic-SEE will double its contracted LNG purchases with Venture Global from a minimum of 0.5 million tonnes per annum to 1.0 million tonnes per annum.The 20-year agreement is scheduled to begin in 2030, according to a statement.
Iran will treat all of Elon Musk's companies in the Middle East as military targets, CNBC reported Thursday, citing a report from Iranian state media outlet Fars.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)