10 Jun Oil Prices Today WTI Crude $90.84/bbl, Brent $93.85/bbl, Murban Crude $89.16/bbl, OPEC $98.92/bbl, Natural gas @ $3.21/MMBtu
(Oilandgaspress) UKMTO has received a report of an incident 20NM northeast of Sohar, Oman. Local authorities have reported a tanker has experienced a fire in their engine room and are on the scene assisting with the evacuation of the crew. The vessel is reporting 1 casualty and 2 crew members missing. No environment impact reported. Authorities continue investigating. . Related News
The following members have been appointed to the Shareholders’ Nomination Board of Neste Corporation: Director General Maija Strandberg of the Ownership Steering Department in the Prime Minister’s Office of Finland, as the Chair, and EVP, Investments Annika Ekman of Ilmarinen Mutual Pension Insurance Company and Senior Vice President, Investments Timo Sallinen of Varma Mutual Pension Insurance Company, as its members. Pasi Laine, the Chair of Neste’s Board of Directors, acts as an expert to the Nomination Board.
According to the Charter for the Shareholders’ Nomination Board, the members of the Nomination Board represent the company’s three largest shareholders. Shareholders entitled to elect members to the Nomination Board are determined annually on the basis of the shareholders’ register as of the first banking day in June in accordance with detailed rules included in the Charter for the Nomination Board.
The Shareholders’ Nomination Board is responsible for preparing and presenting proposals to the Annual General Meeting concerning Board members as well as the remuneration and the number of Board members. The Nomination Board shall forward its proposals to Neste’s Board of Directors by 31 January 2027. .Related News
EnQuest PLC announced that its wholly-owned subsidiary, EnQuest Petroleum Production Malaysia Limited (the “Purchaser”), has agreed to acquire three separate packages (the “Proposed Acquisitions”) that include interests in four offshore production sharing contracts in Malaysia (the “Participating Interests”).
The Proposed Acquisitions involve the Purchaser entering into three separate farmout agreements (“FOAs”) with PETRONAS CARIGALI SDN. BHD. (“CARIGALI”) and E&P Malaysia Venture Sdn. Bhd. (“EPMV”) (as applicable).
The maximum total consideration for the Proposed Acquisitions is $833 million, of which $554 million is payable upon Completion (the “Upfront Consideration”), expected on 31 December 2026, subject to customary completion conditions, including inter alia the waiver or expiry of applicable pre-emption rights associated with Package 2. This gives existing production sharing contract (“PSC”) partners the right to match the proposed terms agreed by EnQuest for the Proposed Acquisition of Package 2 (the “Pre-emption Right”).
The Proposed Acquisitions, should they complete, will together constitute a reverse takeover for the purposes of the UK Listing Rules of the Financial Conduct Authority (the “FCA”) (the “UKLRs”) and are therefore notifiable in accordance with UKLR 7.5.1R(1). In addition, the acquisition of Package 1 alone (regardless of whether Package 2 or Package 3 completes) constitutes a reverse takeover under the UKLRs. Pursuant to UKLR 7.5.1R(2), a combined prospectus and a shareholder circular for the Proposed Acquisitions will be published in due course (the “Prospectus”).. Related News
EDP, through its subsidiary EDP Renewables North America (EDPR NA), and Salt River Project (SRP), today celebrated the completion of Flatland Energy Storage, a 200 megawatt (MW) / 800 megawatt-hour (MWh) battery energy storage system (BESS) in Arizona. Flatland Energy Storage has the capacity to power the equivalent of approximately 44,500 Arizona homes, helping ensure reliable electricity during periods of peak demand and supporting the state’s growing energy needs.
Flatland Energy Storage demonstrates the increasing importance of utility-scale battery projects in enhancing grid flexibility and improving energy reliability. Flatland Energy Storage is the largest BESS within the EDP Group. .. Related News
The GreenH2Atlantic project for the construction of a 100 MW green hydrogen production unit planned for the site of the former Sines coal-fired power plant, to be developed by Hytlantic, has received last week a favourable conditional Environmental Impact Statement from the Portuguese Environment Agency (APA), an important milestone in the project’s development process.
Hytlantic, the company leading the GreenH2Atlantic project, will now analyze the recommendations and proposed measures, and how they can be integrated into the engineering designs. Having completed this important step, engineering activities and other studies will continue, in order to confirm the project’s economic viability and, subsequently, submit the final stage of environmental permitting, the Environmental Compliance Report for the Detailed Design (RECAPE). The implementation of the project remains subject to a final investment decision by Hytlantic, a decision that, among other aspects, will assess the existence of a regulatory framework favourable to the creation of a green hydrogen market.. Related News
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