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Business strategy

Guzman Energy secures $80mn credit facility to support expansion in the United States
Guzman Energy has finalised a $80mn revolving credit facility with BciCapital to strengthen its liquidity and support its growth in the Western U.S. energy markets.
John B. Hess joins Chevron’s board of directors and strengthens its global expertise
Chevron announces the appointment of John B. Hess, former executive of Hess Corporation, to its board of directors, marking a strategic step for the group’s governance in a context of transformation in the energy sector.

Nexans doubles its half-year net profit driven by electrification demand

Nexans reports a 113% increase in net profit for the first half, supported by the growth of its electrification activities and the upward revision of its financial targets for the year.
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European Commission investigates Adnoc’s acquisition of Covestro for EUR12bn
The European Commission opens an in-depth investigation into Adnoc’s purchase of German chemical group Covestro, questioning the potential impact of foreign subsidies and competition within the European internal market.
Stonepeak launches JouleTerra to develop strategic energy sites across Europe
Stonepeak announces the creation of JouleTerra, a platform dedicated to the aggregation and management of grid-connected land, aimed at supporting the deployment of renewable energy infrastructure throughout the European continent.

Baker Hughes finalises $13.6bn deal to acquire Chart Industries ahead of Flowserve

Baker Hughes is set to acquire Chart Industries for $13.6bn, surpassing Flowserve’s offer and ending the previously announced merger between Chart and Flowserve, according to sources close to the matter.
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Endesa posts 30% profit increase and warns over CNMC framework
Spanish energy group Endesa reports strong first-half profit growth but warns of insufficient incentives in the new grid remuneration framework proposed by the CNMC.
Air Liquide accelerates growth in the first half of 2025 with a record investment backlog
The French group posted higher sales and profitability while setting a new record for its investment backlog, driven by the electronics and energy transition sectors.

Bureau Veritas accelerates diversification with three targeted acquisitions in Europe and Asia

Bureau Veritas completes acquisitions in cybersecurity in Denmark, nuclear in Germany, and transition services in South Korea, further strengthening its coverage of strategic high-growth markets.
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Macquarie acquires Erova Energy and accelerates its expansion in renewable asset management in Europe
Macquarie finalises the acquisition of Erova Energy, further strengthening its capabilities in the management and optimisation of renewable assets in the United Kingdom and Ireland amid rapid sector growth.
Iberdrola and Echelon announce a joint venture for data centres in Spain
An agreement between Iberdrola and Echelon provides for the creation of a joint venture dedicated to the development of data centres in Spain, including an initial 144 MW site in Madrid, strengthening integration between energy and digital infrastructure.

TenneT invests EUR 5.5 bn in Dutch and German grids in the first half of 2025

TenneT strengthened its investments in electricity infrastructure in the Netherlands and Germany, reaching EUR 5.5 bn over six months, while a decision on the financing structure of its German subsidiary is expected in September 2025.
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Eni considers strengthening its share buyback after a strong second quarter
Eni is considering increasing its share buyback programme after financial results exceeded expectations, with reduced debt and revised annual targets in the gas segment.
Vallourec sees 64% drop in profit but strengthens operating margin
Despite a sharp decline in sales and prices, Vallourec improved its profitability and issued an upward forecast for its gross operating income in the second half of 2025.

ENI cuts net profit by 18% in the second quarter and bets on dividend strategy

Eni announces a sharp decline in quarterly net profit, the result of lower oil prices and a weaker dollar, while maintaining a strengthened dividend policy and a development trajectory in renewables.
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EDF cuts debt and refocuses investments amid declining electricity prices
EDF is reassessing its industrial priorities and streamlining investments, as net profit falls to €5.47bn ($5.94bn) in the first half of 2025 due to a weakening electricity market.
Edison reports solid growth in the first half with €9.4bn in revenue
Energy group Edison posts increased sales and investments despite a less favourable market environment, advancing its renewables development and strengthening its positions in Italy.

SEGULA Technologies accelerates its growth in Africa with a new office in South Africa

SEGULA Technologies opens an office in Cape Town, strengthening its presence in the African market and targeting expansion in energy, rail, and automotive sectors, in partnership with South African industrial firm AllWeld.
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GE Vernova raises its forecasts for 2025 after a strong second quarter
GE Vernova's revenue rose by 11% in the second quarter, driven by momentum in its Power activities, as the US group raised its financial targets for 2025.
Allrig strengthens its presence in Saudi Arabia with strategic expansion in Al Khobar
The Allrig group is expanding its operations in Saudi Arabia, supported by AstroLabs, to boost energy efficiency and address the growing needs of the local oil sector.
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Kazakhstan launches oil refining strategy to 2040 with $5bn in investments
Hungary confirms launch of Paks-2 with Rosatom by autumn
Hungary asserts refusal to abandon Russian oil and gas in face of European Union
Tulip Innovation secures third injunction against Sunwoda in battery patent dispute
Trump threatens tariffs on Russian oil, but Reuters says enforcement unlikely
ADNOC transfers 24.9% stake in OMV to its subsidiary XRG to strengthen international strategy
ADNOC announces the transfer of 24.9% of its shares in OMV to its subsidiary XRG, continuing the streamlining of its international assets and preparing the creation of Borouge Group International.
Global business leaders gather in Beijing for inaugural SMI China forum on sustainable innovation
The SMI China Forum brings together international and Chinese leaders for dialogue on supply chains, investment and energy innovation, marking a major step in public-private sector cooperation.

BHP considers Australian “green iron” sector too costly despite China talks

Mining group BHP sees low-emission iron production in Australia as unprofitable, just as Canberra and Beijing announce closer cooperation to decarbonise the global steel industry.
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Aker Carbon Capture pays $162mn in dividends after selling its main assets
Aker Carbon Capture distributed $162mn in dividends to its shareholders, a direct consequence of significant asset disposals and a substantial restructuring of its balance sheet in the second quarter of 2025.
Equinor buys 2.1 mn of its own shares for $201 mn in second 2025 phase
Equinor ASA acquired 2.1 mn of its own shares on the Oslo Stock Exchange for a total of $201 mn between July 7 and 11, continuing the second phase of its 2025 buyback programme.

Aker Horizons finalises the merger of its holding company with Aker ASA and restructures its portfolio

Norwegian group Aker Horizons transfers all its activities to a subsidiary of Aker ASA, sells major assets and prepares its new strategy after a half-year net loss of $220mn.
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South Texas Electric Cooperative launches tender for 500 MW of dispatchable capacity
South Texas Electric Cooperative is seeking proposals for the acquisition or purchase of energy for 500 MW of dispatchable capacity, aiming to strengthen long-term supply security in the ERCOT region.
Canada allocates $16mn to modernise grids and drive energy innovation in the Maritimes
A federal funding package of $16mn aims to accelerate grid modernisation, renewable energy development and carbon capture in Canada’s Maritime provinces.

RTE and Nexans launch an industrial chain to recycle 600 tonnes of aluminium per year

RTE and Nexans announce the creation of a recycling chain dedicated to aluminium from electrical cables, targeting 600 tonnes annually and covering the entire industrial cycle from collection to production.
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Three researchers win the 2025 Global Energy Prize for technological advances
Three scientists from China, the United States and Russia are laureates of the 2025 Global Energy Prize, honoured for their work on high-voltage power lines, fuel-cell catalysts and pulsed energy technologies.
Rio Tinto: five strategic priorities to close a 40% valuation discount
Rio Tinto’s new CEO inherits a significant stock market discount and will need to overcome major regulatory, operational, and financial hurdles to swiftly restore the company's appeal to international investors, according to a Wood Mackenzie analysis.

Westbridge launches Fontus, a strategic 380 MW data centre in Colorado

Westbridge Renewable Energy enters digital infrastructure market with Fontus, a 380 MW data centre campus in Colorado, positioned to meet strong growth in US cloud and artificial intelligence services.
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Borr Drilling raises $102.5mn through issuance of 50 million ordinary shares
Offshore drilling company Borr Drilling Limited announced the completion of an initial tranche issuance of 30 million ordinary shares out of the planned 50 million, raising $61.5mn towards the total goal of $102.5mn.
EDF Restructures Governance to Accelerate Nuclear and Hydroelectric Projects
EDF announces a new internal organization with key executive appointments to enhance decision-making efficiency and expedite the revival of nuclear and hydroelectric projects central to its industrial strategy.

Rubis unveils half-year report on liquidity agreement with Exane BNP Paribas

Rubis announces half-year results of its liquidity agreement managed by Exane BNP Paribas, totalling 241,328 shares exchanged for an aggregate amount of €6.5mn in the first half of 2025.
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CNOOC appoints Zhang Chuanjiang as new chairman to lead global strategy
Chinese oil giant CNOOC Limited appoints Zhang Chuanjiang as chairman, entrusting this experienced engineer to head the group's board of directors, strategic committee, and sustainability committee from July 8.
PTT Oil posts record profit and accelerates expansion in Asia
PTT Oil and Retail Business announces a 46% increase in net profit for the first quarter of 2025, driven by regional expansion in its energy and non-energy activities, alongside an integrated ESG strategy.

Shell forecasts decline in key business activities in second quarter

Shell revises downward its forecasts for the second quarter of 2025, anticipating notably a decline in Integrated Gas and Upstream segments, impacted by reduced volumes and lower profitability in several major activities.
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Subsea 7 secures sizeable subsea contract for Egyptian tie-back
The Luxembourg-based group will handle engineering, procurement, commissioning and installation of flexible pipelines and umbilicals to link a new field to Egypt’s existing offshore infrastructure, with offshore work scheduled for 2026.
Octopus Energy prepares $14 billion spin-off of Kraken
British firm Octopus Energy is considering a £10 billion spin-off of Kraken Technologies, involving an upcoming minority stake sale, and has initiated preliminary discussions with banks to oversee the strategic operation within the next year.

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