Business strategy

Encavis AG announces the acquisition of a 199 MW portfolio consisting of three wind farms and two photovoltaic plants in Aragon, marking a key step in the group's technological diversification in Spain.
TC Energy reports higher financial results in the second quarter of 2025, boosts investments and anticipates a rise in annual EBITDA driven by growing natural gas demand in North America.

Saturn Oil & Gas reduces net debt by $86mn and posts record cash flow in Q2 2025

Saturn Oil & Gas reports a reduction in net debt by $86mn in the second quarter of 2025, achieving record free cash flow and production above forecasts in the North American market.
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Cenovus Energy announces a net profit of $851mn for the second quarter of 2025, while accelerating the completion of its main growth projects and strengthening its strategic position despite temporary operational constraints.
Analysis of sectors spared by Trump tariffs exposes the vulnerability of US industrial supply chains to Brazilian resources.

Nscale, Aker and OpenAI launch Stargate Norway, a 100,000 GPU AI infrastructure project in Norway

A partnership between Nscale, Aker and OpenAI will create Stargate Norway, an artificial intelligence infrastructure site powered by renewable energy, set to house 100,000 NVIDIA GPUs in Northern Norway by the end of 2026.
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Shell’s half-year net profit falls to USD8.38bn as the group announces a new share buyback programme, amid lower hydrocarbon prices and ongoing cost reductions.
Legrand reports a significant increase in half-year profit, fuelled by growing demand from data centres and reinforced growth prospects for the coming years.

Schneider Electric posts record half-year results driven by data centre demand

Schneider Electric’s revenue reached EUR19.3bn in the first half, supported by strong data centre activity and growth across all its main markets.
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Subsea 7 reports a strong increase in its financial results for the second quarter of 2025 and announces a definitive agreement for a merger with Saipem, while maintaining its growth outlook for the year.
Scatec ASA and Aboitiz Power secure approval for an increased tariff on ancillary services, generating more than $21mn in retroactive revenue on the Philippine market.

Enbridge confirms quarterly dividends with sustained payment for September 2025

Enbridge confirms dividend payments for its common and preferred shares, consolidating its shareholder return policy amid stability in the North American energy sector.
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Cox aims to acquire Iberdrola’s 15 power plants in Mexico for EUR4 bn (USD4.69 bn), strengthening its presence in a changing market.
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.
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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.
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.
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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.
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.
The growth of data centres and artificial intelligence is putting unprecedented pressure on global electricity grids, prompting major tech companies to rethink their energy supply to address capacity and competitiveness challenges.
BP announces the appointment of Albert Manifold as chairman, succeeding Helge Lund. Manifold, former CEO of CRH, will join the board on September 1, before officially taking over the role on October 1.

Electrica raises €500 million with its first green bond issuance

Romanian company Electrica raised €500 million through the country's first green bond issuance, with participation from the European Investment Bank (EIB), to finance its renewable energy and storage projects.
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Kem One and EDF signed a protocol agreement for a 10-year electricity supply contract, covering seven French industrial sites. The contract is expected to be finalised by the end of September 2025.
The Canadian energy solutions provider has received approval from the Toronto Stock Exchange to repurchase up to 10% of its float by July 2026.

Marseille court approves Bourbon’s accelerated financial restructuring

The Marseille Commercial Court has validated Bourbon Group’s accelerated safeguard plans, paving the way for a debt reduction and shareholder transition by the end of 2025.
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Legrand now expects annual revenue growth of 10 to 12%, driven by data centre momentum, with an immediate impact on its share price in Paris.
Energie Baden-Württemberg AG announces the completion of a €3.1bn capital increase to support its investment plan, with strong shareholder participation, marking a major milestone for the group’s financial strategy.

Iberdrola secures €2.5bn credit line from 32 international banks

Iberdrola strengthens its financial position with a new five-year credit facility, signed with 32 banks, to support investments in power grids and renewable energy, particularly in the United States.
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Kinder Morgan, Inc. reports strong financial results for the second quarter of 2025, with net profit up 24% and a project backlog boosted by major new investments in natural gas transportation.
CenterPoint Energy remains vigilant as Invest 93L approaches, deploying emergency plans and pursuing upgrades to its electrical infrastructure across the Greater Houston area.

Georgia Power receives approval for 8,500 MW energy growth plan by 2030

The Georgia Public Service Commission approves the 2025 Integrated Resource Plan, which includes major investments in generation, storage and the grid to address the strong rise in electricity demand.
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Norwegian industrial group Aker ASA achieved a strong surge in its share price in the first half, expanded its diversification into real estate, and executed major transactions despite global energy market volatility.
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.
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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.
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.
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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.
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.