Business and Finance
Woodside Energy Group Ltd has announced the signing of a significant long-term liquefied natural gas (LNG) supply agreement with JERA, Japan's largest utility company. The deal marks a major milestone in strengthening the strategic relationship between the two energy giants. Under the sale and purchase agreement (SPA), Woodside will supply…
Woodside Energy reports strong half-year results amid strategic acquisitions
Woodside Energy Group has released its financial results for the half-year ended June 30, 2024, showcasing robust performance and strategic growth initiatives. The Australian energy giant reported a net profit after tax of $1,937 million and an underlying net profit after tax of $1,632 million. The company's operational highlights include…
Woodside Energy to release 2024 Half-Year results on August 27
Woodside Energy will release its 2024 Half-Year results on Tuesday, August 27, 2024, and has provided line-item guidance for several key financial metrics ahead of the results presentation. Woodside has outlined the following expectations for the first half of 2024: Production costs are projected to be between $710 million and…
TotalEnergies to divest stake in Total PARCO Pakistan to Gunvor Group
TotalEnergies, a major player in the global energy sector, has announced its decision to sell its 50 per cent stake in Total PARCO Pakistan Limited (TPPL) to Gunvor Group. This move aligns with TotalEnergies' focus on concentrating its Marketing & Services operations in key geographies that offer growth and transition…
Woodside Energy acquires Tellurian Inc. for $900m
Woodside Energy Group Ltd has announced a definitive agreement to acquire Tellurian Inc. and its Driftwood LNG development project in an all-cash transaction valued at approximately $900 million. The deal, which represents $1.00 per share of Tellurian's outstanding common stock, has an implied enterprise value of about $1.2 billion. Woodside…
Wood Group reports strong half-year performance through growth strategy
John Wood Group PLC has announced positive results for the first half of 2024, demonstrating progress in its growth strategy and operational efficiency. The company reported adjusted EBITDA of approximately $210 million, representing a 4 per cent increase compared to the same period last year. This growth was primarily driven…
Henrik Melsom appointed Senior VP of Wood’s Norwegian operations
Henrik Melsom has been appointed Senior Vice President of Wood’s Norwegian operations, where he will focus on expanding the business in oil and gas, new energy solutions, and process industries. Wood currently employs approximately 900 people across Norway, with offices located in Bergen, Stavanger, Sandefjord, Porsgrunn, and Oslo. Melsom emphasised…
Honeywell to acquire Air Products’ LNG business for $1.81b
Honeywell (Nasdaq: HON) has announced its agreement to purchase Air Products' (NYSE:APD) liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in an all-cash deal. The acquisition, representing approximately 13 times the estimated 2024 EBITDA, marks Honeywell's fourth acquisition announcement this year. The deal will enable Honeywell…