Energy
Latest news, analysis, and insights from ASX energy companies
Oil prices fall as OPEC+ sticks to voluntary production hike timeline
The eight OPEC+ countries that previously announced additional voluntary production adjustments in April and November 2023 have agreed to move ahead with planned output hikes, starting in April. The decision came as a surprise to some commentators, with market consensus suggesting the group would postpone the restart as they had done three times since the […]
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Cameco partners with Brookfield in acquisition of Westinghouse Electric
Canadian uranium giant Cameco Corporation (NYSE: CCJ) and clean energy investor Brookfield Renewable Partners (NYSE: BEP, BEPC) have announced they will join forces on the acquisition of global nuclear services business Westinghouse Electric Company. The acquisition gives Westinghouse a total enterprise value of almost $8 billion. Under the arrangement, Cameco’s expertise in the nuclear industry […]
Imperial Oil secures hydrogen from Air Products for renewable diesel refinery
Under a recently announced deal, Pennsylvania-based Air Products (NYSE: APD) will supply low-carbon hydrogen to Canada’s second-largest integrated oil company Imperial Oil’s (TSX: IMO) renewable diesel plant, near Edmonton in Alberta. The low-carbon hydrogen will be supplied from Air Products’ planned hydrogen Edmonton facility by pipeline to Imperial’s Strathcona refinery, where it will be used […]
First Hydrogen announces green hydrogen production plans for North America
First Hydrogen (TSX-V: FHYD) is setting its sights on green hydrogen production within the North American market – revealing expansion plans for Canada and the US. The company recently commenced the development of four key green hydrogen production sites in the UK, with North America its next target market. First Hydrogen Energy, the energy division […]
TC Energy strikes deal with Mexico’s CFE to develop $4.5b gas pipeline
Leading North American energy company TC Energy (TSX: TRP) has announced it has struck a deal with Mexico’s state-owned electric utility Comisión Federal de Electricidad (CFE) to develop a US$4.5 billion (C$5.79 billion) natural gas pipeline. The offshore Southeast Gateway Pipeline will supply natural gas to Mexico’s central and southeast regions, and is expected to […]
Spark Power secures new long-term agreement at Rayos Del Sol Solar project in Texas
Spark Power Group’s (TSX: SPG) solar O&M (operations and maintenance) business has signed a long-term agreement with 174 Power Global for its Rayos Del Sol Solar project in Texas. Hanwha Group’s subsidiary 174 Power Global owns Rayos, and is a renowned leader in solar and energy storage project developments. Under the agreement, Spark Power will […]
Cenovus Energy acquires BP’s 50% stake in Toledo refinery, assumes operatorship
Cenovus Energy (TSX: CVE) (NYSE: CVE) has agreed to purchase BP PLC’s 50% stake in the BP-Husky Toledo refinery in Ohio for US$300 million – giving it full ownership of the refinery. Since combining with Husky Energy in 2021, Cenovus has held 50% of the refinery. The transaction is expected to close by the end […]
SNC-Lavalin wins C$64m contract at Romanian nuclear power plant
In a contract said to be worth C$64 million, SNC-Lavalin Group (TSX: SNC) subsidiary Candu Energy has been selected to provide design and engineering services for a reactor at Nuclearelectrica’s Romanian nuclear facility. The contract will last for two and a half years, with SNC-Lavalin to provide engineering and early procurement services for retubing work […]
ClearStream Energy announces $243m in new projects and contracts
ClearStream Energy (TSX: CSM) has announced a range of new projects and contracts booked between 1 July and 9 August this year, worth an estimated $243 million. The work will take place across ClearStream’s five divisions, Flint, Environmental, Universal Weld Overlays, Wear Technologies, and ClearWater, which will be 20% completed in 2022, with the remaining […]
Pacific Energy and Enbridge to partner on US$5.1b Woodfibre LNG Project
Amid a global energy crisis, Pacific Energy and Enbridge (TSX: ENB) will jointly invest in the development and operation of the US$5.1 billion Woodfibre liquefied natural gas (LNG) project in Canada’s British Columbia region. To be built near Squamish, Woodfibre will be a 2.1 million tonne per annum LNG export facility, with 250,000 cubic metres […]