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This article is an on-site version of our Energy Source newsletter. Premium subscribers can sign up here to get the newsletter delivered every Tuesday and Thursday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersWelcome to Energy Source, coming to you from New York, where people are back at their desks after the July 4 weekend.The latest news from another US-British struggle — activist investor Elliott Management’s drive to revamp BP — is that the laggard oil major has appointed the former chief financial officer of its rival Shell, Simon Henry, to its board.Henry has considerable experience in oil…

DNO ASA said its Norwegian operating subsidiaries have entered into an offtake agreement with France’s ENGIE SA for the company’s Norwegian gas production. The offtake agreement covers the entirety of DNO’s Norwegian gas production following its acquisition of Sval Energi Group AS, the company said in a news release. The four-year agreement is effective October 1 and “offers premium pricing,” DNO said. Related to the agreement, DNO said it has entered into an offtake financing facility with an undisclosed U.S. bank for up to $500 million. Under the facility, the bank finances DNO the value of up to 270 days…

New Delhi: India is seeking collaboration on offshore energy technologies with Norwegian firms as it prepares to explore more than 2.5 lakh square kilometres under the Open Acreage Licensing Policy (OALP) Round-10, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said.In a post on X, the minister said the country is looking to develop a full exploration and production (E&P) deepwater technology ecosystem under the leadership of Prime Minister Narendra Modi.”As India plans to explore over 2.5 lakh sq kms in Open Acreage Licensing Policy Round 10 in one of the largest offshore exploration bidding rounds globally, we…

Stay informed with free updatesSimply sign up to the Oil & Gas industry myFT Digest — delivered directly to your inbox.BP and Shell have signed agreements to assess new opportunities in Libya, as international oil majors step up their return to the North African country more than decade after it collapsed into civil war.Libya, which has huge reserves of oil and gas, remains one of Africa’s largest producers but has suffered from under-investment after international oil companies largely pulled out due to the fighting that followed the overthrow of strongman Muammer Gaddafi in 2011.The country remains divided between a UN-backed…

A release posted on the UK government website on Monday announced that Dan McGrail has been appointed as the permanent Chief Executive Officer of Great British Energy. McGrail will be based in Scotland, working from the Aberdeen headquarters, on a permanent contract with Great British Energy, the release noted, highlighting that he took up the post of interim CEO in March on secondment from RenewableUK. “His appointment brings world class private sector experience to Great British Energy, with the former Chief Executive of RenewableUK and CEO of Siemens Engines now leading the UK’s publicly owned clean power revolution,” the UK government release stated.…

New Delhi: India’s southern state of Kerala has sued Swiss-based Mediterranean Shipping Company and sought $1.1 billion in compensation after one of its container vessels sank and leaked fuel into the Arabian Sea in May. The high court in Kerala issued an order late on Monday asking port authorities to effect “the arrest, seizure and detention” of another MSC ship anchored in the Vizhinjam Port in the state until it deposits securities for the claim amount. MSC did not immediately respond to a Reuters request for comment. An Indian government statement in May said the company had appointed a marine…

Supermajors Shell and TotalEnergies expect to raise oil and gas production over the next two years from projects they operate in Africa’s top oil producer, Nigeria.Shell sees the start-up of the Bonga North deepwater oil and gas field by 2027, while TotalEnergies expects the Ubeta gas field to also begin production by that year, the top executives of the Nigerian units of the supermajor told an energy conference in Nigeria.Last year, TotalEnergies, operator of OML 58 onshore license in Nigeria with a 40% interest, took the Final Investment Decision (FID) with the license partners to develop the $550 million Ubeta…

KERRVILLE, Texas (AP) — Hope of finding survivors of the catastrophic flooding in Texas dimmed Tuesday, a day after the death toll surpassed 100, and crews kept up the search for people missing in the aftermath.The search efforts benefited from improving weather. The storms that battered the Hill Country for the past four days began to lighten up, although isolated pockets of heavy rain were still possible.Texas Gov. Greg Abbott planned to make another visit Tuesday to Camp Mystic, the century-old all-girls Christian summer camp where at least 27 campers and counselors died during the flash floods. Officials said Monday…

New Delhi: India plans to source about 10 per cent of its cooking gas imports from the U.S. beginning in 2026 as part of a broader effort to boost energy purchases to narrow its trade gap with Washington, four industry refining sources familiar with the matter said.The world’s third biggest oil importer and consumer relies heavily on Middle Eastern producers of liquefied petroleum gas (LPG), with more than 90 per cent of its roughly 20.5 million metric tons of imports in 2024 coming from the region. LPG is a mix of propane and butane used for cooking fuel and is…

Iberdrola SA will distribute EUR 0.409 ($0.48) per share as a supplementary dividend for 2024, raising total shareholder remuneration for last year’s results to EUR 0.645 gross per unit. The total 2024 distribution represents a 15.6 percent increase from the previous year, the Spanish multinational power utility said in an online statement. “Investors will have three options: to receive the amount corresponding to their supplementary dividend (EUR 0.409 gross per share) in cash; to sell their rights on the market; or to obtain new bonus shares from the group free of charge”, Iberdrola said. “These three options are not mutually…