Tuesday, 11 August 2026

Seadrill booked roughly USD 200 million of new contract backlog through awards and extensions in the U.S. Gulf and Malaysia after its May fleet status report, according to Offshore Engineer OEDigital.

The bulk came from the West Vela, which won a one-year contract in the U.S. Gulf starting in June 2027. That award alone adds approximately USD 161 million to backlog, excluding additional services, Offshore Engineer OEDigital reported.

In Malaysia, the West Capella picked up an extension estimated at 75 days, worth about USD 26 million excluding additional services. The additional term commits the rig into August 2027.

Quarterly results landed alongside the backlog update. Seadrill posted net income of USD 29 million and adjusted EBITDA of USD 144 million for the second quarter of 2026, per Offshore Engineer OEDigital.

The company lifted its full-year 2026 adjusted EBITDA guidance to a range of USD 420 million to USD 450 million, up from USD 370 million to USD 420 million.

Samir Ali, chief executive of Seadrill, said the company achieved 96% economic utilization in the quarter, meaningfully enhanced its contract coverage in the U.S. Gulf and increased full-year revenue and EBITDA guidance.

The combined USD 200 million addition spans both the U.S. Gulf and Malaysia work signed since the May fleet status report.

BP plc has agreed to buy Woodside Energy's 70% interest in the Calypso gas project offshore Trinidad and Tobago, according to World Oil.

The deal lifts BP's holding in Block TTDAA 14 from 30% to 100%, World Oil reported. That leaves the company as sole interest holder in the block containing the offshore gas project.

Consideration combines cash with contingent payments, and closing is expected by the end of 2026, subject to customary government and regulatory approvals, according to World Oil.

BP already sits inside the country's gas export chain. It holds a 45% interest in the Atlantic LNG facility in Trinidad and Tobago, World Oil reported. Feedstock supply for that plant depends on domestic offshore gas, giving the buyer a downstream outlet for any volumes developed at Calypso.

For Woodside Energy, the sale removes its majority position in the project.

LS Power has agreed to acquire a 606-MW gas-fired power plant in Texas from Constellation, according to Power Magazine.

The plant sits near Houston, Texas, Power Magazine reported. Its capacity is 606 MW, per the same report.

Power Magazine described the buyer as a New York-headquartered group that pursues investments in North American power and energy infrastructure. The outlet said the group confirmed it has a deal for the natural gas-fired plant.

Ratio has raised its takeover offer for Pharos to a total value of 32.8183 pence per share, made up of 28.8183 pence in cash and a 4 pence special dividend, according to Offshore Engineer OEDigital.

The sweetened terms carry a premium of about 29.2% to the closing price of Pharos shares on June 23, 2026, the last trading day before Ratio announced its original offer, Offshore Engineer OEDigital reported.

The Pharos board responded by unanimously reinstating its recommendation in favor of the increased Ratio offer and withdrawing its recommendation of the rival Serica proposal.

Ratio said it has secured irrevocable undertakings to support the transaction covering roughly 173.9 million Pharos shares, equivalent to around 41.76% of the company's issued share capital.

The higher cash portion will be funded through an expanded irrevocable letter of credit provided by Israel Discount Bank, Ratio said.

BP plc has agreed to buy Woodside Energy's 70% interest in the Calypso gas project offshore Trinidad and Tobago, according to Offshore Engineer OEDigital.

The transaction hands BP control of a discovery that Offshore Engineer OEDigital puts at 3.5 trillion cubic feet of natural gas, located off the coast of Trinidad and Tobago.

For the seller, the sale closes the book on the country. Offshore Engineer OEDigital reported that the deal marks Woodside's exit from the region.

BP's position in Trinidad and Tobago already extends beyond upstream acreage. The company holds a 45% stake in the country's Atlantic LNG facility, according to Offshore Engineer OEDigital.

That downstream anchor is fed by a substantial gas business. BP produced around 1 billion cubic feet per day of natural gas in Trinidad and Tobago in 2025, more than 15% of the company's net gas output, Offshore Engineer OEDigital reported.

Petrobras posted second-quarter net income of R$52.4 billion (US$10.4 billion), lifted by record oil production, World Oil reported.

Total oil and natural gas output hit a record 3.34 MMboed in the quarter, while Petrobras-operated production climbed to 4.87 MMboed, according to World Oil. Operated pre-salt production set its own record at 2.78 MMboed.

Capital spending reached R$26.7 billion (US$5.3 billion) over the three months, with 82% of that directed at exploration and production projects, World Oil reported.

The P-79 FPSO achieved first oil in May and began gas injection 56 days later, according to World Oil.

Gross debt closed the quarter at US$70.8 billion, under the ceiling set in the company's 2026-2030 Business Plan.

Shareholders approved R$17.4 billion in dividends and interest on equity, World Oil reported.

Orrön Energy has agreed to combine its Nordic platform, excluding Karskruv, with Cloudberry, taking a 27.01 percent holding that makes it the largest shareholder in what the company describes as a leading Nordic independent power producer, according to its half-year report published via GlobeNewswire.

The combined business will hold 2.1 TWh of annual proportionate power generation, according to the report.

Karskruv, which sits outside the transaction, generated 111 GWh over the reporting period. The achieved electricity price came in at EUR 70 per MWh, and together with revenues from project sales produced EBITDA of MEUR 1.8 for continuing operations, Orrön Energy said.

Proportionate net debt stood at MEUR 90.5, including discontinued operations.

Orrön Energy also reported a solar disposal in Germany: in April 2026 it sold a 91 MW solar project for a total consideration of up to MEUR 5.4, of which MEUR 2.4 was received at closing.

Two further disposal processes are running in the UK. The company has launched sales processes for its 1.8 GW solar energy portfolio and for a 300 MW data centre project.

Behind those sales sits a wider development book. Orrön Energy said it holds a 4 GW data centre pipeline across Germany and the UK, alongside an 8 GW portfolio of solar and battery projects, which it described as creating significant value potential.

Plug Power reported about USD 178.3 million in second-quarter revenue and a nearly break-even gross margin, according to Hydrogen Fuel News.

The company raised its full-year outlook alongside the quarterly figures, Hydrogen Fuel News reported.

On the commercial side, Plug Power secured a binding order for a 50 MW electrolyzer in Australia, according to the same report. That order sits at the industrial end of the electrolyzer market, where binding commitments rather than letters of intent determine when manufacturing slots are filled.

The quarterly revenue figure came with a gross margin close to break-even, leaving the company reliant on other levers for cash. Plug Power also outlined asset sales to support liquidity, Hydrogen Fuel News reported.

The combination of a raised outlook and disclosed asset disposals frames the quarter: order intake in electrolyzers against a margin line that has yet to move meaningfully above zero.

Samsung SDI is purchasing General Motors' 49.99% holding in their Indiana battery joint venture, a regulatory filing shows, leaving the cell maker in sole control of the $3.5 billion factory, Electrek reported.

The deal converts the New Carlisle plant into the first battery factory Samsung SDI owns outright anywhere in North America, according to Electrek.

Samsung SDI pointed to demand in explaining the move, citing "the slower-than-expected growth of EV demand" among market changes since the venture was first announced. Samsung SDI shares dropped roughly 4.5% after the disclosure, Electrek reported.

As designed, the 680-acre site was to turn out NCA-based, nickel-rich prismatic cells under the PRiMX brand. Annual output was set at 27 GWh initially with headroom to reach 36 GWh, mass production was targeted for 2027, and staffing was put above 1,600.

The two firms retain a joint technical track. A separate agreement covers co-development of next-generation prismatic batteries for possible use in future EVs, per Electrek.

GM booked a charge of roughly $6 billion while trimming its EV production plans, Electrek reported.

The $7,500 federal tax credit expired on September 30, 2025, and US automakers reduced EV output afterward, according to Electrek.

Samsung SDI takes on sole ownership of a plant whose capacity plan was drawn up before the demand slowdown the company now cites.