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Proactive weekly oil & gas highlights: SDX Energy, Reabold Resources, Deltic, Premier Oil, ADM Energy …

SDX Energy PLC (LON:SDX) on Tuesday told investors it had sold a non-core asset in the Eastern Desert of Egypt in a deal worth US$3mln. The group said it has sold a 50% working interest in the North West Gemsa licence to Gulf Energy, a private Egyptian company. Some US$1.4mln of the proceeds are being immediately used to discharge the company’s remaining liabilities on the licence. The company pointed out that the deal is part of an ongoing focus and commitment to capital discipline and careful portfolio management.…

Proactive weekly mining highlights: Bezant Resources, Anglo Asian Mining, Trident Royalties, Cornish Lithium …

The transformation of Bezant Resources PLC (LON:BZT) is proceeding apace, as due diligence is underway and proceeding as planned on the Hope copper-gold project in Namibia, which the company is in the process of acquiring. Red Rock Resources PLC (LON:RRR) and Power Metal Resources PLC (LON:POW) have updated on progress at the Blue Ribbon license in Victoria, Australia, which is owned by their joint venture, Red Rock Australasia (RRAL). As a result of the data, Blue Ribbon is now a priority target for RRAL, with next…

Reabold Resources offers to talk about assets to support bid for Deltic Energy

Reabold Resources PLC (LON:RBD) has responded to the rejection of its takeover approach to Deltic Energy PLC (LONL:DELT) with a defence of its West Newton project in Yorkshire's East Riding. The AIM-listed group currently has a 39.7% economic interest in the West Newton project through a 59.5% interest in Rathlin Energy, the prospect’s operator. It said it would be pleased to provide access to detailed and up to date information and spend time with the Deltic board and its advisers to explain the…

Britishvolt to build UK’s first battery cell ‘gigaplant’ in Wales

Britishvolt has signed an initial agreement with the Welsh Government to build the UK’s first battery cell 'gigaplant' in Wales. The 30 gigawatt/hour battery manufacturing plant and supplementary 200 megawatt solar plant will be built at the former RAF base at Bro Tathan, South Wales. READ: AMTE Power and Britishvolt agree to build UK’s first battery cell 'gigaplant' Britishvolt said the investment target of £1.2bn could create up to 3,500 jobs, with construction scheduled for early 2021. “Britishvolt will also encourage…

Hydrogen power firms cash in as industry hits its stride in 2020

While the wider world may be having a distinctly bleak 2020, the hydrogen power market seems to be finally hitting its stride, resulting in something of a boom in the shares of several firms leveraging the technology across numerous sectors. The current drive is toward ‘green’ hydrogen, which does not require the burning of fossil fuels to produce, as the world moves to decarbonise its economy a deduce reliance on non-renewable energy. Storage technology is also moving to the fore as companies and governments look to…

Senate candidate Jon Ossoff looks to young voters to help him flip Georgia blue

Campaign workers pose for photos with an Ossoff campaign bus in 2017. "Here's what I'm really optimistic about. Young people get it," Ossoff tells CNBC of his current run for the U.S. Senate.Bill Clark | CQ Roll Call via Getty ImagesCNBC.com is interviewing candidates for federal office this summer to gain insight into their political vision for the U.S. and how it can impact the economic outlook for the 37% of the 2020 electorate that is from the millennial and Gen Z generations. Set to be the first American generations to…

Melting snow drives Nordic power prices down, hits earnings at renewables producer

One of Europe's largest generators of renewable energy, Statkraft, said Friday that Nordic power prices had been "pushed down" in the second quarter due to high levels of snow melt.Announcing its results for the period, the company cited "significant hydrological surplus due to high snow reservoirs" as putting pressure on prices. In addition, issues with reduced capacity in parts of the transmission grid have hampered efforts to export surplus hydropower. This in turn has generated bottlenecks and put pressure on…

As the world heats up, converting to energy-efficient cooling systems will curb greenhouse gas emissions

A woman in Glendale, Calif., uses an umbrella to hide from the sun on May 26, 2020.Al Seib | Los Angeles Times | Getty ImagesAs the world heats up, converting to energy-efficient cooling systems is a major way to curb greenhouse gas emissions and limit climate change, according to a new report from the U.N. Environment Programme and the International Energy Agency. A shift to energy-efficient air conditioning appliances could cut as much as 460 billion metric tons of global greenhouse gas emissions — or about eight…

Echo Energy strikes deal to avoid further cost at Tapi Aike project

Echo Energy PLC (LON:ECHO) told investors that it has successfully restructured its relationship with Argentinean firm Compañia General de Combustibles (CGC) with a new arrangement that puts immediate focus on optimising capital allocation. The small cap exploration and production firm said that the new terms allow it to cease commitments to ongoing pre-drill expenditure at Tapi Aike. It will at least temporarily withdraw from the project, which was 19% owned by Echo. It will retain an ability to re-enter the…

Gore Street Energy returns over 10% as battery usage ramps up

Gore Street Energy Storage Fund PLC (LON:GSF), the industrial battery investor, posted a total return of 10.6% in the year to end-March, 2020. Net asset value rose 3% to 94.6p, while the trust also paid out a dividend of 7p for the first time, in line with its target. During the year, the trust raised £20.5mln with an additional £23.7mln raised since the end of the year. The size of the portfolio increased to 189Mw with an additional 50Mw added subsequently while the total pipeline of possible investments is now up…