#energy

Kuwait Oil Company signed a $16.0B infrastructure partnership for its crude-oil pipeline network. Blackstone, Brookfield and KKR will collectively hold 49%, while KOC keeps 51% and operational control.

Oil briefly touched $90 after a fresh tanker-strike shock around Iran, then gave back gains as Tehran said U.S. talks could proceed. The move keeps Hormuz risk, shipping insurance, and inflation-sensitive energy costs at the center of the week’s market pricing.

Iraq and Syria signed a memorandum to rehabilitate the Kirkuk-Baniyas crude line, part of roughly $60B in U.S.-Iraq agreements reported on July 17. AP reported a projected 2M barrels per day route that would reduce reliance on the Strait of Hormuz.

ConocoPhillips $COP agreed to acquire a 42% interest in BP Energy Company of Kirkuk Limited, joining four producing fields in northern Iraq. The company release says the redevelopment covers more than 3B boe of initial recoverable resources and is expected to close by end-2026.

ADNOC Distribution agreed to buy 100% of Shell Downstream South Africa at a $1 billion implied enterprise value before debt and working-capital adjustments. The deal includes 580 fuel stations plus wholesale fuel, aviation and lubricants operations.

A £5.7B possible offer for DCC from KKR and Energy Capital Partners is facing opposition from Ninety One, Aviva Investors and Fidelity International. The revised terms are £65.25 in cash plus a £1.4722 final dividend per share, with the consortium due to make-or-walk by July 8.

Microsoft plans a Pecos, Texas datacenter campus that adds about 2 GW of global capacity. The project ties AI cloud growth directly to dedicated onsite energy infrastructure.

Singtel sold a 2.8% stake in Gulf Development for about S$1B, or roughly $773M, through a private placement. The group expects about S$140M in cumulative equity gains and will retain a 4.95% Gulf stake valued near S$1.8B.

U.S. producer prices rose 1.1% in May, above the 0.7% Dow Jones consensus cited by CNBC. The surprise puts energy-sensitive inflation back in focus for Fed pricing and Treasury-market positioning.

DigitalBridge $DBRG agreed to acquire ArcLight Capital Partners for $1.05B, split between $750M of cash and $300M of stock. The deal adds an energy infrastructure platform to a digital-infrastructure manager with more than $100B in AUM.

LG Energy Solution (373220.KS) traded as much as 16% higher after announcing a 6GWh U.S. battery energy storage agreement with DTE Energy. The deal covers a 1.5GW project portfolio in Michigan and starts deliveries in 2026.

BP $BP fell as much as 9% in London trading after the board removed Chair Albert Manifold with immediate effect. The company cited governance, oversight and conduct concerns, adding a leadership shock to a still-unsettled oil major turnaround.