The UK government has invested £20 million into a UK nuclear fusion investment fund, which is expected to leverage up to £100m of private investment. Energy secretary Ed Miliband said: “This government is taking back control of Britain’s energy by driving for clean homegrown power through our Plan for Change. “Fusion has the potential to provide us with energy security, whilst attracting the best technologies to our shores and training up the next generation of British scientists and engineers. We are backing both nuclear and fusion power, and today we take a step forward in growing this exciting industry.” The Department for Energy Security and Net Zero (DESNZ) said on Thursday that it is investing capital to unlock private sector investment and help the nascent sector scale up. It said government will receive a share of any returns made by the partnership. The department argued that successful deployment of nuclear fusion energy would be “globally transformative” and would allow the UK to export the technology to a global market that is expected to be worth trillions of pounds. It said the funding was allocated from the government’s existing research and development budget for the year 2024 to 2025. The government’s cornerstone investment in nuclear fusion will effectively “kickstart” the Starmaker One investment fund, a private vehicle set up to enable start-ups and businesses to commercialise and grow. It is the first early-stage fusion energy venture capital fund to be formed outside the US and the first of its kind to partner with the government as an investor. The energy department said it has invested £410m, unveiled in January, into UK nuclear fusion research to spur collaboration with other countries to drive economic growth through developing clean and “unlimited” power. The fusion fund is structured as a limited partnership, in which the UK government is

Energy Infrastructure Partners (EIP) has injected about EUR 209 million ($230.42 million) in additional capital into Eni Plenitude SpA Società Benefit, increasing its stake to 10 percent. Including EUR 588 million paid March 2024, EIP’s investment in Eni SpA’s renewables arm now totals about EUR 800 million. “The transaction confirms a post-money equity value of Plenitude of around EUR 8 billion and an enterprise value of over EUR 10 billion”, Italian state-backed integrated energy company Eni said in an online statement. EIP partner Tim Marahrens said, “Our increased commitment to Plenitude reflects our confidence in its unique integrated model, which combines renewable generation, retail energy solutions and e-mobility at scale”. “Over the past year, Plenitude has demonstrated its ability to exceed targets and capitalize on the accelerating energy transition”, Marahrens added. Plenitude’s installed generation capacity from renewable sources rose to 4 GW last year, meeting a goal Eni outlined in its 2024-27 plan published March 14, 2024. Plenitude plans to reach over 8 GW of installed renewable energy capacity by 2027, and 15 GW by 2030. Currently it is active in over 15 countries. In Europe, it counts more than 10 million energy and energy solutions clients, as well as over 21,000 electric vehicle charging points, Eni said. Recently KKR & Co. Inc. completed the purchase of a 25 percent stake in another Eni company, biofuels developer Enilive. That is to be raised to 30 percent after the conclusion of a later deal. “The overall proceeds for Eni group, after accounting for cash adjustments and other items, amount to 2.967 billion euros [$3.2 billion], including a capital increase in Enilive of 500 million euros to support the company’s growth plan”, Eni said in a press release March 6. “Enilive, with its integrated business model, represents a prime example of the progress of the business satellite

IntrospeXion recognises that mental health is not just a personal struggle but a universal challenge, affecting every industry. Remote personnel, in particular, experience extreme psychological stress due to isolation, high-risk environments and limited access to support. While physical safety is a priority across all sectors, mental health remains a silent crisis that requires urgent attention. The harsh reality: What the data tells us Recent assessments conducted by IntrospeXion and many other industry experts, have revealed alarming trends within the Energy sector in the North Sea: 75% of all suicides are men. Increase in cases of domestic abuse for remote personnel, predominantly emotional and psychological in nature. 25% of reported domestic abuse cases involve male victims. Offshore workers are 15x more likely to attempt suicide. Burnout among young workers: 1/3 of Gen-Z workers (aged 18-24) took time off in 2024 due to stress, indicating a generational divide in resilience and coping with workplace pressures. 67% reported fatigue and sleep disruption, impacting cognitive function and overall wellbeing. Extrapolating these figures across the 40,000 offshore workers in the North Sea, the mental health crisis in this sector is undeniable. Yet, support structures remain inadequate, and stigma prevents many from seeking help. The role of industry leaders HR departments and industry leaders must take proactive ownership of offshore mental health. Traditional Employee Assistance Programs (EAPs) have just a 4% uptake, proof that conventional approaches are failing this workforce. IntrospeXion: Delivering real change IntrospeXion was founded by an industry psychologist to bridge the gap between mental health needs and meaningful intervention. Their team of qualified Psychologists provide onshore and offshore mental health solutions, which include: On-site Psychological Support: Routine mental health check-ins with qualified professionals. Crisis Intervention Training: Equipping managers with the skills to spot early warning signs and respond effectively. Cognitive Behavioural Stress Inoculation

BP PLC said Monday the Cypre field in Trinidad and Tobago is now producing and is expected to deliver about 250 million standard cubic feet a day (MMscfd) of gas at peak. The project, located 78 kilometers (48.47 miles) off the southeast coast of Trinidad in a water depth of about 80 meters (262.47 feet) according to BP, is part of the East Mayaro Block. Cypre is wholly owned by BP Trinidad and Tobago LLC (BPTT), a joint venture owned 70 percent by Britain’s BP and 30 percent by Spain’s Repsol SA. Cypre is one of 10 projects that BP aims to start up between 2025 and 2027. “Production from Cypre will make a significant contribution towards the 250,000 barrels of oil equivalent per day combined peak net production expected from these 10 projects”, it said in an online statement. BPTT’s third subsea development, Cypre will have 7 wells tied back to BPTT’s existing Jupiter platform. Phase 1, consisting of 4 wells, was completed at the end of 2024. “The second phase is expected to commence in the second half of this year”, BP said. BPTT president David Campbell said, “Cypre is another key milestone in bpTT’s strategy to maximize production from our shallow water acreage using existing infrastructure”. “The project not only reinforces our commitment to maintaining production but also plays a crucial role in satisfying our existing gas supply commitments”, Campbell added. “Cypre represents a significant investment in the country’s energy sector”. William Lin, BP executive vice president for gas and low-carbon energy, said, “The second of 10 major projects across our global portfolio that we expect to start up by 2027, Cypre is also the first of a series of projects we will be bringing online in Trinidad to deliver gas to the nation and add value for

U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 6.2 million barrels from the week ending March 21 to the week ending March 28, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. That report was released on April 2 and included data for the week ending March 28. The EIA report showed that crude oil stocks, not including the SPR, stood at 439.8 million barrels on March 28, 433.6 million barrels on March 21, and 451.4 million barrels on March 29, 2024. Crude oil in the SPR stood at 396.4 million barrels on March 28, 396.1 million barrels on March 21, and 363.6 million barrels on March 29, 2024, the report outlined. Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.605 billion barrels on March 28, the report showed. Total petroleum stocks were up 5.6 million barrels week on week and up 27.2 million barrels year on year, the report revealed. “At 439.8 million barrels, U.S. crude oil inventories are about four percent below the five year average for this time of year,” the EIA said in its report. “Total motor gasoline inventories decreased by 1.6 million barrels from last week and are two percent above the five year average for this time of year. Finished gasoline inventories increased and blending components inventories decreased last week,” it added. “Distillate fuel inventories increased by 0.3 million barrels last week and are about six percent below the five year average for this time of year. Propane/propylene inventories increased by 1.0 million barrels from last week and are eight percent below the five year average for this time of year,”

Papua New Guinea’s national petroleum and energy company Kumul Petroleum Holdings Limited has finished its seismic program on its operated Kimu and Barikewa licenses. “On Wednesday, March 26, we shot the last hole on a seismic line in the Kimu license, and camp demobilization has begun. This is the culmination of a seismic program we have been undertaking in our two petroleum retention licenses”, Wapu Sonk, Kumul Petroleum’s managing director, said. “The purpose of this seismic work is to gather additional geological information on the petroleum resources already discovered in these two licenses, to increase the volumes of oil and gas reserves. The second objective is to identify and firm up siting of some delineation wells and exploration targets”. Sonk said the seismic campaign had been carried out by contractor OilMin Holdings and had taken approximately six months. He noted that seismic line cutting is a labor-intensive activity and the six seismic lines required the employment of 477 local people in remote areas of the Gulf and Western provinces. The company anticipates 6 months for analyzing and incorporating seismic data into its geological models. “Kumul Petroleum and OilMin have worked closely with locally impacted communities and although seismic work only requires company presence in an area for a relatively short time, assistance has been provided to local primary schools at Kaiam and Kumusi. Without community support this fieldwork would not have been possible”, Sonk said. Sonk said Kumul Petroleum is investing heavily to assess and develop its oil and gas licenses, aiming to create economically viable development plans. He highlighted Kumul Petroleum’s direct involvement in exploring and potentially commercializing previously deemed unviable gas resources in Papua New Guinea. To contact the author, email [email protected] What do you think? We’d love to hear from you, join the conversation on the Rigzone