Eni S.p.A. has signed a Heads of Terms (HoT) with hyperscale digital infrastructure specialist Khazna Data Centers. The HoT lays the groundwork for a joint venture aimed at developing an AI Data Center Campus with a total IT capacity of 500 megawatts in Ferrera Erbognone, Lombardy, Eni said in a media release. “We’re proud to partner with Eni, a demonstrated energy leader, on this HoT, which represents a defining step in Khazna’s European expansion. Together with Eni, we are enabling the infrastructure needed for exponential AI growth – delivering the scale, sustainability, and operational precision that next-generation compute demands”, Hassan Alnaqbi, CEO of Khazna Data Centers, said. The project, whose development activities are already underway, is part of the strategic partnership between Italy and the United Arab Emirates launched in February 2025, aimed at installing an overall IT capacity of up to 1 gigawatt in Italy, Eni added. “Through this partnership Eni and Khazna are jointly contributing to delivering a world-class hyperscale infrastructure, strategic for Italy and Europe, providing their distinctive capabilities in innovation, energy sustainability, and rapid time-to-market”, Guido Brusco, Eni COO for Global Natural Resources, said. The AI Data Center Campus is planned to deploy scalable, high-performance computing and energy-efficient infrastructure, Eni said. The partnership leverages Khazna’s expertise in advanced data center design and operations and Eni’s leadership in sustainable energy, establishing a robust AI ecosystem at Europe’s core, Eni said. Eni will supply the Data Center Campus with Blue Power, a low-carbon electricity source produced by a new high-efficiency gas power plant designed to capture carbon dioxide emissions, Eni said. The company said this creates an innovative synergy linking decarbonized energy and data center design in Italy. To contact the author, email [email protected] What do you think? We’d love to hear from you, join the conversation on the

Tamboran Resources Corporation has reported that the Shenandoah South 2H sidetrack (SS-2H ST1) well achieved an average 60-day initial production (IP60) flow rate of 6.8 million cubic feet per day (MMcf/d), a Beetaloo Basin record. “This result is a new Beetaloo Basin record and is more than double the previous IP60 record set by the SS-1H well in 2024,” Joel Riddle, Tamboran Chief Executive Officer, said in a stock filing. Tamboran added that the exit rate maintains a steady, low-declining curve at 6.4 MMcf/d with a flowing wellhead pressure of 720 psi and has exhibited less decline than that of the SS-1H well over the last 30 days of testing. This also confirms the company’s view of commercial deliverability from the Beetaloo Basin to the Australian domestic East Coast gas market. Tamboran also said it had commenced the three-well 2025 Shenandoah South Pilot Project drilling program with the spudding of the Shenandoah South 4H well. The wells are being drilled by the Helmerich & Payne super-spec FlexRig Flex 3 Rig from the SS2 pad in Exploration Permit 98. “We have now commenced the largest planned drilling program in the Beetaloo Basin to date, with three wells to be drilled back-to-back with a total combined horizontal section of 30,000 feet”, Riddle said. “These three wells are the last remaining wells required to be drilled as part of Tamboran’s commitment to deliver 40 MMcf/d to the local market under our gas sales contract with the Northern Territory Government. With over 90 percent of electricity in the Northern Territory market supplied from gas-fired power generation, our contract with the NTG is expected to play a major role in delivering energy security for all Territorians”, he said. Tamboran said that through its subsidiaries, it is the largest acreage holder and operator with approximately 1.9

Aker BP ASA on Tuesday reported $2.53 billion in revenue for the second quarter, down from $3.15 billion for Q1 as production and prices fell. Net liquids and natural gas output averaged 415,000 barrels of oil equivalent a day (boed) in the April-June period, down from 441,400 boed in the prior three-month period. “The reduction was primarily driven by scheduled maintenance at Valhall and Ula. As a result, average production efficiency across the portfolio decreased slightly to 95 percent, from 97 percent in the previous quarter”, the Norwegian continental shelf explorer and producer said in its quarterly report. Despite the decrease in Q2 production, Aker BP raised its full-year production guidance to 400,000-420,000 boed from 390,000-420,000 boed. “The field development portfolio remains firmly on track. Updated baseline estimates confirm steady progress, with several smaller projects advancing ahead of schedule”, it said. Chief executive Johnny Hersvik said in a statement, “The final investment decisions on Johan Sverdrup Phase 3 and East Frigg this quarter further demonstrate our ability to turn strategy into action and lay the foundation for future growth”. Aker BP sold 413,800 boed net in Q2, down from 457,600 boed in Q1. Liquids accounted for 356,200 boed of Q2 sales. “The sales volume reflected an underlift of 1.1 mboepd [thousand barrels of oil equivalent per day], compared to an overlift of 16.1 mboepd in the previous quarter”, it said. Realized liquids prices averaged $66.9 per boe, down from $75 per boe in Q1. Realized gas prices dropped from $85.2 per boe to $68.7 per boe. The average production cost per barrel was $7.3, up from $6.5 in Q1. Aker BP logged a net loss of $324 million ($0.51 per share) for Q2, compared to a net profit of $316 million for Q1. It attributed the net loss to a

Iberdrola SA’s global renewable energy capacity grew to 45,082 megawatts (MW) in the first half of 2025 and now accounts for 79 percent of the Spanish utility’s total generation capacity. The first six months of the year saw a four percent growth in new capacity compared to the same period in 2024. Iberdrola’s total capacity reached 57,273 MW after 1,800 MW were installed in the first half of 2025. Production rose 2.3 percent year-on-year to 66,300 gigawatt hours (gWh). “By country, the production increases at Iberdrola Energía Internacional (+15.7 percent) stand out, thanks to the 68 percent growth in offshore wind farms in France and Germany; in Brazil (+11.7 percent), driven by higher hydroelectric production; and in Spain (+6.4 percent), with growth in both renewable technologies (especially solar) and nuclear and combined cycles”, it said in a statement online. Offshore wind output increased 42 percent in the second quarter compared to the same period last year, while solar generation in the second quarter climbed 57.4 percent year-on-year. Earlier its subsidiary Avangrid Inc. reported that Iberdrola’s total installed capacity in the U.S. reached approximately 10,500 MW in the first half of 2025. Iberdrola said it is “generating 91 percent of its production in Spain without emissions and 100 percent in countries such as the United Kingdom, the United States, Australia, Brazil, France, Italy, Germany, Poland, Portugal and Greece”. Iberdrola said it has set a new record in electricity distribution for the January-June period. Power distribution in the first half of 2025 exceeded 124,200 gWh, up 4.8 percent year-over-year. The United Kingdom led the growth, logging an increase of over 30 percent to more than 20,000 gWh thanks to the integration of Electricity North West Ltd. (ENW), Iberdrola said. Iberdrola acquired ENW last year for around EUR 5 billion ($5.8 billion), increasing the number of its UK

Dive Brief: Oregon lawmakers have passed two bills that experts say will make communities more resilient as the state’s grid faces rising electricity demand, more frequent extreme weather events and repeated public safety power shutoffs to mitigate wildfire risk. HB 2065 and HB 2066 establish “a first-in-the nation strategy to create a regulatory framework for building microgrids,” smaller-scale power networks that can operate independently from the main grid, Portland-based nonprofit Sustainable Northwest said June 27. “Oregon has passed the most ambitious microgrid legislation in the nation,” Dylan Kruse, president of nonprofit Sustainable Northwest, said in a statement. “These bills pave the way for clean energy innovation to support community resilience, energy independence, and cost savings across the state.” Dive Insight: The Oregon House of Representatives and Senate passed both measures with broad bipartisan support last month. Democratic Gov. Tina Kotek is expected to sign them soon, Kruse said in an email. HB 2065 aims to reduce bottlenecks to microgrid deployment by allowing third-party consultants or contractors to evaluate customer requests to connect to the public power grid and by requiring public utilities to approve or deny microgrid applications “based on safety, reliability and compliance with published standards.” HB 2066 directs the Oregon Public Utility Commission to establish a regulatory framework for community-owned and private microgrids. It also requires the Department of Consumer and Business Services to set rules allowing existing buildings to connect to community microgrids and allows local governments to designate “microgrid zones” with special land-use regulations, subject to local utility or OPUC approval. The two bills are more “ambitious and comprehensive” than other recent microgrid legislation, Kruse said in an interview. “We’ve seen other states take swings at pieces of this, but more in pilot form,” he said. Though implementation will likely take a year or two, depending on

President Donald Trump’s sweeping $3.4 trillion fiscal package is already creating opportunities for segments of the energy and climate industries that had fallen out of favor, struggled to grow or haven’t managed to break through. The tax and spending law signed on July 4 provides a lifeline to a coal industry that’s long been squeezed by cheaper renewable and natural gas-fired power. The law provides a boost to nuclear — a sector that had regained investor and political support before Trump’s return to the White House, but has yet to translate that enthusiasm into much domestic growth in electric capacity. And the law may actually help advance an unproven and risky planet-cooling system that has lived in the shadows for decades — geoengineering. Coal While Trump has consistently supported coal, the industry struggled during his first term. The new law, however, directly and indirectly takes steps to arrest its decline. The legislation phases out tax credits for wind and solar, which may diminish their economic edge over coal. It also adds metallurgical coal that’s used to make steel to the list of critical minerals qualifying for tax credits. The law is the latest Trump move to prop up the fossil fuel. In April, he signed an executive order pushing for coal-fired electricity for data centers. His administration also intervened to stop the retirement of a coal-fired power plant. Industry supporters hailed the decision as a way to cushion an occasionally stressed electric grid, but the carbon emissions from burning the dirtiest fossil fuel endanger the climate. Such a move also risks increasing local energy prices, says Leah Stokes, an associate professor at the University of California, Santa Barbara, who specializes in energy and climate change. Nuclear Just a few years ago, aging nuclear reactors were facing down extinction. Now, the AI boom has revived interest in carbon-free power plants capable of providing round-the-clock electricity, leading to efforts to revive two shuttered plants. But only two