BP and XRG Close Deal to Launch Arcius Energy in Egypt

Zacks12-17

BP plc (BP) and XRG, the international energy investment arm of ADNOC, have officially launched their new joint venture, Arcius Energy, following the financial closure of the deal. The platform, ...

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This marks a milestone in the 50-year partnership between BP and ADNOC, aligning with their strategic goals to build a competitive and sustainable energy future.Arcius Energy is structured as a 51-49% partnership, with BP holding the majority stake. Leveraging BP’s extensive technical expertise and XRG’s transformative investment capabilities, the venture aims to establish a competitive natural gas portfolio. 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This marks a milestone in the 50-year partnership between BP and ADNOC, aligning with their strategic goals to build a competitive and sustainable energy future.\nArcius Energy is structured as a 51-49% partnership, with BP holding the majority stake. Leveraging BP’s extensive technical expertise and XRG’s transformative investment capabilities, the venture aims to establish a competitive natural gas portfolio. BP’s experience spans over six decades of operations in Egypt, producing around 70% of the country’s gas.\nThe partnership includes BP’s interests in key Egyptian concessions, including Shorouk, home to the prolific Zohr field, and North Damietta, which hosts the Atoll field. These assets will be managed through Arcius Energy’s operational framework, alongside exploration agreements in promising areas like North El Tabya and North El Fayrouz.\nMurray Auchincloss, CEO of BP, highlighted the collaboration as a pivotal step, emphasizing the strong partnership with ADNOC and XRG and BP’s established expertise in Egypt to drive international natural gas growth.\nH.E. Dr. Sultan Ahmed Al Jaber, executive chairman of XRG, expressed support for the venture, noting its alignment with XRG's goals to advance energy system transformation and enhance access to cleaner, more affordable energy for Egypt and the wider region.\nArcius Energy’s leadership team includes Naser Saif Al Yafei, CEO, and Katerina Papalexandri, CFO, who bring decades of expertise from ADNOC and BP. Their leadership is expected to drive the platform’s success in delivering sustainable energy solutions.\nBeyond Egypt, BP and ADNOC continue collaborating on transformative projects, such as the Ruwais LNG initiative, which aims to create a 9.6 million tons per annum liquefaction facility. These efforts reflect the partners’ shared vision of enhancing natural gas capacity while supporting global decarbonization efforts through initiatives like the Oil and Gas Decarbonization Charter.\nArcius Energy’s establishment highlights BP and XRG’s commitment to addressing growing energy demands with innovative and sustainable solutions, strengthening their leadership roles in the global energy transition.\nBP’s Zacks Rank & Key Picks\nBP currently carries a Zack Rank #3 (Hold).\nInvestors interested in the energy sector may look at some better-ranked stocks like TechnipFMC plc FTI, FuelCell Energy FCEL and Nine Energy Service NINE, each presently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nTechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. It focuses on the subsea segment in offshore basins worldwide. FTI’s growing backlog ensures strong revenue visibility and supports margin improvements.\nFuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impact of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.\nNine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. The company operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the demand for NINE’s services is anticipated to increase, which should position the company for growth in the long run.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBP p.l.c. (BP) : Free Stock Analysis Report\nTechnipFMC plc (FTI) : Free Stock Analysis Report\nFuelCell Energy, Inc. (FCEL) : Free Stock Analysis Report\nNine Energy Service, Inc. (NINE) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492796805"}