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HomeDaily NewsTuesday, July 22, 2025Corporate Developments in Energy and Technology
Business & Economy2 stories from 1 sources

Corporate Developments in Energy and Technology

Gulf Energy set to acquire Tullow Oil Kenyan assets; OpenAI signs deal with UK to use AI in public services.

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Tuesday 4:25 PMCapital Business

Gulf Energy to acquire Tullow Oil Kenyan assets after deal

Gulf Energy to acquire Tullow Oil Kenyan assets after deal

Auron Energy E&P Limited, part of Gulf Energy, is set to acquire Tullow Oil's Kenyan assets in a transaction valued at $120 million.

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Key Highlights

Auron Energy E&P Limited, part of Gulf Energy, is set to acquire Tullow Oil's Kenyan assets in a transaction valued at $120 million.

  • Payments include an initial $40 million upon completion, followed by further payments due by 2026 and 2028.
  • Richard Miller, Chief Financial Officer and Interim Chief Executive Officer of Tullow, highlighted the strategic importance of the deal.
  • The acquisition aligns with Tullow's goal to improve its balance sheet and is part of a broader strategy to optimize capital structure in 2025.
Tuesday 12:36 PMCapital BusinessFirst

OpenAI, UK sign deal to use AI in public services

OpenAI, UK sign deal to use AI in public services

OpenAI has signed a deal with the UK government to utilize artificial intelligence in improving public services across various sectors, including education and security.

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Key Highlights

OpenAI has signed a deal with the UK government to utilize artificial intelligence in improving public services across various sectors, including education and security.

  • The agreement allows OpenAI to access government data as it aims to enhance productivity and economic growth.
  • Key figures include Peter Kyle, Technology Secretary, and Sam Altman, OpenAI chief executive, who stated that AI is vital for nation building.
  • The partnership may lead to the development of an “information sharing programme” and investment in AI infrastructure, with plans to expand OpenAI's London office.
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