BP Plc has agreed to dilute its stake in the A$48.7 billion Browse natural gas project by selling 5% to South Korea’s GS Energy Corp. BP will retain a 39.33% working interest in Browse, according to an emailed statement from the company. The deal comes just weeks after Japan’s Inpex Corp. agreed to buy a 10.67% stake in the project from PetroChina Co. Browse is one of the biggest projects in Austr...
BP Plc has agreed to dilute its stake in the A$48.7 billion Browse natural gas project by selling 5% to South Korea’s GS Energy Corp. BP will retain a 39.33% working interest in Browse, according to an emailed statement from the company. The deal comes just weeks after Japan’s Inpex Corp. agreed to buy a 10.67% stake in the project from PetroChina Co. Browse is one of the biggest projects in Australian history, but has faced criticism for its plan to drill near the ecologically sensitive Scott Reef in the Indian Ocean and hasn’t yet received environmental approval. “BP and its partners continue to see long-term value in the project, including its role in supporting energy security in Australia and the region,” the company said in its statement. The transaction is conditional upon regulatory and joint venture approvals, it said. The move comes as Asian liquefied natural gas importers are diversifying supplies away from the Middle East, as the closure of the Strait of Hormuz chokes off about a fifth of global exports.
South Africa’s antitrust watchdog has accused pharmaceutical company Adcock Ingram Holdings Ltd. of profiteering from the Covid-19 pandemic, according to people familiar with the matter. The Competition Commission’s allegations against the company include that it failed to pass on significant pricing benefits and discounts provided by medical-technology company Baxter International Inc. for vital ...
South Africa’s antitrust watchdog has accused pharmaceutical company Adcock Ingram Holdings Ltd. of profiteering from the Covid-19 pandemic, according to people familiar with the matter. The Competition Commission’s allegations against the company include that it failed to pass on significant pricing benefits and discounts provided by medical-technology company Baxter International Inc. for vital dialysis machines and related drugs during the health crisis, said the people who asked not to be identified as the information isn’t public. The penalty for such offenses is as much as 10% of annual revenue or more for repeat offenders, the people said. The commission will refer the case to the Competition Tribunal for prosecution, the people said. Johannesburg-based Adcock is jointly owned by South Africa’s Bidvest Group Ltd. , with a 64.3% majority stake, and India’s Natco Pharma Ltd. , which acquired the remaining shares last year. Adcock subsequently de-listed from the Johannesburg Stock Exchange . Adcock referred a request for comment to Bidvest, which said it could not comment on the matter. The Competition Commission also said it couldn’t comment at this stage. The pharmaceutical company reported total sales of 9.76 billion rand ($602 million) in the year through June 2025. In 2008, Adcock’s critical-care unit admitted to price-fixing and collusive tendering for state hospital contracts. At the time, it was forced to pay a 53.5 million-rand penalty. In 2017, the company was hit with a fine for allegedly unlawfully pre-implementing a merger structure with Bidvest before receiving formal regulatory approval. The firm settled without accepting the charges at the time. Sign up here for the daily Next Africa newsletter and subscribe to the Next Africa podcast on Apple , Spotify or anywhere you listen .
SpaceX's upcoming initial public offering (IPO) continues to dominate financial headlines. That isn't surprising, considering that the space technology company plans to launch with a valuation of around $1.8 trillion and is one of multibillionaire Elon Musk's top investments . However, many investors are overlooking another company that filed its IPO paperwork the same week as SpaceX. Oura, which ...
SpaceX's upcoming initial public offering (IPO) continues to dominate financial headlines. That isn't surprising, considering that the space technology company plans to launch with a valuation of around $1.8 trillion and is one of multibillionaire Elon Musk's top investments . However, many investors are overlooking another company that filed its IPO paperwork the same week as SpaceX. Oura, which makes smart rings that monitor health and sleep, announced on May 21, 2026, that it had submitted a confidential IPO filing to the U.S. Securities and Exchange Commission (SEC). Although Oura's market cap will be only a fraction of SpaceX's, this IPO stock could have much greater upside. Image source: Getty Images. Continue reading
Filing for Social Security is a major milestone. And after many years of paying into the program, you deserve to start collecting those monthly benefits . But before you file for Social Security in June, it's important to tackle a few key tasks. Doing these three things could help you claim benefits more confidently. Image source: Getty Images. Continue reading
Filing for Social Security is a major milestone. And after many years of paying into the program, you deserve to start collecting those monthly benefits . But before you file for Social Security in June, it's important to tackle a few key tasks. Doing these three things could help you claim benefits more confidently. Image source: Getty Images. Continue reading