Luda Technology Group Limited (LUD) Signs MOU for Proposed $14.0M Mining Rights Deal

Luda Technology Group (AMEX:LUD) said it will supply pipeline fittings worth about 1.6 billion yuan, or $240 million, to Shandong Yulong Petrochemical for the first phase of the Yulong Island refining and chemical project. The company said the award builds on a prior stainless steel flanges tender and could support financial performance. Shares were up 9.34% to $4.50.

Mitsubishi Corporation will sell a 49.9% stake in its LNG Canada subsidiary to a Blackstone-led group for $1.6 billion. Mitsubishi retains a 50.1% stake. The deal supports LNG Canada's expansion, doubling its export capacity. Blackstone's group includes Canadian institutional investors. LNG Canada is a major export project with Shell, Petronas, PetroChina, Mitsubishi, and Korea Gas Corporation as partners.

ExxonMobil increased its stake in the Rovuma LNG project to 50% by swapping assets with Eni. The $30B project, involving ExxonMobil, Eni, and CNPC, aims to produce 18.6M tonnes of LNG annually, with first operations planned for 2031. ExxonMobil committed $1.1B to early contracts, signaling confidence in the project's timeline and market demand.

TotalEnergies (TTE) will buy a 30% stake in the Lang Lebah and B14 gas fields offshore Malaysia from PETRONAS Carigali, PTTEP, and KUFPEC. The fields will be developed together to boost production. According to TotalEnergies, this acquisition supports its strategy in Asia and its goal to supply the growing LNG market. The transaction is subject to regulatory approvals and is expected to close in 2024. The company did not disclose the financial terms of the deal.

Volaris Group Inc. subsidiary, VLRS GRP BidCo, received FDI approval for its SEK 45.5 per share cash offer to acquire Triona AB, a company listed on NGM Growth Market. The offer period ends Nov. 12, 2026, with settlement expected around Nov. 23, 2026, pending other conditions. Volaris BidCo may extend or shorten the acceptance period.

TotalEnergies (TTE) signed agreements to acquire a 30% stake in Malaysia's Lang Lebah and B14 gas fields, with the project expected to unlock 6.5 trillion cubic feet of gas resources. The deal, pending regulatory approval, involves PETRONAS Carigali, PTTEP, and KUFPEC, and aims to supply gas to Malaysia LNG and Asian markets. This follows TotalEnergies' 2024 acquisition of SapuraOMV assets and 2025 partnership expansion with PETRONAS.