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Trump and Johnson to Meet Tech CEOs on AI Safety as PayPal Rises on Takeover Talk
President Donald Trump and House Speaker Mike Johnson plan to host leading technology executives at the White House on Tuesday, Sept. 29, for discussions on artificial intelligence safety and potential government oversight. The meeting follows rising concerns from experts about AI's destructive potential without proper guardrails, though Trump has dismissed such warnings as a "hoax" while emphasizing the need for U.S. firms to outpace China in the AI race. Separately, PayPal shares rose 1.2% on renewed acquisition speculation after traders cited a Betaville report indicating an unnamed West Coast technology company may be evaluating an all-stock takeover of the fintech firm, though the PayPal board is said to prefer an all-cash deal; the speculation follows the collapse of talks between a Stripe and Advent consortium, which had considered offering as much as $68 per share in cash but abandoned the pursuit last month after negotiations stalled over a $2 billion breakup fee. U.S. front-month Nymex natural gas futures dropped 5.5% to $3.115/MMBtu on Friday, reversing much of Thursday's 9% surge that followed a force majeure on TC Energy's Mountaineer Xpress pipeline in West Virginia, where the leak had cut firm transportation service by 1.8 Bcf/day, affecting roughly 1.5% of total U.S. Lower-48 gas supply. Short-squeeze risk remains elevated across major bitcoin-linked equities, according to S3 Partners Director of Research Leon Gross, with Strategy, Strive, and Coinbase each showing return correlations above 0.70 with bitcoin while short interest hovers near 10-13% of float for Strategy and Coinbase.
INPEX Raises Ichthys LNG Stake to 68.555% After Exercising Pre-Emptive Rights
Japan's INPEX has agreed to acquire an additional 0.735% interest in the Ichthys LNG project in Australia from subsidiaries of JERA, lifting its participating interest from 67.82% to 68.555% subject to Australian regulatory approvals. The acquisition covers JERA's interest in offshore blocks WA-50-L and WA-51-L, which contain the Ichthys gas-condensate field, as well as its stake in Ichthys LNG Pty Ltd, the company that owns the project's export pipeline and downstream liquefaction facilities. The deal stems from JERA's December 2025 agreement to sell its Australian project subsidiary, including the 0.735% Ichthys interest, to MidOcean Energy, and INPEX elected to exercise its pre-emptive rights over the stake under the project's joint operating and shareholder agreements. Ichthys, operated by INPEX, has LNG production capacity of around 9.3 million metric tons per year, alongside approximately 1.65 million tons of LPG and peak condensate production of about 100,000 barrels per day, with production having begun in 2018. Sales contracts cover about 8.4 million tons of annual LNG production, with roughly 70% destined for Japanese buyers, and annual Ichthys output is equivalent to more than 10% of Japan's LNG imports. The purchase continues INPEX's gradual consolidation of Ichthys, following its 2024 agreement to acquire Tokyo Gas' 1.575% interest, which raised its ownership from 66.245% to the current 67.82%, and INPEX said the additional JERA stake fits its Vision 2035 strategy and expects only a minimal effect on its consolidated financial results.
Eni Secures 100% Interest in Indonesia's Sapukala Offshore Block
Eni S.p.A. has secured a 100% participating interest in the Sapukala offshore exploration block in Indonesia's Kutei Basin, East Kalimantan, where water depths run approximately 1,000-2,500 meters. The award follows a joint study by Eni with a well-known Indonesian academic institution and participation in the country's direct-offer tender process. The block sits close to the planned North Hub developments, operated by Searah, the 50:50 joint venture between Eni and Malaysia's PETRONAS, which include major gas and condensate discoveries such as Geng North, Gula and Geliga. Under the initial three-year program disclosed by Indonesia, Eni was responsible for geological and geophysical studies and for acquiring and processing 3D seismic data covering 1,500 square kilometers of the block, work the company says will guide future drilling and investment decisions. Eni has operated in Indonesia since 2001 and currently runs the Peri-Mahakam and Makassar Strait blocks directly.
