- Business
- Zenith Energy Ltd. is an independent energy company focused on the exploration, development, and production of oil and natural gas, as well as electricity generation from natural gas and renewable sources; it produces condensate, engages in oil and gas drilling, oil trading, and software development related to energy operations. The company holds a portfolio of assets including 100% interests in the onshore Robbana and offshore El Bibane concessions in Tunisia through its subsidiary Ecumed Petroleum Tunisia Limited, natural gas and solar energy production assets in Italy with a 50 MWp solar project pipeline, and pursues international arbitration claims valued at approximately US$640 million against the Republic of Tunisia and its national oil company ETAP. Zenith Energy Ltd. operates primarily in Tunisia, Italy, and internationally, targeting revenue-generating opportunities in oil, gas, and electricity production with low-risk exploration activities. Incorporated in 2007 and formerly known as Canoel International Energy Ltd. until its name change in October 2014, the company is headquartered in Calgary, Canada. Recent developments include its expansion into renewable energy production since 2025 with solar projects in Italy, the acquisition of a solar and energy storage project for EUR 875,000 to enhance its portfolio and profitability through battery energy storage systems (BESS), listing of Swedish Depository Receipts on the Spotlight Stock Market in Sweden, updates on international arbitration proceedings such as the ICC-2 annulment application, payment of its 2027 multi-currency bond coupon, and announcements regarding the construction and financing of ready-to-build solar energy projects.