Google acquired smart thermostat startup company Nest for $3.2 billion in cash. Nest had been working on a reported $150 million financing round that would have valued the firm at $2 billion. CEO Tony Fadell – a former Apple SVP – said on the company’s blog “We’ve had great momentum, but this is a rocket ship.” [Smart Planet]

This very interesting piece suggests Iran could significantly ramp up its oil production and exports in fairly short order post sanctions, causing friction within Opec. With some help from international oil companies the country could also finally get its ambitious gas projects off the ground. Production-sharing contracts could even be considered for some border fields. Shell and Eni have reportedly had encouraging initial discussions with Iran’s oil industry leadership. [Lobe Log]

Major EPC firm Foster Wheeler appears set to be acquired by competitor Amec. “The deal values each Foster Wheeler share at $32.40 and the fully diluted share capital of Foster Wheeler at about $3.3 billion, according to Foster Wheeler’s statement.” [Houston Business Journal]