US Monetary Policy and Crude Oil Prices
Facing a tough situation where shale oil prices are depressed due to a lack of infrastructure to send them to the US Gulf Coast for processing and export, independent US shale drillers are facing financial pressure as loans are no longer handed out like candy and investors are demanding results. ...
Total has signed an agreement to divest a 4% interest in the Ichthys liquefied natural gas (LNG) project in Australia to operating partner INPEX for an overall consideration of 1.6 billion USD. The transaction, which is subject to Australian regulatory approvals, reduces Total's interest in the ass ...Shell Completes Divestment of Upstream Interests in Ireland for up to $1.30 Billion
Royal Dutch Shell plc (Shell), through its affiliate Shell Overseas Holdings Limited, has completed the sale of its shares in Shell E&P Ireland Limited (SEPIL), which holds a 45% interest in the Corrib gas venture, for up to $1.30 billion (€1.14 billion), to Nephin Energy Holdings Limited (NEHL), a ...Shell Completes Sale of Draugen and Gjøa Interests to OKEA
A/S Norske Shell has completed the sale of its interests in the Draugen and Gjøa fields in Norway for 4,52 Billion NOK (~US$526 million*) to OKEA AS. With the deal completion, Shell exits its 44.56% operated interest in the Draugen field and 12% non-operated interest in the Gjøa field, representin ...OMV Agrees to Divest Parts of its Upstream Business in Tunisia
OMV, the international integrated oil and gas company based in Vienna, has reached an agreement to sell its 100% owned subsidiary, OMV Tunisia Upstream GmbH, to a subsidiary of Panoro Energy ASA, an Oslo-listed, London-based international independent oil and gas company. OMV Tunisia Upstream Gm ...Wärtsilä Divests its Pumps Business
The technology group Wärtsilä has divested its pumps business to Solix Group, a Scandinavian investment company with offices in Copenhagen, Denmark and Malmö, Sweden. Wärtsilä Pumps has belonged to the Wärtsilä Marine Solutions organisation and became part of the company along with the acquisition ...TomCo Energy (AIM: TOM): Fund Raise & Disposal of interest in Red Leaf Resources
TomCo Energy plc (AIM: TOM) , the oil shale exploration, development and technology group focused on using innovative technology to unlock unconventional hydrocarbon resources, announces that it has raised £100,000 through the subscription of 1,176,471 new ordinary shares of no par value (" ...Whitebark Sells TP-15 Interest For Up To $5m
Funds to be invested into advancing Canadian JV's 100 million barrel exploration opportunities and strategic acquisitions Whitebark has executed a Sale and Purchase Agreement to sell its 15% interest in TP-15 to Triangle Energy (Global) Ltd for up to $5m. The offer structure allows Whi ...Petrofac: Completion of Sale of 49% of Mexico Operations
Petrofac has completed the sale of 49% of the Company's operations in Mexico to Perenco (Oil & Gas) International Limited (“Perenco”), following approval from the Federal Competition Commission of Mexico (COFECE). Under the terms of the sale, announced on 30 July 2018, Petrofac has been paid an in ...Shell Agrees to Sell Upstream Interests in Denmark to Noreco for $1.9 Billion
Royal Dutch Shell plc (Shell), through its affiliate Shell Overseas Holdings Limited, has reached an agreement with publicly listed Norwegian Energy Company ASA (Noreco), to sell its shares in Shell Olie-og Gasudvinding Danmark B.V. (SOGU) for a consideration amount of $1.9 billion. SOGU is a wholl ...Equinor Focuses NCS Portfolio Through Sale of Non-Core Discovery
Equinor has signed an agreement with Aker BP to sell its 77.8% operated interest in the King Lear discovery on the Norwegian Continental Shelf (NCS) for a total of USD 250 million. “This transaction is a further example of our strategy of capturing value from active portfolio management thro ...Gazprom and OMV Sign Basic Agreement on Asset Sale
Alexey Miller , Chairman of the Gazprom Management Committee, and Rainer Seele, Chairman of the Executive Board of OMV, today signed in St. Petersburg a Basic Agreement on Asset Sale. The signing ceremony took place in the presence of Vladimir Putin, President of the Russian Federation, and Sebas ...Ashurst Advises on the Proposed Sale of Merlon Petroleum to SOCO
International law firm Ashurst is advising Merlon International LLC, a Delaware company, in relation to the agreement to sell its subsidiary company Merlon Petroleum El Fayum Company, which owns oil & gas assets in Egypt, to SOCO International plc, which is listed on the Official List in London. ...Ørsted Divests 50% of Hornsea 1 Offshore Wind Farm
Ørsted has signed an agreement to sell 50% of the 1,218MW offshore wind farm Hornsea 1 to Global Infrastructure Partners (GIP). Hornsea 1 is under construction and will be the world's largest offshore wind farm when commissioned in 2020. As part of the agreement, Ørsted will construct the wind far ...Santos Completes Sale of Non-Core Asian Assets
Santos announced in May 2018 the sale of its non-core Asian portfolio to Ophir Energy plc. Santos today advised completion of the sale of the producing assets has occurred (1). Santos has received cash proceeds of US$144 million at completion, which represents the sale price of US$221 million afte ...
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Keeping the oil business in the family
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Uganda’s Second Oil and Gas Licensing Round Will Attract Investment, Infrastructure Development
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Oil Dynamics: Providing artificial lift systems for geothermal applications
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Africa Oil & Power