Companies & Finance

Mergers & Acquisitions

Browse’s future brightens with Woodside’s stake sale

After a troubled year, Woodside Petroleum has reached a deal to sell a stake in its Browse LNG project to Japan’s Mitsui and Mitsubishi. The sale gives the company’s ratings a boost, and bodes well for a project that has been bogged down by regulatory and budgetary problems.

1 May 2012
Results

BP shares drop after disappointing results

BP reported a 25% drop in first quarter net profit from $7.3 billion to $5.9 billion on Tuesday because of a poor downstream environment and lower output in the upstream portion of the business.

1 May 2012
Results

Japanese utilities hit by huge losses

Two of Japan’s largest utilities suffered “huge” losses during the 2011 fiscal year because of idled reactors and rocketing fuel costs.

1 May 2012
Results

PGN resisters 8.8% revenue increase

Indonesia’s Perusahaan Gas Negara (PGN) registered an 8.8% year-on-year increase in revenues in the first quarter of 2012, reaching $582.1 million, The Jakarta Post reported on Tuesday.

1 May 2012
Mergers & Acquisitions

Energy Transfer Partners to buy Sunoco for $5.3 billion

Energy Transfer Partners has agreed to buy Sunoco for $5.3 billion in a bid to add new oil, oil product, and NGL pipelines and facilities to its existing gas-heavy inventory of assets.

30 April 2012
Results

Dana Gas production up, but still waiting on KRG, Egypt payments

Dana Gas boosted oil and gas production in its three countries of operation over 2011 - Egypt, the Kurdistan Region of Iraq and the United Arab Emirates –but the company is still struggling to recover money owed by both the Egyptian government and the Kurdistan Regional Government

30 April 2012
Mergers & Acquisitions

Energy Transfer Partners to buy Sunoco

Texas-based Energy Transfer Partners (ETP) has agreed to buy logistics and retail company Sunoco for $50.13 per share, or $5.3 billion, to expand its position in the transport of crude, refined products and NGLs.

30 April 2012
People

Former head of Libya’s National Oil Corp found dead in Austria

Libya’s former Prime Minister Shokri Ghanem was found dead in Austria over the weekend, Bloomberg reported on Sunday.

30 April 2012
Companies

InterOil signs HoA with Pacific Rubiales Energy

InterOil has signed a heads of agreement with Canada’s Pacific Rubiales Energy, under which Pacific Rubiales could buy a 10% net participating share in a Papua New Guinea petroleum prospecting licence for $116 million, InterOil said on Monday.

30 April 2012
Results

Chinese gas stocks rise in April

Chinese gas stocks edged higher during the month of April, buoyed by positive first quarter results from a number of firms.

30 April 2012
Mergers & Acquisitions

Sinopec pays Devon Energy for US shale stake

Less than a week after its negotiations to purchase a controlling stake in YPF were scuppered by nationalisation, Sinopec announced it had part-completed the acquisition of a stake in five of Devon Energy’s shale gas blocks in the US.

30 April 2012
Mergers & Acquisitions

Chinese bidders circling BG’s QCLNG stake sale

China Investment Corp. (CIC) has been added to a growing list of companies rumoured to be considering bidding for an equity stake in BG Group’s Queensland Curtis LNG (QCLNG) project in Queensland, according to media reports late last week.

30 April 2012
Project Finance

China Investment Corp. holds talks with BG on QCLNG

China Investment Corp., the country’s sovereign wealth fund, has held talks with BG Group to acquire an interest in the British company’s QCLNG project in Australia, Reuters reported on Friday, citing sources familiar with the matter.

27 April 2012
Results

Tokyo Gas sales up in volume and value in 2011

Tokyo Gas’ sales grew in volume and value in 2011, rising by 14.3% year-on-year in 2011 to bring in ¥1,754.2 billion ($21.74 billion), the company said in its earnings statement released online on Friday.

27 April 2012
Project Finance

Orascom signs $363 million contract to build 1,000 MW Iraqi power plant

Egypt’s Orascom Construction Industries has formally signed a $363 million contract to build a 1,000 MW gas turbine power plant in Baija, Iraq.

27 April 2012
Mergers & Acquisitions

Tanzania government approves purchase of Tanzania Mnazi Bay Ltd.

The Tanzanian government has approved the Wentworth’s purchase of Cove Energy Tanzania Mnazi Bay Ltd (CETMBL), Wentworth said in a statement.

27 April 2012
Project Finance

Lenders sign off on Antipinsky refinery financing

A $750 million debt facility has been secured for the Antipinsky refinery project in Russia, near the Siberian city of Tyumen.

27 April 2012
Mergers & Acquisitions

Novatek eyes the Mediterranean, North Africa

Novatek is eyeing investment opportunities in the Mediterranean and North Africa, including the forthcoming bid round in Cyprus, the company chief executive said on Friday.

27 April 2012
Mergers & Acquisitions

YPF cash could be drained for Argentina’s LNG bill

It is still unclear who will pay for LNG imports when YPF replaces Enarsa, but a source close to Repsol, speaking on condition of anonymity, was in no doubt on Friday.

27 April 2012
Results

Price caps squeeze Q1 profits for state-owned Chinese majors

The listed arms of state-owned energy giants China National Petroleum Corp. (CNPC) and Sinopec announced mixed first quarter (Q1) results on Thursday.

27 April 2012

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