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Project Finance

Lukoil closes debt package for Uzbekistan project

Lukoil Overseas Uzbekistan, a wholly owned subsidiary of Russia's Lukoil, signed an agreement with a consortium of banks in late March to raise a loan of up to $500 million for the development of the Kandym-Khauzak-Shady project in Uzbekistan.

13 April 2012
Companies

Chesapeake to raise $2.6 billion from monetisation deals

Chesapeake is raising $2.6 billion from three monetisation deals.

13 April 2012
Mergers & Acquisitions

Marathon Oil to sell bulk of Alaska assets

US independent Marathon Oil has agreed to sell the bulk of its Alaska assets to privately held Hillcorp for an undisclosed sum.

13 April 2012
Results

India’s sovereign risk drags down ONGC, Gail ratings

Moody’s Investor Services has downgraded India’s two largest state-run oil and gas players – Oil and Natural Gas Corp. (ONGC) and Gail – as a result of the country’s weaker sovereign credit, although both companies are still rated higher than India.

13 April 2012
Mergers & Acquisitions

Browse delay gives Woodside time to find new stakeholder

The federal and Western Australian (WA) governments’ approval of Woodside Petroleum’s request to delay the Browse LNG Development’s final investment decision (FID) will make it easier for the operator to sell part of its stake, but the project and its operator are still hampered by high costs and land issues.

11 April 2012
Mergers & Acquisitions

Chesapeake and Encana build drilling war chests with asset sales

Independents Encana and Chesapeake announced asset sales on 9 April with a combined value of almost $3 billion, revealing that the North American mergers and acquisition (M&A) market remains in rude health.

11 April 2012
People

Former TNK-BP executive takes on Matra stake

The former deputy chief executive of BP's Russian joint venture, TNK-BP, who left the group in October 2011, has made a comeback by buying into minnow explorer Matra Petroleum, which he may turn into a bid vehicle.

11 April 2012
Project Finance

SOCAR to sign gas agreement with BP in 2012

The State Oil Company of the Azerbaijani Republic (SOCAR) has said a new production sharing contract will be signed with BP and other companies exploring the Azeri-Chirag-Guneshli (ACG) fields before the end of this year.

11 April 2012
Project Finance

Aker secures equipment and installation contract in Egypt

Aker Solutions has secured a two-year contract with Egypt’s Badr Petroleum to supply all its surface wellhead equipment, installation and lifecycle services in the Egypt’s Western Desert.

11 April 2012
Project Finance

Abraaj Capital to invest in Kuwait Energy

Private equity manager, Abraaj Capital, has announced an agreement to invest in Kuwait Energy.

10 April 2012
Mergers & Acquisitions

Chariot Oil & Gas to take 90% operating stake in block offshore Mauritania

Africa-focused independent Chariot Oil & Gas will take a 90% operating stake in a block offshore Mauritania, the company said in a statement on Tuesday.

10 April 2012
Mergers & Acquisitions

Gazprom makes preliminary offer to buy DEPA

Gazprom has made a preliminary offer to buy the Greek gas monopoly DEPA, Gazprom Deputy Chief Executive Alexander Medvedev told the press on Saturday.

10 April 2012
Project Finance

BG Group to invest $2 billion in Brazil R&D

BG Group will invest $2 billion for research and development in Brazil by 2020, the Financial Times reported on Monday.

10 April 2012
Mergers & Acquisitions

Penn Virginia acquires Chief Gathering

Penn Virginia Resource Partners announced on Monday that it has acquired pipeline company Chief Gathering, which has assets in the Marcellus shale formation, for $1 billion.

10 April 2012
Project Finance

Chesapeake raises $2.6 billion

Chesapeake is raising $2.6 billion from three deals. The company sold preferred shares in a new subsidiary with 245,000 acres (991 square km) in the Cleveland and Tonkawa liquids-rich tight sands, and a 3.75% overriding royalty interest in the first 1,000 net wells drilled in the plays, to a Blackstone-led investment group for $1.25 billion.

10 April 2012
Mergers & Acquisitions

Cove clears tax hurdle in Mozambique

The sale of Cove Energy cleared a major hurdle on Tuesday as management published details of a tax agreement with the Mozambique government.

10 April 2012
Mergers & Acquisitions

Oman LNG, Qalhat LNG mull merger

Oman’s two LNG exporters, Oman LNG and Qalhat LNG (QLNG), are discussing a possible merger, the Middle East Economic Survey (MEES) reported on Sunday. The combined company could give Oman more weight in the global LNG market, as well as cut costs, Brian Buckley, Oman LNG’s general manager and chief executive, was reported as saying. The deal co

10 April 2012
Mergers & Acquisitions

Pertamina Hulu Energi to buy stakes in Asia Pacific blocks

Indonesia’s state-run Pertamina Hulu Energi plans to buy stakes in eight oil and gas blocks in Asia Pacific, The Jakarta Post reported on Saturday.

10 April 2012
Project Finance

South Stream appoints key advisers for financing

The Gazprom-led South Stream project company has appointed a trio of financial institutions to advise on the financing of the Black Sea portion of the multi-billion euro gas pipeline.

5 April 2012
Mergers & Acquisitions

Shell reduces stake in Woodside Petroleum

Royal Dutch Shell has reduced its stake in Perth-based Woodside Petroleum to 23.3% from 24.3%, Woodside informed the Australian Stock Exchange on Thursday.

5 April 2012

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