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Mergers & Acquisitions

CNPC bids on Browse project

China National Petroleum Corp. (CNPC) has bid for a piece of Woodside Petroleum’s 50% share of the Browse LNG project off the north-west coast of Australia, Bloomberg reported on Wednesday.

22 February 2012
Mergers & Acquisitions

Centrica acquires North Sea oil and gas reserves for £246 million

Centrica, the parent company of British Gas, has increased its North Sea oil and gas assets with the purchase of Total E&P UK’s non-operated assets, which include seven North Sea oil and gas fields, for £246 million ($386 million).

22 February 2012
Mergers & Acquisitions

Talisman pulls Mitsubishi into its PNG LNG vision

Japan’s Mitsubishi has waded into Papua New Guinea’s rising gas sector with a $280 million deal for stakes in nine of Talisman’s onshore licences, the Canadian oil and gas company announced on Wednesday afternoon.

22 February 2012
Companies

The dangers of a hub-based pricing approach

Gazprom’s Head of Contract Structuring and Price Formation Sergei Komlev, talks in an exclusive interview about gas pricing in Europe and the future of oil-indexed contracts.

22 February 2012
Mergers & Acquisitions

Shell seeks Mozambique approval of Cove bid

Royal Dutch Shell unveiled a £992.4 million ($1.56 billion) proposed offer for Cove Energy, an East Africa-focused explorer, on Wednesday in a further sign of the excitement generated by the emerging gas play in Mozambique.

22 February 2012
Mergers & Acquisitions

Total looking to increase Ichthys stake

France’s Total is in talks with Japan’s Inpex about increasing its 24% stake in the $34 billion Ichthys LNG development in northern Australia to 30%, MarketWatch reported on Tuesday, citing Yves-Louis Darricarrère, Total’s president of exploration and production, gas and power.

21 February 2012
Companies

Mitsubishi’s American acquisition will not affect rating

Mitsubishi’s acquisition of a 40% stake in a North American shale gas development operated by Encana will not affect the Japanese company’s rating of A+/Stable/A-1, ratings agency Standard & Poor’s said on Tuesday.

21 February 2012
Mergers & Acquisitions

URS to buy Flint Energy Services

San Francisco-based construction company URS has agreed to buy Flint Energy Services for C$1.25 billion ($1.26 billion) in cash to add projects servicing oil and gas producers in western Canada, and in the south-west, Appalachian and Rocky Mountains regions of the United States.

21 February 2012
Mergers & Acquisitions

Fortis buys CH Energy

Newfoundland-based power and gas distributor Fortis said on Tuesday it had bought New York-based utility CH Energy Group in a cash and debt deal worth $1.5 billion.

21 February 2012
Results

Gas Natural posts net profit rise of 10.3%

Spanish utility Gas Natural Fenosa made a net profit of €1.3 billion ($1.7 billion) in 2011, up by 10.3% on the previous year, saying the increase was the result of its Latin American activities and its merger with Union Fenosa

21 February 2012
Companies

PGNiG files legal challenge to Gazprom prices

Poland's state-owned gas monopoly PGNiG has formally filed a claim in the arbitration court at Stockholm appealing for lower import prices from Russia's Gazprom the company said in a statement on Tuesday

21 February 2012
Companies

BG well placed for spending splurge

BG Group is invested in some of the world’s most prospective basins, but these interests also entail large capital expenditure commitments. Interfax looks at how the company intends to pay for these developments.

20 February 2012
Project Finance

Uzbekistan approves Ustyurt GCC financing scheme

Uzbekistan has approved a $4 billion financing scheme for the construction of the Ustyurt gas chemicals complex at the Surgil field, Uzbek oil and gas holding Uzbekneftegaz told Interfax.

20 February 2012
Companies

Macmahon Holdings secures marine supply base contract

Australian construction contractor Macmahon Holdings secured an A$100 million ($107.9 million) contract for work on the Darwin marine supply base, which will service the growing oil and gas industry there, the company announced on Monday.

20 February 2012
Companies

Thiess and EV LNG Australia win storage contract

A joint venture between construction contractors Thiess and EV LNG Australia has won a A$500 million ($539.3 million) contract to build two LNG storage and two condensate tanks for the Chevron-operated Wheatstone LNG project in Western Australia, Thiess announced on Monday.

20 February 2012
Mergers & Acquisitions

Abu Dhabi, Kuwait to buy stakes in ONGC

Sovereign wealth funds in Abu Dhabi and Kuwait, among others, have told the Indian government that they would buy the 5% stake in Oil and Natural Gas Corp. (ONGC) the government is planning to sell in a public offering, The Economic Times reported on Monday.

20 February 2012
Companies

Apache to increase Egypt investment

United States group Apache’s Chairman and Chief Executive G. Steven Farris pledged to spend $1 billion on oil and gas development in Egypt next year at a press conference in Cairo on Sunday, according to a report from the Kuna news agency.

20 February 2012
Companies

Northern Petroleum to increase production

Northern Petroleum said in a shareholder update on Monday that it plans to increase gas production across its licenses in the Netherlands, in an attempt to prevent “natural decline” in production at these wells.

20 February 2012
Companies

IEC confirms Tamar gas agreement

The board of directors for state-owned Israel Electricity Corp. (IEC) confirmed an agreement on Sunday for the offtake of gas from Israel’s Tamar gas field, a company spokesperson told Interfax on Monday.

20 February 2012
Companies

Falklands could recieve $177 billion in tax and royalties from oil and gas

The Falkland Islands could eventually reap $177 billion in tax and royalties from oil and gas production, UK newspaper The Sunday Times has reported, quoting research by London-based Edison Investment Research.

20 February 2012

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