Oil holds above $105 as demand for fuels offsets China lockdowns
Oil held gains above $105 a barrel as investors weighed higher demand for refined products against a slew of lockdowns in major cities in China.
Markets
Finder Energy acquires acreage around the giant CNOOC Buzzard field
Finder Energy has acquired further acreage around the CNOOC Buzzard field in the Central North Sea.
Higher prices ‘undoubtedly’ encourage investment as North Sea eyes up to 20 billion more barrels
Energy Voice talks to Jason Fox, Managing Partner, London, and Alastair Young, Partner, at Bracewell (UK) LLP on the future of North Sea investment as Brent crude oil remains at around $100.
Oil sinks below $100 as China’s lockdowns imperil demand outlook
Oil pushed lower at the start of the week on concerns that a spreading Covid-19 outbreak in China will weigh on global demand.
Ithaca aiming for ‘support from all parties’ on Cambo push
The chairman of Ithaca Energy, soon to be the new operator of the controversial Cambo oilfield, has said the firm wants open dialogue with environmentalists and other parties on its future.
Ithaca Energy to buy Cambo operator Siccar Point in $1.5 billion deal
Ithaca Energy has struck a deal to buy Siccar Point Energy, operator of the controversial Cambo project, for just shy of $1.5 billion.
EV Private Equity on impact investing and the energy transition
EV Private Equity co-founder Helge Tveit explains the company’s philosophy of impact investing, and why the energy transition provides greater opportunities.
Opportunities abound for energy M&A deals in Asia Pacific
Opportunities abound for mergers and acquisitions across energy-hungry Asia Pacific nations, as majors, such as Chevron, Shell, and ExxonMobil, seek to exit or rationalise their upstream portfolios.
M&A: North Sea deals won’t rush to meet oil price surge
Firms won’t be rushing into deals or investment off the back of higher oil and gas prices – the boom may even be stalling such activity in the North Sea, according to top analysts.
The clean energy funds financing the future
Transforming the global energy system is going to take mammoth investments on three fronts - time, effort, and perhaps most important of all, money.
Ithaca Energy buys Summit Exploration’s North Sea business for $224m
Ithaca Energy has struck a deal to acquire North Sea player Summit Exploration and Production for $224 million (£170.5m).
Aker Offshore Wind and Aker Horizons in merger
Aker Offshore Wind and Aker Horizons have announced an all-stock merger as part of a wider reorganisation to get after energy transition opportunities.
Firm seeks to sell North Sea discoveries ‘left behind’ by ConocoPhillips
An outfit of North Sea experts is seeking to sell off discoveries which it says ConocoPhillips should “never have relinquished”.
BP seeks sale of Foinaven field in West of Shetland
BP is seeking to sell its beleaguered Foinaven field in the west of Shetland, according to a news report.
Oil has wildest week on record with markets jolted by war
Oil resumed climbing at the end of a week where prices have swung within a $20 range since Russia’s invasion of Ukraine roiled global markets and fueled fears of a supply crunch.
Scottish Government urges businesses: Stop trading with Russia
Businesses in Scotland are being urged to withdraw from trading with Russia, following its invasion of Ukraine.
2,000 workers to transfer as Sparrows Group bought by Altrad
Aberdeen-headquartered Sparrows Group is being bought by industrial services giant Altrad.
China among the leading contenders to snap up BP’s stake in oil company Rosneft
There is general consensus amongst analysts that oil giant BP will face an uphill struggle to find a buyer for its stake in Rosneft.
Abrdn faces challenges in sale of Rosneft stake
Asset management group Abrdn has been unable to sell its minor stake in Russian state-backed oil and gas giant Rosneft.
Wood takes $100 million hit from legacy Aegis Poland contract
Wood (LON: WG) expects to take a one-time $100 million charge in relation to a legacy Amec Foster Wheeler defence contract, Aegis Poland.
Aker BP is looking to buy more assets in Norway’s oil and gas sector
Aker BP is actively looking to purchase more assets or companies operating in Norway’s lucrative oil and gas sector, according to Oyvind Eriksen, chief executive of the firm’s parent company.
Eni adds six banks for IPO of $11 billion renewables unit
Eni has picked six more banks to work on the initial public offering (IPO) of its retail and renewables unit Plenitude, which could be valued at about 10 billion euros ($11.3 billion), according to people familiar with the matter.
Vitol CEO sees oil above $100 for a ‘prolonged period’ this year
Oil prices could be set for a “prolonged period” above $100 a barrel over the next six to nine months, with the world setting fresh demand records this year, said Vitol Group chief executive Russell Hardy.
‘Uptick’ in North Sea IPOs forecast with high oil and gas prices on course to continue
North Sea initial public offerings (IPOs) could be back on the menu with healthy oil and gas prices tipped to continue for much of 2022.
World’s most-important oil price tops $100, signals more to come
Forget the futures market, the world’s most important oil price just smashed through $100 a barrel with every sign it is going to push higher.