Singapore’s KrisEnergy is on the verge of collapse and eagle-eyed investors, seeking assets at bargain prices, are preparing to pick over the company’s carcass. However, given KrisEnergy’s recent dismal performance in Cambodia, there is not much left of interest.
Oil major Shell plans to sell off part of its $3billion Norwegian business.
Saudi Arabian Oil Co., the world’s largest crude exporter, is among second-round bidders for a Turkish fuel retailer owned by OMV AG, central Europe’s biggest oil and gas company, according to three people with direct knowledge of the matter.
US independent oil producer ConocoPhillips plans to sell $8billion worth of natural gas assets.
A portal has been created to provide new insight on aging renewables and storage assets in the UK and France.
Oil major Shell said it has reached an $80million deal with Dansk Olieselskab for the sale of its assets in Denmark.
The long wait may finally be over.
A North Sea oil worker has claimed staff are working on a “ticking time-bomb” as a dispute over changes to pay and conditions rumbles on.
Pantheon Resources said it has acquired additional working interest in East Texas.
Highlands Natural Resources said it has increased its land position in the core of the Helios Two prospect area in Montana.
Workers from Unite and RMT unions have backed strike action in the North Sea for the first time in a generation.
Abu Dhabi National Energy Co., which produces oil and natural gas from Canada to North Africa, reported a net loss for the first quarter as revenue declined because of lower crude and natural gas prices.
Total is said to have held talks to buy all or part of domestic rival Engie's exploration and production activities.
Kuwait Petroleum Corp (KPC) said it plans to sell loss-making assets to cut costs as low oil prices pressure its finances.
WPX Energy is selling its natural gas assets in the Piceane basin for $910million.
US oil giant Hess has sold its Shannon LNG assets, according to reports.
Petroceltic said it was considering a number of options for the company’s future including the sale of some or all of its assets. The board said options being considered include a farm-out or sale of one or more the company’s existing assets, a merger with a third part, or the sale of its entire issued share capital in the form of debt or subscription of new ordinary shares.
Enerplus said it has completed the sale of a number of non-operated interests in North Dakota.
Transatlantic Petroleum has launched a marketing process for the sale of its oil and gas assets in Albania. The company said the move had been authorised by its board of directors and the marketing process will now be pursued.
Russia's Rosneft, the world's top listed oil producer by output, has offered Japanese companies a chance to join projects in Russia's East Siberia and Far East, Chief Executive Igor Sechin said on Friday. There is a huge potential for cooperation between the two countries, he said, in offering Japanese firms the opportunity to participate in the Verkhnechonskoye, Srednebotuobinskoye, Tagulskoye and Russkoye projects, as well as in other developments already in operation or yet to be launched. "We proposed to our Japanese partners deals with total reserves of six billion barrels and with a resource base of 100 billion barrels," Sechin told an industry symposium in Tokyo.
Range Resources has signed an agreement to sell its Nora assets for $876million. The properties encompass 3,500 operated wells and 460,000 net acres located in Virginia. The company said the sale is scheduled to close by year-end and is subject to customary closing conditions and purchase price adjustments.
Wood Group PSN (WGPSN) is in consultation with its staff over a move to three on, three off rotation on Shell assets in the North Sea. The company said it was working with employees who would be affected by the changes as well as the oil major and unions. Earlier this year Shell revealed it would be moving to a three on, three off shift pattern in January next year.
Lundin Petroleum has sold its assets in Indonesia in an agreement with Medco Energi International in a $22million deal. The assets include the non-operate interest in the producing Singa gas field and the operated interest in the South Sokang and Cendrawasih VII Blocks, as well as the joint study agreement in respect of the Cendrawasih VIII Block.
Oil giant Shell has completed the sale of Smart Fuel to St1 Nordic Oy of some of its downstream businesses in Norway. The company said it would still continue to remain highly visible in the country, despite the deal for its retail, commercial fuels and supply and distribution logistics businesses. Shell and St1 have also joined forced to create Aviation Fuelling Services Norway AS, a joint venture to sell aviation fuel in Norway.
Sanchez Energy will sell off a number of assets in the US in a $345million deal. The deal will see Sanchez Production Partners acquire and operate certain pipeline, gathering and compression assets located in the Western part of its Catarina asset in the Eagle Ford Shale in South Texas. The proceeds from the Western Catarina Divestiture will be used to further enhance Sanchez’s Energy’s liquidity position which is expected to enable the company to pursue growth opportunities through asset acquisitions.