It is hard to know where to begin when describing the scale of the crisis gripping Big Oil.
Sonatrach has signed a deal to increase its stake in the Medgaz gas pipeline to 51%, from 43%. The remainder will be held by Naturgy.
The Carlyle Group is backing a new sub-Saharan Africa focused company through a partnership with Aidan Heavy and Tom Hickey.
Carlyle Group LP plans to buy a stake valued at as much as $4.8 billion in Cepsa from Mubadala Investment Co., about six months after the Abu Dhabi sovereign fund shelved plans to list the Spanish oil refiner.
Oil trader Vitol Group and buyout firm Carlyle Group are set to announce plans for an initial public offering of their European refiner and service-station operator Varo Energy BV as early as Monday, according to people familiar with the matter.
Total SA agreed to sell its specialty chemicals unit Atotech to Carlyle Group LP for $3.2 billion as the French oil company disposes of non-core assets to weather a slump in crude and preserve payouts to shareholders.
The four biggest private-equity firms have raised about $30 billion to invest in energy deals. They don’t all agree on how to spend that money. Carlyle Group LP is prepared to bet that oil prices have bottomed out and sees now as the best time to deploy its money, co-founder David Rubenstein said last week. Apollo Global Management LLC says the sell-off in oil isn’t over yet and the highest-returning deals are still on the horizon. “There will be attractive opportunities to buy now,” Rubenstein said March 23 at the SelectUSA Investment Summit in Washington. Greg Beard, who leads energy investing at Apollo, sees a different timeline: “The worst, the problems, are yet to come,” he said in an interview last month.