Oceaneering to work with Aberdeen’s Global Design Innovation
Oceaneering International has signed a strategic collaboration agreement with Aberdeen-based Global Design Innovation (GDi).
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Tower Resources completes acquisition of Comet Petroleum
Tower Resources has completed the sale of its subsidiary Comet Petroleum Limited.
Chesapeake Energy to sell part of Haynesville acreage for $450million
Chesapeake Energy said it plans to sell part of its acreage in the Haynesville shale area for $450million to a private firm.
Saudi Aramco said among second-round bidders for OMV Turkey unit
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.
Bulgaria accuses former directors of ‘financial damage’ after nuclear deal
Prosecutors in Bulgaria have charge two former directors of the state electricity firm NEK with causing financial damage by signing a nuclear deal which could cost business more than $86million.
NOV and GE strike digital FPSO deal
National Oilwell Varco (NOV) and GE Oil & Gas have struck a deal to collaborate on digital solutions for Floating Production Storage and Offloading (FPSO) vessels.
Strikes averted as Norway oil workers strike 11th hour deal
Hundreds of Norwegian oil workers have narrowly avoided going on strike after agreeing to an 11th hour pay deal.
Pacific Holdings ends tender offer
EIG Pacific Holdings has terminated its offers to acquire Canada's Pacific Exploration & Production after the tender offer expired.
Aberdeen’s City Region Deal ‘almost sealed’
The long-awaited City Region Deal for the north-east has been announced – and could be finalised within days. Scottish Secretary David Mundell said last night the “full details” of the investment would be revealed “shortly”.
Empryean Energy agrees deal $61.5m deal for Sugarloaf development
Empyrean Energy said it has entered into a conditional sale and purchase agreement with Carrier Energy Partners to dispose of its interest in the Sugarloaf development. The deal is for an initial cash consideration of $61.5million and the company may also receive a contingent consideration of around $10million.
Oil has a reality check for those elated by the climate deal
For anyone elated by the climate-change accord in Paris, the commodity markets have a reality check for you. World leaders may have vowed to wean the world from fossil fuels, but prices for oil, coal and natural gas are at their lowest in years. Crude, which touched an 11-year low Monday, will probably decline even more with the US ending its 40-year ban on oil exports. So is that bad news for people hoping to switch the world to cleaner fuels?
Shell-BG deal not yet in the bag amid fears of further oil slump
Royal Dutch Shell Plc is on the brink of pulling off its biggest acquisition. Yet the widening discount of target BG Group Plc to the offer price shows that a further steep drop in oil prices could still put the deal in doubt. BG traded 12.5 percent below Shell’s bid price on Dec. 18, the biggest discount since early September, compared with a 6.4 percent gap on Dec. 4. While BG shares soared when news of the deal broke eight months ago, they’ve since tumbled more than 20 percent as oil prices slumped.
African Petroleum and Ophir Energy strike production sharing deal
African Petroleum has signed a new production sharing contract with Ophir Energy covering the company’s CI-513 licence area in Cote d’Ivoire. The new contract means Ophir Energy has a 45% interest and is operator of the asset while African Petroleum holds a 45% interest and the regions National Oil company the remaining 10%. Ophir Energy will make a $16.9million contribution towards African Petroleum’s back costs in relation to the block.
UN closes the books on decade-long Iran nuclear probe
The UN nuclear agency have approved a resolution that ends a decade-long probe of allegations that Iran worked on atomic weapons. The probe had to be formally closed as part of an Iran-six nation deal restricting Iran’s current nuclear programmes which could be used to make such weapons, in exchange for sanctions relief for Tehran.
Seismic player CGG launches $379million capital bid
Seismic company CGG said it plans to launch a $379million capital increase in a bid to finance its transformation plan following the decline in oil price. The French firm plans to make the move, which would help support an on-going reorganisation process.
Piper Jaffray to acquire Simmons in $139million deal
Investment bank Piper Jaffray has agreed to acquire Simmons and Co in a deal worth $139million. The company said the move represented a “major step” in its drive towards $500million in annual investment banking revenue. Piper Jaffray will acquire 100% of Simmons in the $139million deal, which will consist of $91million in cash and $48million in restricted stock.
Jemena wins contract for Australian pipeline
Jemena has been revealed as the preferred bidder to build a gas pipeline which will connect the Northern Territory in Australia to Queensland. The conglomerate is jointly owned by the State Grid Corporation of China and Singapore Power. The North East Gas Interconnector (NEGI) will link the Northern Territory’s Amadeus pipeline to Queensland’s Carpentaria pipeline.
Schlumberger acquires Fluid Inclusion Technologies
Schlumberger is set to acquire Fluid Inclusion Technologies (FIT) in another acquisition deal for the company. The US-based oil and gas service specialises in laboratory analysis of trapped fluids in rock material and advanced borehole gas analysis on drilling wells.
Cameroon FLNG gas convention signed
A milestone has been reached in the Cameroon floating liquefied natural gas project after parties signed a gas convention. The final investment decision commits the project to a targeted start date for commissioning in the second quarter of 2017. At a signing ceremony in Cameroon the country’s state-owned oil company Société Nationale des Hydrocarbures (SNH), Perenco Cameroon, Golar Hilli Corporation and Golar Cameroon executed a an agreement which endorses and governs the installation and operation of the GoFLNG vessel in Cameroon waters offshore of Kribi.
Deal between trio of LNG firms scrapped after negotiations reach stalemate
A trio of companies have ended their planned merger after the parties failed to agree on terms. The deal would have created one of the largest floating LNG infrastructure companies between Flexlife LNG, Geveran and Exmar. The companies had agreed on main terms for the transaction in July this year but it was still awaiting due diligence as well as agreement on some finer details.
Schlumberger to buy Cameron in $14.8billion deal
Schlumberger has taken over Cameron in a $14.8billion deal. The company's chief executive said the move would create "new and broader" opportunities for Schlumberger in the current low oil market. Schlumberger told investors in June last year there needed to be a transformation in the technology delivered in order to outperform the markets.
Kenya Power Signs Geothermal, Hydropower Deals for 76 Megawatts
Kenya Power & Lighting Ltd., the East African nation’s sole electricity distributor, will sign two purchase agreements for 76 megawatts of geothermal energy and hydropower. The utility will buy 70 megawatts from Akiira Geothermal Ltd., a project developer, and Marine Power Generation Ltd., its development partner, it said. The distributor will also purchase 6 megawatts from Kleen Energy, a local hydropower producer.
Iran nuclear deal remains elusive
Disputes over attempts to probe Tehran’s alleged work on nuclear weapons are unexpectedly persisting, threatening plans to wrap up an Iran nuclear deal. Diplomats say at least two other issues still need final agreement. These are Iranian demands that a UN arms embargo be lifted and any UN Security Council resolution approving the deal no longer describes Iran’s nuclear activities as illegal. With few signs that Iranian or US negotiators are prepared to give ground, the high-stakes game of brinksmanship looks set to force a fourth extension of talks since the current round began 17 days ago.
US offers billions in arms to ease Iran deal anxiety
An agreement to curb Iran’s nuclear program could create a bonanza for US defense contractors who already are benefiting as the Obama administration tries to assuage Israeli and Gulf Arab concerns by cutting deals for more than $6billion in military hardware. The details of a potential deal being negotiated between Iran and six world powers -- China, France, Germany, Russia, the UK and US -- would determine what steps the U.S. takes to help its allies. A nuclear agreement is likely to prompt Mideast partners to seek improved defense systems from American contractors such as Boeing Co., Lockheed Martin Corp. and Raytheon Co. as well as weapons-makers in France and elsewhere. “In theory, an Iran deal could lead to a reduction in tensions in the region that would reduce the demand for advanced weaponry,” said William Hartung, director of the Arms and Security Project at the Center for International Policy in Washington. “In the short-term, a deal could actually boost the demand for arms.”
Bergen Group rig service sale falls through
Bergen Group said the sale of the company's rig-service activity has fallen through. Last month, the company had signed a deal with Semco Maritime for the operational activity at the Hanotangen yard and with Hellick Teigen for the real estate there. The deal was planned to close by April 30.