A restructuring of Repsol's Alaska drilling project is adding to the state’s woes in the midst of the biggest oil slump since 2009.
Repsol's latest wildcat well in the Norwegian North Sea has come up dry.
Repsol plans to reduce its headcount by 1,500 position over the next three years in a bid to streamline costs. The move comes in the same week oil major Shell said it would be cutting 1,300 jobs over the next two years in Malaysia.
BG Group has acquired three non-operated positions offshore Newfoundland from Spanish-owned Repsol. The company said the move gives it additional access to early stage exploration in a proven prospective basin ahead of the first well being drilled this year.
Spanish oil major Repsol has reached an agreement to sell the 10% stake it held in oil storage firm Compañía Logística de Hidrocarburos (CLH) to investment company Ardian for 325million Euros.
Repsol SA, Spain’s biggest oil company, is exploring options including a sale of part or all of its stake in Gas Natural SDG SA to shore up its balance sheet amid low oil prices, according to people familiar with the matter. Repsol, whose 30 percent stake in the Spanish natural gas distributor is valued at about 5.2 billion euros ($5.9 billion), is discussing potential deal structures with advisers, the people said, asking not to be identified because the discussions are private. As well as a full or partial sale, which could come as soon as this year, options include selling shares in the market and finding partners to join Gas Natural’s shareholder structure, the people said.
Repsol has received approval from Canadian regulators to begin exporting liquefied natural gas (LNG) from its Canaport import facility. The National Energy Board of Canada granted a 25-year permit to import as much as 312 billion cubic feet of natural gas per year by pipeline from the US and western Canada. It will then be converted to six million metric tons of LNG at a new on-site facility.
Spain's antitrust watchdog CNMC said on Wednesday it had fined Repsol 22.6 million euros ($24.9 million), and another four franchised companies lesser amounts, for fixing petrol prices in service stations.
Repsol SA, Spain’s largest oil company, will transfer the chief executive officer of its Brazilian operations to the US to help integrate Talisman Energy Inc. into its operations, according to two people familiar with the decision. Tomas Garcia Blanco, who took over the Brazilian operations less than a year ago, will help oversee integration of Calgary-based Talisman’s North American assets after the $13 billion acquisition is completed on May 8, one of the people said, asking not to be identified before a public announcement. Garcia Blanco, who will be based in Houston, was head of exploration and production at Repsol’s YPF SA unit until the Argentine government nationalized it in 2012.
Talisman Energy said it expects the completed date for its acquisition by Repsol to be completed next month. The company, which announced its planned takeover of Talisman last year, said it planned to close the deal on May 8.
Repsol SA, which offered $13 billion to buy rival oil producer Talisman Energy Inc., said fourth-quarter profit tripled on higher refining margins and production in Brazil. Adjusted net income rose to 370 million euros ($421 million) from 123 million euros a year earlier, Spain’s largest oil company said Thursday in a statement. That beat the 356.2 million-euro average of 11 analyst estimates compiled. Repsol, whose bid for Calgary-based Talisman was approved by the Canadian producer’s shareholders last week, increased output 16% to 371,000 barrels of oil equivalent per day after pumping more crude in Brazil’s offshore pre-salt region as well as in Venezuela and the US Refining margins improved by one-third to $5.5 a barrel in the fourth quarter, partly offsetting a 39% decline in Brent crude prices in the period.
Talisman Energy has been granted a court order which will allow its acquisition by Spanish company Repsol to go ahead. Last week, the firm's shareholders approved the arrangement, under which Repsol will purchase all of the outstanding shares of Talisman.
Talisman Energy has received shareholder approval for its acquisition by Spanish company Repsol. The firm said holders of its common shares and preferred shares have approved the proposed arrangement, under which Repsol will purchase all of the outstanding shares of Talisman. A spokesman said of more than 99% of shareholders of each class of shares voted in favour of the agreement at a specially held meeting.
A Talisman Energy Inc (TLM) shareholder sued to stop the proposed $8.3 billion sale of the Canadian explorer to Repsol SA (REP), saying the price undervalues the company. Spain’s largest energy company agreed last month to pay shareholders of Calgary-based Talisman $8 (C$9.87) in cash for each share they own, a 60% premium to the company’s 30-day weighted average price as of December 16. Shareholder James Baqleh sued January 20 in New York state Supreme Court in Manhattan seeking to stop the acquisition, saying the transaction is “grossly inadequate” and investors would be “irreparably damaged” if it’s completed, according to court filings.
Spanish oil company Repsol has called off exploratory drilling in the sea around the Canary Islands. It said a discovery of oil and gas had been found but in water-logged subsoil and in small quantities. Around 750 professionals, some based in the Canary Islands, worked on the research project.
Repsol has reached an agreement to buy Talisman Energy in a deal worth an estimated $8.3billion. The move comes after a week of speculation the two companies were in talks once again. Earlier this year Repsol had confirmed it was looking at a potential transaction with the Canadian energy firm. A spokesman said the deal received the unanimous approval of both boards.
Repsol is said to be finalising a four billion euro bid for Talisman Energy. Earlier this week it was revealed the Spanish company had revived talks in a bid to bolster its presence in North America. Talisman said in a statement it has been approached by a number of parties including Repsol about “various transactions". The company said it would not be commenting until any potential transaction had been confirmed.
Repsol SA (REP) has revived talks with Talisman Energy Inc (TLM), people with knowledge of the matter said, as the Spanish company seeks acquisitions to bolster its presence in North America even while oil prices tumble to five-year lows. Repsol and Calgary-based Talisman are discussing options that could include the sale of some assets or the whole company, the people said, asking not to be identified because the deliberations are private. Talisman’s plunging valuation -- now at C$4.5 billion ($3.9 billion) after falling about 60 percent since the end of August -- remains a hurdle to any deal, the people said. Talisman said in a statement it has been approached by a number of parties including Repsol about “various transactions.”