BP Exits Alaska in $5.6 Bln Sale
British oil major BP Plc on Tuesday agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years.The deal, which includes interests in the most prolific oil field in U.S.
BP Sells Egypt Assets to Dragon Oil
BP said on Monday it has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dubai-based Dragon Oil, as part of the supermajor’s plan to divest more than $10 billion in global assets over the next two years.Under the terms of the deal…
As Traders Tussle Turkmenistan Cuts Exports
A clash between trading house Vitol and Azerbaijan's SOCAR over Caspian Sea oil shipments is forcing Turkmenistan to slash exports of crude due to a lack of tankers.Turkmenistan typically exports about 200,000 tonnes of oil per month via the Caspian to world markets…
Topaz Financial Results Ending June 2017
Topaz Energy and Marine has announced its results for the six months ended June 30, 2017. Overall core fleet utilization at 62%, while we continue to demonstrate resilience in Azerbaijan with utilization at 95%. Robust EBITDA margin of 50%, despite utilization and rate pressure in Africa and MENA.
Iraq Offers Oil Fields Under New Contract Terms
Iraq's oil ministry has launched a new round of bidding to develop 12 small to medium-sized oil fields and will directly negotiate terms with oil companies as it seeks to move away from the service-based contracts it agreed for the development of its giant fields.
First Offshore Reference for ACO's New Clarimar MF
ACO Marine announced it has signed a contract to supply a bespoke version of its new Clarimar MF wastewater treatment plant to the CFT 623 wellhead platform under construction for Dubai’s Dragon Oil. The specially adapted Clarimar MF-2 has capacity…
Dragon Oil Shareholder ENOC: No Dividend
Majority stake will allow ENOC to vote against dividend; ENOC to lower Dragon Oil's near-term production target. Dragon Oil Plc's largest shareholder, Emirates National Oil Co Ltd (ENOC), said the oil producer no longer needed to pay a dividend to shareholders…
Petroceltic Sued by Largest Shareholder
Irish oil producer Petroceltic is being sued by its largest shareholder, Worldview Capital Management, which has also called for the resignation of Chief Executive Brian O'Cathain. Petroceltic resolved a dispute with the 27-percent stake holder in June over a $100 million placing of shares.
Dragon Oil Halts Petroceltic Acquisition Effort
London-listed oil producer Dragon Oil has dropped an $800 million takeover offer for rival Petroceltic, blaming weak oil prices that have fallen around 35 percent since the deal was first announced in October. "Dragon Oil now confirms that, in the light of prevailing market conditions…
Dragon Oil to Bid for Petroceltic
Dragon Oil plans to bid 230 pence a share; Bid is 35 pct above Petroceltic's recent average price. Petroceltic says would accept if conditions met. London-listed energy producer Dragon Oil plans to make a near 500 million pound ($800 million)…
Dragon Oil cuts 2014 production growth forecast on drilling delays
London-listed oil and gas company Dragon Oil cut its 2014 production growth rate to 10 percent on Tuesday on the back of delays to its drilling program in Turkmenistan. The explorer said its output will rise around 10 percent this year, down…
