Anadarko Shareholders Go for Cash in Oxy Buyout
Shareholders of Anadarko Petroleum Corp on Thursday voted overwhelmingly to sell the company for $38 billion to rival Occidental Petroleum Corp, ending a short-lived contest that pitted two of the most storied names in the oil industry against one another.Occidental…
Oxy Q2 Earnings Dip
Occidental Petroleum Corp , which is battling activist investor Carl Icahn over its $38 billion purchase of Anadarko Petroleum, reported a 14% drop in quarterly profit on Wednesday, as costs related to the deal and weaker chemical earnings hit its bottom line.Still…
Ecopetrol Wins Offshore Colombia Block
Colombia’s state-run oil company Ecopetrol SA has signed Colombia’s first offshore exploration and production contract under a newly revised contract model.According to a report in Reuters, the deal for a nearly 400,000-hectare (988,000-acre) bloc in the Caribbean…
Attack on Cano Limon Pipeline Extends Pumping Halt
A bomb attack by Marxist ELN rebels destroyed a stretch of Colombia's second largest oil pipeline, the Cano Limon-Covenas, extending an almost month-long pumping stoppage, sources from the military and state oil company Ecopetrol said on Tuesday. The attack…
Brazil Oil Regulator Clears Four More Companies
Brazil's oil regulator ANP authorized four more companies to bid in auctions for exploration and production rights in the presalt region off the Brazilian coast this month, the regulator said on Tuesday. A local unit of U.S.-based Chevron Corp was cleared to bid in the second and third presalt rounds to be held on Oct.
Former PetroTiger CEO Pleads Guilty in Bribe Case
A former co-chief executive of oil services company PetroTiger Ltd pleaded guilty in a U.S. court on Monday to conspiring to bribe a Colombia government official to get help in winning a contract. In exchange for the plea from Joseph Sigelman, 43, the U.S.
Colombia's Ecopetrol Reserves Rise
Colombia's Ecopetrol SA said on Monday its proven oil and gas reserves increased 5.7 percent as of Dec. 31, 2014, from the previous year to 2.08 billion barrels equivalent, equal to 8.6 years of output at the company's current production rate. Out of 355 million barrels of oil equivalent added last year…
Alfa Shares Rise After Joint Venture Deal
Shares in Alfa rose as much as 3 percent in early trading on Thursday before easing after it said it had signed a preliminary deal with Pacific Rubiales Energy Corp. to create a 50/50 joint venture to invest in Mexican energy projects. Alfa said on Thursday…
Shell Makes 3rd Major Discovery in Norphlet Play
Royal Dutch Shell Plc said on Tuesday it had found roughly 100 million barrels of oil equivalent (boed) in the Gulf of Mexico's Norphlet formation, its third discovery there. The company, the gulf's largest operator, found the oil near its Rydberg well, roughly 75 miles off the Louisiana coast.
