Okea's IPO Falls Short
Norwegian oil firm Okea has raised 315 million crowns ($36 million) in an initial public offering, the company said on Monday, less than half of what it had initially planned due to a fall in the oil price.Europe's oil and gas sector has built up a crowded pipeline for stock market flotations but investors are cautious given a bumpy…
Statoil, Det norske Look for More Acquisitions
Statoil bought a stake in Sweden's Lundin Petroleum; Det norske bought Norwegian assets of 3 oil firms in 2015. Norwegian oil firms Statoil and Det norske are looking at more acquisitions after recent deals, their chief executives told Reuters, hunting for bargains after a plunge in energy prices. Statoil last week bought an 11.9-percent stake in Sweden's oil firm Lundin Petroleum for $540 million…
Okea to Buy Repsol's North Sea Yme Stake
Norway's Okea, a new up oil company, will buy Spanish oil firm Repsol's 60-percent stake in the North Sea oilfield Yme for free, its chief executive told Reuters on Monday. The 60-million-barrel oilfield had been a problematic project to develop for its previous owner, Canada's Talisman, which was taken over by Repsol in 2014. "We will bear the costs of the development…
