Nigeria approves Exxon Seplat after two years
Nigeria has approved the sale to Seplat Energy of Exxon Mobil Corp.'s onshore assets, said the chief executive of the country's Upstream regulator on Monday. This comes more than two years since the original $1.28 billion agreement.Since it was announced in February 20, 2022, the sale has been scrutinized as it awaits regulatory approval.Bola Tinubu…
After the closure of the furnace, KNS, a new Caledonian nickel company, is looking for a new investor.
KNS reported on Tuesday that talks with potential buyers of Glencore's Koniambo Nickel SAS stake are continuing, after the New Caledonian Nickel producer shut down their furnaces at the weekend. KNS, a part of the struggling New Caledonian Nickel industry, halted its mine and factory operations in March, after commodity group Glencore sold its interest.
Fortum Reports Quarterly Profit Surge
Finland's Fortum missed analyst expectations despite reporting a 59% jump in its comparable operating profit for the third quarter on Thursday, saying electricity price hedging and higher hydro and nuclear volumes had helped it achieve the rise.The firm's shares fell almost 2% after third-quarter operating profit came in at 153 million euros ($170 million) compared to forecasts for 164 million euros…
Saudi Aramco Awards General Dynamics Offshore Security Contract
Saudi Aramco has awarded a contract to the local subsidiary of U.S. company General Dynamics as the state oil giant aims to increase security at its offshore facilities, Saudi Aramco said on Wednesday. Industry sources told Reuters in July the contract involves installing long-range integrated security systems at nine offshore sites in the Gulf. Apart from General Dynamics…
Exxon Eyes Sale of Italian Retail Network
Exxon Mobil is seeking to sell half of its 2,500 petrol stations in Italy for up to 500 million euros ($537 million), several sources close to the process said. Exxon, through its local subsidiary Esso, is the latest oil company trying to reduce its exposure to Italy's oversupplied petrol retail sector. Royal Dutch Shell exited last year and Total and Italian energy group Erg are nearing the sale of their joint venture.
White House: Keystone XL Can Be Made from Non-US Steel
The Keystone XL oil pipeline does not need to be made from U.S. steel, despite an executive order by President Donald Trump days after he took office requiring domestic steel in new pipelines, the White House said on Friday. "It's specific to new pipelines or those that are being repaired," White House spokeswoman Sarah Sanders told reporters on Air Force One…
Eni Will Deepen Involvement in Nigeria's Energy Industry
Italy's Eni plans to deepen its involvement in Nigeria's energy industry, increasing oil and gas exploration and helping to restore one of the country's ailing refineries, the company said in a statement on Monday. Chief Executive Claudio Descalzi and Nigeria's Minister of State for Petroleum Resources, Emmanuele Ibe Kachikwu, met in Rome this week…
Petrobras to sell Liquigás unit to Ultrapar
Brazil's Petrobras said on Friday it is in advanced talks with local conglomerate Ultrapar Participações SA to sell its gas distribution unit Liquigás Distribuidora SA. Petróleo Brasileiro SA, as the state-controlled oil company is formally known, said in a securities filing that the transaction has yet to be approved by the boards of both companies and antitrust bodies.
Bulgarian Watchdog Raids More Oil Firms
Bulgaria's competition regulator said on Tuesday it had raided the offices of fuel retailers Petrol and Nis Petrol, which is controlled by Russia's Gazprom Neft, as part of its investigation into possible cartel agreements. Bulgarians complain of high fuel costs despite a plunge in global oil prices and Prime Minister Boiko Borisov has called for the competition authority to speed up its investigation.
Triunfo to Shed Energy Stakes to CTG
Brazil's Triunfo Participacoes e Investimentos SA announced on Tuesday it was selling controlling stakes in three different energy businesses to the local subsidiary of China Three Gorges Corp for up to 1.9 billion reais ($538 million). The Brazilian infrastructure company said in a statement it will sell all the shares it owns at Rio Verde Energia…
Chariot Agrees Brazil Farm Out with AziLat
Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, announced that its wholly owned subsidiary, Chariot Brasil Petróleo e Gás Ltda., has signed a farm-out agreement with AziLat Limited through its local subsidiary AziBras Exploração de Petróleo e Gás Ltda. Following completion of this agreement, which is subject to the approval of the Brazilian authorities…
Noble Execs Cut Deal with SEC Ahead of Bribery Trial
Two executives from offshore drilling contractor Noble Corp have agreed to settle civil claims they participated in a bribery scheme to obtain permits for oil rigs in Nigeria, days before the case was set to go to trial. Jury selection had been scheduled for next Monday in the U.S. Securities and Exchange Commission's case against Mark Jackson, Noble's former chief executive officer…
Odebrecht & Enagas win bid for 4.000 bln pipeline in Peru
A consortium of Brazil's Odebrecht and the Spanish Enagás Monday won a tender to build and operate a pipeline that will require an investment of 4,000 million dollars in Peru, the largest energy project in the country and key to the government of President Ollanta Humala. Proinversión, the body that promotes private investment in Peru, awarded the project to a group called South Peruvian pipeline…
Wind Park Investment in Serbia in Doubt
Authorities in Serbia have revoked a permit for the local subsidiary of a U.S. renewable energy company to build a $408 million (300-million-euro) wind park, under challenge by the electricity grid operator. Continental Wind Serbia, a subsidiary of Continental Wind Partners, planned to start construction this year on the 145 megawatt (MW) wind park…
