Wintershall Dea Looks to Domestic Production as Russia has 'Destroyed' Trust
Germany's Wintershall Dea, a shareholder of the Nord Stream 1 pipeline and longstanding Gazprom partner, on Tuesday said it would look to increase domestic oil and gas output since Russia has lost its status as a reliable energy…
Wintershall Dea Seeks European IPO in 2020
Newly created oil and gas group Wintershall DEA plans to hold an initial public offering in the second half of the next year, its chief executive told Reuters, in a deal that could become one of the largest European listings in 2020.Sources said in April that Wintershall DEA had picke
Offshore Norway Exploration to Expand in 2018
About 45-50 exploration wells expected off Norway in 2018; drilling activity set to double, highest level since 2013. Efforts to find new oil off Norway are expected to double next year, preliminary company plans show, with activity…
DONG to Sell O&G Business to Ineos for $1.3 Bln
Danish utility and offshore wind farm developer DONG Energy has agreed to sell its oil and gas business to petrochemicals firm Ineos for $1.3 billion, it said on Wednesday, the latest in a string of North Sea deals. The sale is a blow to shipping group A.P.
Cairn Energy is Frontrunner for DONG Energy Assets
Independent oil exploration company Cairn Energy has emerged as the frontrunner for North Sea oil and gas assets put up for sale by DONG Energy, sources familiar with the matter said. Interest from Cairn Energy and several other…
Lundin Petroleum Finds More Oil in Norway's Arctic
Sweden's Lundin Petroleum has found additional oil and gas near its Alta discovery in the Norwegian Arctic, the firm and the Norwegian Petroleum Directorate said on Tuesday. "The total gross resource estimate for the Neiden discovery…
Oil Firms Deepen Cost Cuts as Price Recovery Remains Elusive
Oil companies are deepening cost cuts through efficiency and standardisation to stay profitable while maintaining dividends as a supply glut pushes back a potential recovery in the price of crude, top executives and analysts said.
Norway Awards 10 Arctic Licences to 13 Firms
Norway awarded 10 new licenses in its 23rd oil licensing round for new exploration areas, which for the first time is granting access to an offshore border zone with Russia, the oil and energy ministry said on Wednesday. 13 companies…
Premier Oil to buy E.ON's UK North Sea Assets
Transaction valued at up to 150 mln euros; deal comes weeks after Premier sold Norwegian business. UK-listed mid-sized oil producer Premier Oil is buying German utility E.ON's oil and gas assets in the British part of the North Sea…
Oil Firms Vie for Norway's New Exploration Work
Norway has received applications from 26 oil firms seeking drilling permissions in a licensing round set to move the search for hydrocarbons closer to its border with Russia, the country's Oil and Energy Ministry said on Friday.
Det norske buys Premier Oil's Norway Stake
Norway's Det norske oljeselskap has agreed to buy Premier Oil's Norwegian business in a $120 million cash deal that prompted gains in both companies' shares. The deal is one of a flurry of transactions made in the Norwegian North Sea in the last month…
Norway: E.ON Deal to be Handled Routinely
The $1.6 billion transaction between utility E.ON and Russian billionaire Mikhail Fridman over Norwegian oil assets will be handled like any other, Norway's oil and energy minister said on Wednesday, despite sanctions on Russia.
Ineos Buys North Sea Gas field from Russian Billionaire
Swiss chemicals company Ineos has bought all the UK North Sea gas fields owned by the DEA Group, which is in turn owned by Russian billionaire Mikhail Fridman's investment fund LetterOne, the companies said on Sunday. In April, Britain's…
Russian Billionaire Nears Deal for E.ON's North Sea Assets
Russian billionaire Mikhail Fridman's LetterOne fund has emerged as the front runner for the acquisition of German utility E.ON's Norwegian North Sea assets, three industry and banking sources said on Tuesday. The potential acquisition…
Private Equity Eying UK North Sea Assets
Private equity funds in talks to buy North Sea assets; rebound in oil prices accelerates process. High-profile oil and gas executives are teaming up with private equity funds seeking to invest billions in British North Sea assets and maximize profits by cutting costs…
UK Pressure Forces Russian's North Sea Asset Sale
Mikhail Fridman's LetterOne fund offers 11 gas fields. Mikhail Fridman's LetterOne fund is set to formally launch the sale of North Sea gas fields it had acquired from RWE, bowing to British threats to revoke the assets' licences unless the Russian tycoon relinquishes ownership.
UK Warns Off BP Suitors Now Shell Unavailable as 'White Knight'
Britain's warning to potential suitors of BP is a sign of the oil major's vulnerability to a takeover bid and that a more politically palatable tie-up with Royal Dutch Shell no longer seems to be an option, banking and industry sources said.
UK Decides to Revoke DEA Oil Licences Unless Ownership Changes
The British government has decided to revoke North Sea oil field licences owned by DEA, RWE's oil and gas unit bought last month by Russian billionaire Mikhail Fridman's LetterOne, unless the licences change ownership, the energy ministry said. "The Secretary of State Ed Davey ...
UK Shale Gas Firm Cuadrilla Appoints New Chairman
British shale gas company Cuadrilla Resources has appointed board member Roy Franklin as chairman with immediate effect, the firm said on Wednesday. Franklin will replace former BP boss John Browne who is now chairman of LetterOne…
UK Mulls Russian N. Sea deal, Could force Sale
The British government is still considering Russian billionaire Mikhail Fridman's acquisition of North Sea gas fields, but has made clear it has the power to require him to sell the assets, Prime Minister David Cameron's spokesman said on Wednesday.
