Anadarko Bidding War Heats Up
American multinational energy corporation Chevron is working on integrating the hydrocarbon exploration company Anadarko Petroleum, even as it faces a higher rival takeover bid for the oil explorer from Occidental Petroleum Corp, said a report in Bloomberg.However…
Oil Explorer Finder Seeks $150mln for Australia Drilling
Australia-focused oil and gas explorer Finder Exploration is seeking to raise $150 million for the drilling of five wells off the country's northwest coast, a document seen by Reuters showed. The wells could hold as much as 600 million barrels of oil and gas equivalent…
UK Mulls Revisiting Oldest North Sea Blocks
Britain wants oil and gas drillers to recover pockets of gas that are more difficult to reach in a part of the North Sea where drilling for fossil fuels started over 50 years ago. Britain's oil regulator, the Oil and Gas Authority (OGA), said on Thursday that some…
Oil Explorer ONGC Keen to Buy Stake in Refiner HPCL
India's top explorer Oil and Natural Gas Corp (ONGC) is keen to acquire the government's stake in oil refiner Hindustan Petroleum Corp (HPCL), the country's oil minister said on Wednesday. "ONGC has shown interest," Dharmendra Pradhan told reporters in New Delhi. "In my view…
Genel's Rothschild Quits as Turkey Gas Focus Grows
Departure follows that of Chairman Tony Hayward; Company now focused on Turkish gas market. Genel Energy co-founder Nathaniel Rothschild quit on Monday in the latest high-profile departure from the loss-making Iraqi Kurdistan oil producer, which is switching its focus to the Turkish gas market.
Eco Atlantic to List in London on Wednesday
Eco Atlantic Oil & Gas, a Canadian oil explorer, will list on London's junior AIM market on Wednesday, raising 4.8 million pounds ($6 million) to help finance a drilling campaign offshore Guyana with partner Tullow Oil. Eco Atlantic, which expects to have a market…
Private Equity Mulls U.S. Energy IPOs
Private equity funds are looking to sell shares in two U.S. energy companies, people familiar with the plans said this week, deals that could end a year-long drought for Initial Public Offerings (IPOs) in the oil and gas sector. Denver-based Extraction Oil & Gas LLC…
Cairn India's 1Q Net Profit Drops 28%
Oil explorer Cairn India Ltd , controlled by billionaire Anil Agarwal, said on Thursday consolidated net profit in the first quarter of its business year fell 28 percent from the same period a year ago due to lower crude oil prices. The crude oil and gas producer, with assets in Rajasthan state's Barmer basin…
Bank Clerk and Beachgoers May Save Italy's Oil Industry
It is people like 58-year-old bank clerk Silvio Doria who may save Italy's oil industry. For the referendum to succeed, more than 50 percent of Italians must cast a ballot. Prime Minister Matteo Renzi says a "yes" vote against drilling would hurt jobs at a time when…
Falkland Oil Shareholders Face Tighter Deadline
Falkland-based shareholders of oil explorer Falkland Oil and Gas have only days to review a takeover offer from Rockhopper and vote on it due to transport problems delaying the delivery of legal papers to the remote islands. Shareholders who reside on the Falkland Islands…
Brazil's QGEP Says Test of Carcara Area Promising
Formation tests run in the Carcara offshore area by Brazilian oil explorer Queiroz Galvao Exploracao e Producao SA have showed results as promising as the best subsalt discoveries so far, the chief executive of the company said on Tuesday. A more complete report of the test results are due to be published by the end of the year.
Cairn Energy Drops Ibiza Oil Drilling Plans
Oil explorer Cairn Energy has dropped plans to drill near Spanish holiday island Ibiza, the company said, as it wants to focus on developing potentially huge reserves offshore Senegal. Cairn was set to carry out seismic testing on four offshore blocks in the Gulf…
Oil Find near Gatwick Boosts UK Production Hopes
A small British oil producer said it had discovered a possible world class oil resource in the countryside to the south of London that could contain billions of barrels of oil. The London-listed oil explorer UK Oil & Gas Investments (UKOG) said on Thursday up to 100…
Tanzania Gas Pipeline Built, But Not Ready to Start
A pipeline connecting offshore natural gas fields to Tanzania's commercial capital Dar es Salaam is complete, but technical setbacks will keep it from going online until November, officials said on Tuesday. Tanzania estimates it has at least 53.28 trillion cubic feet…
Cairn Files Dispute Against India Income Tax Dept.
Oil explorer Cairn Energy has filed a dispute notice against the Indian income tax department over a $1.6 billion tax claim from the 2006-2007 fiscal year, the company said on Tuesday. The dispute notice was filed under the terms of the UK-India Investment Treaty,…
Ophir CFO Departs, Cost-Cutting cited
Ophir Energy's chief financial officer, Lisa Mitchell, will leave the company on Nov. 19 after her job was made redundant as part of a cost-saving reorganisation of the board announced in August, the company said on Friday. The oil explorer decided to cut the number…
Wentworth Sees Surging Cash Flow After Tanzania Gas Deal
Oil explorer Wentworth Resources expects its cash flow to surge from the first quarter of next year as it earns revenues from a new gas sales deal at its Mnazi Bay and Msimbati Gas fields in Tanzania, it said on Monday. Tanzania signed an agreement with French oil…
Private Equity Firms Double down on Venari's Offshore Drilling
Gulf of Mexico deepwater oil explorer Venari Resources LLC said on Wednesday it had raised $1.3 billion from original backers Warburg Pincus LLC, Kelso & Co, the Jordan Company and Temasek Holdings, as well as new investors. GIC, Singapore's sovereign wealth fund,…
Maurel & Prom Reports 11% Rise in H1 Sales
French mid-sized oil explorer Maurel & Prom reported an 11 percent rise in first-half sales on Tuesday, helped by the re-integration of its Caroil drilling subsidiary and a rise in production in Gabon. Production, almost entirely coming from the African country, rose 7 percent to 25…
Africa Oil Prospectors Afren Suspend CEO, COO
London-listed oil explorer Afren Plc said its board had temporarily suspended Chief Executive Osman Shahenshah and Chief Operating Officer Shahid Ullah pending an investigation into payments, sending its shares to their lowest level in more than two years. The Nigeria…
