The Federal Government of Nigeria lost USD 40 billion in downstream infrastructure investments for 76 non-producing oil leases.
Energy
Wison's major shareholder cooperating with China authorities on corruption inquiry
Wison Engineering Services Co. Ltd, is cooperating with Chinese authorities investigating the corruption allegedly committed by the current state assets regulator during his tenure as PetroChina head.
Fotowatio Renewable Ventures scores backing for Australian photovoltaic plant
Fotowatio Renewable Ventures won financing from two Australian banks to finance its Royalla solar project.
Japan to use public funds to help Tepco with contaminated water from Fukushima nuclear plant
The Japanese government said it would use public funds to deal with the radioactive water emanating from the Fukushima nuclear plant as Tepco appeared overwhelmed by the problem.
OMV to purchase 40% stake in Madagascar's Niko Resources
Austrian oil firm OMV announced that it had agreed to buy a 40% stake in an offshore exploration block in Madagascar from Niko Resources.
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Sinopec, the state owned oil and gas firm, forms Apache and Sinopec Group through the purchase of 33% of the Apache Corp.
A source told Reuters that the European Union Commission will approve Swedish oil refiner Nynas and Royal Dutch Shell's deal despite antitrust concerns.
Investec would coordinate lending facilities for two power plants to be built in South Africa. Investec Plc would provide financing for GDF Suez as it develops two South African gas power plants.
China's corruption goes on overdrive with PetroChina officials falling in its wake. In a widening effort to push its anti-corruption campaign, China has included the country's most valuable company in its dragnet.
Three Suntech Power Holdings Co Ltd directors resigned amid the company's struggling financial difficulties.
Australia's AGL Energy Ltd said that weakened demand prompted the company to delay the development of its power plants.
Ultratech Cement is in the advanced stages of its discussions with Jaypee Cement Corporation for the acquisition of 51% stake in the company's Gujarat facility.
Whiting Petroleum Corporation had announced today signing a definitive agreement for its acquisition of several properties in Williston Basin, North Dakota.
French oil and gas company Total said that it would be buying the retail network of US-based Chevron in Egypt.
