Natural gas explorer Ophir Energy Plc of Great Britain is turning into a potential takeover target as it demonstrates to have size bigger than its capability to develop assets on its own.
Energy
Anardarko Partners With Indian Tycoon to Lead Mozambique Gas Stake Auction
American oil and gas explorer Anardarko Petroleum has collaborated with Venugopal Dhoot, an Indian tycoon, for the auction of a 20% stake in a Mozambique gas stake that is expected to fetch $4.5 billion.
BP Loses Bidding War Against ExxonMobile for the 2nd Time
BP lost a bidding battle again to United States' ExxonMobile as the latter acquires access to Arctic Laptev Sea Fields where Russia's Rosneft has prospect reserves.
Hess to Divest Trading Arm
Hess sells of Hetco, its energy trading subsidiary. Hess Corp will be selling off its energy trading arm Hetco to precipitate its exit from the gasoline and marketing industry by the year 2015.
BP Loses Twice in a Row
BP loses bids on Arctic oil exploration. According to sources, British Petroleum, who lost its first deal to drill oil in Arctic Russia to rival ExxonMobil again was beaten out by the same rival when it tried to negotiate a deal with Russian oil giant Rosneft.
Latest News
Petronas or Petroliam Nasional is being urged by Employees Provident Fund to increase its price to buyout liquefied natural gas shipper MISC.
Japan Petroleum Exploration will be taking 10% stake in the liquefied natural gas project being planned by Malaysia's oil firm Petronas in British Columbia, Canada.
Esa Ikaheimonen has been appointed as the new chief financial officer of Transocean Ltd., the largest offshore rig contractor in the world.
Ithaca buys out Valiant for GBP203 million in cash and stocks. In an effort to boost its North Sea oil output, Ithaca Energy Inc has purchased Valiant Petroleum Plc for GBP203 million or US$308.
For national security concerns, CNOOC cannot use Gulf assets. China's largest offshore oil and gas producer CNOOC has been disallowed to control oilfields in the Gulf of Mexico.
Ithaca Energy and Valiant Petroleum have reached agreement wherein the former will buy the latter in 203 million pound deal.
Sandridge Oil posts a 'happy' fourth quarter loss. Oil and gas company Sandridge Energy announced a fourth quarter loss while at the same time bucking criticism from its line of activist investors.
Morgan Stanley, Main Street and Zions provide financing for OneRoof Energy. A group consisting of Morgan Stanley, Main Street Power Co and Zions Bancorporation has provided OneRoof Energy Inc with a US$100 million facility to enhance its current operations in providing financing for residential solar energy systems.
TNK-BP has posted 13% decline in net profit for the year 2012 after it agreed to be acquired by Russia's oil producer Rosneft.
