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.
Energy
Spain's Repsol Sells 5% Stake to Singapore's Temasek
Oil group Repsol reached a deal for the sale of its 5% stake to Singaporean government fund Temasek as it hopes for financial stability.
Repsol Acquires More Funding
Temasek increases stake in Repsol. Repsol, the oil conglomerate from Spain, has announced the sale of another 5% interest to the Singaporean government fund, Temasek.
Britain's Ophir Energy Eyed as Takeover Target
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.
EPF Urges Petronas to Raise MISC Buyout Price
Petronas or Petroliam Nasional is being urged by Employees Provident Fund to increase its price to buyout liquefied natural gas shipper MISC.
Latest News
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.
Freeport reached an agreement to acquire Plains Exploration & Production Co. and McMoran Exploration Co. with proceeds to fund its move to enter oil and gas production market.
Sinopec gets sweetheart deal according to analysts. The US$1. 02 billion deal entered into China Petrochemical for Chesapeake Energy Corp shale oilfield interests is just one third of its actual value.
Rosneft expects to get EU approval of TNK-BP takeover. An unnamed source familiar with the deal has intimated that Rosneft, the Russian oil conglomerate would get unconditional European Union regulatory approval of its takeover of TNK-BP.
Rosneft is confident it would get approval from the European Commission for its deal to buy TNK-BP. Russian oil producer Rosneft said that it is likely to get regulatory approval from the European Union for its bid to acquire TNK-BP, a source familiar with the matter disclosed.
