Northstar alleges collusion by Chesapeake and Encana for oil and gas rights. A Michigan landowner is suing both Chesapeake Energy Corp and Encana Corp for antitrust violations alleging collusion between the two energy firms to rig the results of a bidding process for oil and gas rights held back in 2010.
Energy
Freeport to Fund Two Separate Energy Deals Through Private Placement
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 Two Thirds Discount with Deal
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-TNK-BP Deal to be Okayed
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 Confident to Get EU Approval for TNK-BP Takeover
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.
Latest News
The contentious $15.1 billion takeover of Canadian oil and gas company Nexen Inc by Chinese state-owned entity CNOOC Ltd closed on Monday
Sinopec purchases 850,000 acres for US$1.02 billion. Half of Chesapeake Energy Corp's assets has just been purchased by China Petroleum and Chemical Corp or Sinopec.
Greenbriar has been negotiation to buy solar product properties as it focuses on expanding real estate business.
Copperbelt will pay $164 million to take 60% stake at Abuja Electricity Copperbelt Energy Corp. of Zambia has announced that it would acquire 60% of the stake at Abuja Electricity Distribution Co.
Areva, a nuclear group in France, has said it Fennovoima might terminate the company from deals on supply for the reactor site in Japan.
Italian oil major Eni and Russia's Rosneft have both agreed to develop trading and logistics opportunities.
Brazil's OGX Petroleo is being rumored to have a plan of selling a stake to Malaysian oil company Petronas.
Rosneft and TNK-BP are expected to sign $55 billion agreement to mark one of the largest acquisitions in the oil industry.
Canada's OMERS pension fund poised to make major purposes in 2013. OMERS, one of Canada's leading pension funds, announced last Friday that it is now in the process of diversifying its portfolio away from traditional areas such as North America, the United Kingdom and Western Europe.
