Aberdeenshire firm Elemental Energies seals Norwegian takeover
Deal is expected to boost north-east company's revenue by more than £50 million this year.
Markets
Wood knocks back second takeover bid worth nearly £1.5 billion
Aberdeen company Wood (WG.L) has rejected a second, improved takeover bid, worth nearly £1.5 billion from a Middle East suitor.
Shell has no plans for New York listing, prefers share buyback
Shell (LON: SHEL) has no plans to list in New York, preferring to focus on its share buyback scheme to increase its value.
BP, Shell among oil majors condemned by US lawmakers
Democratic lawmakers in the US lambasted oil majors in a new report on Tuesday (30 April), claiming that the industry has engaged in “an elaborate campaign of deception and doublespeak” to forestall meaningful climate action and sustain their outsized profits.
BP quiet on climate strategy ahead of today’s AGM
BP (LON:BP) is expected to step back from its usual climate-strategy-focus at its Annual General Meeting (AGM) later today, analysts have said.
Houston would welcome Shell and BP, says ex US energy sec
“I’m inviting all European oil and gas companies to relocate to America."
‘UK powerhouse’: Ithaca Energy confirms North Sea combination with Italian oil giant Eni
The combined UK group will produce over 100,000 barrels per day with a market cap of around £2bn.
Halliburton posts highest quarterly revenue in over a decade
Halliburton has posted its highest quarterly earnings in over a decade after bringing in total revenues of $5.8 billion (£4.6bn) in the first quarter of 2024.
Wood Group faces call from Sparta Capital to explore sale or US listing
Call from Sparta Capital Management comes a year after collapse of £1.7bn Wood takeover bid from private equity giant Apollo.
Shell mulls quitting ‘undervalued’ London Stock Market for New York
Shell (LON: SHEL) CEO Wael Sawan has said he is open to moving the supermajor’s primary stock listing from London to New York.
Financial expert on ‘if you do oil and gas, we’re not interested’ attitude
There are still a number of barriers to entry for clean energy technologies while oil and gas is offering up work, creating a Catch-22 situation for supply chain firms seeking investment.
Early expert support key to keeping afloat
While the M&A market has faced its challenges, it has largely held up during the last 12 months, with many corporate finance advisers reporting, perhaps unexpectedly so, that they have experienced a strong deals flow throughout the year.
Exxon sees lower first-quarter earnings on commodity prices, trading
Exxon Mobil Corp.’s first-quarter earnings will likely be lower than in the prior three-month period due to falling oil and gas prices as well as a drop in profit from mark-to-market derivatives.
The UK Budget in its economic context
The UK Budget should be assessed in relation to its macroeconomic (aggregate) effects and in relation to its impact on individual elements (i.e. microeconomic effects).
OPEC+ extends oil cuts, with Russia bolstering its effort
OPEC+ extended its oil supply cutbacks to the middle of the year in a bid to avert a global surplus and shore up prices.
Husband snooping on wife’s BP M&A work gets insider trading charge
A Texas man made almost $2 million by illegally trading on his wife’s conversations with her BP Plc (LON:BP) colleagues, according to the US Securities and Exchange Commission in its latest case about couples eavesdropping while working from home.
Now is the time to seize the energy transition opportunity
Demand for offshore wind is there - so how we can ensure that all Scottish businesses benefit from the energy transition opportunity now and in the future? Jamie Sansom, team lead of offshore wind at Scottish Enterprise, discusses this important question.
Mergers and acquisitions outlook for evolving energy services sector
The profitability of oil and gas versus the excitement for renewables is creating an interesting dynamic for investors across the energy industry.
Averroes Capital completes the buyout of Glacier Energy
Averroes Capital is pleased to announce the buyout of Glacier Energy, a specialist provider of products, services and engineered solutions for energy and industrial markets.
What is the M&A outlook for the evolving energy services sector?
The experts at Hutcheon Mearns discuss the energy M&A outlook for 2024.
Fitch downgrades Petrofac credit rating following share price trouble
Credit ratings agency Fitch has downgraded its assessment of North Sea operator Petrofac (LON: PFC) to a 'B-' in the latest sign of financial trouble at the firm.
Australian oil and gas majors Santos and Woodside confirm £40bn merger talks
Australian oil and gas giants Santos (ASX: STO) and Woodside Energy (ASX: WDS) have confirmed ongoing discussions on a A$80 billion (£40bn) potential merger.
COP 28 holds key to global carbon market that could help improve offsets
Climate negotiators at COP28 may bolster carbon trading when they decide on rules for a new United Nations-overseen emissions market that can lower the cost of fighting global warming.
French fund rule puts $7.6 billion of oil, gas assets at risk
A French rule targeting ESG funds has the potential to force oil and gas divestments of €7 billion ($7.6 billion), according to an analysis by Morningstar Inc (NYSE: MORN).
‘Mixed bag’: Analysts react to BP third quarter results
The reaction from oil and gas analysts has been fairly muted after BP (LON: BP) published its third quarter financial results earlier today.