Malaysia’s law minister on Friday said the government hasn’t received a formal notice of an attempt to seize the Southeast Asian country’s assets in Luxembourg by descendants of the sultanate of Sulu.
Indonesia’s national energy company Pertamina is seeking an advisor to farm-out its upstream assets in the southeast Asian nation. Significantly, the company is seeking to sell down interests in five upstream assets that it operates.
Industry sources have told Energy Voice that liquidators for financially crippled Asia-focused upstream player KrisEnergy are accepting non-binding offers for the Singapore-based company’s assets.
Singapore’s KrisEnergy is on the verge of collapse and eagle-eyed investors, seeking assets at bargain prices, are preparing to pick over the company’s carcass. However, given KrisEnergy’s recent dismal performance in Cambodia, there is not much left of interest.
Saudi Arabian Oil Co., the world’s largest crude exporter, is among second-round bidders for a Turkish fuel retailer owned by OMV AG, central Europe’s biggest oil and gas company, according to three people with direct knowledge of the matter.
Abu Dhabi National Energy Co., which produces oil and natural gas from Canada to North Africa, reported a net loss for the first quarter as revenue declined because of lower crude and natural gas prices.
Petroceltic said it was considering a number of options for the company’s future including the sale of some or all of its assets.
The board said options being considered include a farm-out or sale of one or more the company’s existing assets, a merger with a third part, or the sale of its entire issued share capital in
the form of debt or subscription of new ordinary shares.
Transatlantic Petroleum has launched a marketing process for the sale of its oil and gas assets in Albania.
The company said the move had been authorised by its board of directors and the marketing process will now be pursued.
Russia's Rosneft, the world's top listed oil producer by output, has offered Japanese companies a chance to join projects in Russia's East Siberia and Far East, Chief Executive Igor Sechin said on Friday.
There is a huge potential for cooperation between the two countries, he said, in offering Japanese firms the opportunity to participate in the Verkhnechonskoye, Srednebotuobinskoye, Tagulskoye and Russkoye projects, as well as in other developments already in operation or yet to be launched.
"We proposed to our Japanese partners deals with total reserves of six billion barrels and with a resource base of 100 billion barrels," Sechin told an industry symposium in Tokyo.
Range Resources has signed an agreement to sell its Nora assets for $876million.
The properties encompass 3,500 operated wells and 460,000 net acres located in Virginia.
The company said the sale is scheduled to close by year-end and is subject to customary closing conditions and purchase price adjustments.
Wood Group PSN (WGPSN) is in consultation with its staff over a move to three on, three off rotation on Shell assets in the North Sea.
The company said it was working with employees who would be affected by the changes as well as the oil major and unions.
Earlier this year Shell revealed it would be moving to a three on, three off shift pattern in January next year.