Global energy companies are shifting to ESG investing; but what are the drivers to decarbonise and the innovative approaches being deployed? In this new series, Mike Scott takes the temperature of the industry’s response to date, as well as the challenges ahead that this shift will present.
Ithaca has agreed to acquire the North Sea assets of Marubeni in a $1billion deal, according to a news report.
Abu Dhabi National Oil Co. (ADNOC) is planning to sell shares in its drilling unit in what would rank among the largest initial public offerings (IPO) in the United Arab Emirates.
North Sea stalwart Neill Carson is celebrating a maiden acquisition at Quattro Energy – the fourth oil and gas vehicle he has co-founded.
Following Santos' proposed takeover offer for Oil Search, which has major stakes in Papua New Guinea’s emerging LNG sector, a bidding war could emerge. Likely acquirers include ExxonMobil and TotalEnergies, both of which have big shares in the PNG projects.
Shell has failed to generate any significant interest in the sales process for its share of the giant Abadi LNG project one year after the Indonesian government announced the Anglo-Dutch supermajor’s intention to divest.
Gneiss Energy (“Gneiss”) celebrates its five-year anniversary hot off the heels of announcing its 10th transaction of 2021, representing a productive start to 2021 for the advisory firm across all of its sector teams.
ConocoPhillips is seeking to sell its share in the giant Corridor onshore gas block in Indonesia estimated to be worth more than $1.5 billion. However, given the scale of the project and uncertainties around its future, the US major could struggle to find a buyer.
Petronas and Hess have agreed amendments to an existing upstream gas sales agreement for fields offshore Malaysia that cements the value of the US-based company’s North Malay Basin assets. This makes any potential divestment process easier as Hess focuses on its prolific acreage offshore Guyana.
Spanish player Repsol has agreed to sell its operated assets in Malaysia and Block 46 CN in Vietnam to Kuala-Lumpur listed Hibiscus Petroleum. Operating the new assets will mark a massive step up for Hibiscus.
SSE maintained healthy profits in 2020, despite the impact of the Covid-19 pandemic, racking up proceeds from assets sales of nearly £2billion.
JX Nippon Exploration and Production Ltd. is preparing the sale of its oil and gas fields in the UK North Sea, according to people with knowledge of the matter.
Philippine tycoon Dennis Uy's Udenna conglomerate struck a deal worth up to $460 million to buy a gas exploration and development company from Shell last week. The deal, which attracted a premium valuation and boosts Udenna’s share in the Malampaya gas field to 90%, is positive for both the Philippines and Shell.
Chinese national oil company Sinopec is eyeing upstream merger and acquisition opportunities.
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.
Pioneer Natural Resources Co. is buying DoublePoint Energy LLC in a deal valued at $6.4 billion, less than three months after completing its purchase of fellow shale driller Parsley Energy Inc. as it expands in the U.S. Permian Basin.
The UK North Sea is next on the list of growth targets for Ineos Energy, according to executive chairman Brian Gilvary.
BP is fielding final bids from a handful of junior energy companies for its North Sea assets, according to people familiar with the matter.
Law firm Womble Bond Dickinson and consultancy ROOTT discuss the oil and gas services sector M&A trends expected in 2021.
London-listed EnQuest said today it had completed the £13 million acquisition of a stake in the Bressay field from Equinor.
Whether dealing with failure of a major project, reacting to crises at counterparties or weighed down by oil price weakness, many companies in the oil sector will have to undertake financial restructuring in 2021.
In a challenging year for Chinese companies pursuing acquisitions abroad, Latin America emerged as a region where they were able to make some corporate marriages work.
With $14 billion of commitments before 2024, according to Rystad, decommissioning costs have long been a risk to and blocker in transactions, especially portfolio and corporate deals. The sector has moved a long way since early stage bilateral decommissioning agreements as sellers sought to navigate Section 29 of the Energy Act 2008 and other commercial risks in pursuit of the “clean break”.
Independent exploration and production (E&P) firms that fail to adjust to the energy transition face extinction before 2050, an analyst said today.
Mergers and acquisitions have been slowed by the COVID-19 outbreak. But as companies embrace the energy transition opportunities will arise