A planned purchase by Prax Group of Shell’s 37.5% stake in the Schwedt refinery in Germany is being delayed by “pending lawsuits by third parties,” according to a report from Reuters.
French firm TotalEnergies (PAR: TTE) has sold its oil and gas fields West of Shetland to Prax Group.
Commodity trader Glencore Plc. will replace its rival Trafigura Group as the supplier of crude oil to a key refinery in the UK.
Shell Plc (LON: SHEL) agreed to sell its stake in the Schwedt refinery, a plant that supplies much of eastern Germany with fuel and has been caught up in Europe’s standoff with Moscow over the war in Ukraine.
“The acquisition marks another significant milestone for the Prax Group, and will create unique opportunities across the South African supply chain, meeting the needs of customers and communities for years to come.”
From Ithaca's Cambo to Shell's Victory, and everything in between…
Firm seeks to expand production six-fold through North Sea acquisitions
The UK-based oil and gas firm, Hurricane Energy (LON: HUR), has announced revenues of £31.7 million in the first quarter of this year.
Analysts see a fair deal with promising upside potential for Hurricane Energy shareholders in the wake of a takeover offer by Prax Group.
Boris Johnson has hosted the leaders of the UK oil and gas industry at Downing Street to discuss how to achieve “greater energy independence” for Britain.
Total has signed an agreement to sell the Lindsey refinery to independent British conglomerate Prax Group.