Caspian Sea Partners to Block Sinopec Participation

Five of the six partners in the North Caspian PSA are likely to exercise their pre-emptive rights to block Sinopec from acquiring an 8.33% stake from BG Group in the partnership. Inpex is the only partner that declined to exercise it's pre-emptive right in the bid to block CNOOC from acquiring an 8.33% stake.

The pre-emption deadline on Sinopec's deal is Thursday. It is expected that the deal will fail since CNOOC's bid was blocked. There is much speculation that ExxonMobil, ConocoPhillips and TotalFinaElf will exercise their pre-emption rights. Shell and ENI would likely follow suit.

Related Companies
 Company: Exxon Mobil Corporationmore info


 - ExxonMobil's $5.6B Acquisition Validates Permian as Core Operator Strategy (Jan 17)
 - Petrovietnam, Exxon Mobil Sign Deal On Gas Generation (Jan 13)
 - ExxonMobil Strikes More Oil Offshore Guyana (Jan 12)
 Company: Shellmore info


 - Norway Awards 56 Oil And Gas Licences In Mature Areas (Jan 17)
 - Southern North Sea Special Interest Group Launched (Nov 21)
 - Report: Growing Confidence in North Sea Oil, Gas Industry (Nov 14)
 Company: Total S.A.more info
 - Big Oil Back On The Acquisition Trail As Outlook Brightens (Jan 19)
 - Oil, Gas Firms Make Global 100 Most Sustainable Corporations List (Jan 19)
 - Norway Awards 56 Oil And Gas Licences In Mature Areas (Jan 17)
 Company: BG Groupmore info
 - Despite Cuts, Big Oil to Expand Production into the 2020s (Sep 5)
 - Sound Energy Appoints Ex-BG Exploration Lead (Aug 24)
 - Shell Misses Expectations As Earnings Plunge On Oil, BG Costs (Jul 28)
 Company: ConocoPhillipsmore info


 - Startup Of Malikai Oil Field To Boost Malaysia's Kimanis Exports (Dec 13)
 - US Shale Firms Go Back To Work Buoyed By OPEC Deal, Trump Victory (Nov 14)
 - ConocoPhillips Aims To Sell Up To $8 Billion In Gas Assets (Nov 10)
 Company: ENImore info


 - Oil, Gas Firms Make Global 100 Most Sustainable Corporations List (Jan 19)
 - Norway Awards 56 Oil And Gas Licences In Mature Areas (Jan 17)
 - Eni: Oil, Gas Discovery in Norwegian Sea (Jan 17)
 Company: Sinopecmore info
 - China's Sinopec Weighs Takeover Of Gulf Keystone (Dec 13)
 - Sao Tome To Terminate Oil Block With Sinopec-Sonangol Joint Venture (Dec 7)
 - China Oil Output Drops To 6-Year Low As State Giants Shut Fields (Sep 13)
 Company: Inpexmore info


 - Inpex, ADNOC Agree to Extend Offshore Abu Dhabi Joint Development Project (Jan 16)
 - Total, Shell, Eni Eligible to Bid for New Iran Oil, Gas Projects (Jan 3)
 - SOCAR, AIOC Agree to Develop ACG Field (Dec 23)
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours