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


 - Exxon Fined for Russia Sanctions Violations Under Tillerson (Jul 20)
 - Big Oil Sees Salvation in Gas, But What If It's a Wrong Bet? (Jul 18)
 - ExxonMobil Says Will Drop Discussions Over Indonesia's East Natuna (Jul 18)
 Company: Shellmore info


 - BP Says It Is Considering IPO of US Pipeline Assets (Jul 18)
 - Top Oil Market Summons Poseidon to US-Mideast Crude Fight (Jul 18)
 - Big Oil Sees Salvation in Gas, But What If It's a Wrong Bet? (Jul 18)
 Company: Total S.A.more info
 - Total, BP Unit, YPF Boost Investment in Argentina's Vaca Muerta (Jul 18)
 - Big Oil Sees Salvation in Gas, But What If It's a Wrong Bet? (Jul 18)
 - S.Korea's Hanwha Total Says Naphtha Cracker Shut After Lightning Strike (Jul 17)
 Company: BG Groupmore info
 - Shell Mulls LNG-Hub Network as Use by Ships and Trucks Expands (Jul 11)
 - Tanzania Laws Would Allow Govt to Tear Up Mining, Energy Deals (Jun 29)
 - Despite Cuts, Big Oil to Expand Production into the 2020s (Sep 5)
 Company: ConocoPhillipsmore info


 - ConocoPhillips to Sell Barnett Assets for $305 Million (Jun 29)
 - ConocoPhillips To Lay Off 300 In Canada After Cenovus Deal (May 4)
 - ConocoPhillips Posts Surprise Loss On Higher-Than-Expected Costs (May 2)
 Company: ENImore info


 - Mexico Delays Next Oil Auction to Let Huge New Find Sink In (Jul 17)
 - Trump Administration Approves Eni Plan To Drill Offshore Alaska (Jul 13)
 - Total To Drill For Gas Off Cyprus Despite Collapse Of Peace Talks (Jul 12)
 Company: Sinopecmore info
 - South Africa Wants Sinopec to Retain Refinery Capacity (May 25)
 - China's Unipec Will Keep Reselling Term LNG Cargoes -President (May 17)
 - China's Sinopec Buys First Major African Refinery In Chevron Deal (Mar 22)
 Company: Inpexmore info


 - Inpex Says Floating Unit For Australia LNG Project To Set Sail Soon (Jul 10)
 - Lukoil Finds Oil at Iraq Well (Feb 22)
 - Japan's Inpex Sticks To Australia Ichthys LNG Output Target (Feb 10)
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


Brent Crude Oil : $48.6/BBL 1.12%
Light Crude Oil : $46.34/BBL 1.24%
Natural Gas : $2.9/MMBtu 2.35%
Updated in last 24 hours