News Topics: Property Acquisitions & Divestitures

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Exxon To Sell Its Norway-Operated Oilfields
Wednesday, March 29, 2017 Exxon Mobil agrees to sell its operated upstream business in Norway to private equity firm HitecVision and oil company Point Resources for an undisclosed sum.

Shell to Sell Gabon Onshore Assets for $587MM, 430 Staff to be Transferred
Friday, March 24, 2017 Royal Dutch Shell plc reaches an agreement with Assala Energy Holdings Ltd. to sell 100% of its Gabon onshore interests for $587 million.

Shell Reluctant To Part With California Refinery Amid Asset Sale
Thursday, March 23, 2017 Royal Dutch Shell is in talks with several potential buyers for its refinery outside of San Francisco, but the Anglo-Dutch oil giant is reluctant to part with its last asset in California.

Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce
Wednesday, March 22, 2017 Top bidders included Shell Offshore, Statoil, Chevron and Hess, each offering more than $44 million for access to offshore exploration and production, according to federal records.

China's Sinopec Buys First Major African Refinery In Chevron Deal
Wednesday, March 22, 2017 China's Sinopec agrees to pay almost $1 billion for a 75% stake in Chevron Corp's South African assets and its subsidiary in Botswana, securing its first major refinery on the continent.

India Eases Rules For Old Oil, Gas Blocks; To Unlock $21B Reserves
Wednesday, March 22, 2017 India approves a policy allowing extra time to contractors of old blocks to unlock oil and gas reserves of more than 426 million barrels.

Marathon Adds To Permian Acreage With $700MM Buy
Tuesday, March 21, 2017 Marathon Oil Corp buys additional acreage in the Permian basin for about $700 million.

Italy Gives Final Approval To Intesa Funding Of Russian Oil Deal
Monday, March 20, 2017 Italy has given its final blessing to a 5.2 billion euro loan made in January by bank Intesa SanPaolo to finance the privatisation of a stake in Russia's biggest oil company.

Newcomer Borr Scoops Up Transocean Rigs For $1.4B As Dealmaking Heats Up
Monday, March 20, 2017 Borr Drilling, founded by former executives of financially troubled Seadrill, has snapped up Transocean's fleet of shallow-water drilling rigs for $1.35 billion.

Borr Drilling Signs Deal With Transocean to Buy 15 Rigs
Monday, March 20, 2017 Borr Drilling Limited signs a deal with Transocean for the acquisition of 15 high-specification jack-up rigs.

BP Halves Stake In New Zealand's Only Oil Refinery
Friday, March 17, 2017 BP Plc sells around half its roughly 20% stake in New Zealand Refining Company Limited for NZ$80.4 million ($56.2 million) as part of a global portfolio review.

China's Sinopec Close To Snapping Up Chevron's South African Oil Assets
Friday, March 17, 2017 China Petroleum and Chemical Corp (Sinopec) is nearing an agreement to buy a majority stake in Chevron Corp's South African assets.

Montenegro Signs 30-Year Oil Licensing Deal With Greek Producer
Wednesday, March 15, 2017 Montenegro awarded Greece's sole oil producer Energean Oil & Gas a 30-year oil and gas exploration licences in two offshore blocks in the Adriatic sea.

Norway Proposes Record Number Of Barents Oil Exploration Blocks
Monday, March 13, 2017 Norway announced preliminary plans to nominate a record number of blocks for oil and gas exploration in the Barents Sea.

China's CEFC Courts 'Teapots' For First Domestic Refinery Acquisition
Friday, March 10, 2017 CEFC China Energy approaches several independent Chinese oil processors seeking to acquire its first domestic refinery operation, its next move towards becoming a global integrated oil player.

Shell Sells Canadian Oil Sands, Ties Bonuses To Emissions Cuts
Thursday, March 09, 2017 Shell has agreed to sell most of its Canadian oil sands assets for $8.5B.

ExxonMobil Agrees to Buy 25% Stake in Mozambique's Area 4 Block
Thursday, March 09, 2017 ExxonMobil agrees to acquire a 25% indirect interest in offshore Mozambique's Area 4 block from Eni.

Pine Brook, Riverstone to Invest Up to $600 Million in Permian
Thursday, March 09, 2017 Private equity firms Pine Brook and Riverstone Holdings agreed to invest as much as $600 million in a newly created oil and natural gas explorer in Texas's energy-rich Permian Basin.

INEOS Increases UK Shale License Acreage
Thursday, March 09, 2017 INEOS Shale, the onshore division of INEOS Upstream, completes the acquisition of the entire UK onshore petroleum exploration and development license interests of ENGIE E&P UK Limited.

Eni Agrees Cyprus Block 11 Farm-in
Wednesday, March 08, 2017 Eni finalizes a farm-in agreement with Total to acquire a 50% participating interest in Block 11, offshore Cyprus.

OMV Acquires Yuzhno Russkoye Interest for $1.85B
Monday, March 06, 2017 OMV acquires a 24.99% participation interest in the Yuzhno Russkoye natural gas field from Uniper SE for a purchase price of $1.85 billion.

ONGC Said to See Spending Plans Curtailed by Potential Merger
Thursday, March 02, 2017 India's plan to push its top oil producer to fund a takeover of a state refining company may threaten some near-term investments.

Deal Of The Month: Noble Invests $3.75 Billion Into Leviathan
Tuesday, February 28, 2017 Noble Energy's multi-billion dollar investment indicate belief that offshore gas can turn a sizable profit and majors may soon follow the US independent's lead.

Total Sells Gabon Assets to Perenco for $350MM
Monday, February 27, 2017 Total S.A. signs an agreement for the sale of stakes and the transfer of operatorship in various mature assets in Gabon to Perenco for a total value of around $350 million.

Thailand's PTT Interested In Petronas Offshore Gas Stake
Wednesday, February 22, 2017 Thailand's PTT Pcl is interested in bidding for a stake in the SK316 offshore gas block in Malaysia's state of Sarawak, Chief Executive Thewin Wongwanich says.

Abu Dhabi Awards China's CEFC 4% Of Oil Concession For $900MM
Monday, February 20, 2017 Abu Dhabi awards the final 4% interest in its onshore oil concession.

India Awards 31 Oil And Gas Blocks
Wednesday, February 15, 2017 India approves the award of operating licenses for 31 small oil and gas fields.

Eni Completes Sale of 10% Shorouk Concession Interest
Tuesday, February 14, 2017 Eni SpA completes the sale of a 10% interest in the Shorouk concession offshore Egypt to BP plc.

Brazil Court Suspends $5.2B Sale Of Petrobras Unit To Brookfield
Friday, February 10, 2017 A Brazilian federal court suspended the $5.2B sale of state-controlled Petrbras' natural gas pipeline unit to a group of investors led by Canada's Brookfield Asset Management Inc.

Norwest Achieves Farm-Out of 160MM Barrel Xanadu Prospect
Friday, February 10, 2017 Norwest Energy NL enters agreements to achieve the full farm-out of its 160 million barrel Xanadu TP/15 prospect, located in the offshore northern Perth Basin of Western Australia.

White & Case Advises Saudi Aramco On World's Biggest IPO
Thursday, February 09, 2017 Saudi Aramco appoints international law firm White & Case as legal adviser for its planned initial public offering (IPO), expected to be the world's biggest.

MOL Group Acquires New Licenses in Hungary
Tuesday, February 07, 2017 MOL Group expands its exploration portfolio by acquiring new licenses in Hungary.

Trading Giant Glencore Extends Major Libyan Oil Deal
Monday, February 06, 2017 Glencore extends a deal with Libya's state oil firm to be the sole marketer of one third of the country's current crude oil production, sources familiar with the matter say.

Banking Sources: Shell Looking to Sell Stake in Danish Venture
Monday, February 06, 2017 Royal Dutch Shell is seeking to sell its stake in Denmark's offshore oil and gas consortium for around $1 billion in what would mark the company's effective exit from the country, three banking sources said.

Shell Nears Another $5B In Sales To Ease Debt Load
Thursday, February 02, 2017 Shell is nearing deals to divest $5 billion of assets.

Statoil Completes Sale of Entire Oil Sands Operations in Alberta, Canada
Wednesday, February 01, 2017 Statoil completes the sale of its entire oil sands operations in the Canadian province of Alberta to Athabasca Oil Corporation.

Shell To Sell North Sea Assets To Chrysaor For $3.8B
Tuesday, January 31, 2017 Shell agrees to sell a package of oil and gas fields to private equity-backed Chrysaor for $3.8 billion.

Shell Sells Thailand Gas Field Stake To Kuwait's Kufpec For $900MM
Tuesday, January 31, 2017 Royal Dutch Shell says it will sell its stake in Thailand's Bongkot gas field to Kuwait Foreign Petroleum Exploration Company for $900 million.


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