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Acquisitions and Divestitures News

Abu Dhabi's Adnoc ‘Open’ to More Partners at Onshore Oil Fields
United Arab Emirates >> 3/29/2016 - Abu Dhabi National Oil Co. is willing to accept additional partners at its main onshore fields, a senior company official said, almost a year after awarding less than half the production rights it off...
Eni Awarded New Exploration Licence Offshore Ghana
Ghana >> 3/29/2016 - Eni has been awarded a new exploration licence, the Cape Three Points Block 4, located in the prolific Tano basin, offshore Ghana. This acquisition will further strengthen the company’s position in th...
Engie Wins Concession for Antwerp Port LNG Bunkering Facility
Belgium >> 3/24/2016 - French gas and power utility Engie has been granted a 30-year concession by the Antwerp Port Authority in Belgium to build and operate a liquefied natural gas (LNG) bunkering station for barges, the c...
China's ENN Buys $750 mln Stake in Australia's Santos
China >> 3/24/2016 - Chinese private gas distributor ENN is set to become the top shareholder in Australia's Santos Ltd after agreeing to buy an 11.7 percent stake for $750 million from Hony Capital, in a push to get into...
PA Resources Completes Divestment of North Sea Assets to Petrogas
Sweden >> 3/24/2016 - PA Resources AB has completed the transaction with Petrogas E&P announced on 9 February, 2016 regarding the divestment of its portfolio of North Sea assets. The agreement is based on the sale of three...
Kina Petroleum and Heritage Oil to Relinquish PPL 337
Papua-New Guinea >> 3/24/2016 - Kina Petroleum (KPL) has provided an update in respect of the PPL 337 exploration licence. During 2015, KPL were fully carried by Heritage Oil to drill two wells in PPL 337: Raintree-1 and Kwila-1. Wh...
CLNR Signs HoT for Proposed Acquisition of North Sea Licences
United Kingdom >> 3/23/2016 - CLNR, the natural resources investing company with gas assets in the Southern North Sea, has signed Heads of Terms with Verus Petroleum (CNS) Limited and Verus Petroleum (SNS) Limited (both wholly-own...
GoM Lease Sale Yields $156m in High Bids on 693,962 Acres
United States >> 3/23/2016 - As part of the Obama Administration's continued commitment to safe and responsible domestic energy production, Department of the Interior Assistant Secretary for Land and Minerals Management Janice Sc...
New Zealand Oil & Gas to Relinquish Kaheru Permit PEP52181
New Zealand >> 3/23/2016 - The joint venture in PEP 52181 (Kaheru), offshore South Taranaki, has submitted an application to surrender the permit. Operator New Zealand Oil & Gas announced in February that economic conditions co...
Bashneft's Board of Directors Approves the Purchase of a 19% Shareholding in Ufaorgsintez
Russia >> 3/18/2016 - In accordance with a directive of the Government of the Russian Federation, today Bashneft’s Board of Directors has resolved that the Company should acquire a stake in the authorized share capital of ...
Rosneft Confirmed Its Interest to Enter Essar Oil Limited Share Capital
Russia >> 3/16/2016 - During the visit to India Rosneft Chairman of the Management Board Igor Sechin has held negotiations with the Management of Essar. Preliminary mutual understanding has been achieved on the timing and ...
Elixir Still in Talks to Acquire AWE's Interest in Producing Perth Basin Cliff Head Field
Australia >> 3/16/2016 - Elixir Petroleum and AWE continue to work towards execution of an agreement for Elixir to acquire a 57.5% Working Interest in the producing Cliff Head oil field located in the Perth Basin, Western Aus...
Agreement Signed on Rehabilitation & Production Sharing for 3 Block
Azerbaijan >> 3/16/2016 - SOCAR, Zenith Aran Oil Company Limited and SOCAR Oil Affiliate have signed the Agreement on the Rehabilitation, Exploration, Development and Production Sharing for the Block including the Muradkhanli,...
Chevron Said to Work With Rothschild on S. Africa Stake Sale
South Africa >> 3/16/2016 - Chevron Corp., the second-largest U.S. oil producer, is working with investment bank Rothschild & Co. on plans to sell a 75 percent stake in its South African unit, according to people familiar with t...
NOVATEK and China's Silk Road Fund Conclude Selling 9.9% Stake in Yamal LNG
Russia >> 3/15/2016 - OAO NOVATEK announced the closing of a transaction to sell a 9.9% equity stake in the Yamal LNG project (“Project”) to China’s Silk Road Fund (“SRF”) for a payment amounting to EUR 1,087 million. ...
China's CNOOC Eyes Petrobras' Stake in Braskem
Brazil >> 3/14/2016 - China's CNOOC Ltd is interested in purchasing a minority stake in Brazilian petrochemical company Braskem SA from state-run Petroleo Brasileiro SA, a Brazilian newspaper said. ...
Madalena Energy Terminates Coiron Amargo Acquisition & Offering
Argentina >> 3/14/2016 - Madalena Energy Inc. announces that, due to prevailing market conditions, it has elected not to proceed with the acquisition of an additional 10% working interest in the Coiron Amargo block in Argenti...
Touchstone Exploration Terminates Trinidad Asset Acquisition Agreement
Trinidad and Tobago >> 3/14/2016 - Touchstone Exploration Inc. announces that the previously announced agreement to purchase certain Trinidad onshore producing assets for US$20.8 million has been terminated pursuant to the terms of the...
Cub Expanded 20-Year Production License
Ukraine >> 3/14/2016 - Cub Energy Inc. (Cub) announces that its wholly-owned subsidiary, Tysagaz LLC, has been granted a production license with additional acreage in western Ukraine. The new Uzhgorod license covers approxi...
SAFCO Eyes Potential Buy of SABIC's stake in JV
Saudi Arabia >> 3/13/2016 - Saudi Arabia Fertilizers Co 2020.SE (SAFCO) is considering taking full control of chemical fertilizer producer Ibn Al-Bayttar by buying out its joint venture partner Saudi Arabia Basic Industries Corp...

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