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Acquisitions and Divestitures News

Glencore to Cut Spending & Take $790m Writedown on Chad Oil Assets
Chad >> 8/13/2015 - Glencore cut back its spending plans for this year and said it would take a $790 million charge on oil assets in Chad after a fall in oil prices. ...
Beach Acquires AGL's Interest in Permit ATP 1056
Australia >> 8/12/2015 - Beach Energy has signed a binding agreement to acquire a 40% operating interest in the ATP 1056 permit from AGL Cooper Basin, a subsidiary of AGL Energy, for $1.15 million. ...
ConocoPhillips to Seek Buyers for Its Stake in South Natuna Block B
Indonesia >> 8/11/2015 - U.S. oil and gas company ConocoPhillips is reviewing its portfolio in Indonesia and may soon seek buyers for a stake in a production sharing block it operates in the Natuna Sea, company and government...
Oyster Issues Default Notice to Afren
Madagascar >> 8/10/2015 - Oyster Oil and Gas Ltd. on Friday 7th August notified Afren PLC of its failure to meet and maintain the financial obligations for its wholly owned subsidiary EAX Madagascar Limited ("EAX") and has iss...
Taipan Resources Enters LOI to Acquire 50% in PEL's Block 2769-13 (Salam)
Pakistan >> 8/10/2015 - Taipan Resources Inc. has entered into a non-binding letter of intent dated July 29, 2015 (the "Letter of Intent") with Petroleum Exploration Limited ("PEL") to acquire a 50% interest in PEL's Block 2...
LyondellBasell's Definitive Agreement to Acquire SJS Plastiblends
India >> 8/10/2015 - LyondellBasell (LYB), one of the world's largest plastics, chemical and refining companies, announced that it has entered into a definitive agreement for the acquisition of SJS Plastiblends Pvt. Ltd....
Rockhopper Strikes Deal with $22m for Beach Energy Assets in Egypt
Rockhopper Strikes Deal with $22m for Beach Energy Assets in Egypt Egypt >> 8/10/2015 - Rockhopper Exploration plc, the oil and gas exploration and production company with interests in the North Falkland Basin and the Greater Mediterranean and North Africa region, is pleased to announce ...
Shell to Sell Stake in Tongyi Lubricants to Huo’s Group & The Carlyle Group
China >> 8/7/2015 - Shell has signed an agreement to sell its 75% stake in Tongyi Lubricants in China to Huo’s Group and The Carlyle Group. The transaction is expected to complete by late 2015 or early 2016, subject to r...
Petromanas Receives Notification of Successful Bid on Block 4
Albania >> 8/6/2015 - Petromanas Energy Inc is pleased to announce that the Albanian National Agency of Natural Resources ("AKBN") has advised that the Company, together with its joint venture partner Royal Dutch Shell, is...
Prumo Sells 20% of Brazil Acu Oil Terminal to Oiltanking
Brazil >> 8/6/2015 - Prumo Logistica SA agreed to sell 20 percent of its oil terminal at Brazil's Port of Açu to Germany's Oiltanking for $200 million, Prumo said. ...
ExxonMobil to Increase Position in Permian Basin
United States >> 8/6/2015 - Exxon Mobil Corporation has executed two agreements to obtain horizontal development rights in 48,000 acres in the core of the Midland Basin. The two agreements include an acquisition and farm-in adjo...
Swala Needs FCC Approval to Complete Farm-out of Tanzanian Blocks
Tanzania >> 8/5/2015 - Swala Energy Limited (Swala) is pleased to advise that its subsidiary company Swala Oil and Gas (Tanzania) Plc (SOGTP) has received a no objection notice from the Tanzanian Ministry of Energy and Mine...
Otto Acquires Borealis Petroleum Pty Ltd
Otto Acquires Borealis Petroleum Pty Ltd Australia >> 8/5/2015 - Otto Energy Limited (Otto) has acquired 100% of the issued capital of Borealis Petroleum Pty Ltd (Borealis) to earn an interest, through staged capital injections, in a substantial acreage position on...
Hibiscus, Pacific Oil Awarded Concession Offshore Egypt
Hibiscus, Pacific Oil Awarded Concession Offshore Egypt Egypt >> 8/5/2015 - Hibiscus Petroleum Berhad is pleased to announce that its wholly-owned subsidiary, Gulf Hibiscus Limited, has been awarded the South East Ras El Ush concession (Block 2) in Egypt by the Ganoub El-Wadi...
Australia's Origin Energy to Sell Contact Energy Stake
New Zealand >> 8/4/2015 - Australia's Origin Energy said it will sell its controlling interest in New Zealand electricity generator and retailer Contact Energy and use the proceeds to reduce debt. ...
Egypt Awards 5 Oil And Gas Concessions Worth $100m
Egypt >> 8/3/2015 - Egypt has awarded five oil and gas concessions that are expected to bring in minimum total investments of about $100 million, the oil ministry said in a statement on Monday, as the country seeks to bo...
Papua LNG Project Operator Transition to Total Complete
Papua-New Guinea >> 8/3/2015 - Oil Search advises that Total E&P PNG Limited (Total) has become operator of the PRL 15 Joint Venture, including the Papua LNG Project, effective from 1 August 2015. This follows the unanimous vote by...
BP to Relinquish Three Offshore Blocks in Uruguay
Uruguay >> 8/3/2015 - British oil major BP has halted its deepwater exploration activities off Uruguay as it prioritizes lower-risk projects at a time of low international prices, an official at Uruguay's state-owned oil c...
Otto Energy Farms Down 10% Interest in SC55 to Pryce Gases
Philippines >> 7/31/2015 - Otto Energy subsidiary, Otto Energy Philippines, has signed a farm-in option agreement with Pryce Gases to earn a 10% working interest in SC55, offshore the Philippines. Following this farm-in, Otto w...
BHOS Students Taking Internship at Neft Dashlari
Azerbaijan >> 7/31/2015 - BHOS 2nd and 3rd year students on petroleum engineering are taking internship at Neft Dashlari (Oil Rocks) Petroleum Extraction Department of Azneft Production Union in order to practice their theoret...

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