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Iran Oil Chief Shakes Up Oil Firm in Bid to Strike Pre-election Deals

June 28, 2016

Oil minister Bijan Zanganeh has handed the running of Iran’s national oil company to a trusted ally in a push to agree long-awaited deals with global oil majors, which could be derailed by next year’s presidential polls. Iran has pledged to open up its lucrative oil reserves, the world’s fourth largest, although hardline rivals of… Continue Reading »

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GE’s Oil Unit Seen Finding `Missing Piece’ With Baker Hughes

April 11, 2016

General Electric Co. could become one of the top players in the oil services and equipment industry if it decides to bid for Baker Hughes Inc. A Justice Department lawsuit filed this week against Halliburton Co. to stop the merger of the world’s second- and third-largest oilfield service companies could soon put Baker Hughes back… Continue Reading »

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Suncor CEO Has No Plans to Boost Price for Canadian Oil Sands

January 6, 2016

Suncor Energy Inc. Chief Executive Officer Steve Williams said he has no plans to sweeten the offer for Canadian Oil Sands Ltd. and that a majority of shareholders support the bid. Suncor’s offer of 0.25 share for each of Canadian Oil Sands’ expires on Friday. Canadian Oil Sands shares could fall as much as 40 percent without… Continue Reading »

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Mexico’s Oil Regulator Awards First Onshore Contract At Auction

December 16, 2015

Mexico’s oil regulator awarded the first onshore contract up for grabs at Tuesday’s auction, a tender aimed at boosting start-up oil companies following a historic sector reform finalized last year. Mexican firm Compania Petrolera Perseus won the development rights to the 10.6 square mile (27.5 sq km) Tajon oil field in southern Tabasco state, by… Continue Reading »

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No Keystone, No Problem: TransCanada Turns to Mexico Expansion

November 20, 2015

Days after the U.S. spurned TransCanada Corp.’s proposal to expand its Keystone pipeline network across North America, Mexico opened its arms. TransCanada won the rights last week for its sixth pipeline in Mexico, one of the company’s key targets for growth. The Nov. 10 decision came four days after the U.S. denied TransCanada’s bid to… Continue Reading »

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Australia Delays Decision on Shell Bid for BG on Gas Supply Concerns

September 20, 2015

Australia’s competition watchdog flagged concerns on Thursday that Royal Dutch Shell’s proposed $70 billion takeover of BG Group may lessen gas supply competition in eastern Australia and delayed a final decision on the bid to November. The Australian Competition and Consumer Commission (ACCC) said a large number of market participants had expressed concerns that the… Continue Reading »

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Mexico Sets Minimum Bid Values For Upcoming Offshore Oil Auction

September 16, 2015

Mexico’s finance ministry on Monday announced the minimum fiscal terms companies will be required to meet to win development rights in an upcoming oil auction, as the country seeks to lure investment despite slumping crude prices. The ministry set the minimum value of pre-tax profits for the five offshore extraction contracts up for grabs at… Continue Reading »

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Oil Search Rejects Woodside’s $8B Takeover Bid as Too Low

September 15, 2015

Oil Search Ltd. rejected Woodside Petroleum Ltd.’s $8 billion takeover bid, saying the proposal undervalues the company’s liquefied natural gas expansion plans in Papua New Guinea. “The feedback we got from all the major shareholders we consulted with confirmed that the proposal was one that should be rejected,” Oil Search Chairman Rick Lee said on… Continue Reading »

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BG Says European Commission Signs Off on Shell Bid

September 3, 2015

BG Group Plc said the European Union’s antitrust regulators had approved Royal Dutch Shell Plc’s $70 billion takeover bid for the oil and gas producer. The deal, which will help Shell compete better with world No. 1 oil major ExxonMobil, has already received the green light from regulators in the United States, Brazil and South Korea. BG and Shell still… Continue Reading »

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Mexico to Tender Batch of Onshore Oil Fields in Energy Opening

May 12, 2015

Mexico’s oil sector regulator approved on Monday the call for bids for its next package of contracts covering 26 onshore areas, part of the country’s historic energy industry opening after decades of state control. The onshore oil and gas areas to be tendered are spread across five states and contain 2.5 billion barrels of oil… Continue Reading »

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