Latest news
Total to purchase Maersk Oil for $7.45 billion
Transport and logistics company Maersk decided to sell 100% of its equity of its oil and gas unit, E&P company Maersk Oil & Gas (Maersk Oil), to Total for $7.45 billion. The deal will signify the start of Maersk moving towards its dismembering, which is estimated to be the biggest single transaction.
read more... 21/08/2017
Nigeria state oil firm drives production price of oil barrel from $29 to $23
Nigeria announced that it has reduced the production cost per barrel of crude oil from $29 last month to $23. The cut in price follows complaints about the price of the barrel being the highest in the world.
read more... 17/08/2017
Transocean to acquire competitor Songa Offshore for $1.1 billion
One of the world’s biggest oil rig operator, Transocean, is about to acquire its Norwegian rival Songa Offshore. The acquisition will be carried out through shares and convertible bonds, all worth 9.1 billion crowns ($1.1 billion).
read more... 16/08/2017
OMV does not expect a cash call from Nord Stream 2 until the end of the year
OMV is confident that Gazprom-owned Nord Stream 2 won’t be making any more cash calls until the end of the current year. OMV has already settled the first €200 million portion of its funding obligation for the construction of the 55 bcm/year pipeline from Russia to Germany.
read more... 15/08/2017
.jpg)
OPEC fails to reduce oil production, registers highest output of the year
OPEC oil output for July skyrocketed by 173,000 barrels a day to almost 32.9 million barrels, which once again proves that major oil producers can’t keep up with their plan to pump less oil.
read more... 11/08/2017