Companies

Occidental Says Crownrock Deal Delayed by FTC Requests of 'Everything'

Occidental Petroleum on Thursday said a U.S. regulator's second request for information on the acquisition of shale producer CrownRock has pushed back the deal's closing date to second half this year.

Woodside Urged to Abandon $57 Billion Santos Merger by Major Shareholder

Woodside should walk away from its proposed $57 billion merger with Santos rather than pay a premium for its smaller rival, a large shareholder said on Thursday, a sign of the deep divide between both sides over fair value.

Business News January 2024

Association news, personnel changes and mergers and acquisitions in January 2024!

19th Pipeline Technology Conference Returns to Berlin in 2024

(P&GJ) — The 19th Pipeline Technology Conference (ptc) is set to return to Berlin, Germany, from April 8 to 11, 2024, bringing together global experts and innovators in the pipeline industry.

LNG Developer Tellurian Names New President as Shakeup Continues

Tellurian said on Monday it appointed a new president and general counsel, days after the U.S. liquefied natural gas (LNG) developer ousted co-founder Charif Souki as chairman.

U.S. LNG Developer Tellurian Ousts Co-Founder Souki as Chairman

Tellurian ousted its chairman and co-founder Charif Souki as an executive officer, the U.S. liquefied natural gas (LNG) developer said on Friday, weeks after auditors raised doubts about the company's ability to cover future expenses.

Sources: Endeavor Energy Explores Sale for as Much as $30 Billion

Endeavor Energy Partners is exploring a sale that could value the largest privately-held oil and gas producer in the Permian basin of the United States at between $25 billion and $30 billion, according to people familiar with the matter.

Woodside in Talks with Santos to Form $52 Billion Australian Gas Giant

Australia's Woodside Energy and Santos said they were in preliminary talks on Thursday to create a $52 billion global oil and gas giant as consolidation among international energy firms intensifies.

FTC Issues Second Information Request on Exxon's $60 Billion Takeover of Pioneer

The U.S. Federal Trade Commission has sent shale oil producer Pioneer Natural Resources and Exxon Mobil a second request for more information on their $60 billion takeover deal, Pioneer said on Tuesday.

Tenaris Completes Acquisition of Mattr’s Pipe Coating Business Unit for Over $182 Million

(P&GJ) — Tenaris has completed its acquisition of Mattr’s pipe coating business unit (Shawcor) for $182.6 million (including estimated working capital and $16.9 million in cash).

Business News December 2023

Association news, personnel changes and mergers and acquisitions in December 2023!

ROSEN Founder Sells Majority Stake to Partners Group

(P&GJ) — Hermann Rosen, founder of ROSEN Group, has sold a majority stake in ROSEN to the global private markets firm Partners Group, as part of his succession planning.

Origin Energy's Top Shareholder Opposes Brookfield's $9.8 Billion Takeover Offer

Origin Energy's largest shareholder said on Tuesday it plans to vote against a Brookfield-led consortium's $9.78 billion takeover offer for the company, casting doubt on the bid's future weeks ahead of a shareholder vote on the deal.

A Tale of Setbacks as Venezuela's Citgo Heads to U.S. Auction

For the past four years, the United States protected oil refiner Citgo Petroleum from creditors seeking to seize Venezuela's foreign crown jewel for billions of dollars in claims. But on Monday, a U.S. judge will kick off an auction expected to place the Houston-based company in the hands of rivals or investors.

Opinion: Chevron’s $53 Billion Deal Is a Risky Imitation of Exxon's Strategy

Chevron has decided, like Exxon Mobil, that it’s better to discover oil on the New York Stock Exchange than drilling in the ground. The $318 billion oil giant said Monday it would buy New York-based Hess for $53 billion in an all-stock deal.

Chevron to Buy Hess for $53 Billion in All-Stock Deal

Chevron agreed to buy U.S. rival Hess Corp. for $53 billion in stock in a deal that reflects top U.S. energy companies' drive for oil and gas assets in a world seeking lower-risk future fossil supplies and higher shareholder returns.

Business News October 2023

Association news, personnel changes and mergers and acquisitions in October 2023!

Kinder Morgan's Q3 Earnings Fall Short Due to Commodity Prices and Pipeline Expenses

Pipeline and terminal operator Kinder Morgan on Wednesday posted lower-than-expected profit for the third quarter as higher interest expenses offset strength in its natural gas and products pipeline segment.

TC Energy Names Ex-CEO as Chair of Oil Pipeline Business

Canadian pipeline operator TC Energy on Thursday named industry veteran and former CEO Hal Kvisle as the chair of its oil pipeline unit.

Chevron Australia, Unions Make Progress in LNG Talks, Deal Remains Elusive

Negotiations over a stalled pay and conditions deal between Chevron and unions at its LNG facilities in Australia made progress on Friday but fell short of sealing an agreement to end months of labor disputes at the major export sites.

Midstream Winners Honored at Gulf Energy Information Excellence Awards Gala

(P&GJ) — Pipeline & Gas Journal is excited to announce the winners of the midstream categories at the inaugural Gulf Energy Information Excellence Awards. Industry experts gathered at Houston's Post Oak Hotel for a grand gala, combining the recognition programs of World Oil, Hydrocarbon Processing, Pipeline & Gas Journal, and Petroleum Economist.

Join Us for the Gulf Energy Information Excellence Awards: Where Excellence Takes Center Stage

(P&GJ) — In just two days, the prestigious Gulf Energy Information Excellence Awards will take center stage, celebrating the finest achievements in the energy industry. This event combines the recognition programs of World Oil, Hydrocarbon Processing, Pipeline & Gas Journal, and Petroleum Economist into a single grand gala, is set to be a pinnacle celebration of excellence.

Sources: Exxon in Advanced Talks for $60 Billion Acquisition of Pioneer

Exxon Mobil is in advanced talks to acquire Pioneer Natural Resources in a deal that could value the Permian shale basin producer at about $60 billion, people familiar with the matter said on Thursday.

Business News September 2023

Association news, personnel changes and mergers and acquisitions in September 2023!

Saudi Aramco to Acquire Stake in EIG's MidOcean Energy for LNG Expansion

Saudi Arabia's oil group Aramco said on Thursday it had agreed to acquire a strategic minority stake in LNG company MidOcean Energy for $500 million, with an option to increase the size of the shareholding.

NextEra Energy to Sell Florida City Gas to Chesapeake Utilities for $923 Million

NextEra Energy said on Tuesday it plans to sell Florida City Gas (FCG) to Chesapeake Utilities for $923 million in cash. FCG’s natural gas infrastructure encompasses approximately 3,800 miles of distribution mains and 80 miles of transmission pipelines.

Repsol Challenges Venture Global LNG Over Failure to Supply Gas

Spain's Repsol SA has asked an international tribunal to require U.S. gas exporter Venture Global LNG to fulfill its contract for LNG or compensate it, Reuters reported. It is the fourth European customer to pursue an arbitration case against the U.S. developer.

Former CFO of Russian Natural Gas Firm Novatek Sentenced to 7 Years in US Prison

A former deputy chief of Russian natural gas producer Novatek was sentenced on Thursday to seven years and two months in a U.S. prison for a scheme to hide millions of dollars of income in undisclosed Swiss bank accounts and submitting a false filing.

Magellan Midstream Approves $18.8 Billion Sale to ONEOK, Creating Major U.S. Pipeline Player

Magellan Midstream Partners' unitholders on Thursday voted in favor of its sale to larger rival ONEOK Inc. for $18.8 billion, creating one of the largest U.S. energy pipeline companies.

Venture Global CEO Says Court Battles Are Not Slowing the Company's LNG Projects

Venture Global LNG's chief executive insisted recently that the company's development of U.S. LNG plants has not been slowed by international court battles over its failure to deliver cargoes to contract holders, including BP and Shell.