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Mergers & Acquisitions News

 

Reuters: ExxonMobil, Chevron Explored Merger in 2020

Feb 01, 2021

The chief executives of ExxonMobil Corp and Chevron Corp held preliminary talks in early 2020 to explore combining the two largest U.S. oil producers in what would have been the biggest merger of all time, according to people familiar with the matter.The discussions, which are no longer active, are indicative of the pressure the energy sector’s most dominant companies faced as the COVID-19 pandemic took hold and crude prices plunged…

Rosneft Buys Huge Arctic Oilfield

Dec 28, 2020

Russia's Rosneft said on Monday it had bought the rights to a huge oilfield in the Taymyr peninsula in the Arctic, as it presses ahead with plans to use the Northern Sea Route to ship oil and products.In a regulatory disclosure, Rosneft said it had bought Taymyrneftegaz…

Remus Horizons Exploring Takeover of Australian Oil Firm Far

Dec 17, 2020

Oil and gas explorer Far Ltd said on Thursday it received a A$209.6 million ($159.15 mln) all-cash takeover proposal from private investment firm Remus Horizons PCC Ltd.The offer values Far at 2.1 Australian cents per share, representing a premium of 90…

Will 2021 Breathe Life Back into Asia Pacific Upstream M&A Market?

Dec 16, 2020

2020 has been dismal for upstream dealmakers across Asia Pacific. During a recent conversation with a senior banker in the region, I mentioned that deal activity was so poor this year that as of October, only a sliver over US$400 million and 117 million boe of 2P resources had transacted (vs US$5…

Husky, Cenovus Shareholders Approve $4.78 Billion Merger Deal

Dec 15, 2020

Cenovus Energy Inc's C$6.07 billion ($4.78 billion)deal to buy Husky Energy Inc was approved by the shareholders of the two companies on Tuesday, creating Canada's No. 3 oil and gas producer in a rapidly consolidating industry.Cenovus said 93%…

European Commission Approves Vestas, Mitsubishi Offshore Wind Deal

Nov 27, 2020

The European Commission has granted its approval for wind turbine maker Vestas to acquire Mitsubishi Heavy Industries' shares in their offshore wind joint venture MHI Vestas Offshore Wind.The agreement, which will also see MHI acquire 2.5 percent…

Woodmac: Quiet Year for Upstream M&A in Asia Pacific. Improvement Seen in 2021

Nov 20, 2020

The year 2020 is on course to be the quietest year for upstream transactions in the Asia Pacific region since the beginning of the 21st century, energy intelligence firm Wood Mackenzie said in a report this week, adding that the activity is expected to bounce back in 2021…

Vestas Buys Out Mitsubishi From Offshore Wind JV in Deal Valued EUR 709M

Oct 29, 2020

Wind turbine maker Vestas will acquire Mitshubishi Heavy Industries' shares in their joint venture MHI Vestas Offshore Wind joint venture, against MHI acquiring 2.5 percent in Vestas and being nominated to a seat in Vestas’ Board of Directors…

Chevron Bets on Middle East Gas Riches and Reconciliation

Oct 26, 2020

After years of focusing on U.S. shale, Chevron Corp is staking its natural gas future on the Middle East, a volatile and divided region where energy majors have long tread warily.CEO Michael Wirth's pivot away from home is underpinned by a bet…

Lloyd’s Register to Sell Energy Business

Oct 07, 2020

Maritime classification society and technical services provider Lloyd's Register Group (LR) has agreed to sell its Energy business unit to Inspirit Capital, a London-based investment firm.LR said that the agreement followed a review of LR’s business portfolio and strategic direction…

Chrysaor, Premier Oil Set to Merge

Oct 06, 2020

Two UK-based offshore oil and gas companies Premier Oil and Chrysaor are set to merge in an all-stock transaction. Premier Oil also said that its proposed acquisition of BP's North Sea assets will not take place.In a joint statement released Tuesday…

Konecranes and Cargotec to Merge

Oct 01, 2020

Finnish engineering firm Konecranes and cargo handling machinery maker Cargotec plan to merge to help speed up innovation and reap savings, they said on Thursday, sending both of their shares sharply higher.The boards of the companies, which…

Eni to Take Over Indonesian Deepwater Development?

Sep 30, 2020

Italy's Eni is expected to take over the Indonesian Deepwater Development (IDD) project as operator Chevron sells its interest in the gas venture, the chairman of the country's upstream oil and gas regulator said on Wednesday.Chevron confirmed…

Udenna Wants to Take Shell's Malampaya Stake

Sep 28, 2020

Philippine oil and shipping group Udenna Corp on Monday expressed interest in acquiring Royal Dutch Shell PLC's 45% stake in the Malampaya gas-to-power project, in partnership with state-owned Philippine National Oil Company (PNOC).Shell is…

Jadestone, OMV Take More Time to Wrap Maari Field Transaction

Sep 25, 2020

Oil and gas company Jadestone Energy and OMV have agreed to extend the long-stop date for the completion of Jadestone's acquisition of OMV's stake in the Maari project, in the shallow waters offshore New Zealand.Singapore-based Jadestone in…

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