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South Korea's POSCO Launches Takeover Bid for Australia's Senex Energy

Oct 18, 2021

Australian coal seam gas producer Senex Energy Ltd said it had received a $605 million takeover proposal from POSCO International Corp and was opening up its books to the South Korean trader with the aim of gaining a sweeter offer.The A$815 million or A$4.40 per share offer from POSCO International, the trading arm of steel giant POSCO, has already been twice-improved, Senex said.'The Senex Board believes…

Santos Completes Acquisition of Oil Search

Dec 17, 2021

Australian oil and gas company Santos has informed that the merger of Santos and Oil Search has been implemented.Santos has acquired 100 percent of the issued capital in Oil Search from Oil Search shareholders.  Oil Search shareholders have been issued 0…

Competition Regulator OKs Woodside's Merger with BHP's Oil & Gas Business

Dec 16, 2021

Australia's competition regulator approved Woodside Petroleum's agreed $28 billion merger with BHP Group's petroleum arm on Thursday, saying it would not reduce competition in the domestic gas market.The Australian Competition and Consumer Commission…

SRJ Technologies to Buy STATS Group

Dec 14, 2021

ASX-listed SRJ Technologies Group plc has struck a deal to buy the UK-based oilfield services firm STATS.STATS said Tuesday that its shareholders had executed a Share Purchase Agreement to sell 100% of the issued share capital of the company to SRJ Technologies…

Santos Takes Over Oil Search. Names CFO

Dec 13, 2021

Santos Ltd on Monday named a new chief financial officer in its first move since sealing its $6 billion takeover of Oil Search, who will play a key role in selling stakes in assets in Papua New Guinea and Alaska.Santos promoted Anthea McKinnell…

Oil Search Gets Shareholder Approval for $6.2B Buyout by Santos

Dec 07, 2021

Papua New Guinea-focussed Oil Search Ltd said on Tuesday its A$8.8 billion ($6.21 billion) buyout by Santos Ltd received overwhelming support from its shareholders, getting over 95% votes in favor of the deal.Shares of Oil Search rose as much as 3…

MMA Offshore Buys Stake in Taiwanese Survey Firm GAS to Target Offshore Wind Work

Nov 11, 2021

Australian offshore services firm MMA Offshore has acquired 49.9% of the shares in the Taiwanese survey company Global Aqua Survey Ltd to form a new joint venture, the MMA Global Aqua JV, which will target the quickly growing offshore wind sector in Taiwan…

Santos $6B Takeover of Oil Search Gets Tepid Backing from Independent Expert

Nov 11, 2021

Oil Search shareholders are set to vote on Dec. 7 on a merger with Santos Ltd after gaining approval from a Papua New Guinea court and a mixed endorsement from an independent expert.If it goes ahead, the A$8.8 billion ($6.5 billion) takeover…

GlobalData: Woodside's Acquisition of BHP's Oil Business 'Complicates' ESG Narrative

Oct 08, 2021

Woodside's recent acquisition of BHP's oil and gas business is making its ESG narrative complicated, energy intelligence firm GlobalData said, as BHP's assets it has acquired will boost Woodside's oil production and ultimately lead to a more carbon-intensive product base over the near term…

BHP Handing Smaller than Expected $3.9B Clean-up tab to Woodside in Oil Merger

Sep 14, 2021

BHP Group will transfer a smaller-than-expected $3.9 billion in oil and gas decommissioning liabilities to Woodside when it merges its petroleum business with the independent Australian gas producer.Woodside's shares jumped 6.5% after the figure was disclosed in BHP's annual report on Tuesday…

Santos, Oil Search Agree to Merge Despite PNG Scrutiny

Sep 10, 2021

Santos sealed an agreement to buy Oil Search to create a global top 20 oil and gas company, the companies said on Friday, even as the Papua New Guinea government raised concerns that a takeover could harm national interests.The deal will make…

TAQA Looking to Sell Oil & Gas Business

Sep 01, 2021

TAQA, a UAE-based oil company with assets in the UK North Sea, said Wednesday it had initiated a strategic review of its oil and gas operations,   including the possibility of selling some or all of them.'The review will assess strategic options…

Oil Search Says Merger with Santos Crucial to Growth Plans

Aug 24, 2021

Oil Search Ltd will need billions of dollars to fund its growth plans, and tying up with Santos Ltd to create a A$20 billion ($14 billion) company will give it the access to capital that it needs, its boss said on Tuesday.Oil Search agreed to…

BHP at Risk of Credit Rating Downgrade on Oil Business Sale

Aug 24, 2021

BHP Group is at risk of a two-notch downgrade that would provoke its lowest ever credit rating as the sale of its petroleum business raises the miner's dependence on its major business of iron ore, S&P Global said on Tuesday.BHP has agreed to…

Opinion: BHP's Petroleum Exit Shows Oil and Gas May Follow Coal's Path to Toxic Status

Aug 19, 2021

The market hasn't exactly cheered BHP Group's proposed exit from its oil and gas business, with shares of both the mining giant and the acquirer, Woodside Petroleum, tumbling in the wake of deal.A point of concern for investors is that BHP may have sold the assets too cheaply…

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