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National Grid to Sell 61% Stake in UK Gas Distribution Business for $17.4 Billion
December 14, 2016
Australia’s Macquarie Group-led consortium has agreed to acquire 61 percent stake in National Grid’s UK gas distribution business (NGGD) for £13.8bn ($17.4bn), including debt. The sale is a part of UK-based utility’s effort to focus on higher-growth operations. The Consortium
Russia’s Rosneft to Acquire 30% Stake in Eni’s Zohr Field for $1.13 Billion, Offshore Egypt
December 14, 2016
Rosneft has agreed to acquire 30 percent stake in the Shourouk Concession, which comprise the supergiant gas field Zohr, offshore Egypt from Italian energy company Eni for $1.58bn. As part of the deal, Rosneft agreed to pay $1.13bn to Eni
N-Sea and University of Strathclyde Collaborate to Automate Subsea Pipeline Inspection
December 14, 2016
N-Sea, and the University of Strathclyde’s Institute of Sensors Signals and Communications at the Department of Electronic and Electrical Engineering, have secured substantial funding from the Data Lab Innovation Centre for an innovative research project to automate subsea pipeline inspection.
Asian Development Bank to Provide $1bn for Azerbaijan’s Shah Deniz II Gas Expansion Project
December 14, 2016
The Asian Development Bank (ADB) will provide $1bn financing to help Azerbaijan further develop the Shah Deniz project, which is one of the world’s largest gas-condensate fields. The funding includes a $500m private sector loan to the Southern Gas Corridor
UK’s Independent Oil and Gas Seeks Approval to Develop Blythe Gas Field, North Sea
December 14, 2016
Independent Oil and Gas is seeking approval from the UK Oil and Gas Authority (OGA) for the development of the Blythe field located in the Southern North Sea. Located close to existing infrastructure and other IOG-owned licenses, the IOG-owned Blythe
Vedanta to Invest $5.9 Billion to Boost Crude and Metals Business in India
December 12, 2016
UK-based Vedanta Resources is planning to invest $5.9bn to strengthen its oil production and metals businesses in India over the next three years. As part of this effort, Vedanta Resources subsidiary Cairn India is planning to produce an additional 1,00,000
Glencore to Acquire Stake in Russia’s Rosneft for $11 Billion
December 12, 2016
Russia has sold 19.5 percent stake in state-controlled oil giant Rosneft to a consortium of Glencore and Qatar Investment Authority sovereign-wealth fund for €10.2bn ($11bn). As part of the deal, Glencore and Qatar’s sovereign fund will equally own the 19.5
Statoil Begins Production Drilling at $7 Billion Mariner Field, UK North Sea
December 8, 2016
Statoil and its partners have commenced production drilling operations at the Mariner field in the UK North Sea. Located on the East Shetland Platform of the UK North Sea and approximately 150km east of the Shetland Isles, the Mariner field
Gunvor Raises $725 Million to Support Its Refining Operations, Amsterdam-Rotterdam-Antwerp Region
December 5, 2016
Gunvor and Gunvor Belgium, subsidiaries of Gunvor Group, have closed $725m borrowing facility, which will provide working capital for Gunvor’s refining activities in the Amsterdam-Rotterdam-Antwerp (ARA) region. The Facility was launched at US $700 million and was oversubscribed at US
Maersk and Dong Energy in Talks Over $10 Billion Oil and Gas Merger Deal
December 5, 2016
Denmark’s Maersk and Dong Energy are reportedly in talks to merge their oil and gas operations. The deal is expected to create a combined company worth more than $10bn including debt, Reuters reported citing sources familiar with the matter. A
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