Nasdaq NEW YORK – Shell’s SHEL.L U.S. solar business Savion has put around a quarter of its assets up for sale, according to a marketing document and industry sources, as the oil major extends a retreat from owning renewables projects under CEO Wael Sawan. Investment bank Jefferies JEF.N is running the sale of up to 10.6 gigawatts (GW) of solar generation and storage
Yahoo Finance Occidental Petroleum is exploring a sale of Western Midstream Partners, a U.S. natural gas-focused pipeline operator that has a market value of close to $20 billion, including debt, according to people familiar with the matter. Western Midstream shares rose 10% to $32.12 in afternoon trading in New York on Tuesday. The divestment would help Occidental, which is backed
Nasdaq Southwest Gas Holdings Inc SWX.N said on Monday it would evaluate selling itself, among other alternatives, after an unnamed potential buyer showed interest in acquiring the utility at a price “well in excess” of Carl Icahn’s $82.50 per share offer. Southwest Gas, which did not give any clear details on the interested party’s offer, had rejected Icahn’s bid as “inadequate”
Reuters LONDON, Nov 30 (Reuters Breakingviews) – Sweden’s Lundin family may be getting itchy feet again. Oil and gas company Lundin Energy (LUNE.ST), in which the family holds a 33% stake, is considering a sale or merger, Bloomberg said on Monday. The company’s vague statement that it will consider opportunities dampened some of investors’ enthusiasm, erasing the 10% gain in the $10 billion
Reuters NEW YORK/HOUSTON – A cadre of oil companies, seeing continued profits in shale, are mulling Royal Dutch Shell’s holdings in the largest U.S. oil field as the European giant considers an exit from the Permian Basin, according to market experts. The potential sale of Shell’s Permian holdings, located in Texas, would be a litmus test of whether rivals are
Fox Business HOUSTON/MEXICO CITY – Royal Dutch Shell agreed on Monday to sell its controlling interest in a Texas refinery to partner Petroleos Mexicanos (Pemex) for about $596 million, the latest move by the European oil major to cut its global refining footprint. The deal makes the Deer Park, Texas, facility the first foreign refinery that Mexico’s state-run oil company
Reuters MOSCOW – Russia’s largest oil producing company Rosneft plans to sell some old underperforming oil fields, mostly to local companies, at least two Moscow-based brokerages said on Tuesday following a conference call with Rosneft’s management. Sova Capital brokerage said in a note to its clients that Rosneft plans to sell some of its brownfields in southern Russia along with
Reuters TORONTO/WINNIPEG, Manitoba – Cenovus Energy Inc CVE.TO plans to cut 20% to 25% of its workforce after it acquires Husky Energy Inc HSE.TO, the companies told Reuters on Tuesday, as Cenovus begins to slash costs in the Canadian oil patch’s biggest merger in four years. The job losses could total about 2,150 positions, based on the size of their workforces, including
Reuters PARIS – Oil and gas group Total TOTF.PA said on Tuesday its Societe Cray Valley business, the French offshoot of its resins operations, was not up for sale. Reuters reported earlier in October that Total was launching a sale of its resins business and had hired Credit Suisse to work on the process. Total declined to comment at that time.
Houston Chronicle The oil and gas and pipeline assets of the now-defunct Alta Mesa Resources were sold for $320 million to a partnership between an Oklahoma startup and a Houston private equity firm. Houston’s Bayou City Energy Management and Oklahoma’s Mach Resources are scooping up the remaining parts of Houston-based Alta Mesa and its pipeline subsidiary Kingfisher Midstream. The deal was
By Tyler Losier, Energy Reporter, Oil & Gas 360 Icahn Enterprises closes sale of Ferrous Resources to Vale S.A. for $550 million Icahn Enterprises L.P. (stock ticker: IEP), a conglomerate company owned by American investor Carl Icahn, has closed on its previously announced sale of Ferrous Resources Limited to Brazilian mining company Vale S.A. for a total consideration of $550
By Tyler Losier, Energy Reporter, Oil & Gas 360 Paramount Resources completes divestiture of its Karr 6-18 facility to CSV Midstream Solutions Paramount Resources Limited, a liquids-focused independent E&P based in Calgary, has completed the sale of its Karr 6-18 natural gas facility to CSV Midstream Solutions for a total of approximately $470 million. The consideration includes approximately $330 million
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