French oil major Total surprised the analysts’ community on Monday with the bold move to acquire Danish company Mærsk Oil, a subsidiary of A.P. Møller – Mærsk, for $7.45 billion in a share and debt transaction, Kallanish Energy reports.
Russian oil company Rosneft announced Monday the successful completion of a 49.13% stake acquisition in Indian refiner Essar Oil Limited (EOL) from an investment consortium including Trafigura and UCP.
The proposed $7.45 billion acquisition of Mærsk Oil by Total will not only benefit the French major’s portfolio in OECD countries, but strengthens its platform for growth in the Middle East and Africa, Wood Mackenzie said on Monday.
Denmark’s A.P. Moller – Maersk, a business conglomerate with activities in the transport, logistics and energy sectors mostly known as Maersk, started on Monday the separation of its four energy businesses with the divestment of Maersk Oil.
Brazilian state-controlled oil company Petrobras started on Monday a non-binding process to sell its assets in Paraguay, sending interested parties additional information on the potential disposals, it said in a security filing.
Spanish gas company Gas Natural Fenosa (GNF) has sold a 20% stake in its natural gas distribution business GNDB to a consortium of infrastructure investors for €1.5 billion ($ billion) in cash, Kallanish Energy learns.
French energy group ENGIE, through its subsidiary ENGIE Brasil Energia, is in final talks with Brazilian renewables developer Renova Energia for the acquisition of a 605-megawatts (MW) wind power project.
The UK’s Competition and Markets Authority (CMA) has voiced concerns regarding the £2.2 billion ($2.9 billion) proposal for engineering services company Wood Group to take over rival Amec Foster Wheeler.
French oil supermajor Total said Thursday it’s ready to take advantage of the low-cost oil price environment, if profitable projects and acquisitions cross its way thanks to its strong financial position.