Plains All American Pipeline plans to replace its Line 901 oil pipeline in California, the aging line that caused the 2015 oil spill of 2,934 barrels of crude on Refugio Beach and into the Pacific Ocean.
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.
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.