Italy’s Eni executed a sale and purchase agreement to sell a 12% stake in Saipem to Fondo Strategico Italiano, as part of a plan designed to collect €6.5 billion.
A Chinese holding company signed a letter of intent to purchase oil and gas assets in the Permian basin of West Texas for $1.3 billion through a limited liability partnership.
In our view, Rosneft alone can offer European partners to participate in the projects for the amount of about $100 bln., the Head of Rosneft said. «The scale of Rosneft investment program assumes one of the world's largest anchor orders for engineering industry and chemical industry products, in the first place – about 4.6 bln. euro annually, pointed out Igor Sechin. – Аnd Rosneft aggregate demand for materials in 2016-2018 will amount to € 15.9 bln.».
The foreign investment arm of India's top oil explorer ONGC is targeting $10-$12 billion of oil and gas asset purchases over the next three years, including more corporate acquisitions, its managing director said.
Norwegian petroleum and other liquids production, which had been declining since 2001, increased in 2014 and will likely continue increasing in 2015. The production growth in 2014 was mainly the result of new fields coming online, but also included a small increase in output from existing fields. Production has continued to grow in the first half of 2015 and is expected to remain relatively stable over the next few years as growth from new fields balances declines from older fields.
Britain has told Russian oligarch Mikhail Fridman he was still welcome to invest in the country even after he was forced to divest gas assets there under pressure from the previous government.
Petroleo Brasileiro SA (Petrobras) reported further cuts to its capital budget, reducing planned spending for 2015 by $3 billion to $25 billion and by $8 billion to $19 billion for 2016. The company cited low crude oil prices and unfavorable exchange rates.
China’s $40 billion Silk Road Fund said it would finance part of the project, a development Total CEO Patrick Pouyanné called “a clear commitment by China” in an interview Wednesday. The price paid for Silk Road’s 9.9% stake in Yamal wasn’t disclosed.
India is ready to invest more than $15.2 billion to build projects in Iran including taking up full-scale development of Chabahar Port if Tehran offers better terms including cheaper gas, Shipping Minister Nitin Gadkari said on Wednesday.
Plunging oil prices have rendered more than a trillion dollars of future spending on energy projects uneconomic, according to a study that suggests that the impact on industry operators is worsening.