"I warmly welcome Schlumberger as our majority shareholder. It builds on our strategic alliance with Schlumberger since 2011 and our mutually beneficial business relationship since 2007. The combination of the technology knowhow and operational expertise of Schlumberger coupled to the financial strength of the Investment Funds, brings significant benefits to our customers and the Russian conventional land drilling market."
Royal Dutch Shell plc ("Shell") today announces the signing of binding definitive agreements between SOPC Holdings East LLC (a U.S. downstream subsidiary of Shell) and Saudi Refining Inc. ("SRI") (a wholly owned subsidiary of Saudi Arabian Oil Company (“Saudi Aramco”)) on the separation of assets, liabilities and businesses of Motiva Enterprises LLC (“Motiva”), a 50/50 refining and marketing joint venture.
With India's oil demand showing no signs of slowing, which in turn is attracting a lot of multinational firms to set up shop in the country, the government is stepping up efforts to ensure that state-run oil companies are on equal footing to compete, not just with domestic private players but also with global oil firms.
Rosneft Board of Directors has approved a strategic cooperation agreement with Qatar Investment Authority and Glencore, providing for further cooperation in upstream projects, logistics and global trading.
Shell’s net debt has more than doubled to $75bn since its £35bn takeover of BG Group was completed in February.
The deal was strongly appreciated by the investment community for the expansion of the Combined Company to the new crude oil and petroleum product production and supply areas, Rosneft adding 10% of liquid hydrocarbon production and 20% of refining throughput as well as for significant synergies arising from optimization of mutual oil supplies, transport and logistics costs, drilling cost reduction and joint use of production assets’ infrastructure, modern technologies and know-how.
Enbridge Inc. and Spectra Energy Corp. have entered into a definitive merger agreement under which the two companies will combine in a stock-for-stock merger transaction. The combination will create the largest energy infrastructure company in North America and one of the largest globally, the companies said, based on a pro-forma enterprise value of roughly $127 billion.
Oil companies BP (BP.L) and Det norske (DETNOR.OL) have agreed to merge their Norwegian businesses in a $1.3 billion all-share deal to cut costs, challenge Statoil's (STL.OL) dominance of the local industry and look for more acquisitions.
Halliburton Company (NYSE:HAL) and Baker Hughes Incorporated (NYSE:BHI) today announced that the companies intend to vigorously contest the U.S. Department of Justice's (DOJ) effort to block their pending merger. The companies believe that the DOJ has reached the wrong conclusion in its assessment of the transaction and that its action is counterproductive, especially in the context of the challenges the U.S. and global energy industry are currently experiencing.
The transaction combines two complementary technology portfolios into a pore-to-pipeline products and services offering to the global oil and gas industry. The merger will create technology-driven growth by integrating Schlumberger reservoir and well technology with Cameron wellhead and surface equipment, flow control and processing technology. This will result in the industry’s first complete drilling and production systems, which are enabled by Schlumberger expertise in instrumentation, data processing, control software, and system integration.