Petronas

Foreign Investors, NOCs Involved in World’s Largest Recent Oil & Gas Deals

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National oil companies have popped up in a significant number of mergers and acquisitions in the oil patch in recent years, and have led in joint venture partnerships.Flush with cash and in search of resources, Chinese companies have consistently remained in the headlines, but the biggest deal last year involved Russia’s Rosneft.

“In 2012, National Oil Companies (NOCs) were involved as buyers in the two largest deals in the oil and gas industry. Both deals came in the fourth quarter and helped push the total value of all oil and gas deals in 2012 to more than $402 billion, a 19% increase on the total a year earlier,” Dale Nijoka, Ernst & Young Global Oil & Gas Leader wrote in “National Oil Company Monitor Q4 2012,” a corporate publication. The largest deal was Rosneft’s $61 billion cash and shares acquisition of TNK-BP and the second biggest deal was China National Offshore Oil Company’s $15.1 billion Nexen takeover. Keep reading →

Published April 9, 2013 at 8:30 AM

Canada’s Petronas Acquisition Decision Will Impact North American LNG Exports

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With global LNG demand projected to exceed supply by a wide margin, the prospects for North American exports of liquefied natural gas are exceptionally strong. But an unexpected development has raised a question about Canadian participation in this emerging export opportunity.

The question is: Will the Canadian government decide to block any of the pending acquisitions of its E&P players by foreign energy majors? Keep reading →

Published November 30, 2012 at 1:45 PM

Cuba Sanctions Would Prevent Oil Spill Response

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US oil companies would be hobbled in their response to an oil spill from wells off the cost of Cuba, a Senate committee heard this week.

If there’s an oil spill from wells being drilled off the Cuban coast, US companies have sophisticated response equipment just 100 miles away – but couldn’t use it due to long-standing sanctions against Cuba. Keep reading →

Published October 19, 2011 at 6:00 AM