Europe, Middle East and Africa Oil and Gas Correspondent
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May 11, 2012

Qatar buys ‘major’ stake in oil giant Shell

LONDON, May 11 (Reuters) – Gas-rich Qatar is ploughing more
of its commodity wealth back into the sector with the purchase
of a major stake in Royal Dutch Shell while also
reportedly eyeing a chunk of Italian oil major ENI.

A Shell spokeswoman confirmed the purchase while declining
to detail its size but the Middle East Economic Survey (MEES)
reported earlier that Qatar’s sovereign wealth fund (QIA) was
looking at a 3-5 percent stake.

May 8, 2012

Insight: When the Exxon way stops working

London (Reuters) – When Exxon boss Rex Tillerson walked into a meeting with the President of Ghana on the sidelines of the United Nations General Assembly, he thought he was set to strike a deal with an important new oil producing nation.

Instead Tillerson – who had flown into town aboard an executive jet bigger than those used by many heads of state – was rebuffed by an irritated John Atta Mills, who had expected to be wooed rather than given a tough contract to rubber-stamp.

May 8, 2012

When the Exxon way stops working

London, May 8 (Reuters) – When Exxon boss Rex Tillerson
walked into a meeting with the President of Ghana on the
sidelines of the United Nations General Assembly, he thought he
was set to strike a deal with an important new oil producing
nation.

Instead Tillerson – who had flown into town aboard an
executive jet bigger than those used by many heads of state -
was rebuffed by an irritated John Atta Mills, who had expected
to be wooed rather than given a tough contract to rubber-stamp.

May 7, 2012

Analysis: Investor protest votes on pay here to stay

LONDON (Reuters) – Company directors will remain under pressure from shareholders over executive pay long after the market downturn ends and lawmakers stop the heckling that has helped prompt votes against remuneration policies at this year’s annual meetings.

Investors and directors say the days of shareholders rubber-stamping company resolutions at Annual General Meetings (AGMs) is over and directors will have to get used to investors being more vocal on many areas of company business.

May 7, 2012

Investor protest votes on pay here to stay

LONDON, May 4 (Reuters) – Company directors will remain
under pressure from shareholders over executive pay long after
the market downturn ends and lawmakers stop the heckling that
has helped prompt votes against remuneration policies at this
year’s annual meetings.

Investors and directors say the days of shareholders
rubber-stamping company resolutions at Annual General Meetings

May 3, 2012

BG wary on gas sales to Argentina after YPF seizure

LONDON, May 3 (Reuters) – UK-based BG Group said it
would review all Argentine bidders’ creditworthiness before
selling them gas, after the nationalisation of energy company
YPF raised the risks of doing business there.

Despite its huge oil and gas reserves, Argentina is reliant
on imported liquefied natural gas (LNG) to meet its energy
needs, but credit ratings agency Moody’s said the seizure of a
51 percent stake in YPF from Spain’s Repsol
announced last month made Argentina a more risky place to do
business.

May 3, 2012

BG to sell Comgas to Cosan for $1.8 bln

LONDON May 3 (Reuters) – British gas and oil producer BG
Group Plc said it had agreed to sell its Brazilian gas
distribution business Comgas to Cosan for $1.8
billion as it unveiled soaring first quarter profits on the back
of higher oil prices and production.

BG is selling its 60 percent stake in Comgas as part of a $5
billion disposal programme to channel resources from downstream
distribution and power generation assets into more lucrative
upstream oil and gas production projects.

May 1, 2012

BP profit falls as oil spill costs still weigh

LONDON (Reuters) – Oil producer BP Plc (BP.L: Quote, Profile, Research) reported a bigger-than-expected 13 percent drop in underlying quarterly profit, as production fell after the group was forced to sell fields to pay for the Gulf of Mexico disaster, offsetting an increase in crude prices.

BP said on Tuesday output would continue to decline in the second quarter as it unveiled plans to sell a number of mature fields in the Gulf.

May 1, 2012

BP profits fall, plans Gulf of Mexico sales

LONDON (Reuters) – Oil producer BP (BP.L: Quote, Profile, Research, Stock Buzz) reported a bigger-than-expected drop in profits on Tuesday, despite an increase in crude prices, as production fell after it was forced to sell fields to pay for the Gulf of Mexico oil spill.

London-based BP added it would continue its disposal program, putting some smaller fields in the Gulf of Mexico on the block. A spokesman said the group was not pulling back from the area but was seeking to focus on larger fields there.

Apr 30, 2012

Companies plan for two-speed Europe

LONDON (Reuters) – Companies are planning for a two speed Europe, devising strategies to take advantage of growth in the northern part of the continent while plotting more corporate austerity for the moribund south.

Dismal overall European sales were a recurring theme among big U.S. and European companies reporting first quarter results in the past fortnight.

    • About Tom

      "Tom leads our coverage of the oil and gas industry in Europe, the Middle East and Africa and is also author of 'Spills & Spin: The Inside Story of BP'. A former oil broker who turned to journalism 12 years ago, he is regularly interviewed on CNBC and other TV and radio stations on energy matters. Tom has reported from over twenty countries including Iran, Iraq, India, Pakistan, Tanzania, the U.S. and Russia. As Europe, Middle East and Africa Oil & Gas Correspondent, he has chartered the rise in oil prices to record levels, interviewed oil ministers and the CEOs of ..."
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