Europe, Middle East and Africa Oil and Gas Correspondent
Tom's Feed
Mar 6, 2012

BG eyes sale of Queensland LNG stake -sources

SYDNEY/LONDON, March 6 (Reuters) – UK gas producer BG
Group is mulling the sale of a stake in its multi-billion
dollar Queensland natural gas liquefaction facilities, sources
close to the matter said, potentially paving the way for a
restructuring of the region’s LNG business.

BG could sell between 15 and 20 percent of the Queensland
Curtis LNG project (QCLNG) and, based on past transactions,
could raise up to $2 billion from the sale, one source said.

Mar 6, 2012

Bankers hire BP oil spill PR man to boost image

LONDON (Reuters) – Europe’s bankers have hired the man responsible for leading oil giant BP’s public relations campaign during the Gulf of Mexico oil spill as head of the lobby group striving to restore their battered reputation in Europe.

Andrew Gowers has been appointed director of external relations at pan-European lobby group the Association for Financial Markets in Europe (AFME), whose membership includes most of the big U.S. and European banks operating across the continent.

Mar 5, 2012

BP shares lag mkt bets after oil spill deal

LONDON (Reuters) – Shares in BP rose less than some analysts expected on Monday after the oil giant reached a settlement with businesses and individuals affected by the Gulf of Mexico oil spill worth an estimated $7.8 billion.

Investors said the settlement was broadly in line with expectations and reduced legal uncertainty but outstanding legal risks still held back the stock.

Mar 5, 2012

BP seen boosted by oil spill settlement

LONDON (Reuters) – Shares in BP are expected to rise 5-9 percent on Monday after the oil giant reached a settlement with businesses and individuals impacted by the Gulf of Mexico oil spill worth an estimated $7.8 billion.

Some analysts said the expected payout was less than they had forecast, reduced legal uncertainty and suggested the final settlement with BP’s biggest opponent – the U.S. government – would be much lower than the worst case scenario.

Mar 3, 2012

BP’s $7.8 billion deal may speed payments for U.S. spill

NEW YORK/LONDON (Reuters) – The estimated $7.8 billion deal struck by BP Plc with businesses and individuals suing over the massive 2010 Gulf of Mexico oil spill could speed up payments to thousands of claimants and offers lawyers a potential windfall in legal fees.

London-based BP announced the deal on Friday with the Plaintiffs’ Steering Committee (PSC), which represents condominium owners, fishermen, hoteliers, restaurateurs and others who say their livelihoods were damaged by the April 20, 2010 explosion of the Deepwater Horizon drilling rig and subsequent oil spill.

Mar 2, 2012

Exclusive: Credit Suisse banker sought Romney donations

March 2, LONDON (Reuters) – A Credit Suisse executive set off an email chain seeking donations from subordinates for Republican presidential candidate Mitt Romney that ended up in the hands of non-U.S. citizens, prompting concerns that it could violate laws barring foreign contributions, according to bank sources.

The email seeking support for a Romney fundraising breakfast later made its way from New York to the bank’s London office, where recipients — including some who were not U.S. citizens — were upset by the solicitation, the sources said.

Mar 2, 2012

Credit Suisse banker sought Romney donations

March 2, LONDON (Reuters) – A Credit Suisse executive
set off an email chain seeking donations from subordinates for
Republican presidential candidate Mitt Romney that ended up in
the hands of non-U.S. citizens, prompting concerns that it could
violate laws barring foreign contributions, according to bank
sources.

The email seeking support for a Romney fundraising breakfast
later made its way from New York to the bank’s London office,
where recipients — including some who were not U.S. citizens –
were upset by the solicitation, the sources said.

Feb 26, 2012

BP oil spill trial delayed for settlement talks

LONDON/NEW ORLEANS, Feb 26 (Reuters) – BP Plc
has delayed by one week the start of a massive trial to decide
who should pay for the 2010 Gulf of Mexico oil spill, to allow
more time to cut a deal with tens of thousands of businesses and
individuals affected by the disaster.

In a statement on Sunday, BP said the start date
for the trial in New Orleans federal court has been pushed back
to March 5 from Feb. 27.

Feb 26, 2012

BP oil spill trial adjourned for a week

LONDON (Reuters) – Oil major BP has delayed the start of hearings in litigation related to its Gulf of Mexico oil spill for a week to allow more time to cut a deal with individuals and businesses affected by the disaster.

The Deepwater Horizon Multi-District Litigation (MDL) trial, which was due to start on Monday, will now begin on March 5, BP said in a statement on Sunday.

Feb 24, 2012

Thai PTT trumps Shell with $2bln bid for Cove

LONDON, FEB 24 – LONDON, Feb 24 (Reuters) – Thai
state-controlled oil and gas group PTT has trumped Shell’s
bid for Mozambique-focused Cove Energy Plc
with a 220 pence-a-share bid worth 1.12 billion pounds ($1.76
billion).

News of the offer sent Cove shares 23 percent higher to
240.25 pence by 1530 GMT as investors bet on a bid war.

    • 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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