Europe, Middle East and Africa Oil and Gas Correspondent
Tom's Feed
Jan 13, 2012

Cairn in talks on possible Greenland stake sale

LONDON, Jan 13 (Reuters) – UK oil explorer Cairn
Energy is talks about the possible sale of a stake in
its Greenland exploration interests, according to an analyst
note.

Cairn’s exploration boss Mike Watts told an industry
conference organised by investment bank Macquarie on Monday
about the talks, according to a research note published by the
bank on Thursday.

Jan 12, 2012

Royal Dutch Shell weakens on talk guiding lower – traders

LONDON (Reuters) – Shares in Royal Dutch Shell (RDSa.L: Quote, Profile, Research) fell on Thursday, with traders citing market talk that the oil giant was telling analysts their forecasts for its fourth-quarter earnings were too optimistic.

Shell’s London-traded “A” shares were down 2 percent at 2,280 pence at 12:10 p.m., underperforming a 0.3 percent drop in the STOXX Europe 600 oil and gas sector index .

Jan 3, 2012

BP challenges Halliburton court request on spill

LONDON/NEW YORK, Jan 3 (Reuters) – BP has
opened 2012 with a new legal move in its battle to force
contractor Halliburton to help pay the costs and
expenses it incurred to clean up the 2010 Gulf of Mexico oil
spill, which the oil major previously put at around $42 billion.

Halliburton, the company that cemented the doomed
well, had asked a court to force BP to recognise a contractual
agreement that protected Halliburton against possible spill
clean-up costs.

Dec 19, 2011

Gulf Keystone not talking to Exxon on $11 billion sale

LONDON (Reuters) – Explorer Gulf Keystone Petroleum (GKP.L: Quote, Profile, Research) said it was not in talks with U.S. oil major Exxon Mobil Corp (XOM.N: Quote, Profile, Research) about a 7 billion pounds sale, scotching a newspaper report that sent the Kurdistan-focused group’s shares 24 percent higher.

The Independent on Sunday newspaper reported Exxon was considering making an estimated 800 pence per share bid — five times Gulf Keystone’s closing share price on Friday.

Dec 19, 2011

No Exxon bid for Gulf Keystone seen, shares soar

LONDON (Reuters) – Explorer Gulf Keystone Petroleum (GKP.L: Quote, Profile, Research, Stock Buzz) is not in talks with U.S. oil major Exxon Mobil Corp (XOM.N: Quote, Profile, Research, Stock Buzz) about a 7 billion pounds ($10.9 billion) bid, a source familiar with the Kurdistan-focused group’s thinking said on Monday.

The Independent on Sunday newspaper reported that Exxon was considering making an estimated 800 pence per share bid – five times Gulf Keystone’s closing share price on Friday.

Dec 19, 2011

Gulf Keystone shares soar on Exxon bid report

LONDON, Dec 19 (Reuters) – Shares in Kurdistan-focused
oil explorer Gulf Keystone Petroleum soared on Monday
following a report that U.S. oil major Exxon Mobil Corp
was mulling a takeover bid at five times the company’s closing
share price on Friday.

The Independent on Sunday newspaper reported that Exxon is
considering making an estimated 800 pence per share bid for
Britain’s Gulf Keystone, which has made huge oil finds in the
semi-autonomous Kurdistan region of Iraq. The reported bid
values Gulf Keystone at around 7 billion pounds ($10.9 billion).

Dec 19, 2011

Gulf Keystone shares soar on takeover report

LONDON, Dec 19 (Reuters) – Shares in Kurdistan-focused
oil explorer Gulf Keystone Petroleum soared on Monday
following a report that U.S. oil major Exxon Mobil Corp
was mulling a takeover bid at five times the company’s closing
share price on Friday.

The Independent on Sunday newspaper reported that Exxon is
considering making an estimated 800 pence per share bid for
Britain’s Gulf Keystone, which has made huge oil finds in the
semi-autonomous Kurdistan region of Iraq. The reported bid
values Gulf Keystone at around 7 billion pounds ($10.9 billion).

Dec 12, 2011

Sinochem, Gulfsands shut down Syria oil ops

LONDON, Dec 12 (Reuters) – Chinese state-controlled
Sinochem and UK-listed explorer Gulfsands Petroleum
have shut down their oil operations in Syria following
European Union sanctions related to the crackdown on the
uprising against the rule of President Bashar al-Assad,
Gulfsands said.

Although China has resisted sanctions on Syria, Sinochem is
bound by EU sanctions since it bought its interest in the Syrian
fields by taking over UK-listed Emerald Energy, through which it
still owns the assets, a Gulfsands spokesman said on Monday.

Dec 9, 2011

China refines overseas oil grab strategy

LONDON, Dec 9 (Reuters) – Chinese oil companies are
changing their approach to investing in oil and gas projects
overseas, placing more emphasis on community development and
less on Beijing’s political goals.

Over the past decade, China’s state-controlled energy giants
have been the most prolific buyers of oil and gas companies and
fields internationally, spurred by a government policy to secure
resources to fuel the country’s economic boom.

Dec 9, 2011

Exclusive: Kazakhstan near $1 billion deal to join gas group

ALMATY/DOHA (Reuters) – Kazakhstan is poised next week to acquire 10 percent of Karachaganak, ending a long dispute with the foreign owners of a field that contributes half of the country’s gas and ensuring the state now owns part of every big energy project on its soil.

Two sources close to the negotiations told Reuters on Friday that Kazakhstan would pay $1 billion in cash and drop legal claims against the operators of the gas and oil field in order to earn its stake in a consortium led by BG Group (BG.L: Quote, Profile, Research, Stock Buzz) and Eni (ENI.MI: Quote, Profile, Research, Stock Buzz).

    • 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 ..."
    • Follow Tom