Europe, Middle East and Africa Oil and Gas Correspondent
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Sep 9, 2011

Tullow strikes oil in French Guiana

LONDON (Reuters) – London-based explorer Tullow Oil (TLW.L: Quote, Profile, Research) said it had struck oil offshore French Guiana, raising the prospect of the opening of a new major offshore oil producing province in South America.

Tullow shares traded up 7.0 percent at 8:06 a.m.

The company, and others, have made big discoveries offshore Ghana, namely the multi-billion barrel Jubillee field, and an oil strike in Sierra Leone that suggests the finds extend all along the coast.

Sep 7, 2011

Ex-BP boss Hayward makes $4 bln bet on Genel Energy

LONDON, SEPT 7 (Reuters) – Former BP boss Tony
Hayward has returned to the oil business with an agreement to
acquire Turkish explorer Genel Energy to create a
Kurdistan-focused group worth $4 billion.

Vallares , an investment vehicle set up by Hayward,
financier Nat Rothschild and banker Julian Metherell, is
courting uncertainty over payment for Genel’s oil, and corporate
governance concerns with the deal.

Sep 6, 2011

Exclusive – Tony Hayward to seal return with $4 billion Iraq buy

LONDON (Reuters) – Tony Hayward, who stepped down as BP (BP.L: Quote, Profile, Research) boss in the wake of the Gulf of Mexico oil spill, will imminently seal his return to the oil industry, by buying into Turkey’s Genel Enerji, in a deal valuing the target at around $4 billion (2.5 billion pounds), a source close to the matter said Tuesday.

Vallares, an acquisition vehicle established by Hayward and financier Nat Rothschild, has agreed in principle to a tie-up with Genel Enerji, which owns oil fields in the semi-autonomous Kurdish region of Iraq, and is expected to announce a deal in the coming days, the source said.

Sep 6, 2011

Ex-BP boss to seal return with $4 bln Iraq buy

LONDON, Sept 6 (Reuters) – Tony Hayward, who stepped down as
BP boss in the wake of the Gulf of Mexico oil spill, will
imminently seal his return to the oil industry, by buying into
Turkey’s Genel Enerji, in a deal valuing the target at around $4
billion, a source close to the matter said on Tuesday.

Vallares, an acquisition vehicle established by Hayward and
financier Nat Rothschild, has agreed in principle to a tie-up
with Genel Enerji, which owns oil fields in the semi-autonomous
Kurdish region of Iraq, and is expected to announce a deal in
the coming days, the source said.

Aug 25, 2011

Vallares moves closer to Genel Enerji deal -source

LONDON/ISTANBUL, Aug 25 (Reuters) – Vallares
has moved closer to a multi-billion pound takeover of Turkish
oil explorer Genel Enerji, a source close to the situation said,
raising the prospect of a big pay day for former BP boss
Tony Hayward and financier Nat Rothschild.

The source said Vallares, the London-listed bid vehicle of
Hayward and Rothschild, is more favourable towards Iraq-focused
Genel Enerji than other assets it has looked at, such as
projects in Russia.

Aug 14, 2011

Shell says North Sea oil pipeline still leaking

LONDON (Reuters) – Royal Dutch Shell Plc said a ruptured North Sea pipeline continued to leak oil on Saturday and that it had been seeping crude into the sea for two days before the company declared it.

Shell said it was continuing to reduce pressure in the pipeline on Saturday, reducing the flow of oil.

Aug 13, 2011

Shell, authorities silent on North Sea oil leak

LONDON, Aug 13 (Reuters) – Royal Dutch Shell Plc was silent
on Saturday on the status of an oil leak of unspecified size in
the North Sea and authorities said they also had no information
on whether the leak had yet been stemmed, provoking
environmentalists ire.

The Anglo Dutch oil major said on Friday that it had
discovered the leak from a flow line at its Gannet Alpha
Platform and said then it was working to stem the flow.

Aug 4, 2011

Royal Dutch Shell in Nigeria

LONDON, Aug 4 (Reuters) – Royal Dutch Shell’s (RDSa.L: Quote, Profile, Research, Stock Buzz)
operations in Nigeria have come under the spotlight after the
company accepted villagers had a right to sue its Nigerian
venture in a British court over oil spills in the Niger Delta.

A United Nations report on Thursday has also estimated that
Ogoniland in the oil-rich Niger Delta could need the world’s
largest ever oil clean-up.

Jul 28, 2011

Exxon, Shell use soaring profits to buy output growth

LONDON, Jul 28 (Reuters) – Exxon Mobil , Royal Dutch
Shell Plc (RDSa.L: Quote, Profile, Research, Stock Buzz) and other big oil groups reported higher
profits on Thursday thanks to high crude prices and showed the
only way to combat falling output was by reinvesting the cash in
acquisitions and new ventures.

Investors have become increasingly worried in recent years
about Western oil companies’ inability to match natural field
decline with new finds, in part because they are shut out of
investing in the richest fields by countries such as Saudi
Arabia and Russia.

Jul 28, 2011

Shell, rivals tackle lower output as profits soar

LONDON, Jul 28 (Reuters) – Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research, Stock Buzz)
and other oil giants reported big profit increases on Thursday,
as high oil prices masked the impact of lower crude and gas
production.

Shell said second-quarter current cost of supply net income
rose 77 percent to $8.00 billion, helped by non-cash accounting
gains and asset sales.

    • 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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