Europe, Middle East and Africa Oil and Gas Correspondent
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Sep 23, 2011

Doubts raised about giant UK shale gas find

LONDON, Sept 23 (Reuters) – Experts have cast doubt on
claims of a giant shale gas find in northwest England, leaving
opponents to accuse the company behind it of painting an
excessively rosy picture to win political support for the
controversial project.

Cuadrilla Resources is owned by Australian drilling company
AJ Lucas and private equity firm Riverstone, and has former BP
Chief Executive John Browne on its board, said on Wednesday it
had found 200 trillion cubic feet of gas in place at its
licences in Lancashire.

Sep 16, 2011

BP oil spill report may prompt over $30 bln pay-out

LONDON (Reuters) – Findings of the second major investigation by the U.S. government into the 2010 Gulf of Mexico oil spill, may press BP into putting over $30 billion on the table to quickly settle its outstanding legal headaches.

The joint Coast Guard and Bureau of Ocean Energy Management, Regulation and Enforcement probe into the Macondo well blow-out which led to the death of 11 men and the biggest offshore oil spill in U.S. history, put most of the blame on BP

Sep 16, 2011

Analysis – BP spill report may prompt over $30 billion pay-out

LONDON (Reuters) – Findings of the second major investigation by the U.S. government into the 2010 Gulf of Mexico oil spill, may press BP into putting over $30 billion (19 billion pounds) on the table to quickly settle its outstanding legal headaches.

The joint Coast Guard and Bureau of Ocean Energy Management, Regulation and Enforcement probe into the Macondo well blow-out which led to the death of 11 men and the biggest offshore oil spill in U.S. history, put most of the blame on BP.

Sep 16, 2011

Analysis: BP oil spill report may prompt $30 billion pay-out

LONDON (Reuters) – Findings of the second major investigation by the government into the 2010 Gulf of Mexico oil spill, may press BP into putting over $30 billion on the table to quickly settle its outstanding legal headaches.

The joint Coast Guard and Bureau of Ocean Energy Management, Regulation and Enforcement probe into the Macondo well blow-out which led to the death of 11 men and the biggest offshore oil spill in U.S. history, put most of the blame on BP.

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.

    • 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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