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Posts from ‘March, 2009’

DEALTALK-BP, Shell eye Santos; China bid unlikely

HONG KONG/PERTH, March 24 (Reuters) – Global energy giants BP and Shell are eyeing possible bids for Australia’s No.3 oil and gas firm Santos, which one analyst valued at around $7 billion…

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Groups ‘risk repeating recession errors’

Jorma Ollila, chairman of Nokia and Royal Dutch Shell, said: “Let’s not cut human capital so it hurts us when we get out of this in two or three years. What I see and what I hear is a clear conscientiousness on this issue. But there is a danger that this recession could distract people from the reality.”

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Suncor to buy Canadian rival for C$19.6bn

Suncor Energy of Canada is to buy rival Petro-Canada for C$19.6bn (£11bn) in an agreed all-share deal that will create North America’s fifth biggest oil and gas producer and accelerate consolidation in the Alberta oil sands.

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BG wins control of Australia’s Pure in gas push

The bid for Pure initially pitted BG against its larger rival, Royal Dutch Shell, which already has a joint venture with Arrow developing coal bed methane in Australia and elsewhere. However, Shell undermined Arrow’s chances of winning Pure when it said last month that, in the absence of a higher offer, it would sell its own 11 per cent stake to BG.

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BG Group Has Majority Control of Pure Energy

Rival bidder Arrow Energy, which is Royal Dutch Shell’s Australian joint-venture partner, holds about 20% of Pure and hasn’t said whether it will sell its stake into BG’s bid.

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BG takes majority control of Pure Energy

Rival bidder Arrow Energy, which is Royal Dutch Shell’s Australian joint venture partner, holds about 20pc of Pure and hasn’t said whether it will sell its stake into BG’s bid.

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Shell official confirms thirsty nature of oil shale, denies push to ‘corner water market’

A Shell Oil official confirmed Friday that the “in-situ” oil shale production the company is researching at its Mahogany facility near Rangely currently consumes about three barrels of water for every barrel of oil produced.

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Suncor and Petro-Canada build their oil sand castle

The merger and acquisition market in the oil and gas industry has been like a ballroom at the start of the evening. Everyone knows there will be a lot of pairing-up going on, but everyone is nervous about making the first move.

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Suncor to Buy Oil Rival

Recent speculation has focused on giant companies such as Exxon Mobil Corp., Chevron Corp. and Royal Dutch Shell PLC, which have large cash reserves and have been struggling to find new places to drill.

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BG Group wins control of Pure Energy

The bid for Pure initially pitted BG against its larger rival Royal Dutch Shell, which is a joint venture partner of Arrow in developing coal bed methane in Australia and around the world. However, Shell undermined Arrow’s chances of winning Pure when it said last month that it would sell its 11 per cent stake to BG, in the absence of a higher offer.

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