The national oil companies of Russia, China and India are all running the slide rule over a 5 billion euro stake that has been put up for auction in Repsol, the Spanish oil giant. European majors also known to be taking a look include Royal Dutch Shell, Total of France and Italys Eni.
Spain
Russia, China and India consider stake in Spanish oil
Repsol stirs Spanish passions for new energy game
Like Shell, Repsol was forced a couple of years ago to restate and write down its oil reserves by as much as a quarter.
Global Demand Squeezing Natural Gas Supply
CAMERON PARISH, La. The cost of a gallon of gas gets all the headlines, but the natural gas that will heat many American homes next winter is going up in price as fast or faster.
Shell, Repsol aim to leave Iran gas project
MADRID (Reuters) - Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research) and Spain's Repsol (REP.MC: Quote, Profile,Research) are negotiating with the Iranian government to pull out of a $10 billion natural gas project due in part to U.S. pressure, Spanish newspaper Expansion reported on Saturday.
EU Commission approves Repsol’s acquisition of Shell Portugal assets
EUBusiness.com: EU Commission approves Repsol’s acquisition of Shell Portugal assets
14 September 2004
The European Commission said Tuesday it had approved the acquisition by Spain’s Repsol YSF of most of the Portuguese products and businesses belonging to Anglo-Dutch oil giant Shell.
The executive arm of the European Union determined that the transaction would not raise competition concerns since other large and capable players compete in the market.
It said the new entity would face competition from Portugal’s Galp, BP PLC, Cepsa, Exxon Mobil Corporation and a number of independent companies.
Portugal’s Galp Eyes Spain Expansion Despite Shell Blow
THE WALL STREET JOURNAL: Portugal’s Galp Eyes Spain Expansion Despite Shell Blow
“Earlier Wednesday, Shell said it had sold its 338 gasoline stations and other assets in Spain to Disa Corporacion Petrolifera…”
DOW JONES NEWSWIRES
Posted 9 Sept 04
LISBON — Portuguese energy giant GalpEnergia SA (GAP.YY) will continue to seek out expansion opportunities in Spain after losing a bid to purchase Royal Dutch/Shell’s (RD) retailing units there.
“GalpEnergia maintains its ambition of growing in Iberia, with the aim of achieving 8% market share in Spain,” the company said in a statement late Wednesday. GalpEnergia said it would continue to focus on organic growth and remain alert to further acquisition opportunities.
Royal Dutch/Shell sells 338 petrol stations in Spain, other Spanish ops
AFX Europe (Focus): Royal Dutch/Shell sells 338 petrol stations in Spain, other Spanish ops
Sep 08, 2004
AMSTERDAM (AFX) – Royal Dutch/Shell said it reached an agreement with Spanish oil company Disa Corporacion Petrolifera SA concerning the acquisition by Disa of 338 Shell petrol stations in Spain, as well as 5 pct of Shell’s Spanish gas trading business and distribution operations throughout the country.
No financial details were disclosed, but press reports have previously put a valuation of 500 mln eur on the assets being sold by the Shell group.
Shell, which will retain its Spanish LPG, lubricant, aircraft and maritime businesses, expects to complete the transaction by the end of the year.
Galp finalises purchase of Shell’s Spanish petrol station network
El Pais – Spain: Galp finalises purchase of Shell’s Spanish petrol station network
Sep 03, 2004
Portuguese petrochemicals group Galp is now just one step away from acquiring no less than 264 or Anglo-Dutch counterpart Royal Dutch Shell’s 388 petrol stations in Spain.
Only two issues remain to be finalised: the UK firm’s 5 per cent stake in Spanish fuel distributor Compania Logistica de Hidrocarburos (CLH), and Shell’s 74 petrol stations on the Canary Islands.
After yesterday’s meeting between representatives of Shell and Galp, sources within the sector said that the Galp offer was the best that had been put on the table. The sale would be worth between 320m and 500m euros, depending on the assets involved.