Husky Energy has announced a proposal to acquire all of the outstanding shares of MEG Energy Corporation for implied total equity consideration of approx.C$3.3 billion (US$5 billion). This proposal values MEG at an implied total enterprise value of C$6.4 billion, including the assumption of…
The US Bureau of Safety and Environmental Enforcement released updated offshore oil and gas production safety and environmental regulations which it says reduce unnecessary regulatory burdens while ensuring that operations remain safe and environmentally responsible. The new rule becomes effective 60 days after its…
The technology group Wärtsilä has released a new solution, GridSolv, the company’s first standardised energy storage solution. GridSolv is an advanced energy storage solution which is designed to offer maximum flexibility and speed of deployment. This innovative and standardised architecture supports both stand-alone energy…
Qatar will generate US$40 billion in additional export revenue once it competes its natural gas expansion project in 2024. Rising income from sales of liquefied natural gas will leave the government with a budget surplus of about US$44 billion in 2024, with the bulk…
Austria’s OMV has said production has started from the Umm Lulu and SARB (Satah Al Razboot) fields offshore the UAE. The oil firm said the production level shows an initial capacity of 50,000 barrels per day (10,000 barrels per day net to OMV), which…
Vattenfall, the owner of the Dutch electricity company Nuon, has signed a delivery contract for the expansion of the “Wieringermeer” wind farm with the Nordex Group at the Global Wind Summit in Hamburg. The expansion comprises 32 N117/3600 turbines. Last year Vattenfall had ordered…
Total will acquire the entire share capital of Chevron Denmark, pending regulatory and partner approvals. The associated assets comprise a 12% interest in the Danish Underground Consortium (DUC), 12% of North Sea licence 8/06, and 7.5% of the Tyra West pipeline. The transaction remains…
The Oil and Gas Authority (OGA) has given BP its blessing to develop the Vorlich field in the central North Sea. The £200 million project will target 30 million barrels of oil equivalent (boe) and is expected to produce 20,000 boe per day at…
London Market launches delegated authority platform The London Market Group (LMG) is launching its delegated authority platform this week as a core part of the London Market Target Operating Model (TOM). DA SATS provides a central service to standardise the collection, validation, processing, and…
Rolls-Royce has launched a V-line version of the new B33:45 liquid fuel and B36:45 gas engine series. This completes the new engine family, following the launch of the first variants three years ago. “This is an important milestone for us. The new V-Engine series…
