Reports emerged from Offshore Energy Today last week of a potential merger between UK’s Subsea 7 and Italy’s Saipem, saying that a combination of the two could rank as one of the European oil services industry’s biggest-ever deals. Norway’s Rystad said the deal would create the fourth-largest oilfield service company. Bloomberg said last Thursday that […]
Saipem Is Considering A Merger Deal With Subsea 7 Read More »
The Seven Energy Group, a Nigerian oil and gas exploration, development, production and distribution company, has just completed the sale of its assets in an acquisition, by a British firm, Savannah Petroleum Plc. According to Punch, the Chief Executive Officer, Savanah Petroleum, Andrew Knoot expressed his joy about the completion of the acquisition. He said,
Savannah Petroleum Concludes Acquisition of Seven Energy Group Assets Read More »
The Federal Government has rallied African Countries Oil producers in a move geared towards ensuring that the continent benefits maximally from hydrocarbon deposits locked in its shelves. The strategic move by Nigeria was spearheaded by the Honourable Minister of State for Petroleum Resources, Chief Timipre Sylva, who, in a one fell swoop, peregrinated three nations
Nigeria began preliminary talks with international oil companies to settle a dispute over revenue, as reported by Bloomberg. The government, citing a 2018 Supreme Court ruling, says it’s entitled to $62 billion from the companies after they failed to comply with a 1993 law that hands the state a greater share of income when oil
Nigeria Seeks $62bn From Oil Companies Over Revenue Read More »
