The deal, which is expected to close on Wednesday, will leave Berkshire with just under 10% interest in Phillips 66.
“Phillips 66 is a great company with a diversified downstream portfolio and a strong management team,” said Warren E. Buffett, chairman and CEO of Berkshire Hathaway. “This transaction was solely motivated by our desire to eliminate the regulatory requirements that come with ownership levels above 10%. We remain one of Phillips 66’s largest shareholders and plan to continue to hold the stock for the long term.”
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.