Rosneft deal uncertain amid CEFC overhaul
Multinational Rosneft’s Vankor field
Chairman Ye Jianming was caught up in a financial crimes investigation last month and the Chinese government is expected to oversee the transfer of ownership to a state company, Platts reported.
“CEFC has peeled off its non-energy assets and is under restructuring. The restructuring plan and the new owner are expected to be approved by Beijing in about a month,” an anonymous source told the agency.
According to a separate Reuters report, China’s CITIC group is being groomed to take over CEFC. The company is reportedly conducting due diligence on CEFC’s purchase last year of a 4% stake in several Abu Dhabi onshore fields for USD 900 million.
Recent Posts
UK allows oil exploration in North Sea wind project zones
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 closes acquisition of Pioneer, creating Permian powerhouse
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 enters Namibia’s Orange Basin
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
Chariot starts gas drilling campaign in Morocco
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 acquires Trinidad E&P player Trinity
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil “optimistic and pushing forward” with Mozambique’s Rovuma LNG
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More