Enoc fires warning shot at Dragon refuseniks - FT.com:
"Dubai’s national oil group has increased the pressure on minority investors in Dragon Oil to accept its offer to buy the UK-listed Turkmenistan-focused producer, saying the company no longer needed to pay a dividend.
The Emirates National Oil Company (Enoc) is locked in a war of words with minorities led by asset manager Baillie Gifford who believe its offer for Dragon Oil, in which it is the largest shareholder with a 54 per cent stake, is too cheap.
Last month, Dragon Oil accepted a cash bid from Enoc at 750p per share, 47 per cent above the undisturbed price, and valuing the company at £3.7bn."
'via Blog this'
Friday, 17 July 2015
Iran: The oil and gas multibillion-dollar ‘candy store’ - FT.com
Iran: The oil and gas multibillion-dollar ‘candy store’ - FT.com:
"They did not advertise their presence. But in the days and weeks before Tuesday’s nuclear deal between the west and Iran, a steady trickle of visitors from some of the world’s largest energy groups have flown into Tehran.
By some accounts, they have done more than exchange business cards. As one senior western executive puts it, few of the industry’s big players can ignore the “candy store” that is Iran — now preparing to throw open a multibillion-dollar shop window of oil and gas projects.
An array of US and EU oil-related sanctions, in place since 2012, has prevented detailed negotiations. But once these are lifted, serious talks about a return to the country will get under way, with the European majors first."
'via Blog this'
"They did not advertise their presence. But in the days and weeks before Tuesday’s nuclear deal between the west and Iran, a steady trickle of visitors from some of the world’s largest energy groups have flown into Tehran.
By some accounts, they have done more than exchange business cards. As one senior western executive puts it, few of the industry’s big players can ignore the “candy store” that is Iran — now preparing to throw open a multibillion-dollar shop window of oil and gas projects.
An array of US and EU oil-related sanctions, in place since 2012, has prevented detailed negotiations. But once these are lifted, serious talks about a return to the country will get under way, with the European majors first."
'via Blog this'
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