Edition:
United Kingdom

Oil & Gas Refining and Marketing

Page 1

Repsol Starts Production From Reggane Project In Algeria‍​

10:39am GMT

Dec 18 (Reuters) - Repsol SA ::STARTS PRODUCTION FROM REGGANE PROJECT IN ALGERIA‍​.SAYS REGGANE NORD GAS FIELDS ARE EXPECTED TO PRODUCE AT FULL CAPACITY OF 8 MILLION CUBIC METERS OF GAS PER DAY FROM JANUARY 2018.OPERATING CONSORTIUM IS MADE UP OF REPSOL (29.25%) AND SONATRACH (40%) AS JOINT OPERATORS, PARTNERED BY DEA DEUTSCHE ERDOEL AG (19.5%) AND EDISON (11.25%).

Founding family ups stake in Idemitsu to over 28 pct

7:22am GMT

TOKYO, Dec 18 (Reuters) - :Founding family of Idemitsu Kosan <<<5019.T>>> has increased stake in Idemitsu to above 28 percent by buying shares, lawyer representing family says.Founding family remains firmly opposed to the integration of Idemitsu and fellow refiner Showa Shell Sekiyu <<<5002.T>>>, Yohei Tsuruma says in statement.Idemitsu said in August that the new share sale had diluted the founding family's stake in Idemitsu to about 26 percent, from more than a third previously, eliminating its ability to veto the proposed integration with Showa Shell nL4N1L02Z7.

REG-Marathon Petroleum And MPLX LP to Exchange MPC's General Partner Economic Interest

Friday, 15 Dec 2017

Dec 15 (Reuters) - Marathon Petroleum Corp ::REG-MARATHON PETROLEUM CORP. AND MPLX LP ANNOUNCE AGREEMENT TO EXCHANGE MPC'S GENERAL PARTNER ECONOMIC INTERESTS, INCLUDING IDRS, FOR MPLX COMMON UNITS.MARATHON PETROLEUM - TO EXCHANGE GP ECONOMIC INTERESTS IN MPLX FOR 275 MILLION NEWLY ISSUED MPLX UNITS VALUED AT ABOUT $10.1 BILLION.MARATHON PETROLEUM - EXCHANGE IS EXPECTED TO BE ACCRETIVE TO DISTRIBUTABLE CASH FLOW ATTRIBUTABLE TO COMMON UNITHOLDERS IN Q3 AND FOR FULL YEAR 2018.MARATHON PETROLEUM - UPON DEAL CLOSING, CO TO CONTINUE TO CONTROL MPLX THROUGH OWNERSHIP OF NON-ECONOMIC GP INTEREST IN MPLX.MARATHON PETROLEUM - UPON CLOSING, MPC TO CONTINUE TO CONTROL MPLX VIA OWNERSHIP OF NON-ECONOMIC GP INTEREST IN MPLX.MARATHON PETROLEUM - UPON CLOSING, MPC TO OWN APPROXIMATELY 64 PERCENT OF OUTSTANDING MPLX COMMON UNITS.MARATHON PETROLEUM​-TO WAIVE PORTION OF Q4 LP DISTRIBUTIONS ON NEW UNITS OVER WHAT WOULD HAVE BEEN DISTRIBUTABLE TO CO FOR GP INTERESTS ABSENT THE DEAL.

Straits Inter Logistics To Place Of Up To 10 Pct Stake Of Co ‍​

Friday, 15 Dec 2017

Dec 15 (Reuters) - Straits Inter Logistics Bhd ::TO PLACE OF UP TO 10 PERCENT STAKE OF CO TO INVESTORS AT 0.25 RGT PER SHARE‍​.PLACEMENT EXPECTED TO RAISE GROSS PROCEEDS OF UP TO ABOUT 13.80 MILLION RGT ​.

BP To Invest $200 Mln In Lightsource Over 3 Years For 43 Pct Stake

Friday, 15 Dec 2017

Dec 15 (Reuters) - BP Plc ::BP TO INVEST $200M IN LIGHTSOURCE OVER THREE YEARS FOR A 43% STAKE IN THE BUSINESS‍​.LIGHTSOURCE TO REBRAND AS LIGHTSOURCE BP‍​.‍WILL PAY LIGHTSOURCE $50MILLION ON COMPLETION OF AGREEMENT, WITH BALANCE PAID IN INSTALMENTS OVER THREE YEARS​.LIGHTSOURCE WERE ADVISED BY ROTHSCHILD, WHITE AND CASE, DELOITTE AND BAKER & MCKENZIE.

Elliott seeks to remove John Hess as CEO Of Hess Corp - CNBC, citing Dow Jones ‍​

Thursday, 14 Dec 2017

Dec 14 (Reuters) - :ELLIOTT SEEKS TO REMOVE JOHN HESS AS CEO OF HESS CORP. OR GET HIM TO CONSIDER SALE; ALSO SEEKS DIVIDEND CUT, MORE BUYBACKS - CNBC, CITING DOW JONES ‍​.

American Midstream Announces $100 Mln Offering Of Senior Notes

Thursday, 14 Dec 2017

Dec 14 (Reuters) - American Midstream Partners Lp ::AMERICAN MIDSTREAM ANNOUNCES $100 MILLION OFFERING OF SENIOR NOTES.AMERICAN MIDSTREAM PARTNERS LP - TO OFFER FOR SALE $100 MILLION IN AGGREGATE PRINCIPAL AMOUNT OF 8.500% SENIOR NOTES DUE 2021.AMERICAN MIDSTREAM PARTNERS - EXPECTS TO USE PROCEEDS FROM OFFERING TO REDUCE BORROWINGS UNDER REVOLVING CREDIT FACILITY.

Cenovus' 2018 Budget Continues Focus On Deleveraging

Thursday, 14 Dec 2017

Dec 14 (Reuters) - Cenovus Energy Inc ::CENOVUS' 2018 BUDGET CONTINUES FOCUS ON DELEVERAGING.CENOVUS ENERGY INC - PLANS TO INVEST BETWEEN $1.5 BILLION AND $1.7 BILLION IN 2018.CENOVUS ENERGY INC - IS ALSO PLANNING ADDITIONAL WORKFORCE REDUCTIONS OF APPROXIMATELY 15%.CENOVUS ENERGY INC - IN 2018, COMPANY EXPECTS TO REDUCE ITS PER-BARREL OIL SANDS OPERATING COSTS BY 8% COMPARED WITH ITS 2017 FORECAST.CENOVUS ENERGY INC - IN 2018, COMPANY EXPECTS TO REDUCE ITS PER-BARREL OIL SANDS SUSTAINING CAPITAL COSTS BY 12% COMPARED WITH ITS 2017 FORECAST.CENOVUS - CONTINUES TO ADVANCE PLAN TO REDUCE NUMBER OF BUILDINGS OCCUPIED BY CALGARY STAFF.CENOVUS - REMAINS FOCUSED ON REDUCING REAL ESTATE COSTS THROUGH SUBLEASING PROGRAM & NOT RENEWING EXISTING LEASES AS THEY EXPIRE.CENOVUS ENERGY INC - CONTINUES TO TARGET A LONG-TERM DEBT RATIO OF LESS THAN TWO TIMES NET DEBT TO ADJUSTED EBITDA.CENOVUS ENERGY INC - 2018 CAPITAL BUDGET INCLUDES SUSTAINING CAPITAL OF APPROXIMATELY $780 MILLION, OR $5.50 PER BARREL OF INSTALLED CAPACITY.CENOVUS ENERGY SAYS IS FORECASTING AVERAGE OIL SANDS PRODUCTION OF 373,000 BBLS/D IN 2018, A 26% INCREASE COMPARED WITH ITS FORECAST 2017 PRODUCTION.CENOVUS SEES 2018 TOTAL PRODUCTION 483 - 510 MBOE/D.CENOVUS ENERGY INC SEES 2017 TOTAL PRODUCTION 459 - 492 MBOE/D.CENOVUS - EXPECTS TO HAVE COMPLETED SALE OF LEGACY CONVENTIONAL OIL AND NATURAL GAS ASSETS PRIOR TO 2017-END.CENOVUS ENERGY INC - IVOR RUSTE, COMPANY'S CHIEF FINANCIAL OFFICER, WILL RETIRE ON APRIL 30, 2018.

Gulf Oil Lubricants India Commences Commercial Production For Manufacturing Of Lubricants Oil In Chennai

Thursday, 14 Dec 2017

Dec 14 (Reuters) - Gulf Oil Lubricants India Ltd ::COMMERCIAL PRODUCTION FOR MANUFACTURING OF LUBRICANTS OIL COMMENCES IN PLANT AT CHENNAI.

BP says Consulting With Lawyers After Australian Watchdog Blocks Woolworths Deal

Wednesday, 13 Dec 2017

Dec 14 (Reuters) - BP Plc ::ACKNOWLEDGES ANNOUNCEMENT BY AUSTRALIAN COMPETITION AND CONSUMER COMMISSION THAT IT INTENDS TO OPPOSE PROPOSED ACQUISITION OF WOOLWORTHS’ RETAIL FUEL BUSINESS."REMAIN CONFIDENT,WITH APPROPRIATE DIVESTMENTS AS OFFERED BY BP,WOOLWORTHS' RETAIL FUEL BUSINESS DEAL WOULD NOT SUBSTANTIALLY LESSEN COMPETITION‍​".CURRENTLY CONSULTING WITH LAWYERS TO DETERMINE NEXT STEPS AFTER ACCC INTENDS TO OPPOSE PROPOSED ACQUISITION OF WOOLWORTHS' RETAIL FUEL BUSINESS.

Markets

  • Sectors
  • Europe
  • U.S.
  • Asia

Sector Summary