Oil and gas industry news : OMV, an Austrian oil and gas company has struck a deal of $578 million to buy the upstream business of Royal Dutch Shell in New Zealand. As part of the deal, OMV will acquire Shell’s stake of 48% in the Pohokura gas field and an 83.75% stake in the […]
Oil and gas industry news : Maersk Oil and its partners as part of the Danish Underground Consortium (DUC) are all set to invest around DKK 21 billion ($3.4 billion) for the Tyra redevelopment project in the Danish North Sea. The full redevelopment of the Tyra gas field would result in continued production from what […]
Energy industry news : Oil and gas giant Royal Dutch Shell has entered into an agreement to divest its stake of 13.28% in Woodside Petroleum, an Australian petroleum exploration and production company for $2.7 billion. Shell had earlier revealed that it had entered into an underwriting deal with a couple of investment banks to divest […]