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Friday, March 11, 2016 |
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BP battles Exxon Mobil over Ghana oilfield
Oil giant BP
Danny Fortson, Sunday Times,
UK
November 29, 2009
A battle between Exxon Mobil, the American oil giant, and BP
over one of the largest oilfields in the world is set to
intensify this month ahead of a key January deadline.
Exxon agreed in early October to pay $4 billion (£2.4 billion)
for a quarter stake in the Jubilee field off the coast of Ghana.
The sale agreement, struck with Kosmos Energy, the US firm, was
done despite requests from the Ghanaian government to slow down
the process. When it was presented to the Ghanaians for
approval, they refused and invited rival offers. The government
has hired Freshfields, the law firm, to advise it on its legal
options.
Ghana has no oil industry. The field, estimated to hold 1.8
billion barrels, has the potential to vastly alter the fortunes
of a nation with a per capita GDP of $1,500. BP, which is being
advised by Goldman Sachs, offered to buy the stake with Sinopec,
the Chinese state oil group, and Ghana National Petroleum as
partners. BP and Exxon declined to comment......
...More
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Ghana Seizes Nigerian Oil Vessel
Nigeria, November 28, ThisDay - A Nigerian oil
vessel, christened “African Prince”, has been jointly
seized by the Ghanaian Air Force and Navy in Tema. A
39-year old Nigerian, the chief cook of the vessel, was
found dead on board..... More |
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Liberia ordered to pay 'vulture funds'
over 1978 debt
UK, Nov 28, BBC - A British court has ordered Liberia
to pay two Caribbean-registered investment funds more than
$20m (£12m) for a debt that dates back to 1978.........More
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Who's to blame for Climategate?
UK, Nov 28, Telegraph, UK - The publication of
damning emails about climate change could literally
change the world. Gordon Rayner reports.....More |
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BP battles Exxon Mobil over Ghana
oilfield Oil giant BP
November 29, 2009, Sunday Times, UK
- A battle between Exxon Mobil, the American oil giant,
and BP over one of the largest oilfields in the world is
set to intensify this month ahead of a key January
deadline. .
More |
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