China’s Silk Road Fund acquires 49% stake in ACWA Power’s renewables unit
China’s Silk Road Fund buys into Egypt renewable energy scene through acquisition of large Acwa Power stake: China’s state-owned Silk Road Fund has acquired a 49% stake in Saudi utility developer Acwa Power’s renewable energy unit, Arabian Business reports. No details of the investment have been released. The renewable energy platform, Acwa Power RenewCo, will own Acwa Power’s solar power and […]
Energean submits final offer for Edison’s Oil & Gas assets
Greece’s Energean Bids for EDF Oil & Gas Assets. EDF has been seeking a sale to focus on nuclear projects. Some other potential suitors have dropped out of bidding. Energean Oil & Gas Plc, the Greek energy producer that sold shares in London last year, is bidding for the oil and gas business of Electricite […]
Total considers expanding exploration in West Mediterranean, Red Sea
French energy giant Total is considering bidding for new oil and gas exploration concessions in Egypt’s Mediterranean and Red Sea territories, chairman and CEO Patrick Pouyanne told Oil Minister Tarek El Molla in a meeting yesterday, Al Shorouk reports. The company is also looking at increasing investments in expanding fuel stations and fuel transportation. (Source: Enterprise.press)
Dragon Oil CEO Ali Al Jarwan comments on GUPCO acquisition from BP in Egypt
In an interview with Oil & Gas Middle East, Dragon Oil CEO Ali Al Jarwan revealed the company’s progress on its $13bn expansion plans. Dragon Oil, the exploration and production arm of Emirates National Oil Company (ENOC), is in the process of finalising an acquisition in Egypt which will add 70,000 barrels per day of […]
Egypt mulls offers from Zarou, Edra to take over Siemens Power Plants
Egypt is considering offers from a Blackstone Group unit and Edra Power Holdings Sdn Bhd of Malaysia to take over three power plants co-built by Siemens AG — a move that could cut the North African nation’s debts while bringing in much-needed foreign investment. Both Blackstone’s Zarou Ltd. and Edra have voiced interest in the […]
BP nears sale of its stake in GUPCO to Dragon Oil for over $600 million
BP is nearing the sale of its stake in a major Egyptian oil and gas company to Dubai-based Dragon Oil for over $600 million, industry and banking sources said. The sale, which is expected to complete in the coming weeks, would mark the end of BP’s 50-year-old partnership in the Gulf of Suez Petroleum Company […]
Wintershall Dea: A New European Oil and Gas Champion
Wintershall and DEA Deutsche Erdoel AG join forces to become Europe’s leading independent gas and oil company. Global portfolio with strong growth prospects. Initial public offering (IPO) envisaged for 2nd half of 2020. Wintershall Holding GmbH (Wintershall) and DEA Deutsche Erdoel AG (DEA) have completed their merger. Wintershall Dea is now the leading independent gas […]
ENOC’s Dragon Oil to acquire BP’s mature assets in Egypt?
Emirates National Oil Company (ENOC) subsidiary Dragon Oil is set to acquire unspecified assets in Egypt within the next three to four months, Dragon Oil CEO Ali Al Jarwan told Oil & Gas Middle East. According to Al Jarwan, the asset should add 70k bpd to the company’s production. While Al Jarawan did not disclose […]
Dragon Oil to finalise acquisition in Egypt in next 3 to 4 months
In an exclusive interview with Oil & Gas Middle East, Dragon Oil CEO Ali Al Jarwan revealed the company’s progress on its $13bn expansion plans. Dragon Oil, the exploration and production arm of Emirates National Oil Company (ENOC), will finalise an acquisition in Egypt in the next three to four months, CEO Ali Al Jarwan […]
United Energy Group completes acquisition of Kuwait Energy
Shalakany assists United Energy Group on their successful acquisition of Kuwait Energy PLC. Shalakany are pleased to announce that they acted for Hong Kong listed energy corporation United Energy Group Limited (“UEG”) as Egyptian legal counsel in their acquisition of the entire share capital of Kuwait Energy PLC (“KE”) for over USD 650 million, which […]
