Bloomberg reported that Glencore Xstrata (LSE:GLEN) has purchased Caracal Energy Inc. (LSE:CRCL) for roughly $1.35 billion. Glencore hopes to gain oil and gas assets in central Africa, as Caracal is focused in Chad.
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Price differentials emerged last year as a major hurdle in oil and gas markets, but not every company is equally vulnerable to the swings and dips of different crude grades. In this interview with The Energy Report, Chad Ellison, oil and gas analyst at Dundee Capital Markets, explains how producers are protecting themselves against price downside—or increasing upside exposure. Find out which names are dancing with differentials.
As global oil demand and prices continue to rise, an increasing number of exploration and production companies are choosing to focus their efforts on West Africa. Boasting some of the world’s highest-potential oil and gas reserves, this region is becoming increasingly attractive to investors.
Boasting a similar geological structure to that of the Woodford and Eagle Ford shales in the US, Turkey’s Dadas Shale has the size and potential to ignite the country’s energy sector.
Simba Energy Inc. (TSXV:SMB,OTCQX:SMBZF) announced that it signed a Protocole d’Accord with the Republic of Chad and as a result now holds 100 percent interests in the production sharing contracts of three oil and gas concessions.
Reuters reported that Royal Dutch Shell Plc (NYSE:RDS.B) has planned to put Orion steam-driven project on the block.
With natural gas currently trading at a ten-year low, more and more companies are shifting their corporate strategies to liquid oil.
China Metallurgical News declared that China National Petroleum Corporation has signed Chad pipeline transportation agreement with Shanghai based Baosteel days ago. For full story, click here
Nigerian National Petroleum Corporation has started oil exploration in Lake Chad basin, a project it abandoned some years back. For full story, click here For company’s website, click here