Mergers and Acquisitions

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Petronas Reportedly Exploring Sale of US$7 Billion Canadian Business

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The company may also consider selling a minority stake in the business, depending on valuation Bloomberg News Petroliam Nasional Bhd. is considering options for its Canadian company formerly known as Progress Energy Resources Corp., including a sale, according to people familiar with the matter. Petronas, as the Malaysian state energy firm is known, is working with a …

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Shell-BP Merger’s Key Ingredient is Time

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions, Natural Gas, Oil / By

(Reuters Breakingviews) – Wael Sawan must feel like it’s Groundhog Day. In recent weeks Shell’s  chief executive has been fielding one question over and over again: whether he’s considering merging his $198 billion group with struggling UK rival BP. Drill down into whether a swoop for the $77 billion oil major makes any sense, and Sawan’s lack …

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Exxon, Hess to Face Off Over Chevron Deal for Oilfield Riches

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions, Oil, US News / By

By Sheila Dang Arbitration tribunal under ICC to analyze dispute in confidential hearing in London Chevron acquisition of Hess hangs in the balance Resolution expected by end of third quarter, faster than typical ICC arbitration HOUSTON, May 23 (Reuters) – Top U.S. oil producer Exxon Mobil (XOM.N) and Hess (HES.N) will meet face-to-face on Monday …

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US Shale to Plateau if Oil Stays in Current Range, ConocoPhillips CEO Says

Conventional Energy, Energy Topics & Technology, Latest, LNG, Mergers and Acquisitions, Natural Gas, Oil, Shale, US News / By

U.S. shale oil output will flatten out if prices remain where they are now and will start to decline with prices in the $50s per barrel, the CEO of ConocoPhillips said on Tuesday in the latest prediction that oil’s slump could curb U.S. supply. The comments from Conoco CEO Ryan Lance come as forecasters including …

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Utility Vistra to Buy Natural Gas Assets for $1.9 Billion

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Natural Gas, US News / By

Utility Vistra said on Thursday it would acquire seven natural gas generation facilities, with a combined capacity of nearly 2,600 megawatt, from Lotus Infrastructure Partners for $1.9 billion, as it looks to meet growing power demand. The deal includes five combined cycle gas turbine facilities and two combustion turbine facilities located across PJM, New England, …

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Blackstone Is in Talks for New Mexico Utility Owner TXNM

Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

By David Carnevali, Ryan Gould, and Dinesh Nair Blackstone Inc. is in talks to acquire TXNM Energy Inc., the owner of New Mexico’s largest utility, according to people familiar with the matter. The private equity firm’s infrastructure arm, Blackstone Infrastructure Partners, has emerged as the likeliest buyer of TXNM after other suitors dropped out of …

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BP-Shell Megadeal Would Create European Rival to Exxon Mobil

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If Shell acquires BP, it would create a European oil major that could challenge industry leaders Exxon Mobil Corp. and Chevron Corp., with upstream oil and gas production of nearly 5 million barrels of oil equivalent a day. Summary by Bloomberg AI The deal would give Shell dominance in LNG sales, with combined sales jumping …

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KKR-Backed Crescent Energy Weighs Asset Sales to Focus on Eagle Ford, Uinta Basins

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, US News / By

Photographer: Anthony Prieto/Bloomberg Crescent Energy Co. is looking to sell its drilling portfolio in areas including the Denver-Julesburg Basin in Colorado to focus on its core acreage in the Eagle Ford and Uinta basins. Summary by Bloomberg AI The divestment could fetch more than $1 billion, but no final decision has been made and Crescent …

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Sunoco LP to Acquire Parkland Corporation in Transaction Valued at $9.1 Billion

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Mergers and Acquisitions, Oil, Press Releases, Refineries / By

DALLAS, May 5, 2025 /CNW/ — Sunoco LP (NYSE: SUN) (“Sunoco” or the “Partnership”) and Parkland Corporation (TSX: PKI) (“Parkland”) announced today that the parties have entered into a definitive agreement whereby Sunoco will acquire all outstanding shares of Parkland in a cash and equity transaction valued at approximately $9.1 billion, including assumed debt. As part of the …

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Weak Oil Prices, Limited Shale Acreage to Hit Energy M&A in 2025, Enverus Says

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, US News / By

(Reuters) – The U.S. upstream oil and gas M&A market is bracing for the most challenging conditions since the COVID-19 pandemic as oil prices slump and prime acreage dries up, analytics firm Enverus said on Wednesday, even though dealmaking jumped last quarter to the second-best start to the year since 2018. The expected downturn in …

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