Chevron is ready to acquire Noble Energy for $ 5 billion
10:43 26.08.2020 1370
Major US oil company Chevron Corp reaches agreement to acquire rival Noble Energy Inc. for $5 billion, according to Reuters.
It is noted that the planned acquisition could be the largest deal in the oil industry since the start of the coronavirus pandemic.
After the closing of the deal, Noble Energy shareholders will own about 3% of the combined company.
The deal will allow Chevron to increase the company's proven oil and gas reserves by about 18%. Noble has 2.05 billion barrels of proven oil and gas reserves, while Chevron has 11.1 billion barrels.
The purchase will boost Chevron's investment in shale production in the United States and give the company the largest gas field, Leviathan, in the eastern Mediterranean.
As Reuters notes, the fall in oil prices has reduced the value of many energy companies' shares, making them attractive to those who have survived the recession and have the means to buy.
Chevron ended the first quarter with $8.5 billion in cash after canceling its $33 billion purchase of Anadarko in 2019 and became one of the first major oil companies to cut spending during the downturn.
Azerbaijan and Indonesia intend to cooperate in the field of energy
A Memorandum of Understanding on Energy Cooperation between the Ministry of Energy of Azerbaijan and Indonesia is ready for signing. This was noted at the meeting of the head of the Ministry of Energy of Azerbaijan, Parviz Shahbazov, via video link with the former Ambassador of Indonesia, Husnan Bey Fanani, the press service of the Ministry of Energy of Azerbaijan reported.
Kazakh senator proposes to create a marine rescue service to clean up the Caspian Sea from oil spills
In the ports of the Mangystau region of Kazakhstan, it is necessary to create a marine rescue service to clean the Caspian Sea from oil spills, deputy of the Senate Suindik Aldashev believes, INTERFAX-KAZAKHSTAN reports.
Oil prices rise ahead of OPEC+ meeting, Brent rose to $65.58 per barrel
Oil prices are rising on Monday, the market is awaiting new decisions by the OPEC+ countries this week regarding production levels from April 2021, Interfax reports.
Открытие Турцией газового месторождения в Черном море будет иметь далеко идущие последствия для будущего импорта
Открытие Турцией газового месторождения в Черном море (Tuna-1) будет иметь далеко идущие последствия для будущего импорта, сообщает Trend со ссылкой на консалтинговую компанию Wood Mackenzie.
ОПЕК в сентябре проведет видеоконференцию по информационным технологиям в энергетике
Секретариат Организации стран - экспортеров нефти запланировал провести следующую видеоконференцию по вопросам энергетики и информационных технологий 21 сентября, говорится в сообщении ОПЕК.