Utilities

Oilfield

ValueAct buys 5.1 percent stake in Baker Hughes

Activist hedge fund ValueAct Capital disclosed a 5.1 percent stake in Baker Hughes Inc (BHI.N), the world's No. 3 oilfield services company that has agreed to be bought by bigger rival Halliburton Co (HAL.N) for $35 billion in cash and stock.

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Singapore.jpg

Singapore's Ezra puts on hold U.S. IPO plan for subsea unit

Ezra Holdings Ltd (EZRA.SI), a Singapore-listed oilfield service company, said on Wednesday it has put on hold a plan to list its subsea services unit in the United States, prompted by unfavourable market conditions.

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qatar exchange

Qatar Petroleum, Shell halt $6.4 billion petrochemical project

Qatar Petroleum and Shell RDSa.l said they had decided not to proceed with their $6.4 billion Al Karaana petrochemical project in the Gulf state, the region's second big energy project to be shelved since oil prices began to plunge late last year.

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E.ON SE

E.ON sells most of Italian business to Czech-based EPH

Germany's largest utility E.ON AG has agreed to sell its Italian gas- and coal-fired power plants to Czech energy company EPH, ridding itself of unwanted assets from an acquisition spree in 2007.

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Oasis Petroleum Inc

Oasis Petroleum 'happy' to have SPO as largest shareholder

North Dakota oil producer Oasis Petroleum welcomes having hedge fund SPO Partners & Co as its largest shareholder, Chief Executive Tommy Nusz said in an interview on Monday, commenting on a fund that has been a shareholder since Oasis went public in 2010.

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Oil

South Korea nuclear operator says cyberattacks continue, reactors safe

South Korea's nuclear power operator said on Sunday that cyberattacks on non-critical operations at the company's headquarters are continuing but the country's nuclear power plants are operating safely and are secure from attack.

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Mergers

Delaware court says C&J tie up with Nabors unit can proceed

A merger between oilfield services provider C&J Energy Services Inc (CJES.N) with a unit of Nabors Industries Ltd. (NBR.N) can proceed, Delaware's supreme court ruled on Friday.

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Royal Dutch Shell

Shell sells parts of Norwegian downstream business to Finland's ST1

Oil major Shell (RDSa.L) said on Thursday it had sold parts of its Norwegian downstream business to Finnish fuel firm ST1 for an undisclosed sum, further divesting parts of its downstream activities.

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Crude Oil

Citgo valued at more than $10 billion in revised bids

Citgo Petroleum Corp, Venezuela's U.S. oil refining unit, has received revised bids from at least four bidders, some which have valued the company at more than $10 billion, according to three people familiar with the matter.

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Hitachi Corp

ABB, Hitachi to set up joint venture in Japan

Swiss engineering group ABB (ABBN.VX) said on Tuesday it had agreed to set up a joint venture with Hitachi (6501.T) to market high-voltage direct current (HVDC) power transmission equipment in Japan.

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Technip CEO Thierry Pilenko

Technip rules out CGG bid after talks fail

Technip (TECF.PA) has ruled out making an offer for seismic surveys specialist CGG (GEPH.PA) after talks with the company failed to produce an agreement, the French oil services group said on Sunday.

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E.ON SE

Shanghai Electric Power says in contact with E.ON over Italy assets

China's Shanghai Electric Power (600021.SS) said on Wednesday it was in preliminary contact with top German utility E.ON (EONGn.DE) over the possible purchase of its Italian assets.

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London Stock Exchange

Oil hits four-year low as expectations fade for OPEC cuts

Fading hopes OPEC will cut production when it meets Thursday sent oil prices tumbling to a four-year low and the world stock-market rally paused for Thanksgiving in the United States.

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Macquarie Group

E.ON, Macquarie in exclusive talks over Spanish ops

Germany's top utility E.ON SE (EONGn.DE) has entered exclusive talks to sell its Spanish activities to Australian infrastructure investor Macquarie Group Ltd (MQG.AX), four sources familiar with the matter told Reuters on Wednesday.

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Halliburton

Halliburton to buy Baker Hughes for about $35 billion

Halliburton Co (HAL.N) will buy Baker Hughes Inc (BHI.N) for about $35 billion in cash and stock, creating an oilfield services behemoth to take on market leader Schlumberger NV (SLB.N) as falling oil prices threaten to erode demand.

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