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North Sea oil and gas fields bought by private groups Tailwind, a private oil producer backed by commodity trader Mercuria, has agreed to buy BP’s stake in the Shearwater oilfield in the British North Sea, it said on Monday. The British North Sea has been undergoing a changing of the guard with oil majors selling oil and gas fields to private equity-owned groups. The new owners say they can squeeze out more and cheaper barrels from North Sea fields than big companies, making faster decisions and specialising in North Sea extraction. Here is a list of recent deals: Deals in 2016 ....
United KingdomFactbox: UK North Sea oil and gas fields bought by private groups Reuters 1 minute read Tailwind, a private oil producer backed by commodity trader Mercuria, has agreed to buy BP s stake in the Shearwater oilfield in the British North Sea, it said on Monday. read more The British North Sea has been undergoing a changing of the guard with oil majors selling oil and gas fields to private equity-owned groups. The new owners say they can squeeze out more and cheaper barrels from North Sea fields than big companies, making faster decisions and specialising in North Sea extraction. Here is a list of recent deals: ....
2 Min Read FILE PHOTO: JX Nippon Oil & Energy Corp s logo is seen at its refinery in Yokohama, Japan February 7, 2017. REUTERS/Kim Kyung-Hoon/File Photo LONDON (Reuters) - Japan’s JX Nippon wants to sell its British North Sea oil and gas assets including stakes in some of the basin’s biggest fields in a deal that could fetch up to $1.5 billion, five banking sources said. The sale is the latest deal in the North Sea marking the handover of assets from oil majors to private companies, which say they can better exploit remaining reserves than huge companies focusing on the energy transition. ....
EnergyMercuria-backed Tailwind buys BP stake in Shearwater UK oilfield Reuters 1 minute read The logo of BP is seen at a petrol station in Kloten, Switzerland October 3, 2017. REUTERS/Arnd Wiegmann/File Photo Tailwind, a private oil producer backed by commodity trader Mercuria, has agreed to buy BP s (BP.L) 27.5% stake in the Shearwater oilfield in the British North Sea, it said on Monday. BP had previously agreed to sell the stake in Shearwater, as well as the stake in the BP-operated Andrews field, to Premier Oil, but the deal fell through when Chrysaor bought Premier Oil to form Harbour Energy (HBR.L) last year. ....
Oil prices extend gains as bullish demand outlook outweighs India concerns Published 2 hours ago By Florence Tan SINGAPORE (Reuters) -Oil prices extended gains on Thursday after rising 1% the previous session, as bullish forecasts on recovering demand this summer outweighed concerns about the impact of rising COVID-19 cases in India, Japan and Brazil. Brent crude for June rose 22 cents, or 0.3%, to $67.49 a barrel by 0405 GMT while U.S. West Texas Intermediate crude for June was at $64.04 a barrel, up 18 cents, or 0.3%. Oil cartel OPEC, together with Russia and their allies, a group known as OPEC+, stuck to their plans for a gradual easing of oil production restrictions from May to July, after OPEC raised slightly its demand growth for 2021 to 6 million barrels per day. The group also expects global stocks to reach 2.95 billion barrels in July, taking them below the 2015-2019 average. ....