Mozambique’s national oil company plans to increase its stake in fields operated by Anadarko Petroleum Corp. and Eni SpA as the country seeks a greater share of profit from the largest natural-gas discovery in a decade.
Reverend Steven Jamison recalls the February day 13 years ago when he was digging ditches to replace culverts at his Maranatha Faith Center in Columbus, Mississippi. As he switched from a shovel to an excavator, an oily black substance began to fill the trench. It smelled like turpentine, and the deeper he dug, the more he saw, Bloomberg Markets magazine reports in its June issue.
Anadarko Petroleum Corp., the second- largest U.S. independent oil and natural-gas producer by market value, solicited bids for some of its assets, including coalbed- methane properties in Wyoming and certain midstream holdings.
Occidental Petroleum Corp.’s proposal to split its U.S. and foreign businesses is pressuring more oil companies to follow suit, as the allure of breakups to create more than $100 billion of market value entices investors.
Mozambique’s state-backed petroleum company is considering selling a stake valued at about $2 billion in the Rovuma offshore gas field as the country seeks to bolster public finances, said three people familiar with the matter.
Energy companies in search of oil riches rivaling the biggest finds from Brazil to Angola are flocking to Texas shale, where new wells have triggered a 230- fold increase in crude output in three years.