EP Energy LLC, the production and exploration unit formed when Apollo Global Management LLC bought El Paso Corp.’s oil and gas operations last year, agreed to sell $1.3 billion of assets in three deals.
Statoil ASA and Tullow Oil Plc are finishing a well aimed at achieving the first commercial oil discovery in Mozambique, the East African country where explorers have made the century’s largest natural gas finds.
Norway’s oil minister said it would be difficult to abandon a plan to cut tariffs on its gas pipelines by as much as 90 percent, ignoring pleas from international investors to scale back the reductions from funds committing $5.6 billion to the network.
First Pacific Co. Ltd. is considering expanding control of Manila Electric Co. by buying San Miguel Corp.’s stake in the Philippines’ largest power distributor, said Chief Executive Officer Manuel V. Pangilinan.
Idemitsu Kosan Co., Japan’s third- biggest oil refiner, is seeking a stake in a natural gas field in Canada to secure supplies for a proposed export plant in the country that will ship the fuel back home.
San Miguel Corp., the biggest Philippine company by sales, is considering selling its stake in Manila Electric Co. in parts because finding a buyer for the entire holding worth $3.5 billion is proving difficult.