Neil Burrows News
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Petroleo Brasileiro SA’s worst debt position in a decade is boosting chances the Brazilian oil company will step aside and let Exxon Mobil Corp. and Royal Dutch Shell Plc buy offshore exploration licenses in Latin America’s biggest auction this year.
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Natural-gas and oil fields in the U.K. North Sea will close for planned maintenance next month, cutting pipeline supplies to Britain.
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BG Group Plc’s valuation falling by half in less than two years is making even a $60 billion company look vulnerable to a takeover as oil giants hunt for growth in new frontiers.
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BG Group Plc, Eni SpA and their partners in Kazakhstan’s second-largest oil producer are close to ceding a 10 percent stake to the state after a build-up of tax claims and fines, said people with knowledge of the talks.
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BG Group Plc, the U.K.’s third- largest oil and natural gas producer, is seeking investors for its Australian gas project, said three people with knowledge of the matter.
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Countrywide Financial Corp. investors, led by a group of New York retirement funds, agreed to settle a class-action lawsuit for more than $600 million, a person familiar with the case said.
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The prospect of new oil discoveries in the same region that yielded the Western Hemisphere’s biggest find in three decades is transforming Karoon Gas Australia Ltd. into a takeover target.
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The discovery along Africa’s east coast of the world’s biggest gas finds in a decade threatens to undo investment plans on the other side of the Indian Ocean.
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BG Group Plc appointed Chris Finlayson to succeed Frank Chapman, the chief executive officer who transformed the U.K.’s former state-owned gas driller into a global producer.
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BG Group Plc plans to exit its exploration projects in Libya by transferring its 50 percent interest in the Kufra Basin to Statoil ASA, company spokesman Neil Burrows spoke by telephone today.
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