Total SA, Europe’s third-largest oil producer, paid an initial $401 million to InterOil Corp. for a stake in its natural gas discoveries in Papua New Guinea, sidestepping opposition from Oil Search Ltd.
Oil Search Ltd., Papua New Guinea’s largest oil and gas producer, is contesting Total SA’s agreement earlier this week to acquire a stake in InterOil Corp.’s natural gas discoveries in the Pacific nation.
InterOil Corp., an explorer planning to develop Papua New Guinea’s second gas export project with Total SA, said it has been approached by potential customers interested in buying a stake in the venture.
Total SA, Europe’s third-largest oil producer, completed a revised agreement to acquire a stake in InterOil Corp.’s natural gas discoveries in the Pacific nation of Papua New Guinea for an initial $401 million.
A Chinese satellite detected an object in the southern Indian Ocean that’s almost the width of an Olympic-size swimming pool, giving renewed impetus to the hunt for the Malaysian airliner that disappeared more than two weeks ago.
French satellite scans provided fresh indications of objects adrift in part of the Indian Ocean that’s being scoured for the missing Malaysian airliner, backing up Chinese evidence as more planes and ships join the hunt.
G4S Plc, which agreed a financial settlement with the U.K. government after overcharging for tagging criminals last year, fell after reporting a loss on one- time costs to clean up its act and strengthen operations.
Oil Search Ltd., Exxon Mobil Corp.’s partner in a $19 billion liquefied natural gas venture in Papua New Guinea, halted its shares before a statement about a material acquisition, possibly a stake in a new project.