M&A

Houston’s Hilcorp Energy Co. has completed a takeover of BP plc’s upstream portfolio in Alaska and is nearing a handoff of the midstream unit, allowing the private explorer to become one of the state’s biggest operators. The $5.6 billion deal struck last year with BP hands affiliate Hilcorp Alaska immediate control of BP Exploration (Alaska)…

BP plc on Monday announced it is selling off its substantial petrochemicals business, much of it in the United States, in a $5 billion deal with chemicals giant Ineos Group. The sale, designed as “the next strategic step in reinventing BP,” would strengthen the balance sheet and deliver on the supermajor’s $15 billion total planned…

The Covid-19 crisis, unsurprisingly, has caused global energy investments to fall more than ever, with “serious implications” for security and the transition to alternative fuels, the International Energy Agency (IEA) said Wednesday.

Total SA is strengthening its hand in Europe and folding in more demand for its robust liquefied natural gas (LNG) assets in a deal to acquire 2.5 million customer contracts in Spain from utility Energias de Portugal (EDP).

LNG Ltd. (LNGL) said Tuesday it plans to sell its interest in a proposed liquefied natural gas (LNG) export project in Lake Charles, LA, to Global Energy Megatrend Ltd. for $2.25 million.

Royal Dutch Shell plc late Monday agreed to take $541 million from National Fuel Gas Co. (NFG) for its upstream and midstream portfolio in Pennsylvania.

BP plc still expects to offload its legacy Alaska portfolio to Houston-based Hilcorp Energy Co., but terms of the $5.6 billion agreement have been renegotiated in response to market volatility.

LNG Ltd. (LNGL), which is developing natural gas export terminals on the Gulf Coast and in Canada, is facing a cash crunch and warned Tuesday that it might not be in business much longer after a Singapore-based company backed out of a deal to acquire it.

LNG Ltd. (LNGL), which is developing natural gas export terminals on the Gulf Coast and in Canada, is facing a cash crunch and warned Tuesday that it might not be in business much longer after a Singapore-based company backed out of a deal to acquire it.