Posted on 04/08/2015 6:16:24 AM PDT by thackney
The latest example is Royal Dutch Shell's bid for BG Group, a British firm with a stockpile of prized oil fields off the coast of Brazil, and lucrative natural gas holdings in Australia.
The companies announced the £47 billion ($70 billion) deal early Wednesday. It's the biggest in the sector since Exxon bought Mobil in 1998, according to Dealogic. Shell will pay a 50% premium to BG's closing share price of £9.10 ($13.56) on Tuesday.
If completed, the purchase will add 25% to Shell's oil and gas reserves and 20% to production. Shell also expects "synergies" of around $2.5 billion, raising the possibility of job cuts.
Shares in BG soared 38% in London, while Shell slipped nearly 6%.
With oil prices below $60 a barrel, Shell isn't alone in its desire to get bigger. Oil services group Halliburton recently shelled out $34.6 billion for Baker Hughes, and Spain's Repsol spent more than $8 billion last year to buy a Canadian firm. A flurry of smaller deals have also been announced.
(Excerpt) Read more at money.cnn.com ...
http://fuelfix.com/blog/2015/04/08/shell-sets-70-billion-deal-to-buy-bg-group/
The move follows a year in which Shell made several major divestitures, including some in the U.S. shale, as it sought to restructure and streamline operations.
The purchase will improve Shell’s ability to perform in deepwater as well as in the liquefied natural gas business, Shell CEO Ben van Beurden said in a statement.
Van Beurden said BG’s strength in natural gas makes strategic sense for Shell, since it sees long-term demand for the fuel growing. He said the acquisition of BG would allow the combined company to work faster in exploration and other long-term projects....
Shell, in particular, has touted the access the deal would give it LNG projects in Australia and deep-water product in Brazil.
The deal will result in BG shareholders owning 19 percent of the combined company, Shell said....
Wasn’t there something with soros a few years back that he was investing in Brazilian oil and gas?
Yeah, the bias was obvious starting with the title.
I guess the author prefers smaller companies with bigger debts and higher risk.
Soros has been invested in Brazilian Petroleo Brasileiro SA for a long time.
George Soros Cut Petrobras Stake in Second Quarter
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a.V5sgGzdsQY
August 14, 2009
Sorry, hit post before I included the more recent link
George Soros Continues To Buy Petrobras (PBR) Stock
http://www.bidnessetc.com/31387-george-soros-continues-to-buy-petrobras-pbr-stock/
Dec 23, 2014
Baugh wrote: "Energy is the foundation of civilization, and liquid fuel the key pillar in that foundation..."
Baugh reviews the other forms of fuel, and explains what they're good for. It's a pity these jernalist buffoons weren't educated in these things.
You can't attach a solar panel to a chainsaw...
The Oregon 40-Volt Battery Powered Chainsaw (Solar Powered!)
http://www.cammather.com/carbon-footprint/oregon-40-volt-battery-powered-chainsaw-solar-powered
Didja know that the EPA monkeys have mandated emissions controls on chain saws?
That means that people who really work will be standing in the woods holding chainsaws that don't work.
And that our gruberment employees who work in the woods will also be holding chainsaws that don't work, blowing many hours of "work" on the taxpeasant dime.
And then the taxpeasants will end up buying them new chainsaws, anyway...
This, after the EPA mandated "biodiesel" mixed into diesel fuel, which can plug your fuel filter with water and freeze down your logging equipment in the middle of the winter (happened to my buddies twice last winter).
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