Hints and tips:
...BP said it was a conducting “a thorough investigation” and “co-operating with investigations conducted by regulatory agencies.”...
...Two scoops to start, first: Talks over a planned $30bn merger between the chemicals arms of Abu Dhabi National Oil Company and Austria’s OMV have stalled over recent weeks, putting at risk a complicated...
...He took over the team in 2018 alongside US billionaire Wes Edens, co-founder of Fortress Investment Group....
...A flurry of big M&A deals in the late 1990s and early 2000s condensed control of US oil and gas production into the hands of fewer players as BP absorbed Amoco and Arco, Chevron swallowed Texaco and Exxon...
...newsletter: Another oil mega-deal Orcel’s dealmaking strategy at UniCredit The corporate drama at Atos The Big Oil ‘arms race’ has begun A string of massive deals in the late 1990s and early 2000s — BP-Amoco...
...He once mortgaged his house to help with the purchase of a speciality chemicals company from BP....
...Under the OMV deal the Austrian group’s chemicals arm Borealis would be combined with Borouge, the chemicals company majority owned by Adnoc and listed in Abu Dhabi....
...Ratcliffe founded Ineos in 1998 with co-owners Andy Currie and John Reece, snapping up assets from BP, ICI and others to develop it into one of the world’s largest chemicals business....
...Exxon peers in Europe such as BP and Shell have sold parts of their fossil fuel portfolio in response to climate concerns. Both companies have cut oil output since 2019....
...Warburg Pincus also has telecoms expertise in the form of former Deutsche Telekom chief executive René Obermann, the firm’s co-head of Europe....
...In 2005, 15 people were killed and 170 injured in an explosion at a refinery in Texas, which the US Chemical Safety and Hazard Investigation Board blamed on “safety deficiencies at all levels” of BP....
...Similarly, China is losing its enthusiasm for a push to make chemicals from coal. This has triggered project suspensions from the likes of Inner Mongolia Yitai Coal....
...It had captured “a changing of the tides” in terms of shared co-operation, they added....
...Last month, it signed a deal with UK-based chemicals company Linde, in which Exxon says it will transport 2.2mn tonnes a year of CO₂ from a new Linde hydrogen facility on the US Gulf Coast and permanently...
...“Sinopec attaches great importance to the co-operation with QatarEnergy, who we regard as a strategic, long term and all-round partner, and we are expecting more co-operation fruits to come,” said Ma Yongsheng...
...Hydrogen can be swapped in as a feedstock in chemicals production, for example, and can replace the coal used to heat steelmaking furnaces....
...In comparison, the carbon intensity of Chevron’s operated oil and gas projects in 2021 was 28.6kg, while BP’s was 15.5kg....
...BP says it is working with Germany-based Linde, an industrial and chemicals firm, to capture the carbon from one of its hydrogen production facilities in Houston....
...Germany’s Wintershall Dea, which has a range of projects with Russia’s state-owned Gazprom and is co-owned by German chemicals group BASF and Russian billionaire Mikhail Fridman’s investor group LetterOne...
...Howard Marks, co-founder and co-chair of Oaktree Capital Management, writes in the FT that businesses are ‘onshoring’ more of their operations to shelter from geopolitical risk....
...His father met the buyer for a group of Co-Op stores at a networking event, who said they needed a sandwich supplier. The kitchen operation began....
...“We are very slow, very complicated,” said Martin Brudermüller, chief executive of European chemicals group BASF....
...Ineos Energy, an arm of the private UK chemicals company that has bought Hess Corporation’s oil and gas assets in Denmark for $150m, is among the newly energised opportunists....
...Unnamed financial institutions were the largest users of offsets in 2019, followed by the chemicals and petrochemicals industries, according to the Trove Research group....
...BP Sector: OIL AND GAS / HQ: london, UK Chief executive Bernard Looney, who took the helm at BP just as the world was shutting down in February 2020, has had a bruising pandemic....
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