Exclusive - Italy's Edison launches spin-off of oil & gas unit: sources - REUTERS

APRIL 4, 2018 / 3:17 PM
Clara Denina, Ron Bousso

LONDON (Reuters) - Italian energy group Edison (EDNn.MI), part of French utility EDF (EDF.PA), is preparing the sale of its oil and gas unit, the latest power producer to abandon fossil fuels to focus on its retail business, four industry sources said.

Edison has selected investment banks Rothschild (ROTH.PA) and Perella Weinberg to organise an auction for the exploration and production division, which could be valued at $2 billion (1.43 billion pounds) to $3 billion, one of the sources said.

The company has been looking to increase the size of its domestic electricity and gas retail business, betting on the market opening up to more competition, with retail energy customers increasingly able to chose their supplier.

Edison and EDF declined to comment. Rothschild declined to comment. Perella Weinberg did not respond to a request for comment.

BASF agrees oil unit merger with Fridman's DEA to spur expansion - REUTERS

DECEMBER 7, 2017 / 9:13 PM

Dmitry Zhdannikov, Ron Bousso, Ludwig Burger

FRANKFURT/LONDON (Reuters) - Chemical giant BASF agreed to merge its oil and gas unit Wintershall with DEA, a vehicle of Russian billionaire Mikhail Fridman, to create one of the largest independent oil and gas firms in Europe, the companies said.

Fridman and his partners in the LetterOne investment vehicle made billions by selling their Russian oil empire in 2013 but have since struggled to expand in the United States and Britain due to sanctions imposed on Moscow despite not being under sanctions themselves.

By folding DEA into Wintershall and creating Germany’s first oil champion, cash-rich Fridman could create new opportunities for growth in large Western markets.

Electricity Ministry meets with EDF Energy to discuss cooperating on Siemens power plants management - ENTERPRISE / AL BORSA

Sunday, 22 January 2017

Officials from the Egyptian Electricity Holding Company are meeting with a delegation from EDF Energy to discuss cooperating on managing the Siemens power plants, unnamed sources told Al Borsa. 

The Electricity Ministry had earlier issued a tender to receive the completed power plants from Siemens and assist the ministry in managing the power plants. Three companies presented bids including EDF Energy, RWE, and Parsons.

Fall of oil price pushes EGPC to halt tender for new exploration | ENERGY EGYPT

JANUARY 10, 2016 

The price of Brent on international markets recorded $34.4 on Wednesday and reached a maximum of $45 in November.

The Egyptian General Petroleum Corporation (EGPC) postponed offering new exploration tenders for oil and gas for foreign companies in ten areas until prices of Brent oil stabilise in international markets, instead of offering tenders early in 2016.

Security approvals related to these areas have been finalisaed, CEO of EGPC Mohamed El-Masry said. He said however that the continuous decline in Brent’s prices is not encouraging companies to apply for exploration for crude oil.

10 bids for Leviathan export tender to Turkey | Globes

23/03/2014, 19:21

Amiram Barkat
Bidders include Zorlu Group and a joint bid by Turcas Petrol AS and German electricity utility RWE.

More than ten bids were submitted in the tender by the partners in Leviathan for the export of natural gas to Turkey. The bids for the purchase of natural gas ranged from 7 billion cubic meters (BCM) a year to 10 BCM, amounts that could generate $22-31 billion revenue, assuming a 15-year gas supply contract at $6 per million British Thermal Units (mmBTU), the price of natural gas in Israel's domestic market.

Sources inform ''Globes'' that the bidders in the tender include Zorlu Group, which has stakes in independent power producers in Israel, and a joint bid by Turcas Petrol AS and German electricity utility RWE AG (XETRA: RWE).