LONDON More than half of the value of Africa-focused Tullow Oil was wiped out on Monday as Chief Executive Officer Paul McDade stepped down and the oil producer scrapped its dividend after failing to meet production targets due to weak performance by flagship assets in Ghana.
By Shadia Nasralla, Olesya Astakhova and Bozorgmehr Sharafedin
By Shadia Nasralla, Olesya Astakhova and Bozorgmehr
* OPEC+ seeks additional cuts of more than 400,000 bpd
MOSCOW/VIENNA OPEC and its allies led by Russia are gearing up to approve deeper oil production cuts this week to prevent a new glut and a collapse on oil prices with OPEC member Iraq saying the move was supported by key members.
LONDON Bids for North Sea oil and gas firm Siccar Point, backed by private equity groups Blackstone and Blue Water Energy, came in at between $1.2 billion and just under $2 billion, according to three industry sources.
LONDON Exxon Mobil plans to sell up to $25 billion of oil and gas fields in Europe, Asia and Africa in its biggest asset sales for decades, seeking to free up cash to focus on a handful of mega-projects, according to three banking sources.
CAPE TOWN/LONDON A handful of protesters on the ground floor of the cavernous Cape Town International Convention Centre spread fake oil on the ground and chanted, demanding an end to fossil fuels.