Category: WorldOil.com News

Nigeria Court orders arrests over Shell, Eni West African deal

By Dulue Mbachu on 4/17/2019

ABUJA (Bloomberg) — A court in Nigeria ordered the arrest of two former ministers and others allegedly connected with illegal payments leading to the 2011 acquisition of what is considered one of the biggest oil fields in the West African country.

Former Justice Minister and Attorney General Mohammed Adoke, ex-Oil Minister Dan Etete and five foreign nationals linked to the acquisition of Malabu’s Oil Prospecting License 245 were declared wanted Wednesday by Justice Danlami Senchi of the Federal High Court, Abuja.

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ABB names Peter Voser as interim CEO, Ulrich Spiesshofer steps down

4/17/2019

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Photo: Peter Voser, interim CEO, ABB.

ZURICH — The Board of Directors of ABB and its CEO Ulrich Spiesshofer (55) have mutually agreed for him to step down from his role, which he has held since 2013. The Chairman of the Board Peter Voser (61), will become interim CEO in addition to his current role, with immediate effect. An official search to find a new CEO has been initiated.

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Wildcatter Floyd Wilson launches Falconer Oil and Gas Corp.

By Rachel Adams-Heard on 4/16/2019

HOUSTON (Bloomberg) — Legendary wildcatter Floyd Wilson is back with his “ninth or tenth” oil company. Fresh from getting ousted as chief executive of Halcon Resources Corp.

Falconer Oil and Gas Corp., a Houston-based venture with a vague mandate from Wilson to “make money,” just two months after he stepped down as CEO of Halcon following a battle with hedge fund Fir Tree Capital Management LP. Fir Tree called Halcon’s spending “excessive,” citing Wilson’s insistence on flying private even after the company emerged from bankruptcy in 2016.

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ExxonMobil wins three blocks in Argentina offshore bid round

4/16/2019

IRVING — ExxonMobil has increased holdings in Argentina after its subsidiary ExxonMobil Argentina Offshore Investments B.V. and an affiliate of Qatar Petroleum won three exploration blocks during Argentina’s first offshore bid round. The award adds approximately 2.6 million net acres to its existing holdings in Argentina, which includes the onshore Vaca Muerta unconventional oil play and a business support center in Buenos Aires.

The blocks are located in the Malvinas basin, approximately 200 mi (320 km) offshore Tierra del Fuego and include MLO-113, MLO-117 and MLO-118.

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Colorado Petroleum Council responds to Senate Bill 181 being signed into law

4/16/2019

DENVER — Governor Jared Polis signed Senate Bill 181 into law. Governor Polis’ signature follows the measure’s passage through the Colorado legislature on April 3, 2019. Colorado Petroleum Council spokesman Ben Marter released the following statement:

“Governor Polis’ signature makes Senate Bill 181 law, which fundamentally alters the natural gas and oil industry’s future in the State of Colorado. From the introduction of the measure early last month, our industry vigorously opposed the policy and the process. Senate Bill 181 remains a threat to one of the foundations of Colorado’s economy.

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