Shell (SHEL) has agreed to sell its wholly owned subsidiary BG Cyprus to MOL Group for up to $720 million, subject to customary adjustments and milestone-linked contingent payments, the company said Friday.
BG Cyprus holds a 35% non-operated interest in Cyprus Offshore Block 12, which contains the Aphrodite natural gas field. Upon closing, MOL will assume Shell's rights and obligations associated with the stake.
The transaction is expected to close in early 2027, it added.
Energy company Lukoil (LKOH.ME) shut down one of its crude distillation units following Ukraine's drone strike on its refinery in Perm, Russia, Reuters reported Thursday, citing two industry sources.Kyiv's attack caused a fire and damaged the facility's CDU-5 primary crude processing unit, which has a capacity of 12,930 metric tons per day and accounts for 34% of the plant's overall refining capacity, according to the sources.Lukoil did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
(Updates with Exxon Mobil's response to a request for comment in the last paragraph.)Exxon Mobil (XOM), Chevron (CVX) and other big oil companies are vying for Venezuela's choicest drilling spots, but talks with Venezuelan officials have recently hit an impasse, preventing them from making big moves, The Wall Street Journal reported Thursday, citing people familiar with the matter.One key issue is that the major US oil companies are interested in many of the same oil fields, and they want to secure the most favorable regulatory and fiscal terms possible. In addition, last month's devastating earthquake delayed progress, the report said.Exxon declined to comment, while Chevron didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $154.62, Change: $-2.13, Percent Change: -1.36%
Celanese (CE) said Thursday that the Amsterdam District Court dismissed the damages claim brought by Shell's (SHEL) Shell Chemicals Europe subsidiary.The court also dismissed a claim from Repsol-related entities seeking declaratory judgement of liability of Celanese and its co-defendants, Celanese said.The claims stemmed from a 2020 settlement with the European Commission regarding past ethylene purchases in North-Western Europe, according to the company.Shell did not immediately respond to' request for comment.Celanese shares were up more than 2% in Thursday trading.Price: $44.87, Change: $+0.94, Percent Change: +2.13%