Centrica merges oil and gas businesses with Baverngas Norge

17/07/2017 16:43 Oil Market


The new company will be the result of the joining of British company Centrica’s exploration and production business with Norwegian Baverngas Norge.

Centrica will own 69% of the shareholders and Baverngas the remaining 31%. The joint venture will become an European E&P business, and will own exploration and development holdings in UK, Netherlands, Norway and Denmark.

The combined oil production for this year is evaluated to reach 50-55 million barrels, and exceed £150 million of cost savings.

Group Chief Executive of Centrica, Iain Conn declared that the joint venture creates a viable E&P business with shareholders who have a strategic vision regarding E&P. The statement came after the removal of Canada and Trinidad & Tobago assets. The company intends to make its money from customer service and the sale of services and products such as thermostats and smart meters.

Total invests in solar, EREN and GreenFlex, aiming renewables growth

20/09/2017 13:36:00

Total increases its share in renewables by investing in solar and wind energy producer EREN RE and energy efficiency company GreenFlex.


Daily (20.09.2017): WTI crude price dipped to $49.48 a barrel on increased U.S. shale production

20/09/2017 10:47:00

Oil markets dipped on Tuesday, influenced by increasing U.S. shale production and worries that another hurricane hitting the Caribbean could affect refineries and disrupt delivery to and from the United States.


9 Traits of Highly Effective Energy Consultants [Infographic]

20/09/2017 10:30:00

Procuring energy and managing related risks presents businesses with unique challenges unlike any other goods or services they purchase. Besides, energy commodity prices can be extremely volatile. They can go up and down and are susceptible to unpredictable price increases. They’re also governed by a complex set of rules and inter-relationships.