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Repsol close to buying Talisman Energy MADRID: Spanish oil major Repsol is close to buying Canada's fifth-largest independent petroleum producer, Talisman Energy, a source with knowledge of the matter said on Monday. The source, speaking on condition of anonymity, said the board of Repsol had approved making an offer for the Canadian company, and Talisman's board was now meeting to review it.Spanish daily El Pais said the bid could be worth around 10 billion euros ($12.44 billion), including debt worth $4.3 billion. That would represent a more than 50 percent premium on Talisman's market value of $5.33 billion. Talisman confirmed on Monday that it was engaged in discussions with Repsol regarding a potential corporate transaction. Repsol declined to comment.A drop in oil prices has lowered valuations for producers like Talisman, spurring interest from Repsol which has been on the search for oil and gas targets in North America or other countries with stable regulation. By acquiring ...
Oil hits five-year low before rallying above $62 LONDON: Brent crude oil hit a fresh five-year low close to $60 a barrel on Monday after producer group OPEC restated its determination not to cut output despite a global fuel glut, but the North Sea benchmark later rallied to above $62.Market momentum appeared to be downwards, with analysts saying oil could plumb new depths before a sustained recovery.Oil prices have collapsed over the last six months as high-quality, light crude from North America has ...
UK gas prices ease on mild weather forecast LONDON: Prompt natural gas prices in Britain eased on Monday as forecasts for mild weather offset a fall in gas flows.Prices for next-day delivery edged down 0.45 pence to 54.10 pence per therm at 0956 GMT.Meteorologists forecast temperatures for the remainder of the week as above normal for this time of year, in line with longer range forecasts for a milder than average December and January.Unplanned outages at St. Fergus and Kollsnes reduced gas flows ...
Oil rebounds from new five-year lows, boosting stocks LONDON: World oil prices rebounded slightly Monday from fresh five-year lows amid stubborn worries over weak global crude demand, boosting European stock markets.Investors in Japan shrugged off Prime Minister Shinzo Abe's decisive re-election and focused instead on the weak economy.In midday London deals, Brent North Sea crude for delivery in January was up 26 cents at $58.07 a barrel, after earlier slumping to $56.25 -- the lowest level since May 18, 2009.US benchmark West Texas ...
Oil hits new five-year low before rallying to $63 LONDON: Brent crude oil hit a fresh five-year low close to $60 a barrel on Monday after producer group OPEC restated its determination not to cut output despite a global fuel glut, but the North Sea benchmark later rallied to around $63.Market momentum appeared to be downwards, with analysts saying oil could plumb new depths before a sustained recovery.Oil prices have collapsed over the last six months as high-quality, light crude from North America has ...