• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 9 hours Maybe 8 to 10 "good" years left in oil industry * UAE model for Economic Deversification * Others spent oil billions on funding terrorism, wars, suppressing dissidents, building nukes * Too late now
  • 4 hours OPEC will consider all options. What options do they have ?
  • 1 hour Recession Jitters Are Rising. Is There Reason To Worry?
  • 15 hours Russia Accuses U.S. Of Stoking Tensions With Missile Test
  • 6 hours What to tell my students
  • 6 hours CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 19 hours With Global Warming Greenland is Prime Real Estate
  • 7 hours NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 10 hours TRUMP'S FORMER 'CHRISTIAN LIAISON' SAYS DEEPWATER HORIZON DISASTER WAS GOD'S PUNISHMENT FOR OBAMA ISRAEL DIVISION
  • 2 hours Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
  • 1 day In The Bright Of New Administration Rules: Immigrants as Economic Contributors
  • 22 hours Get First Access To The Oilprice App!
  • 11 hours Flaring is at Record Highs in Texas
Alt Text

U.S. Is Now Largest Oil… And Gas Producer In The World

Petroleum and natural gas production…

Alt Text

Can Oil Markets Withstand Recession Fears?

The trade war escalation combined…

Jen Alic

Jen Alic

 

More Info

Premium Content

Alfa Billionaires Launch L1 Energy Fund

The former owners of TNK-BP and the Alfa Group let it be known in March that they were shopping around with their eyes on the oil industry in a big way; this week, the Alfa Group announced it would invest $10-$20 billion or more in global oil and gas projects.

They’ve been looking for somewhere to put the billions they made on the sale of their TNK-BP Russian venture last year. Alfa Group took in $14 billion in the March sale of the TNK-BP joint venture to Russian state-run Rosneft.

Related Article: How to Position Yourself as the Natural Gas Market Moves through its Cycle

Behind the $20 billion+ fund is billionaire Mikhail Fridman and German Khan—Fridman’s former Alfa partner. Khan will run the fund, called L1 Energy, which is based in London and part of the Alfa Group’s new LetterOne Group investment vehicle.

The fund’s advisors include some prominent oil executives, including former BP CEO Lord Browne. Browne is now a partner at Riverstone energy-focused equity fund. Also on the board is Andrew Gould, chairman of BG Group and former CEO of Schlumberger, as well as Jim Hackett, former chairman of Anadarko Petroleum Corp.

The investment plan foresees $10 billion in equity investments in the oil and gas sector over the next 3-5 years, and a potential $20 billion on acquisitions and partnerships by 2018.

By. Jen Alic of Oilprice.com




Download The Free Oilprice App Today

Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play