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Intel Notes - April 5th

Deals, Mergers & Acquisitions

- A French Engie-led consortium bidding for a natural gas pipeline network for sale by Petrobras has emerged as a potential winner after several investors left rival consortia. The group also includes Canadian pension fund Caisse de Depot et Placement du Québec. Petrobras is hoping to get some $8 billion for the network commonly known as TAG.

- ConocoPhillips is in talks with UK energy independent Chrysaor for the sale of several assets in the North Sea as the supermajor seeks to focus more on its shale oil operations at home. This is the second attempt of Conoco to sell the assets, after a deal with another UK independent, Ineos, fell through. That deal was valued at $3 billion. If Chrysaor agrees to buy the assets, they could add 60,000 bpd to its daily production of 125,000 bpd.

- Japan’s JERA has finalized the takeover of a power plant owned by its two shareholders and now ranks among the largest electricity generating companies globally. The joint venture, which is the largest LNG buyer in the world, is owned by Tokyo Electric Power and Chtubu Electric Power. The power plants they transferred to the JV have a combined capacity of 77 GW, of which 68 GW domestic capacity and 9 GW overseas.

- Noble Energy has acquired a 40% stake (and operatorship) in two offshore concessions previously owned by Shell in Colombia. The two blocks have yet to be explored, with initial investments under the contract Shell…





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