Oil, Acquisition | featured news

GE to buy oil pump maker Lufkin for nearly $3 billion

General Electric Co is buying oilfield pump maker Lufkin Industries Inc for $2.98 billion, sharply increasing its presence in the fast-growing market to extract oil and natural gas from shale rock, the conglomerate said on Monday.

 

Big miner buys pair of energy companies for $9B

Mining company Freeport-McMoRan is buying a pair of oil and gas producers for $9 billion, creating a natural resources conglomerate with assets ranging from oil rigs in the Gulf of Mexico to a huge copper mine in Indonesia....

 

China's CNOOC to buy Canada's Nexen for $15.1 billion

China's top offshore oil producer CNOOC Ltd has entered into an agreement to buy Canada's Nexen Inc for about $15.1 billion, the Chinese company said on Monday.

 

BP shares hit 6-month high after Shell bid report

BP shares hit 6-month high after Shell bid report

Shares in oil major BP hit a six-month high on Tuesday after The Daily Mail newspaper reported rival Royal Dutch Shell had considered a takeover bid during the Gulf of Mexico oil spill.

 

Schlumberger to buy Smith Int'l for $11 billion

Schlumberger Ltd., the world's biggest oilfield services company, has agreed to purchase fellow industry player Smith International Inc. for about $11 billion in stock in a move to diversify its product offerings and better compete with rival Halliburton Co.

 

Exxon’s Natural Gas Holdings Grow With $31 Billion Deal

Exxon’s Natural Gas Holdings Grow With $31 Billion Deal

Exxon’s purchase of XTO, which has expertise in the growing area of shale gas, is one of the biggest energy deals in years.

 

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