In this list
Oil

Algeria is open to 'compromise' on Total's Anadarko deal: energy minister

Commodities | Electric Power | Electricity | Energy | Nuclear | Energy Transition | Renewables | Natural Gas | Natural Gas (European) | Oil | Crude Oil | Refined Products

Market Movers Europe, Nov 29-Dec 3: Oil slumps on COVID-19 concerns as travel restrictions announced

Energy | Oil | Crude Oil

Platts Crude Oil Marketwire

Agriculture | Grains | Sugar | Energy | Coal | Thermal Coal | Energy Transition | Oil | Metals | Steel

Market Movers Asia, Nov 29-Dec 3: New Covid-19 variant to weigh on commodity markets

Energy | Oil | Crude Oil | Refined Products | Gasoline

OPEC+ begins two-day talks on January oil output targets as US lays on pressure

Energy | Oil

Fuel for Thought: OPEC+ to set tone for 2022 with response to US oil release, COVID-19 variant

Algeria is open to 'compromise' on Total's Anadarko deal: energy minister

Tindouf, Algeria — Algeria is open to a "good compromise" on a plan for France's Total to buy Anadarko's Algerian assets, the country's energy minister said Monday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

"We have seen the information on this transaction," energy minister Mohamed Arkab told reporters in Tindouf in western Algeria. Sonatrach, which controls Algerian energy assets, "will seek a good compromise that is in the interest of the country."

Total said in early May it reached an agreement to buy Anadarko's African oil and gas assets from Occidental Petroleum for $8.8 billion, pending Occidental's successful acquisition of Anadarko. Chevron dropped out of the bidding for Anadarko, clearing the way for Occidental's $57 billion offer for the US shale producer whose African assets in Algeria, Ghana, Mozambique and South Africa are 70% natural gas.

Total didn't respond to requests for comments about the deal going through. Reuters reported on Sunday that Arkab said Algeria would block the acquisition. Anadarko owns 24.5% of fields in the Berkine basin that represented gross production of 320,000 boe/d in 2018, according to Total. Total already owns 12.25% of the Hassine Berkine, Ourhoud and El Merk fields.Total has said it expected the deal to close in 2020.

-- Illies Sahar, newsdesk@spglobal.com

-- Edited by Claudia Carpenter, newsdesk@spglobal.com