Repsol eyes European partners

Article Abstract:

The most significant recent development in the European energy sector is plans by Spanish oil and gas concern Repsol-YPF to merge with Eni, its Italian counterpart. It is believed that the Italian government supports the merger, as this would facilitate the sale of its remaining 36% stake in Eni. Both firms have denied that any deals have been signed or discussed, but Eni has acknowledged that it is considering several options. Other developments have included the creation by UK gas supplier Centrica and leading Dutch energy utility Essent of a joint venture to develop wholesale energy trading in Belgium, the Netherlands and Germany.

Gas Distribution, Joint ventures, Gas industry, Eni S.p.A., Natural gas distribution, Centrica PLC, Essent, Repsol-YPF S.A. (Buenos Aires, Argentina)

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Duke pulls out of power struggle

Article Abstract:

Leading institutional shareholders in Chile's Empressa Nacional de Electridad have supported a $2.8 million bid from Grupo Endesa of Spain. This has prompted US utility Duke Energy to drop its bid for Empressa Nacional de Electridad. Duke will instead focus on Brazilian state electricity concern Cesp, but in this case too will probably have to compete with Grupo Endesa. Article also discusses other acquisition and merger deals in Latin America, including the purchase by BG PLC and Royal Dutch Shell of a 53% stake in Comgas, the largest natural gas concern in the region.

Electric Utilities, Electric Power Generation, Transmission and Distribution, Gas Utilities, Electric services, Management, Mergers, acquisitions and divestments, Grupo Endesa, Royal Dutch-Shell PLC, Duke Energy Corp., BG PLC, Empressa Nacional de Electridad, Cesp, Companhia de Gas de Sao Paulo

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Arco bid puts market over barrel

Article Abstract:

There are still a number of uncertainties surrounding BP Amoco's purchase of Atlantic Richfield (Arco). The BP board has many challenges to address before completion in less than a year, even though Arco would have to pay out $450 million if it were to withdraw from the deal. The most significant potential problem is gaining regulatory approval, which is required at both state level and from the Federal Trade Commission. It will be necessary for advisers to address the difficult issue of land ownership in Alaska.

Atlantic Richfield Co., BP PLC, ARC

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