COMPANY NEWS: IOC, OIL move for Congo assets suffers setback

A move last month by India’s Indian Oil Corp. (IOC) and its partner Oil India Ltd. (OIL) to acquire French energy firm Maurel & Prom’s (M&P) assets in the Republic of Congo (Brazzaville) has hit a stumbling block.The state-owned combine had offered $1.5 billion, which was $66 million more than an existing offer from Italy’s Eni SPA, for the assets in the producing M’Boundi and Kouakouala oil fields and a few other exploration areas in the Congo.In other recent company news: Offshore drilling contractor Hercules Offshore Inc. agreed to acquire its larger peer Todco in a $2.3 billion stock and cash transaction. KazMunaiGaz Exploration & Production JSC (KM...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected