{"id":649884,"date":"2017-03-12T04:13:43","date_gmt":"2017-03-12T04:13:43","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/12\/is-exxon-bidding-for-bp-again\/"},"modified":"2017-03-12T04:13:43","modified_gmt":"2017-03-12T04:13:43","slug":"is-exxon-bidding-for-bp-again","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/12\/is-exxon-bidding-for-bp-again\/","title":{"rendered":"Is Exxon bidding for BP again?"},"content":{"rendered":"<p><strong>Rumors in the <\/strong><a href=\"http:\/\/www.telegraph.co.uk\/business\/2017\/03\/10\/market-report-bp-climbs-amid-city-takeover-chatter\/\"><strong>UK press<\/strong><\/a><strong> that Exxon is in acquisition mode are driving BP shares up<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-03-10\/exxon-bp-acquisition-talk-resurfaces-is-a-deal-really-likely\">Bloomberg<\/a> reports, but analysts aren\u2019t biting \u2014 they\u2019ve heard the tune before, in both 2015 and 2010. Speaking against the acquisition: USD 20 bn in penalties Exxon would take on as a result of BP\u2019s Gulf of Mexico oil spill. Analysts also suggest an M&A of this size would surely attract the ire of UK regulators. BP holds sizeable concessions in the West Nile Delta, <a href=\"https:\/\/enterprise.press\/stories\/2016\/11\/27\/bp-buys-into-shorouk-concession\/\">acquired<\/a> a 10% stake in Zohr back in November, and<a href=\"https:\/\/enterprise.press\/stories\/2017\/02\/16\/bp-looking-to-increase-its-investments-in-egypt-to-reach-usd-43-bn-within-five-years\/\">could increase its investments in Egypt<\/a> by another USD 13 bn over the next five years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rumors in the UK press that Exxon is in acquisition mode are driving BP shares up, Bloomberg reports, but analysts aren\u2019t biting \u2014 they\u2019ve heard the tune before, in both 2015 and 2010. Speaking against the acquisition: USD 20 bn in penalties Exxon would take on as a result of BP\u2019s Gulf of Mexico oil [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-649884","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"50796f4f-24e7-454f-afb8-cda3eaf6024d","order":"0","is_powered_by":true,"section_story_id":"3ea0766c-19ef-45c7-9ef8-cd8202f19009","story_type":"1","photo_url":"","photo_position":"above","related_issue":[649861],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Is Exxon bidding for BP again? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/12\/is-exxon-bidding-for-bp-again\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Exxon bidding for BP again?\" \/>\n<meta property=\"og:description\" content=\"Rumors in the UK press that Exxon is in acquisition mode are driving BP shares up, Bloomberg reports, but analysts aren\u2019t biting \u2014 they\u2019ve heard the tune before, in both 2015 and 2010. 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The awards include the 1.2 mn North Marakia Offshore block near the north coast, and 543k acres in the North East El Amriya Offshore block in the Nile Delta. Exxon\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":635463,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/05\/exxon-mobil-looking-to-invest-in-egypts-offshore-fields\/","url_meta":{"origin":649884,"position":1},"title":"Exxon Mobil looking to invest in Egypt\u2019s offshore fields","author":"enterpriseam admin","date":"5 December 2017","format":false,"excerpt":"Exxon Mobil knocking on Egypt\u2019s door: Government officials and industry sources said Exxon Mobil is looking to invest in Egypt\u2019s offshore oil and gas fields, Reuters reports. Oil Minister Tarek El Molla says company officials already met with him to discuss upstream operations. \u201cWe have been discussing with them, visiting\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601960,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/14\/exxon-considers-israeli-oil-and-gas-exploration\/","url_meta":{"origin":649884,"position":2},"title":"Exxon considers Israeli oil and gas exploration","author":"enterpriseam admin","date":"14 March 2019","format":false,"excerpt":"In a potential boost to Egypt\u2019s regional gas ambitions, Exxon considers Israeli oil and gas exploration: US oil giant ExxonMobil is considering oil and gas exploration in Israeli waters, giving a further boost to regional plans for an East Med natural gas market, a source told Reuters. Company execs reportedly\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570500,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/02\/tharwa-to-drill-7-new-wells-in-2020\/","url_meta":{"origin":649884,"position":3},"title":"Tharwa to drill 7 new wells in 2020","author":"enterpriseam admin","date":"2 April 2020","format":false,"excerpt":"The Tharwa Petroleum Company will drill seven new exploration wells in 2020, the Oil Ministrysaid in a statement. Tharwa president Amr El Leithi said that the company will also secure six new concessions and enter into joint ventures with Total, Exxon Mobil, Chevron, BP and Shell this year. Tharwa owns\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567140,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/14\/dragon-oil-completes-acquisition-of-bp-gulf-of-suez-assets\/","url_meta":{"origin":649884,"position":4},"title":"Dragon Oil completes acquisition of BP Gulf of Suez assets","author":"enterpriseam admin","date":"14 January 2020","format":false,"excerpt":"M&A WATCH- Dragon Oil completes USD 500 mn acquisition of BP\u2019s Gulf of Suez assets: Emirates National Oil Company (ENOC) subsidiary Dragon Oil has wrapped up its acquisition of BP\u2019s Gulf of Suez asset for USD 500 mn, the Oil Ministry said in a statement (pdf). A conflicting report by\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651506,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/14\/bp-completes-acquisition-of-10-of-enis-stake-in-the-zohr-gas-field\/","url_meta":{"origin":649884,"position":5},"title":"BP completes acquisition of 10% of Eni\u2019s stake in the Zohr gas field","author":"enterpriseam admin","date":"14 February 2017","format":false,"excerpt":"BP completes acquisition of 10% of Eni\u2019s stake in the Zohr gas field: Petroleum Minister Tarek El Molla, Eni CEO Claudio Descalzi, and BP CEO Bob Dudley signed a contract on Monday completing BP\u2019s acquisition of a 10% stake in the Shorouk offshore concession\u2019s Zohr gas field from Eni for\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/649884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=649884"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/649884\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/649861"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=649884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=649884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=649884"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=649884"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=649884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}