Status: Abandoned Acquirer: Viston United Swiss AG (Sweden) Acquired: Petroteq Energy Inc. (Canada) (U.S.) Value: $450 million Industry Tags: Oil and Gas… Continue Reading
On January 28, 2019, the Department of Treasury’s Office of Foreign Assets Control (OFAC) announced that it has designated Petroleos de Venezuela, S.A. (PdVSA) following Executive Order (E.O.) 13850, after a determination by Treasury Secretary Steven T. Mnuchin and Secretary of State Michael Pompeo that PdVSA was operating in the Venezuelan oil sector. Additionally, OFAC has amended General License 3 and … Continue Reading
Status: Terminated Acquirer: HNA Innovation Finance Group Co., Ltd. (China) Acquired: US assets from Glencore plc Value: Approx. US$196 million Industry: Oil and Gas; Logistics UPDATE: In September 2018, Glencore plc and HNA Innovation Finance Group Co. Ltd. “agreed to terminate the sale” of its U.S. assets. (Glencore plc, Annual Report 2018 at 176.) News … Continue Reading
In February 2015, the UK Divisional Court referred questions to the ECJ for a preliminary ruling in the course of Rosneft’s judicial review proceedings challenging UK legislation that gives effect to EU sanctions against Russia. The questions referred concerned the interpretation and validity of Council Decision 2014/512/CFSP and Council Regulation (EU) 833/2014. In response to … Continue Reading
Status: Clearance Acquirer: Technip S.A. (France) Acquired: FMC Technologies, Inc. (US) Value: US$13 Billion Industry: Oil and Gas On October 7, 2016, FMC Technologies, Inc., a Delaware Corporation, and Technip S.A., a French société anonyme, received approval from CFIUS that there are no unresolved national security concerns with respect to their proposed mergers. … Continue Reading
The National Iranian Oil Company (NIOC) has lost an appeal to the Grand Chamber of the European Court of Justice to set aside the General Court’s decision not to annul its sanctions listing. NIOC was originally added to the Iranian sanctions list in 2012, on the premise it is a state owned entity that provides … Continue Reading
On Tuesday, 14 July 2015, the E3/EU+3 (China, France, Germany, the Russian Federation, the United Kingdom and the United States, with the High Representative of the European Union for Foreign Affairs and Security Policy) and the Islamic Republic of Iran agreed to a Joint Comprehensive Plan of Action (JCPOA). Under the JCPOA, Iran agreed to … Continue Reading