Egypt on the list: oil and gas assets for sale in 7 countries (survey)
A survey by the specialised Energy platform, based in Washington, lists oil and gas assets for sale in Egypt, the United Kingdom, the United States, Trinidad and Tobago, Angola, Colombia and Ecuador, with sales at stages ranging from ongoing negotiations to final agreements awaiting closing conditions. The largest disclosed deal by value is Gran Tierra Energy's sale of all its operations in Colombia and Ecuador to France's Maurel & Prom for about $1.33 billion, alongside assets of BP, Chevron, Woodside and California Resources. BP's Egyptian assets are close to sale, with an Emirati company in advanced talks to acquire the entire offered portfolio, while BP's UK North Sea assets have also been put up for sale in a deal that may exceed $2 billion.
Why it matters: The wave of oil and gas divestments shows how major companies are reordering their portfolios and reducing debt, a shift that bears on energy security and the geography of upstream ownership.