EU approves Shell’s takeover of BG Group

Royal Dutch Shell has been given clearance by EU regulators for its £47 billion deal to buy UK oil and gas exploration firm BG Group. The European Commission said the transaction will not grant Shell market power in oil and gas exploration, LNG liquefaction or LNG wholesale supply. The energy giant also won’t be able […]

US clears Shell-BG Group’s £47bn deal

US regulators have given the green light for Shell to buy British firm BG Group in a deal worth £47 billion. The companies said they received anti-trust regulatory clearance from the US Federal Trade Commission (FTC). The deal, which will add around 25% to Shell’s oil and gas reserves and 20% to production, was initially […]

Shell to buy UK’s BG Group in £47bn deal

Energy giant Shell said it has agreed to buy oil and gas exploration firm BG Group in a deal worth around £47 billion. In a joint statement, the two firms said Shell would pay a mix of cash and shares and allow BG Group shareholders to own 19% of the combined group. If approved by […]

BG Group trims new CEO pay packet

Gas exploration firm BG Group is trimming the pay of its new boss after shareholder concerns it was too high. The “revised” pay packet means former Statoil CEO Helge Lund will get £4.7 million instead of £10 million as a warm welcome to the British firm. That’s on top of a base salary of £1.5 million […]

Egypt pays BG Group $350m for gas debt

British gas explorer BG Group has received $350 million (£219m) from the Egyptian Government. The payment is for outstanding debts to the company which along with other big energy players is owed money by the country. Around a fifth (18%) of BG’s whole production comes from its offshore rigs in Egypt. It was meant to […]

BG Group profits up 11%

Profits at oil business BG Group are 11% higher for the second quarter of 2014 than they were at the same time last year. The success comes despite having no CEO with Stephen Finlayson resigning in April for personal reasons. Total operating profit for April to June rose from $1,788m (£1,059m) last year to $1,992m […]

BG boss warns of “disappointing” 2013 results

The boss of British oil and gas explorer BG Group today admitted its earnings for 2013 will be “disappointing”. In guidance for figures due out on 4 February, BG stated total results earnings are expected to be down roughly 33% to around $2.2 billion (£1.3bn). The firm put this down to the difficult operating environment […]

UK Jasmine field produces first gas

First gas has been produced from the Jasmine field (pictured) in the UK’s North Sea. The field, claimed to be one of the largest discoveries in the UK in the last 10 years, was found in 2006 by its operator ConocoPhillips, a US explorer, which holds a 36.5% stake together with Italian firm Eni (33%) […]

BG Group flogs Texas gas business

Gas exploration firm BG Group announced yesterday it has flogged its share of a Texas midstream gas business for $231million (£144m). The term ‘midstream’ refers to the gathering system which collects wet natural gas from wellheads and transports it to a gas processing plant. BG will also take a $17 million (£11m) stake in the […]

BG Group nabs top energy spot in sustainability ranking

Oil and gas company BG Group nabbed the top spot out of energy companies in a ranking of businesses for their sustainability. The 2013 Dow Jones Sustainability Indices (DJSI) Review highlights the most sustainable companies in 24 different industrial sectors. Other industry leaders included Volkswagen for cars, Nestlé for food, drink and tobacco and Panasonic […]