Energy Business Review: Chevron’s Discovery In Oz, Rosneft Needs A Loan

Chevron Corporation (NYSE:CVX) has announced another natural gas discovery in the Gorgon area off the western coast of Australia, which contributes to indications that the company might be able to grow its liquefied natural gas project in the area. A series of discoveries during the past two years has boosted the idea that Chevron can expand Gorgon beyond its initial yearly production capacity of 15.6 million metric tons of gas.

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Prior speculation was correct, in that The Blackstone Group L.P. (NYSE:BX) will purchase Vivint for a price of $2 billion from the initial investors Goldman Sachs Group Inc. (NYSE:GS), and Jupiter and Peterson, according to the Vivint Chief Executive Todd Pedersen to Bloomberg. Vivint provides energy-management, home-security, and solar-power leases to more than 670,000 households in North America.

Rosneft Oil Co. (RNFTF.PK) needs $15 billion in loans from London lenders, to fund a potential acquisition of 50 percent of BP’s (NYSE:BP) struggling Russian oil venture TNK-BP, according to The Financial Times. Sources indicate that Rosneft could make an offer subsequent to conducting due diligence, and also that the company might pay in excess of $20 billion for the stake.

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