Anadarko Sells Assets to ONGC

Written By Jason Stutman

Posted August 26, 2013

Anadarko Sells Assets to ONGC

India’s Oil and Natural Gas Corporation (ONGC.NS) has purchased a 10 percent stake in Anadarko Petroleum Corporation’s (NYSE: APC) African offshore gasfield for $2.64 billion. The deal leaves Anadarko as operator and with a 26.5 percent stake. According to ONGC, the purchase includes stake in the Area 1 field in Mozambique, which could end up being one of the most productive liquefied natural gas projects to supply the Indian market. While ONGC gains access to a high potential of production, Anadarko benefits from this deal by minimizing their risk and receiving guaranteed income from the play.

China’s Foreign Energy Dependence

Energy consumption in China is at an all time high. The country’s demand for coal has risen more than 50 percent in the last decade, and accounts for close to half of global consumption. But China’s demand for coal pales in comparison to their demand for natural gas – natural gas consumption in the country has jumped 346 percent since 2002. As demand continues to increase, China is looking to foreign nations for it’s energy dependence, and is already building strong relationships with this Canadian LNG company

Angel Publishing Investor Club Discord - Chat Now

Even Amazon is Investing in Nuclear

Amazon, the global e-commerce powerhouse, is gearing up for a groundbreaking energy revolution. Teaming up with three leading nuclear company, they're making waves with an innovative plan to utilize nuclear energy using Small Nuclear Reactors (SMRs) . The e-commerce giant signed three deals for SMR development in Virginia. We reveal the names and ticker symbol of the company they're partnering with in our FREE report, "Even Amazon Is Investing in Nuclear." This news could make their share price sky rocket at any moment! Sign up below to get your free copy delivered to your inbox right away.

Sign up to receive your free report. After signing up, you'll begin receiving the Energy and Capital e-letter daily.