FT Energy News 2nd November

Lease fears for offshore wind farms (Page 1)

Wind farm operators building offshore risk having their leases terminated without compensation if oil and gas companies decide they need the seabed plot for exploration, drilling or pipelines.

Petronas chemical arm IPO to raise double initial estimate (Page 22)

Petronas, the Malaysian state-owned oil and gas group, is on course to raise $4.8bn from an initial public offering of 35.6% in its newly formed chemicals subsidiary.

India’s ONGC eyes Angolan assets of Exxon and Total (Page 23)

India’s largest oil group is considering acquiring ExxonMobil’s and Total’s oil assets in Angola in a new partnership with the state-run Sonangol oil group. India’s growing dependence on energy imports has led the government to urge state-run groups to make at least one overseas acquisition this year.

Exco Resources chief executive in $4.4bn buy-out move (Page 23)

The chief executive of Exco Resources, the independent oil and gas company, has made a $4.4bn offer to buy the company at a 38% premium to last week’s closing share price. Taking Exco private would constitute a long-term bet on the future of natural gas.

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