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US oil and gas producer Occidental Petroleum has revised its proposal to acquire Anadarko Petroleum, offering US$76 per share, including US$59 per share in cash and 0.2934 shares of Occidental common stock per share of Anadarko common stock. Occidental Petroleum also entered into a binding agreement to sell Anadarko’s assets in Algeria, Ghana, Mozambique and South Africa to Total for US$8.8bn, contingent upon Occidental entering into and completing its proposal to acquire Anadarko.. The proceeds of the sale would cover a portion of the cash considerations to fund the proposed acquisition of Anadarko.

In April 2019, global oil and gas company Chevron entered into a definitive agreement with Anadarko Petroleum Corporation to acquire all its outstanding shared in a major stock (75%) and cash (25%) transaction valued at US$33bn ($16.25 in cash and 0.3869 share of Chevron common stock per share of Anadarko common stock). However, in late April 2019, Occidental Petroleum offered US$38 in cash and 0.6094 of a share of Occidental common stock to take over Anadarko, i.e. around US$76 per share of Anadarko, which represents a 23% premium to the US$61.62 per share value of Chevron’s pending offer as of market close on 3 May 2019. Occidental Petroleum has just modified the cash and stock ratio to improve its proposal.

The Iraqi Ministry of Electricity has launched a first-round tender for 755 MW of solar PV capacity that will be built in five provinces. More specifically, the projects entail a 30 MW plant, four 50 MW projects, and two much larger projects, with capacities of 225 MW and 300 MW.

The British Department for Business, Energy and Industrial Strategy (BEIS) has published the final statutory notices required to launch the upcoming third Contract for Difference (CfD) renewable allocation round, which is set to take place in late May 2019.

According to the United States Energy Information Administration (EIA), the United States were a net exporter of natural gas in 2018, which entails both atural gas by pipeline to both Canada and Mexico and LNG shipments to other countries. US net gas exports stood at 4.6 bcf/d (130 mcm/d) in February 2019, the 13th month without interruption of net exports.

China’s Zhejiang Hengyi Group has started trial runs at a new 160,000 bbl/d refinery project located on the Pulau Muara Besar island in Brunei. Commercial operations are expected in the third quarter of 2019. The facility will be supplied with crude oil from Brunei and neighbouring countries, but also with Zafiro crude oil from West Africa during trial runs. …

The government of Pakistan has officially broken ground on the 800 MW Mohmand dam project (previously known as Munda), which will be built on the Swat river (Pakistan) in Khyber Pakhtunkhwa. The PKR309bn (approximately US$2.2bn) project will be commissioned in July 2024 and operated by the state-run power utility Water & Power Development Authority (WAPDA).

The United States Department of Energy (DoE) has allowed Sempra Energy to export 13.5 Mt/year of LNG from its Port Arthur LNG export project in Jefferson County (Texas) to countries that do not have a free-trade agreement (FTA) with the United States.

The second unit of the Novovoronezh-2 nuclear power plant (Novovoronezh II-2) in southwestern Russia has supplied electricity to the domestic power grid for the first time. Commissioning is expected later in 2019.