At 7 p.m. on May 22, The Australian posted a story about major oil and gas producers from North America "lining up to buy a stake in the Alaska-based Pikka project" on the market by Santos Ltd.
"In the process of the Moelis-advised competition are understood to be major US energy heavyweights like ConocoPhillips, Exxon and Chevron," the newspaper reported. Moelis is a global investment bank that, among other things, provides investment advice to clients across a wide variety of industries.
The companies are reportedly "rallying to buy" more assets in their own regions only months after fossil fuels were blacklisted by many investors, which The Australian says has changed due to the Russia-Ukraine situation with its threat of a spreading war and the high price of oil and gas.
- KAY CASHMAN
See story in May 29 issue of Petroleum News, available online May 26 at www.PetroleumNews.com.
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