Russia’s Mikhail Fridman drops bid for West Texas assets on political concerns

Fridman’s investment company, LetterOne, has pulled out of an U.S. investment to avoid resistance from an unexpected corner — the Trump administration. LetterOne’s L1 Energy unit recently walked away from a deal to buy Texas oil producer ExL Petroleum Management LLC for about $700 million over concerns the plan could be rebuffed by the Committee on Foreign Investment in the U.S., or CFIUS, the government panel that reviews deals for national security risks.


https://www.bloomberg.com/news/articles/2017-06-26/russia-s-alfa-moguls-drop-texas-oil-deal-amid-security-concerns

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Woodside raising $2.5b for LNG expansion

Woodside Petroleum is raising $2.5 billion from shareholders to fund its purchase of an additional stake in Western Australia’s Scarborough gas field and expansion of other gas projects. Woodside will