In a busy start of the week for energy deals, offshore drilling company Ensco (ESV) announced it would buy Rowan (RDC) while Baker Hughes (BHGE) bought a stake in an Abu Dhabi oil company Monday. The deal will expand Ensco's operations in the Middle East via the ARO Drilling joint venture, Rowan's partnership with Saudi Arabia's state run oil company, Saudi Aramco. Baker Hughes Buys Abu Dhabi Oil StakeBaker Hughes became the first foreign company to take a state in an Abu Dhabi National Oil Company service company Monday. Baker Hughes stock fell 0.2% to 31.85. Eni Buys Libyan Oil StakeItaly's Eni announced it would buy 42.5% of BP's 85% stake in a Libyan oil and gas license.
Source: The North Africa Journal October 08, 2018 13:29 UTC