Energy Business Rewind: Oil STOPPAGE Off Norway, Cove Energy HUNTED By PTT

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Midnight Monday, Central European Time could see a lockout on the Norwegian continental shelf following the breakdown of strike negotiations on Sunday. The anticipated shutdown would affect all of the approximately 50 firms with production in the area. Among the companies impacted are Statoil (NYSE:STO), Total (NYSE:TOT), ConocoPhillips (NYSE:COP), Royal Dutch Shell (RDS.A), and BP.

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The Thai energy firm PTT extends the deadline for its bid to acquire Cove Energy (CNVGF.PK) until July 13th, since it had received acceptance from only 0.25 percent of Cove’s shareholders at the previous July 6 deadline. PTT is locked in a bidding war with Royal Dutch Shell for control of the Mozambique-focused energy explorer.

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