Core Viewpoint - Occidental Petroleum is divesting its chemicals arm OxyChem to Berkshire Hathaway for $9.7 billion to reduce debt after significant acquisitions [1][5]. Group 1: Transaction Details - The sale of OxyChem marks Occidental's largest divestment to date, aimed at slashing its debt load [1]. - OxyChem generated combined revenue of $2.42 billion in the first half of the year, producing chemicals for swimming pools and medical supplies [3]. - The deal is expected to close in the fourth quarter and will be Berkshire's largest acquisition since its $11.6 billion purchase of Alleghany Corporation in 2022 [3][10]. Group 2: Financial Implications - Analysts have expressed concerns that the sale could negatively impact Occidental's free cash flow growth in the coming years, as OxyChem was anticipated to contribute significantly to expansion [2]. - The transaction price of $9.7 billion is viewed as low compared to previous estimates of OxyChem's value at $12 billion [2]. - Occidental plans to use $6.5 billion of the proceeds from the sale to reduce its debt, aiming to bring total principal debt below the $15 billion target set after the CrownRock acquisition [9]. Group 3: Strategic Focus - The divestment indicates Occidental's strategic refocus on its core oil and gas business, which accounted for 75% of its total earnings last year [10]. - CEO Vicki Hollub stated that the sale would enable the company to "unlock 20-plus years of low-cost resource runway" in oil and gas [11]. Group 4: Background Context - Berkshire Hathaway is Occidental's largest shareholder, having begun acquiring a stake in the company in February 2022 [4]. - The divestment follows Occidental's $55 billion acquisition of Anadarko Petroleum, which left the company with significant debt [5][8].

Core Viewpoint - Nigeria has approved TotalEnergies' $510 million divestment of its interest in Oil Mining Lease 118, which includes the Bonga field, to Shell and Nigerian Agip Exploration, as part of TotalEnergies' strategy to streamline its portfolio and reduce debt [1][3]. Group 1: Transaction Details - Shell Nigeria Exploration will acquire 10% of TotalEnergies' 12.5% stake for $408 million, while Agip will take the remaining 2.5% interest for $102 million [2]. - The Nigerian Upstream Petroleum Regulatory Commission confirmed that the approval was granted after both acquiring companies demonstrated financial capacity to meet their commitments [2]. Group 2: Strategic Context - The divestment is part of TotalEnergies' broader program aimed at generating approximately $3.5 billion globally across oil and renewable holdings, as stated by CEO Patrick Pouyanne [3]. - Following the transaction, SNEPCo. will continue as the operator of OML 118 with a controlling 55% stake, while Esso Exploration and Production Nigeria retains its 20% share, and Agip's interest will increase from 12.5% to 15% [3][4]. Group 3: Recent Developments - Earlier in the month, a separate transaction involving TotalEnergies was revoked due to the intended buyer's inability to secure necessary financing [3]. - TotalEnergies has recently signed four production sharing contracts with the Liberia Petroleum Regulatory Agency for offshore exploration blocks, which include a commitment to conduct a 3D seismic survey [4].

Group 1 - HSBC's Sri Lanka branch has signed a binding agreement to transfer its retail banking operations to Nations Trust Bank (NTB), affecting approximately 200,000 customers [1][2] - The deal includes retail deposit accounts, credit card portfolios, and consumer loans, with financial details not disclosed [1][2] - This divestment follows a strategic review by HSBC Group, which determined that exiting the retail unit was the preferred course of action [1][3] Group 2 - NTB will offer employment to staff currently engaged in HSBC Sri Lanka's retail activities, ensuring continuity for employees [2][3] - HSBC's corporate and institutional banking operations in Sri Lanka will remain unchanged, focusing on international corporate clients and cross-border trade [2][3] - The transaction is part of HSBC Group's simplification plan announced in October 2024, allowing the bank to concentrate on areas with competitive focus and growth prospects [2][3][4] Group 3 - The transaction is expected to produce an immaterial pre-tax gain for HSBC Group upon completion, anticipated in the first half of 2026, subject to regulatory clearances [4] - HSBC has previously announced its exit from International Wealth and Premier Banking operations in Bangladesh, following a comprehensive review of its market position [4]

An angry outburst by US Senator Lindsey Graham at Norway’s sovereign wealth fund over its divestment of Caterpillar prompted a response by the Nordic nation’s prime minister https://t.co/0URyhYOnqM ...

Group 1 - The core strategy of AT&T in recent years has been defined by the phrase "Getting back on track" as the company focuses on its core strength in US telecommunications [1] - The divestments of Warner Media and DirecTV between 2021 and 2023 have allowed AT&T to refocus on its primary business operations [1]

Investment Strategy - Norway's 1.9 trillion USD sovereign wealth fund divested from 11 Israeli companies [1] - The fund is terminating all contracts with external managers in Israel [1] Geopolitical Impact - Divestment and contract termination follow public outcry over investments linked to the war in Gaza [1]

Core Viewpoint - BP has indicated a potential turnaround with improved quarterly performance and significant oil and gas discoveries, signaling a shift back to traditional energy sources after years of challenges and executive changes [2][4][5]. Financial Performance - BP reported an adjusted net income of $2.4 billion for Q2 2025, a 14% decrease year-on-year, but exceeding market expectations of $1.7-$1.9 billion [3]. - The company raised its quarterly dividend by 4% to 8.32 cents per share and plans to repurchase $750 million in shares [8]. Strategic Focus - Under CEO Murray Auchincloss, BP is reducing its renewable energy investments and increasing focus on oil and gas, with plans to boost upstream investment by 20% to $10 billion annually through 2027 [5][6]. - The company is conducting a thorough review of its business portfolio to maximize shareholder value and has achieved $1.7 billion of its $4-$5 billion cost-cutting target for 2023-2027 [6][9]. Recent Developments - BP announced its largest oil and gas discovery in 25 years in the Santos basin off Brazil, which is expected to significantly impact the company's future [4]. - The company has completed $3 billion in divestments towards its goal of $3-$4 billion by the end of the current year [9]. Market Position - BP's share price increased by 3.3% since the beginning of the year, but remains down 3.4% on an annualized basis, with 5-year gains at approximately 45% compared to competitors like Shell and ExxonMobil [10][11].

Core Viewpoint - Obsidian Energy has entered into a definitive agreement to sell its common share position in InPlay Oil Corp, consisting of approximately 9.14 million shares, for a total of $91.4 million at a price of $10.00 per share [1][4]. Group 1: Transaction Details - The Disposition Transaction is expected to close in the first half of August 2025, pending customary closing conditions [2]. - The purchase price will be adjusted based on certain filing fees and potential dividends, with specific conditions outlined for adjustments if the transaction closes after August 12, 2025 [3][19]. - Following the transaction, Obsidian Energy will no longer hold any InPlay Shares but will retain 20,834 restricted awards, which represent 0.07% of the outstanding shares [4]. Group 2: Company Background - Obsidian Energy is an intermediate-sized oil and gas producer with a diverse portfolio of assets primarily located in Alberta [9]. - The company focuses on exploring, developing, and holding interests in oil and natural gas properties within the Western Canada Sedimentary Basin [9][10].

Core Viewpoint - Wolters Kluwer has signed a binding agreement to divest its Finance, Risk and Regulatory Reporting (FRR) unit to Regnology Group GmbH for an enterprise value of approximately €450 million, allowing the company to focus on its core banking compliance and corporate legal services [1][2]. Financial Performance - In 2024, the FRR unit generated revenues of €123 million, accounting for about 10% of the total revenues of the FCC division [3]. - Wolters Kluwer reported annual revenues of €5.9 billion for 2024 [5]. Strategic Rationale - The divestment will enable Wolters Kluwer Financial & Corporate Compliance to concentrate on developing its existing positions in U.S. banking compliance and corporate legal and compliance services [2]. - Regnology aims to leverage FRR's expertise to enhance its regulatory and risk solutions, expanding into new territories and accelerating its vision for unified reporting solutions [3]. Transaction Details - The transaction is subject to regulatory approval and employee consultations, with an expected completion date in fall 2025 [3]. - Wolters Kluwer anticipates recording a non-benchmark capital gain upon completion of the divestment [3].

Core Viewpoint - Plains All American Pipeline's stock increased nearly 4% following the announcement of a significant divestment, outperforming the S&P 500 index which remained flat [1] Group 1: Divestment Details - Plains and its majority owner, Plains GP Holdings, finalized agreements to sell "substantially all" of their natural gas liquids (NGL) business [2] - The buyer is Canadian company Keyera, with the transaction valued at approximately 5.15 billion Canadian dollars ($3.79 billion) [4] - The sale is expected to close in the first quarter of 2026, pending regulatory approvals and closing conditions [4] Group 2: Financial Implications - Plains anticipates total proceeds of around $3 billion from the divestment, which includes a potential one-time "special distribution" estimated at $0.35 per unit to common unit holders and shareholders [5] - The special distribution payment is subject to approval by Plains's board of directors [5] Group 3: Strategic Impact - Plains CEO Willie Chiang described the transaction as a "win-win," allowing Plains to exit the Canadian NGL business at an attractive valuation while Keyera gains critical infrastructure [6] - The divestment will provide Plains with significant capital, streamline its operational structure, and enable a greater focus on the crude oil segment [6]