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Osum Oil Sands closes $500M private placement; new investors include government of Singapore

Green Car Congress

Canada-based Osum Oil Sands Corp. The new shareholder group was led by KERN Partners and included Government of Singapore Investment Corporation (GIC) and two large Canadian institutional investors, while existing major shareholders Warburg Pincus LLC and Blackstone Capital Partners participated for a significant portion of the financing.

Oil-Sands 210
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Chinas CNOOC to acquire Canadian oil sands producer OPTI for $2.1B

Green Car Congress

an indirect wholly-owned subsidiary of CNOOC, will acquire oil sands producer OPTI Canada Inc for approximately US$2.1 The transaction will be effected by way of a plan of arrangement through concurrent proceedings under the Companies’ Creditors Arrangement Act (Canada) and the Canada Business Corporations Act.

Oil-Sands 218
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Sinopec buying Canadian oil and natural gas producer for C$2.2B; Duvernay shale play

Green Car Congress

China’s Sinopec International Petroleum Exploration and Production Corporation will purchase of all of the issued and outstanding common shares of Daylight Energy Ltd., a Canadian intermediate oil and liquids-rich natural gas producing company with a suite of resource assets in Western Canada, for approximately C$2.2

Oil 170
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Avis Budget group to acquire car-sharing company Zipcar in cash deal for approximately $500 million

Green Car Congress

Zipcar now has more than 760,000 members (“Zipsters”), with a market-leading presence in 20 major metropolitan areas in the United States, Canada and Europe, and fleet positioned at more than 300 college and university campuses. Morgan Stanley is acting as financial advisor, and Latham & Watkins LLP is acting as legal counsel, to Zipcar.

Companies 218
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Marathon acquires additional Eagle Ford Shale assets for $3.5B

Green Car Congress

Marathon Oil Corporation has reached a definitive agreement with Hilcorp Resources Holdings, LP to purchase its assets in the core of the Eagle Ford shale formation in Texas in a transaction valued at $3.5 The legal advisor to Marathon for this transaction is Baker Botts and the financial advisor is Barclays Capital.

Ford 210
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Study concludes that automakers tweak vehicle fuel economy to qualify for more favorable treatment; focus on car notches

Green Car Congress

Slemrod and Sallee studied the behavioral responses to the US Gas Guzzler Tax of 1978, which penalizes cars with low fuel economy, and the Canadian “feebate” program of 2007, a set of taxes and rebates that together act to encourage the purchase of more fuel-efficient vehicles. All of this behavior is perfectly legal, they add.

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EPA Administrator broadly outlines Trump Administration thinking on fuel economy standards and California

Green Car Congress

In August 2018, EPA and US Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) released a notice of proposed rulemaking (NPRM) to adjust the Congressionally-mandated Corporate Average Fuel Economy (CAFE) and Light-Duty Vehicle Greenhouse Gas Emissions Standards. Purchasing. Earlier post.).