Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Egypt Post launches 'Felousy' as first digital investment platform for funds in Egypt    Khalda Petroleum announces new gas discovery in Western Desert    SCZONE, Sky Ports sign MoU to develop multi-purpose terminal at Ain Sokhna Port    Kremlin holds out hope for Putin-Trump summit but warns against Western 'war rhetoric'    Bangladesh court sentences former PM Sheikh Hasina to death in absentia    'We have nothing to hide': Trump urges GOP to release Jeffrey Epstein files    Egypt's childhood council discusses national nursery survey results    Egypt signs cooperation agreement to enhance waste management in North Sinai    Gold prices in Egypt slip on Monday, 17 Nov., 2025    Egyptian pound inches higher against dollar in early Monday trading    Oil prices fall on Monday    Beauty for Better Life empowers 1,000 women in Egypt over three years    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Cairo hosts African Union's 5th Awareness Week on Post-Conflict Reconstruction on 19 Nov.    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt's Al-Sisi ratifies new criminal procedures law after parliament amends it    Egypt adds trachoma elimination to health success track record: WHO    Egypt, Latvia sign healthcare MoU during PHDC'25    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    Egyptians vote in 1st stage of lower house of parliament elections    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Sisi meets Russian security chief to discuss Gaza ceasefire, trade, nuclear projects    Egypt repatriates 36 smuggled ancient artefacts from the US    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt will never relinquish historical Nile water rights, PM says    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



UK forces sale of Russian billionaire's North Sea fields
Reuters Published in Ahram Online on 20 - 04 - 2015

Britain's energy minister has decided to force Russian billionaire Mikhail Fridman to sell North Sea gas fields he recently acquired as part of a $5.4 billion takeover deal of DEA, the former oil and gas unit of Germany's RWE.
The decision comes two weeks ahead of a general election in Britain and further sours Britain's relations with Russia in light of Western sanctions over Russia's involvement in Ukraine.
"The Secretary of State Ed Davey ... proposes to revoke DEA UK's North Sea petroleum licences unless LetterOne arranges for a further change of control of the DEA UK gas fields in the North Sea," the ministry said in a statement.
LetterOne has up to six months to make a change in ownership, the ministry added.
The company was not immediately available for comment.
The decision comes weeks after the British government first announced its objections to LetterOne's ownership of North Sea assets, saying it was concerned energy production from the fields could be interrupted if sanctions against Russia were extended.
http://english.ahram.org.eg/News/128199.aspx

Clic here to read the story from its source.