Woodside vetoes Lukoil move to Senegal 

WOODSIDE Petroleum has preempted Cairn Energy’s sale of its 40% share of the offshore Senegal oil project Sangomar to Russia’s Lukoil  and will take the share for itself for a price of US$300 million.

Woodside vetoes Lukoil move to Senegal  Woodside vetoes Lukoil move to Senegal  Woodside vetoes Lukoil move to Senegal  Woodside vetoes Lukoil move to Senegal  Woodside vetoes Lukoil move to Senegal 
It will also reimburse Cairn for its capital spend since January 1, as per its earlier agreement with Lukoil, as well as a payment of up to $100 million linked to oil prices and commodity sales