Stokes empire eyes energy sector
Seven Group Holdings, well known for its significant media interests and its lucrative WesTrac mining and construction business, has made a takeover play for Nexus Energy to dive into the oil and gas services market.
"There's been a desire to build a third arm and the energy sector is a sector that we naturally like," SGH chief operating officer Ryan Stokes - the son of SGH executive chairman and billionaire Kerry - told the Australian Financial Review.
Former Woodside boss Don Voelte is also the managing director and CEO of SGH and he made a surprise resignation as Nexus' chairman in February.
"The document relating to the $26 million takeover, being supported by the remaining Nexus directors, details how Voelte tiptoed around a minefield of conflicts," the Sydney Morning Herald commented this week.
Oil facility bombing in Nigeria
Nigerian suicide bombers reportedly killed 15 civilians, injuring 17 more as well as five soldiers, in an eight-vehicle attack on a Nigeria National Petroleum Corporation facility at Mule on Tuesday.
According to Reuters, soldiers at a checkpoint foiled the bombing mission by opening fire on four explosive-packed vehicles, with the four bombers driving them killed.
"Three of the four explosive-laden vehicles were demobilised by shots fired at them by soldiers at the checkpoint, shortly before the explosions that rocked the area," Defence Ministry spokesman Chris Olukolade reportedly said.
US warns South Sudan
US President Barack Obama has signed an executive order that gives his government the power to levy sanctions, possible visa bans and asset freezes for individuals suspected of stoking violence.
"Both the government of South Sudan and Riek Machar's rebels must immediately engage in and follow through on the inclusive peace process led by the Intergovernmental Authority on Development and resolve this conflict," the White House stated.
Rebel leader Machar is planning an offensive against the nation's Upper Nile oil operations, which give cash flow to the South Sudan government.
