BP has agreed to sell a 65% stake in its Castrol lubricants business to U.S. investment firm Stonepeak for about $6 billion, a significant step in the oil major’s $20 billion divestment plan aimed at cutting debt and...
Stonepeak, CPPIB look to buy Castrol India shares at premium following BP deal
Canada Pension Plan Investment Board and U.S. private equity firm Stonepeak will launch an offer to purchase a stake of up to 26% in Castrol’s Indian unit, they said on Wednesday, following their deal to acquire...
BP nears sale of majority Castrol stake to Stonepeak, WSJ reports
BP is nearing a sale of a majority stake in Castrol to investment firm Stonepeak in a deal that values the oil major’s lubricants unit at $10 billion, including debt, the Wall Street Journal reported on Tuesday...
Russia’s Lukoil accepts Gunvor offer to buy its foreign assets
Lukoil said on Thursday it had accepted an offer from global commodity trader Gunvor to buy its foreign assets, which Russia’s second-largest oil company is seeking to sell after Washington imposed sanctions on it...
Maithan Alloys acquires minority stake in GAIL (India) for Rs 12 cr
Maithan Alloys said that it has acquired a 0.01% stake in GAIL (India) for total consideration of Rs 12.36 crore via stock exchange. The company has acquired 6,25,000 shares through stock exchange with view to reap the...
ONEOK buys remaining stake in Delaware Basin JV for $940 million
U.S. pipeline operator ONEOK (OKE.N) said on Tuesday that it had bought the remaining stake in Delaware Basin JV from NGP XI Midstream Holdings in a cash-and-stock deal valued at $940 million. By acquiring the remaining...
Shell-BP merger’s key ingredient is time
Wael Sawan must feel like it’s Groundhog Day. In recent weeks Shell’s (SHEL.L) chief executive has been fielding one question over and over again: whether he’s considering merging his $198 billion group with struggling...
Shell to buy TotalEnergies’ stake in Nigeria deepwater field for $510 million
TotalEnergies has signed an agreement with Shell to sell its 12.5% interest in the Bonga oil field, offshore Nigeria, for $510 million. The OML118 Production Sharing Contract (PSC) is located deep offshore at ~74 mi...
ExxonMobil to sell French subsidiary Esso to Canadian energy group
With the exception of those part of the previously announced redundancy plan, all of the approximately 1,350 employees in France will be retained and remain on the same employment terms and conditions. The acquisition...
Repsol, NEO Energy agree to merge North Sea operations
Spanish oil company Repsol and private equity-backed NEO Energy have agreed to merge their UK North Sea oil and gas businesses to create a joint venture with output of around 130,000 barrels of oil equivalent per day...
Indonesia’s Pertamina to buy 20% stake in Philippine’s Citicore Renewables for $115 million
Philippines-based Citicore Renewable Energy on Friday said Indonesian state-owned oil firm Pertamina will buy a 20% stake in the pure-play renewable energy company for 6.70 billion pesos ($114.8 million). PT Pertamina...
Japan’s Japex seeks UK North Sea exit with oilfield stake sale
Japan Petroleum Exploration (Japex) is seeking buyers for its stake in an oilfield in the British North Sea, the latest in a string of exits from the ageing basin as companies face growing uncertainty over government...
