The government has scrapped the BPCL divestment process as there was just one bidder left in the fray after the two others dropped out due to their inability to tie up funds for the acquisition, said an official...
Oil and Gas
Temasek-backed oil rig builders agree $6.3 bln merger amid sector downturn
Singapore’s Sembcorp Marine (Sembmarine) has agreed to a S$8.7 billion ($6.29 billion) merger with Keppel Corp’s larger offshore and marine unit, a year after the Temasek-backed firms began deal talks amid...
Brazil’s Petrobras sells stake in Deten Quimica for $117 million
Brazil’s Petrobras said on Wednesday its board approved the sale of its 27.88% stake in Deten Quimica SA for 585 million reais ($117.84 million) to Cepsa Quimica SA. The buyer already owns a 69.94% stake in Deten...
PetroRio gives up on selling 10% stake of Manati Field to Gas Bridge
Brazil oil company PetroRio said on Tuesday it has withdrawn from the agreement with Gas Bridge to sell its 10% stake in Manati oil field. In a securities filing, the company said that preconditions were not met within...
Southwest Gas Holdings to consider sale after another acquisition bid
Southwest Gas Holdings Inc said on Monday it would evaluate selling itself, among other alternatives, after an unnamed potential buyer showed interest in acquiring the utility at a price “well in excess” of...
Brazil’s Petrobras starts binding phase for sale of MP Gulf of Mexico stake
Brazil’s Petrobras started the binding phase to sell its subsidiary 20% stake in Texas-based MP Gulf of Mexico LLC, which owns offshore fields in the region. Potential buyers classified for this phase will receive...
Warburg Pincus places RimRock Oil & Gas for sale – sources
Private equity firm Warburg Pincus has placed its portfolio company RimRock Oil & Gas up for sale, three people familiar with the matter said, aiming to take advantage of the upswing in commodity prices to offload...
Govt to sell up to 1.5% stake in ONGC to raise Rs 3,000 cr
The government will this week sell up to 1.5 per cent of its stake in the country’s top oil and gas producer ONGC to raise about Rs 3,000 crore. The Offer For Sale (OFS) by the government will be open on March 30...
HDFC sells over 2% stake in Hindustan Oil Exploration during July-Mar for Rs 61 crore
Country’s largest mortgage lender HDFC Ltd has sold over 28.89 lakh shares held in Hindustan Oil Exploration Ltd (HOEC) during July 2021 to March 2022 for Rs 61 crore. Out of 1,15,72,786 equity shares of Rs 10...
Shell frontrunner in race to acquire Actis’ Sprng Energy
Oil and gas major Royal Dutch Shell has emerged as the frontrunner to acquire Sprng Energy, the Indian renewable platform of Actis, said people aware of the matter. Shell’s offer that was submitted last week, valuing...
Private equity-backed Canadian oil producer Serafina Energy eyes sale -sources
Private equity-backed Canadian heavy oil producer Serafina Energy is looking at a possible sale of the company, figuring that high crude prices will boost its value, sources familiar with the matter told Reuters. The...
Private equity-backed Strathcona buys rival Caltex, Tucker assets
Canadian oil and gas producer Strathcona Resources Ltd said on Monday it has bought rival Caltex Resources Ltd, as it looks to expand its oil-recovery portfolio in Saskatchewan. Oil and gas producers across North...