O.G. Oil & Gas Ltd’s Singapore unit intends to buy a 65.7 percent stake in New Zealand Oil & Gas Ltd, it said in a notice on Sunday. New Zealand Oil & Gas already had a partial offer from rival Zeta Energy...
BPCL eyes government stake in GAIL India for Rs18,000-20,000 crore
State-run Bharat Petroleum Corp. Ltd (BPCL) is in talks with the country’s largest natural gas transporter GAIL (India) Ltd to acquire the government’s majority stake in it for Rs18,000-20,000 crore. Three people with...
HPCL Eyes Rs 61,000 crore Capex in 5 Years, Merging MRPL with Self
Hindustan PetroleumBSE 0.51 % Corporation plans to invest Rs 61,000 crore in five years ending 2022 to scale up its refining and marketing operations. The state-run oil marketing company plans to invest Rs 7,110 crore...
ADNOC could list stake in fuel retail business in early 2018 – sources
Abu Dhabi National Oil Co (ADNOC) could list more than 10 percent of its fuel retail business by early 2018 and one or two more businesses later as part of a major shake-up, sources familiar with the matter said. The...
Statoil says oilfield deal with Rosneft complies with sanctions
Norway’s Statoil (STL.OL) said on Thursday its cooperation with Russia’s Rosneft (ROSN.MM) in developing the onshore North Komsomolskoye oilfield was compliant with European Union and U.S. sanctions imposed on Russia...
Essar Oil to invest $250 mn in Stanlow refinery
Essar Oil UK looks to invest $250 million in its Stanlow refinery to increase production, improve focus on high-value products and expand its crude oil sourcing basket to save costs and improve margins. “Essar...
India rejects Russia’s stake sale offer in five more Siberia oilfields
India has rejected Russia’s offer of stake in five more oilfields in the Vankor Cluster in Siberia as it doesn’t want to concentrate its upstream investments in just one country, people with direct knowledge of the...
Brazil’s Petrobras to sell 90 percent of natural gas transport unit
Brazil state-controlled oil firm Petrobras said in a stock exchange filing on Tuesday that it will sell a 90-percent stake in its wholly owned subsidiary Transportadora Associada de Gas SA (TAG). TAG, a unit for...
Russia’s Rosneft, China’s CEFC agree joint exploration in Siberia
Russian oil major Rosneft said on Sunday it signed a cooperation agreement with CEFC China Energy Company for joint exploration in Siberia. The agreement also makes provision for “joint activity in such areas as...
JM Financial to advise government on HPCL stake sale to ONGC
JM FinancialBSE -1.34 % has been appointed as the transaction advisor to the government’s over Rs 37,000 crore stake sale in HPCLBSE -0.55 % to ONGCBSE 0.25 %. Besides, Cyril Amarchand Mangaldas has been selected...
Trading firm Noble seen picking oil unit buyer in September: sources
Trader Noble Group is expected to pick a buyer for its oil and liquefied natural gas (LNG) units by mid-September to cover debts and reduce credit exposure after a first half loss of $1.9 billion, sources familiar with...
Russia’s Lukoil considers selling Swiss trader Litasco
Russian oil major Lukoil is considering selling its Swiss unit Litasco because new U.S. sanctions on Russia will make it harder for the Geneva-based energy trader to raise new funds, industry sources said. Lukoil’s...
