Oil and Natural Gas Corp (ONGCBSE 0.03 %) will soon seek shareholders’ approval to raise a debt of Rs 25,000 crore to fund the planned acquisition of Hindustan Petroleum Corp (HPCLBSE 0.03 %). The board of ONGC has...
Brazil antitrust body recommends rejection of Petrobras gas unit sale
A body of Brazil’s Cade antitrust watchdog on Monday recommended rejecting the acquisition of a liquefied petroleum gas distribution unit owned by state-controlled oil company Petroleo Brasileiro SA (PETR4.SA) by...
Total deepens North Sea exposure with $7.5 billion Maersk Oil deal
Total (TOTF.PA) is buying Maersk’s oil and gas business in a $7.45 billion deal which the French major said would strengthen its operations in the North Sea and raise its output to 3 million barrels per day by...
ONGC board approves HPCL takeover
The board of state-owned Oil and Natural Gas Corp (ONGCBSE 0.67 %) today gave ‘in-principle’ approval to acquire government’s 51.11 percent stake in Hindustan PetroleumBSE 3.28 % Corp Ltd, the company...
Mega Essar-Rosneft deal cheers lenders, boosts company
Shashi and Ravi Ruia promoted Essar Group has concluded its biggest monetisation exercise by selling flagship Essar OilBSE -0.15 % to Russia’s energy giant Rosneft and partners Trafigura and UCP Investment Group...
Essar, Rosneft complete $12.9-billion deal
Decks have been cleared for the biggest foreign acquisition ever in India. The completion of the $12.9-billion Essar Oil buyout by Russian government-owned Rosneft and other partners is expected to be announced on...
Citigroup tops bank group for Petrobras unit IPO – source
Citigroup Inc (C.N) and seven other banks will underwrite the initial public offering of Petróleo Brasileiro SA’s fuel distribution unit, which will likely occur in November, a person with direct knowledge of the...
China’s CEFC in early talks to buy Rosneft stake – sources
CEFC China Energy, which has grown from a niche oil trader to a sprawling energy conglomerate, is in talks to acquire a stake in Russian state oil giant Rosneft (ROSN.MM), three people with direct knowledge of the...
Japan’s Mitsui OSK Lines eyes 11% stake in Swan LNG project
Mitsui OSK Lines, one of Japan’s biggest shipping companies, is looking to buy as much as 11% stake in a Rs4,000-crore LNG terminal being built by Swan LNG Pvt. Ltd in Gujarat, according to a company proposal and four...
India Power in talks with 3 companies to acquire renewable projects
India Power Corporation is in talks with three large non-power companies in Gujarat and West Bengal for acquiring renewable generation capacity totalling 110 mw, a top official said. “Having successfully acquired 1,000...
Petronas keen to buy stake in IOC’s LNG terminal in Tamil Nadu
Malaysia’s state oil firm Petronas has expressed interest in buying stake in the liquefied natural gas (LNG) import terminal being developed by Indian Oil Corporation (IOC), chairman of IOCBSE 0.88 % has said. IOC is...
Offshore drilling mergers raise hopes for sector recovery
Mergers among offshore oil drillers are raising hopes that consolidation could bring relief to a sector struggling to emerge from an industry downturn triggered by low crude prices. Transocean Ltd, one of the...
