Gujarat State Petroleum Corp. Ltd (GSPC) has revived its plan to sell stakes in 20 of its onshore oil and gas blocks, two people aware of the development said. The Gujarat government owned company had decided to sell...
Petronet eyes 26 per cent stake in IOC’s LNG terminal at Ennore
India’s largest importer of liquefied natural gas, Petronet has initiated talks for buying 26 per cent stake in Indian OilBSE -0.99 % Corp’s under-construction 5 million tonne LNG terminal at Ennore, its...
Govt denies conflict waiver for investment bankers in ONGC-HPCL deal
The Central government has not given investment bankers applying to manage the proposed merger of Oil and Natural Gas Corporation (ONGC) and Hindustan Petroleum Corporation (HPCL) a waiver from the ‘conflict of...
Dilip Shanghvi’s oil firm may buy GSPC’s Hazira field
Billionaire Dilip Shanghvi’s Sun Oil and Natural Gas is close to acquiring state-run Gujarat State Petroleum Corp.’s (GSPC) 66.67% stake in the Hazira gas field located in the Cambay basin in Gujarat, two people aware...
Pawan Hans employee union urges PMO to merge company with ONGC
Pawan Hans could be merged with state-owned ONGC or made its subsidiary, a section of employees at the helicopter service provider has suggested even as they opposed the government’s disinvestment plan. The...
ONGC completes Rs 7,700 crore acquisition of GSPC
India’s largest oil and gas producer ONGCBSE 0.39 % said today it has completed the Rs 7,738 crore acquisition of 80 per cent stake in Gujarat State Petroleum Corp’s KG basin gas block. State-owned Oil and...
Indian Oil to buy 50% stake in Adani-Gujarat State Petroleum’s LNG terminal at Mundra
Indian Oil Corp had decided to buy up to 50% stake in a Rs 5000-crore liquefied natural gas (LNG) terminal being jointly set up Adani EnterprisesBSE 0.00 % and Gujarat State Petroleum Corp (GSPC) at Mundra, Gujarat...
HPCL aims to buy US oil in next few months
Hindustan Petroleum Corp plans to buy low-sulphur oil from the United States in the next few months for its 166,000 barrel per day (bpd) Vizag refinery in southern India, company executives said on Friday. “We are...
Energy Transfer to sell stake in Rover pipeline entity to Blackstone
Energy Transfer Partners L.P. (ETP.N) said on Monday it would sell a 32.44 percent stake in a firm associated with the Rover pipeline project to Blackstone funds for about $1.57 billion. The 700-mile Rover pipeline, the...
ONGC wins government nod for Rs 7,738 crore GSPC stake buy
State-owned Oil and Natural Gas Corp (ONGCBSE 0.76 %) has won government approval for acquisition of Gujarat State Petroleum Corp’s entire 80 per cent holding in a KG basin gas block for Rs 7,738 crore, the...
Ruias strike complex royalty deal with new owners of Essar Oil
The Ruias have struck a complex royalty deal with the Russian government-owned company Rosneft and other investors that would acquire Essar Oil. The Ruias, as per the arrangement, would receive royalty as the new owners...
‘IOC, GAIL stake sale to buy HPCL won’t change ONGC metrics’
ONGCBSE 0.27 %’s financial ratios will remain largely unchanged if it funds the Rs 28,000 crore acquisition of HPCLBSE -0.08 % through sale of its minority stake in IOC and GAILBSE 2.67 %, S&P Global Ratings...
