QEP Resources Inc said it would sell its natural gas assets in Wyoming to privately held Pinedale Energy Partners LLC for about $740 million, as the U.S. oil and gas producer focuses on liquids-rich, higher-margin...
Russia, Venezuela discuss Citgo collateral deal to avoid U.S. sanctions: sources
Russia’s top oil producer Rosneft is negotiating to swap its collateral in Venezuelan-owned, U.S.-based refiner Citgo for oilfield stakes and a fuel supply deal – a move to avoid complications from U.S...
FM Arun Jaitley to head panel for ‘quick decisions’ on ONGC-HPCL merger
Union finance minister Arun Jaitley will head a panel that will oversee and speed up Oil and Natural Gas Corporation’s acquisition of Hindustan Petroleum Corporation. Steps will be taken to ensure that the “cultural...
Birth of an oil giant: Six reasons why HPCL-ONGC deal is important
Just a few months after Finance Minister Arun Jaitley announced creating an oil behemoth in his budget speech in February, the Union Cabinet today approved the plan to sell government’s 51 per cent stake in state...
IOC-Oil India merger on the cards
Even as the Union Cabinet is getting all set to bless the mega ONGC-HPCL merger, ET Now exclusively learns that the Narendra Modi government has already zeroed in on another mega transaction between PSUs to create yet...
ONGC may not be required to pay premium for government stake in HPCL
Oil and Natural gas Corp (ONGC) need not pay a premium for government stake in Hindustan Petroleum (HPCLBSE -3.09 %) since the latter is widely traded and fairy valued by the market and the transaction would involve no...
Paramount Resources to buy Apache subsidiary for C$459.5 million
Canadian oil producer Paramount Resources Ltd (POU.TO) said on Thursday that it would buy the Canadian subsidiary of U.S. oil and gas firm Apache Corp (APA.N) for C$459.5 million ($353.7 million USD). The Calgary-based...
HPCL divestment: Cabinet to consider sale of Rs 26k-cr govt stake to ONGC
The Cabinet is likely to consider this month sale of government’s 51 per cent stake in Hindustan Petroleum Corp Ltd (HPCL) to Oil and Natural Gas Corp (ONGC) for over Rs 26,000 crore. The Department of Investment...
Spain’s Gas Natural targets $40 billion EDP merger – sources
Spanish power and gas company Gas Natural (GAS.MC) has approached Portuguese rival EDP (EDP.LS) about merging to form Europe’s fourth biggest utility by market value, people familiar with the matter said on Monday...
OVL buys 30% stake in Namibian oil block from UK’s Tullow Oil
ONGC Videsh Ltd (OVL), the overseas arm of state-owned Oil and Natural Gas Corp. (ONGC), on Monday said it has acquired 30% interest in an oil block, off Namibia, from UK’s Tullow Oil. OVL did not disclose the deal...
HPCL joins talks to buy stake in Russian oil fields
State-owned Hindustan Petroleum Corporation (HPCL) has joined the Indian consortium negotiating buying a 49 percent stake in Russia’s Vankor Cluster oil fields in the Arctic region. Originally, ONGC Videsh Ltd...
EQT to pay $6.7 billion for Rice, creating biggest U.S. natgas producer
U.S. oil and gas company EQT Corp said on Monday it would buy Rice Energy for $6.7 billion, a deal that would create the biggest natural gas producer in the United States. This would be the biggest deal ever for EQT as...
