U.S. oil and gas producer Apache Corp is selling Canadian light oil assets to Canada’s Cardinal Energy Ltd to focus on high-growth areas like the Permian basin shale play, an Apache spokesman said on Thursday. The...
Merger may be preferred route for ONGC, HPCL
The consolidation among public sector oil companies could start with a merger, rather than a takeover. Senior government officials say a merger or an amalgamation could obviate the need for an open offer to buy equity...
Hedge fund Corvex urges Energen to consider sale
Hedge fund Corvex Management LP on Wednesday reported a 5.5 percent stake in Energen Corp (EGN.N) and called for the possible sale of the oil and gas producer. Energen’s shares were up 3.1 percent at $57.38 in...
Itochu to invest Rs 250 cr in Aegis Logistics’ Haldia LPG terminal project
Japan’s Itochu Corporation, through its subsidiary Itochu Petroleum Co (Singapore) Pte Ltd, will acquire 19.7 percent stake in Hindustan Aegis LPG Company Ltd (HALPG), a wholly-owned subsidiary of Aegis Logistics...
IOC, partners in talks to buy stake in Russia’s Vankor field
State-owned Indian Oil Corp (IOC) and its partners are in talks to buy 49 percent stake in Russia’s Vankor cluster oilfields to consolidate their presence in the energy-rich Arctic region. IOC, Oil India LtdBSE -1...
DONG Energy to sell oil, gas business to Ineos for $1.3 billion
Danish utility and offshore wind farm developer DONG Energy has agreed to sell its oil and gas business to petrochemicals firm Ineos for $1.3 billion, it said on Wednesday, the latest in a string of North Sea deals. The...
Ratnagiri Gas demerger: GAIL to own LNG terminal, NTPC to get power plant
Ratnagiri Gas and Power Pvt. Ltd (RGPPL) in Maharashtra is in the process of a demerger under which the company’s gas import terminal will be majority-owned by GAIL India Ltd and the power plant by NTPC Ltd, a top GAIL...
GAIL India to invest Rs 1,000 crore to help Dabhol LNG terminal operate all year
GAIL IndiaBSE 1.96 % will invest.Rs 1,000 crore on the liquified natural gas terminal at the Ratnagiri Gas and Power Private (RGPPL) to make it an ‘all-weather’ port by 2019, said BC Tripathi, chairman, GAIL. RGPPL, the...
Oil Ministry may block PSUs from buying 10% stake in Petronet LNG
Oil Ministry may block any attempt by state-owned GAIL, IOC, ONGC and BPCL to buy 10 per cent stake of France’s GDF International in Petronet LNG Ltd as it is keen to keep the liquefied natural gas importer a...
IGL plans to buy out JV partners
The sole city gas distributor in India’s capital city is looking to buy out its partners in two joint ventures as it seeks to expand beyond New Delhi and its suburbs. Indraprastha Gas Ltd (IGL), which owns 50 percent in...
Odebrecht O&G nears $5 billion debt restructuring deal -sources
Odebrecht Óleo & Gás SA, the offshore oil drilling firm owned by Brazil’s Odebrecht SA, has obtained support from more than 60 percent of its creditors for a restructuring of about $5 billion in debt, two...
Private equity-backed Neptune agrees to buy Engie oil and gas unit
Neptune Oil & Gas has agreed to acquire a majority stake in French utility Engie’s (ENGIE.PA) exploration and production business for $3.9 billion, the latest private equity-backed firm to enter the...
