West Bengal government today decided to enter into a joint venture with the Gas Authority of India Limited to supply natural gas to every household in greater Kolkata. Chief Minister Mamata Banerjee gave her approval to...
Petronet buys 26 percent stake in LNG vessel for Rs 100 crore
Petronet LNG LtdBSE -0.88 %, India’s largest liquefied natural gas importer, has bought a 26 percent stake in the shipping consortium that built its biggest LNG ship to transport gas form from Australia. Petronet...
Statoil, Total SA, Shell eye strategic stake in Amplus Energy
Norway’s Statoil ASA, France’s Total SA and Royal Dutch Shell Plc have shown interest in investing in solar power producer Amplus Energy Solutions Pvt. Ltd, according to two people familiar with the development. “Amplus...
Indian Oil says Chennai Petroleum arm to benefit if merged with parent
State-owned Indian OilBSE -2.45 % Corp would like to merge its subsidiary Chennai Petroleum Corp with itself as part of a government plan to integrate state oil firms to create a national oil behemoth, its chairman said...
Boutique bank Moelis wins advisory role for mammoth Saudi Aramco IPO
New York-based boutique investment bank Moelis & Co (MC.N) has been chosen as an adviser by Saudi Aramco [IPO-ARMO.SE] on its plans for what is expected to be the world’s biggest initial public share offer...
‘Oil firms merger may not be good for consumers, private retailers’
The proposed merger of the state- controlled oil companies, both upstream and downstream, can reduce inefficiencies and improve competitiveness but will be an execution challenge apart from being not so good for...
Government proposes to merge state oil companies to create a $100-billion behemoth
The government has proposed to merge state oil companies to create a behemoth that could top $100 billion in valuation and match global companies in financial heft. The government is considering restructuring central...
SM Energy to sell some Eagle Ford assets for $800 million
U.S. oil and gas producer SM Energy Co (SM.N) said on Tuesday it would sell certain assets in the Eagle Ford shale of South Texas to a unit of KKR (KKR.N) for $800 million. The assets, operated by a third-party, include...
HPCL to invest Rs1,200 crore in city gas distribution business
State-run Hindustan Petroleum Corp. Ltd (HPCL) plans to invest Rs1,200 crore in city gas distribution (CGD) to expand the network and build infrastructure, a company official said. “We would be investing Rs1,200 crore...
SK Innovation to invest up to $2.5 billion in 2017 to boost growth
SK Innovation Co Ltd (096770.KS), which owns South Korea’s top refiner SK Energy, said on Sunday it will spend up to 3 trillion won ($2.49 billion) in chemicals, oil exploration and battery businesses to boost its...
ONGC’s ambitious plans for KG basin block it’s buying from GSPC
State-owned Oil and Natural Gas Corp. has firmed up an ambitious development plan for the eastern offshore block it is buying from Gujarat State Petroleum Corp. (GSPC) for about $1.2 billion, aimed at extracting an...
Israel’s Delek Drilling, Avner Oil approve merger
Israeli conglomerate Delek Group’s gas and oil exploration units, Delek Drilling and Avner Oil Exploration, approved a merger aimed at reducing costs and attracting new investors. Delek Drilling said on Sunday...
