OMV said it is selling its UK business to Siccar Point Energy for up to $1 billion, putting an end to the Austrian oil and gas group’s exploration activities in Britain as it seeks to escape high costs in areas...
Exxon’s bid for InterOil in doubt after Canadian court ruling
InterOil Corp (IOC.N) said on Friday an appeals court in Canada had overturned approval of the natural gas producer’s $2.5 billion sales to Exxon Mobil Corp (XOM.N), throwing the deal’s viability in doubt...
Rosneft may sign deal to sell stake in Verkhnechonskneftegaz to Beijing Enterprises: agencies
Russia’s Rosneft might sign an agreement next week to sell a 20 percent stake in Verkhnechonskneftegaz, a subsidiary of Rosneft, to Beijing Enterprises Group Company Limited BEGRP.UL, Russian news agencies...
GSPC may hive off Deen Dayal field to ONGC to avoid loan default
Gujarat government-owned company Gujarat State Petroleum Corporation (GSPC) may hive off the Deen Dayal field in the Krishna-Godavari basin (KG basin) into a separate asset if state-run Oil and Natural Gas Corporation...
OVL completes acquisition of 11% additional stake in Vankor
“We raised a bridge loan of $ 930 million from overseas lenders to pay for the acquisition cost of 11 per cent stake,” OVLCEO and Managing Director Narendra K Verma said here. OVL, which had previously...
Cairn India to invest $100 mn in Rajasthan gas fields
Cairn India, the Vedanta group company, would be investing $100 million (Rs 67,000 crore) this year, with a focus on its Rajasthan gas fields. The capital investment is estimated for this financial year, with 80 percent...
Shell sells non-core Canadian oil and gas assets for $1 billion
Royal Dutch Shell Plc (RDSa.L) said on Thursday it is selling $1.03 billion worth of non-core oil and gas properties in western Canada to Tourmaline Oil Corp (TOU.TO), the latest example of the global oil major trimming...
Will Rosneft deal benefit Essar Oil shareholders?
After PJSC Rosneft Oil Co.-led consortium’s deal to buy 98% of Essar Oil, the lens shifts to whether minority investors of the Indian firm will gain from this transaction. In December, these shareholders had tendered...
OVL to raise $900 mn bridge loan to finance Vankor buy.
ONGC Videsh Ltd (OVL) will raise a bridge loan of close to $900 million overseas to fund an acquisition of an additional 11 percent stake in Russia’s Vankor oilfield. OVL, the overseas arm of state-owned Oil and...
ONGC to pick stake in Gujarat State Petroleum Corp’s KG basin block
NEW DELHI: ONGCBSE 0.37 % has signed a preliminary pact to acquire a stake and operate the KG Basin block of Gujarat State Petroleum Corp. (GSPC), which had announced a major natural gas discovery and spent $3 billion...
United Hunter Oil And Gas announces operational update on its joint venture with Excelaron LLC
United Hunter Oil & Gas Corp * United Hunter Oil And Gas Corp. announces operational update on its joint venture with Excelaron LLC * Management of Excelaron LLC elected to dissolve company * It has been decided to...
ONGC Board approves pact to take stake in GSPC gas block
NEW DELHI: The Board of state-ownedONGCBSE -0.50 % has approved the signing of a preliminary agreement for buying a stake in Gujarat government firm GSPC‘s KG basin gas block. The Board of Oil and Natural GasBSE ...
