A holding company model will be much easier and low in risk to implement. The proposal is yet to reach the petroleum ministry. The Cabinet Secretariat’s proposal to merge 13 oil PSUs into one behemoth is unlikely to...
Lucas Energy anticipates by end of Q2, it will close its pending acquisition of assets from various sellers
Lucas Energy Inc * Says anticipates that by end of its q2 of fiscal 2017, it will close its pending acquisition of assets from various sellers * Operating undergoing concern since December 31, 2014, which corresponded...
Vedanta-Cairn merger offer sweetened for shareholders’ nod
MUMBAI: Vedanta and Cairn India have sweetened the deal for shareholders to make way for the merger of the latter with the parent company which has faced delays due to key shareholders expressing concerns over the...
IOC in talks to buy GSPC’s stake in Mundra LNG terminal
NEW DELHI: Indian Oil CorporationBSE 4.06 % (IOC) is in talks to buy debt-laden Gujarat State Petroleum Corp’s (GPSC) stake in the under-construction Rs 4,500 crore Mundra LNG import terminal in Gujarat. GSPC is...
Petrofrontier announces closing of major resource property acquisition in Alberta
Petrofrontier Corp : * Petrofrontier corp. Announces closing of major resource property acquisition in Alberta * Says Robert J. Iverach will continue as chief executive officer and Robert Gillies will continue as chief...
ONGC should merge with a refiner like Indian Oil: Director
NEW DELHI: Oil and Natural Gas CorporationBSE 0.07 % should merge with a refining corporation such as Indian OilBSE 0.27 %, Bharat PetroleumBSE -0.69 % or Hindustan PetroleumBSE -0.05 % to weather price volatility...
OVL raises $1 billion through dollar bonds for Vankor stake buy
NEW DELHI: ONGC Videsh Ltd has raised $1 billion through a US dollar bonds issue to finance its acquisition of 15 percent stake in Russia’s second biggest oil field Vankor. OVL, the overseas arm of state-owned Oil...
Cairn India says working on merger with Vedanta; aim to quadruple gas output
MUMBAI: Cairn IndiaBSE 2.58 % is working on the merger of the company with its parent Vedanta, even as it awaits a green signal from key shareholder Life Insurance Corporation of India, the company’s chairman told...
ONGC to buy into Adani-Welspun’s oil block off Mumbai coast
Pact will help ONGC establish continuity among three of its other blocks located in the same region. State-owned oil and natural gas explorer Oil and Natural Gas Corp. Ltd (ONGC) is in talks with Adani-Welspun...
Russia offers Indian firms stake in Yamal LNG project
Russia has offered Indian oil companies a stake in the second phase of Yamal LNG, the biggest project to produce liquefied natural gas in the Arctic. The offer of stake in JSC Yamal LNG was made when Oil Minister...
Trafigura in talks to buy minority stake in Essar Oil
Trafigura Group Pte is in talks to acquire a minority stake in Essar Oil Ltd, India’s second-largest private refiner, in a deal that could value the business at about $6.5 billion, people with knowledge of the matter...
Ruias plan to sell another 25% stake in Essar Oil
NEW DELHI: After stitching a deal to sell 49 per cent stake in Essar OilBSE -0.15 % to Russia’s Rosneft, the Ruia family is looking at selling another 25 percent stake in the company to an oil trader or a...
