Adani Group has offered 49 per cent stake in its Rs 5,000-crore Dhamra LNG project in Odisha to state-run gas utility GAIL India and refiner Indian Oil Corporation (IOC). Adani has formally written to the two state...
ONGC’s $1.3 billion Vankor stake purchase gets Russia nod
The Russian government has approved a deal for Oil and Natural gas Corp. Ltd (ONGC) to acquire a 15% stake in the Vankor oilfield for $1.3 billion from Rosneft, the Interfax news agency reported on Thursday citing Anti...
Canada’s Bankers Petroleum agrees to takeover by Chinese firm
Canada’s Bankers Petroleum Ltd , one of Albania’s largest foreign investors, said on Sunday it has agreed to be acquired by affiliates of China’s Geo-Jade Petroleum Corp for C$575 million ($442.34...
Rosneft may buy 49% of Essar Oil; talks on with trading cos to sell 25% more.
The Ruias are planning to sell up to a 74% stake in Essar Oil in a multi-stage transaction, as they seek to reduce the debt burden of the group. In addition to the 49% stake that they are in discussions to sell to...
Saudi Aramco, Shell plan to break up Motiva, divide up assets
Royal Dutch Shell (RDSa.L) and Saudi Aramco announced plans on Wednesday to break up Motiva Enterprises LLC in a deal that ends a partnership of nearly two decades and hands control of the biggest U.S. refinery to the...
Rosneft to buy 49% stake in Essar Oil
Russian state-owned petroleum explorer and the world’s largest publicly traded oil company Rosneft is all set to purchase 49 per cent stake in India’s private sector oil refiner Essar Oil, promoted by the...
Shell to sell India assets
Royal Dutch Shell Plc is lining up assets for a $30 billion divestment program that may extend from the U.S. and Trinidad to India following its record takeover of BG Group Plc, according to people with knowledge of the...
L&T arm inks pact with McDermott for subsea oil projects.
The hydrocarbon engineering arm of L&T has signed a long-term agreement with McDermott International for subsea projects in deepwater segment in the east coast of India. L&T Hydrocarbon Engineering Ltd (LTHE)...
India’s ONGC $500 mln San Cristobal investment deal imminent
Venezuela’s state oil company PDVSA is about to clinch a deal for India’s Oil and Natural Gas Corp to invest some $500 million in their San Cristobal joint venture, the South American company’s...
GSPL buys 27.43% stake in Sabarmati Gas for Rs 56.23 crore>
Gujarat State Petronet Ltd (GSPL) today said it has bought 27.43 per cent stake in Sabarmati Gas Ltd from financial institutions for Rs 56.23 crore. Sabarmati Gas Ltd (SGL) is a joint venture of Bharat Petroleum...
IOC may take 40% stake in country’s largest refinery project to come up in Maharashtra.
Indian Oil Corp (IOCL) may take a 40% stake in the country’s largest refinery project slated to come up on the western coast in Maharashtra, while two other state refiners—Bharat Petroleum ( BPCLBSE -2.97 %) and...
Nagarjuna Oil Refinery not to sell Cuddalore oil refinery to Singapore’s Netoil
The proposed move for acquiring Nagarjuna Oil Corporation (NOCL) by Singapore-based Netoil (Singapore) (PTE) Ltd has hit a roadblock as the board of directors of Nagarjuna Oil Refinery Ltd (NORL), which holds 47 per...
