SK Innovation, parent of South Korea’s largest oil refiner and battery maker SK On, said on Wednesday it will merge with energy affiliate SK E&S as the nation’s No. 2 conglomerate undertakes a major...
TotalEnergies sells Nigerian onshore oil assets to Chappal Energies for $860 mln
TotalEnergies has sold its minority share in a major Nigerian onshore oil joint venture to Mauritius-based Chappal Energies for $860 million, the French energy group said on Wednesday. CEO Patrick Pouyanne said in...
Repsol in talks to merge UK North Sea operations with NEO, sources say
Spain’s Repsol is in talks to merge its UK North Sea oil and gas business with private equity-backed NEO Energy, three industry sources said, the latest consolidation effort by companies that operate in the basin...
Aramco to buy 10% stake in Renault-Geely thermal engines venture
Oil producer Saudi Aramco will buy a 10% stake in a thermal engines joint venture between French carmaker Renault and Chinese automaker Geely, the companies said on Friday, valuing the business at 7.40 billion euros ($7...
BPCL subsidiary gets NCLT nod to take over Videocon Oil
A Mumbai bankruptcy court has approved a debt resolution plan given by Bharat PetroResources Ltd, a subsidiary of Bharat Petroleum Corp (BPCL) to take over Videocon Oil Ventures, upholding Bharat Petro’s right to...
SM Energy to buy XCL’s Uinta assets for $2 bln, shares slump
SM Energy said on Thursday it had agreed to buy some shale assets of oil and gas producer XCL Resources for about $2 billion, extending its footprint in the Uinta region in Utah, sending its shares down 10%. XCL, backed...
After 7 years and $1.2 bn investment, ONGC offers stake in Deen Dayal gas field
After spending close to USD 1.2 billion and seven years of little success, state-owned Oil and Natural Gas Corporation (ONGC) is seeking partners to rescue the Deen Dayal gas field in the KG basin in Bay of Bengal. ONGC...
Gabon completes acquisition of Carlyle’s Assala Energy
Carlyle Group said on Friday that it had completed the sale of its oil and gas company Assala Energy to Gabon’s national oil company. Gabon Oil Company (GOC) agreed to acquire Assala Energy in February after it...
BP to buy out Bunge’s stake in Brazilian biofuels JV in $1.4 bln deal
BP has agreed to buy grain trader Bunge’s 50% stake in Brazilian sugar and ethanol joint venture BP Bunge Bioenergia for $1.4 billion in a bet on growing demand for low-carbon biofuels. Following the completion of...
South Korea’s SK Innovation and SK E&S to pursue merger, newspaper says
South Korea’s SK Innovation, parent of the country’s largest oil refiner and battery maker SK On, is expected to pursue a merger with energy affiliate SK E&S, resulting in a 106 trillion won ($76.81...
Shell to acquire Singaporean LNG firm Pavilion Energy from Temasek
Shell has agreed to buy Singaporean liquefied natural gas (LNG) company Pavilion Energy from global investment company Temasek in a move the oil major said will strengthen its leadership position in LNG, according to...
New govt not in favour to sell stake in OMCs, says Oil Minister Puri
The Centre is not in favour of divesting the government’s stake in oil marketing companies, said Oil Minister Hardeep Singh Puri on Tuesday. In addition, the Centre will make efforts to bring petrol, diesel and...
