British supermarket Asda said it would buy the bulk of petrol station operator EG Group’s UK and Ireland business to speed up its move into the convenience sector, creating a company with combined revenue of...
Indian state oil companies in talks to buy stake in Tullow’s Kenya block: Oil India
Indian state-run oil exploration companies are in talks with Tullow Oil to buy a stake in the London-based firm’s block in Kenya, Oil India Chairman Ranjit Rath said. Oil India, along with ONGC Videsh, the...
Oil Ministry working on proposal to merge MRPL with HPCL
The oil ministry is drawing up a proposal to merge Mangalore Refinery and Petrochemicals Ltd (MRPL) into Hindustan Petroleum Corp Ltd (HPCL), the two listed subsidiaries of Oil and Natural Gas Corp (ONGC), according to...
Chevron to boost U.S. presence with $7.6 billion PDC Energy buy
Chevron Corp said it is increasing its U.S. oil and gas footprint by acquiring shale producer PDC Energy Inc in a stock-and-debt transaction worth $7.6 billion. For Chevron, the second-largest U.S. oil firm, the deal...
Sterling Oil admitted for bankruptcy
The bankruptcy court has admitted Sterling Oil Resources Ltd under the corporate insolvency resolution process following a plea by its financial creditor, State Bank of India (SBI). SBI had moved the bankruptcy court...
Mubadala, others eye stake in I Squared’s India gas business
Mubadala Investment, sovereign wealth fund of the United Arab Emirates, and a couple of Japanese investors including Sumitomo are in the race to acquire a 30% stake in Indian natural gas distribution business of I...
Russia’s Lukoil completes sale of ISAB oil refinery in Italy
Russia’s second-largest oil producer Lukoil said its subsidiary LITASCO had completed the sale of the ISAB oil refinery in Sicily to Cypriot private equity firm G.O.I. Energy following approval by Italian...
Brazil’s Petrobras to keep stake in Colombia’s deepwater block Tayrona
Brazil’s state-controlled oil company Petrobras has abandoned a plan to sell its 44% stake in a promising offshore gas project it shares with Colombia’s Ecopetrol in the Andean country, a Petrobras executive...
Russia’s Novatek to acquire Shell’s stake in Sakhalin-2 for $1.16 bln
Russia’s government has approved the sale of Shell’s former 27.5% stake in the Sakhalin-2 energy project to Russian energy firm Novatek for 94.8 billion roubles ($1.16 billion), a government order showed on...
ONGC increases stake in Mangalore SEZ to 49%
State-owned Oil and Natural Gas Corporation (ONGC) said that it has bought 11,520,000 shares of Mangalore SEZ Limited from IL&FS. The company in its regulatory filing said it has acquired 1,1520,000 equity shares of...
Exxon eyes potential purchase of shale driller Pioneer -WSJ
Exxon Mobil Corp has held preliminary talks with Pioneer Natural Resources Co about a possible acquisition of the U.S. shale oil producer, the Wall Street Journal reported, citing people familiar with the matter...
Buyout firm EnCap eyes nearly $3 bln of Permian asset sales -sources
EnCap Investments is exploring the sale of two Permian basin-focused oil and gas producers that could collectively fetch the private equity firm nearly $3 billion, people familiar with the matter said on Thursday...
