Cenovus Energy Inc said it would buy British oil major BP Plc’s 50% stake in the Sunrise oil sands project in northern Alberta, as the Canadian energy company strengthens its position in the oil sands industry...
Why govt is not sure about the BPCL stake sale this year
The government is unlikely to restart the disinvestment process for Bharat Petroleum Corp. Ltd (BPCL) this year because of the stock market volatility and soaring energy prices, senior officials said. “We’re not sure...
Devon to buy RimRock’s Williston basin assets for $865 mln
Devon Energy Corp said it would acquire the leasehold interest and related assets of RimRock Oil and Gas LP in the Williston Basin in North Dakota for $865 million. RimRock is a portfolio company of funds managed by U.S...
Impact Oil & Gas prepares to sell stake in Namibian offshore block
Impact Oil & Gas is considering selling its 20% stake in a large block in deep water off the coast of Namibia where TotalEnergies made a significant oil discovery this year, four industry sources told Reuters...
Poland’s PKN Orlen, Lotos managements approve merger plan
Poland’s biggest oil refiner PKN Orlen and number two player Grupa Lotos said their management boards had approved plans for a merger first announced in 2018 but delayed by antitrust issues. Both refiners are...
Tullow Oil merges with Capricorn in $827 mln all-share deal
Tullow Oil and Capricorn Energy agreed to merge in an all-stock deal worth 656.9 million pounds ($826.7 million) that will deliver dividends after a payout drought and improve cash flow to allow investment in higher...
RIL, HPCL-Mittal Energy, Jindal group among JBF Petro suitors
Reliance Industries, an HPCL-Lakshmi Mittal joint venture and two Jindal group companies are among seven entities that have shown interest in buying bankrupt JBF Petrochemicals, a purified terephthalic acid (PTA)...
Gail open to buying Russian oil and gas assets: Chairman
Government-owned Gail is open to buying Russian oil and gas assets rejected by the major Western economies after the Kremlin’s invasion of Ukraine. Gail has recorded strong earnings for the quarter ending March...
Govt calls off present EOI process for BPCL divestment
Following the multiple waves of COVID-19 and the current geopolitical strife between Russia and Ukraine, the government has called off the present expression of interest (EoI) process for strategic disinvestment of...
ONGC looks to sell stake to global companies
Oil and Natural Gas Corp (ONGC) is seeking equity partnership with global players that can bring technical expertise as well as financial muscle to help develop two difficult fields off the eastern coast. ONGC has...
Shell in talks with Indian consortium to sell Russian LNG plant stake: Report
Shell is in talks with a consortium of Indian energy companies to sell its stake in a major liquefied natural gas plant in Russia which the British company abandoned following Moscow’s invasion of Ukraine, three...
Saudi Aramco shows interest in buying Valvoline’s commercial unit – sources
Oil giant Saudi Aramco has approached motor oil and lubricant maker Valvoline Inc to buy its segment that caters to commercial customers, sources familiar with the matter told Reuters on Wednesday. Valvoline, which is...
