Mining firm Vedanta Resources Ltd plans to create a $10 billion fund to bid for assets including the Indian government’s stake in Bharat Petroleum Corp Ltd (BPCL), its chairman told Reuters on Thursday. The Indian...
TotalEnergies, Inpex to sell their interests in Block 14 in Angola
France’s TotalEnergies and Japan’s Inpex Corp said that they had agreed to sell their interests in Angola’s Block 14 B.V. to Angolan Company Somoil for an undisclosed sum. Angola Block 14 B.V, which is...
Oil India exits US shale venture, sells 20% stake for $25 million
State-owned Oil India Ltd (OIL) has exited from a US shale oil venture, selling its 20 per cent stake to its venture partner for USD 25 million — the second exit of an Indian firm from the US shale business in two...
Vedanta is willing to spend as much as $12 bn to acquire BPCL
Vedanta Group is willing to spend $12 billion to acquire India’s state-owned refiner Bharat Petroleum Corp., an asset sale that’s among the nation’s biggest and which has faced delays in completion. “We’re not going to...
U.S. oil and gas M&A activity slows in fourth quarter – Enverus
Dealmaking in the U.S. oil and gas industry halved in value in the fourth quarter from the third, with the annual total falling short of the pre-pandemic average, according to data published by analytics firm Enverus on...
Poland refiner PKN to sell Lotos assets to Aramco, MOL to complete takeover
Poland’s largest refiner PKN Orlen said it will sell some Lotos assets to companies including Saudi Aramco and Hungary’s MOL to fulfil EU antitrust rulings and complete its takeover of the smaller firm. PKN...
Reliance Industries should consider de-merger to unlock value
Mukesh Ambani-owned Reliance Industries is rubbing shoulders with the largest global private equity players, who have invested in India over the past few years. With its latest nearly $100 million investment in the...
Royal Dutch Shell in race for Actis’ green company Sprng Energy
Oil and gas major Royal Dutch Shell has emerged as a surprise bidder to acquire Sprng Energy, the Indian renewable platform of Actis Llp that is on sale, said people aware of the matter. Shell, the world’s largest...
Legacy Reserves seeks buyers for shale oil and gas assets – sources
Privately owned shale producer Legacy Reserves is in search of a buyer for its oil and gas assets in the Permian and Haynesville basins, two people familiar with the matter told Reuters on Friday. Legacy, which is among...
GAIL completes acquisition of IL&FS’s 26 pc stake in OTPC
State-owned gas utility GAIL (India) Ltd on Tuesday said it has completed the acquisition of bankrupt Infrastructure Leasing and Financial Services (IL&FS) 26 per cent stake in ONGC Tripura Power Company (OTPC)...
Privatization of BPCL may be pushed to next fiscal year
The privatization of state-run Bharat Petroleum Corp. Ltd (BPCL) may be pushed to the next fiscal as the sale process has not progressed at the desired pace, two officials aware of the development said. “The financial...
Italy’s Snam to buy biomethane assets from Asja Ambiente
Italian gas infrastructure group Snam has agreed to buy a series of biomethane assets from Asja Ambiente Italia as part of its plans to develop its green gasses business. Snam said on Tuesday it had agreed to acquire...
