Reliance Industries Ltd. and Saudi Aramco are re-evaluating the planned $15 billion investment by the Saudi state-owned company in the Indian conglomerate’s oil-to-chemicals business. The decision to “mutually” re...
ONGC and GAIL begin talks to acquire JBF Petrochem
Oil and gas explorer ONGC and natural gas transmission and marketing company GAIL India have separately initiated preliminary talks with lenders of KKR-backed JBF Petrochemicals to explore the possibility of acquiring...
Vedanta mulls demerger of some businesses with separate listing & leadership
Billionaire Anil Agarwal-led Vedanta Ltd is evaluating a demerger of its aluminium, iron & steel and oil & gas businesses, which will be run as standalone listed entities with separate leadership in what it...
Russia’s Rosneft acquires Shell’s 37.5% stake in German refinery PCK Schwedt
Russian oil giant Rosneft has acquired Shell’s 37.5% stake in German refinery PCK Schwedt, it said on Wednesday, exercising an option to buy and taking its shareholding to 91.67%. Italy’s Eni holds an 8.33% stake in the...
Japan’s JERA to buy 25.7% stake in Freeport LNG for $2.5 billion
Japan’s JERA, the world’s biggest individual buyer of liquefied natural gas (LNG), said on Monday it will by a 25.7% stake in Freeport LNG Development (FLNG) for about $2.5 billion. FLNG operates the Freeport LNG...
I Squared Capital drops out of BPCL race
US private equity firm I Squared Capital is dropping out of the race to buy India’s second-largest state oil firm, Bharat Petroleum Corporation Ltd (BPCL) owing to a complex deal structure and lack of financial...
Cheniere to sell U.S. LNG to France’s Engie
U.S. liquefied natural gas (LNG) company Cheniere Energy Inc agreed to sell LNG to a unit of French energy company Engie SA for 11 years starting in 2021. Analysts said the deal, which is with Cheniere’s Corpus Christi...
Government of India asks ONGC to consider selling 60% stake in key oil, gas fields: Source
India’s petroleum ministry has asked state-run explorer Oil and Natural Gas Corp to consider selling a 60% stake in its two major oil and gas fields to private companies to boost output, a government source said...
Petrobras sells shale oil unit to Canadian bank
Brazil’s state-run oil company Petrobras signed a contract to sell its Shale Industrialization Unit (SIX) for $33 million to Forbes & Manhattan Resources, it said in a filing on Thursday. The refining unit is...
France’s Engie, Credit Agricole to buy Spain’s Eolia Renovables
Gas and power group Engie and French bank Credit Agricole said on Thursday they had agreed to buy Spanish renewable energy group Eolia Renovables. The deal highlights growing investor appetite for renewable energy...
BP and Aker sell stake in oil venture Aker BP at 10% discount
Oil major BP and Norway’s Aker said on Thursday they have jointly sold a 5% stake in Norwegian oil firm Aker BP, cutting their combined holding in the company to 65%. The 18.01 million shares were sold at 310 crowns...
RIL to exit North America shale gas business by divesting Eagleford upstream asset stake
Reliance Industries has signed an agreement to sell off the last of its shale gas businesses, upstream assets in the Eagleford in Texas, USA, marking the company’s exit from the shale gas play in North America...
