India’s top gas company GAIL will foray into hydrogen generation and take the acquisition route to scale up its renewable energy portfolio as it pivots business beyond natural gas to align with energy transition...
$86 bn of takeovers, but big oil’s merger mania has an eye on its demise
Is a barren year for oil industry deal activity finally coming to an end? So far there’s been $86 billion of takeovers announced, pending or completed, according to data compiled by Bloomberg. If things continue at...
Australia’s Woodside snares BHP oil, gas business in $28 bln merger
BHP Group has agreed to sell its petroleum business to Woodside Petroleum in a merger to create a top 10 independent oil and gas producer worth A$38.5 billion ($28 billion) with growth assets in Australia and the...
Saudi Aramco is in advanced talks on up to $25 billion Reliance deal
Saudi Aramco is in advanced talks for an all-stock deal to acquire a stake in Reliance Industries Ltd.’s oil refining and chemicals business, people with knowledge of the matter said. The Saudi Arabian firm is...
No decision on stake sale in Petronet, IGL yet: BPCL
Bharat Petroleum Corporation Ltd (BPCL) on Friday said no decision has yet been taken to sell its stake in and Indraprastha Gas to help the company’s owner avoid making an open offer for the two gas companies. V R...
NNPC to buy 20% stake in Dangote’s oil refinery for $2.76 bln
Nigeria has given its state oil firm the green light to acquire a 20% stake in Dangote’s oil refinery for $2.76 billion, junior oil minister Timipre Sylva said on Wednesday. The 650,000-barrel-per-day oil...
Hyundai to take stake in German hydrogen fuelling group H2 Mobility
Hyundai Motor Co will invest in Germany’s H2 Mobility network of hydrogen fuelling station operators, it said on Thursday, as it looks to support infrastructure for fuel cell-powered vehicles. A partner in the project...
HollyFrontier to buy most of Sinclair Oil’s assets in $2.6 billion deal
HollyFrontier Corp will pay $2.6 billion for almost all of Sinclair Oil’s assets, adding new refining, pipeline and storage facilities in the U.S. Rocky Mountain region, the company’s chief executive said on Tuesday...
IOC may sell some petrol pumps to JV with Petronas
Indian Oil Corporation (IOC), the nation’s biggest oil firm, may sell some of its over 32,300 petrol pumps to a joint venture with Malaysia’s Petronas with a view to monetising the firm’s vast fuel...
L&T board approves merger of L&T Hydrocarbon Engineering
Larsen & Toubro on Tuesday said its board has approved the amalgamation of the company’s wholly-owned arm L&T Hydrocarbon Engineering Ltd with the parent firm. The go-ahead was given in the meeting of the...
Shell to buy Inspire Energy in green energy push
Royal Dutch Shell Plc said on Tuesday it would buy renewable energy retailer Inspire Energy Capital LLC, as the European major looks to expand its renewable power business in the United States. The deal, by the...
Govt eases FDI rules to aid BPCL privatisation: Report
India’s federal cabinet approved plans on Thursday to allow 100% foreign direct investment in state-run oil companies in which a strategic stake sale is announced, a move to help privatisation of Bharat Petroleum...
