A fall in crude oil price and Aramco’s USD 75 billion annual dividend commitment may have delayed Saudi company picking a stake in Reliance Industries Ltd’s oil-to-chemical unit (O2C), research firm...
BPCL sells 54.16% stake in NRL to OIL; 4.4% to EIL
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Friday said it has sold its entire 61.5 per cent stake in Numaligarh Refinery in Assam to a consortium of Oil India Ltd and Engineers India and Government...
Chevron eyes deal for Shell oil refinery in Pacific Northwest: sources
Chevron Corp has emerged as a leading contender to buy a Royal Dutch Shell Plc refinery in the U.S. Pacific Northwest, three people familiar with the matter said on Friday. Shell has been trying to sell its 145,000...
BPCL disinvestment process moving on well, to conclude sale by Sept-end: DIPAM Secy
Disinvestment process of oil marketing firm BPCL is moving on well and expected to conclude by September-end, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Thursday...
Petrobras signs contract to sell RLAM refinery to Mubadala Capital
Petroleo Brasileiro SA said on Wednesday it had signed the contract to sell its RLAM refinery to Abu Dhabi’s Mubadala Capital for $1.65 billion, in a victory for outgoing Chief Executive Roberto Castello Branco. Earlier...
Saudi Aramco still in discussion to pick up stake in RIL’s O2C business
Energy major Saudi Aramco remains in discussion with Reliance Industries Ltd (RIL) for a potential deal to buy a 20% stake in its oil-to-chemical (O2C) unit, Morgan Stanley Research said on Monday in a note to clients...
Bharat Gas to merge with BPCL
The board of privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Monday approved the merger of its gas subsidiary, BGRL with itself in a bid to streamline corporate structure. “The board of directors of...
No plan to split GAIL: Oil Minister Dharmendra Pradhan
The government is not considering any proposal to bifurcate state-owned gas utility GAIL (India) Ltd, and the company is focused on building pipelines to connect gas sources to consumers to accelerate gas usage, Oil...
ONGC acquires 5% stake in Indian Gas Exchange
Oil and Natural Gas Corp (ONGC) on Wednesday said it has acquired a 5 per cent stake in Indian Gas Exchange (IGX), joining likes of Adani Total Gas, Torrent Gas and GAIL in nation’s first gas exchange. “ONGC...
BPCL Trust sells BPCL shares worth ₹5,525 crore
BPCL Trust for investment in shares on Tuesday offloaded shares worth over ₹5525 crore in Bharat Petroleum Corporation Ltd (BPCL) through an open market transaction. According to a bulk deal on the National Stock...
Singapore court approves winding up of oil trader Hin Leong: sources
Singapore’s High Court on Monday approved an application to wind up collapsed oil trading firm Hin Leong Trading Pte Ltd, marking the end of what was once one of Asia’s top oil traders, three sources familiar with the...
Petro Rio buys stake in Brazil oil block from Total
Brazilian oil company Petro Rio said on Thursday it had bought a 28.6% share in the Wahoo oil field off Brazil’s coast from France’s Total SA, upping its ownership of the area. That raises Petro Rio’s total stake in the...
