Indian Oil plans to monetise its hydrogen-producing facilities to raise about Rs 10,000 crore, according to people familiar with the matter. The nation’s largest oil refiner and fossil fuel retailer is also India’s...
BPCL to pay shareholders from Rs 9,876 cr Numaligarh Refinery stake sale
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) may use Rs 9,876 crore proceed from stake sale in Numaligarh Refinery to pay a special dividend to shareholders, the biggest being Government of...
BPCL to sell Numaligarh Refinery stake for Rs 9,876 cr
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Monday said it will exit Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for Rs 9,876...
Exxon to divest some UK, North Sea assets for over $1 billion
Exxon Mobil Corp will sell non-operating interest in its UK and North Sea exploration and production assets to private-equity fund HitecVision for more than $1 billion, as the oil major seeks to free up cash and focus...
Reliance to spin off O2C biz into 100% subsidiary
Reliance Industries (RIL) is carving out its oil-to-chemicals (O2C) business into a 100% wholly-owned-subsidiary, clearing the decks for the induction of an international partner, the company said on Tuesday. RIL had...
RIL | Saudi Aramco: RIL announces O2C biz demerger ahead of Aramco deal
Reliance Industries announced the contours of its demerger of its O2C (oil-to-chemicals) business into a wholly-owned subsidiary, in order to attract global investors like Saudi Aramco and sought shareholder and...
Post deleveraging, Reliance has upper hand in Aramco deal talks
In 2020, Reliance Industries Ltd (RIL) set deal street on fire with large stake sales in its telecom and retail businesses and a rights issue. A news report now suggests that fundraising and deleveraging will continue...
Future of Petrobras refinery sales in doubt, three source close to bidders say
The future of state-run oil company Petrobras’s refinery sales is in doubt after the Brazilian government moved to replace Chief Executive Roberto Castello Branco, three people close to the bidders said on Friday. The...
Oil India teams up with Engineers India to bid for BPCL’s 61.65% stake in Numaligarh Refinery
Oil India (OIL) has teamed up with Engineers India Ltd (EIL) to bid for BPCL’s 61.65% stake in Numaligarh Refinery Limited (NRL). The boards of the two state-run firms approved on Thursday their plans to jointly bid...
Targeting to conclude BPCL strategic sale by June: DIPAM Secretary
The government is targeting to conclude the strategic sale of BPCL NSE -0.57 % in the June quarter, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Thursday. “I...
Government to spin-off NDR into separate company to boost oil, gas exploration
The government will create a company to own and operate India’s maiden National Data Repository (NDR) that stores information on the vast sedimentary basins in a bid to boost oil and gas exploration and...
BPCL to complete NRL stake sale by end of March
State-run Bharat Petroleum Corp. Ltd (BPCL) aims to complete the sale of its stake in Assam-based Numaligarh Refinery Ltd (NRL) by end-March. The company is also close to finalizing the transaction to buy a 36.62% stake...
