After a gap of more than two years, the government may again revive the plan for further consolidation in the public sector oil companies by allowing mergers between producing, marketing, gas transportation and...
Appalachia gas producer Alta Resources exploring $3 billion sale -sources
Privately-owned Appalachian gas producer Alta Resources is exploring options that include a sale of its acreage for more than $3 billion, people familiar with the matter said on Thursday. The move comes as a prolonged...
RIL sells south western Pennsylvania shale gas assets for $250 million to Northern Oil and Gas
Reliance Industries’ arm Reliance Marcellus has signed an agreement with Delaware-based Northern Oil and Gas for sale of shale gas assets in south western Pennsylvania for a consideration of $250 million cash and...
Brazil’s Eneva in direct talks for Petrobras’ Urucu cluster
Brazilian energy firm Eneva SA has entered into direct talks with state-run oil firm Petrobras to purchase a complex of oil and gas fields in the Amazon rainforest known as the Urucu cluster, the companies said in...
BP sells 20% stake in Oman gas development to Thailand’s PTTEP
Oil major BP Plc agreed on Monday to sell a 20% stake in Oman’s Block 61 to Thailand’s state-owned energy firm PTT Exploration and Production for $2.6 billion. The London-listed firm said it would continue as an...
Exxon, Chevron CEOs discussed merger in early 2020, talks no longer active
The chief executives of ExxonMobil Corp and Chevron Corp held preliminary talks in early 2020 to explore combining the two largest U.S. oil producers in what would have been the biggest merger of all time, according to...
Reliance spins off oil-to-chemical business unit
Billionaire Mukesh Ambani’s Reliance Industries Ltd has completed spin-off of the firm’s oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships...
Adani Total Gas, Torrent Gas invest in IGX, acquire 5% stake each
Adani Total Gas and Torrent Gas have become the first strategic investors in IGX (Indian Gas Exchange) by acquiring five per cent stake each, according to the Indian Energy Exchange (IEX). The IGX is an arm of IEX and...
India still hopes oil majors will join race for Bharat Petroleum sale
India expects global oil majors to team up with investment funds that are already in the race for the nation’s biggest asset sale — state-owned refiner Bharat Petroleum Corp. “When the price bidding comes up, I am...
Equinor divests stake in Canada oil sands producer Athabasca
Norway’s Equinor said on Wednesday it has sold its stake in Athabasca Oil, a Canadian firm producing carbon-intensive oil sands. Majority state-owned Equinor sold 100 million shares, representing an 18.8% stake in...
ONGC’s plan to merge MRPL with HPCL may have to wait till FY24
State-run oil and gas explorer ONGC’s plan to complete the merger of its refining subsidiary MRPL with recently acquired HPCL to align its upstream and downstream operations into two verticals has got delayed. The...
Chesapeake Energy to emerge from bankruptcy court as a $5.13 billion enterprise
U.S. oil and gas producer Chesapeake Energy’s Chapter 11 bankruptcy plan was approved by a U.S. judge on Wednesday, giving lenders control of the firm and ending a contentious trial. Chesapeake will emerge from...
