The government has extended the deadline for submission of expression of interest (EoI) for selling its stake in Bharat Petroleum Corp Ltd (BPCL) by over a month to November 16. This is the fourth time the government...
Devon-WPX deal offers a playbook for future shale consolidation
The latest business combination in the U.S. shale patch is signaling a path forward for the troubled sector. In contrast to the bankruptcies of the past three months, Devon Energy $2.56 billion all-stock, low premium...
Oil majors Rosneft, Saudi Aramco unlikely to bid for BPCL privatisation
Oil majors Rosneft and Saudi Aramco are unlikely to bid in the privatisation of Indian refiner Bharat Petroleum Corp, sources familiar with the matter said, as low oil prices and weak fuel demand curb investment plans...
Devon Energy to buy shale-oil rival WPX Energy for $2.56 billion
U.S. oil and gas producer Devon Energy Corp said on Monday it will buy shale-oil rival WPX Energy Inc for $2.56 billion as it looks to boost its presence in the top U.S. oilfield. The all-stock deal comes as U.S. shale...
U.S. shale producer Devon in talks to acquire peer WPX
U.S. shale producer Devon Energy Corp is in talks to acquire rival WPX Energy Inc in an all-stock transaction that would create a company worth around $6 billion, people familiar with the matter said on Saturday. The...
Shell looking to sell stake in Philippines’ Malampaya gas project
Royal Dutch Shell PLC is looking to sell its 45% stake in the Malampaya gas-to-power project in the Philippines, a key power source for the country’s main island of Luzon, its local unit said on Thursday. “As part...
IOC to invest Rs 17,825 crore in Gujarat refinery expansion, petrochemical project
Indian Oil Corporation (IOC), the nation’s top oil firm, on Tuesday said it will invest Rs 17,825 crore in raising the capacity of its Gujarat refinery as well as setting up a petrochemical plant at the unit as...
IOCL to invest ₹17,000 crore in Gujarat refinery for petchem, lube integration
Country’s largest oil marketing company Indian Oil Corporation will invest Rs. 17,825 crore to implement Petrochemical and Lube Integration at its Gujarat Refinery. IOC, the country’s second largest player...
Proxy adviser Glass Lewis backs Noble Energy sale to Chevron
Glass Lewis has recommended that shareholders of Noble Energy Inc vote in favor of the energy producer’s proposed $5 billion acquisition by Chevron Corp, the proxy advisory firm said in a statement on Friday...
BPCL may buy Oman Oil’s share in Bina refinery
State-run Bharat Petroleum Corporation Ltd may acquire its partner Oman Oil Company Ltd’s stake in Bharat Oman Refineries Ltd (BORL), a joint venture between the companies, said two officials from BORL. “We...
Neste sells stake in struggling Swedish refiner Nynas to Bitumina
Finland’s Neste said on Tuesday it had sold its 49.99% stake in struggling Swedish oil refiner Nynas AB to Dubai’s Bitumina Industries. Nynas is in the midst of a court-administered process to reorganize its...
Reliance may use stake sales to help fund growth plan
Reliance Industries Ltd (RIL), which has raised more than ₹2.2 trillion through stake sales, is likely to go on a shopping spree as the coronavirus pandemic has clouded the prospects of cash-strapped businesses, making...
