Fitch Ratings on Wednesday said the potential privatisation of BPCL is an “event risk” as there is little information about bidders and potential transaction structure. The rating agency affirmed Bharat...
BPCL privatisation: Govt rules on worker protection, asset stripping later
The government will provide guidance on employee protection, asset stripping and business continuity in Bharat Petroleum Corp Ltd (BPCL) to potential acquirers of the company only at a later stage of bidding, according...
Reliance unveils details of oil-to-chemical business spinoff plan
Reliance Industries Ltd’s new oil-to-chemical business unit will hold its oil refinery and petrochemical assets and retail fuel business but not upstream oil and gas producing fields such as KG-D6 and textiles...
Elliott Management discloses stake in Chevron target Noble Energy
Hedge fund Elliott Management Corp has acquired a stake in Noble Energy Inc, the oil and gas producer which agreed in July to be bought by Chevron Corp for $5 billion. The stake was disclosed in a notice posted on the U...
Japan’s Sumitomo sells all of its stake in U.S. Marcellus shale gas project
Japanese trading house Sumitomo Corp has sold all its stake in the Marcellus shale gas project in the United States for an undisclosed sum, it said on Monday in a statement. Sumitomo bought a 30% stake in the project in...
Government issues multiple clarifications on BPCL stake sale
The government has issued several clarifications in Bharat Petroleum Corporation Limited (BPCL) stake sale, allowing interested parties to float a special purpose vehicle or SPV at any time after submitting an...
RIL to spin off oil to chemicals biz
Reliance Industries Ltd on Sunday released details related to carving out its oil-to-chemicals business into a separate entity, six months after it first announced the proposal as a precursor to a stake sale. According...
Blackstone sells about 40% stake in Cheniere’s limited partnership
Blackstone Group Inc said on Monday it would sell about 40% of its stake in liquefied natural gas producer Cheniere Energy Inc’s limited partnership to Brookfield Infrastructure and its own affiliated company. The...
Brazil’s Petrobras to sell Polo Rio Ventura onshore fields to 3R Petroleum for $94.2 million – filing
Brazil’s state-owned oil giant Petrobras said on Friday it has agreed to sell its entire stake in eight onshore fields at Polo Rio Ventura in the state of Bahia to 3R Petroleum e Participacoes for $94.2 million...
Occidental to sell some Colorado, Utah assets for $1.33 billion
Occidental Petroleum Corp said on Wednesday it will sell some of its Wyoming, Colorado and Utah assets to Orion Mine Finance for about $1.33 billion, as the oil and gas producer looks to cut the debt it took on with its...
Chevron’s interest in giant gas field led to $5 billion bid for Noble Energy
Chevron Corp’s $5 billion offer to acquire Noble Energy emerged after the U.S. oil major first proposed taking a stake of at least 50% in Noble’s Eastern Mediterranean natural-gas fields, a proxy filing on Tuesday...
U.S. energy bankruptcy surge continues on credit, oil-price squeeze
Another 16 U.S. energy firms filed for protection from creditors last month, reflecting crude oil prices below levels that are profitable for many companies, according to a report by law firm Haynes and Boone on Tuesday...
