Oilfield services firm BJ Services filed for Chapter 11 bankruptcy protection early on Monday, following a severe cut in demand and cash crunch due to the coronavirus pandemic. The company, which offers hydraulic...
Petrobras sells remaining 10% stake in TAG to Engie Brasil, CDPQ
Brazil’s state-owned oil company Petrobras on Monday agreed to sell its remaining 10% stake in natural gas pipeline company TAG to Engie Brasil and Canadian investment fund Caisse de Depot et Placement du Quebec (CDPQ)...
ChemChina buys Gazprom Neft’s first Arctic oil cargo for China: sources
Russia’s Gazprom Neft has sold its first ever Arctic oil cargo to China to ChemChina, two sources familiar with the deal told Reuters on Thursday. This week, Gazprom Neft said it had sent 144,000 tonnes of light Novy...
Reliance’s $15 billion stake sale deal with Aramco delayed
Reliance Industries’ plans to sell 20% stake in its oil-to-chemical business to Saudi Aramco is delayed, chairman of the Indian conglomerate said on Wednesday. Reliance, operator of the world’s biggest refining complex...
Brazil’s Petrobras finalizes sale of oil fields to Trident Energy
Brazil’s Petrobras said on Wednesday it had finalized the sale of its stake in 10 oil fields to Trident Energy do Brasil with a payment of $365.4 million. The fields as a whole are known as the Polos de Pampo e Enchova...
BP pays $1 billion for 49% stake in fuel retail JV with Reliance Industries
UK’s BP has paid Reliance Industries $1 billion for 49% stake in a fuel retail joint venture, closing a transaction the two companies announced last year. Reliance BP Mobility ltd (RBML), the joint venture in which...
Mubadala set for exclusive talks with Petrobras to buy Bahia refinery
Abu Dhabi’s investment fund Mubadala Investment Co will enter into exclusive talks with Petrobras to purchase Brazil’s second-largest refinery, the Brazilian state-owned oil company said in a securities filing on...
Buffett’s Berkshire to buy Dominion Energy gas assets for $4 billion
Berkshire Hathaway Inc said its energy unit will buy Dominion Energy Inc’s natural gas transmission and storage network for $4 billion, helping billionaire Chairman Warren Buffett reduce his conglomerate’s cash pile...
CIMB alleges ‘suspicious’ Hontop Energy oil deals with BP – affidavit
Singapore’s High Court has appointed an independent supervisor to oversee the restructuring of trader Hontop Energy. The move came after Malaysian lender CIMB, its biggest creditor, raised concerns about what it...
Oil India, Engineers India led consortium to buy 48% stake in NRL
An Oil India Ltd and Engineers India Ltd-led consortium will buy 48% stake in the Bharat Petroleum Corporation Ltd’s subsidiary, Numaligarh Refinery Ltd (NRL). State-run refiner Bharat Petroleum Corporation...
PG&E emerges from Chapter 11 bankruptcy
Utility PG&E Corp said on Wednesday it had emerged from bankruptcy, marking an end to a long-drawn restructuring process which began after its equipment sparked some of the deadliest wildfires in California. The...
U.S. oil M&A activity rises in second quarter on Appalachian gas deals: Enverus
Dealmaking activity in the U.S. oil patch improved in the second quarter, after a subdued start to the year, helped by deals targeting assets in the gas-rich Appalachian region, according to data from oil and gas...
