Oil producer Saudi Aramco will buy a 10% stake in a thermal engines joint venture between French carmaker Renault and Chinese automaker Geely, the companies said on Friday, valuing the business at 7.40 billion euros ($7...
BPCL subsidiary gets NCLT nod to take over Videocon Oil
A Mumbai bankruptcy court has approved a debt resolution plan given by Bharat PetroResources Ltd, a subsidiary of Bharat Petroleum Corp (BPCL) to take over Videocon Oil Ventures, upholding Bharat Petro’s right to...
SM Energy to buy XCL’s Uinta assets for $2 bln, shares slump
SM Energy said on Thursday it had agreed to buy some shale assets of oil and gas producer XCL Resources for about $2 billion, extending its footprint in the Uinta region in Utah, sending its shares down 10%. XCL, backed...
After 7 years and $1.2 bn investment, ONGC offers stake in Deen Dayal gas field
After spending close to USD 1.2 billion and seven years of little success, state-owned Oil and Natural Gas Corporation (ONGC) is seeking partners to rescue the Deen Dayal gas field in the KG basin in Bay of Bengal. ONGC...
Gabon completes acquisition of Carlyle’s Assala Energy
Carlyle Group said on Friday that it had completed the sale of its oil and gas company Assala Energy to Gabon’s national oil company. Gabon Oil Company (GOC) agreed to acquire Assala Energy in February after it...
BP to buy out Bunge’s stake in Brazilian biofuels JV in $1.4 bln deal
BP has agreed to buy grain trader Bunge’s 50% stake in Brazilian sugar and ethanol joint venture BP Bunge Bioenergia for $1.4 billion in a bet on growing demand for low-carbon biofuels. Following the completion of...
South Korea’s SK Innovation and SK E&S to pursue merger, newspaper says
South Korea’s SK Innovation, parent of the country’s largest oil refiner and battery maker SK On, is expected to pursue a merger with energy affiliate SK E&S, resulting in a 106 trillion won ($76.81...
Shell to acquire Singaporean LNG firm Pavilion Energy from Temasek
Shell has agreed to buy Singaporean liquefied natural gas (LNG) company Pavilion Energy from global investment company Temasek in a move the oil major said will strengthen its leadership position in LNG, according to...
New govt not in favour to sell stake in OMCs, says Oil Minister Puri
The Centre is not in favour of divesting the government’s stake in oil marketing companies, said Oil Minister Hardeep Singh Puri on Tuesday. In addition, the Centre will make efforts to bring petrol, diesel and...
Spain’s Criteria drops takeover plan for Naturgy with Abu Dhabi’s TAQA
Spanish holding firm Criteria said on Monday it had not reached an agreement with Abu Dhabi’s TAQA over a potential joint takeover bid for Spanish gas firm Naturgy. El Mundo newspaper had earlier reported, citing...
Hungary to buy 5% stake in Azerbaijan’s Shah Deniz gas field
Hungarian state-owned energy conglomerate MVM will buy a 5% stake in Azerbaijan’s Shah Deniz gas field, it said in a statement on Wednesday. Hungary, a landlocked country, has been importing natural gas mainly...
Parkland to sell Canadian propane business for $84 mln amid investor pressure
Canadian fuel distributor Parkland said on Wednesday it would sell its Canadian commercial propane business to Avenir Energy for about C$115 million ($84.00 million) in cash amid a push by investors for a strategic...
