Norwegian oil firm Equinor is offering to sell its remaining 4.88% stake in Swedish competitor Lundin Energy, bookrunners Morgan Stanley and SpareBank 1 Markets said in a statement on Tuesday. Equinor’s sale of up to 14...
Due diligence by Aramco on track for planned stake sale: RIL
Reliance Industries, which is trying to sell 20 per cent stake in the company to Saudi oil giant Aramco, on Thursday said that the due diligence for the deal was on track. “In spite of the Covid-19 crisis and the...
Reliance to hive off $75 bn O2C business into separate unit for sale to Aramco
Reliance Industries Ltd (RIL), India’s largest company, on Thursday said its board has approved hiving off its USD 75 billion worth oil-to-chemicals business into a separate division to enable the sale of 20 per...
CCI clears BP’s investment in RIL’s fuel retailing business
The Competition Commission of India (CCI) said on Thursday it has cleared British energy giant BP’s 49% investment in Reliance Industries’ fuel retailing business announced last year. The competition regulator said in a...
U.S. oilfield firm Intrepid acquires Gyrodata’s directional drilling business
U.S. oilfield firm Intrepid Directional Drilling Specialists acquired the directional drilling business of well survey firm Gyrodata, the companies said on Thursday, in a deal to expand operations as service companies...
Court allows Premier Oil to delay debt repayment, raise equity for BP deal
A British court on Wednesday approved Premier Oil’s plans to extend debt maturities by two years and raise up to $500 million in equity to buy North Sea assets from BP and others, but the deal depends on market...
Chesapeake Energy preparing bankruptcy filing – sources
Chesapeake Energy Corp, the oil and gas exploration and production company that was at the forefront of the past decade’s U.S. shale boom, is preparing a potential bankruptcy filing as it grapples with an unprecedented...
BP revises $5.6 billion Alaska deal after oil price crash
BP Plc said on Monday it had amended financial terms of the $5.6 billion sale of its Alaska business to privately held Hilcorp Energy Co following the recent slump in oil prices, which may lead to a lower cash boost...
Delhi HC restrains IOCL from invoking bank guarantee furnished by Punj Lloyd
The Delhi High Court has restrained Indian Oil Corporation from encashing bank guarantees of around Rs 203 crore furnished by engineering, procurement and construction firm Punj Lloyd in connection with a contract for...
Tullow exits Uganda project, sells stake to Total for $575 million
Total has agreed to buy Tullow Oil’s entire stake in jointly-held onshore oil fields in Uganda for $575 million, Tullow said on Thursday as it strives to raise $1 billion this year to reduce its $2.8 billion of debt...
Saudi Aramco-RIL deal at risk as oil prices fall
The collapse in oil prices has raised the risk that Saudi Aramco’s plan to buy $15-billion stake in Reliance Industries (RIL) hydrocarbon business may not go through, US-based brokerage Bernstein has warned. Saudi...
Pharos Energy exits group looking to buy Shell’s Western Desert assets
Pharos Energy said on Tuesday it was withdrawing from a consortium evaluating the acquisition of Shell Egypt NV’s assets in the Western Desert in Egypt, amid a collapse in global oil prices. Acquisition of the upstream...
