Adani Gas aims to close the deal with French energy-major Total by March, Suresh P Manglani, chief executive officer of the former said on Wednesday. Manglani said that the company is committed to expanding its city gas...
IOC signs pact to buy Russian crude oil
The crude oil, being sourced under the contract, will be loaded in Suezmax vessels at Novorossiysk port of Russia and will come to India bypassing Straits of Hormuz. Indian Oil Corp has signed a deal with Russia’s...
Brazil’s BNDES raises $5.2 billion selling Petrobras stake: sources
Brazil’s development bank BNDES sold on Wednesday $5.2 billion in common shares it owned in state-controlled oil company Petroleo Brasileiro SA, two people with knowledge of the matter said. Petrobras priced the...
Stake in Gujarat Gas good for valuation
Gujarat State Petronet (GSPL) has come out of its two-year consolidation range of Rs 232 recently and if history is to repeat, then the stock is expected to give a decent return over the medium term. Analysts are...
IOC acquires stake in Israeli battery developer Phinergy
State-owned Indian Oil Corp (IOC) on Tuesday said it has acquired a minority stake in Israeli battery developer Phinergy Ltd for developing ultra-lightweight metal-air batteries that can be used in electric vehicles...
Oil ministry seeks approval to split GAIL; pipeline business may be sold later
The Oil Ministry has moved a cabinet note seeking approval for hiving off state-owned gas utility GAIL (India) Ltd’s pipeline business into a separate entity for a possible sale to a strategic investor at a later...
Blackstone’s Permian oil producer Guidon explores sale: sources
Guidon Energy, an oil exploration and production company majority-owned by private equity firm Blackstone Group Inc, is exploring a sale that could value the Permian basin operator at more than $2.5 billion including...
Petrobras readies sale of Brazil fuel distributor stake: sources
Brazil’s state-controlled oil company, Petroleo Brasileiro SA, has hired seven investment banks to sell a stake in its fuel distribution unit, Petrobras Distribuidora SA, three people with knowledge of the matter said...
Assam Government requests Central Government to divest BPCL’s stake in NRL to Oil India
State seeks to buy 13 per cent more stake in NRL for ₹ 2,000 crore The Assam government has requested the Centre to divest its stake in Bharat Petroleum Corporation Ltd in favour of Numaligarh Refinery Ltd (NRL) to Oil...
Cairn India hunts for big oil partner via stake sale
The Anil Agarwal-led Vedanta is looking to sell a minority stake in Cairn India to a strategic partner as the diversified oil-to-metals conglomerate looks to cut its mammoth $6.6 billion (Rs 46,500 crore) debt and...
RIL-Saudi Aramco deal unlikely to close by March-end, says CFO
Mukesh Ambani-led Reliance Industries is unlikely to close the deal for 20 per cent stake in its oil to chemicals business to Saudi Aramco by March 31 this year, according to a senior company official. In August last...
Brazil’s Petrobras moves forward in process to sell remaining stake in TAG
Brazil’s state-run oil company Petroleo Brasileiro said on Friday that it had begun the “non-binding phase” of the process of selling its remaining 10% stake in its former pipeline subsidiary Transportadora Associada de...
