China’s Sinopec, expected to be the next major Chinese buyer of U.S. liquefied natural gas (LNG), is planning to review terms of a potential $16 billion supply deal with Cheniere Energy Inc after a sharp drop in LNG...
U.S. firm GIP, Shell-Cosan venture plan to bid on Brazil refineries- sources
U.S.-based financial firm Global Infrastructure Partners (GIP) is planning a joint bid with Brazil’s fuel distribution company Raízen for refineries put on the block by Petroleo Brasileiro SA, two sources with knowledge...
BW Offshore set to spin off $800 million oil unit in first quarter
Oslo-listed BW Offshore plans to float its BW Energy oil and gas business in the first quarter of 2020, with an expected valuation of between $700 million and $800 million, the company said on Wednesday. BW Offshore, a...
Brazil’s Petrobras closes $1.5 billion deal to sell stake in African joint venture
Brazil’s state-controlled oil company Petroleo Brasileiro SA said on Tuesday it had ended its activities in Africa after closing the sale of a 50% stake in Petrobras Oil & Gas BV (PO&GBV), which holds some...
IOC to take call on bidding for govt’s stake in BPCL: Chairman Sanjiv Singh
Indian Oil Corporation (IOC) will take a call on bidding for the government’s stake in Bharat Petroleum Corporation (BPCL) once it comes to the market, said IOC Chairman Sanjiv Singh. Singh said it was still not clearly...
UAE’s ADNOC agrees gas, petrochem deals with two Indonesian firms: WAM
Abu Dhabi National Oil Company (ADNOC) signed agreements with Indonesia companies Pertamina and Chandra Asri in the petrochemical and gas sectors, UAE state news agency WAM reported on Sunday. The deals included a sales...
Royal Dutch Shell seeking buyer for Anacortes, Washington refinery – sources
Royal Dutch Shell Plc is looking to sell its oil refinery in Anacortes, Washington, according to three people familiar with the matter. If completed, this and other asset sales currently underway would reduce Shell’s...
PSUs not allowed to bid for BPCL
PSUs such as ONGC and IOC will not be allowed to bid for Bharat Petroleum Corporation Ltd (BPCL), a senior government official has said. “The Cabinet has cleared it, questions have been answered in Parliament. It’s a...
Occidental to cut Western Midstream stake to reduce debt
Occidental Petroleum Corp said on Monday it would cut its majority stake in pipeline operator Western Midstream Partners LP to less than 50% in 2020, to reduce its debt that grew significantly with the Anadarko...
Oil PSU unions oppose BPCL disinvestment, say it will cause long-term loss
Employee associations of state-run oil companies on Saturday opposed planned strategic sale of Bharat Petroleum Corporation (BPCL), stating that it may bring revenue for the government but its long-term impact will be...
U.S. oil deals hit 5-year high in 2019 on Occidental’s blockbuster Anadarko buy
The value of U.S. oil and gas mergers and acquisitions reached a five-year peak of $96 billion in 2019 on the back of competing bids for Anadarko Petroleum, energy data provider Enverus said on Thursday. Occidental...
Niko exits KGD6 after settlement of $36 m with RIL, BP
Niko Resources has exited the KGD6 block, settling its arbitration with Reliance Industries and BP for $36 million and letting the two partners take over its 10% stake in the block, said the Canadian company’s statement...
