The former chief executive officer of Philadelphia Energy Solutions is seeking to buy and restart the 335,000 barrel-per-day PES refinery, which closed after a June fire, the former CEO and backers of the plan said in a...
BP to quit Alaska after 60 years with $5.6 bln sale to Hilcorp
British oil major BP Plc on Tuesday agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years. The deal, which includes interests in...
Petroperu aims to sell 10% to 15% of shares in private placement next year
State-owned Peruvian oil company Petroperu wants to sell 10% to 15% of its shares through a private placement offering next year to pay down its debt, the head of the company said on Tuesday. Carlos Paredes said...
PDC Energy to buy SRC for $971 million in cash push; shares soar
Oil and gas producer PDC Energy Inc on Monday agreed to buy smaller rival SRC Energy Inc in a $971.3 million all-stock deal, in an attempt to boost its cash flow and create the second largest producer in Colorado’s DJ...
Brazil’s Itaúsa in talks with Petrobras to acquire LPG unit: filing
Brazilian investment firm Itausa Investimentos SA delivered the highest bid and entered talks with state-controlled oil firm Petroleo Brasileiro SA on the contract to acquire LPG distribution unit Liquigas, the company...
Biofuels company proposes to buy fire-damaged Philadelphia refinery
A biofuels producer said on Thursday it is proposing to acquire the fire-damaged Philadelphia Energy Solutions refinery and convert it to make renewable diesel and jet fuels. S.G. Preston Co is the first company to...
Shell exits city gas business in India, sells MGL stake in open market
Shell India, the local arm of the Netherlands-based Royal Dutch Shell Plc, on Tuesday exited the city gas business in the country after it sold its 10 per cent stake in Mahanagar Gas Ltd for Rs 770 crore. According to...
Wood cuts debt with $305 million nuclear unit sale
British oilfield services provider Wood Plc said on Tuesday it would sell its nuclear energy business for about $305 million to Jacob Engineering, acting to reduce its debt burden as it reported a 2.6% drop in first...
PES up against the clock to sell Philadelphia refinery in cash crunch
Finding a buyer for Philadelphia Energy Solutions’ oil refinery has grown urgent as the bankrupt company’s funds dwindle and no signs emerge that it is winning a fight for insurance payouts after a June blaze at the...
RIL to sell 20% in oil-to-chemicals unit to Aramco at $75-B enterprise value
Reliance IndustriesNSE 10.29 % on Monday signaled a tectonic shift in its decades-long, successful business model of going it alone by proposing to offload stake in its oil-to-chemicals business to Saudi Arabian giant...
Reliance, BP joint venture to invest Rs 35,000 crore in KG basin
Reliance Industries and BP Plc will together invest Rs 35,000 crore for bringing to production three sets of natural gas fields in the Krishna Godavari basin block in the Bay of Bengal, Chairman and Managing Director...
Russia’s Rotenberg denies buying Gazprom stake
Russian businessman Arkady Rotenberg, a former judo training partner of Russian President Vladimir Putin, denied on Wednesday a media report that he had bought a stake in Russian gas giant Gazprom (GAZP.MM). “We (or...
