French energy giant Total SA is close to acquiring a 30% stake in Indian gas distribution company Adani Gas for upwards of rupees 5,500 crore ($800 million), the Times of India reported on Friday. The deal is expected...
GAIL offers to assume Konkan LNG’s debt in exchange for stake
State-run gas utility GAIL (India) Ltd has proposed to assume the debt of about ₹4,000 crore of Konkan LNG Pvt. Ltd in lieu of receiving the lenders’ stake in the company for free, said two bankers aware of the...
Govt wants ONGC to sell 2 of its fairways in Ahmedabad and Vadodara
Those holes weren’t dug for finding oil or natural gas, but ONGC prizes them anyway. The government, though, now wants the public sector hydrocarbon giant to sell its golf courses dotted around the country. ONGC’s...
PBF Energy to buy Shell’s Martinez, California oil refinery for up to $1 billion
U.S. refiner PBF Energy Inc on Tuesday agreed to pay up to $1 billion for a California oil refinery that Royal Dutch Shell PLC has been trying to sell for at least four years. Terms of the deal require Shell to pay...
Brazil’s Petrobras receives bids for LPG unit on Tuesday: sources
Brazil’s state-controlled oil company Petroleo Brasileiro SA has delayed the delivery of non-binding proposals for its LPG unit to June 11, three people with knowledge of the matter said. Initially, Petrobras, as the...
Petrobras, Brazil government dodge bullet as Supreme Court approves asset sales
Brazil’s Supreme Court ruled on Thursday that state-run firms do not need congressional approval to sell their subsidiaries, a major victory for the government of President Jair Bolsonaro and state-run oil firm...
Brazil’s Petrobras expects narrow win in supreme court decision over asset sales: sources
Brazil oil producer Petroleo Brasileiro expects to narrowly win a supreme court decision that would allow it to proceed with asset sales, according to two company sources involved in the case, freeing up billions of...
BPCL, HPCL take 25% stake each in IOC’s Rs 10,000-crore LPG pipeline project
Indian Oil, Bharat Petroleum and Hindustan Petroleum will jointly lay the world’s largest liquefied petroleum gas (LPG) pipeline between Gujarat and Uttar Pradesh at an estimated cost of Rs 10,000 crore. The three state...
BP agrees to sell Egyptian oil assets to Dubai’s Dragon Oil
BP said on Monday it had agreed to sell its interests in the Gulf of Suez oil concessions in Egypt to Dubai-based Dragon Oil for an undisclosed sum. Under the terms of the agreement, Dragon Oil will purchase producing...
Toshiba says Total to take its U.S. LNG business after Chinese buyer pulls out
French energy group Total will buy Toshiba’s U.S. liquefied natural gas business for $15 million, the Japanese industrial conglomerate said on Saturday, weeks after a previous deal with a Chinese energy firm collapsed...
Total expects Papua New Guinea to honour LNG deal
French energy company Total said on Friday that it expected Papua New Guinea’s incoming government to honour a contract signed by the previous administration for a liquefied natural gas project in the South Pacific...
Delek IPO hopeful Ithaca buys Chevron’s British North Sea fields
Israel’s Delek Group moved closer to listing its Ithaca Energy subsidiary on Thursday by buying most of Chevron’s British North Sea oil and gas fields for $2 billion. Under pressure from a fall in oil prices to near 14...
