The Bombay High Court has refused to grant relief to Reliance NSE 0.22 % Naval Engineering (RNEL) in a dispute with state-owned Oil & Natural Gas Corporation (ONGC NSE 0.07 %) and directed the Anil Ambani-controlled...
Oil India divestment likely soon, says chairman Utpal Bora
Oil India Ltd’s (OIL) divestment could happen shortly, said the company’s chairman and managing director Utpal Bora. “We are ready and all approvals for the divestment are in place, but I think the...
5 investors may join Brookfield for East West buy
A set of marquee asset management companies, family offices, banks and insurers are said to be interested in participating in the Brookfield-led infrastructure investment trust (InvIT) that is buying the loss making...
France’s Total undecided on bid for Dutch energy firm Eneco
French oil and gas major Total has not made a decision on whether to bid for Dutch energy company Eneco, the firm’s chief executive Patrick Pouyanne said on Thursday. Total has been mentioned alongside others including...
Essar Oil to acquire pipeline, oil terminal from BP for up to $100 million
Essar Oil UK said in an announcement on Wednesday that it has signed an agreement to acquire a few assets owned by energy major BP. The deal includes a stake in the UKOP pipeline, a contractual joint venture and...
ONGC Videsh looks to pare stake in one of its costliest acquisitions
State-run ONGC Videsh Ltd (OVL) is exploring the transfer of its stake in Imperial Energy Corp. Plc’s Siberian deposits to a Russian firm to reduce potential losses from the $2.1-billion acquisition, said a person aware...
PetroRio wants to buy Petrobras stake in Frade oil field: source
Brazilian independent oil firm PetroRio SA, which already owns 70 percent of the Frade oil field, has approached Petrobras about buying its 30 percent stake in the field, a person familiar with the matter said. PetroRio...
Venezuela’s Citgo denies report it is weighing bankruptcy
U.S. refiner Citgo, owned by Venezuelan state oil firm PDVSA, denied a report on Thursday that it was considering filing for bankruptcy in the United States amid a row between the Trump administration and Venezuela’s...
Oil India gets Sebi exemption from buyback norms
Markets regulator Sebi on Thursday exempted state-run Oil India from complying with buyback regulations with regard to its proposed 5.04 crore share purchase programme. The order comes after the PSU filed an application...
Chevron to buy Pasadena refinery from Petrobras for $350 mln
Chevron Corp said on Wednesday it would pay $350 million to buy a refinery in Pasadena, Texas, from Brazilian state oil company Petrobras, confirming a Reuters report from Monday. In addition to the 110,000-barrel-per...
Coal India in talks with Gail, IOC for CBM JVs
Coal India NSE 0.47 % is in talks with Gail India and IOC for joint ventures to develop coal bed methane fields and sell the product. Coal India has already lined up investments to the tune of Rs 3,000 crore for its...
Brazil govt aims to sell at least $20 billion in assets this year
Brazilian President Jair Bolsonaro’s government wants to sell at least $20 billion in assets of state-owned companies this year including parts of Petrobras and Banco do Brasil, the country’s secretary of privatization...
