Russia’s largest oil producer Rosneft (ROSN.MM) has proposed a $2 billion share buyback to improve returns, alongside plans to cut total debt and trading liabilities by a minimum of 500 billion roubles ($7.9 billion)...
15 bidders likely in oil block auction; ONGC, Oil India may jointly bid
The ongoing Open Acreage Licensing Policy round of oil and gas auctions is likely to be a battle between public sector undertakings and the Anil Agarwal-led Cairn India in many of the lucrative blocks. According to...
Petrobras gets three bids for gas pipeline network: sources
Brazil’s state-controlled oil company Petroleo Brasileiro SA on Thursday received three binding bids for its gas pipeline network company TAG, three sources with knowledge of the matter said. The bids were from groups...
Seadrill gets U.S. court approval for bankruptcy exit plan
A U.S. judge said on Tuesday he would approve Seadrill Ltd’s (SDRL.OL) (SDLP.N) plan to exit its Chapter 11 bankruptcy, in which the global offshore oil and gas drilling company would shed billions of dollars of debt...
Statoil eyes partnership with ONGC to re-enter India’s hydrocarbon space
Norway’s Statoil ASA may enter India’s upstream hydrocarbon space in partnership with state-run Oil and Natural Gas Corp. (ONGC) for deep-water exploration, said a top Indian government official aware of the development...
Linde India looking to consolidate assets to shore up returns
After investing around Rs2,500 crore to create new capacity, industrial gas maker Linde India Ltd is looking to consolidate its assets in the country with the aim of shoring up returns as the economy starts to look up...
ONGC Petro Additions may raise Rs492 crore through CCDs
ONGC Petro Additions Ltd (OPAL) plans to raise Rs492 crore from Tata Mutual Fund and SBI Fund Management Pvt. Ltd through the sale of compulsorily convertible debentures (CCDs), two people aware of the development said...
India, Saudi Aramco to partner on $44 billion refinery-petchem project
Saudi Aramco on Wednesday signed an initial deal with a consortium of Indian refiners to build a $44 billion refinery and petrochemical project on India’s west coast, as the kingdom moves to secure buyers for its crude...
Shell India unit sells 8.5% stake in Mahanagar Gas
BG Asia Pacific Holdings Pte Ltd, a wholly owned subsidiary of Shell India, on Wednesday said it has sold 8.5% stake in Mahanagar Gas Ltd. After a block deal on stock exchanges, Shell’s share in Mahanagar Gas has come...
Norway’s DNO raises Faroe Petroleum stake to 25.4 percent
Norwegian oil firm DNO increased its stake in Faroe Petroleum to 25.4 percent on Wednesday, after announcing earlier in the day that it had bought a 15.4 percent holding in the British company. DNO bought the initial...
Baker Hughes explores sale of gas metering business: sources
Baker Hughes (BHGE.N), the oilfield services company controlled by General Electric Co (GE.N), is exploring a sale of its gas detection and metering business that could be worth around $900 million, people familiar with...
Reliance Industries, BP India put Cambay oil and gas block on sale
Reliance Industries Ltd (RIL) and partner BP India have put up their oil and gas block at Gujarat’s Cambay basin for sale, two people aware of the development said. RIL is the operator of the CB-ONN-2003/1 block (also...
