Oil and Natural Gas Corporation (ONGC) is likely to take a short-term bridge loan for about one year to fund the acquisition of the government’s stake in Hindustan Petroleum Corporation (HPCL). ONGC has already lined up...
Former head of Russian gas company Itera buys stake in New Stream
Igor Makarov, the former head of Russian gas company Itera, is wrapping up a deal to buy 50 percent of New Stream, the energy group said on Monday. Russia’s largest oil producer Rosneft (ROSN.MM) fully acquired Itera...
Noble Group expects to sell oil liquids business by end-December
Noble Group Ltd (NGL) expects to sell its oil liquids business by the end of December as part of a plan to slim down drastically and focus on its core Asian coal trading business after a crisis-wracked two years. “NGL...
ONGC may sell IOC, GAIL stakes to fund acquisition of HPCL
State-owned Oil and Natural Gas Corp may sell some of its stake in Indian Oil Corp and gas utility GAIL India to part fund its over Rs 32,000 crore acquisition of refiner HPCL, Chairman D K Sarraf said. ONGC holds 13.77...
RIL outbids GAIL to buy all its own CBM gas
Reliance IndustriesBSE -0.05 % has outbid rivals, including state-owned GAIL IndiaBSE 7.28 %, to buy the entire volume of natural gas from its own coal seam blocks until March 2021. In May, RILBSE -0.05 % had become the...
Australia’s Beach Energy snares Origin gas assets for $1.25 billion
Australia’s Beach Energy (BPT.AX) has agreed to buy gas assets from Origin Energy Ltd (ORG.AX) for $1.25 billion in a deal that will more than double the oil and gas producer’s output and step up its exposure to a tight...
Government plans to sell stake in ONGC oilfields to private firms
Nearly 25 years after ONGCBSE 0.41 %’s prime discovered oilfields were privatised, the government is planning to allow private firms to take majority stake in the state-owned firm’s producing oil and gas...
ONGC may look at selling stake in other PSUs to fund HPCL acquisition
Oil and Natural Gas Corporation (ONGCBSE 0.00 %), India’s state-run petroleum explorer, may look at selling its existing stake in other Public Sector Undertakings (PSUs) to partly fund a planned acquisition of...
ONGC to acquire govt’s stake in HPCL in bulk or block deal in Nov-Dec
The state-owned Oil and Natural Gas Corporation (ONGC) will acquire the government’s 51.11 percent stake in HPCL through a bulk or block deal sometime in November or December at the prevailing market price. While...
Assam Petrochemicals Limited to invest Rs 1337 crore to set up second unit
In what is billed as the single largest investment by a state PSU in recent times, Assam Petrochemicals Limited (APL) will invest close to Rs 1337 Crore to set up second unit for producing methanol and Formalin. The new...
Oil PSUs mulling to acquire stake in oil field in UAE: Utpal Bora
Indian oilBSE -2.07 % PSUs are mulling to acquire up to 20 percent stake in an oil field belonging to Abu Dhabi National Oil Company (ADNOC) in UAE, Utpal Bora, CMD of Oil IndiaBSE -1.05 % Limited said today. “One...
Govt panel deciding valuation for ONGC’s HPCL acquisition: M K Surana
Even as state-owned oil marketer Hindustan Petroleum Corporation Ltd (HPCL) gears up for a merger with upstream Oil and Natural Gas Corporation (ONGC), the company recently discussed setting up LPG storage facility with...
