Japan’s top oil refiner by sales, JX Holdings, and third-ranked TonenGeneral Sekiyu are set to finalize details on Wednesday for a newly merged company to be formed in April 2017. Both companies said the planned...
Castrol India says not aware of any stake sale by BP unit
MUMBAI: Castrol India LtdBSE 0.23 % said on Friday it was not aware of any stake sale in the company by Castrol LtdBSE 0.23 %, a unit of oil major BP Plc, and said recent news reports that such a transaction would take...
Oil M&A Is Back as Industry Focus Shifts From Survival to Growth
Multibillion-dollar oil and gas deals are back on the table. More than $11 billion of transactions were announced globally in July as crude’s recovery fueled hopes of a steadier market, Wood Mackenzie Ltd. said. That’s...
Cobalt International says Angola oil block stake sale terminated
Cobalt International Energy Inc (CIE.N) said the proposed $1.75 billion sale of a 40 percent stake in two offshore oil blocks in Angola to the state oil company was terminated as it did not get the necessary approvals...
BP unit selling up to $261 million stake in Castrol India
Castrol Ltd, a unit of oil major BP Plc, is selling an up to $261 million stake in Castrol India Ltd in a block trade on Wednesday, according to a term sheet seen by Reuters. The BP unit is selling shares at between Rs...
Eni talks to big oil about stake sale in giant Egypt gas field
Italy’s Eni is talking to oil companies including Lukoil, ExxonMobil, Total and BP about selling at least a 20 percent stake in its giant gas field in Egypt, industry sources said. Eni owns the whole of Zohr and...
Japan’s Idemitsu defends Showa Shell merger opposed by founding family
* Idemitsu says no change in schedule of planned merger * Founding family seeking to block merger * Idemitsu to seek discussions with big shareholders (Adds company comment, context; fixes slug) TOKYO, Aug 15...
BP seeks buyers for Chinese petrochemicals joint venture SECCO
FRANKFURT: British oil major BP is seeking buyers for its 50 per cent stake in Chinese petrochemicals joint venture SECCO, its largest investment in China, in a deal sources said could fetch $2-$3 billion. State-owned...
Billionaire Roekke Forces New Merger in Norway Oil Industry
Solstad Offshore ASA, a supply vessel company controlled by Kjell Inge Roekke, will merge with rival Rem Offshore ASA in the latest deal orchestrated by the Norwegian billionaire to take advantage of the collapse in...
Essar Oil in talks with overseas oil trading firms to sell 23.5% stake
Essar Oil may sell 49% to OAO Rosneft, 23.5% to firms such as Glencore, Trafigura by the end of July or early August. Mumbai: Essar Oil Ltd, India’s second-largest refiner outside government control, is in talks with...
China approves Chinatex merger with COFCO
China’s State Council approved a merger of textile and grains trading group Chinatex Corp with the country’s largest grain processor and trader COFCO Group, the state assets supervisor said on Friday...
Russian govt prefers direct stake sale in Rosneft to investors – RIA
The government has dropped the idea of selling a stake in Russia’s top oil firm Rosneft on the market and prefers its direct sale to strategic investors, RIA news agency quoted Russian First Deputy Prime Minister...
