State seeks to buy 13 per cent more stake in NRL for ₹ 2,000 crore The Assam government has requested the Centre to divest its stake in Bharat Petroleum Corporation Ltd in favour of Numaligarh Refinery Ltd (NRL) to Oil...
Cairn India hunts for big oil partner via stake sale
The Anil Agarwal-led Vedanta is looking to sell a minority stake in Cairn India to a strategic partner as the diversified oil-to-metals conglomerate looks to cut its mammoth $6.6 billion (Rs 46,500 crore) debt and...
Polish oil refiner PKN surprises with plan to take over utility Energa
Poland’s biggest oil refiner, state-run PKN Orlen, unexpectedly announced on Thursday that it plans to take over state utility Energa to strengthen its position in the electricity market. PKN said it will offer 7 zlotys...
Puma Energy sells Paraguay business to Trafigura’s Impala JV
Puma Energy, the retail and storage arm of commodities trader Trafigura, has agreed to sell its business in Paraguay to Impala Terminals for $200 million, the company said on Wednesday. The deal is expected to complete...
EU opens antitrust investigation into PKN’s bid for Lotos
Polish oil refiner PKN Orlen’s (PKN.WA) bid for rival Lotos (LTSP.WA) may reduce competition in Poland and neighboring countries and push up prices, EU antitrust regulators said on Wednesday as they opened a full-scale...
Saipem joint venture push with U.S. drillers draws a blank: sources
Italian oil services company Saipem is trying to lure big U.S. rivals into joint ventures but has so far failed to secure deals for stakes in drilling operations valued at up to 1.5 billion euros ($1.7 billion), six...
Schlumberger scraps bid for stake in Russia’s Eurasia Drilling
U.S. oilfield services giant Schlumberger has withdrawn its bid for a stake in Russia’s Eurasia Drilling Company (EDC) Russia’s Federal Anti-monopoly Service (FAS) said on Monday. Schlumberger, which has its own...
Venezuela rejected BP bid to buy Total’s stake in gas block – sources
Venezuela’s oil ministry last month turned down a proposal by BP (BP.L) to buy Total’s (TOTF.PA) stake in a promising but inactive natural gas project along the maritime border with Trinidad and Tobago, five people...
Japan refiner Idemitsu finalizes deal to buy out Showa Shell
Japanese oil refiner Idemitsu Kosan (5019.T) on Tuesday finalised a deal to buy out Showa Shell Sekiyu (5002.T) through a share swap in a deal worth about $5.6 billion. Shares in the two companies, which had run up...
GMR Infra arm signs pact with APGDC for piped natural gas supply
GMR InfrastructureNSE 5.05 % Thursday said its arm Kakinada SEZ has inked a pact with Andhra Pradesh Gas Development Corporation (APGDC) for supply of piped natural gas. “Kakinada SEZ, a subsidiary of GMR Infra...
SandRidge Energy rejects takeover bids, saying they undervalue company
U.S. shale oil producer SandRidge Energy Inc (SD.N) said on Monday it had ended its strategic review and rejected all bids, saying they undervalued the company. SandRidge Energy’ implied liquidation value, obtained by...
Petrobras, Total ink deals for Brazil government share of pre-salt oil cargo
Brazil’s state-run oil company Petrobras (PETR4.SA) and France’s Total (TOTF.PA) on Friday agreed to buy millions of barrels of oil cargo from the Brazilian government, its first successful auction of its share of...