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U.S. oilfield services giant Schlumberger has withdrawn its bid for a stake in Russia’s Eurasia Drilling Company (EDC) Russia’s Federal Anti-monopoly Service (FAS) said on Monday.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...
Indian Oil seeks nod to raise ₹20,000 crore through private placement of debentures
Indian Oil Corp. Ltd, the country’s largest oil marketing company, has sought shareholder approval to raise up to ₹20,000 crore through a private placement of debentures in 2018-19, said two people aware of the...
Aramco listing plan halted, oil giant disbands advisors – sources
Saudi Arabia has called off both the domestic and international stock listing of state oil giant Aramco, billed as the biggest such deal in history, four senior industry sources said on Wednesday. The financial advisors...
NZ’s Contact Energy to sell LPG business for $177.4 mln
Contact Energy Ltd said on Tuesday it will sell Rockgas Ltd, which holds the company’s LPG business, to an associate of First Gas Ltd for NZ$260 million ($177.35 million) in cash. As a part of the deal, Contact will...
Japanese refiner Idemitsu wins family backing for Showa Shell merger
Japanese oil refiners Idemitsu Kosan and Showa Shell Sekiyu said on Tuesday they had agreed to merge on April 1 next year, after Idemitsu’s founding family dropped its long-standing opposition to the plan. The refiners...
UAE’s ADNOC may sell more of distribution business: sources
Abu Dhabi National Oil Company is considering selling another 10 percent stake in its fuel distribution business, which listed in an initial public offering last year, but the timing is uncertain, three sources familiar...
