State-run Indian Oil Corporation is planning to invest at least Rs 20,000 crore to add a 25-million-tonne (mt) pipeline. The project will cover 20 projects in the next four years. “We are looking to increase our...
Rosneft-led deal to buy Essar delayed, seen closing in April
The acquisition of Indian refiner Essar Oil by a consortium led by Russian oil company Rosneft is expected to be completed in the next few weeks, Essar said in written comments to Reuters on Friday. “The parties are...
Venezuela’s cash-strapped PDVSA offers Rosneft oil stake – sources
Venezuelan state oil company PDVSA has offered Russian counterpart Rosneft a stake in a joint venture in the country’s Orinoco Belt extra-heavy crude area, five industry sources said, in a sign of the Latin...
Shell sells Canadian oil sands, ties bonuses to emissions cuts
Royal Dutch Shell has agreed to sell most of its Canadian oil sands assets for $8.5 billion, the latest international oil major to withdraw from the costly and carbon-heavy projects. Shell is trying to sell assets...
Engie seeks to sell entire stake in Petronet LNG
France’s Engie SA plans to sell its entire 10% holding in India’s biggest importer of liquefied natural gas. GDF International, an Engie unit, has written to the four Indian state-owned companies that together own half...
Maersk could land Danish North Sea oil deal within days: sources
Oil and shipping conglomerate A.P Moller-Maersk could land a deal with the Danish government on oil and gas operations in the North Sea within days, political sources with knowledge of the negotiations told Reuters on...
Cabinet approves deal with ADNOC for strategic oil storage
India has approved a deal for Abu Dhabi National Oil Co (ADNOC) to fill part of a strategic oil storage facility, the government said on Monday. India imports most of its oil needs and ADNOC will supply about 6 million...
Total in talks to buy Iranian LNG project: sources
Total (TOTF.PA) is in talks to buy a multi-billion dollar stake in Iran’s partly-built liquefied natural gas (LNG) export facility, Iran LNG, seeking to unlock vast gas reserves. The French oil major — the...
Saudi Aramco to invest $7 billion in Petronas’ RAPID oil refinery
Malaysia’s Prime Minister Najib Razak announced on Monday that Saudi Arabia’s state oil company Saudi Aramco will invest $7 billion in an oil refinery and petrochemical project in Malaysia’s southern...
China state firm in preliminary deal to buy Chevron’s Bangladesh gas fields – oil executives
China’s state-run Zhenhua Oil has signed a preliminary deal with Chevron (CVX.N) to buy the U.S. oil major’s natural gas fields in Bangladesh that are worth about $2 billion, two Beijing-based Chinese oil...
Indian Oil to invest Rs15,750 crore to grow pipeline network
State-owned Indian Oil Corp. Ltd is set to invest heavily in logistics that will see the bulk of its petroleum product transport go off roads and railway lines into long-distance pipelines. Chairman B. Ashok said Indian...
Bharat Petroleum plans to raise Rs 2,000 crore
State-run oil marketing company Bharat Petroleum Corporation Ltd (BPCL) on Friday said that it plans to raise up to Rs 2,000 crore through private placement of secured non-convertible debentures during the current...
