Royal Dutch Shell is seeking to sell its stake in the Danish Underground Consortium (DUC), an offshore oil and gas joint venture, in what would mark the company’s effective exit from Denmark, three banking sources...
Shell says renegotiating Permian JV with Anadarko
Royal Dutch Shell (RDSa.L) and Anadarko Petroleum (APC.N) are renegotiating their five-year-old joint venture in the Permian shale basin in Texas, Shell Chief Financial Officer Simon Henry said on Thursday. The 50-50 JV...
Budget 2017: Arun Jaitley proposes plan to merge state firms to create global oil major
India may be on its way to having its own hydrocarbon behemoth that can take far more risks than individual oil companies can at present and make larger investment decisions. The aspiration is to create an entity on the...
Shell agrees to UK North Sea, Thai asset sales worth $4.7 billion
Royal Dutch Shell (RDSa.L) announced two divestments on Tuesday worth $4.7 billion including selling a chunk of its North Sea assets to private-equity backed Chrysaor which will now become a top three oil and gas...
Rosneft purchase leads $82 billion spree by sovereign investors in 2016
Qatar’s purchase of a stake in Russian oil company Rosneft last month crowned a year of mega-acquisitions by sovereign investors in 2016, with total deal value rising 22 percent to $82 billion whilst the number of...
Oil IPOs Ready to Bloom Across the U.S.
It may be time for a baby boom in U.S. oil. Rising crude prices and a deregulatory push in Washington may spur as many as 40 companies to hold initial public offerings over the next two years, potentially tripling...
Brazil’s Petrobras sells stake in ethanol company Guarani for $202 million
Brazil’s state-run oil company Petroleo Brasileiro SA said on Wednesday it had sold its stake in the ethanol company Guarani for $202 million to France’s biggest sugar group Tereos [TEREO.UL]. Petrobras...
Australia’s Woolworths sells petrol chain to BP for $1.3 billion
Australia’s top grocer Woolworths Ltd (WOW.AX) said on Wednesday it will sell its chain of petrol stations to BP plc (BP.L) for A$1.8 billion ($1.3 billion), the latest disposal in a bid to return the...
BP takes Abu Dhabi oil field stake for $2.2 billion in stock
BP Plc cemented its 77-year relationship with Abu Dhabi by swapping about $2.2 billion of its own shares for a stake in one of the emirate’s largest onshore oil concessions. The UK’s second-biggest oil group will issue...
Japan’s Idemitsu to buy 33 percent of Showa Shell by year-end: Nikkei
Japanese refiner Idemitsu Kosan Co (5019.T) will acquire one-third of Showa Shell (5002.T) by the end of the year, and the anti-monopoly watchdog is expected to approve their merger proposal as early as next week, the...
BP-RIL tie-up likely for fuel retail venture
Oil giant BP Plc. may join hands with Reliance Industries Ltd (RIL) to launch its fuel retail business in India, two people in the know said. BP is RIL’s partner in its exploration and production, and gas sourcing...
Shell considering selling its Iraq oil assets: sources
Royal Dutch Shell (RDSa.L) is considering selling out of its oil fields in Iraq as part of its global $30 billion asset disposal program, industry sources said on Monday. Shell is seeking to slim down its vast oil and...
