ONGC Videsh Ltd (OVL) will raise a bridge loan of close to $900 million overseas to fund an acquisition of an additional 11 percent stake in Russia’s Vankor oilfield. OVL, the overseas arm of state-owned Oil and...
Libyan oil port takeover gives edge to eastern commander
Less than a fortnight after forces loyal to Khalifa Haftar swept into four of Libya’s oil ports, tankers are loading, production has jumped, and momentum has shifted firmly in the divisive former general’s...
OMCs’ subsidiaries, joint ventures in good health
Three state-run oil marketing companies (OMCs) saw an improved financial performance of their subsidiaries and joint ventures in 2015-16, leading to a higher consolidated profit than their standalone performance. The...
Stake sale news flow no longer a burden on Castrol India stock
Castrol India Ltd’s share price jumped 8.8% on Tuesday, a day when the benchmark Sensex declined 0.4%. Castrol Ltd, a wholly-owned subsidiary of BP Plc., sold 8.5% stake in Castrol India through a bulk deal. 42 million...
IOC eyes entire GSPC stake in Mundra LNG terminal
Mumbai: Indian Oil Corp. Ltd (IOC) wants to buy Gujarat State Petroleum Corp.’s (GSPC) entire stake in the GSPC-Adani liquefied natural gas (LNG) terminal being built in Mundra, Gujarat. GSPC, however, is still weighing...
BP plc sells 8.53% stake in Castrol India, holds 51%
BP plc of the UK on Tuesday sold a further 8.53 per cent stake in its lubricant maker Castrol India to bring its shareholding down to 51 per cent. BP, which had in May sold 11.5 per cent shares in Castrol India, sold 4...
IOC, GAIL to sign pact to take 49% stake in Adani project
State-owned refiner Indian Oil Corporation (IOC) and GAIL India will sign a pact on Wednesday to take 49 per cent stake in Adani Group’s Rs 5,000-crore Dhamra LNG project in Odisha. While IOC will take 38 per...
Russia’s EconMin says finalizing Bashneft’s stake sale parameters
Russia’s Economy Ministry is working towards finalizing a framework of mid-sized oil producer Bashneft’s privatization where new bidders for the state’s stake could emerge, the ministry said on...
EnQuest, Delek Group end Kraken oilfield stake sale talks
Oil producer EnQuest Plc (ENQ.L) said it ended talks with Israeli conglomerate Delek Group Ltd (DLEKG.TA) regarding a potential stake sale in an oilfield in the North Sea. The companies said in July they were in talks...
IndianOil’s stake in proposed refinery tied to entry of strategic partner
State-owned Indian Oil Corporation might hold 50 per cent in a refinery being planned on the west coast if Saudi Arabia and Kuwait do not take up the offer of an equity stake. India has offered Saudi Arabia and Kuwait...
Rosneft, Essar meet to expedite $2.8-bn deal
In a bid to expedite Rosneft’s acquisition of 49 per cent stake in Essar Oil, the legal teams of the Ruias of Essar Group and Russian oil major Rosneft are meeting later this week to sort out issues raised by Indian...
Russia aiming for over $11 billion from Rosneft stake sale
Russia hopes to fetch more than $11 billion for a minority stake in the Kremlin’s flagship oil producer Rosneft before the end of the year to plug budget holes caused by low crude prices, an industry source told...
