A U.S. judge on Tuesday approved a $5.9 billion bid from an affiliate of Elliott Investment Management in the court-organized auction of Citgo Petroleum’s parent, clearing the way to order the sale of Venezuela...
Occidental in talks to sell OxyChem unit for at least $10 billion, FT reports
Occidental Petroleum is negotiating the sale of its OxyChem division, a transaction that could value the unit at a minimum of $10 billion, the Financial Times reported on Sunday. The divestment was likely to be...
Woodside in talks to sell Louisiana LNG stake to Kuwait Petroleum unit, Bloomberg News reports
Woodside Energy is in talks with an overseas unit of Kuwait Petroleum to sell a stake in its Louisiana liquefied natural gas plant in the U.S., Bloomberg News reported on Monday, citing people with knowledge of the...
Saudi Aramco to acquire 25% stake in Unioil Petroleum Philippines
Saudi Arabia’s Aramco has signed an agreement to acquire a 25% equity stake in Unioil Petroleum Philippines, the company said in a statement late on Wednesday. The company, however, did not disclose the financial...
BP weighing sale of minority stake in offshore wind business: Report
BP is considering selling a minority stake in its offshore wind business, according to four sources with knowledge of the matter, the latest effort by CEO Murray Auchincloss to scale back the energy company’s...
Santos amends PNG stake sale terms with Papua New Guinea’s Kumul Petroleum
Oil and gas giant Santos said it had amended the terms of sale of its 2.6% stake in PNG liquefied natural gas (LNG) project to Kumul Petroleum, allowing the Papua New Guinea state-owned firm additional time to pay the...
Papua New Guinea in advanced talks with Chinese banks to fund its stakes in LNG megaprojects
Papua New Guinea’s state-owned petroleum company is in advanced talks with Chinese banks to help fund its stakes in the two major liquefied natural gas (LNG) projects in the country, a senior executive said on...
Occidental in talks to buy Permian producer CrownRock – source
Occidental Petroleum is one of the finalists in the auction for CrownRock, an energy producer in the west Texas area of the Permian basin, with a bid of more than $10 billion, a person familiar with the matter told...
Singapore’s BW LPG to invest $30 mln in JV with Confidence Petroleum India
Singapore-based BW LPG will invest $30 million in Confidence Petroleum India through preferential allotment of shares, and form a joint venture to develop LPG import infrastructure, the companies said on Thursday. The...
Australia’s Santos sells nearly 3% stake in PNG LNG project for $736 mln
Australia’s Santos Ltd finalised the initial sale of a 2.6% stake in its PNG liquefied natural gas (LNG) project to Papua New Guinea state-owned Kumul Petroleum for $736 million. Under the deal, Kumul will buy the...
Reliance Industrial Investments becomes RIL promoter, buys 3.56% in Petroleum Trust
Reliance Industrial Investments and Holdings Limited (RIIHL) has become the promoter entity of Reliance Industries Limited, following the acquisition of a 3.56% stake in Petroleum Trust, another promoter entity...
Pakistan Refinery Limited, Air Link look to buy Shell Pakistan stake
State-owned Pakistan Refinery Limited and Air Link Communication, a local firm, are seeking to buy a stake in Shell Pakistan, the companies said in a notice to the stock exchange. Last month, Shell Petroleum...
