Japan’s Itochu Corporation, through its subsidiary Itochu Petroleum Co (Singapore) Pte Ltd, will acquire 19.7 percent stake in Hindustan Aegis LPG Company Ltd (HALPG), a wholly-owned subsidiary of Aegis Logistics...
Parkland Fuel to buy Chevron Canada’s downstream fuel business
Chevron Corp, the second-largest U.S.-based oil company, sold its Canadian gasoline stations and refinery in British Columbia to Parkland Fuel Corp, a marketer of petroleum products, for C$1.46 billion ($1.09 billion)...
Cargill says Macquarie Group to buy its petroleum business
Australian investment bank Macquarie Group Ltd agreed to buy Cargill Inc’s [CARG.UL] petroleum business, the commodities trader said on Thursday, the latest reshuffling of its business following an almost three...
Merger talks of ONGC, HPCL on at ministerial level
State-owned oil major ONGC has said the preliminary discussion for its acquisition of India’s third-biggest fuel retailer HPCL has started and is going on at the ministerial level. “The talks are going on at...
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...
GSPC scraps plans for stake sale in 20 onshore E&P blocks
Gujarat State Petroleum Corp. Ltd (GSPC) has scrapped a plan to sell a stake in 20 of its onshore exploration and production (E&P) blocks, two officials aware of the development said. The firm had decided to sell...
OMV agrees to sell Turkish unit Petrol Ofisi to Vitol for $1.45 billion
Austrian energy group OMV (OMVV.VI) said it agreed to sell its Turkish fuel supply and distribution unit Petrol Ofisi to Vitol Investment Partnership, managed by the Swiss-based commodities firm Vitol VITOLV.UL, for 1...
Merger of Abu Dhabi’s IPIC and Mubadala creates $125-bn behemoth giant
Government of Abu Dhabi has merged two leading domestic companies – International Petroleum Investment Company (IPIC) and Mubadala Development Company – to create Mubadala Investment Company, a firm wholly-owned...
Shell looking to sell stake in Danish venture: banking sources
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...
HPCL may raise $500 million via bond issue
State-run oil company Hindustan Petroleum Corp. Ltd (HPCL) is planning to raise $500 million through a bond issue shortly, two people aware of the development said. “HPCL is executing its expansion plans and needs cash...
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...
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...
