The chief executive of Brazilian biodiesel company BSBios said on Friday he plans to buy out state-run oil company Petroleo Brasileiro SA’s (PETR4.SA) 50 percent stake in the firm, citing the sector’s improved prospects...
BPCL may sell up to 24% in Bina Refinery in Madhya Pradesh
National oil companies of Oman, Kuwait and Abu Dhabi are in talks to buy up to 24% stake in Madhya Pradesh’s Bina refinery, two people aware of the development said. Bharat Oman Refineries Ltd (BORL), which operates the...
Bharat Petroleum to raise $200 million for Abu Dhabi asset purchase
Bharat Petroleum Corp. Ltd (BPCL) plans to raise $200 million to fund the acquisition of a 3% share in the Lower Zakum Concession, Offshore Abu Dhabi, two people aware of the development said. A consortium comprising...
Total to sell 25 percent stake in South African block to Qatar Petroleum
Qatar Petroleum said on Monday it had signed an agreement with French oil and gas major Total to acquire a 25 percent stake in an exploration block, offshore South Africa, in a deal that would strengthen Total’s ties...
Shell buying spree cranks up race for clean energy
Royal Dutch Shell has spent over $400 million on a range of acquisitions in recent weeks, from solar power to electric car charging points, cranking up its drive to expand beyond its oil and gas business and reduce its...
HPCL may acquire MRPL in cash, share-swap deal
Hindustan Petroleum Corp. Ltd (HPCL) may acquire Mangalore Refinery and Petrochemicals Ltd (MRPL) in a cash and share-swap deal to become India’s third-largest oil refiner, a top official said. Oil and Natural Gas Corp...
Govt is said to mull selling HPCL at not more than 9% premium
India is considering a plan to sell its ownership in Hindustan Petroleum Corp. to the nation’s biggest explorer at a premium of not more than 9% of the company’s six-month average share price as it seeks to reach a...
Founding family ups stake in Japan’s Idemitsu to 28.5 percent
The founding family of Japanese petroleum company, Idemitsu Kosan (5019.T), locked in a battle with the firm’s management over a proposed integration with a smaller rival, said it had further increased its stake in the...
IOC drops Chennai Petroleum merger plan
State-owned Indian Oil Corporation (IOC) has dropped plans to merge its subsidiary Chennai Petroleum Corp Ltd (CPCL) with itself, a top company official said. IOC holds 51.89 percent stake in CPCL and had planned to...
BPCL eyes government stake in GAIL India for Rs18,000-20,000 crore
State-run Bharat Petroleum Corp. Ltd (BPCL) is in talks with the country’s largest natural gas transporter GAIL (India) Ltd to acquire the government’s majority stake in it for Rs18,000-20,000 crore. Three people with...
Brazil judge lifts injunction on Petrobras sale of TermoBahia stake to Total
Brazil’s Petrobras (PETR4.SA) said on Wednesday that a federal court struck down an injunction that had stopped the sale of the state-controlled oil company’s stake in thermal power station operator TermoBahia to...
ONGC to hire i-bankers for HPCL acquisition
State-owned Oil and Natural Gas Corp (ONGC) will hire investment bankers to assist it in acquiring government’s 51.11 per cent stake in Hindustan Petroleum Corp Ltd (HPCL). The investment or merchant banker to be hired...
