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...
IOC to invest Rs 52,000 cr in Paradip refinery post pact with Odisha govt
State-owned Indian Oil Corp (IOC) will invest about Rs 52,000 crore in expanding Paradip refinery and setting up petrochemical complex after the Odisha government agreed to restore part of tax incentives, a top source...
Elliott Management raises stake in BHP to 5 percent
Hedge fund Elliott Management has raised its stake in BHP Billiton (BHP.AX) (BLT.L) to 5 percent, stepping up a campaign to make the top global miner quit all or part of its petroleum business, boost returns and ditch...
PwC, EY, ICICI Securities, 2 others in race to become HPCL deal advisor
PwC, JM Financial and ICICI Securities are among the five consultants vying to become transaction adviser to the government’s over Rs 33,000 crore stake sale in Hindustan Petroleum Corporation (HPCL) to Oil &...
Australia antitrust regulator raises flags on BP Woolworths petrol buyout
Australia’s antitrust regulator said on Thursday it was concerned BP Plc’s (BP.L) plan to buy the petrol stations of grocery giant Woolworths Ltd (WOW.AX) would hurt competition, a sign it may block the A$1...
ONGC-HPCL merger on Cabinet agenda today
The proposed merger of Oil and Natural Gas Corporation (ONGC) and Hindustan Petroleum Corporation (HPCL) is on the agenda of the Union Cabinet meeting on Wednesday. The government is likely to give the control...
Idemitsu moves closer to Showa Shell deal after court nod to share sale
Idemitsu Kosan Co said it would proceed with a $1.1 billion sale of new shares, after a court rejected the founding family’s petition to block the offering, potentially clearing the way for a takeover of Showa...
Bharat Petroleum makes its first US oil purchase, buys Mars, Poseidon
Bharat Petroleum Corp has made its first purchase of U.S. oil, buying high sulphur crudes Mars and Poseidon in a tender, its head of refineries R. Ramachandran said. BPCL is the second Indian refiner to buy U.S. Gulf...
ONGC Videsh to acquire 30% petroleum participating interest in Namibia
ONGC Videsh has signed definitive binding agreements with Tullow Namibia Limited (Tullow), a wholly owned subsidiary of Tullow Oil plc, on 28th June 2017 for acquiring 30 percent participating interest in Namibia...
Petronet in talks to buy stake in GSPC’s Mundra LNG terminal
Petronet LNG Ltd, India’s biggest importer of liquid gas, is in talks to buy 25% stake in Gujarat State Petroleum Corp.’s (GSPC) almost complete Rs4,500 crore Mundra LNG import terminal in Gujarat. The 5-million tonne a...
HPCL to raise Rs27,000 crore for Rajasthan refinery
State-run Hindustan Petroleum Corp. Ltd (HPCL) will shortly approach the market to raise Rs27,000 crore in debt for its 9 million tonnes per annum (mtpa) Rajasthan refinery, two people aware of the development said...
