Sinclair Oil Corp, which operates two Wyoming refineries and has licensed more than 1,000 branded gasoline stations, is reviewing offers to buy the company, according to three people familiar with the matter. A Sinclair...
Austria’s OMV negotiating $4.7 billion purchase of Borealis stake
Austrian oil company OMV is preparing to increase its stake in plastics maker Borealis to 75% in a deal worth $4.7 billion, OMV said on Friday. OMV already owns 36% of the company, with the remainder held by Abu Dhabi...
Woodside holds on to stake in Senegal oil field as FAR challenge fails
ConocoPhillips’ (COP.N) sale of a stake in a $4.2 billion Senegal oil and gas project to Woodside Petroleum (WPL.AX) has been cleared by an international tribunal, resolving a long-running challenge by Australian...
Assam Government requests Central Government to divest BPCL’s stake in NRL to Oil India
State seeks to buy 13 per cent more stake in NRL for ₹ 2,000 crore The Assam government has requested the Centre to divest its stake in Bharat Petroleum Corporation Ltd in favour of Numaligarh Refinery Ltd (NRL) to Oil...
Cairn India hunts for big oil partner via stake sale
The Anil Agarwal-led Vedanta is looking to sell a minority stake in Cairn India to a strategic partner as the diversified oil-to-metals conglomerate looks to cut its mammoth $6.6 billion (Rs 46,500 crore) debt and...
Polish oil refiner PKN surprises with plan to take over utility Energa
Poland’s biggest oil refiner, state-run PKN Orlen, unexpectedly announced on Thursday that it plans to take over state utility Energa to strengthen its position in the electricity market. PKN said it will offer 7 zlotys...
Puma Energy sells Paraguay business to Trafigura’s Impala JV
Puma Energy, the retail and storage arm of commodities trader Trafigura, has agreed to sell its business in Paraguay to Impala Terminals for $200 million, the company said on Wednesday. The deal is expected to complete...
EU opens antitrust investigation into PKN’s bid for Lotos
Polish oil refiner PKN Orlen’s (PKN.WA) bid for rival Lotos (LTSP.WA) may reduce competition in Poland and neighboring countries and push up prices, EU antitrust regulators said on Wednesday as they opened a full-scale...
Saipem joint venture push with U.S. drillers draws a blank: sources
Italian oil services company Saipem is trying to lure big U.S. rivals into joint ventures but has so far failed to secure deals for stakes in drilling operations valued at up to 1.5 billion euros ($1.7 billion), six...
Schlumberger scraps bid for stake in Russia’s Eurasia Drilling
U.S. oilfield services giant Schlumberger has withdrawn its bid for a stake in Russia’s Eurasia Drilling Company (EDC) Russia’s Federal Anti-monopoly Service (FAS) said on Monday. Schlumberger, which has its own...
Venezuela rejected BP bid to buy Total’s stake in gas block – sources
Venezuela’s oil ministry last month turned down a proposal by BP (BP.L) to buy Total’s (TOTF.PA) stake in a promising but inactive natural gas project along the maritime border with Trinidad and Tobago, five people...
Japan refiner Idemitsu finalizes deal to buy out Showa Shell
Japanese oil refiner Idemitsu Kosan (5019.T) on Tuesday finalised a deal to buy out Showa Shell Sekiyu (5002.T) through a share swap in a deal worth about $5.6 billion. Shares in the two companies, which had run up...
