Life Insurance Corp. of India (LIC) approved the $12.9 billion acquisition of Essar Oil by Russia’s Rosneft PJSC after the Essar group, controlled by the billionaire Ruia brothers, agreed to pay some of the money it...
From Oil Gushers to Golf Balls: Saudi Aramco Bets on Chemicals
Under a tent in the Saudi desert, Ziad Al-Labban’s showing off his vision for the world’s largest oil supplier — and it looks like an Ikea store. Al-Labban has spent his career helping Saudi Aramco meet about 10...
Rosneft says Essar Oil acquisition done, final details pending
Rosneft PJSC, Russia’s biggest oil producer, said it has all but completed its multibillion-dollar joint acquisition of Essar Oil Ltd, expanding its access to the Asian nation’s burgeoning fuel market. “Yesterday the...
LIC to clear Rosneft Essar Oil acquisition only after part payment of dues
Life Insurance Corp. of India (LIC) will clear Rosneft PJSC’s $12.9 billion acquisition of Essar Oil only after the Essar group pays at least a part of its dues to the insurer, said four people with direct knowledge of...
Russian Rosneft’s $12.9 billion Essar Oil deal held up over debt issues
Russian state oil firm Rosneft is struggling to close its $12.9 billion acquisition of India’s Essar OilBSE -0.15 % Ltd because six of Essar’s Indian creditors have yet to approve the deal, sources close to...
Essar-Rosneft deal: Acquisition expected to be completed by June-end
Russia’s largest oil producer Rosneft expects to complete the acquisition of Indian refiner Essar Oil by the end of June, Rosneft’s chief financial officer Pavel Fedorov said on Wednesday. The $12.9 billion...
Permian Resources announces restructuring transaction
Permian Resources Llc: * Permian Resources announces consensual and transformational restructuring transaction * Permian Resources Llc – announced that it has entered into a series of definitive agreements with...
Merger of oil PSUs will hurt consumers, harm India’s energy security
The government’s plan to merge India’s oil companies will harm consumers and energy security, according to a paper in the Economic and Political Weekly by Bhamy V. Shenoy, a consumer activist and former oil industry...
Chevron exploring sale of Canada oil sands stake worth about $2.5 billion: sources
Chevron Corp (CVX.N), the second-largest U.S.-based oil producer, is exploring the sale of its 20 percent stake in Canada’s Athabasca Oil Sands project, which could fetch about $2.5 billion, according to people...
YPF among bidders for Shell’s Argentina refinery: sources
Argentina’s state-run oil company YPF SA is among the bidders for Royal Dutch Shell Plc’s refinery and network of gasoline stations in Argentina, according to two people familiar with the process. Other nationally...
IndianOil to invest Rs 20,000 crore in pipeline network
State-run Indian Oil Corporation is planning to invest at least Rs 20,000 crore to add a 25-million-tonne (mt) pipeline. The project will cover 20 projects in the next four years. “We are looking to increase our...
Rosneft-led deal to buy Essar delayed, seen closing in April
The acquisition of Indian refiner Essar Oil by a consortium led by Russian oil company Rosneft is expected to be completed in the next few weeks, Essar said in written comments to Reuters on Friday. “The parties are...
