SHELL ACQUISITION BP
European shares edge lower as investors await tariff updates
In a TV interview aired on Sunday, Trump said he would not attempt to remove Fed Chair Jerome Powell but repeated calls for lower interest rates and called the Chair a "stiff".
Oil slumps after OPEC+ plan, US stock futures drop
Crude oil fell 3.4% after the group of oil-producing nations continued an accelerated revival of supply that’s sent prices plunging. US equity-index futures dropped 0.5%, extending their decline after US President Donald Trump said he had no plans to talk to his Chinese counterpart this week. There’s no cash trading in Treasuries during the Asian day as Japan is closed for a holiday, along with markets in Hong Kong and mainland China.
Shell looks to capitalise on BP's slide with potential bid
Any final decision will likely depend on whether BP stock continues to slide, the people said. Shares of BP have already lost nearly a third of their value in the last 12 months as a turnaround plan has fallen flat with investors and oil prices tumbled. Shell may also wait for BP to reach out or for another suitor to make a first move, and its current work could help it get prepared for such a scenario, some of the people said.
Saudi Aramco weighs bid for BP’s Castrol lubricant assets, with special interest in $2.5 bn India arm
Saudi Aramco is considering bidding for BP’s Castrol lubricant assets, which could be worth around $10 billion. This acquisition would align with Aramco's strategy to expand in fast-growing markets like India and Southeast Asia, enhancing its position in the global energy value chain.
As crude fades, Big Oil must borrow to pay investors
Four of the five supermajor oil companies are likely borrowing to fund $15 billion in share buybacks due to weakening crude prices and refining margins. With expected earnings dips and decreased free cash flow, doubts grow over the long-term sustainability of these payouts.
ONGC weighs raising stakes in Russian oil despite Shell snub
ONGC, Bharat Petroleum, Indian Oil, and Oil India have also held preliminary discussions among themselves to evaluate buying BP's 20% stake in Russian energy giant Rosneft.
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Shell to sell Russian retail and lubricants business to Lukoil
Energy giant, Shell has announced the selling off its retail and lubricants business to Lukoil as the effect of the Russian invasion of Ukraine. Shell Russia would be sold for an undisclosed amount.
Shell launches major cost-cutting drive to prepare for energy transition
Royal Dutch Shell is looking to slash up to 40 percent off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets.
Shell cuts dividend for first time since World War Two
Shell also suspended the next tranche of its share buyback programme and said it was reducing oil and gas output by nearly a quarter after its net profit almost halved in the first three months of 2020.
BPCL Nationalisation Act repealed; way clear for privatisation
Privatisation of BPCL will shake up the fuel retailing sector long dominated by state-owned firms.
PM Narendra Modi for fresh look at petroleum sector
He met experts and emphasised his vision for a fresh look at the sector, to bring in investment, technological upgradation and development of human resource.
PM Narendra Modi meets oil bigwigs to give fillip to investments
In an interaction with global oil and gas experts including BP Group CEO Bob Dudley and International Energy Agency ( IEA) Executive Director Fatih Birol, Prime Minister Narendra Modi today discussed ways of boosting investments in times of low oil prices.
PM Narendra Modi meets oil bigwigs to give fillip to investments
PM Modi interacted with global oil and gas experts including BP Group CEO Bob Dudley and International Energy Agency Executive Director Fatih Birol.
Essar Energy to exit Kenya Petroleum Refineries Ltd
Essar Energy plc, the India-focused integrated energy company, announced that it intends to exit from its 50% owned joint venture business KPRL.
Essar Energy to exit Kenya Petroleum Refineries
Essar Energy will exit Kenya Refinery by selling its 50% stake to the government of the African nation for $5 million.
India, China battle it out in Mozambique gas fields to secure energy assets
According to an investment banker directly involved in the transaction, Videocon's Venugopal Dhoot is expecting around $2.7 bn for his stake.
ONGC gets project operator's nod for $ 5 billion Kashagan stake buy
Eni, ExxonMobil of US, Royal Dutch Shell, France's Total and Kazakhstan's Kazmunaigas (KMG) hold 16.81 per cent stake each in the field, while Japan's Inpex the remaining 7.56 per cent.
Essar Energy hopes to double revenue in FY12
Essar is implementing a turnaround plan for the refinery which it recently acquired in a $350-million deal from Shell.
Essar Energy in talks for Royal Dutch Shell's stake with Exxon, Chevron, Shell & ConocoPhilips
Essar had bid for Royal Dutch Shell's stake in four Nigerian oil fields but had fallen out of the race when Shell did not find Essar's offers attractive.
BP confident of raising output at RIL's KG-D6 block in 2 yrs
BP Plc said it is confident of raising natural gas production from partner Reliance Industries' eastern offshore KG-D6 block in 2 years.
More M&As in pipeline after Cairn-Vedanta, BP-RIL deals
India’s energy sector is ripe for a wave of M&A deals following the government’s approval of the Cairn-Vedanta deal and BP-Reliance deal.
Shell's Stanlow refinery to make Essar global refining player
London-listed Essar Energy will own close to one per cent of the global oil refining capacity after acquiring Royal Dutch Shell's Stanlow refinery in northwest England for USD 350 million.
BP at risk as share plunge fuels takeover speculation
BP’s failure to stop an oil leak from spewing millions of gallons of crude into the Gulf of Mexico may leave the biggest oil and gas producer in the US in a fight to stay independent.
Essar Oil picks 50 pc stake in Kenya-based refinery
Ruias-owned Essar Oil on Friday announced acquisition of 50 per cent stake in a 4 million tonnes oil refinery in Kenya.
Essar Oil to buy 50% stake in Kenyan refinery
Essar Oil is set to acquire a 50% stake in Kenya Petroleum Refinery (KPRL) in Mombasa.
Russian roulette fails to scare BP bosses
BP, Europe's second-largest oil company, reported a bigger-than-estimated increase in profit on record crude prices and vowed to “vigorously defend” its disputed investment in a Russian joint venture.
Essar may end with just 25% in Kenya Petro
Under the agreement signed between Esmark and Essar, the former will pay a ‘break up’ fee of $20.5 million in case the transaction does not take place.
Essar Oil picks 50% in Kenya Petroleum
Essar Energy Overseas, an Essar Oil subsidiary, has signed an agreement to acquire 50% stake in Mombasa-based Kenya Petroleum Refineries (KPRL), a four million metric tonne refinery.
Essar Oil edges out RIL, BPCL in race for Kenyan refinery
The acquisition of the refinery, located in the coastal city of Mombassa, is expected to give Essar Oil a global footprint.
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