An ONGC oil platform. The merger will give the company more flexibility to invest in the upstream. (ONGC) Companies & Finance

ONGC acquires HPCL to bolster Indian upstream

India has sanctioned the acquisition of one its largest downstream oil companies by ONGC as it seeks to create a state-owned energy company able to compete on a global scale.

By Andrew Walker 25 July 2017
Companies & Finance

Heads of Eni and Qatar Petroleum meet in Doha

Eni Chief Executive Claudio Descalzi met Saad Sherida al-Kaabi, president and chief executive of Qatar Petroleum, in Doha on Sunday.

24 July 2017
Companies & Finance

Snam signs MOU with Greece’s EDA Thess

Italian TSO Snam has signed a memorandum of understanding with Greek gas distributor EDA Thess, which serves the Thessaloniki and Thessaly regions.

24 July 2017
Companies & Finance

Greece extends deadline for expression of interest in DESFA

The deadline for potential buyers to express their interest in a 66% stake in the Greek gas grid has been pushed back until 7 August.

24 July 2017
Companies & Finance

Argentina settles legal dispute with Total

Argentina has settled a legal dispute with Total over what the supermajor claimed was $1 billion in losses.

21 July 2017
Companies & Finance

ADB invests $50 mln in Grimm

The Asian Development Bank has invested more than $50 million in one of Thailand’s largest independent power producers, B Grimm Power Public.

21 July 2017
Companies & Finance

BP starts talks to sell all North Sea assets

BP has started discussions with potential buyers for its full range of North Sea assets.

21 July 2017
Companies & Finance

Canada’s Hydro One buys Avista for $5.3 bln

Toronto-based utility Hydro One has acquired Washington-based gas and power transmission company Avista Corp.

20 July 2017
Companies & Finance

India approves sale of HPC stake to ONGC

India’s government has approved the $4.6 billion sale of its stake in Hindustan Petroleum Corp. to Oil and Natural Gas Corp.

20 July 2017
Companies & Finance

Energean signs up third customer for Karish gas

Greek exploration and production company Energean has signed up a third customer to buy gas from the Karish field off the coast of Israel.

20 July 2017
Vietnam is exploring for oil and gas in the South China Sea. (PetroVietnam) Companies & Finance

Opportunities as South China Sea spat simmers

Oil and gas developments are being used by Southeast Asian countries to gain the advantage in disputes with China over contested waters.

20 July 2017
A combined heat and power plant in Austria. (Siemens) Companies & Finance

Power sector secures lion’s share of €4.3 bln EIB loan

The European Investment Bank approved €4.3 billion of loans for energy-related projects this week, with the majority going to the electricity sector.

20 July 2017
Companies & Finance

YPF, Total and others announce $1.15 bln Vaca Muerta investment

YPF, Total, Wintershall Energía and BP-owned unit Pan American Energy are making a joint investment of $1.15 billion to increase shale gas production in Argentina‘s Vaca Muerta formation.

19 July 2017
Work on the Power of Siberia pipeline, which will deliver gas to Beijing. (Gazprom) Companies & Finance

Siberian gas set to shore up Beijing’s supply mix

Gas from a Rosneft subsidiary looks set to be piped to Beijing early next decade following a deal with the major gas distributor for China’s capital.

19 July 2017
Companies & Finance

Petrobras production up 2.9% in H1

Petrobras’s domestic and foreign oil and gas production increased by 2.9% in H1 2017 compared with the same period in 2016.

18 July 2017
Companies & Finance

Indian Oil Corp. plans to form oil giant with Oil India Ltd buyout

Indian Oil Corp. is in talks to buy out the government’s stake in Oil India Ltd and form an oil giant.

18 July 2017
Companies & Finance

Exxon leaves Indonesia gas field

ExxonMobil has walked away from the East Natuna gas field in Indonesia.

18 July 2017
Companies & Finance

Toyo Engineering to develop Salman field

Japan’s Toyo Engineering Corp. has signed an agreement with National Iranian Oil Co. and Petropars to develop the offshore Salman oil and gas field in the Gulf.

18 July 2017
Companies & Finance

Enagás profits up 25.6% in H1 2017

Spanish energy company Enagás made a net profit of €269.1 million in the first half of the 2017 financial year, a 25.6% increase from the same period last year.

18 July 2017
Contractors' margins have been squeezed since oil prices fell. (SCP Oilfield Services) Companies & Finance

Industry must evolve to avoid supply gap – Burke

Caution following the drop in oil prices is set to leave a worrying gap in oil and gas supplies, warns Ray Burke, global product leader at GE.

18 July 2017
Companies & Finance

Chilean distributor GasValpo up for sale

Australian infrastructure fund Whitehelm Capital has put Chilean gas distributor GasValpo up for sale.

17 July 2017

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