In a move that reduces the hurdle for ONGC Videsh's $5 billion bid to acquire ConocoPhillips' stake in Kashagan oilfield of Kazakhstan, one of the field operator Eni has publicly stated that it will not pre-empt or block the acquisition.
Italy's Eni is the operator of the first phase of the Kashagan oilfield that is due to start production in second quarter
Tag: acquisition
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Eni waives pre-emption rights in favour of OVL
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Asian firms to compete with India for overseas assets
Reports suggest that Indian oil companies that attempt to acquire overseas energy assets may find stiff competition from Asian countries like Japan and China. Oil companies in Japan are said to be on a quest for upstream assets overseas, often with strong state support as the government tries to reduce reliance on atomic power after the Fukushima disaster. China, which was a major crude oil importer from Iran, had to reduce reliance on oil from the Gulf company follo
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Govt may offload 10% stake in Oil India by Jan 15
The 10 percent stake sale in Oil India, through which the government aims to garner Rs 2,500 crore, may be completed by January 15, reports suggest.
It is learnt that there is consensus between finance and oil ministries on the stake sale date. The oil ministry had earlier expressed reservations over bringing issues of oil sector companies "in a hurry", saying at least two offers for s
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NHAI to secure land, nod before starting road projects
In view of delay in several road projects owing to land acquisition issues, National Highways Authority of India (NHAI) henceforth decided to start road projects only after acquiring substantial land. The authority would also ensure that environmental clearance is in place before starting projects. Through this move, NHAI wants to ensure that once a project starts on ground there is no brake and the objective is timely com
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ArcelorMittal signs $447 mn sale pact
ArcelorMittal has entered into a sale and purchase agreement (SPA) with the head of its joint venture partner Kalahari Resources for sale of its 50 percent stake
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Jaipur metro project faces land acquisition issue
Reports suggest that the phase-II work of the Jaipur Metro Rail Project, which is likely to commence may face delay because of issues with land
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ONGC’s stake sale in KG block awaits govt nod
The sale of 26 per cent stake by Oil and Natural Gas Corporation (ONGC) in its KG Basin exploration block to a Japanese firm is awaiting the approval of the centr