BP wants to sell 8.5 per cent stake in Indian subsidiary Castrol India through a block deal worth Rs.1,750 crore.
The share sale at an indicative range of Rs.408 - Rs.422.50 per share.
Tag: BP
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BP looks to sell 8.5percent stake in Castrol India
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BP looking to sell 8.5% stake in Castrol India
BP is looking to sell 8.5 per cent stake in Indian subsidiary Castrol India through a block deal worth Rs1,750 crore. The share sale is happening at an indicative range of Rs 408 - Rs 422.50 per share. Shares of Castrol India declined 4.5 per cent to Rs 422.45 after the announcement.
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Oil & Gas Stepping on the Gas
The complete deregulation of diesel prices and the announcement of the new gas pricing formula are bound to give a fillip to the oil & gas sector in the country. Finally, the oil & gas sector has been visited by the ĆĀ“reforms
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RIL, BP to invest Rs 800 cr in Tamil Nadu
RIL, along with its partner British Petroleum, plans to invest about Rs 800 crore to carry out exploratory drilling in an offshore block in the Bay of Bengal.
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Govt okays RIL-BP’s plan to invest $3.18 bn in KG-D6 block
A plan of Reliance Industries and BP has been approved by the Union government to invest $3.18 billion in R-series gas field in the KG-D6 basin in Andhra Pradesh, which is expected to produce up to 13 million standard cubic metre gas, said the government and industry officials. As per the approved plan, the field is estimated to hold about 1.2 trillion cubic feet of recoverable gas reserves.
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IGS to supply gas to India
Global oil and gas major BP plans to sell some of the US Freeport liquefied natural gas (LNG) in India through its joint venture firm Indian Gas Solutions (IGS). It may be recalled that IGS is a joint venture between BP and Mukesh Ambani-promoted Reliance Industries,. BP earlier agreed to buy 4.4 mn tpa of liquefaction tollin
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Govt must pursue investor friendly policies in oil and gas sector
Some analysts attribute the abandoning of 15 oil and gas blocks by BP and Reliance Industries (RIL) to unfriendly investor policy of the government. But BP termed the relinquishment of blocks as a routine "portfolio management" exercise. These 15 blocks are part of the 21 blocks for which BP struck a $7.2-billion deal. According to industry observers, the development does not augur well for the dom
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MRPL diversifies source of oil import
Global oil firm BP is learnt to have sold 650,000 barrel of Nigerian Okoro crude oil to MRPL for June 1-15 via a tender at a premium of about $5.60 a barrel to dated Brent. MRPL has also reportedly bought 650,000 barrels of Gabon's Rabi light sweet crude oil in a previous tender from Shell for May lifting at a premium of about $3.30 a barre
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RIL’s US shale assets produce 11 mmscmd gas
Reliance Industries (RIL) produces 11 million standard cubic metre per day (mmscmd) of natural gas from its shale gas operations in the United States. This is higher than the company's share of 9.6 mmscmd gas from its Krishna Godavari basin (KG D6) in the Bay of Bengal. While gas output from KG Basin is a littl
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RIL submits proposal to relinquish low prospectivity area
Reliance Industries (RIL) has submitted to the government a proposal to relinquish low prospectivity area in its eastern offshore KG-D6 block, the company informed this in an investor presentation. Out of a total of 7,645 sq km in KG-DWN-98/3 or KG-D6 block, only 3,412 square kilometer of area will be retained, the firm