It was a stock that people loved to hate. During the first half of 2008, investors cringed when they saw rallies in the price of oil. As crude surged to $150 a barrel last year, equity investors bemoaned the hit, and worried and gossiped about the outlook for consumer-oriented firms which would need to spend more on gas. Then the tide turned.
Russia’s top oil producer, Rosneft, will not buy a stake in Imperial Energy, which India’s state-run ONGC is acquiring, Indian government and ONGC sources said. For full story, click here
State-run Indian Oil Corp is planning to buy a sugar mill and set up a refinery in Brazil to produce ethanol. For full story, click here
In a boost to ONGC Videsh’s bid to buyout Imperial Energy, Russia said it will not set any pre-condition like a stake for its state-run firms in exchange for giving approval to the acquisition. For full story, click here
In a boost to ONGC Videsh’s bid to buyout Imperial Energy, Russia said it will not set any pre-condition like a stake for its state-run firms in exchange for giving approval to the acquisition. For full story, click here
TransAtlantic Petroleum Corp. says that it wants to make an all cash takeover offer for all of the shares in Incremental Petroleum Limited. For full story, click here For TransAtlantic’s website, click here
Indian exploration company, ONGC, has said the present financial crisis will not affect its plans to buy UK’s Imperial Energy Plc for £1.4 bn. ONGC Chairman, R S Sharma, said: We’ll not be entirely dependent on the bridge loan….That was as a matter of due diligence that we wanted to have bankers also, those who [...]
Get our independent commentary on oil trends and companies delivered to your inbox.
