Fortune Global 500 and Malaysian oil company Petronas will be divesting its shale gas assets in Canada's Progress Energy Resources Co. Petronas was reportedly selling part of its stake to Indian Oil Corp.
Energy
Venezuela's PDVSA to sell bonds to shore up dollar reserves
Petroleos de Venezuela SA is set on selling USD4.5 billion worth of bonds to increase scarce international reserves as well as curb the fastest rising inflation rate in the world.
Top deals of the day - M&As
The following bids, mergers, acquisitions and disposals were reported on Tuesday. Top Russian oil firm Rosneft said it would sell about $6 billion worth of refined products to BP, establishing the British major among its biggest buyers after years without any such deal.
Solicore announces closure of Series A funding round
Solicore announced the first closure of its preferred shares A1 financing round with the participation of both new and existing investors to raise USD4 million in funding.
Harvest Natural says liquidity concerns weigh on sale prospects
Oil and gas producer Harvest Natural Resources Inc said near-term liquidity constraints could hurt its ability to negotiate best possible terms to sell itself or its assets, sending its shares down as much as 32 percent.
Latest News
Fortune 500 Western Refining Inc. was negotiating a purchase of a majority stake in Northern Tier Energy LP for USD775 million to capitalize on the rising oil production in the US.
A new CEO was recently installed for billionaire Eike Batista's OSX as it prepares itself for bankruptcy and other legal processes, according to its lawyers.
Dynagas LNG Partners LP's business was directly proportional to the performance of its 3 LNG (Liquefied natural gas) carriers and existing charters with Gazprom and BG Group.
Kenya's Treasury Secretary Henry Rotich confirms the sale of as much as USD2 billion worth of Eurobonds for the country's debt payments and energy projects.
The Indian government planned to gather USD 2.3 billion through a share sale of its two state-owned firms to boost public coffers, according to sources interviewed by Reuters.
Seplat Petroleum Development Co said it planned a dual stock listing for the Nigerian oil firm. Nigeria-based oil firm Seplat Petroleum Development Co said it was thinking of listing its shares on two bourses.
Two unnamed sources said India would be selling 10% of its stake in Indian Oil Corp. India planned to sell 10% of its stake in Indian Oil Corp. That would amount to USD800 million, two sources familiar with the matter said.
Deutsche Bank AG said that new rules would not foster business but in the past week alone it had agreed on a couple of business related loans.
Amidst rumors of a pending bankruptcy filing, secured bonds of OSX Brazil now trade at a two month high.
