Oil firm Occidental Petroleum Corp would be selling minority shares in some of its operations to increase shareholder value.
Energy
Top officers of China Solar Energy Holdings Ltd arrested
The Chairman and two other senior executives of China Solar Energy Holdings Ltd were arrested by Chinese authorities.
Chevron Corp files case in NY federal court on Ecuador case
Trial began Tuesday for the case filed by Chevron Corp against villagers in Ecuador and their lawyer Steven Donziger.
British Petroleum and Reliance Industries to invest in oil and gas industry in India
Fresh investments were promised by BP and Reliance Industries in oil and gas. The top executives of BP and Reliance Industries, CEO Bob Dudley and Chairman Mukesh Ambani respectively, jointly promised fresh investments worth up to USD10 billion in oil and gas.
NRG Energy acquires assets from Edison Mission
An agreement was signed between NRG Energy and Edison Mission for assets worth USD2.64 billion. The largest independent power producer in the United States, NRG Energy Inc, had entered into an agreement to purchase most of the assets of the bankrupt Edison Mission Energy.
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A payment of USD260.7 million was paid to Berkshire Hathaway for the exercise of its warrants from General Electric Co.
The consortium comprising of Indian Oil, ONGC Videsh and Oil India, as well as Repsol SA, would not be exercising the right of pre-emption of the vacated shares in the oil project previously owned by Petronas of Malaysia.
A second project between Dow and ERB has been agreed upon where the power plant would utilize sugar cane residue as fuel for electrical power.
The plan is to raise funds from a share sale of Huaneng Renewables Corp. Wind farm operator from China, Huaneng Renewables Corp, is planning to raise HKD1.
A number of top notch companies have sent their bids to build Mongolia's Tavan Tolgoi Power Plant.
Secured lenders at Texas Competitive Electric Holdings and unsecured bondholders at Energy Future Intermediate Holdings (EFIH) were in a deadlock about their confidentiality agreements due to Energy Future Holdings' USD250 bond debt payments due on November 1.
Tokyo Gas said it would looking at majority stake purchases for mid-sized LNG projects in Southeast Asia or Africa to bring down import costs.
By utilizing shale gas reserves in the country, Saudi Arabia can use the now popular energy resource for local purposes and use its oil for exclusively for export purposes.
In order to block the bid of Sinochem, OVL and Shell filed notice of purchase on the USD1.543 billion oil block interest from Petrobras.
