Marubeni-Itochu Steel announced its purchase of US pipes trader Sooner Inc for USD 600 million. Marubeni-Itochu Steel Inc said it would purchase Sooner Inc for USD 600 million.
Energy
Saudi Aramco-Total joint venture to offer first fuel- sources
Sources told Bloomberg that the joint venture firm of Saudi Aramco and Total, Satorp, would be putting its first fuel up for sale this month.
PetroChina wants to invest in Russian gas fields- sources
Sources told Bloomberg that PetroChina Co has set aside USD 10 billion to invest in gas fields in Russia.
Ecuador deficit activates plan to tap into USD18 billion oil in Yasuni National Park
Rafael Correa, President of Ecuador, would be relying on USD18 billion worth of oil resources inside the Yasuni National Park to save the country from going bankrupt.
Petronas pulls out of Carabobo Oil Project in Venezuela
The Malaysian state run oil firm informed the Venezuelan government of its withdrawal from the Carabobo-1 oil project.
Latest News
Andre Esteves' Grupo BTG Pactual exercised option to purchase MPX Energia shares. The investment bank controlled by tycoon Andre Esteves, Grupo BTG Pactual, had announced the exercise of an option to acquire 28.
KUFPEC is looking at overseas assets to expand its oil assets and reserves. Kuwait has sought to purchase oil related properties internationally, such as as in Southeast Asia in order to meet output targets.
In an expected move, Versace is set to sell minority shares. The Italian luxury goods house Versace was, eariier this year was in discussion with a sale to Qatar, contracted to privately sell a minority stake in 2013.
KazMunaiGaz purchases Kashagan oil field shares for Kazakhstan. Soon after the blocking the USD5 billion deal for ONGC Videsh Ltd, Kazakhstan soon transferred a 8.
The pipeline from oil shale formations and oil sands is being opposed by hedge fund founder. Billionaire Tom Steyer threw his support behind a four part advertising campaign that intends to convince its viewers that the Keystone XL pipeline would hurt the economy and the communities around it.
Allegations of anti-competitive activity would be investigated on by the European Commission. A formal statement is being prepared by the European Commission for Gazprom to inform them that allegations have been raised regarding anti-competitive gas pricing.
Foreign companies in China strengthened their compliance of laws as authorities continue their antitrust and corruption probes.
Reuters reported that that the ruling governments of Australia and Norway would face possible defeat in polls set for this month.
A new set of bidding guidelines will be utilized for the newest ultra mega power projects for the next decade.
