Rosneft buys TNK-BP for over US$40 billion. If all goes according to plan, Rosneft would be taking over control over its major rival, TNK-BP. The two Russian oil companies would then complete the oil industry's biggest takeover in history, three months before the agreed upon deadline.
Tags: Oil
JP Morgan Chase Advises Cut Backs in Russian Investments
JP Morgan advises investment cutbacks in light of Gazprom dividend and other factors. JP Morgan Chase & Co has advised its clients to reduce its shareholdings in Russian stocks as OAO Gazprom has proposed a dividend cut.
Oando CEO Reassures Funds for Takeover Available in Nigeria
Oando is purchasing ConocoPhillips assets in Nigeria and many see the firm struggling to find the equity for investments purposes.
Canada's Candur Plans IPO for Oryx Petroleum
Jean Claud Gandur planning to offer Oryx Petroleum for IPO in Toronto. Billionaire investor Jean Claude Gandur, through his company Addax & Oryx Group is now on its way to publicly list its oil exploration unit.
Bahri to fund Vela purchase with sukuk bonds
Bahri's purchase of Aramco's Vela fleet now needs to be paid through sukuk bond issue. Saudi Arabia's National Shipping Co's acquisition of Saudi Aramco's marine subsidiary placed it in debt.
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OGX denies Petronas shares sale OGX Petroleo e Gas SA, the Brazilian oil company, has allayed fears and rumors that it is selling its shareholdings in Petronas, the Malaysian state owned oil company.
