The Indian government approved a deal under which ONGC Videsh is to buy 8.4% stake in Kashagan, the largest so far discovered field in Kazakhstan. The Indian company will pay USD 5.5bn for the stake to ConocoPhillips. The deal needs to be authorized by the Kazakh authorities which recenlty postponed decision on the issue to Jul 2.
ONGC and ConocoPhillips reached an agreement on Kashagan in November last year. The finalization of the deal is still doubtful. There are speculations that the Kazakh government may veto the deal in order to buy the stake by itself and later to sell it to Chinese CNPC.
Moldovan businessman Anatolie Stati’s spokeswoman said on January 9 that Stati will ask bailiffs to sell a $5.2bn stake in the Kashagan oil field owned by Kazakh sovereign ... more
Romanian gas transport company Transgaz has teamed up with Spain’s Regasificadora del Noroeste in an attempt to take over its Greek peer DESFA, where the Greek state has put a 66% stake up for ... more
Poland’s state-controlled oil and gas company PKN Orlen has launched an offer to take over Czech refiner Unipetrol, the Polish company said on December 13. PKN Orlen said it will go through with ... more