ICVL to finalise overseas coal acquisition deal soon

Business Line 21 September 2012 Hyderabad: International Coal Ventures Ltd, a joint venture company floated by five cash-rich state-owned companies to buy coal assets overseas, is likely to finalise at least one deal by the end of this fiscal. C.S. Verma, Chairman of...

BP may buy Rosneft stake as part of TNK-BP exit

Reuters 21 September 2012 SOCHI, Russia, Sept 21 (Reuters) – British oil company BP wants to buy a stake in Russian state-controlled peer Rosneft, adding a new dimension to a long-running struggle for control of a big chunk of the country’s oil production....

Rosneft Seeks to Raise $15Bln to Buy Into TNK-BP

Moscow Times 19 September 2012 Rosneft is talking to banks about raising $15 billion in debt financing as it inches toward a deal to buy BP’s one-half stake in TNK-BP, bankers said Wednesday. Rosneft and the British oil company briefed President Vladimir Putin...

Jindal Steel acquires CIC Energy for Rs 650 cr

Business Line 5 September 2012 Jindal Steel and Power Ltd (JSPL) has acquired Canadian listed firm CIC Energy Corp for Rs 650 crore ($115 million). The acquisition will give JSPL access to CIC’s estimated six billion tonnes thermal coal assets in Botswana. Following...

LUKoil Ups Stake in Italian Refinery to 80% for €400 Mln

RIA Novosti 4 September 2012 Russian oil company LUKoil has closed a deal to buy a 20 percent stake in the ISAB refinery in Sicily from Italy’s ERG in a deal worth €400m, the company said on Tuesday. The deal increases LUKoil’s stake in the facility to 80...