Economics
India's Essar to pay $1.18/share to minority shareholders
NEW DELHI (Reuters) — India's Essar Group will pay $1.18 apiece to the minority shareholders who tendered Essar Oil shares under a delisting offer ahead of the company's sale to a consortium led by Russian oil major Rosneft, the company said.
Iraq sets up oil shipping, trading joint venture
DUBAI (Reuters) — OPEC member Iraq has formed a JV with a shipping company owned by Arab states to transfer, store and trade crude and oil products, according to official documents and industry sources.
US to sell 14 MMbbl of crude oil from emergency reserve
WASHINGTON (Reuters) — The US Department of Energy said on Tuesday it will sell 14 MMbbl of crude oil from the nation's emergency reserve in late August.
Using an improved method of capitalized cost to evaluate alternatives
The method of capitalized cost is often used to determine the most desirable economic alternative. In its most simplified form, it consists of the original cost of an alternative plus the capital cost of a perpetuity needed to generate funds to replace the item at known intervals of useful-life.
Former Mexico oil chief denies taking bribes from Odebrecht
MEXICO CITY (Reuters) — The former head of Mexican state oil company Pemex, Emilio Lozoya, "categorically denied" allegations he received $10 MM in bribes from Odebrecht in exchange for awarding the Brazilian company a contract at a refinery.
Calumet Specialty Products to sell Superior refinery, related assets
INDIANAPOLIS — Calumet Specialty Products Partners, L.P., an independent producer of specialty hydrocarbon and fuels products, announced that it has signed definitive agreements to sell the ownership of its Superior, Wisconsin refinery and various related assets to Husky Superior Refining Holding Corporation, a wholly owned unit of Husky Energy.
Andeavor unit to buy Western Refining Logistics for $1.5 B
(Reuters) — US pipeline operator Andeavor Logistics LP said on Monday it would buy rival Western Refining Logistics LP for $1.5 B as it seeks to expand into the Permian Basin in Texas and New Mexico.
US senators urge Trump to avoid blockade of Venezuela oil shipments
WASHINGTON (Reuters) — Four US Senate Republicans from oil refining states urged the Trump administration on Thursday to not block oil shipments from Venezuela as part of US sanctions against the country, saying it could raise costs for US fuel consumers.
Australia antitrust regulator raises flags on BP Woolworths petrol buyout
(Reuters) — Australia's antitrust regulator said on Thursday it was concerned BP Plc's plan to buy the petrol stations of grocery giant Woolworths Ltd would hurt competition, a sign it may block the $1.4 B deal.
Vietnam refinery operator plans $84 MM IPO, eyes 49% strategic sale
HANOI (Reuters) — Vietnam's sole refinery operator Binh Son Refining (BSR) plans to sell 4% of its shares in an initial public offering in November and to sell another 49% of its shares to strategic investors next year, its chairman said on Thursday.
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- Hygenco selects Topsoe as technology provider for green ammonia production 11/26
- IAG announces new E-SAF deal with Infinium, remains on track to deliver 2030 target 11/26
- Aviation sector officials warn of Trump effect on green jet fuels 11/26
- Russia's oil and gas revenue down by a third in November m/m 11/26
- Contentious COP29 deal shows climate cooperation fraying at edges 11/26
