Several EoIs received for BPCL sale, giants RIL, Aramco, BP not in race
NEW DELHI: The much-anticipated privatisation process of the Bharat Petroleum Corporation Ltd (BPCL) completed its first phase on Monday with several suitors submitting Expressions of Interest (EoIs). However, sources said that major energy giants including Reliance Industries, Saudi Aramco and UK’s BP have not placed bids for the state-run oil major. The transaction will move […]
Saudi Aramco raises IPO to record $29.4 billion with over-allotment of shares
DUBAI: State-owned oil company Saudi Aramco said on Sunday it has exercised its “greenshoe option” to sell an additional 450 million shares, raising the size of its initial public offering (IPO) to a record $29.4 billion. Aramco initially raised a then-record $25.6 billion in its IPO in December by selling 3 billion shares at 32 […]
Drone attacks strike major Saudi Aramco facility, oilfield
DUBAI: Drone attacks targeted a major Saudi Aramco processing facility and oilfield in eastern Saudi Arabia Saturday, the Interior Ministry said, sparking a huge fire at one of the sites before dawn. No one immediately claimed responsibility for the attack, which comes amid previous drone attacks by Yemen’s Houthi rebels. It wasn’t clear if there […]
Reliance to sell stakes for Rs 1.15 lakh crore to become zero-debt firm in 18 months
NEW DELHI: Richest Indian Mukesh Ambani on Monday announced plans to sell stakes in his flagship Reliance Industries’ oil and chemical business to Saudi oil giant Aramco and in fuel retail network to BP plc of UK for a combined Rs 1.15 lakh crore as he looked to make his company a zero-net debt […]