Oil / Gas Exploration / Production
Oil and Natural Gas Corporation Ltd's ONGC Videsh Ltd Withdraws Press Statement On Mozambique Deal Along With Oil India Ltd-Business Standard
Business Standard reported that After announcing a major deal, Oil and Natural Gas Corporation Ltd's ONGC Videsh Ltd withdraws press statement that said it along with Oil India Ltd will buy Videocon Industries Ltd's 10% stake in Mozambique gas field for $2.475 billion. The acquisition is to be done through a joint venture of OVL, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC) and OIL, the earlier statement issued by ONGC said. OVL will hold 60% stake in the joint venture while OIL will have the remaining 40%.
ONGC Videsh Ltd And Oil India Ltd To Buy Stake In Mozambique Gas Field For-INR140 Billion-Business Standard
Business Standard reported that ONGC Videsh Ltd and Oil India Ltd have agreed to buy a 10% stake in a Mozambique oil and gas field from Videocon Industries for about INR140.00 billion. The acquisition will be implemented through a new entity, in which ONGC Videsh and Oil India are expected to hold 60% and 40% stakes, respectively, said a statement from ONGC.
YPF SA, Pluspetrol Resources Corporation BV And Pluspetrol Energy SA Sign Agreement To Divide Pluspetrol Energy SA And Allocate Part Of Its Assets In New Company
YPF SA (YPF) announced that on June 4, 2013 the Company, Pluspetrol Resources Corporation BV (PPRC) and Pluspetrol Energy SA (PPE) signed an agreement to divide PPE, without dissolving, and allocate part of its assets in a newly created company. Consequently, YPF will not hold a stake in PPE and PPRD will not receive the shares of the new company. The total amount of shares will be held by YPF and other company controlled by YPF. In addition, the Company announced that on June 5, 2013 the shareholders of PPE approved the division and creation of the new company.
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