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The oil company, Rosneft, will buy 25.94 percent of TNK-BP's oil exploration unit from Interros Holding, which is owned by Mr. Potanin and another Russian billionaire, Mikhail Prokhorov.
REUTERS Reliance and Apollo Said to Eye El Paso Unit | Apollo Global Management, the private equity firm, and Reliance Industries, an Indian conglomerate, are among companies looking to buy an oil exploration unit of the El Paso Corporation, Bloomberg News reports, citing unidentified people with knowledge of the matter.
Earlier this year Ashland Inc., the $12 billion oil refiner, avoided a proxy fight with Denton by agreeing to divest its oil exploration unit and seek merger opportunities for its refining business.
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The parent company will hold on to Thrifty Drug for now, but is seeking buyers for Big 5 and four other retail chains, as well as its oil and gas exploration unit.
DealBook » German Power Company Said to Hire Deutsche Bank | RWEWE, a German utility company, has hired Deutsche Bank to market its oil and natural gas exploration unit, worth an estimated $10 billion, Bloomberg News reports.
Today Sinclair is a partner in more than 20 oil wells that Union Pacific Resources, the exploration unit of Union Pacific Corp., is in the process of drilling in Wyoming.
Mittal Energy has a venture with Oil & Natural Gas, an Indian company that has offshore oil exploration blocks in Nigeria, according to the company's overseas unit.
It is separating its oil exploration and production, drilling rig, and oil tanker businesses into a new energy unit to be spun off, sold, or merged with other companies.
With the relaxing of limits on oil exploration, overseas companies will be allowed to set up wholly owned oil and gas units.
The Company's primary focus is oil exploration and production through non-operated working interests in wells drilled and completed in spacing units that include its acreage.
HALLIBURTON CO., Dallas, the world's largest oil field services company, and its rival DSND Subsea, Oslo, said they would merge their underwater units in an equally shared joint venture to meet an expected increase in demand for underwater oil exploration and production.
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