Russia's largest oil company Rosneft is all set to buy a 50% stake in TNK-BP from BP for a total consideration of about 55 billion.
Energy
Entrepreneurs plan D.C. road trip to talk up immigration reform
The skilled-worker visa reform the entrepreneurs want is relatively uncontroversial San Francisco-based entrepreneur Garrett Johnson is usually too busy with his messaging start-up for much travel, but one issue has inspired him to cross the country: immigration reform.
Deals of the day — mergers and acquisitions
Bids, mergers, acquisitions and disposals reported on Wednesday The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:- Private equity firm Electra has hired Rothschild to explore a sale or a refinancing of electronic animal identification company Allflex, which is worth about $1 billion, four industry sources with knowledge of the plan said.
BCM Energy Acquires 22 Leases & 42 Wells in a Deal Valued at $2.8 Million
BCM Energy Partners has signed a Purchase and Sale Agreement to acquire leases, wellbores and existing production in East Texas
Santacruz Silver Ups Size of C$30M Bought Deal Share Financing
Santacruz Silver Mining enters into C$30 Million bought deal common share financing Santacruz Silver Mining Ltd. (TSXV: SCZ) entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp.
Latest News
The U.S. government banned BP Plc from new federal contracts on Wednesday over its "lack of business integrity" in the Deepwater Horizon oil spill in 2010, a move that could imperil the British energy giant's U.S. footing.
The U.S. Justice Department should investigate whether oil refineries created a perceived shortage of gasoline supply in May and October of this year when West Coast prices spiked to record highs, six Democratic senators said on Tuesday.
California, long the national leader in clean energy policy, is poised to double down on its investments in the sector, with billions in new subsidies set to flow in over the next few years.
Germany's largest utility, E.ON AG, warned it was reviewing its earnings outlook for 2013, citing weak economic conditions that have hurt the energy industry.
Penn West Petroleum Ltd shares were down as much as 4.7 percent on Tuesday after the company fired four senior executives, including its chief operating officer.
As the Northeast United States locks down in the path of Hurricane Sandy, the freakishly large tropical storm careening in from the Atlantic, the main impact is likely to be on fuel demand rather than supply.
A $500-million "green jobs" program to train U.S. workers for new jobs and help spark recovery from the great recession has fallen far short of its goals, according to a report from the Labor Department's internal watchdog released on Friday.
Despite objections by the government, Solyndra, the California-based solar panel manufacturer that went bust in August 2011 after receiving $528 million in federal loan guarantees, received approval Monday to go ahead with its bankruptcy plan, Reuters reported.
Waltham, Massachusetts-based electric car battery manufacturer A123 Systems Inc. filed for Chapter 11 bankruptcy protection Tuesday, The Wall Street Journal reported. The company's collapse has been called a setback for the Obama administration's efforts to foster a domestic market for electric vehicles running on U.S.-built batteries.
