NuStar Energy has agreed to acquire Navigator Energy Services through its wholly owned subsidiary NuStar Logistics from FR Navigator Holdings.

The $1.47bn-worth deal will be funded by NuStar through cash in hand, proceeds from securities offerings, borrowings under a revolving credit agreement and a bridge facility.

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Navigator Energy has received a $250m equity commitment from First Reserve Infrastructure Fund. The company owns and operates crude oil transportation pipelines, gathering and storage assets located in the Midland Basin of West Texas.

Navigator Energy has appointed Deutsche Bank Securities as financial advisor and Simpson Thacher & Bartlett as legal advisor for the transaction.

Scheduled for completion by May, the transaction will allow NuStar to enter midstream operations in the Permian Basin.

Rosneft Oil Company has completed the acquisition of 100% stake in Kondaneft from NNK for a purchase consideration of $697.2m.

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“Rosneft Oil Company has completed the acquisition of 100% stake in Kondaneft from NNK for a purchase consideration of $697.2m.”

Kondaneft is currently developing oil licences areas, including Kondinsky, Zapadno-Erginsky, Chaprovsky and Novo-Endyrsky, in the Khanty-Mansiysk Autonomous District, Russia.

The combined proven plus probable reserves of the fields are estimated at 157mmt of oil, according to international reserves audit conducted by DeGolyer and MacNaughton.

The acquisition forms part of Rosneft’s strategy to optimise the efficiency of resource development in the main oil and gas producing region.

Hellenic Republic Asset Development Fund (HRADF) plans to dispose its 35.5% stake in Hellenic Petroleum (HELPE).

HELPE is engaged in the exploration and production of hydrocarbons. The company also refines and markets oil and petrochemical products.

HELPE is currently owned by Paneuropean Oil and Industrial Holdings (45.5%), HRADF (35.5%), institutional investors (11%) and private investors (8%).