Total has agreed to dispose its 100% stake in Total Participations Petrolieres Gabon (TPPG) to Perenco for $350m.
TPPG holds stakes in ten fields, which yield approximately 13,000 barrels a day, net to Total.
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Under the terms, Perenco will also acquire interests in five fields and the pipeline network from Total Gabon (TG), a subsidiary of Total.
The acquisition will allow Perenco to expand its assets base in Gabon, while the divestiture will enable Total to concentrate on its main strategic operated assets.
TransCanada Corporation plans to dispose 49.3% stake in Iroquois Gas Transmission System (Iroquois) and remaining 11.81% interest in Portland Natural Gas Transmission System (PNGTS) to TC PipeLines.
The 670km-long, Iroquois, interstate natural gas pipeline is jointly owned by affiliates of TransCanada and Dominion Resources.
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By GlobalDataThe PNGTS is a 474km-long, high-capacity, high-pressure, interstate natural gas pipeline owned by TC PipeLines (49.9%), Gaz Metro (38.29%) and TransCanada (11.81%).
The divestiture will allow TransCanada to fund its near-term capital programme.
Rosneft Oil Company intends to dispose its 51% stake in Grozneftegaz and other assets based in Chechnya to the Government of the Chechen Republic. The deal involves a sale consideration of $215m, according to sources.
Grozneftegaz conducts business in fields of exploration and production, refining, distribution, and export of petrochemicals and petroleum products.
Oil and Natural Gas Corporation (ONGC) plans to acquire 51.11% stake in Hindustan Petroleum Corporation (HPCL) from the Government of India. The deal involves a purchase consideration of approximately $4.4bn, according to Bloomberg.
HPCL’s major assets include two refineries located in Mumbai and Visakhapatnam, India, with a combined capacity of 14.8 million metric tonnes per annum (mmtpa) and a lube refinery with a capacity of 428,000 metric tonne of Lube base oils.
Additionally, ONGC intends to acquire 26% stake in HPCL for approximately $2.2bn through an open offer, according to sources.
The sale is in line with the Government of India’s strategy to create an integrated public sector oil entity.
Hyduke Energy Services has agreed to acquire Western Manufacturing. The $4.17m deal will be funded by Hyduke Energy through a combination of cash and equity.
Western Manufacturing manufactures production vessels and related equipment.
The transaction also covers the acquisition of assets owned by Ledarco Industries, an affiliate of Western Manufacturing.
Scheduled for completion on or before 30 April, the transaction will allow Hyduke Energy to expand its business operations.
