Bad days for national oil companies to continue, Fitch says

November 5, 2016

Dateline 2016-09-21, Zee Biz:

The National Oil Companies (NOCs) in South and South-East Asia unlikely to return to positive free cash generation in the next two years, said a Fitch Ratings report.

Most of the NOCs reported poor financial result for the first half or first quarter ended on June 30 due to a fall in average oil and gas prices from a year ago. Revenue and EBITDA declined over this period for Malaysia’s Petroliam Nasional Berhad (PETRONAS); Thailand’s PTT Public Company Limited; and India’s Oil and Natural Gas Corporation Limited (ONGC) and Oil India Limited.

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ONGC denies bidding for Murphy Oil’s Malaysia assets

October 19, 2014

Dateline 2014-08-07, Daijiworld (wha?):

State-run explorer Oil and Natural Gas Corp (ONGC) Thursday described as “unsubstantiated media speculations” recent reports on its bid for Murphy Oil’s Malaysia assets.
A foreign agency had reported that explorers ONGC and Oil India (OIL) had made a $105 billion joint bid for Murphy Oil Corp’s Malaysian oil and gas assets.
“ONGC/ONGC Videsh, as a policy do not comment on unsubstantiated media/market speculations,” ONGC said in a stock exchange filing.

 

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ONGC, Oil India bid $1.5 bln for stake in Murphy Oil’s Malaysia assets

October 11, 2014

Dateline 2014-07-31, Business Standard:

State-owned Oil & Natural Gas Corp and Oil India Ltd have submitted a joint bid worth about $1.5 billion to buy a stake in Murphy Oil Corp’s Malaysian oil and gas assets, sources directly involved in the process said.

Arkansas-based Murphy, which has interests in oil and gas fields in Malaysia, Vietnam, Indonesia, Brunei and Australia, has invited bids for a 30 percent stake in its Malaysian assets, Reuters previously reported.

If successful, ONGC, India’s largest oil and gas exploration company, will own a 20 percent stake in the assets, while Oil India would own the remaining 10 percent, said three sources involved in the process.

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Murphy Oil’s Malaysia assets draw interest from Mitsubishi, ONGC

October 1, 2014

Do you remember the Zero?

Dateline 2014-07-17, Business Standard:

Top Japanese trading house Mitsubishi Corp has submitted a non-binding bid to buy Murphy Oil Corp’s Malaysian oil and gas assets valued at about $2.5 billion, a person familiar with the matter told Reuters.

India’s state-owned Oil & Natural Gas Corp and Oil India Ltd are among the other suitors preparing to submit bids for the Murphy assets, separate sources with direct knowledge of the process said.

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