JUNE 20239BP is in a competition with Petroliam Nasional Bhd, or Petronas, the state-owned energy firm of Malaysia, to spend $1.5-2 billion for a major minority ownership in a new platform that belongs entirely to the two Greenko founders, Anil Chalamalasetty and Mahesh Kolli.According to the individuals indicated above, negotiations have progressed with both sides, and Greenko is now anticipated to choose one of the two energy giants.When completed, this project will represent the largest foreign investment in a green ammonia and hydrogen project in India to date.Additionally, it occurs at a time when BP is under pressure from two of the biggest pension funds in the UK, which manage $130 billion in assets.They have stated that until both BP and Shell strengthen their promises to reducing carbon emissions, they will not vote to extend the tenure of their senior directors. BP reneged on its promise to reduce oil and gas output by 2030 after agreeing to a net-zero carbon emissions target by 2050.The group's oil and gas output would decline by only 25 percent from 2019 levels by 2030, as opposed to the initial estimate of 40 percent, according to CEO Bernard Looney. State-run Oil India Ltd. (OIL) is in talks to buy a stake in Tullow Oil, which has its headquarters in London, for its Kenyan property. Ranjit Rath, chairman of Oil India, said to the media on Thursday, "Some discussion is going on," without going into any detail. In order to finance its onshore oil project in Kenya, Tullow Oil has been looking for a strategic investor. Tullow Oil and ONGC Videsh Ltd. (OVL) previously had negotiations in July of last year. Tullow said that the parties had agreed to continue talking about the issue after the meeting in July. Tullow currently controls a 50 percent share in the business.25 percent each are held by TotalEnergies SE and Africa Oil Corp. The three will probably sell a portion of their stake. Speaking about the dividends that are stranded in Russia as a result of its investments in Russian enterprises, the CMD stated that the company is working on potential solutions with other Indian state-run businesses that have investments in oil and gas assets there. "We are working out solutions with our other partners since we have a subsidiary office in Singapore and all these overseas assets are invested through our JVs or subsidiary structure," he said. He further lamented the fact that the dividends are being parked in Russian Indian banks and accruing interest for the corporation. They are all parked in Russian Indian banks.On top of that, we receive dividends and interest. It might just take a short while to remedy the problem. "We are working with legal consultants to assess other options. We keep an eye on the developments that are taking place every day. And we are also discussing potential substitutes with our colleagues," he said. Indian state-owned oil companies have spent $5.46 billion to acquire shares in four separate Russian enterprises.The company announced its highest-ever net for the most recent fiscal year (FY23) at 26,810.40 crore, growing by 75.20 percent year over year (YoY). "The company also recorded the highest-ever turnover of 223,272.57 crore, a rise of 60.17 percent YoY," according to a statement from the company. GREENKO WILL RECEIVE A $2 BILLION INVESTMENT FROM BP AND PETRONASOIL INDIA IN TALKS TO ACQUIRE STAKE IN TULLOW'S KENYA BLOCKTOP STORY
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