The billionaires who co-own Russian oil venture TNK-BP and want to buy out partner BP have told the UK company they would rather sell their half of the £31billion business than end up in a devalued partnership with state-backed rival bidder Rosneft.
BG GROUP has taken a further step towards buying Australian coal-seam gas producer Pure Energy Resources for about £480million after rival bidder Arrow Energy, of Australia, decided to let its offer lapse.
LEGAL moves to delay the buyout of oil and gas service company Expro International by a private-equity consortium were rejected yesterday, leaving rival bidder Halliburton out of the running.
