Murphy Oil's Malaysia assets draw interest from Mitsubishi, ONGC: Sources

Japan's biggest 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 said.

It was not immediately clear if the two Indian companies would submit a joint bid as they have done in the past for overseas energy assets.

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.

A Mitsubishi spokeswoman declined to comment. ONGC Videsh, the overseas business arm of ONGC, also declined to comment.

Oil India and Murphy did not respond to e-mails seeking comment. Sources declined to be identified as the sale process is confidential.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Tax collections are a more reliable indicator of economic growth

    Direct taxes collection figures are supposed to reflect the health of corporate bottomlines as well as the state of the overall economy.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Nigavekar

Learning the art of learning styles

Recently, I met a group of new teachers from different ...

Rajgopal Nidamboor

The essence of creative energy

Creativity or originality isn’t the privilege of working minds, even ...

Gautam Gupta

Indian designers can learn a lot from Benetton

I was reading an article in the magazine about Benetton ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture