Baker Hughes Finalizes SPC JV With Cactus
3, January 2026
Baker Hughes closed its SPC joint venture with a Cactus, Inc. subsidiary, receiving $344.5 million (pre-adjustments) and retaining a 35% stake.
joint venture
bp Sells Majority Stake in Castrol to Stonepeak for $10.1 Billion
25, December 2025
bp agreed to sell 65% of Castrol to Stonepeak at a $10.1 billion enterprise value, targeting about $6.0 billion net proceeds to reduce net debt ahead of end-2027 targets.
LFG and PV Drilling Outline Plans for Malaysia Joint Venture
19, November 2025
Lianson Fleet Group and PV Drilling have agreed to review joint activities in Malaysia’s offshore drilling sector. Their planned partnership includes rig ownership, chartering and service support, with an initial target of two jack-up units. A shareholders’ agreement is expected in early 2026.
Eni and PETRONAS Establish Equal Joint Venture for Upstream Operations in Indonesia and Malaysia
5, November 2025
Eni and PETRONAS formed an equal joint venture combining upstream operations in Indonesia and Malaysia, investing over $15 billion over the next five years.
