Abu Dhabi National Oil Company (ADNOC) Drilling announced that it plans to offer 7.5% of its shares initial public offering (IPO) to be listed for trading on the Abu Dhabi Securities Exchange (ADX).

BP intends to sell its stakes in the Gulf of Suez Oil Company (GUPCO), banking sources have said.

Sources stated that the assets might be sold for $500m.

Australian Entek Energy has entered into an agreement with Houston-based Peregrine Oil & Gas to sell the company’s entire Gulf of Mexico portfolio for almost $3m as market conditions continue to take their toll.

TransCanada is looking to sell its New England power generation business as part of its effort to finance its $10b acquisition of Houston-based Columbia Pipeline Group.

Brazil's state- owned oil company Petrobras is marketing offshore oil and natural gas fields worth as much as $2b as part of its plan to sell assets and pay down debt. The company also aims to raise $14.4b from asset sales this year.

El Paso Corp. (EP) , the pipeline company being bought by Kinder Morgan Inc. (KMI), has agreed to sell its oil and natural-gas fields in Egypt to an unidentified buyer, reducing its first-quarter results by about $62 million.

Hungarian oil and gas group MOL is ready to sell its stake in the Nabucco gas pipeline consortium if necessary as it has serious concerns over the project, MOL Chairman-CEO Zsolt Hernadi told a news conference on Thursday.