Business news with words acquire+petroleum. 4 news.

NEW YORK (Reuters) - Billionaire investor Kirk Kerkorian's Tracinda Corp will pay $684 million to acquire a 35 percent stake in Delta Petroleum Corp , the independent oil and gas company said on Monday.

Tracinda will take a 35% stake in Delta Petroleum, under an agreement for the firm to make a $684 million investment in the energy company and acquire shares at a price representing a 23% premium from Friday's closing price.

SAN FRANCISCO (MarketWatch) -- Buckeye GP LLC, the general partner of Buckeye Partners LP said Friday it will acquire independent fuel distributor Farm & Home Oil Co. for $145.5 million. Buckeye expects the transaction to close in the first quarter of 2008. Over the past year, Farm & Home has provided more than 550 million gallons of refined petroleum products in eastern and central Pennsylvania and surrounding areas, Buckeye said.

Kuwait Petroleum will effectively acquire 50% stakes in some Dow Chemical plants from the U.S. to Europe to South America. The deal gives Kuwait Petroleum a new toehold to compete more directly against publicly traded oil giants in the West.