Manish Vaid Analyses if PSUs oil merger offer synergy in energy? Says that ‘few business marriages are made in heaven’ and compatibility of merging companies should always be the driving force of any mergers. It is only then one can imagine synergy in energy in any M&A propositions
CCEA approves award of contract to 31 contract areas (44 fields) of Discovered Small Fields of ONGC and OIL
CCEA approves award of contract to 31 contract areas (44 fields) of
Discovered Small Fields of ONGC and OIL
The two new strategic oil facilities announced at Odisha and Rajasthan are in addition to the three facilities that already exist in the country as underground storages in rock caverns at Visakhapatnam (1.33 million tonnes), Mangalore (1.5 MT) and Padur (2.5 MT).
Union petroleum minister Dharmendra Pradhan said the move to create two new strategic oil storage will enhance India’s energy security “taking our strategic reserve capacity to 15.33 MMT.” This, he said, will increase India’s oil storage capacity to meet the consumption requirement of about 90 days which is at par with the international benchmarks.
Creation Of An Integrated Mega Indian Oil PSU To Rival Global Energy Majors Announced In Union Budget 2017
In what can rival the likes of Russia’s Rosneft ($55 billion in market cap) and UK’s BP Plc ($112 billion) in market value and financial power, finance minister Arun Jaitley while presenting the Union Budget 2017 announced creation of an integrated public sector ‘oil major’ by integrating the oil sector PSUs across the value chain and to enhance capacity of Oil PSUs to bear higher risks, avail economies of scale, take higher investment decisions and create more value for the stakeholders.
GAIL (India) Limited has recommended issuance of one bonus share for every three equity shares held of Rs 10 each fully paid up, subject to shareholders approval.
Sheikh Mohammed bin Zayed Al Nahyan is also India’s chief guest at the Republic Day Parade.
India and UAE on Wednesday inked as many as 14 strategic co-operation Memorandum of Understandings (MoUs)in the fields of defence, energy, trade and investment, information technology, and maritime security.
The pact assumes immense significance for an oil importing nation like India and one that feeds 80% of its crude oil needs through imports. The underground strategic storages have been built at different locations across India and filling half of the oil storage facility at Mangalore amounts to 10 days of India's average oil demand (or about 37 million barrels of crude oil).
In what will help towards India’s energy security goals besides building a strong bond with the United Arab Emirates (UAE), India on Wednesday inked a significant pact with the energy rich Gulf nation on oil storage and management.
The Chemicals industry in India is an important contributor to the Indian economy sustaining a variety of downstream industries such as textiles and pharmaceuticals. The Indian chemicals industry with a market size of USD 145 billion is the seventh largest producer of chemicals worldwide and the third largest producer in Asia after China and Japan.
The minister urges everyone to turn off vehicle engine at traffic signal; could save 2% of fuel translating to Rs 14000 cr.
In what came as a big relief for consumers of petrol and diesel and petrol pump owners, union minister of state (I/C) for Petroleum and Natural Gas, Dharmendra Pradhan said Monday. The All India Petroleum Dealers Association (AIPDA) on Sunday announced that it would not accept payments through credit and debit cards from Monday in protest the banks’ decision to levy additional charge of up to one per cent on such transactions