Essar Oil UK Posts 231% Jump In Profit

Essar Oil UK Posts 231% Jump In Profit

Essar Oil UK, which owns and operate the Stanlow refinery in the U.K., posted a 231% jump in its half yearly net profit to $169 million, aided by a forex income of $25 million, deferred tax liability and strong refining margins.

ONGC Partners In 6 Pre-NELP Blocks May Have To Share Cess, Royalty Load

ONGC Partners In 6 Pre-NELP Blocks May Have To Share Cess, Royalty Load

Oil and Natural Gas Corporation’s partners in six pre-NELP blocks will have to share royalty, cess and other government charges with the state firm in proportion to their stakes, ending the current practice of ONGC alone bearing state levies for entire production, according to an oil ministry proposal that would soon be sent to the Cabinet.

Essar Oil Seeks Extension To Pay Minority Shareholders

Essar Oil Seeks Extension To Pay Minority Shareholders

Essar Oil Ltd has sought the consent of market regulator Securities and Exchange Board of India (Sebi) to extend the deadline for paying its minority shareholders, after its nearly $13-billion acquisition by a consortium led by Russia’s Rosneft PJSC, two people aware of the matter said.