The takeover of India’s Essar Oil by Russia’s largest oil producer Rosneft can be now considered as closed, Rosneft CEO Igor Sechin told a shareholders’ meeting on Thursday.
In an attempt to salvage the crucial deal with the Russian oil major Rosneft, Essar Oil has promised to prepay about Rs 800 crore loan to LIC immediately before signing the deal.
India will flex its market muscle to secure better terms from Opec when ministers from the cartel of oil exporting countries
Come May 1, five cities across India — one in every region including Chandigarh in Northern region, Jamshedpur in Eastern region, Udaipur in West and Vizag in Southern region besides Puducherry will start selling petrol and diesel on a daily dynamic pricing model.
The Ruias-led Essar Group on Monday said it would sell its business process outsourcing (BPO) unit, Aegis, to Singapore-based private equity firm Capital Square Partners, and exit its BPO business.
Pushed by LIC, Essar Oil has given an unconditional undertaking to the institution and some of the lenders that their dues would be cleared within three days of the closure of its crucial deal with the Russian firm Rosneft.
The Union Cabinet’s decision on Wednesday to grant extension to production sharing contracts for 10 blocks will benefit Cairn India Ltd (CIL)
The Cabinet Committee on Economic Affairs (CCEA) today allowed companies producing coal bed methane (CBM) to sell gas to its own affiliates, by giving marketing and pricing freedom for CBM.
The oil ministry has proposed to the Cabinet that coal-bed methane (CBM) gas producers be given pricing freedom and allowed to price the fuel at market rates.
In a boost to firms like Reliance Industries and ONGC, the oil ministry has moved a proposal to the Cabinet for allowing pricing freedom for natural gas produced from coal seams.