Government may shut doors on further consolidation in the public sector oil companies but allow companies to diversify and grow organically to achieve the scales that matches the performance of international and domestic private sector oil and gas companies.
Union Cabinet is likely to take up the strategic disinvestment of the entire stake of government of India along with transfer of management control in oil marketing PSU – BPCL this month to push ahead the exercise, sources said.
The Centre is unlikely to consider the Odisha government”s demand for revision of coal royalty as Union Coal and Mines Minister Prahlad Joshi on Friday said that it is linked to the power tariff.
Crude oil futures on Friday fell by Rs 59 to Rs 4,034 per barrel after participants reduced positions, tracking a subdued trend in global markets. On the Multi Commodity Exchange, crude oil prices for November delivery dropped by Rs 59, or 1.44 per cent, to Rs 4,034 per barrel with a business volume of 26,575 lots.
Delhi Metro Rail Corporation (DMRC) told the National Green Tribunal Thursday that construction of a commercial complex above Bhikaji Cama Place station was conceptualised in 2012 and it is not an afterthought as alleged by a plea challenging the structure which will add to its revenue.
Sterlite Power on Wednesday said that it has signed the sale agreement for its first power transmission asset operating in Brazil – the Arcoverde Project. The project is responsible for expanding the flow of renewable energy in the countryside region of Pernambuco, the company said.
The potential sale of entire government stake in Bharat Petroleum Corp Ltd (BPCL) could result in a reassessment of linkages between the government and oil marketing companies, Fitch group firm India Ratings and Research said on Tuesday.
The country”s largest public sector refiner and retailer, Indian Oil Corporation (IOC), may consider bidding for the Centre”s stake in Bharat Petroleum Corporation Ltd (BPCL) if such a need arises and the government agrees to reduce the quantum shares on offer in the company, including a waiver from mandatory open offer.
French Deputy Minister for Ecological and Inclusive Transition Brune Poirson is visiting India to co-preside over the second Assembly of the International Solar Alliance here on Thursday. Poirson, who is on a three-day India visit from Wednesday
Petronet LNG Ltd, the country”s biggest importer of liquefied natural gas, on Tuesday reported a near doubling of net profit in September quarter as it derived benefit of lower corporate tax rate.