The government has approved a 10 per cent stake sale in Indian Oil Corporation to ONGC and OIL, which will fetch about Rs 5,300 crore to the exchequer. The share sale price has been fixed at Rs 220, while the scrip was trading at Rs 248.45. The sale of 10 per cent stake or 24.27 crore shares will be through an off market transaction, with ONGC and OIL buying 5 per cent stake each.
Author: admin (Infratructure Today)
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New Director-Exploration at OVL
Anil Bhandari has taken over as Director (Exploration) of ONGC Videsh (OVL), the overseas arm of state-owned Oil and Natural Gas Corp (ONGC). An M Tech in Applied Geology and a PhD from the Department of Geology of Rajasthan University, Bhandari has 34 years of experience in geosciences, management and R&D. Prior to joining the board of OVL, he led the operations in Sudan as Executive Director and Country Manager.
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Fuel supply dues of NTPC
NTPC and Coal India are trying to resolve the Rs 2,500 crore payment impasse over fuel supply. It is expected that some amount of outstanding dues may have to be carried forward in the fiscal year beginning April. By end-February, NTPC owed Rs 2,500 crore with CIL, according to sources.
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New Director-Exploration at OVL
Anil Bhandari has taken over as Director (Exploration) of ONGC Videsh (OVL), the overseas arm of state-owned Oil and Natural Gas Corp (ONGC). An M Tech in Applied Geology and a PhD from the Department of Geology of Rajasthan University, Bhandari has 34 years of experience in geosciences, management and R&D. Prior to joining the board of OVL, he led the operations in Sudan as Executive Director and Country Manager.
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RILs interim deal with buyers
Reliance Industries (RIL) will continue to supply gas at $4.2 a unit to 16 fertiliser units until the government comes out with another notification in this regard. A new agreement was necessary, as existing gas sales purchase agreements (GSPAs), signed in 2009, expired on 31 March 2014.
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Fuel supply dues of NTPC
NTPC and Coal India are trying to resolve the Rs 2,500 crore payment impasse over fuel supply. It is expected that some amount of outstanding dues may have to be carried forward in the fiscal year beginning April. By end-February, NTPC owed Rs 2,500 crore with CIL, according to sources.
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Diesel price hike put on hold
The Oil Ministry has put on hold further diesel price increases.The oil firms said there was no need to increase rates because an expert committee headed by Kirit Parikh had suggested that the government should provide a subsidy of Rs 6 a litre on diesel.
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RILs interim deal with buyers
Reliance Industries (RIL) will continue to supply gas at $4.2 a unit to 16 fertiliser units until the government comes out with another notification in this regard. A new agreement was necessary, as existing gas sales purchase agreements (GSPAs), signed in 2009, expired on 31 March 2014.
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RIL gets two blocks in Myanmar
The Ministry of Energy (MOE) of the Republic of the Myanmar selected Reliance Industries (RIL) for two offshore blocks (M17 and M18) in Myanmar Offshore Block Bidding Round 2013. Both the blocks are located offshore in the Moattama basin of Myanmar in water depths up to 3,000 ft and together encompass an area of 27,600 sq km.
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Diesel price hike put on hold
The Oil Ministry has put on hold further diesel price increases.The oil firms said there was no need to increase rates because an expert committee headed by Kirit Parikh had suggested that the government should provide a subsidy of Rs 6 a litre on diesel.