The proposal of ONGC Videsh (OVL) to pick up the 2.7213 per cent stake of US energy major Hess Corp in the Azerbaijan oilfield received approval from the Cabinet Committee on Economic Affairs (CCEA). According to the plan, OVL would invest $ 1.001 billion to buy 2.7213 per cent stake of the above mentioned firm in Azeri, Chirag and the deep water porti
Tag: CCEA
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CCEA clears proposal to cap annuity allocation for PPP projects
The Cabinet Committee on Economic Affairs has approved the recommendations made by the Inter-Ministerial Task Force under the chairmanship of Member (BK Chaturvedi), Planning Commission on budgetary ceilings for annuity commitments under Public Private Partnership (PPP) projects across sectors. The recommendation of the committee would ensure that future budgetary options do not get restricted due to a
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Ishar Gasoil loses oil and gas blocks
Ishar Gasoil, which bid for three oil and gas blocks under the ninth round of the New Exploration Licensing Policy (NELP), failed to secure these blocks as the Cabinet Committee on Economic Affairs (CCEA) rejected them. Owing to the companyÂ’s negative net worth, its bids for the blocks RJ-ONN-2010/1, GV-ONN-2012/1 and
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Cabinet panel clears 10% stake sale in HAL
The Cabinet Committee on Economic Affairs has cleared the sale of 10 per cent equity of the government in Hindustan Aeronautics (HAL) through an initial public offering (IPO) in the domestic
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Fin Min gives nod to $7.2 bn RIL-BP deal
The $7.2 billion deal betwÂeÂen Reliance Industries and Britain's BP Plc, of which India's largest gas field KG-D6 is one, received approval from the Finance Ministry.
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Vedanta buys more into Cairn
Vedanta Resources will buy another 10 per cent in the Indian arm of Cairn Energy as part of a restructuring of the much-delayed deal that will result in a $600 million reduction in the price tag.
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Clean Energy Fund on anvil
The Cabinet Committee on Economic Affairs (CCEA) has approved constitution of a National Clean Energy Fund (NCEF).
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Cairn-Vedanta deal in ONGC's court
The government’s law officers have held that Edinburgh-based firm needs ONGC’s consent to sell its majority stake in Cairn India to Vedanta Resources.