A joint venture of Oil India (OIL) and ONGC Videsh (OVL) is in race for the 10 per cent stake of Videocon Energy Ventures in MozambiqueĆās Rovuma gas basin. The joint venture firm would compete with energy firms like ExxonMobil, PTT Exploration and Production Public Company, Shell, BP, and China's Sinopec for the stak
Tag: sale
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GAIL may not concede right of first refusal
GAIL India, which is one of the promoter shareholder of Petronet, refuses to concede its right of first refusal on the 5.2 percent stake of Asian Development Bank (ADB) in Petronet. The multilateral lending agency plans to sell its 5.2 per cent stake in Petronet, which has been formed as a joint venture by the Government with non-public sector cha
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GAIL may not concede right of first refusal
GAIL India, which is one of the promoter shareholder of Petronet, refuses to concede its right of first refusal on the 5.2 percent stake of Asian Development Bank (ADB) in Petronet. The multilateral lending agency plans to sell its 5.2 per cent stake in Petronet, which has been formed as a joint venture by the Government with non-public sector cha
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NMDC board to review iron ore price
Soon the board of NMDC would meet to review the price of iron ore it sells in the domestic market in line with the policy of the company to revise it every month. Media reports suggest that the state-run miner could raise the price between Rs 200 and Rs 400 a tonne. The board would take into consideration factors such as dema
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AOSF alleges miners of charging high price for ore
Iron ore mining companies in Odisha charge exorbitant rates while selling ore to local steel firms, alleges the All Odisha Steel Federation (AOSF). The body, which represents the interests of local steel units and sponge iron manufacturers, alleges that two mining lessees- Sirajuddin and Indrani Patnaik had offered ore for sale to such
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APSEZ to use stake sale proceeds for east coast project
Media reports suggest that Adani Ports and Special Economic Zone (APSEZ) would divest its stake in the Australia's Abbot Point port and use the sale proceeds to invest in its venture in the east coast of India. It is learnt that the Board of Adani Ports has in-principle decided to divest its significant stake in entities cont
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Mauritius Unitus trims holding in SKS Microfinance
In a communication to the stock exchange, Mauritius Unitus Corporation sold a part of its stake in the only-listed microfinance institution in the country SKS Microfinance. Through open market trade in the BSE and NSE, the firm sold over 1 lakh of its shares in the microfinance instit
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OMCs sell 2.8% more fuel products in December 2012
Data from the Petroleum Planning and Analysis Cell of the oil ministry shows sale of fuel products grew 2.8 per cent to 13.41 million tonne in December from the year ago month. Of this, sale of diesel constituted 6.13 million tonne, which is 4.4 per cent higher than December 2011. Diesel consumption makes up over 40 per cent of local fuel sales. Sale of diesel in December improved over Nove
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PPAC cuts growth forecast of fuel sales
Data released by the Petroleum Planning and Analysis Cell (PPAC) shows that fuel sales in the country may grow 5.2 percent in 2012-13, down from its earlier projection of 6.1 percent. In 2011-12, the sales grew 5 percent and the country consumed 148.13 million tonne of fuel, data show
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Govt plans to offload stake in Oil India in mid January
During the middle of January, government plans to launch the divestment of its 10 per cent stake in Oil India. The government plans to mop up around Rs 2,700 crore by offloading its 10 per cent stake in the firm at the p