The 10 percent stake sale in Oil India, through which the government aims to garner Rs 2,500 crore, may be completed by January 15, reports suggest.
It is learnt that there is consensus between finance and oil ministries on the stake sale date. The oil ministry had earlier expressed reservations over bringing issues of oil sector companies "in a hurry", saying at least two offers for s
Tag: sale
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Govt may offload 10% stake in Oil India by Jan 15
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ChPT to allow berthing of vessel on condition
Chennai Port Trust (ChPT) said it would allow the vessel MT Pratibha Cauvery to be berthed at the port provided the owners paid the requisite berthing charges and got the documents validated. The ship, which lost both of its anchors on October 31 owing to gusty winds caused by cyclone Nilam, is currently being held in outer anchorage by a tow
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ChPT officials seek policy for sailors
Officials of Chennai Port Trust (ChPT) asked Director General of Shipping, Gautam Chatterjee to devise some sort of policy for sailors in distress and a redress mechanism to help those stuck in stranded vessels. Since October 2012, over 55 sailors are stranded in two vessels – Pratibha Cauvery and Pratibha Warna – and their salaries have not been paid since July 2012
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Rupee exchange rate holds key for petrol pricing
According to analysts, the movement of rupee against the dollar holds key for the future price movement of petrol in the domestic market. Recently, the price of petrol was reduced by oil marketing companies (OMCs) for the second time since 9 October 2012 because of the decline in crude oil prices in the international market
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Section of Congress seek hike in LPG cap
Media reports indicate that some section of the ruling Congress party want the government to raise the cap on the number of subsidised cooking gas per household per year. Recently, the government decided to limit the number of subsidised cooking gas per household per year to six and this has reportedly increased hardships for common man
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OMCs to revise petrol price
Oil Marketing Companies (OMCs) would revise the price of petrol soon in view of the changes in the rupee exchange rate, international gasoline prices
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IOC posts Rs 96 bn net profit
Following the reimbursement of oil subsidy by the union government, public sector refiner Indian Oil Corp (IOC) posted a net profit of Rs 9,611 crore in the quart
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Essar Shipping swings to profit in Apr-Sep 2012
During Apr-Sep 2012, Essar Shipping posted a net profit of Rs 18 crore compared to a loss of Rs 66.8 crore in the year-ago
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ONGC’s stake sale in KG block awaits govt nod
The sale of 26 per cent stake by Oil and Natural Gas Corporation (ONGC) in its KG Basin exploration block to a Japanese firm is awaiting the approval of the centr
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OMCs set to announce losses in Sept quarter
Delay in the receipt of compensation from the government may cause the oil marketing companies (OMCs) to post losses during the September 2012 quart