Reliance Industries, BP sign pact to set up petrol pumps under Jio-BP brand; joint venture likely to be formed by mid of 2020
BP had in 2011 bought 30 percent stake in 21 oil and gas exploration and production blocks of Reliance for $7.2 billion.
Essar Oil & Gas gets green nod for shale exploration in Raniganj block, to drill 20 wells at Rs 10 cr
Essar Oil & Gas has been awarded an exploration lease for shale gas, CBM and hydrocarbons in the Raniganj block
Essar Global says all overseas debt cleared; $1.75 billion paid to Indian, foreign banks
Essar Global has now repaid about Rs 6,300 crore to ICICI Bank, Axis Bank, and Standard Chartered Bank. This repays entire Rs 31,500 crore of loans availed from these banks during 2008-14.
Ahead of polls, govt allows OMCs to open over 55,000 new fuel pumps; to boost employment
For the first time, the OMCs have invited bids from private players online to ensure transparency and the bidding process would be conducted by an independent agency.
Dharmendra Pradhan says two Indian companies to buy Iranian oil in November, unsure about waiver from US sanctions
Oil minister Dharmendra Pradhan said two state refiners have placed orders for importing crude oil from Iran in November, the month when US sanctions on Iranian oil purchases take effect.
Fuel price cut: Private retailer Nayara Energy joins state-owned oil companies in subsidising petrol, diesel
India's biggest private fuel retailer Nayara Energy, formerly known as Essar Oil, will join state-owned oil companies in subsidising petrol and diesel by Re 1 per litre, its chief executive B Anand said on Friday.
FDI inflows to India decline by $40 bn in 2017 from $44 bn in 2016; outflows more than double to $11 bn: Report
FDI inflows to South Asia contracted by 4 percent to $52 billion, owing to a drop in inflows to India
Petrol, diesel prices at record high: Essar Oil advocates cut in excise duty as solution to mounting fuel crisis
Essar Oil advocated that cutting excise duties is a better option than subsidising petrol and diesel prices or going back to exercise of controlling rates
Rosneft-owned Essar Oil to be rename Nayara Energy; aims to scale up petrol pump network to 6,000 outlets
Rosneft and its partners completed the $12.9-billion acquisition of Essar Oil last August to enter the world's fastest-growing energy market
Essar Oil picks Trafigura, BP for $1 bn oil-backed loan as Indian refiner’s new owners seek to diversify firm’s financing base
Kremlin-owned Rosneft has been under U.S. sanctions since Russia’s annexation of Crimea in 2014.
Private fuel retailers double petrol, diesel market share, says oil minister Dharmendra Pradhan
In the private sector, Essar Oil had 4,275 petrol pumps while Reliance Industries had 1,400 retail outlets. Shell operates 100 petrol pumps
Essar to pay additional Rs 880 cr or Rs 75.48 per share to minority shareholders of EOL
Minority shareholders of Essar Oil will get Rs 75.48 per share in addition to Rs 262.80 per share they had got on delisting
Essar Oil completes sale of India assets to Rosneft-led consortium for $12.9 bn
Essar Oil on Monday announced the closure of the company's sale, including its Vadinar refinery, to Russian state-run Rosneft-led consortium for $12.9 billion.
Oil Minister Dharmendra Pradhan invites RIL, BP to invest in fuel retailing
While RIL already has a fuel retailing license and has some 1,400 petrol pumps on the ground, BP last year got approval to set up petrol pumps in India
Narendra Modi's four-nation tour: Key takeaways from 17th India-Russia Annual Summit in 2016
Firstpost takes a look at the key points that were discussed at the 17 India-Russia Annual Summit, and which are likely to be part of Modi's agenda when he arrives in Russia as part of the four-nation tour.
Oil PSUs to revise petrol, diesel price daily in Puducherry, Udaipur, 3 other cities from 1 May
State refiners currently revise fuel prices every fortnight to reflect volatility in the currency and global oil markets.
M&A deals hit 5-year high at $61.44 bn in 2016 against $23.71 bn a year before
The deal value in 2016 is not only a record five year high but is also 159 percent more than $23.71 billion witnessed from 995 deals in 2015
Air India may benefit from restructuring scheme but banks could be saddled with duds
One wonders why the government is trying to rescue Air India, as it might well be exposing banks to duds which the airline's equity shares are likely to turn out given its massive accumulated losses
Rosneft-Essar deal not in violation of sanctions on Russia: US
Russia's state-controlled oil giant Rosneft and its partners' USD 12.9 billion deal to take over India's Essar Oil is not in violation of any US-EU sanctions against Russia, the US said today.
India Inc's asset fire-sales emerge as best hope for NPA-ridden banks
Fire-sale in the event has come has manna from the heaven. It took some conscientious promoters to sell their group undertaking despite the fact that they constituted their crown jewels.