Reliance Industries (RIL) is likely to be the lone bidder for Mangalore-based JBF Petrochemicals, which is up for sale after defaulting on bank loans worth Rs 5,000 crore. The lenders for the second time extended the deadline for submission of bids, which had ended on August 20, as several players, including public sector companies, were redrawing their acquisition plans, said people in the know. "There were several companies which had submitted their expressions of interest (EoIs) for the company but after due diligence decided to exit the race," said a source close to the development. "The new deadline for submitting financial offers is August-end," the source said.
The United States and Britain had also called for China to provide proof of Peng's whereabouts.
State-run Indian Oil Corporation, the country's largest oil refining and marketing firm, today sought a Rs 5.18 per litre hike in the price of diesel and Rs 4.59 per litre increase in petrol prices mainly due to the surge in global crude oil prices.
Taking advantage of a Russian offer to sell its crude oil cheap and bear the cost of insurance and transportation, India may import as much as 2 million tonnes (mt), or roughly 15 million barrels of crude, from the sanctioned nation in 2022, Business Standard has learnt. This comes after reports that Indian Oil Corporation (IOC) bought 3 million barrels of Russian Urals from trader Vitol for May delivery. This will be on cost, insurance and freight (CIF) model, where the seller incurs the costs and pays the freight, including insurance charges.
State-owned Indian Oil Corporation plans to import about 0.7 million tonnes of ultra low sulfur petrol and diesel in February and March to meet the April 1 deadline for supply of green fuels in the country.
The last year has seen public sector undertakings (PSUs) outperforming the Nifty50, albeit by a small degree. But PSU valuations are still, on average, less than half of private sector peers at price-to-equity or PE 8.7x for the Nifty PSU Index versus 20.9x for the Nifty50. There are several reasons for lower valuation.
Indian Oil Corporation, the country's largest oil firm on Monday reported the first ever net loss in its history and said the government freeze on fuel prices may impact its expansion plans including setting up of a new refinery at Paradip in Orissa.
Indian Oil Corporation, the country's largest refiner, on Monday reported a sharp 30 per cent drop in net profit for 2004-05 to Rs 4890 crore (Rs 48.9 billion) compared to Rs 7,005 crore (Rs 70.05 billion) in the previous fiscal.
'It was of course very, very difficult, especially in the second half. We saw the temperature on the building, so maybe every 10K it was one degree higher and higher.'
The World Anti-Doping Agency (WADA) on Monday recommended that the IOC and International Paralympic Committee should consider banning all athletes entered by the Russian Olympic Committee for next month's Rio Olympics.
Indian Oil Corp is unlikely to bid for a share in six new pipelines being built by Reliance Industries to transport fuel from its refinery to its planned chain of petrol stations.\n\n\n\n
Indian Oil Corporation, the country's largest oil firm, on Wednesday said it is losing about Rs 54 crore (Rs 540 million) every day on sale of petroleum products.
The government on Monday fixed the issue price of the share at Rs 1,050 per share, raising about Rs 4,982 crore (Rs 49.82 billion). The public issue of OIL, which closed on September 10, was subscribed nearly 31 times, generating demand for shares worth over Rs 85,576 crore (Rs 855.76 billion).
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