State owned refiner Indian Oil Corporation has proposed merger of its subsidiaries Indian Oil Blending Ltd, IBP Co Ltd, Bongaigaon Refinery and Petrochemicals Ltd and Chennai Petroleum Corp Ltd with itself, Petroleum Minister Mani Shankar Aiyar said
Insurance companies are anticipating claims of at least Rs 500 crore from the incessant rains and flooding in Chennai.
It calculated that the government should have got an additional profit share of $ 115.263 million.
Oil Minister Dharmendra Pradhan had last month told the Parliament that his Ministry has disallowed RIL from recovering $2.376 billion invested to develop offshore Krishna Godavari gas fields as output has fallen drastically and was way below the promised volumes in past four years.
Govt plans to stop RIL from selling crude to Jamnagar refinery.
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