Shri S. Jaipal Reddy, Minister of Petroleum & Natural Gas held bilateral discussions with Pakistan’s Federal Minister for Petroleum & Natural Resources, Dr. Asim Hussain on various matters relating to bilateral cooperation in the hydrocarbon sector, here today. This was Dr. Hussain’s 2nd visit to India as Minister, the 1st one having been on 28th

The Year 2011 has been marked by significant developments in the Oil and Gas sector as the Ministry of Petroleum and Natural Gas took several important initiatives for the growth of the sector. Some of these include approvals for induction of new partners in upstream-projects, commissioning Bina Refinery, bidding for NELP-IX blocks and acquisition of

The Minister of Finance Shri Pranab Mukherjee has said that to meet this growing demand for crude oil and gas in India, Africa will play a major role in the coming years. Delivering keynote address at the Inaugural Session of 3rd India Africa Hydrocarbons Conference, here today, the Finance Minister said that for enhancing our

Infrastructure India Holdings Fund LLC, based in Mauritius, announced it is to acquire 6.35% stake in Aegis Logistics Limited. The investment is for a consideration of Rs.68.27 crore and will see Infrastructure India Holdings subscribing to 2.12 million equity shares at 322 rupees per share. Aegis Logistics plans to use the funds for port terminal

Reliance Industries and BP Tuesday went into a partnership agreement for joint venture investments in the oil and gas sector. The partnerships were signed in London between Reliance Industries Ltd’s Chairman and Managing Director Mr. Mukesh Ambani and BP Group Chief Executive Mr. Robert Dudley.
The partnership encompasses BP taking a 30 per cent stake in

State owned Indian Oil Corporation is mulling the acquisition of a 26 per cent stake in Nuclear Power Corporation of India Ltd’s 1,400 MW atomic power project at Kota. The project will be acquired for an estimated Rs. 900 crore. Nuclear Power Corporation of India is establishing the 1,400 MW power plant scheduled to be

In a bid to hike its stake prospects, the Indian Oil Corporation is in a move that may result in its acquisition of up to 49 per cent stake in a proposed joint venture with the Nuclear Power Corporation of India. The move may effectively quash an earlier stake offer of 26 per cent that

Indian Oil Corporation has a war chest of $1 billion for acquisition investments, reported the firm Wednesday. According to the firm, it will be targeting viable and feasible firms’ producing or developing and production assets overseas. The firm is keen on bolstering its business via investments in Exploration and Production assets. The state run Indian

Vedanta Resources plc reported Thursday that it is currently in talks for the acquisition of Indian oil firm, Cairn India. The purchase would see the London based Vedanta Resources acquire India’s biggest oilfield, owned by Cairn India. Vedanta Resources Plc said it is still in talks regarding the acquisition of an interest in Cairn Energy

Reliance Industries (RIL) said Thursday that it will acquire a 60% stake in a joint venture with Carrizo Oil & Gas. Reliance Industries is the biggest listed group in India and will be acquiring the majority stake in the JV at the prosperous Marcellus Shale expanse. This acquisition therefore comes as the third the Indian