India’s Russian oil import ‘minuscule’, must not be politicised: Govt

India on Wednesday asserted that its energy purchases from Russia remain ‘minuscule’ in comparison to its total consumption and that legitimate energy transactions cannot be politicised as energy export from Russia are yet to be sanctioned. The world’s third-biggest oil-consuming and importing nation has in recent weeks snapped few cargoes available from Russia at deep […]

BPCL bid evaluation meet on Tuesday; Vedanta, Apollo Global in race

A high-powered committee will, on Tuesday, evaluate preliminary bids received from mining-to-oil conglomerate Vedanta and private equity firms Apollo Global and I Squared Capital’s arm Think Gas for buying the government’s 52.98 per cent stake in Bharat Petroleum Corporation Limited (BPCL), sources said. Last week, an inter-ministerial meet was held to discuss the BPCL valuation […]

Vedanta Resources appoints Georgeson for shareholder engagement on delisting issue

UK’s Vedanta Resources (VRL) has appointed US-based shareholder engagement firm Georgeson to convince shareholders to accept its delisting process for India’s Vedanta Ltd (VDL). VRL holds 50 per cent stake in VDL and it requires 40 per cent more to delist the company from Indian stock exchanges. VRL has offered ₹87.5 per share as its […]

‘City Gas networks will soon cover 72% of country’s population’

City Gas Distribution (CGD) networks will soon cover 72 per cent of the country’s population, said Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan. Pradhan dedicated 48 CNG stations to the nation and inaugurated eight other CNG stations on Friday. These 56 stations are spread over 11 States/Union Territories — Gujarat, Haryana, Jharkhand, […]