Aries Group plans $1bn foray into petrochem business in Kuwait

NRI industrialist-run Aries Group is planning to foray into offshore oil, gas and petrochemical business in Kuwait. It will invest $1billion to fuel its robust growth project. Last year, the group’s Indywood consortium had initiated a $10-billion investment in India in the entertainment business. Last year, the group’s Indywood consortium had initiated a $10-billion investment […]

Analyst Corner| GAIL target price at Rs 388 on market value of investment

We recently interacted with the Management of GAIL (India) Ltd. to understand the latest developments in gas trading and petrochemical segment. The key takeaways of the interaction are enumerated hereunder. GAIL has sold 70% of US LNG in deals with the term extending up to 20 years to several domestic LNG consumers, including spot/medium-term LNG […]

ONGC’s biggest oil fields including Mumbai High came close to being sold to private, foreign firms

State-owned ONGC’s nine biggest oil and gas fields including Mumbai High and Vasai East came tantalizing close to being sold to private and foreign companies but the plan was nixed after strong opposition from within the government, sources said. A high-level committee headed by Niti Aayog Vice Chairman Rajiv Kumar late last year considered “transferring” […]