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In a bid to support the Start-Ups operating in identified Focus Areas, GAIL (India) announced its plans to invest in such companies through its Start-Up initiative Pankh .
GAIL has now opened a fresh Round for Solicitation of Investment Proposals from the Start-Ups operating in the Focus Areas, which mainly includes natural gas, petrochemicals, energy, project management, bio-manure marketing, nano materials, IoT, data mining, environment, health and social. The further details of Focus Areas are available on GAIL website under GAIL PANKH Section.
The Start-Ups that are interested in equity investment from GAIL can apply through link GAIL PANKH on GAIL s website https://gailonline.com. The Solicitation Round is open from 30 March 2021 to 30 May 2021.
The oil ministry will seeks tens of millions of dollars from Vedanta s Cairn Oil & Gas after the Delhi High Court held that the firm was liable to pay higher profit share to the government in lieu of its Rajasthan oil and gas block license being extended beyond initial term, a top official said. In the interim, the firm s Barmer basin block licence, whose initial 25-year term ended on May 15, 2020, has been given an eighth interim extension, the official, who wished not to be identified, said. Now that the Delhi High Court has upheld the government policy, we will issue recovery notices seeking higher profit petroleum since May 15, 2020, he said. The exact amount is being calculated but it will be in tens of millions of dollars.
With effect from 01 April 2021GAIL (India) announced that P.K. Gupta, Director (HR) ceased to be a Director of the Company w.e.f. 01 April 2021 upon his superannuation on 31 March 2021 from the services of GAIL.
Further, Manoj Jain, Chairman & Managing Director (CMD) has been entrusted with additional charge of the post of Director (HR) w.e.f. 01 April 2021.
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Bharat Petroleum Corporation announced that a share purchase agreement has been signed on 31 March 2021 between BPCL, Bharat Oman Refineries (BORL) and OQ S. A. O.
C ( OQ formerly known as Oman Oil Company S. A. O. C) for BPCL s acquisition of 888,613,336 (36.62%) of equity shares in BORL from OQ for a consideration of Rs 2,399.26 crore.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.) Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with c