India opens Energy Office in Moscow to expand investments and procurement
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Synopsis
The IEO will cover five top Indian entities Oil India Limited, ONGC Limited Videsh Limited, GAIL (India) Limited, Indian Oil Corporation Limited, and Engineers India Limited. The announcement to set up IEC was made by the Foreign Secretary during his recent trip to Moscow.
Agencies
IEO has been opened for promoting the interest of Indian oil and gas PSUs in Russia and of Russian companies in India in the energy sector.
India on Tuesday opened India Energy Office (IEO) in Russia with a goal to push an already burgeoning energy partnership between the two strategic partners.
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Bharat Petroleum to sale its equity in Numaligarh Refinery
Privatisation bound public sector refiner Bharat Petroleum Corporation Ltd (BPCL) said on Monday that its board has approved the proposal for sale of the company s equity shares in the Numaligarh Refinery Ltd (NRL) to a consortium of Oil India Limited and Engineers India Limited, along with the government of Assam.
BPCL is selling its entire shareholding of 61.65 per cent in NRL to the consortium as part of its sell-off process that mandated separation of the Assam-based refinery before the strategic sale.
As per the information shared with the stock exchanges, BPCL said that in case the government of Assam doesn t participate in the purchase of shares in NRL, its entire shareholding will be sold to the consortium.