A subsidiary company of India’s Oil & Natural Gas Corporation (ONGC Videsh) would like to buy a 15 percent stake in Yuganskneftegaz, the former crown jewel of Yukos Oil Company
Published:
9 January 2005 y., Sunday
A subsidiary company of India’s Oil & Natural Gas Corporation (ONGC Videsh) would like to buy a 15 percent stake in Yuganskneftegaz, the former crown jewel of Yukos Oil Company. The Indian company is ready to pay up to $2 billion for the stake, the Indian Business Standard newspaper reported on Friday, January 7.
ONGC Videsh is a 100 percent subsidiary of Indian Oil & Natural Gas Corporation (ONGC), which strives to increase its presence on the international markets. ONGC Videsh is already working on a joint oil project with state-owned Rosneft Oil Company which is the new owner of Yuganskneftegaz. In addition to projects in Russia the Indian company works in Sudan and plans to extract diamonds in Equador.
The representatives of ONGC Videsh already submitted their proposal to buy a stake in Yuganskneftegaz to the government of India. As Business Standard reported, the Indian Oil and Natural Gas Ministry discussed this question on Tuesday, January 4, but came to the conclusion that the company is not ready yet for such a deal. “We are worried that a lot of legal problems may arise,” said a representative of the Indian authorities.
Meanwhile the management on ONGC Videsh wants to accelerate the deal because it is wary of possible competition from Chinese oil companies.
Šaltinis:
MosNews
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
According to the data presented by the Ministry of Finance, in end-January central government debt made up LTL26, 310.8 million or 28% of projected GDP for 2010 (LTL 93, 819 million).
more »
As far as countries affected by the economic crisis, China fared extremely well.
more »
The European Commission has authorised today a Slovak scheme with a budget of approximately €3.32 million which aims at supporting farmers in Slovakia who encounter difficulties as a result of the current economic crisis.
more »
Commission sets out a 10-year strategy for reviving the European economy, casting a vision of ‘smart, sustainable, inclusive' growth rooted in greater coordination of national and European policy.
more »
The European Commission has launched today the Europe 2020 Strategy to go out of the crisis and prepare EU economy for the next decade. The Commission identifies three key drivers for growth, to be implemented through concrete actions at EU and national levels.
more »
Launching of the “SCHOOLS’ initiative for innovation and changes” Grant scheme.
more »
EU Member States must not only deliver on their international aid pledges, but also bring in a financial transactions tax and a temporary debt moratorium, to help developing countries to cope with the effects of the global financial and economic crisis, said the Development Committee on Monday.
more »
The EBRD is increasing its commitments to promote sustainable energy projects in Slovakia with a new €90 million funding under the existing Slovakia Sustainable Energy Finance Facility (SLOVSEFF) to ensure continuous implementation of energy efficiency and small renewable energy projects.
more »
According to the unaudited data, in 2009 AB Bank SNORAS earned LTL 8.7 million profit. The bank’s assets grew by 11 per cent up to LTL 6.342 billion during 2009 and were by LTL 647.8 million larger than at the beginning of 2009.
more »
Aviation security measures that go beyond common EU requirements should be paid for by Member States, not by passengers, said Transport Committee MEPs in a vote on Monday that could put Parliament on a collision course with the Council of Ministers.
more »