Daily Archives: April 24, 2020

OPEC Producers See Market Share Evaporate In India

The world’s third-biggest oil importer, India, saw its imports from OPEC producers slump to a 19-year-low in the fiscal year 2019/2020 ended in March, Reuters reported on Thursday, citing data from trade and industry sources. At the same time, India imported more oil from the United States, the Mediterranean, and Latin America. India’s refiners have…

Can’t pay extra profit to govt from Barmer block as oil prices crashed: Vedanta in HC

The Delhi High Court has sought the Centre’s response on the Vedanta Ltd plea that the contract to operate Barmer oil block be extended till 2030 without having to pay 10 per cent extra to the government as global oil prices have crashed due to COVID-19 pandemic. Vedanta has contended that if it has to…

Govt alters strategic divest plan, more HPCL-ONGC-like deal on cards

NEW DELHI – In a major change in stance, the disinvestment department may look at strategic stake sale of smaller public sector companies to larger ones instead of privatising large state-owned companies, two senior finance ministry officials said. With the COVID-19 pandemic and its impact on the stock market, there has been erosion in value…