Reliance Industries Ltd (RIL) has pocketed two oil blocks in Iraq’s Kurdish region.
RIL has signed up a deal for the blocks ‘Rovi’ and ‘Sarta’ in northern Iraq with the autonomous Kurdish Regional Government (KRG).
The blocks measuring 450-500 sq km have an oil-bearing structure of around 80%, and Reliance is confident of making a discovery soon. RIL paid a signing amount of $15.5-17.5 million for the two blocks.
According to the deal, the RIL’s wholly owned arm Reliance Exploration and Production DMCC would be served as an operator.
Mumbai: Dealers told that the Indian currency relieved, on Thursday, as oil firms purchased US dollar and as worries about RBI intervention weighed on persuasion, but trading was dense ahead of a p
Mumbai: The fruits and vegetables processing firm, Temptation Foods has announced that it has bought ‘Everfresh,’ the food processing division of Chambal Fertilisers and Chemicals (CFCL).
The financial details of the deal were not disclosed yet.
The company will fund the recent acquisition from the amount (Rs 114 crore) lifted through its recently completed QIP (qualified institutional promoters) issue.
Mumbai: Private equity firm Blackstone Group has invested $65 million to get hold of 26% stake in Indian engineering company MTAR Technologies Pvt Ltd.
The Hyderabad-based MTAR makes critical components and products used for aerospace and defense applications. The funding will be a mix of primary and secondary equity.
Akhil Gupta, chairman of Blackstone Advisors India Pvt Ltd said, “We are very enthusiastic about this investment as we foresee a huge growth opportunity for MTAR both in domestic and global markets.”
In its ‘World Energy Outlook,’ the International Energy Agency (IEA) has projected that India will turn out to be the world’s third major net oil importer before 2025. The report also highlighted the following:
- India’s primary energy demand will be increased over two-folds by 2030. The demand will grow at an average of 3.6% annually because of strong economic growth. Electricity generation will be the answer for much of the increase.
In its ‘World Energy Outlook,’ the International Energy Agency (IEA) has projected that India will turn out to be the world’s third major net oil importer before 2025. The report also highlighted the following:
