India to pay another $700 mn to Iran on Oct 12
India to pay another $700 mn to Iran on Oct 12

 India will pay the second tranche of USD 700 million to Iran to clear part of past oil dues on Oct 12 since the dilution of trade sanctions by the US and five other world powers in July. In an accord, Iran had agreed to restrict its nuclear programme in  exchange of easing of sanctions, which had crippled its oil economy.



Indian oil companies pay $700 mn to Iran for oil
Indian oil companies pay $700 mn to Iran for oil

Essar Oil, MRPL and other Indian refiners today paid Iran USD 700 million to clear over one-tenth of their outstanding oil dues, the first payment this year ahead of easing of international sanctions against the Persian Gulf country.

Essar Oil to shut Vadinar refinery for 30 days

Essar Oil Wednesday said it will from Friday shutdown its 20 million tons Vadinar Refinery in Gujarat for 30 days for carrying out maintenance work.

Reliance, Essar Oil to supply diesel to Railways

Private refineries Reliance Industries and Essar Oil will supply diesel to the Railways, Lok Sabha was told Monday.

Essar Oil shares reverse early gains; slip over 1%

Essar Oil's scrip reversed early gains and ended over 1 percent lower Thursday as the company received approvals from National Stock Exchange (NSE) and BSE to delist its shares.

Essar Oil gets stock exchanges go ahead for delisting

Essar Oil has received approvals from National Stock Exchange (NSE) and BSE to delist its shares, company Managing Director & CEO L K Gupta said Wednesday.

Essar posts record Rs 1,063-cr Q1 net as margins improved

Essar Oil reported its highest ever quarterly profit in April-June quarter.

Essar to shut 400,000 bpd refinery for a month

Essar Oil will shut the Vadinar refinery in Gujarat for planned maintenance, Chief Executive L.K. Gupta said. Trade sources had earlier said the shutdown could happen in July-August. 

Essar Oil signs pact to sell 49% stake to Russia's Rosneft

Essar said it "signed a non-binding Term Sheet with regard to Rosneft?s participation in the equity capital of Essar Oil Limited with a share of up to 49 per cent."

Essar Oil signs pact to sell 49% stake to Rosneft

Essar Oil shares surged as much as 5.1 per cent on Thursday to Rs 198.35 after Russia's Rosneft signed a deal to acquire up to 49 per cent stake in its Vadinar oil refinery.

Essar Oil UK posts $70 million profit in FY15

Essar Oil UK, which owns and operates UK's Stanlow refinery, Friday reported a net profit of USD 70 million for the year ended March 31 compared with a loss of USD 121 million in the previous fiscal.

Essar Oil UK gets new long term working capital funding

Essar Oil UK, which owns and operates the Stanlow Refinery in Ellesmere Port, Wednesday said it has finalised a new long term working capital facility to fund purchase of crude oil.

Russia's Rosneft in talks to buy stake in Essar Oil

The stock has surged over 56 percent in the last six trading sessions.

Essar Oil to ramp up coal gas production in Bengal

Additional 142 wells have been drilled and presently are at various stages of the hydrofracking- completion-dewatering cycle for gas production increase up to 1.2 million scmd.

Essar Oil Q4 net profit drops 46% to Rs 546 cr

Essar Oil Monday posted a 46 percent drop in net profit at Rs 546 crore for the March quarter mainly due to inventory valuation loss arising from dip in oil prices and a one-time interest cost.

Essar Oil's CBM block production rises to 0.5 mmscmd

Essar Oil said it has built a high quality infrastructure gas conditioning and compression stations, in-field pipelines of 120 kms and last mile pipeline connectivity network to end users of about 60 kms.

Essar Oil becomes India's largest CBM gas producer

Indian oil and gas producer Essar Oil on Monday said it has become India`s largest coalbed methane (CBM) gas producer as its gas unit in Raniganj in West Bengal crossed production of 5 lakh standard cubic metres per day (scmd) recently.

Zero tolerance policy towards illegal acts: Essar

Days after one of its employees was arrested in the corporate espionage case, Essar Oil Wednesday said it is a law abiding corporate and had not authorised anybody to access stolen oil ministry documents.

Reliance, Essar stocks take a beating amid 'espionage' scandal

Stocks of Anil Ambani-led Reliance Group companies, Essar Oil and Mukesh Ambani-led Reliance Industries Ltd witnessed huge selling pressure Monday as investors booked profit amid concerns relating to the "corporate espionage" scandal.

India asks refiners to cut Iran oil imports ahead of Obama visit: Sources

India has asked its refiners to slash oil buys from Iran in the next two months to keep the imports in line with the previous fiscal year`s levels, sources with knowledge of the matter said, days ahead of President Barack Obama`s visit to New Delhi.