With 60,799 outlets dispensing petrol and diesel at the end of October, India is behind only US and China in number of petrol pumps, data available from Petroleum Planning & Analysis Cell of the Oil Ministry.Nov 29, 2017, 15:53 PM IST
Minority shareholders of Essar Oil, who had participated in the company's delisting in 2015, will get an additional Rs 75.48 per share, Essar said in a statement.Aug 22, 2017, 15:23 PM IST
The Essar Group on Tuesday said it will pay an additional Rs 75.48 per share to Essar Oil's ex-shareholders, who tendered their shares at the open offer in the run-up to the delisting of the company that was sold to the Russian giant Rosneft yesterday for USD 12.9 billion.Aug 22, 2017, 15:14 PM IST
The Ruias-promoted Essar Group, as of March 2017, had a long term debt of Rs 1.05 trillion and a working capital loan of Rs 30,000 crore at the holding company and group companies level, taking the total burden to Rs 1.35 trillion.Aug 21, 2017, 19:56 PM IST
On the 12-member board, Rosneft would have four nominee directors and UCP two, including Fountain. Trafigura would have two nominee directors (CEO is not part of the board).Aug 21, 2017, 18:45 PM IST
The Ruias-run Essar Oil on Monday announced the completion of sale of its India assets to the Russian government controlled Rosneft-led consortium for USD 12.9 billion.Aug 21, 2017, 12:07 PM IST
The Essar group has crossed the last hurdle to complete the sale of its Gujarat refinery to Russia's Rosneft, with the lenders, including LIC, giving the go-ahead to the deal, sources said.Jun 23, 2017, 13:04 PM IST
Essar Oil, India's largest private fuel retailer, plans to double the number of petrol pumps it has in the country to 5,600 in 12-18 months, the firm's Chairman Prashant Ruia said.Dec 22, 2016, 18:25 PM IST
ICICI Bank's stock surged 7 percent Monday, adding Rs 9,771.57 crore to its market valuation, as NPA worries in the banking sector receded following the USD 13-billion asset sale by Essar Oil for paring debt.Oct 17, 2016, 18:34 PM IST
Russian oil giant Rosneft, together with Singapore-based trading firm Trafigura and Russia-based financial investor UCP are likely to acquire 97.4 percent stake in Essar Oil for about USD 13 billion. This transaction is expected to become the biggest foreign direct investment inflow into India.
Oct 14, 2016, 09:50 AM IST
After stitching a deal to sell 49 percent stake in Essar Oil to Russia's Rosneft, the Ruia family is looking at selling another 25 percent stake in the company to an oil trader or a strategic investor like Saudi Aramco.Jun 30, 2016, 14:08 PM IST
Essar Oil, India's second largest private oil refiner, plans to nearly double its petrol pumps to 4,300 in next 18 months, a senior company executive said.Jun 19, 2016, 18:44 PM IST
New Delhi: State-owned IOC, BPCL and HPCL have struck a temporary deal with Reliance Industries and Essar Oil to resume buying petrol and diesel from private refiners on revised terms.Jun 07, 2016, 17:58 PM IST
India has agreed to pay Iran an interest of 1.5 percent on USD 6.5-billion that refiners like Essar Oil and Mangalore Refinery (MRPL) owe it in oil dues, as a 'goodwill gesture'.
May 03, 2016, 16:03 PM IST
Iran, no longer under sanctions, has ended free shipping of crude oil to India and has terminated a three-year old system of getting paid for half of the oil dues in rupeesApr 14, 2016, 15:52 PM IST
Russia's top oil producer Rosneft today said it has reached a preliminary agreement to buy 49 percent stake in Essar Oil and the deal is likely to be concluded by JuneMar 16, 2016, 18:49 PM IST
With US lifting sanctions, Iran has told Indian authorities that the three-year old mechanism, paying 45 percent of oil import bill in rupees and keeping the remaining 55 percent pending for payment channels to clear, has come to an end.Feb 07, 2016, 18:31 PM IST
Essar Oil's delisting on Wednesday got through as the markets regulator Sebi gave its go-ahead to the stock exchange BSE to accept nearly 2 crore shares tendered by the state-run LIC for the promoters' buyout offer.Dec 23, 2015, 12:15 PM IST
Shares of Essar Oil surged over 15 per cent today after capital market regulator Sebi gave more time to the promoter of the company to finalise the delisting offer.Nov 09, 2015, 13:49 PM IST
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.
Oct 04, 2015, 11:04 AM IST