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ICICI Bank up 7% on Essar Oil deal; mcap gains Rs 9,771 crore

ICICI Bank up 7% on Essar Oil deal; mcap gains Rs 9,771 crore

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.

Rosneft, Essar Oil $13 billion deal to pay way for biggest FDI investment in India

Rosneft, Essar Oil $13 billion deal to pay way for biggest FDI investment in India

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.

 

 

Ruias plan to sell another 25% stake in Essar Oil

Ruias plan to sell another 25% stake in Essar Oil

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.

Essar Oil looks to double petrol pumps in 18 months

Essar Oil looks to double petrol pumps in 18 months

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.

IOC, BPCL clinch deal with RIL, Essar to restart diesel buy

IOC, BPCL clinch deal with RIL, Essar to restart diesel buy

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.

India to pay 1.5% interest on $6.5 billion Iran oil dues

India to pay 1.5% interest on $6.5 billion Iran oil dues

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'.

 

Iran ends free oil shipping to India, demands payment in Euros

Iran ends free oil shipping to India, demands payment in Euros

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 rupees

Rosneft to buy 49% stake in Essar Oil

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 June

Iran asks India to clear dues worth $6 bn in euros within six months

Iran asks India to clear dues worth $6 bn in euros within six months

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.

Essar Oil delisting gets through as Sebi clears LIC bids

Essar Oil delisting gets through as Sebi clears LIC bids

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.

Essar Oil shares zoom over 15% on delisting relaxations

Essar Oil shares zoom over 15% on delisting relaxations

 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.

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."