Russia's top oil producer Rosneft will buy 49 per cent stake in Essar Oil for about USD 3.2 billion after excluding the Mumbai-based firm's flourishing coal-bed methane (CBM) business. Rosneft, the world's top listed oil producer, will get a hold in India's second biggest oil refinery as well as its 1,600 petrol pumps that will more than triple to 5,000 in two years. The Russian firm will also supply 10 million tonnes a year of crude to Essar Oil's 20 million tonnes per annum Vadinar refinery in Gujarat for 10 years. "Rosneft and Essar Oil & Gas Ltd / Essar Energy Holdings Ltd, companies incorporated and managed under the laws of Mauritius, have signed a non-binding Term Sheet with regard to Rosneft's participation in the equity capital of Essar Oil Ltd with a share of up to 49 per cent," Essar Oil said in a statement. The proposed transaction is conditional upon various factors such as due diligence, determination of the transaction price, execution of definitive transaction documents and receipt of requisite approvals, it said without disclosing the deal size.
About Money99
Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.
0 comments:
Post a Comment