India’s plans to privatize Bharat Petroleum Corporation Ltd. (BPCL) has run into rough weather with bidders struggling to find partners and spread their financial risks. According to a Business Standard report, the three suitors – the Vedanta group, Apollo Global Management and I Squared Capital – are talking to global energy giants and sovereign and […]
All three domestic aluminium producers of the country – Hindalco, Balco and Nalco –have decided to undertake major capacity expansion programmes in primary metal and Value Added Products (VAPs). Anil Agarwal-owned Vedanta has said it will make BALCO a nearly 1 million tonnes per annum smelter by building new capacity of 414,000 tonnes over the […]
Global oil majors may be teaming up with investment funds that are already in the race to acquire Bharat Petroleum Corporation Ltd (BPCL). Last year, billionaire Anil Agarwal’s Vedanta group as well as two US funds — Apollo Global and I Squared Capital – had submitted initial bids to buy out the government’s entire 52.98 per cent […]
Record aluminium prices in the United States and Europe will be sustained by Russia’s mining tax for some months, but attempts to push prices even higher are likely to face headwinds from traders cashing in their stocks, analysts said. Russia has imposed a 15% tax or a minimum of $254 a tonne on aluminium exports […]
India launched the sixth round of hydrocarbon blocks auction under the Open Acreage Licensing Programme (OALP), offering 21 blocks spread across approximately 35,346 square kilometres. Investments of around $300-400 million are expected from the round in these oil/gas blocks. India is 85 per cent dependent on imports to meet its oil needs and finding newer […]
India’s mining giant Vedanta Limited in South Africa has launched a new iron ore product line this year at its Black Mountain Mine (BMM) operations in the mineral-rich Northern Cape province to make it competitive, globally cost-efficient and sustainable. According to the Vedanta Zinc International (VZI), it has undertaken advanced steps towards developing a 3 MTPA (Million […]
The government has permitted 100 per cent foreign investment under the automatic route in oil and gas PSUs which have received in-principle approval for strategic disinvestment. The move would facilitate privatisation of India’s second biggest oil refiner Bharat Petroleum Corp Ltd (BPCL). The government is privatising BPCL and selling its entire 52.98 per cent stake in the […]
Restrictions on coal import imposed by the Centre has been cited by Vedanta as one of the major reasons for the frequent breakdown of its 1,980 mega-watt (MW) Talwandi Sabo power plant in Punjab. “One of the major reasons for such frequent breakdown is owing to import coal restrictions and to the challenge in getting import substitute […]
Vedanta Ltd’s Cairn Oil & Gas has commenced oil production from NA #01 facility in Aishwariya Barmer Hills in Rajasthan. “The project is a first in Cairn’s tight oil portfolio with a growth potential to contribute 20 per cent to the company’s vision production,” the company said in a statement. Cairn Oil & Gas however […]
The Supreme Court of India stayed the National Green Tribunal’s (NGT) last month’s order of stalling operations of Vedanta’s mining plant at Dharbandora in Goa for lack of mandatory environmental clearance. A Bench led by Justice LN Rao, while staying the NGT’s March 4 order, also sought response from Goa Foundation, an NGO, which had […]
