BPCL disinvestment likely to be delayed for lack of partnership among bidders

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 […]

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Record high aluminium prices in the US and Europe likely to encourage exports of the metal from India; Hindalco, Vedanta to gain

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 […]

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India offers 21 oil and gas blocks in OALP-6 auctions; expects $300-400 million investment

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 […]

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Vedanta Zinc International launches new iron ore product line in South Africa

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 […]

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India allows 100% FDI in oil PSUs approved for disinvestment in preparation for BPCL sale

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 […]

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Supreme Court stays NGT’s order to stall mining operations of Vedanta’s iron ore mines in Goa

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 […]

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