A consortium of ONGC Videsh Ltd, Indian Oil Corp and Petronet LNG Ltd is in talks to buy about 9-10 per cent stake in Russian natural-gas producer OAO Novateks $20 billion Yamal LNG Project. The consortia is sending a team to Russia this month for negotiations for a stake in the project, sources said.
PMO calls meeting on rising Iran oil imports
With the rising oil import bill casting a shadow on attempts to rein in the CAD, the Prime Ministers Office has called a meeting to discuss raising crude imports from Iran to curtail dollar payouts.
Jaypee to sell few power, cement assets
Jaypee Group is likely to sell some of its power and cement assets in order to pare debt, according to sources. The company is likely to sell equity in two of its hydro power projects and is in discussion with some players.
India growth prospects weak, says OECD
Indias growth prospects in the near term are still weak and is facing financial turmoil triggered by possible tapering of quantitative easing policy in the US, according to OECD.
Indiscipline will not be tolerated: Hero
Hardening its stance against threat of strike by workers at its Gurgaon plant, Hero MotoCorp on Monday said it will not accept any indiscipline. The company said it expects to sort out the issue at the Gurgaon plant very quickly.