BHARAT-SHELL BACKING OUT FROM INDIAN TURF
Article Abstract:
Bharat-Shell, a joint venture between Shell International and Bharat Petroleum Corporation Ltd (BPCL), has exited the bulk liquefied petroleum gas market due to declining margins and depressed global prices. The company has closed down several offices around the country, downsized operations and deferred all expansions. It was able to get only a small customer base of 15,000 connections, but will continue to supply to them. It has transferred lease rights to its Ratnagiri import terminal, having a cryogenic storage capacity of 20,000 tonnes, to BPCL. (khr)
Comment:
Bharat-Shell, a joint venture between Shell International and Bharat Petroleum Corporation Ltd (BPCL), has exited the bulk liquefied petroleum gas market due to declining margins and depressed global prices.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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NAVA BHARAT'S NET DIVES
Article Abstract:
The net profit of Nava Bharat Ferro Alloys has fallen to Rs33 lakh in the first half of 1998-99 against Rs6.68 crore in the first half of 1997-98. The company's sales increased by 17 percent to Rs86.44 crore from Rs74 crore while interest increased to Rs14.64 crore from Rs3.67 crore. The high interest cost on the capital outlay for the company's new power and ferro alloy projects and the recessionary trends in the steel sector have affected its profits. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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