IOC MARKETING TIE-UP WITH RPL, EOL GETS BOARD NOD
Article Abstract:
The board of directors of the Indian Oil Corporation (IOC) has approved the marketing tie-up with Reliance Petroleum Ltd (RPL) and Essar Oil Ltd (EOL). Reliance Petroleum Ltd and Essar Oil Ltd can form joint ventures with the Indian Oil Corporation for marketing the de-controlled petroleum products. The joint ventures will use the network of the Indian Oil Corporation but can have their own logo. In the transition period up to 2002 AD, the Indian Oil Corporation will get 50 percent of the products and the balance would be distributed between the Bharat Petroleum Corporation Ltd and the Hindustan Petroleum Corporation Ltd. The joint ventures will also market controlled products like petrol and diesel in the de-regulated regime. The oil pool will not bear the export losses of the refineries in the transition period. Reliance Petroleum Ltd, with 16 million tonnes, and Essar Oil Ltd, with 10 million tonnes, are to freeze their capacities at the current levels. Reliance Petroleum Ltd and Essar Oil Ltd should not directly market their products during the contract period. (uh) (kvr)
Comment:
The board of directors of the Indian Oil Corporation (IOC) has approved the marketing tie-up with Reliance Petroleum Ltd (RPL) and Essar Oil Ltd (EOL).
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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RELIANCE PIPELINE LIKELY TO IMPACT REFINERY PROJECTS
Article Abstract:
Reliance Petroleum Limited's (RPL) proposal to lay 3,000 km pipeline across six states is likely to hit new refinery projects coming up in India. The proposal will further decrease the profit of the other companies. All the refineries have their own market envelope in which they sell their products. The proposed RPL pipeline will go through five such envelopes. The profitability of the Indian Oil Corporation's Mathura and Koyla refineries is likely to be affected. Railways transport bulk of the petroleum products by tank wagons and this is likely to be affected too. RPL states that railways will be free to carry more passenger and freight and its pipelines are not competing with any existing or planned pipeline. (rk)
Comment:
Reliance Petroleum Limited's (RPL) proposal to lay 3,000 km pipeline across six states is likely to hit new refinery projects coming up in India.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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