PETRO LINES MAY BE OPENED UP, OIL MAJORS TO BENEFIT
Article Abstract:
The Government of India plans to allow private and foreign investment in petro-product pipelines. This is expected to boost the infrastructure development in hydrocarbon sector. A technical expert group has estimated that Rs25,764 crore is required for infrastructure development in hydrocarbon sector. The pipelines, tankages and transportation will account for Rs13,500 crore. Petronet India Ltd (PIL), a joint venture of Indian Oil Corporation, Hindustan Petroleum, Bharat Petroleum and ILFS, has plans to lay pipelines to their refineries. The private companies will be allowed to lay their pipelines in different routes than the ones laid by PIL. The Government has not cleared the policy yet. It plans to allow 100 percent equity investment by foreign companies for captive pipelines and 74 percent foreign equity in natural gas/liquefied petroleum gas pipelines. For companies that market petro-products, the foreign direct investment is likely to be 74 percent. (rk)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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RELIANCE PETRO, ESSAR OIL ENTER PETRONET INDIA
Article Abstract:
The board of directors of Petronet India Ltd has permitted offering of stakes in the company to Reliance Petroleum Ltd and Essar Oil. Reliance Petroleum Ltd and Essar Oil will acquire 10 percent stake each in Petronet India Ltd, the holding company of all oil pipelines in India. Both the companies will be investing about Rs10 crore each into Petronet India Ltd. Petronet India Ltd will have an authorised capital of Rs100 crore. (ag/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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