Vilnius  - The Lithuanian government is to sell off its remaining 10 per cent stake in the only oil refinery operating in the Baltic states, Prime Minister Andrius Kubilius said Tuesday.

The buyer is Polish energy giant PKN Orlen, which already owns the other 90 per cent of the Mazeikiu Nafta facility in northern Lithuania, which is one of the biggest commercial enterprises in the Baltics.

State-owned natural gas major GAIL India is set to benefit from the increasing LNG capacities of Petronet LNG plants and commencement of production from the KG-D6 field.GAIL straddles the entire value chain from exploration and production to transmission and distribution, to marketing and processing of gas. 

Analysts anticipate gas demand in India to rise substantially in the days to come, breaking with the underutilisation of gas-based capacities in fertiliser, power and other industries.

Vienna - The price for oil pro

Power and automation technologies firm, ABB India has declared its financial results, posting 11 per cent increase in its profit at Rs 547 crore for the fiscal ended December 31, 2008. The firm earned total revenue of Rs 6,967.50 crore for the fiscal as compared to Rs 6,001.40 crore during last year.

Meanwhile, the Board of ABB appointed Gary Steel as its director and chairman, who is currently serving as Head of Human Resources and Member of the Group Executive Committee of ABB group of companies.

Vienna  - The price for oil produced by the Org