Moscow  - Russian President Dmitry Medvedev urged Ukraine to exercise "common sense" and strike a deal with Russia on gas imports to smooth gas supplies to European customers ahead of a New Year's Eve deadline for gas cuts.

"We can make only one recommendation to our Ukrainian partners: make a reasonable decision as fast as possible," Medvedev said.

New Delhi  - India's Oil and Natural Gas Corporation (ONGC) has acquired London Stock Exchange-listed Imperial Energy Plc for 1.3 billion pounds (1.88 billion dollars), a news report said Wednesday.

An overwhelming 97 per cent of Imperial's shareholders accepted the offer by state-run ONGC's overseas investment arm, ONGC Videsh Limited (OVL), the PTI news agency reported.

Union Govern

ONGC is likely to secure the minimum threshold of shareholder acceptances to acquire the UK-listed Imperial Energy. Final decision by the shareholders would be taken on Tuesday. ONGC can acquire Imperial Energy only after getting nod form 90% shareholders of Imperial Energy. Imperial maintains huge gas and oil reserves in the Russian field and Indian government recently allowed ONGC to go for the acquisition for energy security of the country.

Kochi (Kerala), Dec 30 : Union Petroleum and Natural Gas Minister Murli Deora has said the Government has decided to bring down the prices of petrol, diesel, kerosene and LPG further following the fall in international oil prices.

Deora added that the announcement could be made in a few weeks.

He was speaking here during a function to facilitate Hibi Eden, who was recently elevated as president of the National Student Union of India (NSUI), the student wing of the Congress.

Deora said oil prices in the international market had come down to 37 dollars to 38 dollars a barrel.

Nicosia, Dec 30 : Dana Gas country Director for Egypt Hany Elsharkawi has announced a new important gas and condensate discovery at the El Basant-2 well, in the West El Manzala Concession in the Nile Delta.

Dana Gas is the sixth biggest natural gas producer in Egypt and the first regional private sector natural gas company in the Middle East.

Elsharkawi said Dana Gas was by quite satisfied with the new discovery, which combined with other recent discoveries, showed that the company''s plans were well conceived.