Oil and Natural Gas Corporation (ONGC) is trying hard to acquire Imperial Energy for $2.1 billion in the stipulated period. However, there are fewer chances to complete the process in time as 90 per cent of the investors are unlikely to tender their shares within the required time limit.
New Delhi, Dec. 9 : The Union Government has given the signal to the state-run oil company, Oil and Natural Gas Corporation(Videsh) Limited (ONGC) to make a formal offer for acquiring 100 per cent equity in the UK-listed Imperial Energy.
A special meeting of the Cabinet Committee on Economic Affairs (CCEA) was convened to consider the Imperial bid here today.
Cairo - The Japanese company Toyota has expressed interest in investing in wind farm projects in Egypt, said Egyptian Minister of Electricity and Energy Hassan Younes on Sunday.
"Japan is one of the supporters of Egypt's ambitious plan to develop renewable energy. The Japanese government presented two soft loans to help in financing the Koraimat solar station, to generate 140 megawatts," Younes was quoted by the official MENA news agency as saying.
Younes' statement came after he met with representatives of major Japanese companies experienced in the sector of electricity all over the world.
The government has finally slashed the prices of petrol and diesel by Rs 5 and Rs 2 a liter, respectively. Revised prices would be effective from midnight. The step would help to control the inflation rate and increase demand in the economic system. However, the margin of oil marketing companies would decline just as it was starting to improve due to the decline in crude prices in the international market. OMC are likely to suffer a revenue loss of Rs.6,000 crore in the current fiscal due to the recent price revision.
LONDON, Dec. 5 -- The International Energy Agency cut its projection for growth in worldwide oil consumption by 33 percent Friday.
The IEA had previously said oil consumption would grow about 1.5 million barrels a day from 2008-13. Friday, it scaled back the forecast to 1 million barrels a day through the same period, the Financial Times reported.
"For the first time since 1945 most (Organization for Economic Co-operation and Development) countries are expected to face a severe economic recession in 2009," the IEA said in a Medium-Term Oil Market Report. "By the same token, emerging economies are bound to slow down, even if managing to maintain positive growth rates."
Oil and Natural Gas Corporation (ONGC) is trying hard to acquire Imperial Energy for $2.1 billion in the stipulated period. However, there are fewer chances to complete the process in time as 90 per cent of the investors are unlikely to tender their shares within the required time limit. 
Washington - US president-elect B
New Delhi, Dec. 9 : The Union Government has given the signal to the state-run oil company, Oil and Natural Gas Corporation(Videsh) Limited (ONGC) to make a formal offer for acquiring 100 per cent equity in the UK-listed Imperial Energy.
The government has finally slashed the prices of petrol and diesel by Rs 5 and Rs 2 a liter, respectively. Revised prices would be effective from midnight. The step would help to control the inflation rate and increase demand in the economic system. However, the margin of oil marketing companies would decline just as it was starting to improve due to the decline in crude prices in the international market. OMC are likely to suffer a revenue loss of Rs.6,000 crore in the current fiscal due to the recent price revision. 
