Oil & Natural Gas Corporation, the

Union government has allowed OVL, foreign subsidiary of ONGC, to go for the acquisition of UK-listed Imperial Energy at the original prices of $2.5-billion. The deal was approved by the government in August when it allowed OVL to participate in the bidding process for the acquisition of Imperial Energy.

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.

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.