BG UPS EQUITY CAPITAL IN HOLDING Co TO $2 MILLION

Article Abstract:

British Gas Plc (BG) plans to increase the equity capital of its 100 percent Indian subsidiary from $500,000 to $2 million. The proposed holding company will coordinate BG's existing and proposed activities in the oil, power and gas sectors in India. BG will also offer project development services and take part in the operations of the projects. BG will offer technical and consultancy services for other firms in the Indian oil and gas sectors. The subsidiary would not only assist BG in its investment plans for India, it will also protect the company's existing and future investments in the country. BG already has a 60.3 percent stake in India's largest gas distribution company, Gujarat Gas. (rs)

Comment:

Plans to increase the equity capital of its 100% Indian subsidiary from $500,000 to $2 mil

Use of Funds, Centrica PLC

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ONGC OWES Rs75 CRORE TO SHIPPING COS

Article Abstract:

The Oil and Natural Gas Corporation (ONGC) owes Rs75 crore to 5 Indian shipping companies. The Shipping Corporation of India (SCI), the Great Eastern Shipping Company (GESC), the Essar Shipping (ES), the Varun Shipping (VS) and the Garware Shipping (GS) had chartered their offshore service vessels to ONGC. SCI, which had chartered 10 vessels for ONGC, has to get Rs30 crore from the company. The other shipping companies had chartered 14 vessels for ONGC. The shipping companies have now moved the Petroleum and Natural Gas Ministry of the Government of India to recover their dues. (ag)

Comment:

Asks Petroleum and Natural Gas Ministry of Government of India to recover dues from Oil & Natural Gas Corp

Deep Sea Foreign Transport, Deep Sea Freight Transportation, Liabilities NEC, Financial assets, Marine transportation, Oil and Natural Gas Corporation Ltd., Shipping Corporation of India Ltd., Varun Shipping, Great Eastern Shipping Company Ltd., Essar Shipping Ltd., Garware Shipping

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GULF OIL INDIA LIMITED

Article Abstract:

Gulf Oil India Limited, Mumbai, has published the unaudited financial results for the quarter ended December 31, 1998. (um)(psr)

Sales, profits & dividends, Brief Article, Gulf Oil Corp.

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