IOC MAY FORM MARKETING JV WITH RIL, ESSAR

Article Abstract:

A proposal to set up separate joint ventures is being discussed by Indian Oil Corporation (IOC) with Reliance Industries Ltd (RIL) and Essar for marketing petroleum products of private refineries. This will help IOC have a larger guaranteed product availability while RIL and Essar will have an assured offtake and can leverage the infrastructure facilities of IOC. IOC will have a production capacity of 30-33 percent by the time RIL's and Essar's refineries commence operations but its marketshare would be 55 percent. The refineries of the two companies will have a combined capacity of about 30 million tonnes. IOC will offer its facilities for a fee which is to be paid by the joint venture company. RIL's refinery is to start by the end of 1999 while Essar's will start by the end of 2000 AD. (khr)

Joint ventures, India, Reliance Industries Ltd., Indian Oil Corporation Ltd.

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GOVT LIKELY TO DIVEST IN IBP, INVITES BIDS FROM OIL MAJORS

Article Abstract:

The government has decided to divest its stake in IBP Ltd and has invited bids from companies like Indian Oil Corporation and Bharat Petroleum Corporation Ltd. The government is expected to fix a floor price of Rs2000 crore for its about 1.3 crore shares held in IBP Ltd, which represents a 59 percent stake. (khr)

United States, Sales, profits & dividends, IBP Ltd

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