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The Cabinet Committee on Economic Affairs (CCEA) approved ONGC Videsh’s (OVL’s) stake acquisition in an Azerbaijan oilfield and pipeline for a little over $1billion. The decision on Thursday allows OVL to acquire the US energy major Hess Corp’s 2.7213% stake in the Azeri, Chirag and the deepwater portion of Guneshli fields in the Azerbaijan sector of the Caspian Sea and 2.36% interest in the Baku-Tbilisi-Ceyhan (BTC) pipeline.

Govt aims R27k cr via divestments

The government expects to raise R27,000 crore through the sale of its stake in state-run companies, 10% lower than the target for this fiscal year ending in March, said disinvestment secretary Ravi Mathur. The government had fixed a target of R30,000 crore in this fiscal year through partial privatisation of state-run companies.

PM forms panel on climate change

Prime Minister Manmohan Singh has constituted a high-level panel, including cabinet secretary and secretaries of various ministries and departments to assist the Prime Minister’s Council on Climate Change. Chaired by the principal secretary to the PM, the Executive Committee on Climate Change will assist the council in evolving a coordinated response to issues relating to climate change at the national level.

Portal for trade, commerce issues

The commerce ministry on Friday launched a portal which will provide detailed information regarding the country’s exports and imports with top 25 trade partners, besides SAARC and Asean. The portal offers exporters and importers a comprehensive guidance for concluding international trade transactions successfully with a specific focus on SAARC, Asean and top

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