Sensex up 65 points in early trade

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Agencies: Mumbai, Nov 21 2012, 09:28 IST

ministry have narrowed their differences over auditing of the controversial KG-D6 block and pricing of natural gas, raising hopes of quicker approvals and development of more fields in the gas-rich region, government and industry sources said.

* Jindal Power & Steel has started producing coal at its mine in Mozambique this month, with first exports expected by January next year, the company's country head for Mozambique said at an industry conference on Tuesday.

* The cabinet committee on economic affairs will on Thursday consider a proposal to sell A 9.5 percent stake in NTPC It will also consider a proposal to allow state miner NMDC to acquire 50 percent stake in Legacy Iron Ore , a listed Australian entity.

* Oil & Natural Gas Corp is planning to sell dollar bonds to fund the $1 billion acquisition of a stake in oilfields in Azerbaijan, Bloomberg reported on Wednesday.

* Rahul Dhir, the former CEO of Cairn India, is teaming up with Warburg Pincus to set up an international oil and gas exploration and production company focused on promising assets in sub-Saharan Africa, a person close to the transaction

said.

* Bharat Petroleum Corp Ltd and Oil and Natural Gas Corp Ltd have put a plan to jointly develop a terminal in Mangalore on hold, senior executives in both companies said.

* The Essar group's Ruias family is working on a plan to lower its stakes in Essar Shipping and Essar Ports, said a source close to the developments. A group spokesperson confirmed the stake sale plan

... contd.

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