Pact with Reliance Petroleum, Essar Oil to aid Indian Oil expansion plans
Indian Oil Corporation's 10-year marketing pact with Reliance Petroleum and Essar Oil prevents the two private sector refineries from adding capacity till March 31, 2004. The five-year freeze on capacity will give Indian Oil time to upgrade its own refining capacities at Mathura and Barauni.

Nestle SA to pick 60% stake in Excelsia Food
Nestle SA is set to pick up a 60% stake in Excelsia Food Ltd - a joint venture between Dabur India and Osem of Isreal. Osem is an associate company of Nestle SA, in which the global food major holds a 47% stake.

IBP seeks OCC dues as funding options dry up
IBP, the stand-alone oil marketing company, has sought recovery of its dues on marketing margins of around Rs 200 crore from the oil coordination committee. The company has made the request as both its funding avenues, public and rights issues, will not take off this year.

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