Monday, January 4, 1999
Lukoil offers ONGC Videsh stake in oil block
Russia's largest petroleum company (in terms of oil reserves), Lukoil, has offered ONGC Videsh up to 49 per cent stake in a 8,000 sq km oil block at the North Caspian Sea.
FIs may review Modern group bailout plan
Financial institutions are expected to review Modern group's bailout package following its failure to meet the deadline of December 31, 1998, for the sale of Modern Denim. The review is expected to come up at the next meeting of the heads of financial institutions.
Madras Refineries in marketing tieup talks with Indian Oil
Madras Refineries has begun discussions with Indian Oil Corporation on a formal marketing arrangement for products of its Chennai-based facility. One round of talks has already been held with more to follow during the next few months.
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