Banking & Financial Services
Income Tax Calculator
Personal Loan Calculator
Car Loan Calculator
Home Loan Calculator
Essar Oil picks Trafigura, BP for $1 billion oil-backed loan, as Indian refiner`s new owners seek to diversify financing base
Tue, Mar 20, 2018
Russian oil major Rosneft, fund UCP and Swiss commodities trader Trafigura bought Essar Oil`s large refinery, 3,500 fuel stations and infrastructure for $12.9 billion last year. Essar Oil has long relied entirely on funding from Indian banks while the new shareholders want to reduce exchange costs by adding alternative financing sources and directly use dollars to buy its oil instead
Despite lawsuits, Russia's Rosneft says not after Sistema's assets
Wed, Dec 13, 2017
A Russian court froze $1.7 billion of assets on Tuesday, at Rosneft`s behest, prompting Sistema`s shares to fall by 9 percent in early trade on Wednesday.
Russia's Rosneft says managing exit from OPEC deal is a serious challenge
Wed, Nov 15, 2017
Russian Energy Minister Alexander Novak met Russian oil company executives in Moscow on Wednesday ahead of talks in Vienna at the end of November between OPEC and non-OPEC producers.
Essar Oil-Rosneft deal impact: ICICI Bank's exposure reduces by 50%
Mon, Aug 21, 2017
Essar Oil on Monday completed its deal with Russia's Rosneft. Few banks have large exposure to the Essar Group and with this deal concluded it comes as a sign of relief.
Essar Oil-Rosneft Rs 83,000 crore deal concludes; eyes to pay Rs 4000 crore to Indian lenders
Mon, Aug 21, 2017
All-cash sale deal consists of Essar Oil's 20 million tonne refinery at Vadinar in Gujarat and 3,500 retail outlets across the country.
Petya ransomware virus is back amid cyber attack - Swiss agency
Tue, Jun 27, 2017
Russia`s top oil producer Rosneft said a large-scale cyber attack hit its servers on Tuesday, with computer systems at some banks and the main airport in neighbouring Ukraine also disrupted.
JLF gives nod to Rs 86,000 crore Essar Oil-Rosneft deal
Fri, Jun 23, 2017
The sale transaction decision (Essar Oil-Rosneft deal) was announced on October 15, 2016 when Prime Minister Narendra Modi met Russia's Vladimir Putin in BRICS Summit held in Goa.
Russia's Rosneft CEO says takeover of India's Essar is closed
Thu, Jun 22, 2017
The deal, where Rosneft will hold a 49 percent stake, will allow the Russian company to increase oil refining output by 20 percent this year.
Russian Rosneft's $12.9 billion Essar Oil deal held up over debt issues
Thu, May 11, 2017
Sources said some lenders might be seeking to gain concessions on other debt with Essar units before giving their approval.
Essar says hopes to close sale to Rosneft-led consortium in next few weeks
Fri, Mar 31, 2017
"The parties are working towards obtaining the requisite approvals to complete the transaction. We are hopeful that the deal will be completed in the upcoming few weeks," Essar said.
Oil wars: How Kremlin's $13 billion Indian deal almost fell apart
Wed, Nov 16, 2016
Putin`s spokesman Dmitry Peskov denied there was any Kremlin intervention in the deal.
ICICI, Axis, StanChart gets back Rs 16,600 crore of Essar Group loans
Sat, Oct 22, 2016
The remaining 2% will be held by minority shareholders after delisting of Essar Oil.
Deal with Rosneft is U.S. sanctions-compliant, says Prashant Ruia
Mon, Oct 17, 2016
He said the deal did not violate the economic sanctions imposed by the U.S. government on Russian entities over Russia`s role in the Ukraine crisis. "The way it is structured, it is fully compliant. We are well within the rules that govern Russian companies."
Russia's Rosneft, partners to invest nearly $13 billion in India's Essar Oil:CEO
Sat, Oct 15, 2016
A group led by Russian oil major Rosneft will invest around $12.9 billion (nearly Rs 85,820.5 crore) in India's Essar Oil, Chief Executive Igor Sechin told reporters on Saturday.
Russian oil majors Rosneft, Gazprom Neft raise output of hard-to-recover crude
Mon, Sep 26, 2016
Russian oil majors Rosneft and Gazprom Neft are raising the share of production from hard-to-recover reserves, to counter declining conventional output, showing the complexities facing producer nations seeking to tackle a global oversupply of crude.
Rosneft Q2 profit tumbles 33% on low oil prices
Mon, Aug 15, 2016
Rosneft's total revenue suffered a 7.8% drop, falling to $19.2 billion, slightly exceeding the expectations of analysts quoted by Russia's Interfax news agency.
Essar Oil's fuel exports to fall in 2018-19 as focus shifts to local sales
Sun, Aug 07, 2016
Indian refiner Essar Oil's fuel exports will sharply drop in 2018/19 as it ramps up local sales by doubling its retail network and turns some of its naphtha into profitable gasoline, its managing director said.
ONGC Videsh completes $1.3 billion stake acquisition in Russian field
Tue, May 31, 2016
The field, which has recoverable reserves of 2.5 billion barrels, will give OVL 3.3 million tonnes per annum of oil production.