Bill on oil board
New Delhi, March 20: Members in the Lok Sabha, including the Opposition, today supported a bill to provide for the establishment of a petroleum and natural gas regulatory board. The bill was earlier passed by the Rajya Sabha. Petroleum minister Murli Deora said the proposed downstream regulator would regulate refining, processing, storage, transportation and distribution of petroleum and natural gas.
Chennai, March 20: The board of EID Parry today approved the company's tie-up with Roca of Spain for a 50:50 joint venture to manufacture bathroom fittings. Roca will invest 50 million euros in the venture.
Calcutta, March 20: The Allabahad Bank-led consortium will select either Japanese firm Sompo or France-based Axa as its foreign partner in non-life insurance venture, the bank's chairman and managing director O.N. Singh said.
Iran gas price
New Delhi, March 20: Iran will offer gas for the proposed Iran-Pakistan-India pipeline project at $6 per million British thermal unit, petroleum ministry sources said.
London, March 20: Moody's today assigned BAA2 senior unsecured foreign currency rating with a 'stable' outlook to Reliance Industries's proposed $150-million debt issue.