Both the projects, awarded through international competitive bidding, are on lump sum turn key basis and shall be executed concurrently, the company added.
Much of the procurement was undertaken in Madhya Pradesh at 22.91 lakh tonnes, followed by Rajasthan at 15.58 lakh tonnes and Gujarat at 4.60 lakh tonnes till January 16 of this 2018-19 crop year (July-June).
RBI had in October last year relaxed external commercial borrowing (ECB) policy for IOC, Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) to allow them to raise USD 10 billion in overseas loans for working capital needs.
Taliban fighters are threatening major oil wells near the northern Afghan city of Sar-e Pul following days of fighting in which dozens of members of the security forces have been killed and wounded, officials and residents said on Friday.
Malaysian palm oil futures rose to their highest in nearly two weeks on the first trading day of 2019, after world’s largest edible oil importer India announced import tax cuts, amid expectations of a fall in production.
Amid mixed Asian cues and falling crude oil prices, the domestic indices opened in the green on Wednesday. All sectors, except power and Tech, traded in green.
Oil prices fell to their lowest in more than a year on Friday, on course for their biggest one-month decline since late 2014, even as oil producers considered cutting production to try to stem a rising global surplus.
Oil bounced above $63 a barrel on Wednesday to claw back some of the previous day’s 6 percent plunge, lifted by a report of an unexpected decline in U.S. crude inventories.
Oil prices dropped sharply on Tuesday, snapping a four-day winning streak amid concerns about rising global supplies as OPEC weighs a possible cut in production.
Brent LCOc1 was up 19 cents, or 0.3 percent, at $66.81 a barrel by 1:39 p.m. EDT (1839 GMT). The global benchmark looked set for a third day of gains since hitting an eight-month low on Tuesday, but was down more than 4.7 percent on last week’s close.