BPCL refuses stake in Essar Oil
(Apr 18, 2000)
Bharat Petroleum (BPCL) has finally decided not to participate in the Essar Oil project. The domestic financial institutions were keen to ensure that BPCL takes a 26% stake in the beleaguered 10.5 million tonne project.

More Loans for Essar Oil
(Dec 16, 1999)
Essar Oil’s Jamnagar refinery has got a clean chit by the committee of experts set up by ICICI. The committee was set up to look at the viability of the 12 m tonne refinery project being set up at a cost of Rs.73.56 bn.

Essar Oil refinery gets the go ahead
(Nov 30, 1999)
The committee appointed by financial institutions to look into the viability of the refinery being implemented by Essar Oil has reiterated that the work should not be delayed any further. The refinery is over 67% complete. This has been reported by a leading national daily.

Indian Oil sell-off on the cards
(Nov 25, 1999)
According to newspaper reports, the central government is planning to divest 15% of Indian Oil Corporation's (IOC) equity via the book building route. Earlier the government had decided to divest only 10% of equity.

Essar Oil refinery to undergo viability check
(Nov 24, 1999)
According to newspaper reports, the financial institutions have decided to set up a four-member committee of oil sector experts to examine the viability of Essar Oil's 10.5 MMTPA refinery. The decision was made even as ICICI Ltd., a large financial institution, decided to provide the company with additional funding of Rs 22 bn.

Independent refiners look for tie-ups
(Nov 22, 1999)
According to newspaper reports, Total (France) is exploring the option of picking up a stake in Essar Oil's refinery project, even as it is in talks with Mangalore Refinery & Petrochemicals Limited (MRPL) for equity participation.

IOC steps up new refinery capacity to 18 MT
(Nov 15, 1999)
According to newspaper reports, the Indian Oil Corporation (IOC) has decided to expand the capacity of its refinery at Koyali (Baroda) to 18 m tonnes from the planned 12.5 m tonnes.

Indian Oil – Essar Oil alliance on the horizon?
(Oct 11, 1999)
According to newspaper reports, Indian Oil Corporation (IOC) is examining the prospects of buying 26% stake in Essar Oil refinery (12 m tonnes per annum capacity).