As per Times Of India 26 Aug 2008, 1701 hrs IST,PTI
NEW DELHI: UK-listed Imperial Energy on Tuesday said it has chosen ONGC Videsh Ltd over Chinese competitor Sinopec to discuss a possible sale to the Indian company and an announcement is likely shortly. OVL, through its wholly owned subsidiary Jarpeno Ltd, has made a 12.50 pounds per share takeover offer, Imperial Energy said in an e-mailed statement. "Imperial Energy confirms that is in the course of finalising the terms of a possible recommended pre-conditional cash offer with OVL of 1,250 pence per Imperial share," the company said in the statement. OVL's offer values the company at 1.4 billion pounds. "A further announcement is expected later," Imperial said. OVL, the overseas investment arm of state-run Oil and Natural Gas Corp (ONGC), had made a takeover offer last month and earlier this month China Petroleum and Chemical Corp (Sinopec) made a counter offer. Imperial, a relatively small British oil and gas company based in Leeds in UK, has oil producing blocks in Tomsk region of western Siberia in Russia and Kastanai in north-central Kazakhstan. It produced about 10,000 barrels of oil per day in December 2007 and is targeting to raise this amount to 80,000 barrels per day (4 million tons a year) by year-end 2011. The Russian Ministry of Natural Resources said Imperial's Russian Registered Reserves amount to about 450 million barrels of hydrocarbons. Independent assessment of the reserves by DeGolyer and McNaughton in December 2007 suggested in-place reserves of 920 million barrels of oil equivalent.
Tuesday, August 26, 2008
India to Pak: Maintain ceasefire on LoC
India to Pak: Maintain ceasefire on LoC
As per TOI :26 Aug 2008, 1340 hrs IST , PTI
NEW DELHI: With Pakistan again indulging in cross-border firing and militants making yet another infiltration attempt in Jammu and Kashmir on Tuesday, Defence Minister A K Antony termed the developments as a matter of concern and said the ceasefire should be maintained.
"The border firing and attempts of infiltration are a matter of concern," Antony told reporters on the sidelines of a function here. "Our forces are doing their best to prevent these incidents. By and large, they are able to control the situation. Our forces are ready to meet any challenges in the border. So there is no cause of worry," he said. Tuesday's firing by Pakistani troops at a BSF post in Poonch, where four jawans have been injured, is the 30th ceasefire violation since January this year. The number of infiltration attempts by militants into J&K from across the borders too have witnessed a substantial increase, touching over 130 incidents between March and July this year. Antony said though in the last two months, there have been over 20 violations of ceasefire by Pakistani forces and infiltration attempts were on the rise, the Indian security forces were foiling these attempts successfully. "Every summer, these kinds of things (Pakistani firing and militants infiltration) do happen. This year, the cross-border firing incidents are more. But it does not mean the entire border is troublesome. Even now I feel we have to hold on to ceasefire," he said, to a question on the relevance of the November 2003 ceasefire agreement with Pakistan continuously violating it.
As per TOI :26 Aug 2008, 1340 hrs IST , PTI
NEW DELHI: With Pakistan again indulging in cross-border firing and militants making yet another infiltration attempt in Jammu and Kashmir on Tuesday, Defence Minister A K Antony termed the developments as a matter of concern and said the ceasefire should be maintained.
"The border firing and attempts of infiltration are a matter of concern," Antony told reporters on the sidelines of a function here. "Our forces are doing their best to prevent these incidents. By and large, they are able to control the situation. Our forces are ready to meet any challenges in the border. So there is no cause of worry," he said. Tuesday's firing by Pakistani troops at a BSF post in Poonch, where four jawans have been injured, is the 30th ceasefire violation since January this year. The number of infiltration attempts by militants into J&K from across the borders too have witnessed a substantial increase, touching over 130 incidents between March and July this year. Antony said though in the last two months, there have been over 20 violations of ceasefire by Pakistani forces and infiltration attempts were on the rise, the Indian security forces were foiling these attempts successfully. "Every summer, these kinds of things (Pakistani firing and militants infiltration) do happen. This year, the cross-border firing incidents are more. But it does not mean the entire border is troublesome. Even now I feel we have to hold on to ceasefire," he said, to a question on the relevance of the November 2003 ceasefire agreement with Pakistan continuously violating it.
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