Subir Rahaa former Directorof Indian Oil Corporation and ex chairman and MD of Oil and Natural Gas Corporation received global recognition as Energy Executive of the year 2005, from the Petroleum Economist, London,in September 2006... (wikipedia)
We have received this demand and we are shocked.
But these kinds of things keep happening in our business.
We don't have immediate plans to sell our stake in IOC but we are certainly looking at GAIL.
The Syrian acquisition is a major breakthrough for us.
Public-sector companies cannot be treated as government departments. Companies are expected to make profits, departments are not.
This joint acquisition opens a wholly new set of opportunities for both the companies to collaborate on the oil and gas value chain.
The key reason for our increase in profit was global crude price volatility.