Reliance Power and Reliance Natural Resources shareholders have approved the merger of the two Anil Dhirubhai Ambani Group (ADAG) companies in a $11 billion all-stock deal. The conversion rate is four shares of Reliance Natural for every Reliance Power share. The exchange ratio was based on the valuation made by global consultancy firm KPMG. Merged [...]
Oil trader Lukoil said it would stop its occasional gasoline shipments to Iran, adding its name to a growing list of companies pulling out of the country. The decision by Russian energy giant Lukoil to stop shipping gasoline to Iran shows its activity on the world stage is unattractive to investors, advocates say. Western countries [...]
Burma business tycoon Tay Za control the importation and sale of gasoline and diesel fuel. An official at the regime-owned Federation of Chambers of Commerce and Industry and Rangoon-based business sources said the Fuel Oil Importers and Distributors Association (FOIDA) was formed on Jan. 23, with Tay Za as chairman and Aung Thet Mann as [...]