Skip to main content

Note on Essar Oil limited with respect to real estate

EOL WRT RETAIL ESTATE[1]:
1.      TOTAL PER DAY VOLUME OF EOL: 700,000 bpsd (barrels per stream day) of global crude-refining
2.      VADINAR TOTAL PER DAY VOLUME: 300,000 barrels a day
3.      INDIAN REFINERY CAPACITY OF EOL: 20MTPA refinery at Vadinar in Gujarat
4.      RETAIL ALLIANCES IN: Automobiles, Lubricants, Agrochemicals, Banking, Telecom and Food and Beverages. GSPC, GAIL GAS, Sabarmati Gas, Adani Gas and Gujarat Gas Corporation for selling CNG.
5.      RETAIL TIE UPS: Exide, SERVO, CASTROL, TOTAL, ELF, J K Tyres, Bosch, SBI , Western Union Money Transfer, Amul, Café Coffee Day, Dinshaws, Heritage Foods, Pepsi, Biryani House, National Seeds Corporation. MGL and Aegis Logistics for selling Auto LPG
6.      NO. OF EOL RETAIL OUTLETS: 1635
7.      PRODUCT OFFTAKE AND INFRASTRUCTURE SHARING AGREEMENTS WITH: Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Indian Oil Corporation (IOCL)
8.      FIRST RETAIL OUTLET: Devrukh in Ratnagiri District of Maharashtra

EOL WRT REFINERIES:
1.      MEHSANA OIL BLOCK, CAMBAY, INDIA: 100% participating interest(Except ESU field where it has 70% interest)
a.       CUMALATIVE OIL PRODUCTION IN 2012: 7,300 barrels
b.      CONTRACT: 25-year production sharing contract (PSC) with the Government of India and ONGC in July 1998
2.      RANIGANJ BLOCK, RANIGANJ, WEST BENGAL, INDIA - 100% interest
a.       CONTRACT: 35-year contract with the Government of India in July 2002
b.      TEST PRODUCTIVITY: 250,000+ scm/d of gas
c.       TOTAL RESERVES: 18.8 million barrels of oil
3.      RATNA AND R-SERIES, OFFSHORE MUMBAI, INDIA:  50% interest together with ONGC (40%) and Premier Oil (10%)
a.       CONTRACT: Development of the field remains subject to signing the Production Sharing Contract with the Government of India
4.      RAJMAHAL BLOCK, JHARKHAND, INDIA - 100% interest
a.       TOTAL AREA: 1,128sq. km
b.      CONTRACT: Awarded the Rajmahal CBM Block in the CBM IV round of bidding conducted by the Government of India
5.      TALCHIR BLOCK, ORISSA, INDIA - 100% interest
a.       TOTAL AREA: 557sq. km.
b.      CONTRACT:  Awarded the Talchir Block in the CBM IV round of bidding conducted by the Government of India
6.      IB VALLEY BLOCK, ORISSA, INDIA - 100% interest
a.       TOTAL AREA: 209sq. km.
b.      CONTRACT: Awarded the IB Valley Block in the CBM IV round of bidding conducted by the Government of India
7.      SOHAGPUR (NE) BLOCK, MADHYA PRADESH, INDIA - 100% interest
a.       TOTAL AREA: 339sq. Km.
b.      CONTRACT: Awarded the Sohagpur (NE) Block in the CBM IV round of bidding conducted by the Government of India
8.      ASSAM BLOCKS, ASSAM, INDIA - 100% interest, wherein 10% held by EOL and the rest 90% by the parent company.




[1] http://www.essar.com/section_level1.aspx?cont_id=fBlwNPJhC0c=

Comments

Post a Comment

Popular posts from this blog

EXPULSION OF A MEMBER

The termination or cessation of a membership can be undertaken pursuant to section 41 of the Companies Act, 1956, whereby the member may be expelled from membership. 1.       Public Limited Company The concept of expulsion of a member of a company by the Board of Directors, pursuant to alteration of articles by special resolution [1] had been attended to by the erstwhile Department of Company Affairs (“ Department ”) vide Circular No. 32/75 [2] (“ Circular ”). The Department opined that [3] “ …….that amendment of articles of association of a company providing for expulsion of a member of the management is opposed to the fundamental principles of the company's jurisprudence and is ultra vires the company. The principles laid down by the Supreme Court in this case [4] , even though pertaining to the refusal of a company to the admission of a person as a member of the company, are applicable even with greater force to a case of expulsion of a...
6 comments
Read more

Express Industry Council of India Vs Jet Airways (India) Ltd. & Others.

Nature of Case: Inquiry under section 19(1)(a) Competition Act, 2002 Case No. 30 of 2013 Brief Summary: The Competition Commission of India (“ CCI ”) imposed penalties totalling Rs 258 crores (INR 2.58 billion) on Jet Airways, IndiGo and SpiceJet for cartelisation in fixing fuel surcharge (“ FSC ”) for transporting cargo. The inquiry was initiated against 5 airlines namely Jet Airways, IndiGo Airlines, Spice Jet, Air India, and Go Air based on a complaint filed by Express Industry Council of India under Section 19(1)(a) of the Competition Act, 2002 ( “Act” ) in May 2009 against the FSC for transporting cargo by Airline companies. The principal issue was whether the Airlines had operated in a “concerted action” by overcharging for cargo freight. Though the enquiry conducted by the Director General (“ DG ”) found that the Airlines were not resorting to any collusion, the CCI rejected the DG’s findings and penalised three carriers, namely Jet Airways, InterGlob...
6 comments
Read more

NON-COMPETE AND NON-SOLICIT CLAUSES

Non-Compete clause bars employees from competing with the business of the former employer during the term of the employment, as well as post termination of the employment agreement. The non-compete clause is a relatively common to employment agreements with key employees, directors and promoters.  Non-Solicitation clause prohibits the employees from persuading the former employer’s customers, workforce, third parties like agents or suppliers etc from terminating their relationship with the employer and join the former employee.  Below are the frequently asked question on non compete and non solicit clauses and their impact on employee agreements in India. 1. Whether a non-compete clause is enforceable against an employee in India as a matter of law.  1.1 Pursuant to the provisions of the Indian Contract Act, 1872, the law governing commercial agreements and transactions, agreements wherein any restraint or limitation is imposed, which restricts either...
Post a Comment
Read more