Coal News We love to talk!
India’s Videocon Industries Ltd plans to invest $2.5 billion in oil and gas ventures in Brazil over the next two to three years, the consumer electronics-to-energy group’s chief said, as part of its strategy to boost the business.
“Brazil oil finding is four timesbra higher than the largest oil field in India … It’s just (the) beginning,” billionaire Venugopal Dhoot told Reuters at the sidelines of an industry event.
A consortium that includes Videocon and Brazilian state-run oil company Petroleo Brasileiro SA (Petrobras) earlier this year discovered new light crude oil in the Sergipe basin off Brazil’s northeast coast.
Videocon, which gets most of its revenue from its consumer durables business, has expanded its oil and gas business in recent years with investments in countries including Australia and Indonesia.
In the next three years, Videocon, which also has interests in telecoms and power, will be known as an oil and gas firm, Dhoot told India’s Mint newspaper last month.
- Government to launch portal to ease procedure to lift coal Read more
- ONGC doesn't see sanctions hitting Russia business Read more
- RIL, BP plan to revive $6-bn investment in KGD6, NEC 25 Read more
- LED bulbs procurement price falls 10% more to Rs 64.41/unit Read more
- NTPC's Dadri unit set to install solar-thermal hybrid power plant Read more
- India meeting fuel requirements of other nations', Dharmendra Pradhan Read more
- State power companies seek to import coal to tide over supply crisis Read more
- SC fixes next hearing in RIL gas case on March 24 Read more
- Taking aim at China, India tightens power grid, telecom rules Read more
- Siemens Gamesa commissions 3.375 MW project for NTPC Read more