Mumbai: Reliance Industries Ltd (RIL), Essar Oil Ltd, Oil and Natural Gas Corp. Ltd (ONGC) and Torrent Power Ltd are among companies planning to bid for the ninth round of city gas distribution (CGD), two people aware of the matter said. The Petroleum and Natural Gas Regulatory Board (PNGRB) will offer compressed natural gas retailing licences in 100 cities shortly.
The Petroleum and Natural Gas Regulatory Board (PNGRB) will offer compressed natural gas retailing licences in 100 cities shortly.
Indian refiner Essar Oil is looking to raise over $1 billion from trading houses after its new Russian owners could not raise loans from major Western banks due to sanctions on Russia.
Essar wants to borrow the money for 3-4 years and repay it with cargoes of refined products as it seeks to cut its reliance on lending from Indian banks, banking and trading sources familiar with the discussions said.
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