Friday, March 31, 2006

Chevron Enters India

As FDI continue to flow in Indian Markets one sector which did not see any FDI inflow was the refining sector. Finally it will.

Chevron, A US energy major is planning to pick up some stake in the 27000 crore hallmark Jamnagar Refinery to become the first FDI in India's booming refining sector. RIL Chairman Mr. Mukesh D Ambani is in US to meet the top officials of Chevron and closing in on signing a pact.

Earlier media had reported that RIL was planning to sell its 10 % stake to some of the western oil majors in a bid to expand its reach into western countries and to ensure long term supplies from these markets.

No comments: