The Death of Reliance?
Rather than just purchasing 5%, Chevron should immediately takeover Reliance Petroleum Ltd.
Oil’s well with Mukesh Ambani, especially since Reliance Petroleum Ltd (RPL) IPO got the shot in the arm it needed, thanks to global giant Chevron. And for that matter, Chevron’s $300 million investment for a 5% stake in RPL looks very positive for the Indian oil sector. The fact that Chevron has reserved the right to acquire another 24% of equity stake in RPL is testimony that the optimism is not entirely unfounded. In case Chevron exercises this option, it would be the largest FDI from any MNC in a particular project in India.
Oil’s well with Mukesh Ambani, especially since Reliance Petroleum Ltd (RPL) IPO got the shot in the arm it needed, thanks to global giant Chevron. And for that matter, Chevron’s $300 million investment for a 5% stake in RPL looks very positive for the Indian oil sector. The fact that Chevron has reserved the right to acquire another 24% of equity stake in RPL is testimony that the optimism is not entirely unfounded. In case Chevron exercises this option, it would be the largest FDI from any MNC in a particular project in India.
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Source: IIPM Publication
posted by IIPM @ 1:03 AM
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