,
4 tweets,
2 min read
Read on Twitter
1/ Cabinet Committee on Economic Affairs chaired by PM Modi has taken the decision on a deal in which PSU oil companies over paid huge amount higher than the valuation to acquire minority stake in an oil field owned by Rosneft where production is falling.
scroll.in/article/910862…
scroll.in/article/910862…
2/ Once oil PSUs over paid, Rosneft took over the Essar Oil’s Vadinar refinery and fuel pump network in Gujarat the adjacent Vadinar port and related infrastructure for 86,100 crore.
Experts say, Rosneft payed double the valuation for the assets!
Experts say, Rosneft payed double the valuation for the assets!
3/ It was salvaged due to the involvement of Russian President Putin and Indian PM Modi, who were keen for it go through, and after the consortium agreed to pay $13 billion - more than double what Rosneft had initially valued Essar at - Reuters
reuters.com/article/us-rus…
reuters.com/article/us-rus…
4/4 What was PM's interest in this Essar Deal? Why did Cabinet Committee on Economic Affairs chaired by Modi approve the inflated price for the minority stake in an oil field where production is falling drastically every year?
Another mystery deal under Modi government
Another mystery deal under Modi government
