Dear Netters Today’s Financial Times (News digest 25 07 2011) reports : Osborne greets BP’s India deal George Osborne will today hail an alliance between BP and India’s Reliance Industries as evidence that British Companies are competing with the best in the world,” as he looks for bright spots in a generally gloomy economic backdrop. “Britain is now making the largest foreign investment in India, “ Mr Osborne will say at a meeting with Pranab Mukherjee, his Indian counterpart. Talks in London are aimed at bolstering trade between the two countries. Ahead of the meeting, the Indian government approved an alliance between BP and Reliance industries to increase oil and gas production, said to be the largest single foreign investment in India. The BP investment in Indian gas and oil could eventually be worth up to $200bn. Bob Dudley, BP chief executive, said:”this transaction is part of BP’s strategy of creating long-term value through alliances with strong partners, taking material positions in significant hydrocarbon basins and increasing our exposure to growing energy markets.” George Parker
I take interest in BP’s operations since I am a minor shareholder. Last year BP made significant loss (possibly £15bn) in the Gulf of Mexico oil spill. Recently, that is after about 7 months’ negotiations, BP failed to strike a deal with Russia’s Rosneft. Our shares continue to tread water, as another news bit euphemistically describes. bhuban _______________________________________________ assam mailing list assam@assamnet.org http://assamnet.org/mailman/listinfo/assam_assamnet.org
