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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (5290)	7/27/1999 9:29:00 AM
From: Mohan Marette	Read Replies (1) of 12475

Indo-Iraq deal in the offing- Kuwait Petroleum willing pick up stake in MRPL Date: 7/27/99 10:58:39 AM India would be signing deal with Iraq India's oil minister V.K. Ramamurthy said that he would be signing a variety of deals with Iraqi officials during his visit to Baghdad. It is expected that the minister will be signing some protocols in different areas such as oil, agriculture, commerce and other areas. Iraq and India have already signed a deal to develop Iraqi oilfields and refineries besides renewing deals to sell crude oil to New Delhi. In the current phase of the deal, Iraq is allowed to sell $5.26 billion worth of oil over six months to buy food, medicine and other humanitarian supplies for its people. ==================== Kuwait Petro willing to pick up stake in MRPL Kuwait Petroleum Corporation (KPC) is in talks with the Mangalore Refinery & Petrochemicals Ltd (MRPL) to pick up a 25% stake in the refinery jointly floated by HPCL and the Aditya Birla group. MRPL is increasing its capacity from 3 to 9mn ton and is short of funds hence it has been scouting for a partner.

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