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Nidhi Verma, November 21, 2017 ONGC Videsh Ltd (OVL), the overseas investment arm of the country’s top explorer Oil and Natural Gas Corp, said on Tuesday it had acquired a 15% stake in Namibia’s offshore Block 2012A from Tullow Oil. OVL executed the deal through its subsidiary ONGC Videsh Vankorneft Pte Ltd, it said in a statement.  Tullow Namibia Ltd had a 25% stake in the block in Namibia’s Petroleum Exploration License area (PEL)0030. Eco Oil and Gas Namibia (Pty) Ltd, with a 32.5% stake, is the operator of the block. ONGC Videsh last month bought a 30% stake in PEL 0037 from Tullow Oil. Reference: http://www.livemint.com/Companies/xQ90YK0kl5GVY78G8osh4K/ONGC-buys-15-stake-in-Namibia-offshore-block-from-Tullow-Oi.html

Sayatan Bera, November 21, 2017 Ahead of the crucial Gujarat assembly elections, the centre last week raised import duties on a range of edible oils, in a bid to support growers who are bearing losses due to plunging domestic prices. On 17 November, India, the largest importer of edible oils globally, raised import duties on crude palm oil from 15% to 30% and that of refined soybean oil from 25% to 40%. While the duty on crude soybean oil was raised from 17.5% to 30%, import duty on refined soybean oil was raised from 20% to 35%. The hike in import duties on edible oil is the highest in a decade—in a bid to encourage farmers at home—and comes ahead of the Gujarat assembly elections in December. For the ruling Bharatiya Janata Party (BJP), retaining Gujarat, which it has ruled for over two decades, is crucial as results in the state can set the mood for the general elections in 2019. Gujarat is a major producer of groundnut contributing about 40% to India’s total production