Videocon Industries clarifies on news item
Videocon Industries (Q, N,C,F)* Ltd has clarified that the exploration of crude oil activities is the business plan of the company, but in an article published in a financial daily, it is incorrectly mentioned as Videocon International Ltd.
The board of the company is examining the exploration and development opportunities in India, Sudan and the Middle East, consequent to amalgamation of Petrocon India Ltd with the company.
The company has signed a memorandum of understanding (MoU) with Abdelhalem Ismail Almutaafi, the governor of Khartoum State of the Republic of Sudan on March 21, 2005 for investing and developing projects in the oil sector.
This clarification is with reference to the news item which appeared in a leading financial daily titled, `Videocon to buy up to 76 per cent in Sudan oil fields`.
Shares of Videocon Industries were trading at Rs 263.00, up 4.99 per cent.
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- Unpaid Debt A comprehensive overview of the role of the Lundin Consortium in the oil war. ECOS calls upon the Swedish, Austrian and Malaysian governments to investigate whether, as a matter of international law, Lundin, OMV and Petronas 'were complicit in the commission of war crimes and crimes against humanity by others during the period 1997-2003.’ In response, the Swedish Public Prosecutor for International crimes opened a criminal investigation into ‘links between Sweden and the reported crimes’.
- In Depth For more specific information about the Lundin court case please visit the Unpaid Debt dossier.
