India to increase crude purchases from Nigeria, Abuja says
ABUJA India plans to buy more crude oil from Nigeria, Nigeria's presidency on Tuesday quoted India's vice president as saying during a visit to Abuja.
Reuters Market Eye - Shares in Coal India Ltd(COAL.NS) gain as much as 4.1 percent after Bloomberg news reported that the government plans to raise 200 billion rupees by selling part of its stake in the company.
The report, quoting a draft finance ministry proposal, said the government plans to sell a 5 percent stake to the public and a similar holding to the company.
A senior finance ministry official with direct knowledge of the matter told Reuters the government was looking to raise 180-200 billion rupees via the stake sale, but was yet to decide the mode.
A senior Coal India official said, "We are not aware of this. Nothing has come to us."
At 2.32 p.m. shares were up 2.95 percent at 310.45 rupees.
(Reporting by Abhishek Vishnoi, Rajesh Kumar Singh and Malini Menon)
ALGIERS Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major OPEC producers would find a compromise this week to help ease a global glut of crude.
BERLIN European Central Bank President Mario Draghi is set to face tough questions from German lawmakers on Wednesday about the bank's ultra-loose monetary policy, just as the ECB is considering even more stimulus to revive inflation.