Oil Search eyeing acquisitions in Papua New Guinea
Oil Search Ltd said on Tuesday it is looking for acquisitions in Papua New Guinea, where it holds the bulk of its assets, but Managing Director Peter Botten said deals may take some time as buyer and seller expectations remain wide apart.
Fe Exclusive: No extension for Power, Oil & Gas tax holidays
The finance ministry will spell out the road map to phase out corporate tax exemptions and incentives in a fortnight, ruling out further extensions of the tax holidays for specific sectors such as power, oil & gas and infrastructure and the area-based tax waivers. The road map could also feature withdrawal of sops like weighted deduction of research expenses and a reduction in the marginal rate of tax for Indian branches of foreign companies from 40% at present to 35%, sources privy to the matter.
Japanese Oil and Gas Interests Eye Opportunities in Iran
Japan and Iran will start negotiations on an investment accord once sanctions are lifted following last month's landmark international deal on Tehran's nuclear program, business daily Nikkei Asian Review reported on Wednesday, citing Japanese government sources.