After selling Innovene, BP must bolster its energy exploration-IIPM News

On October 7, it decided to sell off its petrochemicals unit Innovene for $9 billion to UK-based chemicals company Ineos after having initially toyed with the idea of putting it up for an initial public offering. According to British Petroleum, selling the unit was a better idea than the IPO as it would keep it clear from the un­certainty of market conditions.

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Source: IIPM Editorial, 2006

Research and Publication, IIPM New Delhi

According to IMS Health forecasts, the global generics market is expected to grow at 20% to reach a huge $80 billion by 2008. Generics is the future for drugs, and US is the future for generics. Current low profit margins are simply temporary structural adjustments and would necessarily disappear in the long run as huge supply demand gaps would encourage price increases for all players. Though Ranbaxy should surely look at diversifying its portfolio at other overseas markets too, the current setback should not tempt Ranbaxy to limit its operations and marketing exposure in the most lucrative market of the world.

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Source: IIPM Editorial, 2006

CNPC outbids ONGC yet again-IIPM News

China National Petroleum Corporation (CNPC), China’s largest oil and gas producer, together with Asia’s largest refiner, China Petro­leum and Chemical Corporation (Sinopec), has agreed to purchase the Ecua­dorian assets of Ca­nadian oil and gas producer, EnCana. India’s Oil and Natural Gas Corporation of India (ONGC), emerged as an ‘also ran’ in the race to buy Encana, after it earlier lost out to CNPC in a bid to buy Petro Kawsakhstan. Andes Petroleum Corpora­tion, a joint venture between Chinese petroleum companies, in which both CNPC and Sinopec hold a stake, will buy the assets of EnCana in Ecuador, in a deal valued at $1.42 billion, in cash…

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