GAIL to acquire 49% equity in Leafiniti Bioenergy
GAIL (India) Limited has signed an agreement to buy 49 per cent of the shares in a company called Leafiniti Bioenergy Private Limited (LBPL). The other 51 per cent will be owned by TruAlt Bioenergy Limited (TBL). This deal, signed on August 11, 2025, aims to create new projects that will produce Compressed Bio Gas (CBG). This partnership will only go forward if certain conditions are met and the government’s Department of Investment and Public Asset Management (DIPAM) approves it. Under the agreement, GAIL gets important rights in how LBPL is run. GAIL will appoint two out of four directors on LBPL’s board and GAIL will also nominate the first Chairman of the board. GAIL will appoint LBPL’s Chief Financial Officer (CFO). If LBPL issues new shares, GAIL has the first chance to buy them to keep its 49 per cent ownership. GAIL can also block any changes to LBPL’s share structure. If TBL wants to sell its shares, GAIL has the first right to buy them, or GAIL can sell its shares alongside TBL. There’s also a lock-in period, meaning shares can’t be sold for 5 years from the deal’s completion, or 3 years after 6 CBG projects are running, whichever comes first.
The Gulf calling as India rethinks its oil map beyond Russia
India is preparing to lean more on West Asian oil suppliers such as Saudi Arabia, the UAE and Iraq, as the United States tightens the screws over its imports of Russian crude, reported Mint citing people familiar with the matter For decades, India’s refiners sourced most of their crude from West Asia. That changed three years ago when Russia, shut out of European markets after invading Ukraine, began offering deep discounts. Saudi Aramco and Abu Dhabi National Oil Co., the energy flagships of Saudi Arabia and the UAE and among West Asia’s top crude oil producers, are now back on the list of suppliers India may turn to. As per the report, import of Russian oil will continue, but India is also looking at diversifying its imports, and higher supplies from West Asia are being looked at.