IEA has forecast that in 2011 demand will grow by 1.4 million bpd to 89.4 million bpd.
To be second Indian company after Essar to have a refinery abroad
The transaction will lead to an open offer for minority holders.
The agreement came in after the Ruias agreed to clear most of the Rs 26,000-crore dues to the lenders on completion of the transaction.
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