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BPCL, GAIL sign MouMUMBAI: Bharat Petroleum Corporation Ltd (BPCL) today signed a memorandum of understanding (MoU) with the Gas Authorit...

BPCL, GAIL sign Mou

MUMBAI: Bharat Petroleum Corporation Ltd (BPCL) today signed a memorandum of understanding (MoU) with the Gas Authority of India Ltd (GAIL) for drawing liquefied petroleum gas (LPG) from the latter’s proposed 1,270 km long LPG pipeline from Jamnagar to Loni in Uttar Pradesh. BPCL would draw LPG supplies from the pipeline to feed its proposed as well as existing LPG bottling plants at Ajmer, Loni and Piyala, a BPCL statement said here today. These plants of BPCL would serve as the nodal points for supply of LPG to the neighbouring LPG bottling plants of the industry, it said. The agreement would help BPCL make substantial savings in transportation costs of bulk LPG, it added.

Rupee again falls against US dollar

MUMBAI: The rupee ended four paise lower against the US greenback influenced by uncertain political developments at the interbank foreign exchange (forex) market today. Opening slightly higher at 42.70/75, the rupee further moved up to 42.65/67 level in themorning on good corporate dollar selling, expecting the passage of the budget in the parliament without any debate. But the rupee came under severe pressure in the afternoon as the Lok Sabha was adjourned for the day without passing the budget, resulting in hectic dollar buying by panic importers. The rupee lost all its intra-day gain and closed lower at 42.79/81 as against 42.75/76.

Zeneca takes Cheminor to court

LONDON: Anglo-Swedish drugs giant AstraZeneca said on Wednesday it had filed a law suit against Indian drugs company Cheminor Drugs for patent infringement. The suit has been filed in Trenton, New Jersey, after Reddy Cheminor Inc, a Cheminor group company, filed a new drug application with the FDA to market a generic omeprazole product in the US. Omeprazole is an ulcer treatment and is the largest-selling prescription drug in the world.