https://www.taxtmi.com/circulars?id=4178 The Press Note removes the prior compulsory divestment requirement for foreign equity in actual trading and marketing of petroleum products, and permits foreign investment up to 49% in petroleum refining by Public Sector Undertakings subject to prior approval of the FIPB, without dilution of existing domestic PSU equity; it also reaffirms automatic-route FDI permissions for private-sector exploration, marketing, pipelines and refining. en-us Wed, 12 Mar 2008 00:00:00 +0530 Wed, 01 Oct 2008 09:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4178 The Press Note removes the prior compulsory divestment requirement for foreign equity in actual trading and marketing of petroleum products, and permits foreign investment up to 49% in petroleum refining by Public Sector Undertakings subject to prior approval of the FIPB, without dilution of existing domestic PSU equity; it also reaffirms automatic-route FDI permissions for private-sector exploration, marketing, pipelines and refining. Circulars FEMA Wed, 12 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4178