The Big Share: GOGL Pledges Up to Rs 20 Million to GNRL Each Year

Gujarat Natural Resources Ltd. (GNRL) fortified its financial structure by entering a revenue-sharing contract with its step-down subsidiary company, GNRL Oil & Gas Limited (GOGL). Through this contract, GOGL commits to sharing part of the business revenue with GNRL, and that will go up to a maximum of Rs 20 million every year. The agreement comes as part of a larger strategic move to promote revenue generation on existing assets. GNRL has a 100% holding in GNRL Oil & Gas (I) Private Limited, with 100% holding in GOGL. It is part of GNRL's long-term growth strategy in the oil and gas business, where GNRL has a number of producing blocks in the Cambay basin.

 

Source: Gujarat Natural Resources Ltd., BSE, and Company Website.