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Dilip Shanghvi, Subhash Chandra want to turn petroleum barons

Pharma, media tycoons among those in race for marginal oil blocks put up for auctions

An oil refinery

The auction of small and marginal oil blocks has thrown up new names of those who have joined the race to become next oil and gas baron in the country. The elite list starts from the second richest man the country, Dilip Shanghvi, and media tycoon Subhash Chandra, among others.  Shanghvi, the founder of Sun Pharmaceutical, has entered the fray through Sun Petrochemicals, in which he has personal investment. Chandra joined the bidding through Essel Group Middle East. He had earlier picked up 23 per cent stake in Suzlon Energy for an equity investment of ~1,800 crore, giving the ...