ONGC is close to finalising a stake sale in two of its blocks -- one in the Krishna-Godavari basin and another in the Mahanadi basin -- to British Gas. It is also talking to US-based Noble Energy for offering it stake in some of its blocks in India. ONGC has already agreed to give a stake to Brazilian company Petrobras, Norwegian company Norskhydro and Italy-based ENI in its countrywide blocks.
Company in talks with Reliance Capital, Apollo Pharmacy to offer new services at outlets.
Refusing to divulge identity of the companies, sources indicated that three of them are based in Delhi and the remaining are in Maharashtra.
The price regulatory pharma body has set limits to the extent pharma companies can increase the price of medicines in a year.
The proposed price increase, the first in 18 months, is likely to be in the range of Rs 2 per litre for petrol and Re 1 per litre for diesel, senior petroleum ministry officials said.
Indian Oil, Bharat Petroleum, Hindustan Petroleum to open over 3,000 outlets this year. Even losses of over Rs 300 crore (Rs 3 billion) per day from selling automobile fuels have not stopped government-owned oil marketing companies from expanding their retail network across the country.
Karmayog, a leading NGO which recently carried out a CSR rating of top 500 Indian companies, says that only two drug companies - Dr Reddy's and Lupin - have done work on this front. While the two firms scored three out of five, 30 other drug firms failed to perform satisfactorily. Nine of the companies, including leading ones such as Nicholas Piramal, Panacea and Glenmark did not score at all.
Rathod, an IP professional attached to a global generic pharmaceutical company, draws hundreds of readers from across the IP space to his genericpharmaceuticals.blogspot.com.
Even as a lack of clarity in regulations is preventing Indian medical device manufacturers from making their presence felt in the $2 billion domestic medical equipment market, foreign players, mostly from the United States, are increasingly finding the country a preferred destination.
Indian Oil Corporation (IOC), the country's largest oil refiner and marketing company, is looking to cut operating costs in order to offset the daily loss of Rs 150 crore (Rs 1.5 billion) due to selling petroleum products at subsidised rates.
Days after medical representatives said their employers were flouting the government's drug-pricing norms, the pharmaceutical industry has decided to clip their wings. These companies want them to be no longer recognised as "workmen," a classification that gives them the right to form trade unions.
India-born steel magnate LN Mittal met Prime Minister Manmohan Singh on December 8 to discuss his plans in the oil and gas sector in India. The meeting has led to reports that Mittal is interested in taking over Cairn India's assets, which includes prospective oil discovery in Rajasthan.
In another setback to Big Pharma, US drug major Eli Lilly's blockbuster erectile dysfunction drug Cialis (generic name:Tadalafil) has failed to qualify for a product patent in India after the basic constituent of the medicine was found to be a known substance, developed and patented by Indian scientists 32 years ago.
"The economies of scale for a refinery are different for India and Africa. India being a net exporter of products, refineries need to have capacities to the tune of 15 mtpa to push products to the domestic market and for export. In Africa even a small refinery makes sense," the analyst said.
With 1,610 cases of detention of food and medicine consignments at various US ports of entry during the last 11 months, the products of Indian origin received the second largest number of import refusal reports (IRRs).
India is being increasingly marginalised in Iran's energy sector for reasons which range from political to economic. Its attempts at securing oil and gas blocks in the country and importing gas (as LNG and through a pipeline) seem to be hitting a dead end. The latest setback for India is the agreement between Iran and Chinese Sinopec for the Yadavaran oil and gas field. This effectively pushes out ONGC Videsh - the government's overseas acquisition vehicle.
Chinese firms, with state help, pip India in acquiring oil assets abroad.
Pharma makers 'making a mockery' of price control, they say.
Reliance Industries, Tata Chemicals, Bharti Enterprises' Fieldfresh and Indian Oil are among several large companies that have evinced interest in leasing closed sugar mills that the Bihar government is offering, mainly to exploit opportunities to make ethanol to meet mandatory petrol blending norms that were introduced this year.
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