Congress member V Kishore Chandra Singh Deo could occupy the Lok Sabha Speaker's chair in case Somnath Chatterjee opts to quit his post. According to top party sources, Singh Deo, who represents the reserved Parvathipuram constituency of Andhra Pradesh, has been considered the most appropriate Congress MP to replace Chatterjee.
India faces a new energy crisis - unavailability of gas in the international market - that could worsen power supplies and impact a wide range of industries.
ONGC Videsh, the overseas investment arm of state-owned Oil and Natural Gas Corporation, is one of 41 global oil corporations shortlisted by the Iraq government to develop its oil fields. Iraq has the world's largest proven oil reserves.
Industry experts, analysts say the proposal is 'impractical'. The country's oil refining companies are hopeful that the Organisation of Petroleum Exporting Countries will implement a price band for crude oil which they say will bring more certainty to their operations.
The realty companies include Housing Development and Infrastructure Ltd and Hyderabad-based Vasundhara Projects, while the oil services company is Hydrocarbon Resources Development.
Profits of the country's oil marketing companies - Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation - fell by as much as 29 per cent in 2007-08 in spite of an up to 56 per cent rise in the oil bonds these companies received during the year compared with 2006-07.
Oil and Natural Gas Corporation, the country's most profitable company, is far behind its global counterparts in terms of revenue earned per barrel. The oil major makes a profit of around $10 a barrel for every barrel of oil it sells, while its global peers earn a profit of over $70 a barrel.
The under-realisation on fuel sales reported by the country's oil companies is overstated by as much as 15 per cent, according to experts, though this does not mean that the oil companies are making profits on selling subsidised petrol, diesel, cooking gas and kerosene.
Under-recoveries by state-owned oil marketing companies are set to hit a new record in June with the under-realisation on the sale of diesel, the largest selling fuel and also the most politically sensitive, almost matching the subsidised selling price.
Oil and Natural Gas Corporation, the country's largest oil and gas producer, is planning to sell 30 to 40 per cent each in two blocks in Vietnam to share the risks and drilling costs. ONGC owns 100 per cent in the two deepwater exploration blocks.
A depreciation in the value of the rupee against the dollar, coupled with surging crude oil prices, are likely to push the country's crude oil import bill to over $100 billion in 2008-09, from $77.02 billion in 2007-08, according to industry officials.
The CD, which will have 1940s' film songs, will remind Pakistanis of undivided India and the undivided talent in the Bombay film industry. The first song is Jab Dil Hi Toot Gaya by Kundan Lal Sehgal from the film Shahjahan. The album signs off with the title track of Kabhi Alvida Na Kehna by Sonu Nigam.
After the CPI(M), the crucial partner of the ruling UPA government, raised its voice against any attempt to shut down three public sector vaccine manufacturing units, Union Health Minister Anbumani Ramadoss has quickly moved to announce that it will upgrade the units and 'do everything to protect their interest'.
The domestic supply of diesel has been constrained on rapidly growing demand. The diversion of supplies from Reliance Industries, which was given export-oriented unit status last year, has added to the shortage. Reliance produces 10 million tonnes of diesel from Jamnagar.
Rising export of petroleum products helped Commerce Minister Kamal Nath meet 96 per cent of the targeted $160 billion worth of exports in 2007-08, but it could not contain the country's net oil import bill. The net oil import bill in 2007-08 is likely to rise by around 41 per cent over 2006-07 as the country's refineries consumed 9 per cent more crude oil to meet surging demand even as crude oil prices rose nearly 53 per cent during the year.
After the UK-based Hinduja group, Oil and Natural Gas Corporation's proposed Rs 26,500-crore (Rs 265 billion) refinery at Kakinada, Andhra Pradesh, has found new suitors in Reliance Industries and Essar Oil.
Iranian President Mahmoud Ahmadinejad may have used a mix of charm and roguish coercion to let India know that he expected the Iran-Pakistan-India gas pipeline proposal to become a reality in 45 days. But India is in no hurry to take a decision, a top Cabinet minister in the United Progressive Alliance government said. The volatile political environment in Iran and Pakistan has as much weightage now and the UPA government is becoming more reluctant.
The value of the stake is not immediately known but ONGC Videsh Ltd (OVL) -- the overseas investment arm of Oil and Natural Gas Corporation -- is likely to pay an initial $300 million for drilling operations. Russian company Rosneft, which owns 70 per cent in the project, will be offloading its stake to OVL if the deal goes through. The remaining 30 per cent stake is held by China National Petroleum Corporation.
Indian Oil Corporation, the country's largest petroleum product marketer, has already started selling only premium fuels in nearly 25 of the 50 fuel stations it has in Mumbai, and in almost 10 of 50 outlets in Delhi. Bharat Petroleum Corporation and Hindustan Petroleum Corporation are also planning to follow IOC's example.
According to party sources, the Congress' hopes to regain power are pinned on the first and third phases of the election. The first phase (89 assembly segments) will cover the entire southern Karnataka along with Bangalore and Mysore. In the third phase, 69 constituencies of the northern part will go to polls.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances