It is rare for Cabinet ministers to tick off state-owned companies publicly, yet that was what then petroleum and natural gas minister Dharmendra Pradhan did for ONGC. Speaking at an event on June 29, Pradhan said he has asked India's premier exploration company to find fresh oil acreages fast. "Do it yourself through some joint venture (or) through a new business model. But the government cannot permit you to hold resources for an indefinite time." The reason for this stricture is India's rising dependence on imported oil and gas. Or, to put it another way, falling domestic production (see chart: "Crude truth"), especially from ONGC, which faces a simple problem.
The acquisition of stake in Progress Energy Resources Corp for 1 billion Canadian dollars ($900 million) mark IOC's maiden entry into North America.
Piyush Goyal is leading a delegation to deliberate with Australia.
'Where was cement 100 years ago?' 'Why do we need harmful building materials when we have so much in nature around us?' Geeli Mitti founder Shagun Singh tells Samali Basu Guha.
Prime Minister Narendra Modi on Monday told developed countries which powered their way to prosperity on fossil fuels that it would be "morally wrong" if they shift the burden of reducing emissions on developing countries like India.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
At the summit, India signed the SCO's memorandum of obligations, kick-starting the process of its accession into the group as a full member.
"The Trust chose January 26, 2021 for laying the foundation stone of the Ayodhya mosque as on this day our Constitution came into effect over seven decades ago. Our Constitution is based on pluralism, which is the leitmotif of our mosque project," said Athar Hussain, secretary of the Indo-Islamic Cultural Foundation (IICF).
"The biggest challenge before us is that the 21st century belongs to Asia. But do we have this sentiment, I think that is the biggest challenge," he said.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
More than three months after announcing the sale of its up to 51 per cent stake in the Indian unit to Vedanta, Cairn Energy Plc on November 23 last year had made a conditional application to seek government's nod but refused to accept partner ONGC's rights.
State-owned Oil and Natural Gas Corp on Monday said UK's Cairn Energy Plc cannot sell a majority stake in Cairn India to Vedanta Resources without its consent.
The gas dispute between the Ambani brothers is hurting global investors' confidence in India, says an industry report, urging the government to set priorities for the usage of gas and the pricing to prevail.
ONGC, which is a 30 per cent partner with Cairn India in the giant Rajasthan oil field, had claimed that it had preemption or right of first refusal in Cairn India assets, like the Rajasthan block.
Though growth in China is unlikely to slow down soon, India should prepare to take advantage of a shifting of gears there.
Describing his German coach Klaus Bartonietz as the 'best' for him, Olympic gold-winning javelin thrower Neeraj Chopra on Friday said he would like to continue their spectacular partnership in the 2024 Paris Games as well.
An alumnus of IIT Bombay intends to start an NGO to help create awareness about the degrading quality of environment and needs volunteers.
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Prime Minister Narendra Modi has asked NITI Aayog to frame policies to propel India into the next century.
'A lot of people who quit felt they have been in the organisation for way too long and needed a better or challenging career role to advance in their careers.'
We ask you to rate the pradhan sevak and his ministers on four criteria: Vision. Execution. Efficiency. And their response to the public.
'From the very start, PM Modi was insistent that visiting foreign leaders should be exposed to an India beyond its capital.' 'Through these experiences, he felt that the full Indian narrative would be much better understood across the world,' explains External Affairs Minister S Jaishankar. A riveting excerpt from Bluekraft Digital Foundation's Modi@20: Dreams Meet Delivery.
In the third acquisition in 10 months, state-owned Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL) will buy Videocon Industries' 10 per cent stake in a giant Mozambique gas field for about $2.5 billion.
'This is the beginning of a big campaign which may last a hundred years of trying to understand the human body in detail.'
As infrastructure, power hardly deal in cash, its paucity has failed to affect their receivables
"Climate change is a major global challenge. But it is not of our making," Modi said.
India on Tuesday pitched for a stake in vast oil and gas fields as well as LNG terminals in the frozen Artic of Far East Russia as it looked to import more oil from the former Soviet republic as part of a strategy to diversify its energy basket.
Prime Minister Narendra Modi's decision to open commercial coal mining to private players is a key step towards bringing order to the country's chaotic power industry and ending the chronic blackouts that impede its economic rise.
ONGC, which partners Cairn India in its crown jewel oilfields in Rajasthan and seven other properties in India, has waived its preemption rights over the deal and given a no-objection certificate, sources privy to the development said.
The board of Cairn India has on two occasions rejected oil ministry conditions that royalties paid by Oil and Natural Gas Corporation on its all important Rajasthan oilfields, be cost recoverable from oil sales saying this was against contractual provisions and not in the interest of the company and its shareholders.
Government wants Cairn India to agree to pay royalty and cess on its all important Rajasthan block.
The government will reserve the right to decide on the cost recoverability of royalty from Cairn India's block in Barmer while clearing Cairn Energy's sale of its Indian subsidiary to Vedanta Resources.
The Supreme Court on Friday granted six weeks time to Mukesh Ambani's Reliance Industries Ltd (RIL) to respond to the final CAG report which found alleged irregularities including in payments made to the contractors on drilling of D6 wells at the Krishna-Godavari basin.
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The creation of the High Level Political Forum was one of the key decisions of the Rio+20 Conference.
The company's net profit went up 27% in December quarter, sequentially better than peers; core IT services up 33%..
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
The company management remained tight-lipped about the resignations, but indicated there was nothing unusual in these movements.
The Edinburgh-based firm's current application seeking the nod for sale of 40 to 51 per cent in Cairn India, for up to $8.48 billion, has left out three producing properties, including the giant Rajasthan oilfields.
Decades of a state-owned monopoly selling coal at a fixed price has taken its toll on production.
The Government of India has decided to launch a massive rural public works scheme, 'Garib Kalyan Rojgar Abhiyaan', to "empower and provide livelihood opportunities to the returnee migrant workers and rural citizens". Prime Minister Narendra Modi will launch this scheme on June 20 through video conference in the presence of Bihar Chief Minister Nitish Kumar and Deputy Chief Minister Sushil Kumar Modi.
In his address to the nation on the eve of 73rd Republic Day, President Kovind noted that democracy, justice, liberty, equality and fraternity form the bedrock of India and stressed that the observance of Fundamental Duties mentioned in the Constitution creates the proper environment for the enjoyment of Fundamental Rights.
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