Energy supermajor Exxon Mobil Corp is in talks to buy a stake in producing oil and gas fields in India, Oil Minister Dharmendra Pradhan said on Wednesday showcasing efforts to raise domestic output to cut imports. Exxon Mobil had in October last year signed a memorandum of understanding (MoU) with state-owned Oil and Natural Gas Corporation (ONGC) to offer its expertise and technology for developing resources in offshore blocks.
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.
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.
Modi said that there was an immediate need to strengthen the WTO, fighting protectionism, ensuring energy security and work together to fight terrorism.
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.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
Though growth in China is unlikely to slow down soon, India should prepare to take advantage of a shifting of gears there.
Modi's critics will say that he has put up cement and steel structures, but weakened the institutions of governance whereas Nehru strengthened them, observes T N Ninan.
"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.
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.
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.
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.
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.
'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.
Nikunj Saraf, Vice President Choice Wealth, will answers your queries.
India has abstained on yet another resolution involving Ukraine, this time a motion sponsored by Russia at the United Nations Security Council (UNSC) that sought to establish a commission to investigate claims by Moscow that the United States and Ukraine are carrying out 'military biological activities' in laboratories in Ukraine in violation of the biological weapons convention.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
In 2017, a consortium led by Russian state oil company Rosneft agreed to buy Essar Oil for $12.9 billion in India's biggest foreign acquisition of a homegrown company. Rosneft's buyout of Essar's assets was meant to herald a wave of energy investments in India - over six decades after Esso, Caltex and Shell invested in India's refining sector in the 1950s. But the government has tripped up in its efforts to sell Bharat Petroleum Corporation Ltd (BPCL), formerly Burmah Shell, a blue chip public sector company. Bidders include a couple of global funds and resources firm Vedanta.
'If you weed out corruption, you will bring glory to Goa.'
An alumnus of IIT Bombay intends to start an NGO to help create awareness about the degrading quality of environment and needs volunteers.
.jpg)
Prime Minister Narendra Modi has asked NITI Aayog to frame policies to propel India into the next century.
'If the Russian forces do capture Kyiv and set up some sort of provisional government, they might run into an insurgency, for which the geography is just right, it could prove costly for them.' 'In that event, the whole exercise could turn out to be counter-productive -- and costly in both foreign policy and domestic terms.'
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.
Poor governance and mediocre short-sighted politics are destroying the paradise that Goa was as its environment, water table, culture and way of life is drastically threatened by tourism and migration, points out Ramesh Menon.
"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).
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.
We ask you to rate the pradhan sevak and his ministers on four criteria: Vision. Execution. Efficiency. And their response to the public.
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.
'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
The company's net profit went up 27% in December quarter, sequentially better than peers; core IT services up 33%..
.jpg)
The creation of the High Level Political Forum was one of the key decisions of the Rio+20 Conference.
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.
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.
"Climate change is a major global challenge. But it is not of our making," Modi said.
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.
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.
Government wants Cairn India to agree to pay royalty and cess on its all important Rajasthan block.
Decades of a state-owned monopoly selling coal at a fixed price has taken its toll on production.
