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.
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.
Though growth in China is unlikely to slow down soon, India should prepare to take advantage of a shifting of gears there.
'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.
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.
"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 Yuan Wang 5 can easily monitor the Indian coast while operating in international waters. She does not have to enter a port in Sri Lanka to fulfill this mission, points out Commodore Venugopal Menon (retd).
We ask you to rate the pradhan sevak and his ministers on four criteria: Vision. Execution. Efficiency. And their response to the public.
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.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
'This is the beginning of a big campaign which may last a hundred years of trying to understand the human body in detail.'
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.
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.
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.
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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%..
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.
'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.'
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.
Decades of a state-owned monopoly selling coal at a fixed price has taken its toll on production.
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.
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.
The Supreme Court judgement will hopefully ensure that those in power and authority will hesitate before allotting precious natural resources that belong to each and every citizen of the country in an arbitrary and corrupt manner, says Paranjoy Guha Thakurta.
ONGC, which is 30 per cent partner in Cairn India- operated Rajasthan oilfields, is obliged to pay royalty on entire crude oil produce from the blocks, even though its share is just 30 per cent.
The Indian energy major Oil and Natural Gas Corporation has evinced interest in exploring gas for Bangladesh in the Bay of Bengal, to help the country utilise its vast untapped off-shore potential.
ONGC sought opinion from the second highest law officer of the country after its partner Cairn Energy Plc stated that the UK firm's sale of majority stake in Cairn India to Vedanta Resources will not trigger pre-emption rights of the state- owned firm, a top oil ministry official said.
The company management remained tight-lipped about the resignations, but indicated there was nothing unusual in these movements.
State-run Oil and Natural Gas Corp (ONGC) may seek management control of the giant Rajasthan oilfields in lieu of allowing UK's Cairn Energy to sell majority stake in its Indian arm that now operates the field, to a non-oil firm, Vedanta Resources for $8.48 billion.
President Pranab Mukherjee's recent visit to the Pacific Island nation is path-breaking, but much more needs to be done, says Dr Rahul Mishra.
'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.
Full list of the rejigged Union Council of Ministers
Tribunal's direction came during the hearing of a petition filed by Anil Ambani group firm Reliance Fuel Resource Ltd, seeking license for laying pipelines from KG Basin to its upcoming power plant at Dadri, Utter Pradesh. The board had directed Reliance Fuel to apply afresh for a license to build a pipeline from Kakinada to Dadri as there were no guidelines at that time. It asked the company to apply in compliance with new regulations.
An IIT Roorkee graduate, Chandran joins a distinguished group of 24.
