They also voiced concerns over a double penalty being sought to be imposed on them for KG-D6 fields output not matching targets.
Bharat Electronics (BEL) reported excellent results for the January-March quarter (Q4) of FY24, which were driven by decent EBITDA margins and higher PAT as well as good revenue growth. Order inflows were also good. BEL is a major beneficiary of the policy of defence indigenisation.
State Bank of India's earnings growth may turn lacklustre in the near-term, warn analysts. This, they said, could be due to margin compression and likely lower fee income over the next one year. "While the cost of deposits is repricing sharply across the system, there will be relatively lower yield expansion going ahead as most of the back-book has been repriced and there is a high competitive pressure on yields.
The company further said, "We humbly respect the Supreme Court of India and if we make false advertisements or propaganda, we would not have any objections if honourable court imposes a fine of crores or even give us a death sentence."
Indian Oil Corporation (IOC), the nation's largest oil firm, has walked away with half of the natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the fuel used to generate power, produce fertilizer, turned into CNG and used for cooking purposes. IOC got 2.5 million standard cubic meters per day out of the 5 mmscmd of gas auctioned last month, sources with knowledge of the matter said. The oil refining and marketing company, which was the top bidder even in the previous auction of gas from the eastern offshore KG-D6 block of Reliance-bp, bid the volumes on behalf of seven fertilizer plants.
Cut back on salt intake and just watch your blood pressure fall, advises Dr Sameer Gupta, cardiologist and director, Umkal Hospital, Gurugram.
Tata Power Company has tied up with British oil major BP for a "joint evaluation" of Dabhol power project that has been lying idle and deteriorating for several months.
RIL-BP, who are currently producing about 11.8 million standard cubic metres per day of gas from the flagging eastern offshore KG-D6 block, is targeting newer fields in KG-D6 block and gas discoveries in neighbouring north-east coast and Cauvery basin to raise output.
The company, which saw a pricing pressure of 5-6 per cent in the last two quarters, believes that most of the pricing negotiations are completed and about one-third of pricing pressure has been factored in the company's guidance. However, Shibulal does not rule out some tail-wind effect in this quarter as well.
BP Plc's response to the devastating Mexican Gulf oil spill is growing more expensive by the day, with the British energy major revising its costs upward to a whopping $2.65 billion.
Energy conglomerate Reliance Industries and its partner BP plc on Friday said they have made a second deep-water gas condensate discovery in the Cauvery basin, off the east coast.
BP, which recently bought 30 per cent stake in KG-D6 and 20 other blocks of Reliance Industries for $7.2 billion, is keen to undertake sea-bed surveys this winter season -- the only four months weather window available in Bay of Bengal for such jobs, to acess potential of satellite discoveries in the block and draw blue-print of their development.
Fast-moving consumer goods (FMCG) companies anticipate sustained volume pressures in the January-March quarter (Q4) coupled with sluggish rural growth during the period. Brokerages estimate top-line growth to be in low single digits in the quarter. Also, the late onset of winter had an impact on demand for winter products which range from moisturisers to hot beverages.
An HPCL-led consortium had put the project on hold in 2009.
RIL had in February last year submitted a revised field development plan for the MA oilfield, which has been producing crude oil since September 2008.
BP Plc, Europe's second biggest oil company, and Reliance Industries will invest $5 billion in developing untapped gas reserves in the KG-D6 block as the partners attempt to reverse the fall in gas production.
Reliance Industries Ltd's $7.2 billion asset sale to BP PLC has given it the firepower to expand more aggressively overseas, potentially pitching it into competition with Asian rivals for big oil and gas deals.
Dudley, whose company last year made the largest foreign direct investment in the oil sector, followed it up with a meeting with Finance Minister P Chidambaram.
On average, at least one in three Indians today were pre-diabetic, two in three were pre-hypertensive and one in 10 were depressed, the 4th edition of Apollo Hospitals' flagship Health of Nation Report on World Health Day 2024, said.
Dudley, on a stop-over visit on way to Shanghai, along with Ambani drove to Planning Commission Deputy Chairman Montek Singh Ahluwalia's residence for a breakfast meeting this morning and had sought a meeting with Law Minister Ashwani Kumar.
The spill in the Gulf of Mexico, which happened in April, not only resulted in huge financial liabilities for BP but also saw the ouster of its chief Tony Hayward.
British energy major BP Plc has spent $6.1 billion in the aftermath of the devastating oil spill in the Gulf of Mexico, resulting in leakage of millions of barrels of its oil into the sea.
Battling one of the worst oil spills in decades, British energy major BP Plc has so far shelled out $3.5 billion towards containing the disaster.
In his remarks at the State Dining Room following his meeting with the BP executives - the first after the oil spill started in the Gulf of Mexico last month -- Obama said the $20 billion will provide substantial assurance that the claims people and businesses have will be honoured.
On his first visit to India after taking over as BP Plc Chief Executive Officer (CEO), Bob Dudley met Prime Minister Manmohan Singh, but what the CEO of the most talked petroleum company of the year did in his less than a day trip was to present "his credentials".
BP Plc, the British energy company, has joined the race to acquire a majority stake in Canadian oil-sand major, Value Creation, with an offer of $1.2 billion. Though the offer is less than Reliance Industries' $2-billion acquisition proposal, given on February 5, agencies reported that BP might set up a joint venture with the Canadian group, and increase its oil-sand holdings by as much as 50 per cent.
Insiders say that BP is planning a containment cap.
TCS, Infy, Wipro among those that have bagged a five-year deal.
Hindustan Petroleum Corporation Ltd and British oil giant British Petroleum will decide on signing a binding agreement for a new refining and marketing joint venture vehicle to build a nine million tonne refinery at Bhatinda in Punjab by November 12.
Global oil major British Petroleum and French oil giant Total are eyeing equity in Hindustan Petroleum Corp's Rs 8,336 crore
The financial numbers for 2023-24 (FY24) of the four pure-play listed asset management companies (AMCs) have enthused the Street. All firms listed robust growth in net profit and revenue both during the January-March quarter (Q4) of FY24, as well as in full FY24. The strong performance comes amid a positive growth environment for the sector, led by tailwinds such as sharp growth in assets under management (AUM) and robust performance in equity offerings.
BP and Reliance Industries Ltd are leading the race to pick up a 25 per cent stake in Gujarat State Petronet Corporation and the Adani group's five million tonnes per annum liquefied natural gas terminal at Mundra.
Re-rating of Axis Bank's stock may continue in the near-future, believe analysts, as the risk-reward on the stock remains favourable amid healthy financials. The bullish stance comes after the Mumbai-based lender delivered a strong outperformance in the March quarter of fiscal year 2023-24 (Q4FY24) on core pre-provision profit and net profit, with improving asset quality. Axis Bank's net interest margin (NIM) expanded, against expectations, even in a tough market.
Clearing the last hurdle, the Union home ministry has given unconditional approval for United Kingdom's BP to buy a 30 per cent stake in Reliance Industries' oil and gas blocks, including the showcase KG-D6 gas fields, for $7.2 billion.
Under pressure from the US administration to speed up efforts to contain the oil spill and compensate victims, BP had announced a $20-billion claims fund.
BP, which bought a 30 per cent stake in RIL's 21 oil and gas blocks, including KG-D6, for $7.026 billion in 2011, is working with RIL to arrest the output decline in the fields.
Close on the heels of getting nod to invest $ 7.2 billion in Reliance Industries' oil and gas properties, BP Plc on Wednesday said output from Mukesh Ambani-run firm's KG-D6 gas fields can rise only in 2014 after new fields in the area are quickly brought into production.
The government nod to Reliance Industries selling 30 per cent stake in its oil and gas blocks such as eastern offshore KG-D6 to London-based BP Plc for $7.2 billion hinges on no-objection certificate (NOC) from Canada's Niko Resources and UK's Hardy Oil and Gas.
Despite the initial success in tamping down the oil flow, no-one is giving the all clear signal just yet and the testing for oil pressure will continue for two days.
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