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 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."
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.
In yet another bid to manage the raging crisis in the Gulf of Mexico, oil major BP said on Wednesday that it had bought the "oil spill" search string in Google.com. So, the next time when an internet user types "oil spill" in Google.com, the first response in the search results will be a link directing to BP's micro website that is dedicated to disseminating information on how it has handling the crisis on the ground.
There will be capital gains tax of 20 per cent with indexation.
BP is apparently targeting a higher percentage of offshoring.
Please get up and walk for five minutes every 1 to 2 hours, advises rediffGURU Nidhi Gupta.
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.
In one of the country's biggest energy deals, Reliance Industries on Monday announced sale of 30 per cent stake in its 23 blocks including the giant KG-D6 gas fields to the United Kingdom's BP Plc for $7.2 billion.
Australia warmed up for the limited-overs series against India in style by crushing Board President's (BP) XI by 103 runs in the lone practice match, in Chennai, on Tuesday.
Reliance Industries and its partner BP Plc on Thursday won approval to invest $3.18 billion in R-Series gas field in the flagging KG-D6 block.
Louisiana Governor Bobby Jindal has called for the federal government to respond promptly to the BP oil spill which has occurred off the Louisiana coast. The spill which occurred in the Gulf of Mexico on April 0, 2010 has spread rapidly and poses a severe threat to the wildlife in the marshes that dot the Louisiana coast. The blowout caused an explosion which led to the sinking of the Deepwater Horizon offshore drilling platform.
Oil Minister Murli Deora flew into the Vietnamese Capital this morning with heads of bluechip Indian oil firms to lay a claim with Hanoi on BP's stake in two offshore gas fields, a pipeline and power project -- together referred as Nam Con Son, Vietnam's largest gas project.
Meanwhile, in a statement, BP also said that the huge oil spill had so far cost the company $350 million.
RIL, its partner BP plc of UK will invest about Rs 6,000 crore (Rs 60 billion) by 2016 to help sustain and improve recovery from the two main gas fields.
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.
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.
The block was offered to the consortium under New Exploration and Licensing Policy (Nelp VII). RIL has 70 per cent participating interest and BP, which is the operator of the block, holds the remaining 30 per cent.
India Gas Solutions Pvt Ltd -- the equal joint venture between the Mukesh Ambani-led firm and Europe's second largest oil firm - is among the three companies shortlisted by Gujarat government for giving out 25 per cent stake in the Mundra terminal.
The company is already in talks with Indian oil refiners to buy paraxylene which is developed from naphtha, a refining byproduct. The company plans to use paraxylene as a raw material to make purified terephthalic acid (PTA), a petrochemical product used in polyester and plastic.
According to The New York Post, sources close to BP have revealed that there was a growing expectation that Hayward would announce his departure in late August or September.
RIL had in 2006 proposed to invest $2.234 billion in developing the Dhirubhai-26 or MA discovery, the only oil find in the KG-DWN-98/3 (KG-D6) block in Krishna Godavari basin off the east coast.
Warning that expenses could escalate, the oil major pointed out that it is too early to quantify other potential costs and liabilities associated with the incident.
State Bank of India Chairman Pratip Chaudhuri says though Friday's cash reserve ratio cut will help ease short-term rates, liquidity may continue to be tight and, hence, a further 25-bp (basis point) cut in CRR can be expected.
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.
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.
As per contractual terms, Hayward will walk away with nearly a 15 million pounds pay off, including a million pound as salary, share options worth 2.7million pounds and a 10.8 million pounds pension pot.
State-owned Indian Oil Corporation (IOC), Adani-Total Gas Ltd and Shell were among the 29 companies that bid and bought natural gas to be produced from the deepest field in the KG-D6 block of Reliance Industries Ltd and bp, sources said. IOC walked away with almost half of the 6 million standard cubic meters per day of gas sold in an e-auction on Wednesday while state-owned gas utility GAIL bought 0.7 mmscmd, Adani-Total Gas Ltd 0.4 mmscmd, Shell 0.5 mmscmd, GSPC 0.25 mmscmd and IGS another 0.5 mmscmd, two sources with knowledge of the matter said. Reliance-bp on Wednesday held an e-auction for sale of gas from the MJ field in their eastern offshore KG-D6 block after incorporating the government's new marketing rules to give CNG-selling city gas companies first priority over supplies.
In an attempt to hold on to its exploration blocks in the Krishna-Godavari basin, Oil and Natural Gas Corporation is in talks with British Gas (BG) and British Petroleum (BP) for joint exploration in four offshore blocks in the region.
Vitamins and minerals are better consumed in a natural form as one advances in age, advises rediffGURU Dr Karthiyayini Mahadevan.
Unseasonal rains watered down the performance of consumer durables companies as temperatures cooled, impacting the sales of refrigerators and air conditioners (ACs) in the 2023-24 (FY24) April-June quarter. Centrum says in its report on the sector that the trade channel indicates a 25-30 per cent year-on-year (YoY) decline in sales of refrigerators and ACs in April and May due to restricted buying. "While some green shoots in demand were visible in June, overall growth for the quarter is likely to remain at a negative 10-12 per cent," observes the brokerage.
While the four largest listed paint companies have seen marginal negative returns, the S&P BSE Fast Moving Consumer Goods (FMCG) and the National Stock Exchange Nifty FMCG indices have delivered a solid 16 per cent return during the same period. Initially, volume growth and reduced costs bolstered the sector's sentiment, but brokerages have grown cautious due to increased competitive pressures.
'If attacks escalate, there is a risk the Suez Canal may be closed.'
rediffGURU and wellness expert Roopashree Sharma tells you how you can use natural methods to improve your health.
RIL and its British partner BP Plc had proposed undertaking concept validation and Front End Engineering Design for all the 16 gas discoveries surrounding the currently producing Dhirubhai-1 and 3 fields in the 7,645 sq km KG-DWN-98/3 or KG-D6 block.
'It was not a natural death; it was an accidental death.'
Despite a largely stable December quarter, investors booked profit in shares of IndusInd Bank (IIB) as an increase in slippages took them by surprise. Analysts, on their part, believe investors may, now, wait for actual delivery on slippage decline, potentially limiting near-term upside. "The management has indicated that corporate slippages (from legacy stressed book) have ended and inch up in consumer finance slippages was more one-off, and should meaningfully improve Q4FY24 onwards.
Jarange, aged around 40, has been holding the hunger protest in Jalna district's Antarwali Sarati village since August 29.
Several hospitals have a smoking cessation clinic run by pulmonary physicians, suggests rediffGURU Dr Ashit Hegde.
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