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 blocks on offer include one in the prospective Krishna-Godavari basin in the Bay of Bengal, where Reliance Industries found a large field with estimated reserves of 14.5 trillion cubic feet of gas last year.\n\n\n\n
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corporation, is in talks with two Middle-East Asian companies to acquire stake in an oil field in Sudan that is estimated to hold oil reserves in excess of 3.5 billion barrels.
While the triple century against India and an away series win over West Indies were the highlights of his career, Brendon McCullum said it was the camaraderie of the dressing room that would linger longest in his memory.
22 companies won bids for the 31 contracts on offer; 15 were new entrants to the oil and gas business. Three years on, none of them have started production.
ONGC takes Reliance to court, alleging years of stealing from its offshore block and a sleeping govt, right after it was agreed there would be a probe by experts.
Australia's federal and Queensland governments are eager to see the mine built following the loss of more than 4,000 coal jobs over the past two years, but analysts and project finance experts believe Adani may have underestimated the challenge of raising funds for the project.
ONGC has suffered a loss of over Rs 30,000 crore due to alleged siphoning off of natural gas by Reliance Industries Ltd (RIL) from the PSU's well in Krishna-Godavari (KG) basin and appointment of an experts body on the issue "will not help", the state-run oil firm said.
With two of its clusters - R-Series and Satellite Series - likely to start production in the next two years, the company looks to turn around production from this business.
With an impeccable tally of 2,633 runs across formats this year, Kane Williamson, says Bikash Mohapatra/Rediff.com, is right up there among the pantheon of modern great greats.
CM Siddaramaiah has called legislature session on September 23 to discuss the SC's direction.
Important for India was Xi's meeting with representatives of PLA officers and soldiers stationed in Tibet. The video of the encounter was interesting to watch, especially the large number of lieutenant generals and major generals, observes Claude Arpi.
With the southern districts of Ganjam, Gajapati and Kandhamal receiving heavy rainfall due to cyclone Hudhud, the local administration has started preparations for floods if such a situation arises.
Environmental campaigners say they hope two outstanding court cases can still stop India's Adani Enterprises Ltd from developing a A$10 billion ($7.6 billion) coal project.
The Queensland Government has declared the rail corridor as a Strategic Development Area, the statement said.
OVL, the overseas arm of state-run explorer Oil & Natural Gas Corporation, and Oil India Limited agreed in June last year to jointly buy Videocon's 10 per cent interest in the Rovuma Area 1 for $2.475 billion.
Gadkari said the water of these 'Eastern rivers' will be diverted and supplied to Jammu and Kashmir and Punjab.
SBI blamed poor coal prices for the decision to turn down the loan request.
Ishant Sharma exploited the seaming conditions brilliantly to return a career-best 6 for 51 as India took early control of the second and final Test by bowling out New Zealand for a paltry 192 in the first innings in Wellington on Friday. Opener Shikhar Dhawan then hit an unbeaten half-century as India reached 100 for 2 at close, still trailing by 92 runs at the Basin Reserve.
A Texas company will submit a report by June on whether a company controlled by RIL 'stole' natural gas from the wells where ONGC is contracted to operate in the KG basin, as alleged by ONGC.
The length of the main trunk pipeline is 1,385 km from Kakinada to Bharuch and 75 km is the length of the spur lines.
'He keeps reminding me he is senior. There is no debate in this. I have never shown any disrespect to you since you are a senior,' the PM said.
While three of the top five FPIs - Capital, Government of Singapore, and Vanguard - have seen their investment value more than triple, India's benchmark indices have risen just 70%.
Oil and Natural Gas Corporation had in 2007 farmed out 15 per cent stake in the KG-DWN-98/2 block, which sits next to Reliance Industries' KG-D6 block, to Brazil's state-controlled oil firm Petroleo Brasileiro SA or Petrobras.
Post-cessation, activities related to the safe shutdown of the field are underway.
The Supreme Court on Tuesday refused to give an urgent hearing to a plea of the Tamil Nadu government for setting up the Cauvery management board for implementation of the Cauvery water disputes tribunal award, saying there is "no urgency" for it.
Listless Indian bowling allowed New Zealand get off the hook. The home team rode on captain Brendon McCullum's magnificent double century to continue their remarkable fightback and take a commanding lead on the fourth day of the second Test in Wellington on Monday.
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.
ONGC Videsh Ltd and Oil India Ltd will buy Videocon Industries' 10 per cent stake in a giant Mozambique gas field for $2.475 billion.
Stellar rally in ITC shares along with strength in the Asian equities capped the downside.
Oil Min rejects RIL arbitration notice.
The oil ministry is rejecting the monetisation of new discoveries as their production will not be viable at the present price of $4.2 per mmbtu
RIL had drawn 58.67 bcm of gas from four wells.
"The cricket board has been apprised of our sentiments," Fisheries minister D Jayakumar said.
The government recently announced a new formula for determining the price of natural gas, lowering it from $8.4 suggested by the C Rangarajan committee.
Adani Mining is building a 300-km rail line for its about $16 billion Carmichael coal mine project in Australia.
Following is the chronology of events in the decades-old Cauvery water dispute matter in which the Supreme Court on Friday held that Karnataka will get 284.75 tmcft and Tamil Nadu 404.25 tmcft Cauvery water.
Ajinkya Rahane cracked his maiden ton as India dished out a dominant batting display to take a massive 246-run lead and put themselves in the drivers' seat over New Zealand on the second and final Test in Wellington on Saturday.
Broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.8%-1%.
