ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, will acquire US energy firm ExxonMobil's 30 per cent stake
The government is expecting a 'huge' response to its largest ever auction of 55 oil and gas blocks for which bids close on Friday.
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.
India generates 9.3 million tonnes of plastic waste annually, nearly 20 per cent of the world's total.
Oil and Natural Gas Corporation, through its consortium partner in the Sakhalin-1 field in Russia Exxon Mobil, is in talks with Royal Dutch Shell for liquefying the gas from the fields before it is exported to China.
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
More than 70 global energy firms, including ExxonMobil, Chevron Texaco, Conoco Phillip, BHP and Shell, lined up in Houston to have a sneak preview of India's latest offering of oil and gas blocks under the New Exploration Licensing Policy.
ONGC Videsh (OVL), a wholly owned subsidiary of Oil and Natural Gas Corporation (ONGC), is eyeing more gas fields in Libya.
A look at the deals in the past that made news, awed investors and probably gave management sleepless nights.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, will buy a 15 per cent stake in Brazilian oil field from Royal Dutch/Shell.
OVL, along with global oil majors such as Royal Dutch Shell, ExxonMobil, Chevron, ConocoPhillips, British Petroleum, Total and China National Petroleum Corporation, is one of the 35 companies short-listed by the Iraqi government for the auction, which includes six oil-producing blocks with recoverable reserves of 40 billion barrels of oil, making it the largest such auction in the world.
In all, 61 companies have been pre-qualified to bid for 11 shallow water and 19 deepwater blocks in an international tender, according to Myanmar's Energy Ministry.
ONGC Videsh Ltd (OVL) on Wednesday said its $5 billion bid to buy a stake in Kazakhastan's biggest oilfield has been blocked by the central Asian nation.
'We plan to add over 100,000 square kilometres every year, to reach an ambitious target of 500,000 square kilometres by 2025.'
The government shouldn't hide behind the veil of making a domestic giant out of the HPC-ONGC deal, rather it should just say it needs cash from this divestment exercise, says Sudhir Bisht.
India's ONGC has lost the giant Kashagan oilfield to the Chinese after Kazakhstan blocked its $5 billion deal to buy US energy major ConocoPhillips' stake in the Caspian Sea oilfield.
Though there have been no cancellations of contracts by invoking the force majeure clause, a number of clients - especially in the worst-affected sectors like travel and hospitality, oil and gas, as well as manufacturing - have started asking for reducing level of IT support.
Indian Oil Corp is ranked highest at 161st in the Fortune 500 list.
Companies are ranked by total revenues.
Walmart CEO Douglas McMillon came first in the CEOWORLD magazine's global ranking of the best chief executives across all industries for 2019.
The meetings were a sign of crisis management.
Both crude benchmarks are now down around 20 per cent since their last peak in June
Cairn India is 25th on the list with 22.2 per cent CGR.
Reliance Industries has regained the top slot among Indian energy companies on the Platts global list
More than a year of Covid-19 has pushed most businesses into gloom but Reliance Industries Ltd (RIL) managed to reduce its gross debt 25 per cent, enabling it to turn towards its next phase of capital expenditure that has come in the form of a Rs 75,000-crore plan for green energy and power storage. The company managed to stay afloat during the pandemic because of its large presence in the consumer-centric businesses of retail and telecommunication (see chart: "A new Reliance"). These two businesses constituted 45 per cent of its EBITDA during FY21 from 36 per cent in FY20.
At present, in Myanmar, GAIL and IndianOil have a minority stake in a gas pipeline which goes to China, through South East Asia Gas Pipeline Company.
Older workers are headed for the VRS exit in larger-than-expected numbers even as unrest stirs over unrevised wage settlements.
Harvey is the most powerful hurricane to hit the United States mainland in 12 years on Saturday made landfall in central Texas coast with winds of 195 kmph.
Traders have all but given up attempting to predict where the new-year rout will end
Indian oil and gas exploration companies work in silos.
A vilification campaign against Rosneft has begun in right earnest, says M K Bhadrakumar.
'India missed the software products revolution (and now is in danger of missing the platform revolution), complacent that we are the software experts of the world based on IT services prowess,' points out Rajeev Srinivasan.
India and Japan's effort to form a multilateral group of liquefied natural gas buyers to avoid paying higher prices for the fuel is laudable as an objective but is unlikely to be effective immediately.
