British energy firm BP Plc is the operator of the ultradeep sea block with 26.7 per cent stake.
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.
Oil giant Exxon Mobil beat Wal-Mart Stores to become America's largest corporation.
After beating Microsoft to become the world's most valuable technology stock last year, Apple is now the world's second most valuable company.
Sources said ONGC Videsh Ltd, the overseas arm of state explorer, and GAIL have made a non-biding offer showing interest in acquiring Exxon's stake.
The US government, under President Trump, justifies the intervention as a security necessity rather than a resource grab. The primary official reasons include: narco-terrorism charges, national security and migration crisis.
Manufacturing is one of the most important pillars of the world economy.
NRI steel baron Laxmi Mittal has donated $2 million for the Tsunami Recovery and Relief Fund, set up by former US Presidents Bill Clinton and George Bush for overseeing United States' rebuilding efforts.
ONGC Videsh (OVL), a wholly owned subsidiary of Oil and Natural Gas Corporation (ONGC), is eyeing more gas fields in Libya.
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.
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.
A look at the deals in the past that made news, awed investors and probably gave management sleepless nights.
The Indian Oil Corporation and Oil and Natural Gas Corporation's overseas arm ONGC Videsh Ltd will mount a joint bid for acquiring the South Ghawar gas field, one of the largest onshore fields in Saudi Arabia.
As 2008 draws near, very few educated people can still be unaware of the rising economic and strategic power of Asia.
Ras Laffan Liquefied Natural Gas Co Ltd (RasGas) of Qatar has pulled out of state-run National Thermal Power Corporation's tender for supply of 3 million tonnes of LNG for its power plants.
Propelled to the position of the Secretary of State to "undo" years of American foreign policy "blunders and disasters", ExxonMobil CEO Rex Tillerson now faces the biggest challenge of his life to translate his business acumen to international diplomacy.
Majority of PLL's long-term deals are linked to crude, which faces price challenge from other fuels. Spot LNG is moving away from this linkage, which puts a question mark on crude linked contracts.
Most of the companies are Chinese and surprisingly all are diversified banks.
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.
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.
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.
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.
Indian Oil Corporation (IOC), the nation's largest oil firm, has renewed a deal to buy up to 2 million tonnes of crude oil in 2022 from Russia's Rosneft, the Russian oil producer said. IOC had in February 2020 signed a deal with Rosneft Oil Company to import up to 2 million tonnes of oil via the port of Novorossiysk. In 2021, the deal envisaged supply of up to 1.7 million tonnes of crude oil but IOC bought just on parcel or shipload as the cost of transporting the oil made it uneconomical, when compared to alternatives. For 2022, the deal is for the supply of up to 2 million tonnes of oil from the Black Sea port of Novorossiysk.
Indian Oil Corp is ranked highest at 161st in the Fortune 500 list.
The entire selection process of the IOC chairman was shrouded in mediocrity and mystery.
Though the NDA government had been trying to privatise 20 companies, a decision for which was taken in 2017, and included national carrier Air India, the investor community evinced little enthusiasm for any of them. Now, with an in-principle approval for privatisation of BPCL, CCI and SCI, the government has taken the plunge again.
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.
'Biden's promise of returning to 'normalcy' after Trump appears to mean that the same old politicians, who are responsible for the 'endless wars' in Afghanistan, Iraq and Syria, are being brought out of the woodwork after four years,' notes Ambassador M K Bhadrakumar.
It's a packed 5-nation, 9-day, visit for Prime Minister Modi as he heads to Uzbekistan, Kazakhstan, Kyrgyzstan, Turkmenistan and Tajikistan, apart from Ufa in Russia.
Older workers are headed for the VRS exit in larger-than-expected numbers even as unrest stirs over unrevised wage settlements.
BPCL's impending privatisation and RIL's stake sale to Saudi Aramco raise questions about the future of the West Coast Refinery, once touted as the world's largest.
Gambling debt, stock tip lead to $1 million settlement but no charges for golfer Phil Mickelson.
'Ramchandra Guha has sent down an express delivery at Sunil Gavaskar, the great batsman who seldom wore a helmet while facing the fastest of fast bowlers.' 'Gavaskar may have easily ducked the delivery and Guha would have receded in solitude.' 'But by hitting back at Guha, Gavaskar may have started a barrage of unplayable deliveries,' says Sudhir Bisht about his cricketing hero.
Indian oil and gas exploration companies work in silos.
