'If the government starts playing favourites, if the government acts in a manner which is not transparent, then natural resources which belong to not just you and me, but future generations, they fritter away. The anger against corruption, the anger against India's natural resources being looted is a consequence of the fact that within society there is a huge amount of turmoil and discontentment. Why should an Empowered Group Of Ministers or the Cabinet Committee on Economic Affairs decide the administered price of gas?' asks Paranjoy Guha Thakurta in this exclusive interview with Rediff.com's Sheela Bhatt.
State-owned Oil and Natural Gas Corp (ONGC) has signed a contract to hire a long-idled ultra-deepwater drillship of US-based Transocean for $412,000 (about Rs 2.39 crore) per day.
The 30-share Sensex ended down 297 points at 27,438 and the 50-share Nifty closed 93 points lower at 8,305.
The India Meteorological Department said rainfall would be accompanied by gale wind speed reaching 140 to 150 kmph and gusting to 165 kmph along and off Odisha and north Andhra Pradesh coasts.
Sharp improvement in refining margin is expected to be the prime driving force.
Normal life was crippled in Coastal Andhra and Rayalaseema regions today as united Andhra Pradesh supporters, including TDP, YSR Congress, observed a bandh against the Union Cabinet's approval of the draft Andhra Pradesh Reorganisation bill.
Rediff.com's Vicky Nanjappa spoke to a cross section of people in the region and also with some local leaders to understand what exactly the people want. The feedback was unanimous -- they want development.
The newer gas finds will help turn the tide for ONGC, which has seen oil and gas output stagnating in recent times.
The move is likely to force the government to take a faster decision.
Sitting Congress MP Madhu Yaskhi Goud, who played a crucial role in passing the Telangana bill in Parliament, is up against TRS chief K Chandrashekhar Rao's daughter. However, one cannot simply rule out the chances of E Lakshminarayana, the popular BJP leader who is also in the fray. Vicky Nanjappa reports.
RIL has denied knowingly producing any gas from the ONGC block
Training his guns on BJP's prime ministerial candidate again over the Reliance gas issue, the Aam Aadmi Party on Friday asked Narendra Modi whether he will bring down the gas price if he comes to power.
The company will invest $747 mn to increase production from D1, D3 and MA fields.
An Indian Navy vessel and an Air Force aircraft carrying nearly 1,000 tons of fresh water reached Male on Sunday as India mounted a major effort to help the Maldivian capital that is reeling from an acute shortage of drinking water after its lone desalination plant caught fire.
CAG had in its previous reports slammed Oil Ministry and its technical arm DGH for not exercising enough control and vigil over KG-D6 block.
Syed Firdaus Ashraf on the futility of the 'who is a Hindu?' debate.
Reports have put the IPO pipeline between 19 and 30 issues, of Rs 10,000-20,000 crore or Rs 100-200 billion.
The Supreme Court on Wednesday agreed to hear a plea seeking stay on arbitration proceedings on a dispute between Mukesh Ambani-led Reliance Industries Ltd (RIL) and the government over recovery of cost for developing the country's key natural gas field in the Krishna-Godavari (KG) basin.
President Pranab Mukherjee, the former trouble-shooter of the Congress party, may informally 'guide' the Union government in drafting the bill on the creation of Telangana.
Union ministers fanned out across the country to highlight the crackdown on black money to mark the first anniversary of demonetisation on Wednesday which the Bharatiya Janata Party celebrated as "Anti Black Money Day" while the Congress-led Opposition observed it as "Black Day" with street protests.
Kamalinee Mukherjee talks about her new film, working with Krishnavamsi and her future plans.
At $12-bn valuation, this will be India's largest FDI; deal to be announced on Saturday, says Dev Chatterjee.
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.
The strong Bharatiya Janata Party-Telugu Desam Party combine in Seema-Andhra could upset the calculations of the YSR Congress in the region, but the TDP's biggest problem is rebellion from within. Vicky Nanjappa reports
Heavy rains triggered by northeast monsoon and a low pressure area over Bay of Bengal lashed several parts of Andhra Pradesh for the fourth consecutive day on Friday, prompting authorities to evacuate thousands of people from low-lying areas.
RIL has proposed to charge the government- fixed rate for natural gas on a gross calorific value (GCV) basis, instead of net calorific value (NCV).
RIL produced a total of 13.58 mmscmd of gas from Dhirubhai-1 and 3 gas fields and MA oil and gas field in the KG-DWN-98/3 or KG-D6 block in Bay of Bengal in the first week of February, which rose to 13.63 mmscmd in the following week.
As people in the Seeema-Andhra region hold the BJP as responsible for the bifurcation of the state as the Congress, the RSS feels the need to assure them that their needs are protected.
The Reliance gas pricing issue is likely to find a place in the Aam Aadmi Party's manifesto as the new party has already indicated that it will be among the major issues to target the Bharatiya Janata Party and the Congress in the Lok Sabha election.
BC Tripathi, who helms India's largest natural gas marketer and transporter -- GAIL, discusses last-mile connectivity to homes with Jyoti Mukul and Shine Jacob.
In the past, the absence of commercially viable gas prices had not only discouraged high-risk new exploration activity but also hindered the development of some of the existing discoveries, such as the satellite fields in the Reliance Industries' eastern offshore KG-D6 block.
Samvat 2070 was a great year for top Indian conglomerates in the stock markets.
A new formula for pricing natural gas in the domestic market was determined; the decontrol of diesel prices was announced; and the scheme that directly transferred subsidies to bank accounts of users of liquefied petroleum gas (LPG) cylinders was modified and relaunched.
This could impact their books in the third quarter of the current financial year.
But earnings of main private holding firm get a booster dose from RIL dividend
The RSS does not mind playing politics with religion-based census data despite knowing well that it is completely flawed, says Syed Firduas Ashraf.
The government plans to take India into the top 50 ranks in ease of doing business in the next two years with efforts such as shifting all applications for industrial licenses online.
Ruias to sell Essar Steel stake to strategic partners.
The RIL stock has halved from an all-time high of Rs 1,626 made (intra-day) on January 15, 2008, to on Wednesday's closing figure of Rs 800.55.
Union government limits powers of Anti Corruption Bureau to corruption cases involving Delhi state govt officials
