The government was planning to come up with a new fiscal model giving 'special incentives' for fields that were given out on nomination to ONGC and Oil India, reports Shine Jacob.
RIL's bet on burgeoning consumer base and foray into new businesses such as telecom, retail, and digital services vastly expanded its business
The BSE Sensex and Nifty fell more than 2 per cent on Tuesday, heading for their biggest daily loss since the midst of the rupee crisis in 2013
Cairn India is 25th on the list with 22.2 per cent CGR.
State-run gas utility GAIL India may take a stake in the $1.95-billion gas pipeline that China is building for ferrying natural gas found off the Myanmar coast.
Reliance Industries has regained the top slot among Indian energy companies on the Platts global list
Preparing turf for the World Cup, being held for the first time in the Middle East, is environmentally costly. Qatar has also countered the risk of fungus and disease outbreaks with a maintenance regime involving chemical cocktails, grass mowers that vacuum debris and an underground system that sucks excess moisture, said a UEFA pitch consultant.
They have been named for their stake in the Farsi offshore block.
TI report, which placed 42 oil and gas companies into three tiers based on their level of transparency in revenue disclosure, clubbed ONGC with China's CNOOC and CNPC, Russia's Lukoil and US-based ExxonMobil Corp in the lowest tier for disclosing information only by geographical segment and providing almost no additional information.
Days before US President Barack Obama's high-powered visit here, the US-India CEO Forum has been reconstituted with Cyrus Mistry replacing Ratan Tata as its co-chairman
Fernandes wanted Coca-Cola Company to not just transfer 60 per cent of the shares of its Indian firm but also the formula for its concentrate to Indian shareholders.
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 likely solution that appears before the AAP government is to seek for a higher quota of domestic natural gas for Delhi, which would bring down auto and cooking gas prices.
US energy major Chevron Corp will buy upto 40 per cent stake in Reliance Industry's gas rich D-6 block in KG Basin and become a co-promoter of its new export oriented refinery.
The Tata group companies are now more valuable than all the listed central public sector undertakings (CPSUs) or companies in the country. The key 20 listed Tata companies ended the 2021 calendar year with a combined market capitalisation of Rs 23.36 trillion, ahead of the 70 listed CPSUs, which had a combined m-cap of Rs 23.2 trillion. In comparison, these CPSUs had a combined market capitalisation of Rs 16.7 trillion at the end of December 2020 against the Tata group firms' combined m-cap of Rs 15.7 trillion.
Oil and Natural Gas Corp, which had last year firmed up an investment of Rs 34,012 crore (USD 5.076.37 billion) in bringing to production 10 oil and gas discoveries in its Bay of Bengal block KG-DWN-98/2 (KG-D5), plans to invest another Rs 21,528.10 crore (USD 3.2 billion) in developing the ultra-deepsea UD-1 find.
The proposed chemical plant will use 2,50,000 tons of naphtha produced by IOC's Barauni refinery and the natural gas that GAIL plans to bring from eastern offshore and imported LNG through the planned Jagdishpur-Haldia pipeline. The two firms by the fiscal year would prepare a techno-economic feasibility study for the unit that would take up to five years for construction.
US energy major Enron Corp's original contractors for the $2.96-billion Dabhol power project will complete the unfinished LNG terminal to restart the stalled 2,184 MW plant by next year.
Every 10 per cent rise in crude oil price will shave off around 0.2 percentage point (pp) from India's GDP growth and widen the current account by 0.3 per cent, says Nomura.
The Q1FY24 earnings season has started on a dismal note for corporate India. The early-bird companies' revenue growth has been at a 10-quarter low, while the combined earnings of non-BFSI (banking, financial services, and insurance) companies seem to have hit the ceiling. The numbers suggest corporate India is entirely dependent on BFSI companies and the IT services sector to drive growth in revenue and profit while other sectors are showing signs of stagnation.
BJP's success in two state elections gave Modi room to cut through a thicket of regulations and state controls.
Govt seems to bullish to meet its disinvestment target in current fiscal.
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.
Total, which had a few weeks back exited Royal Dutch Shell-led Hazira LNG import terminal in Gujarat, will join Adani in developing a 5 million tonnes a year import facility at Dhamra in Odisha. The two will also set up a joint venture to roll out a fuel retail network of 1,500 outlets, mostly on highways, in the next 10 years, Adani and Total said in a joint statement.
ONGC has awarded the service contract for development of its B-192, B-45 and WO-24 fields, known as Cluster 7, south-west of the Mumbai High field to a consortium of HPCL, Prize Petroleum Comnpany Ltd and Malaysia's M3nergy Berhad (Trenergy). \n\n
ONGC is raising debt for a spate of acquisitions over the past year
The Petroleum Ministry has asked for Rs 26,000 crore (Rs 260 billion) as fuel subsidy for the third quarter of this financial year, but the finance ministry is inclined to provide only Rs 10,000 crore (Rs 100 billion) cash support.
ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corporation, will make an offer to acquire shares of the United Kingdom-listed Imperial Energy Corp Plc at 12.50 pounds a share by December 9.
Senior bureaucrats Avinash Joshi and Niraj Verma are among the 10 candidates who are in the race to become chairman and managing director of India's largest oil and gas producer, ONGC. Mangalore Refinery and Petrochemicals Ltd (MRPL) director-finance Pomila Jaspal and ONGC director for technology and field services Om Prakash Singh are the other prominent names in fray for the top job, according to a candidate shortlist by the Public Enterprise Selection Board (PESB). PESB - the government headhunter - will hold interviews to select the new head of Oil and Natural Gas Corporation (ONGC) this week. Both the bureaucrats are from the 1994 batch of IAS officers belonging to the Assam-Meghalaya cadre.
Eight Indian companies, including Reliance Industries, Bharti Tele-ventures and software giants Infosys and Wipro have made it to the Forbes A-List featuring 400 most attractive companies for investors.
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.
The Turkmenistan event underscores the lengths to which China's oil-and-gas companies will go to curry favour in resource-rich locales.
According to Siam data, Indian auto companies sold 982,456 units of utility vehicles in the first half of FY23, a 50.29 per cent growth over the corresponding period last year.
China National Petroleum Corp, which trailed Oil and Natural Gas-Mittal Group combine when price bids were made on August 15, raised its bid to $4.18-billion to acquire PetroKazakhstan, a Canadian oil firm operating in Central Asia.
The government is keen on getting global oil majors like Saudi Aramco and National Iranian Oil Corp on board Hindustan Petroleum and Bharat Petroleum through the market route even though privatisation of the state-run oil refining and marketing compa
The price of petrol was hiked to Rs 101.39 a litre in Delhi from Rs 101.19 and to Rs 107.47 per litre in Mumbai, according to a price notification of state-owned fuel retailers. Diesel rates went to Rs 89.57 a litre in Delhi and Rs 97.21 in Mumbai.
Petronet LNG Ltd, India's largest liquefied natural gas importer, expects to sign a contract by the end of July for import of 2.5 million tonnes of LNG from Chevron Corp's Gorgon project in Australia.
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