At present, there is no direct air connectivity between India and Myanmar.
Old timers in Oil and Natural Gas Corporation (ONGC) still remember how in early 2000 its overseas subsidiary, ONGC Videsh Ltd (OVL), was on the verge of closure. Though OVL was set up in 1965, the only discovery the company had made till then was in Vietnam offshore, with more investment needed to monetise it. In 2001, when OVL started looking for new blocks abroad, the company's previous acquisition was 13 years old.
The agency has registered the FIR after a preliminary enquiry on a complaint from the oil ministry.
Reliance Industries Ltd, the nation's most valuable company, on Thursday said it has raised $4 billion (around Rs 30,000 crore) in debt through the largest ever foreign currency bond issuance by an Indian entity. The oil-to-telecom conglomerate plans to use the proceeds of the three tranche issues to retire existing borrowings. The issue was "nearly 3 times oversubscribed with a peak order book aggregating around $11.5 billion," the company said in a statement. This is the largest ever foreign currency bond transaction in India, eclipsing ONGC Videsh Ltd's $2.2 billion US dollar bonds issue of 2014.
India-Vietnam relationship has its own imperatives and dynamism. In India's look east policy Vietnam has been the major pivot, at least in terms of security and strategic imperatives, says Rup Narayan Das.
OVL, the overseas investment arm of state-run explorer Oil and Natural Gas Corporation, holds 40 per cent stake in the San Cristobal oil project in Venezuela.
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.
Markets ended lower amid volatile trade with Sun Pharma leading the decline.
Pharma shares extended losses after the government's ban on combination drugs.
Indian oil and gas exploration companies work in silos.
India on Tuesday pitched for a stake in vast oil and gas fields as well as LNG terminals in the frozen Artic of Far East Russia as it looked to import more oil from the former Soviet republic as part of a strategy to diversify its energy basket.
Broader markets broke the winning streak and ended lower, underperforming the benchmark indices
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
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