ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corporation, has retained the services of Trafigura Ltd of London till March next year to trade 60,000 barrels per day of crude oil that it gets in lieu of its share in a Sudan oil field.
Indian Oil Corporation and ONGC Videsh Ltd have tied up with BP and Occidental, the global oil majors, to bid for oilfields in Kuwait.
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corp, has retained services of Trafigura Ltd of London to trade its share of 60,000 barrels per day of crude oil from the Greater Nile Oil Project in Sudan in the international markets.
ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp, has acquired stake in two oil blocks in Sudan for $136 million.
The government on Tuesday said that it was in talks with CNPC of China and Petronas of Malaysia for buying their share of 8.4 million tonnes per annum of crude oil in a Sudan oil field where state oil firm ONGC Videsh Ltd has taken 25 per cent stake.
As much as 8 billion rubles (about Rs 1,000 crore) of dividend income belonging to Indian oil firms is stuck in Russia after the Putin administration clamped down on dollar repatriation, officials said on Friday. Indian state oil firms have invested $5.46 billion in buying stakes in four different assets in Russia. These include a 49.9 per cent stake in Vankorneft oil and gas field and another 29.9 per cent in TAAS-Yuryakh Neftegazodobycha fields.
The agency has registered the FIR after a preliminary enquiry on a complaint from the oil ministry.
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.
Lines up a $1-billion capital expenditure plan for exploration purposes abroad.
The reserves in Farzad-B are almost thrice the largest gas field in India.
Pradhan said a team of officials of state-run Indian Oil Corporation had visited Vietnam and explored some business ventures
In November they had raised $2.19 billion from abroad, according to the Reserve Bank data released on Friday.
.jpg)
While the measures are aimed at moderating outflows, RBI added that genuine requirement beyond these limits will continue to be considered under the approval route.
As many as 58 companies raised money from automatic route and 8 firms raised via approval route.
The Reserve Bank on Thursday relaxed norms for overseas investment by Indian corporates by raising their borrowing limit.
Iran's growing proximity to China may have also played a part.
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.
Besides PESB selected chairman designate B Ashok (currently Executive Director retail sales in IOC) having no board experience, the case for extending Butola's service is more compelling because all the other six directors on board of the nation's largest oil firm are retiring in next one year.
Yamal LNG is a joint venture owned by OAO Novatek with 80 per cent and Total S A holding 20 per cent stake OAO Novatek holds 60 per cent stake in Yamal LNG, while Total S A and China National Petroleum Corp hold 20 per cent each
Petroceltic is headquartered in Dublin with offices in Edinburgh, London, Algiers, Varna, Cairo and Rome.
In all, 25 Chairman-cum-Managing Director (CMD) posts, 8 MD posts and 2 Chairman posts are lying vacant, according to a written reply by Minister of State for Heavy Industries and Public Enterprises P Radhakrishnan in the Lok Sabha.
Markets ended in red, index heavyweights drag.
Russia has been grappling with sanctions slapped by the US and its allies over Moscow's invasion of Crimea.
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.
Teheran bargains on OilMin plan for more rupee payment via increased import; wants investment deal on gas block.
OVL, along with Oil India Ltd, had in June agreed to buy Videocon Group's 10 per cent in the same block for $2.48 billion.
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 Indian basket represents the price of Oman and Dubai sour grade crude.
At present, there is no direct air connectivity between India and Myanmar.
A preliminary deal for sale of 49 per cent in Essar Oil to Rosneft was signed between the companies in July 2015.
ONGC Videsh Ltd and Oil India Ltd will buy Videocon Industries' 10 per cent stake in a giant Mozambique gas field for $2.475 billion.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
After last Monday's massive fall in the Indian markets, a lot of quality stocks have fallen significantly.
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.
PM Modi to travel to Vietnam before going to China to attend G20 summit.
Petroleum minister M Veerappa Moily would like to import 11 million tonnes of Iranian crude in this financial year.
The Sensex closed down 308 points at 24,894 and the Nifty has lost 96 points at 7,559.
Indian oil and gas exploration companies work in silos.
Broader markets broke the winning streak and ended lower, underperforming the benchmark indices
Defence, security, science and technology, trade and culture are some of the issues on the plate for the talks.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances