India should remember that Pakistan-Saudi Arabia relations will remain special due, not least, to bonds of all Muslims with The Holy Land. They would also be strategic enough, irrespective of whether the ambassador is a military man or a career civilian appointee., notes Rana Banerji, who headed the Pakistan desk at the Research and Analysis Wing, India's external intelligence agency.
Output in the first half of the year was 101.59 million tonnes.
The market breadth, indicating the overall health of the market turned negative from positive
The government plans to more than double the price of natural gas produced by Oil and Natural Gas Corp (ONGC) to $4.20 per mmBtu, in a move that will help the state-run firm break even in gas business.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), has emerged as the Indian company having the most international exposure for the second consecutive year, says a survey.
Petrol price has been cut by 58 paise a litre and diesel by 25 paise with effect from midnight tonight.
The government has deferred its proposed Rs 12,000 crore (Rs 120 billion) share sale in state oil and gas explorer ONGC by at least two weeks due to unfavourable market conditions.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
State exploration firm Oil and Natural Gas Corp on Thursday said it will take 26 per cent equity in Bharat Petroleum Corp Ltd's upcoming 6 million tonnes refinery at Bina in Madhya Pradesh.
In a move that may cripple the nation's oil and gas production, the shipping ministry has issued new norms for operation of vessels in the Indian waters that will force leading operators like Oil and Natural Gas Corp and Reliance Industries to shut offshore operations.
"The Corporation has decided to offer a voluntary retirement scheme, with a view to enable employees who are not in a position to continue in service of the Corporation due to various personal reasons, to request for grant of voluntary retirement from the services of the Corporation," Bharat Petroleum Corp Ltd (BPCL) said in an internal notice to its employees.
In the Sensex pack, Bajaj Finance and Bajaj Auto ended up to 6.09 per cent higher after posting strong quarterly numbers.
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
Cairn files notice against India in $1.6 billion tax dispute.
Government headhunters Public Enterprise Selection Board selected Srinivasan after interviewing 11 candidates at its office in New Delhi on Tuesday.
Oil and Natural Gas Corp (ONGC) has said its net profit will drop by over 47 per cent to below Rs 10,000 crore (Rs 100 billion) this fiscal if the government forces it to shell out a higher fuel subsidy.
After weeks of delay, Oil Minister S Jaipal Reddy has agreed to clear appointment of two independent directors on board of Oil and Natural Gas Corp (ONGC), a requirement that was must for the state-owned firm's public offering next month.
Referring to Modi, Adityanath and Union Home Minister Amit Shah as 'outsiders', the farmer leader said he has no objection if they become prime ministers after winning polls from Uttarakhand or Gujarat.
Lakshmi Niwas Mittal, who wants to make it big in oil after forming the world's largest steel empire, has lost a bid for taking over Nigeria's biggest oil refinery.
Top gainers in the Sensex pack included Bharti Airtel, Tata Motors, IndusInd Bank, Kotak Bank, Hero MotoCorp, Asian Paints and PowerGrid, which rose up to 2.53 per cent.
Indian state-run oil giants HPCL and BPCL reported on Wednesday no supply disruptions as result of a two-day-old strike by workers opposing privatisation of the refiners.
Videocon Industries on Tuesday said a well drilled to confirm an oil discovery in its Brazilian offshore block has struck 200 feet of high-quality hydrocarbon zone.
The acquisition of stake in Progress Energy Resources Corp's shale gas assets and Pacific NorthWest LNG for 1 billion Canadian dollars ($900 million) marks IOC's maiden entry into North America.
Domestic investors were also concerned about possible stagflation in India due to low growth and high inflation in wake of recently released government data. IndusInd Bank was the top loser in the Sensex pack, dropping 5.44 per cent. Infosys, SBI, PowerGrid, Tech Mahindra, Bharti Airtel and HDFC Bank too fell up to 1.21 per cent.
Top gainers in the Sensex pack included Bajaj Finance, ONGC, Yes Bank, HDFC, HCL Tech, Tech Mahindra, TCS, ICICI Bank and RIL, rising up to 3.57 per cent.
Upstream oil firms bear one-third of the revenue that retailers lose on selling diesel, domestic LPG and Kerosene at government-controlled rates.
Major gainers in the Sensex pack were Wipro, Kotak Bank, Infosys, Maruti, Tata Motors, L&T, IndusInd Bank, Hero MotoCorp, M&M, SBI, ONGC, HDFC Bank and HUL, rising up to 3 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp (ONGC), is believed to be close to making a $2.5 billion bid to takeover Russia-focused oil company Imperial Energy.Imperial Energy is an upstream oil and gas exploration and production company focused on the Commonwealth of Independent States.
State-owned Oil and Natural Gas Corp has bid for Russia's Trebs and Titov oilfields and is pitted against local giant LukOil and a venture owned by energy major BP Plc for rights to develop the giant reserves.
Sentiments took a hit after broader Asian markets weakened, following a renewed sell-off on Wall Street on Tuesday as energy shares dropped after crude oil prices plunged to a 13-month low amid weak earnings and US-China trade disputes, fuelling worries about economic growth
The Government may be keen on having a greater say in affairs of Petronet LNG as it is looking at appointing a bureaucrat as director on board of the nation's biggest liquefied natural gas importer.
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The Oil Ministry on October 31 issued orders asking upstream oil and gas producers like ONGC and Oil India Ltd to give Rs 16,729.74 crore (Rs 167.29 billion) to make up for 47 per cent of the Rs 35,328-crore (Rs 353.28 billion) revenue that retailers lost on selling diesel, domestic LPG and kerosene at government controlled rates in second quarter.
RIL's gas production from its D6 fields in the Krishna Godavari basin on Sunday touched 50.15 mmscmd. This for the first time surpasses ONGC's 49.6 mmscmd output.
Sun Pharma was by far the biggest gainer in the Sensex pack, surging 8.13 per cent, followed by Dr Reddy's at 4.92 per cent.
State-owned Oil and Natural Gas Corp (ONGC) may have won a large oil block in Venezuela but the Petroleum Ministry wants Reliance Industries to join the project to give stability to the venture.
'We would have faced many more Galwans had Indian troops not reacted and retaliated the way they did.'
State-owned Oil and Natural Gas Corp (ONGC) plans to invest $4.05 billion in producing natural gas from its ultra deepsea UD-1 discovery in a block that sits next to Reliance Industries' prolific KG-D6 fields.
India's biggest oil producer Oil and Natural Gas Corp on Friday restored 70 per cent of gas supplies from Bombay High fields, which had earlier dropped to 20 per cent after a key oil facility was gutted in a fire two-days ago.
The fall was led by L&T, IndusInd Bank, PowerGrid, NTPC, TCS, ICICI Bank, Axis Bank, Hero MotoCorp, Bharti Airtel and SBI, declining up to 2.64 per cent.
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