India's oil ministry has decided to divert 30,000 barrels per day (bpd) of indigenous crude oil from refiner Hindustan Petroleum Corp, which is being privatised, to feed small state-run refineries in remote areas, officials said.
State-run Oil and Natural Gas Corp will invest around $15 million in developing Chinnewala Tibba oil and gas discovery in Jaisalmer district of Rajasthan.
After ONGC and IFFCO, state-run gas firm GAIL on Tuesday said it would bid for acquiring controlling stake in oil refiner Hindustan Petroleum Corporation if it was permitted by the government policy.
A day after a major blowout at a well of the Oil and Natural Gas Corp (ONGC) near Vadodara, operations to arrest the gas leakage continued on Saturday even as the crisis management team reached the site to take stock of the situation.
It will be Reliance Industries' gigantic gas find on the east coast versus the imported LNG offered by ONGC and Indian Oil Corporation in the tender for supply of gas to the 1400 MW power plant in Karnataka.
Moily said several gas fields of both RIL and state-owned Oil and Natural Gas Corp were economically unviable to produce at current rate of $4.2 per million British thermal unit.
Sensex eneded 374 points higher on rate cut expectation from the RBI.
Oil and Natural Gas Corp (ONGC) is in talks with super majors like ExxonMobil to replace Norway's Statoil and Petrobras of Brazil who have decided to quit its KG basin gas block.
After demonetisation, sharp fall in PE valuation offers an attractive entry point into some quality names and these 3 FMCG companies are expected to see the fastest growth in earnings with at least 15 per cent upside potential
Scottish explorer Cairn Energy Plc rejected state-owned Oil and Natural Gas Corp's $200 million bid to acquire its oil and gas properties on east and west coasts of India.
The rupee had revisited the near 2-month low of 60.55 per dollar earlier in the session.
We must seize the opportunity provided by the COVID-19 crisis to kick-start indigenous research efforts, recommends Colonel Anil A Athale (retd).
As he was to take the bus, he set out early, walking a short distance from his office to the Krishi Bhawan bus stop from where he boarded bus number 781 to Race Course.
Rejecting Congress' charge that projects he has been inaugurating in recent months were all started during their time, he said, as prime minister, he would have been happy if the projects were completed 15 years back and led to creation of jobs.
In the Sensex kitty on Wednesday, Tata Motors emerged as the top loser falling 3.01 per cent, followed by Vedanta shedding 2.92 per cent. Other laggards include HUL, Kotak Bank, NTPC, Infosys, HDFC Bank, Bajaj Finance, Hero MotoCorp, ICICI Bank, Yes Bank, HDFC, IndusInd Bank and PowerGrid, falling up to 1.77 per cent.
The Public Enterprises Selection Board, which is the government head-hunter, interviewed seven candidates for the post, which fell vacant after Dinesh K Sarraf was elevated as Chairman and Managing Director of ONGC.
The NSE Nifty ended 55.75 points, or 0.57 per cent, higher at 9,912.80 after moving between 9,925.75 and 9,882.
Other shortlisted chief executives include Abdulrahman Ali Al-Abdulla of Muntajat, Peabody Energy's Gregory Boyce, Pailin Chuchottaworn of PTT Public Company Ltd, Repsol's Antonio Brufau and Ian Taylor of Vitol.
India's Oil and Natural Gas Corp expects crude output to rise 15 per cent to 600,000 barrels per day in 2006-07 but production from its ageing fields will fall rapidly in subsequent years, a company official said.\n\n\n\n
Chevron CEO David O'Reilly told analysts the company has pulled out of some unprofitable refining markets, and will continue to do so. However, he had said that Chevron is continuing talks with its refining joint venture partner RIL that would determine whether it keeps a foothold in Indian refining. Chevron has not yet signed a crude supply and product off-take agreement with RIL to take forward its plans to increase its stake in RPL beyond the existing 5 per cent.
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
Among the gainers, Sun Pharma topped by rising 3.03 per cent as the weak rupee tempted buyers to accumulate shares of pharma exporters.
India plans to complete by 2006 a 180,000-bpd refinery, which has been under a cloud because of the proposed privatisation of the company that is building it, Oil Minister Ram Naik
Sun Pharma was the biggest loser among Sensex components, plunging 3.94 per cent, followed by Tata Steel falling 3.12 per cent.
The government cleared the proposal despite opposition from the petroleum ministry, which says this is not the right time for divestment as the sector is moving from trade parity to export parity pricing.
The S&P BSE Sensex ended the day at 28,226, up 85 points, while the Nifty50 settled at 8,734, up 18 points.
TCS was the biggest loser in the Sensex pack, sliding 3.17 per cent, followed by HCL Tech, Yes Bank, IndusInd Bank, RIL, ICICI Bank, Infosys, Tata Steel, Kotak Bank and L&T, down up to 2.34 per cent.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
The former ONGC chairman's passion for everything that he set out to do was such that he would settle for nothing short of being the best, says Sudhir Bisht.
Losers included Bharti Airtel, SBI, Wipro, Vedanta, Maruti Suzuki, ICICI Bank, Axis Bank and Reliance Industries, falling up to 2.18 per cent.
Oil and Natural Gas Corporation has taken control of Imperial Energy after 96.8 per cent shareholders accept its takeover offer.
China has pipped India to sign a 30-year agreement to import natural gas from fields lying in Myanmar offshore where India's state-owned companies have 25 per cent stake.
Markets climb higher tracking global cues.
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.
Kotak Bank was the biggest loser in the Sensex pack, falling 3.71 per cent, followed by RIL, HDFC Bank, Bajaj Finance, PowerGrid, IndusInd Bank, Asian Paints, HDFC and ITC.
Top gainers include Yes Bank, HUL, Vedanta, NTPC, Bharti Airtel, Adani Ports, PowerGrid and Tata Motors, rising up to 5 per cent.
The NSE Nifty ended 89.40 points, or 0.83 per cent, lower at 10,710.45.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
Investors have turned cautious ahead of the policy meetings of central banks in Japan and the US
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