The government on Friday gave its nod to ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp, to acquire Royal Dutch/Shell's 33 per cent stake in a deepsea gas field off Egypt.
Reliance Industries edged past Oil and Natural Gas Corporation in morning deals on Thursday to become India's most valuable company with a market capitalisation of Rs 1,60,949 crore (Rs 1609. 49 billion).
Five to six issues may hit the market if Chalet Hotels's IPO is successful and if there are no negative surprises in the Union Budget on February 1.
ONGC has been making an annual loss of about Rs 700 crore (Rs 7 billion) on sale of gas at administered prices and hoped the government will soon decide on hiking the fuel price. the present price of Rs 3.2 per cubic meters that ONGC gets for gas produced from fields given to it on nomination basis, was not sustainable. Price of about 80% of gas produced by ONGC is regulated by the Govt. PetroMin had recommended 16% increase in price of gas produced by ONGC and Oil India.
Oil and Natural Gas Corp, India's highest profit making firm, has suggested a new corporate structure
Top gainers from the Sensex pack are Infosys, Cipla, NTPC, ITC and Lupin
The fast-food giant is building drive-through restaurants in China and selling curry dishes in India to get a bigger share of the Asian market.
To make the government directors more accountable, the bureaucrats who sit on the boards of central public sector companies will now be evaluated for their performance.
Subir Raha, who was last week denied an extension as head of Oil and Natural Gas Corp on the basis of a critical performance appraisal by former petroleum secretary S C Tripathi
Among the Sensex losers, Yes Bank tumbled 5.46 per cent, followed by Bajaj Finance 5.40, ICICI Bank 3.82 per cent, IndusInd Bank 3.10 per cent and HeromotoCorp 2.55 per cent.
Reliance Industries Ltd may tie-up with Chevron Corp of US to make joint bids for oil and gas blocks on offer in the latest round of New Exploration Licensing Policy.
The Cabinet Committee on Economic Affairs at its meeting this morning approved the project, official sources said.
The rates, on net calorific value (NCV) basis, dropped to $ 5.05 per mmBtu for six month period beginning April 1, 2015.
Muted global trend after a report that US President Donald Trump was preparing to impose more tariffs on China hurt trading sentiments.
Officers of India's third largest oil firm Hindustan Petroleum Corp on Thursday began an indefinite agitation against "arbitrary and autocratic" style of company management.
Petroleum Minister Mani Shankar Aiyar on Thursday denied having presented to the Cabinet a proposal for raising LPG and kerosene prices.
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.
The 50-share NSE Nifty slipped below the 8,200-mark to touch a low of 8,154.45, but settled at 8,170.80, down 90.95 points, or 1.10 per cent
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
Cairn Energy of UK has secured a $1 billion banking facility to fund its Rajasthan oil field development plan.
The S&P BSE Sensex gained 57 points to end at 26,064 and the Nifty50 climbed 17 points.
Unocal Corp would have agreed to be acquired by Chinese oil firm CNOOC Ltd, despite fierce US political opposition - if the Chinese side had raised its bid in August, Unocal's former CEO has said.
Markets finished the session on a dismal note with Sensex closing at its lowest level since August 2014.
The government has allowed Reliance Industries Ltd and Mangalore Refineries and Petrochemicals Ltd to sell kerosene outside the public distribution system, Petroleum Minister Mani Shankar Aiyar said on Thursday.
India will develop underground natural gas storage facilities as an insurance against disruption and supply shortfall.
The divestment department has lined up a host of companies.
CNG prices in Mumbai may have to be hiked by about Rs 16 per kg and piped cooking gas by Rs 10 after government decided to divert some of its cheaper domestic gas to Gujarat.
State-run Hindustan Petroleum Corp Ltd plans to invest over Rs 13,000 crore to raise the capacity of its Vizag refinery and set up an aromatic plant there.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
While Vedanta was the biggest gainer in the Sensex pack rallying 4.67 per cent, others included Tata Steel, ONGC, NTPC, Yes Bank, Infosys, Sun Pharma, Bharti Airtel, SBI, Bajaj Finance, L&T and RIL, rising up to 4.13 per cent.
The consortium of Oil and Natural Gas Corp, Reliance Industries and BG Group of UK will continue selling gas from Panna/Mukta and Tapti fields to state-run gas firm GAIL
IOC is building a 5 million tonnes per annum LNG terminal at Ennore near Chennai which is to be completed by 2017.
Oil and Natural Gas Corp on Tuesday disputed claims made by gas utility GAIL (India) Ltd of an agreement with the operators of Panna/Mukta and Tapti fields to continue selling gas beyond March 31.
The NSE Nifty settled the day 93.20 points or 0.88 per cent lower at 10,452.30 after shuttling between 10,612.90 and 10,434.05.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, will acquire US energy firm ExxonMobil's 30 per cent stake
Government on Tuesday decided to sell 10 per cent stake in India's largest profit making firm Oil and Natural Gas Corp and gas transmission monopoly Gail (India) Ltd.\n\n
Oil and Natural Gas Corp on Friday said it has entered into a Memorandum of Understanding with Indian Airlines to take two aircraft on lease to meet its operational requirements.
Reva Electric Car Company and Hydrogenics Corp, a Canadian firm will develop hydrogen fuel cell cars. \n
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corp, has signed a $194 million contract with the Sudan Government for construction of a 741-km long multi-product pipeline.
