State-owned Oil and Natural Gas Corporation (ONGC) has reported a 10 per cent decline in its June quarter net profit on lower oil prices and stagnant production from its aging fields. The company reported a net profit of Rs 8,024 crore in the first quarter of 2025-26 fiscal year, compared to Rs 8,938 crore earning in the same period last year, a company statement said.
Reddy, who moved from urban development to the oil ministry, got down to tackling the task straightaway with a brainstorming session with senior ministry officials on Thursday.
The oil ministry said on Thursday that any refiner laying a pipeline to carry oil products from ports or building one longer than 300 km must allow other companies to share the facility.\n\n
The first phase of the proposed India-US bilateral trade agreement (BTA) is 'nearing closure' and would address the hefty 50 per cent tariffs imposed by the Trump administration on Indian goods, in addition to resolving America's market access issues, a government official said on Monday.
'Don't look at Russia only as a place to earn quickly and then leave.' 'Try to build experience in serious companies, skills and certifications that will serve you anywhere in the world.'
The Russians have termed Putin's visit to India, his first to this country since the outbreak of the Russia-Ukraine war, as 'Druzhba Dosti', which means 'friendship' in Russian and Hindi respectively.
The family of a man suspected of involvement in the Delhi blast near Red Fort metro station has expressed disbelief, stating that he was an introvert focused on his studies and work.
Wholesale price inflation (WPI) fell to (-) 1 .21 per cent in October, driven by a decline in prices of food articles like pulses and vegetables, as well as lower fuel and manufactured items' prices, government data showed on Friday.
The government is likely to give a subsidy of Rs 30,000-35,000 crore to state-run oil companies - Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) - to compensate for losses incurred from selling LPG at below cost over the past 15 months, according to a senior official.
The top five decision makers in the oil ministry collectively have around 20 months of experience in the sector even as India, the third largest consumer of oil in Asia, struggles to keep pace with oil prices, which have doubled in the last one year.
On Friday, during the weekly media briefing, MEA spokesperson Randhir Jaiswal, when asked about media reports that some Indian oil companies have stopped taking oil from Russia, had said India has made clear its approach on the issue.
The government had allowed companies in February last year to launch probe missions to find more oil and gas within already-producing areas.
India's leading agriculture commodity exchange, the National Commodity & Derivatives Exchange (NCDEX), has decided to acquire around a 20 per cent stake in a new commodities and financial derivatives exchange being set up in Sri Lanka, subject to regulatory and governmental approvals. The move aims to deepen NCDEX's footprint in the financial ecosystem of its neighbouring country.
'What we are willing to do is definitely going to depend on what the Indian government wants to do.'
United States President Donald Trump on Wednesday said that the US is 'doing a trade deal with India' as the two sides continue to hold talks on the proposed trade pact.
India does not do trade agreements in a hurry or with a "gun to our head", Commerce and Industry Minister Piyush Goyal said on Friday. He said India is actively negotiating trade pacts with countries and regions, including the European Union (EU) and the US.
Once a quiet riverside ritual, Dev Deepawali has evolved into UP's largest soft-power spectacle -- merging faith, art, enterprise into a global cultural brand that reflects state's growing confidence.
'There are times when India should stand up without hesitation and voice its indignation over the US' pressure tactic. This is one such moment,' asserts Ambassador M K Bhadrakumar.
According to a situation report issued by the DGS, the oil containment measures have temporarily stabilised the situation, but full risk mitigation will happen only on successful commencement of saturation diving to extract the remaining trapped fuel oil from the vessel, MSC Elsa 3.
'A deal will only be possible if India stops buying Russian oil -- but even then, New Delhi must not compromise its core red lines.'
Hours before the blast in Delhi, eight people, including three doctors, were arrested and 2,900 kg of explosives were seized with the uncovering of a "white collar" terror module on Monday.
The commerce ministry on Tuesday said the discussions with visiting US Chief Negotiator Brendan Lynch on the proposed bilateral trade agreement were positive and forward looking.
India has rejected White House Trade advisor Peter Navarro's comments on New Delhi for its procurement of Russian crude oil, calling them 'inaccurate and misleading'. The relations between New Delhi and Washington are on a downturn after President Donald Trump doubled tariffs on Indian goods.
Saudi Arabia has scrapped its decades-old Kafala system, freeing 13 million migrant workers, including 2.6 million Indians, from restrictive employer control and exit visa rules.
India, the biggest contributor to world demand for oil, will bring into effect in an overhaul of its drilling policy. This comes after more than a year of preparation and will boost the exploration and development of India's oil and gas sector along with increased participation by foreign drillers
Calling the community note on X "crap", Navarro alleged that Elon Musk is allowing "propaganda" and reiterated his accusations of India purchasing Russian oil only to make profits.
India has implemented a number of free trade agreements with developed nations and is in active dialogue for such pacts with nations including the US, Oman, and the EU, Commerce and Industry Minister Piyush Goyal said. India has implemented trade pacts with Australia, the UAE and EFTA bloc. It has also signed an agreement with the UK.
Among Sensex firms, State Bank of India, Bharat Electronics, Kotak Mahindra Bank, Maruti, Trent and UltraTech Cement were the major gainers. However, Bajaj Finserv, Titan, ITC and Tata Steel were among the laggards.
The finance ministry, in the explanatory memorandum to the Finance Bill 2008-09, proposes to withdraw the tax holiday which has been a window the petroleum ministry has been using to market the oil and gas exploration blocks under the New Exploration and Licensing Policy (Nelp) since 1999. The commitment to give a 7-year tax holiday to companies producing gas from Nelp blocks was finalised by the Union Cabinet after consultation with the finance ministry.
The Indian team has returned from the US after holding trade talks with their American counterparts in New York, an official said on Thursday. Commerce and Industry Minister Piyush Goyal, who led the team, will be back on Friday.
Russian President Vladimir Putin announced his upcoming visit to India in December and expressed his intention to address the trade imbalance between the two countries, particularly concerning India's crude oil imports from Russia. He also lauded India's independent stance on international issues and highlighted the strong relationship between the two nations.
With the India-US trade talks moving in the right direction, Commerce and Industry Minister Piyush Goyal is expected to visit Washington soon, sources said.
More arrests are likely in this case, being probed by the elite crime branch, in the next couple of days.
China's ruling Communist Party is holding its annual leadership conclave to discuss the new five-year plan, the impact of US President Donald Trump's tariff war, and the ongoing anti-corruption crackdown in the military.
The relations between New Delhi and Washington are on a downturn after Trump doubled tariffs on Indian goods to a whopping 50 per cent, including a 25 per cent additional duties for India's purchase of Russian crude oil.
Prime Minister Narendra Modi congratulated US President Donald Trump on the success of the first phase of a US-brokered peace plan for Gaza and reviewed trade negotiations during a phone conversation.
'Both initiatives are welcome moves and we would commit ourselves with focused attention aligned with the national priorities, and pursue our exploration initiatives.'
ONGC's overseas arm applied for a sanctions waiver to access $500 million dividend from two Venezuelan projects.
The comments come ahead of Trump's high-profile meeting with Russian President Vladimir Putin, scheduled for Friday in Anchorage, Alaska.
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